The Mib index has reached its new annual peak at 20,554 (+5.5% vs 2003) on Monday, 8 March. A decline phase has followed, sharpened by the Madrid blasts on 11 March, but a new growth phase saw the index at 19,868 at the end of the month, down -1.9%, but still up 2.0% if compared to 2003.
Capitalisation reached €499 billion in March. A breakdown shows Borsa with a figure of €486.8 billion, Nuovo Mercato at €7.6 billion and Mercato Expandi at €4.6 billion. Capitalisation represents a percentage on GDP (37.5% in 2003) of 37.8% (38.5 in February).
Growing volumes in terms of contracts (156,300 daily, up 8.1% vs February) as well as of turnover (daily avg of €3.39 billion, up 18.0% vs February). Sharp rise in shares listed on Borsa which reached its highest record since November 2000 with a daily avg of €3.32 billion. The avg size of contracts regarding shares listed on Borsa rose from €21,700 in February to €23,400. The avg size of contracts regarding shares listed on Nuovo Mercato rose from €5,900 to €6,400 (third level since ever).
ETFs rise in terms of number of contracts (daily avg 456, up 21,4% vs February) but decline in terms of turnover (daily avg of €9.3 million, down 10.9%). The avg size of contracts fell to €20,400 euro showing a growing participation of retail investors.
Same scenario as for volumes of covered warrant and certificates, with a daily avg of contracts rising to 17,900 (up 8,8% vs February, down 14,4% vs March 2003) and of turnover falling to €74.1 million (-5,9% vs February, up 112,1% vs March 2003).
Rising volumes in the After Hours session, with a daily average of €39.1 million (up 16,1% vs February) and of 5,900 contracts (+18,2% Vs February).
Volumes of the bond traded on MOT rose (daily avg of €33.2 million, up 6,4% vs February). Volumes of bonds trading on EuroMOT were very high and posted an average of €17.6 million per day (down 8,5% vs February and forth figure since ever, up 19.5% vs March 2003). Volumes of Government bonds reached an average of €596.5 million per day (-15,0% vs February but up 16,0% vs March 2003).
In March, three companies were delisted: as far as Borsa is concerned, Cirio (5 March, non-sufficient requirements) and Locat (9 March, following a residual tender offer); as for Nuovo Mercato, Gandalf (29 marzo, non-sufficient requirements). The number of companies listed at the end of March is 276. On March 8 the Intek shares listed on Borsa have been delisted following conversion into ordinary shares.