In the first eight months of the year, share trading on the Copenhagen Stock Exchange increased by 52 per cent compared with the corresponding period last year. In an international context this is a very positive development.
However, if compared with August 2003, share trading on the Copenhagen Stock Exchange fell by almost 5 per cent, which, among other things, is due to the very high turnover on the equity market in August last year. This is the first time in 2004 that share trading is lower than in the corresponding month of 2OO3.
The average daily share trading volume on the Copenhagen Stock Exchange came to 8,564 transactions, a 24 per cent increase on July, but a fall of 18 per cent, if compared with August 2003.
The KAX All-Share Index and the KFX Index, comprising the blue-chip stocks, enjoyed small gains in August. SmallCap+ gained almost 2 per cent, whereas MidCap+ fell by just under I per cent.
In August, turnover in the listed investment certificates totalled DKK 2.0 billion, which is 12 per cent below the level in July. If compared with August last year, trading in listed investment certificates fell by 22 per cent. Turnover in the first eight months was DKK 26.1 billion, which is by and large on a par with the total turnover in all of 2003, which amounted to DKK 27.7 billion.
Trading in the non-exchange listed investment certificates on the XtraMarked came to DKK 2.2 billion in August, a rise of 15 per cent on July and a rise of 48 per cent on August last year.
The volume of derivatives traded was significantly higher than in July, which was characterised by very slow activity. In August, 53,947 contracts changed hands, 46,93 7 futures and 7,0 1 0 options contracts. Compared with July, trading in futures contracts increased by 61 per cent, and trading in options contracts increased by 84 per cent. However, if compared with August 2003, tr'ading in futures as well as options fell. The fall in futures turnover amounted to 17 per cent, while the fall in options turnover amounted to 41 per cent.
In August, bond trading totalled DKK 371 billion in market value, which is 2 per cent lower than in July and 14 per cent lower than in August 2003. Average daily bond trading came to DKK 16.9 billion. Year-to-date bond trading was 15 per cent lower than in the corresponding period in 2003.
