Irish Stock Exchange Publishes Market Statistical Review For First Half Of Year - Over 1.15 Million Trades Dealt On The Exchange Confirms Trading Remains Strong Despite Lower Trade Values - Turnover In Irish Government Securities Doubles To €62.8 Billio

The Irish Stock Exchange [ISE] has published its market statistical review covering the first half of the year [January – June inclusive].

The review confirms that the number of trades dealt on the ISE remains strong [1.15 million over the six months compared to 1.12 million over same period a year ago] but the relative weakness in the market value of stocks quoted on the Exchange compared to 2008 resulted in the total value of equities traded on the Exchange falling significantly [€24.5 billion compared to €68.7 billion a year ago].

During the six months, 13 companies raised a total of €1.358 billion on the market; the most significant fund raising being the CRH plc rights issue in March of €1.278 billion.

Turnover in Irish Government Bonds and Treasury Bills increased sharply during the period, with trading of over €62.8 billion more than doubling the €31.3 billion recorded in the first half of 2008. The National Treasury Management Agency issued 3 new Irish Government Bonds, maturing in 2012, 2014 and 2019, and 11 new short term Treasury Bills in the period raising €36.2 billion and increasing the number of Irish Government Bonds and Treasury Bills trading on the ISE to 21. The number of primary dealers in Irish Government Bonds also increased in the first half of 2008 with J P Morgan Securities Ltd, admitted as a member firm of the Exchange in June, bringing the total number of primary dealers in Irish Government Bonds to 11 at mid year.

The review highlights the recovery in share prices of quoted stocks in the first six months of this year with the value of the ISEQ rising by 15% during the period and the value of financial companies quoted on the Exchange increasing by as much as 41% from the lows recorded at the end of last year. Small Cap stocks performed even better with a rise in the Small Cap Index of 44% and a rise of 43% in the IEX Index. The specialist indices, the leveraged and capped indices, launched in June showed growth of 33% and 32% respectively while the index of General stocks quoted on the Exchange also rose by 13%.

The global downturn in demand for specialist financial products continues to have an effect on fund and debt listings on the Exchange’s markets. New fund and sub fund listings of 104 and new debt and debt programme listings of 129 in the period reflects this downturn. At the end of June the total number of funds and sub-funds listed on the Exchange was 3,326 and the total number of debt tranches listed on the Exchange was 23,954.

IRISH STOCK EXCHANGEMARKET STATISTICAL REVIEW OF H1 2009