- Equity Turnover increases 17% to €94.3 billion
- ISEQ indices hit lifetime highs
- Successful Aer Lingus Plc flotation and four new IEX entrants
- Debt business grows 25% with increasing diversity of issuers and products
- ISE continues as world leader for listing of investment funds
The Irish Stock Exchange has reported continued strong growth in equity trading volumes in the first three quarters of 2006. The value of shares traded on the ISE increased by 17% to €94.3 billion for the nine months ended 30 September 2006 from €80.7 billion for the same period in 2005, itself a year of very strong growth in turnover. The value of equities traded on the Exchange in the third quarter exceeded €28.5 billion representing an average daily turnover of €439 million and almost €500 million per day in the year to date.
The number of transactions on the Irish Stock Exchange increased by 15% for the nine months to the end of September, 2006 compared to the same period in 2005, emphasising the underlying liquidity of the market. The average number of transactions per day was 3,531 compared to 3,075 in the first three quarters of 2005.
Aer Lingus Plc had a successful entry to the market and commenced conditional dealings on September 27th, 2006. At quarter end Aer Lingus Plc’s market capitalisation stood at €1.3 billion. Four new companies joined the Irish Enterprise Exchange (‘IEX’) market which was launched in April, 2005. These include Amarin Corporation Plc, Petroceltic International Plc, Ardent Group Plc and Petroneft Resources Plc. There are now twenty two companies traded on IEX.
Companies raised €1.56 billion in the third quarter of 2006, bringing the total money raised by companies this year to €2.71 billion. This includes €1.17 billion which was issued by Aer Lingus Plc in the pre-allotment phase prior to its entry to the Official List on October 2nd, 2006.
The Irish market continued to perform strongly against global markets with a 12% increase in the ISEQ Overall Index in the nine months to 30th September. The increase of 9% in the third quarter outperformed global indices such as the FTSE 100, NASDAQ, Eurostoxx 50, cDAX and Dow Jones Industrial Average. The ISEQ Overall, ISEQ Financial, ISEQ General and ISEQ 20 indices set new lifetime highs during the third quarter of 2006.
The first three quarters have seen a 25% increase in debt listing over the corresponding period in 2005. Notable names listing for the first time on the Exchange include Prudential Financial Inc. EMTN Programme, Cesp Companhia Energetica De Sao Paulo, Mitchells and Butlers Finance plc and various Lehman Brothers programmes. In relation to asset backed securities, the Exchange welcomed the listing of Scandinavian Consumer Loans Limited. This represents a €175 million securitisation of unsecured loans to Swedish consumers originated by Nordax Finans AB.
With over 4,200 funds and sub-funds listed, the Irish Stock Exchange continues as the number one location globally for the listing of investment funds. The third quarter of 2006 has seen continued growth in investment fund listings with a total of 106 new funds and sub-funds listing during this period.
Quarter Three 2006 Statistics
