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- Trade levels in equities up 26.3% in Q3 compared to Q2
- Irish companies trading on ISE raise €7.7bn, in third quarter
- Turnover in Irish Government securities more than doubles in Q3 from Q2 levels
Trade levels in equities increases by 26.3% in Q3 compared to Q2
The statistics show that trades in equities on the Irish Stock Exchange [ISE] were up 26.3% with over 684k trades recorded in the third quarter compared to the second quarter of 2011 [542k]. The daily average trade figures on the ISE’s markets were also higher in Q3 with an average of10,367 trades recorded per day [Q2: 8,882 trades], a rise of 16.7%, with year on year figures showing growth of 11.7%. Turnover rose by 5.5% to €8.8bn [Q2 2011: €8.3bn] with daily average turnover in equities down slightly to €133m [Q2: €136m] reflecting the higher number of days in Q3 [66 days compared to 61 days in Q2].
Irish companies trading on ISE raise €7.7bn in third quarter
Six companies trading on the Main Securities Market and Enterprise Securities Market raised
€7,660m in the third quarter bringing to €10,123m the amount of money raised by Irish companies in the first nine months of 2011. The key transactions during Q3 were both related to the banking sector. Bank of Ireland raised €2.5bn while the Government invested €5bn in AIB plc through the issuance of new shares.
Market capitalisation of companies included in the ISEQ indices rose by almost €15bn during the quarter to €65.8bn at the end of September 2011, an increase of 29.3%.
The best performance within the suite of ISEQ equity indices in the first nine months of 2011 came from the ISEQ Small Cap index which showed a negative return of 9.1%. The general index fell in value by 9.6% over the same period.
Turnover in Irish Government securities more than doubles in Q3 from Q2 levels
Turnover in Irish Government securities in Q3 was more than double the levels recorded in Q2. Daily average turnover rose to €351m [Q2: €174m] with total turnover in the period amounting to€23.1bn [Q2: 10.6bn]. Trading numbers also reflected higher activity levels, with daily average trades showing an increase of 56.5% over the period. Year to date turnover and trade statistics in Irish Government bonds and Treasury bills were down 77.9% and 45.8% respectively from the record levels achieved in 2010, reflecting the impact of the Irish Government’s decision toexit the bond markets in Q4 2010.
The market capitalisation of Irish Government bonds and Treasury bills at the end of September
2011 was €80.3bn, a rise of 24.2% during the quarter and 7.3% on the value recorded at the end of 2010 [Q4 2010: €74.9bn].
All the ISEQ bond indices showed double digit growth in Q3, with increases ranging from 10.4% to 34.4%, reversing the downward trend evident in the first half of 2011. All bond indices now show a positive return from the beginning of 2011, with the leading performers being the 5 plus ISEQ bond index and the 10 plus ISEQ bond index which grew by 13.1% and 18.2% respectively.
Challenging conditions internationally continue to impact fund and debt securities listings
The impact of challenging conditions in international capital markets continues to affect the level of fund and debt securities admitted to listing on the ISE’s markets in 2011. The number of new listings of funds and sub funds increased to 113 in Q3 [Q2: 84] however the level of debt tranches admitted to listing fell in the third quarter to 548 [Q2: 764].
At the end of September 2011, the number of funds and sub funds listed on the ISE was 2,975[2010: 3,009] while tranches of debt securities amounted to 21,477 [2010: 22,510].
