See the report: http://www.ose.no/investor_relations/.
The uncertainty afflicting share markets across the world is keenly felt in the Norwegian share market too, which saw a second quarter turnover of NOK 111.1 billion compared with NOK 129 billion in the first quarter. Price changes effective as from New Year have compensated for the lower activity in the share market this year compared with last. Second quarter revenues totalled NOK 56.9 million. This is about NOK 1.9 million higher than in the same period last year.
The increase in income is also influenced by a positive development in the number of listed bonds. Income from the derivatives market have so far this year been lower than the same period last year. As expected, revenues from sales of financial market data have stabilised after the increase witnessed throughout 2001. Second quarter revenues are about 7 per cent higher than in the same period of 2001.
The Nordic stock exchange alliance's trading system, Saxess, went into operation in Oslo on 27 May. After a month's operation the switchover can be described as a success. The project was carried through as budgeted.
Should the tendency witnessed in the second quarter continue into the second half-year, the after-tax profit is expected to be 15-20 per cent lower than in 2001. Maintenance costs in connection with the bourse's refurbishment project are expected to be of the order of NOK 12 million higher than in 2001. These costs are taken into account in the estimate. Moreover, the tax rate increased from about 19 per cent in 2001 to 28 per cent in 2002. Oslo Børs Holding ASA had a after-tax result of NOK 49.7 million for the year 2001.
