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- Highest quarterly trades ever recorded on ISE [786k] demonstrates underlying liquidity and strong demand for trading on ISE
- ISEQ up 16.5%, continuing 2012 momentum with biggest Q1 gain since 1998
- 44% upsurge in equity turnover confirms positive performance of Irish equity markets
- Turnover and trading levels in Irish Government securities also show large % gains
Highest quarterly trades ever recorded on ISE [786k] demonstrates underlying liquidity and strong demand for trading on ISE
Irish Stock Exchange (ISE) statistics released today show Q1 trades of 786k, representing the highest ever level of trades recorded in one quarter on the ISE. This growth in trading, up 24.2% on the same period last year [Q1 2012: 632k] and 42.1% on the last quarter, demonstrates the underlying liquidity of the Irish market and strong demand for Irish equity trading on the ISE.
ISEQ up 16.5%, continuing 2012 momentum with biggest Q1 gain since 1998
The ISEQ Overall index rose by 16.5%, continuing the momentum it established in 2012 [+17.1%] when it was one of the top performing indices in Europe. This is the biggest Q1 gain of the ISEQ since 1998. In the first quarter of 2013, the ISEQ outperformed indices such as the S&P 500 [10% gain], the Nasdaq [8.2% rise] and the FTSE 100 [8.7% increase].
The ISEQ20 index, which represents the top 20 Irish shares and is tracked by the ISEQ20 exchange traded fund [ETF], also put in a stellar performance with an increase of 17.2%. Other indices showed sizeable returns, with gains ranging from 7.3% to 36.5% including a 32.1% rise in the ISEQ Financial index.
44% upsurge in equity turnover confirms positive performance of Irish equity markets
With equity turnover directly linked to share price, an upsurge in equity turnover [€14.3bn] confirmed the strong positive performance of Irish equity markets and showed an increase of 44.4% over Q4 2012 and 38% compared to the same period last year [Q1 2012: €10.4bn].
The market capitalisation of ISEQ quoted companies also increased by 21.6% during the first quarter, reaching €105bn at the end of March 2013 [Q4 2012: €86.4bn] [Note 1].
NTMA issues new bonds and T-bills raising €9.2bn
As part of the NTMA’s phased re-entry to the market, the NTMA issued 14 new Irish Government bonds and 3 Treasury bills in the first quarter of 2013 raising €9.2bn on international markets. These listings on the ISE boosted the market capitalisation of Irish Government bonds to €101.1bn, an increase of 12.1% since year end [2012: €90.2bn].
Turnover and trading levels in Irish Government securities also show large % gains
Turnover in Irish Government Bonds and Treasury Bills exceeded €29.5bn in Q1, a rise of 82.7% on the previous quarter [€16.2bn] and 35.6% higher than the same period in 2012. The number of trades in Irish Government bonds also reflected this additional activity.
Most ISEQ Bond indices rise, with longer term bonds continuing to perform strongly
Most ISEQ bond indices rose in the first quarter of 2013, with the longer term bond indices, the 5 Plus ISEQ Bond index and the 10 Plus ISEQ Bond index, continuing to show strong returns, growing by 3.9% and 5.7% respectively.
New debt listings up 27%
With improving global investor confidence in debt markets, the ISE saw new debt securities admitted to listing on the ISE up 27% in the first quarter to 858 [Q4 2012: 674], reflecting additional listing activity across all debt product types, including listings from Emirates Airlines and Abbey National Treasury Services. The total number of debt tranches listed on the ISE rose during the period to 20,490 [y/e 2012: 20,286].
New fund classes admitted to the ISE’s markets fell during Q1 to 399 [Q4 2012: 428]. At the end of Q1 2013, the number of funds and sub funds listed on the ISE was 2,525 [end 2012: 2,579].
Note 1
If AIB and Irish Life and Permanent are excluded from the calculations, the market capitalisation of companies included in the ISEQ indices would have risen by €8.8bn during Q1 to €68.5bn at the end of March 2013, an increase of 14.7% since the end of 2012 [Q4 2012: +2.5%].
