First quarter ISE gains largest in history

The Irish Stock Exchange has today reported strong growth in equity trading volumes in the first quarter of 2007.

With almost €48bn traded on the ISE, it has been a record quarter with the highest turnover in the Exchange’s history.

The value of shares traded on the Exchange, at €47.93bn, increased by 44% in Q1 from €33.39bn during the same period in 2006.

The average daily equity turnover on the Exchange in the first quarter of this year rose to €749m from a €522m average during 2006.

The average number of transactions per day in the quarter was 4,780 compared to 3,561 in 2006, a 34% increase.

Of the number of deals done in the first quarter of 2007, 66% were executed on the ISE’s Xetra electronic trading platform.

The Irish equity market has performed well against global markets and the more than 16% increase in the ISEQ Overall Index between Q1 2006 and Q1 2007 outperformed global indices such as the FTSE 100, Eurostoxx 50, cDAX, NASDAQ and the Dow Jones Industrial Average.

The ISEQ Overall, Financial, Small Cap, General and ISEQ 20 indices all reached their life highs during Q1 2007.

In line with recent declines worldwide in equity markets, the ISEQ Overall, Financial and ISEQ 20 indices have fallen back to just below their closing 2006 values, but retain very strong year on year performance.

Smurfit Kappa Plc had a successful entry to the market and commenced dealings on the ISE on March 14, 2007, raising €4.1bn.

Companies traded on the ISE raised a total of €5.4bn in the first quarter. The total number of equities listed on the Exchange now stands at 78, up on the Q1, 2006 total of 72.

Three companies joined the Irish Enterprise Exchange (‘IEX’) in the quarter: Total Produce Plc, Fyffes Plc and Zamano Plc.