Value of dealing in shares falls by 50%

THE Irish Stock Exchange’s (ISE) 2009 statistical review show the value of dealing in Irish shares fell by more than 50% in 2009 from €112 billion down to €53.4bn.

This news came as European shares hit two-month lows yesterday following sharp falls in New York and Tokyo markets overnight.

European shares fell to two-month lows, following sharp falls in New York and Tokyo markets overnight.

In Ireland the dip in annual figures reflected the tough economic conditions, the ISE said.

More than 2.3 million trades were done in 2009, however, delivering the second highest annual volume in the ISE’s history.

Statistics issued yesterday show the daily average number of trades at 9,051, “represented the second highest level of executions in the Exchange’s history – second only to the performance in 2008 (2.5m per year and 9,941 daily respectively)”, the ISE said.

Market capitalisation of equities admitted to trading on the Exchange rose by 38% during 2009 but trading was poor overall, it said.

It has reported continued strong activity in Irish Government bond markets and noted also that by the year end all the ISEQ equity indices were showing growth year on year.

Trading membership continued to expand held by the enhanced market infrastructure put in place for clients of the system.

All ISEQ equity indices showed double-digit growth in 2009, with the overall index of stocks quoted rising by 27% during the year.

Smaller growth companies in particular performed strongly with the IEX Index, launched in June, growing by 64% and the Small Cap Index increasing by 88% year on year.

Funds raised by companies active on the exchange amounted to €2bn plus.

This was a significant increase on the low level of monies raised on the Exchange’s equity markets during 2008 [€555m].

The most significant fund raising involved CRH which raised €1.278bn raised in March and Elan, €521m in September.

A number of new internationally based member firms joined the Exchange in 2009, increasing the total number of member firms trading on the ISE to 37. JP Morgan joined in June and UBS became a primary dealer in December.


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