The Irish Stock Exchange today published its statistical review covering the first quarter of 2009.
The review confirms that over half a million share deals [570,000] were made through the Irish Stock Exchange in the first quarter of the year. This is similar in transaction volume levels to the first quarter of last year – however, as a result of falling stock prices, the value of all trades done in this quarter fell significantly to approximately 27% of the value of equivalent trades done in the same period in 2008 [Q1 2009 €10.8bn v Q1 2008 €40.4bn].
€1.3 billion raised in equity markets
Eight companies raised almost €1.3 billion in the first quarter, the most significant of these being the CRH plc rights issue in March.
€12.5 billion raised from 5 new Irish Government Bonds/Treasury Bills & Turnover increases by 64% to €25 billion
The National Treasury Management Agency issued 2 new Irish Government Bonds, maturing in 2012 and 2014, and 3 new short term Treasury Bills this quarter, raising a total of €12.5 billion and increasing the number of Irish Government Bonds and Treasury Bills trading on the Exchange to 16. Turnover in Government Bonds and Treasury Bills grew significantly, up 64% to €25 billion, compared to the same period last year.
International Listing Statistics
The global downturn in demand for specialist financial products continues to have an effect on new listings. New fund and sub fund listings in the quarter were 38 and the total number of funds and sub-funds listed on the Exchange was 3,501 at the end of March 2009. The Exchange listed 756 new specialist debt products bringing the total of debt tranches listed on the Exchange to 24,266 at the end of Q1 2009.
ISEQ
In terms of performance of the ISEQ, the index declined by 6% during the quarter mainly as a result of the fall in the financial index of 52%. This decline of 6% was in line with other international indices.
The US economy shrank in the first quarter at a 6.1% annual rate.
Smaller stockpiles may set the stage for a return to growth in the second half of the year.
Finfacts Report:
US GDP fell at an annual rate of 6.1% in the first quarter of 2009 following slump in Q4 2008 - - weakest six months since 1957-58
The Dow Jones Industrial Average is up 154 points 0r 1.92% at 8,171. The Nasdaq Composite Index was up 2.3%. The S&P 500 was up 2.1%,
Live US Indices
The German economy is forecast to return to growth next year after its steepest fall since World War II, the government said today.
Europe’s largest economy will expand by 0.5% in 2010, recovering from a 6% slump in 2009 the Economy Ministry said today. The 2009 fall is in line with the forecast that was made by four leading economics institutes last week.
In Ireland, the ESRI said today the economy will contract 9.2% in 2009 - - the worst performance of a developed country since the 1930's.
The European Central Bank reported today that loans fell 0.2% in March, from February, when they declined 0.1%. A separate report showed banks expect to tighten credit standards less forcefully in the second quarter. The European Commission said consumers now expect prices to fall for the first time since at least 1990.
In Europe, the Dow Jones Stoxx 600 added 2% Wednesday.
In Dublin, the ISEQ has risen more than 4%.
CRH, which accounts for one-third of market cap is up 6%; Elan is up 7% on some positive news on MS drug Tysabri.
Shares in shipping group Irish Continental (ICG) plunged in Dublin after the Moonduster consortium dropped its bid.
In October last year, ICG said it had received an approach from Moonduster seeking to talk to other shareholders with a view to bringing forward an offer. The consortium is made up of infrastructure investor One51 and shipping company Doyle Group.
ICG shares fell 24% to 10 cent.
European Benchmarks
Irish Share Prices
EuriborRates
Oil
On the New York Mercantile Exchange, oil for June delivery is trading at $50.92 up $1 from Tuesday's close. In London, Brent crude for June delivery is trading at $50.89 a barrel up 90 cents.
Currencies
The euro is trading at $1.3318 and at £0.9008.
For live currency updates, check the right-hand column of the Finfacts home page.
The dollar traded at a record low $1.6038 per euro on July 15th.
