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ISEQ outperforms top bourses in Q1

Friday, May 02 12:33:46

Irish Stock Exchange (ISE) statistics released today show the ISEQ Overall index had a strong start to 2014, increasing by 10pc and outperforming many US, European and Asian markets.

This follows a 34pc increase in the ISEQ for the year ended December 2013.

A comparison with other indices shows the ISEQ was among the strongest-performing indices in Europe in Q1. The ISEQ's 10pc gain compares with a 2.2pc decline in the FTSE 100, no change in the DAX and a 2.2pc gain by the CAC.

The ISEQ also outperformed the leading US indices, the S and P 500 (1.3pc gain])and NASDAQ (0.5pc gain) over the quarter. It was also ahead of the 1.3pc increase recorded by the FTSE E300 and the 1.8pc gain registered by the STOXX600.

The ISE said that 1.1m equity trades occurred in Q1 - 43pc more than Q1 2013 marking it the highest ever recorded in any quarter.

Equity turnover also increased strongly. The total value of equity trades in Q1 was E17.9bn, an increase of 25pc on the E14.3bn recorded in Q1 2013. The average daily turnover for equities stood at E283m per day in Q1 2014 - up 23pc on the same period last year.

As turnover is linked to the value of shares, the increase in the values traded reflects a general pattern of strong growth in the share prices of many ISE-listed companies. It also reflects strong liquidity in the Irish market, which benefits from access to both domestic and international investors and is enhanced by 38 of the ISE's 47 trading members being based outside Ireland.

The first three months of 2014 saw the trend of new listings on the ISE continue with the addition of Dalata Holdings plc to the Enterprise Securities Market (ESM) in March, raising E265m. Dalata's IPO followed new listings in 2013 by Hibernia REIT, Green REIT, Mincon, GameAccount Network and Falcon Oil and Gas.

A total of E284m was raised by companies listed on the ISE during Q1.

The total number of debt tranches listed on the ISE at the end of 2013 grew by 3pc to 22,453 at the end of the first quarter. The ISE now counts debt listings from 75 countries across the globe including Europe, the USA, Latin America, the Middle East and Africa.

The number of funds and subfunds listed on the ISE remained on a par with the previous quarter. The total number of funds listed on the ISE stood at 792 at the end of March, while the number of subfunds stood at 1,535.