Turnover for ISE jumps to €12bn in the first quarter of this year
TURNOVER on the Irish Stock Exchange (ISE) increased to nearly €12bn in the first quarter of this year, the latest figures show.
According to the Dublin-based ISE's Market Statistical Review for the first three months of 2010, equity turnover increased to €11.7bn compared to just under €11bn last year while the market capitalisation of equities trading on the ISE rose 8pc in the same period to €48.3bn.
Trading volume on the exchange fell from just under 571,000 to 492,498.
The review also found that turnover in Irish government bonds and treasury Bills increased by nearly 300pc compared to Q1 last year to €85.7bn.
Market capitalisation of government debt at the end of March stood at €84.2bn -- up 17pc on the value recorded at the end of last year.
All ISEQ bond indices, which measure the return on Irish government securities, showed positive growth in the first quarter since the end of the year, with the highest returns noted in the five-year plus and 10-year plus indices at 3.7pc and 4pc respectively.
The review also saw some evidence of growth going forward.
"The ISE's specialist markets for funds and debt securities remain affected by challenging market conditions arising from the global credit crisis.
"However new fund and sub-fund listings continued to show some evidence of the recovery noted in the last quarter of 2009, with new listings of 121 in this quarter," the statistical review stated.
"New debt tranches listed in the first quarter brought the total level of debt listings to 24,000," the review added.