ISEQ struts its stuff among top performers
THE ISEQ Overall Index has risen by almost a quarter so far this year to become the best-performing index in Europe, the Irish Stock Exchange has said.
The Dublin index rose 24.8pc in the first nine months of 2013, ahead of indices in France and Germany.
"Standing at 4,238, the ISEQ Overall Index is also one of the top-performing global indices in 2013, outperforming benchmark indices such as the UK's FTSE 100, the USA's S&P 500 and the eurozone index," the exchange said in a statement.
Despite recent gains, the ISEQ is still far from the high of 7911.12 reached on October 31, 2007.
Many other exchanges, helped by a flood of money from the ECB and the Fed, have aso reached new records.
Third-quarter statistics also show that equity trades exceeded 2.5 million in the first nine months of the year, surpassing the peak in 2008.
The market capitalisation of ISEQ-quoted companies also increased by 18.6pc, reaching €116.3bn.
The debt securities market also saw an uplift in new international listings, with a number of international companies choosing the Irish Stock Exchange for the listing of debt issuance.
These include the luxury brand Prada (pictured), American Airlines, Emirates and British Airways.
In September, Grafton Group became the latest company to ditch its primary listing on the Irish exchange.
Other firms such as United Drug, Greencore, CRH and diversified group DCC have shifted listings to London.