Portuguese Capital Markets Benchmarks
In August 2008, the PSI-20 Share Index rose 1.2% to 8,600.31 points by the end of the month. The annual volatility of said Index was less than that recorded in the previous month and the year-over-year. The turnover in the Spot Secondary Market reached €5,437.3 million, which is comparable to a 40.1% fall when compared to July. This decrease was due to the Regulated Markets (-39.7%) and the Non-Regulated Markets (-55.8%). The decline in the amounts traded on the Regulated Markets was attributable to the Eurolist by Euronext Lisbon (-39.3%), with particular salience to the share sector which fell 39.1%. The Special Public Debt Market recorded a negative variation of 40.2%, with particular prominence to the Treasury Bonds sector, which plunged 49.5%. The trades on EasyNext Lisbon plummeted 59.2% and PEX fell 40.6%. Since the beginning of the year, accumulatively, the trading volume on the Spot Market is 36.9% less than that recorded on a year-over-year basis. The market capitalisation of Euronext Lisbon fell 6.3% down to €198,573.1 million in July. As to the Regulated Markets, only the Investment Units sector soared (471.5%), with the bond sector reflecting a drop of 20.2%. In the Undertakings for Collective Investment in Transferable Securities and the Special Investment Funds Industry [1], the net asset value under management fell 4% in July and one active fund was registered. Regarding the Real Estate Investment Funds Industry [2], the number of active funds rose by 2 and the Net Asset Value of Funds recorded a slight dip (-0.9%). 1st September 2008 Table 1 –PSI-20 Index (Values and variation) | | Aug 2008 | Jul 2008 | Aug 2007 | Dec 2007 | Monthly D | Yearly D | In the year D | | PSI-20 (Closing price) | 8,600.31 | 8,496.58 | 12,711.41 | 13,019.36 | 1.2% | -32.3% | -33.9% |
Table 2 –PSI-20 Index (Volatility) | | Monthly Values | Accumulated Values | | PSI-20 | Aug 2008 | Jul 2008 | Aug 2007 | Jan-Aug 2008 | Jan-Aug 2007 | | Volatility (1) | 18.70% | 34.23% | 22.84% | 23.01% | 12.92% | | Maximum(Date) | 8,639.92 (12-Aug) | 8,851.71 (09-Jul) | 13,380.90 (08- Aug) | 12,892.73 (02-Jan) | 13,702.03 (17-Jul) | | Minimum(Date) | 8,185.33 (06-Aug) | 8,011.54 (15-Jul) | 12,154.50 (16- Aug) | 8,011.54 (15-Jul) | 11,226.69 (02-Jan) | | Price Range % (2) | 5.55% | 10.49% | 10.09% | 60.93% | 22.05% | Legend: (1) Annually adjusted volatility=Standard deviation of daily returns ´ Ö250
(2) Price Range % = (Maximum-Minimum)/Minimum. Maximum and Minimum refer to closing prices.
Spot Market: Turnover and market capitalization
Table 3 – Turnover in the Spot Secondary Market (Monthly Values) Unit: 10^6 Euro | | Aug 2008 | Jul 2008 | Aug 2007 | Monthly D | Yearly D | | Regulated Markets | 5,338.5 | 8,848.7 | 23,093.7 | -39.7% | -76.9% | | Stock Exchange Markets | 3,350.0 | 5,522.2 | 6,947.7 | -39.3% | -51.8% | | Ordinary Sessions | 3,350.0 | 5,503.2 | 6,947.5 | -39.1% | -51.8% | | Bonds | 7.2 | 13.0 | 11.0 | -44.8% | -34.7% | | Shares | 3,342.7 | 5,490.2 | 6,936.5 | -39.1% | -51.8% | | Equity Certificates | 0.014 | 0.010 | 0.024 | 47.2% | -40.3% | | Investment Units | 0.06 | 0.0003 | 0.0 | 17879.1% | 2832.5% | | Rights | - | - | - | - | - | | Warrants | - | - | - | - | - | | Certificates | - | - | - | - | - | | Convertibles | - | - | 0.0 | - | - | | Extraordinary Sessions | - | 19.0 | 0.2 | - | - | | Special Public Debt Market | 1,988.5 | 3,326.5 | 16,146.0 | -40.2% | -87.7% | | Treasury Bonds | 1,092.5 | 2,161.5 | 13,276.0 | -49.5% | -91.8% | | Treasury Bills | 896.0 | 1,165.0 | 2,870.0 | -23.1% | -68.8% | | Non-Regulated Markets | 98.8 | 223.9 | 294.1 | -55.8% | -66.4% | | Unlisted Market (Euronext Lisbon) | 0.09 | 0.07 | 0.0 | 32.5% | 263.3% | | Shares | 0.09 | 0.07 | 0.0 | 32.5% | 263.3% | | Other securities | - | - | - | - | - | | EasyNextLisbon (Euronext Lisbon) (1) | 75.1 | 184.0 | 238.8 | -59.2% | -68.5% | | Bonds | 4.5 | 3.5 | 2.8 | 30.2% | 64.3% | | Warrants | 70.6 | 180.4 | 235.6 | -60.9% | -70.1% | | Certificates | 0.02 | 0.08 | 0.4 | -75.9% | -95.6% | | PEX (2) | 23.6 | 39.8 | 55.3 | -40.6% | -57.2% | | TOTAL | 5,437.3 | 9,072.6 | 23,387.9 | -40.1% | -76.8% | Legend: (1) EasyNext Lisbon was created on 01/10/2004.
(2) PEX was created on 19/09/2003.
Note: This table does not consider Off-Market.
Table 4 – Turnover in the Spot Secondary Market (Accumulated Values) Unit: 10^6 Euro
| | Jan-Aug 2008 | Jan-Aug 2007 | Yearly D | | Regulated Markets | 102,054.9 | 162,053.1 | -37.0% | | Stock Exchange Markets | 42,618.9 | 69,572.6 | -38.7% | | Ordinary Sessions | 42,240.6 | 68,861.0 | -38.7% | | Bonds | 391.6 | 43.4 | 803.2% | | Shares | 41,474.2 | 68,755.8 | -39.7% | | Equity Certificates | 1.5 | 0.6 | 167.2% | | Investment Units | 0.2 | 0.1 | 114.5% | | Rights | 368.4 | 0.7 | 51340.0% | | Warrants | - | 1.1 | - | | Certificates | 4.63 | 59.2 | -92.2% | | Convertibles | 0.01 | 0.1 | -85.6% | | Extraordinary Sessions | 378.2 | 711.7 | -46.9% | | Special Public Debt Market | 59,436.0 | 92,480.5 | -35.7% | | Treasury Bonds | 48,683.5 | 82,091.5 | -40.7% | | Treasury Bills | 10,752.5 | 10,389.0 | 3.5% | | Non-Regulated Markets | 1,543.0 | 2,148.0 | -28.2% | | Unlisted Market (Euronext Lisbon) | 0.4 | 40.9 | -98.9% | | Shares | 0.4 | 40.8 | -98.9% | | Other securities | - | 0.1 | - | | EasyNextLisbon (Euronext Lisbon) (1) | 1,160.9 | 1,742.8 | -33.4% | | Bonds | 34.9 | 70.2 | -50.3% | | Warrants | 1,124.9 | 1,666.2 | -32.5% | | Certificates | 1.1 | 6.4 | -83.7% | | PEX (2) | 381.6 | 364.3 | 4.8% | | TOTAL | 103,597.8 | 164,201.1 | -36.9% | Legend: (1) EasyNext Lisbon was created on 01/10/2004.
(2) PEX was created on 19/09/2003.
Note: This table does not consider Off-Market.
Table 5 – Extraordinary Sessions
Unit: 10^6 Euro
There were no Extraordinary Sessions this month
Table 6 - Market Capitalization (Euronext Lisbon) Unit: 10^6 Euro | Market Segment | Aug 2008 | Jul 2008 | Aug 2007 | Dec 2007 | Monthly D | Yearly D | In the year D | | Regulated Markets | 197,470.5 | 210,699.2 | 254,634.0 | 254,073.0 | -6.3% | -22.4% | -22.3% | | Bonds | 39,089.9 | 48,993.0 | 48,991.1 | 45,903.5 | -20.2% | -20.2% | -14.8% | | Shares | 158,106.2 | 161,571.0 | 205,476.9 | 207,895.0 | -2.1% | -23.1% | -23.9% | | Equity Certificates | 28.1 | 28.1 | 28.1 | 28.1 | 0.0% | 0.0% | 0.0% | | Investment Units | 168.7 | 29.5 | 41.0 | 72.6 | 471.5% | 311.9% | 132.5% | | Rights | 0.0 | 0.0 | 0.0 | 43.8 | - | - | -100.0% | | Warrants | 0.0 | 0.0 | 0.0 | 0.0 | - | - | - | | Certificates | 70.0 | 70.0 | 87.0 | 122.0 | 0.0% | -19.5% | -42.6% | | Convertibles | 7.5 | 7.5 | 10.1 | 8.0 | 0.0% | -25.0% | -6.1% | | Non-Regulated Markets | 1,102.6 | 1,192.6 | 2,102.2 | 1,271.9 | -7.5% | -47.6% | -13.3% | | Bonds | 679.5 | 676.1 | 571.1 | 597.0 | 0.5% | 19.0% | 13.8% | | Shares | 95.4 | 113.4 | 306.3 | 152.5 | -15.9% | -68.8% | -37.5% | | Warrants | 244.7 | 312.7 | 1,095.4 | 400.3 | -21.8% | -77.7% | -38.9% | | Certificates | 83.1 | 90.3 | 129.5 | 122.1 | -8.1% | -35.8% | -32.0% | | Other securities | 0.0 | 0.0 | 0.0 | 0.0 | - | - | - | | TOTAL | 198,573.1 | 211,891.7 | 256,736.3 | 255,344.9 | -6.3% | -22.7% | -22.2% |
Forward Market
Table 7 – Turnover in the Forward Market (Monthly) Unit: 10^6 Euro | | Aug 2008 | Jul 2008 | Aug 2007 | Monthly D | Yearly D | | Futures PSI-20 | n/a | 31.9 | 42.1 | n/a | n/a | | Futures on Shares | n/a | 10.4 | 28.6 | n/a | n/a | | Total Futures (1) | n/a | 42.3 | 70.6 | n/a | n/a | | Options PSI-20 | - | - | - | - | - | | Options on Shares | - | - | - | - | - | | Total Options | - | - | - | - | - | Legend: (1) Amounts determined based on the business price. Table 8 – Turnover in the Forward Market (Accumulated) Unit: 10^6 Euro | | Jan-Aug 2008 | Jan-Aug 2007 | Yearly D | | Futures PSI-20 | n/a | 652.5 | n/a | | Futures on Shares | n/a | 155.2 | n/a | | Total Futures (1) | n/a | 807.7 | n/a | | Options PSI-20 | - | - | - | | Options on Shares | - | - | - | | Total Options | - | - | - | Legend: (1) Amounts determined based on the business price.
Asset Management: CIS and REAL ESTATE investment funds Table 9 – Asset Management (Data refers to the previous month) | | 31-07-2008 | 30-06-2008 | 31-07-2007 | 31-12-2007 | Monthly D | Yearly D | In the year D | | CIS | | | | | | | | | No. of Funds | 292 | 291 | 282 | 291 | 1 | 10 | 1 | | Net Asset Value (10^6 Euro) | 19,854.5 | 20,674.8 | 29,746.7 | 25,763.0 | -4.0% | -33.3% | -22.93% | | REIF & SREIF | | | | | | | | | No. of Funds | 222 | 220 | 192 | 204 | 2 | 30 | 18 | | Net Asset Value (10^6 Euro) | 10,515.3 | 10,612.8 | 10,127.2 | 10,450.3 | -0.9% | 3.8% | 0,6% | Legend: CIS (Collective Investment Schemes)=Collective Investment Undertakings in Transferable Securities and Special Investment Funds; REIF=Real Estate Investment Funds; SREIF=Special Real Estate Investment Funds.
The data contained herein is from Dathis, Euronext Lisbon, MTS-Portugal, OPEX and the CMVM (CIS and REIF). The information refers to 2008-09-01. The monthly variation (D monthly) refers to the comparison between the month being analysed and the previous month, annual variation (D annual) the month being analysed and the homologous one, and in the year variation (D in the year) variation value at the end of the current month and the end of the previous year.
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