Portuguese Capital Markets Benchmarks
In October 2008, the PSI-20 Share Index recorded an annual volatility of 68.05%, a gain when compared to September (39.63%). In the first ten months of 2008 the annual volatility of said Index was greater (32.6%) than that recorded on a year-over-year basis (13.88%). The market capitalisation of Euronext Lisbon fell 12.8% down to €162,290 million when compared to September. This drop was mainly due to the -20.6% variance in the share segment of the regulated market. The PSI-20 Share Index fell 20.8% on a monthly basis down to 6,360.51 points. The turnover in the Spot Secondary Market dropped 27% in comparison to September down to EUR 5,564.9 million. The decline was attributable to the -29.8% monthly variance in the Regulated Markets. In the Undertakings for Collective Investment in Transferable Securities and the Special Investment Fund Industry [1], the net asset value under management fell by 7% down to EUR 17,931.1 million in comparison to the previous month. A monthly drop of 0.1% was recorded in the Real Estate Investment Fund and Special Real Estate Investment Fund Industry [2]. 3rd November 2008 Table 1 –PSI-20 Index (Values and variation) | | Oct 2008 | Sep 2008 | Oct 2007 | Dec 2007 | Monthly D | Yearly D | In the year D | | PSI-20 (Closing price) | 6,360.51 | 8,033.23 | 13,005.46 | 13,019.36 | -20.8% | -51.1% | -51.1% |
Table 2 –PSI-20 Index (Volatility) | | Monthly Values | Accumulated Values | | PSI-20 | Oct 2008 | Sep 2008 | Oct 2007 | Jan-Oct 2008 | Jan-Oct 2007 | | Volatility (1) | 68.05% | 39.63% | 12.80% | 32.60% | 13.88% | | Maximum(Date) | 7,999.71 (01-Oct) | 8,754.13 (03-Sep) | 13,005.46 (31-Oct) | 12,892.73 (02-Jan) | 13,702.03 (17-Jul) | | Minimum(Date) | 5,801.76 (27-Oct) | 7,698.53 (18-Sep) | 12,140.64 (01-Oct) | 5,801.76 (27-Oct) | 11,226.69 (02-Jan) | | Price Range % (2) | 37.88% | 13.71% | 7.12% | 122.22% | 22.05% | Legend: (1) Annually adjusted volatility=Standard deviation of daily returns ´ Ö250
(2) Maximum and Minimum refer to closing prices.
(3) Price Range % = (Maximum-Minimum)/Minimum.
Spot Market: Turnover and market capitalization
Table 3 – Turnover in the Spot Secondary Market (Monthly Values) Unit: 10^6 Euro | | Oct 2008 | Sep 2008 | Oct 2007 | Monthly D | Yearly D | | Regulated Markets | 5,251.3 | 7,479.7 | 28,654.4 | -29.8% | -81.7% | | Stock Exchange Markets | 4,079.3 | 4,467.2 | 7,889.9 | -8.7% | -48.3% | | Ordinary Sessions | 4,079.3 | 4,467.2 | 7,884.1 | -8.7% | -48.3% | | Bonds | 90.9 | 15.1 | 6.8 | 500.6% | 1244.6% | | Shares | 3,988.1 | 4,452.0 | 7,877.3 | -10.4% | -49.4% | | Equity Certificates | 0.053 | 0.004 | 0.020 | 1306.5% | 168.9% | | Investment Units | 0.05 | 0.02 | 0.003 | 99.4% | 1593.8% | | Rights | - | - | - | - | - | | Warrants | - | - | - | - | - | | Certificates | 0.05 | 0.012 | 0.001 | 316.0% | 4829.3% | | Convertibles | - | - | 0.003 | - | - | | ETF | 0.032 | 0.0055 | - | 481.2% | - | | Extraordinary Sessions | - | - | 5.8 | - | - | | Special Public Debt Market | 1,172.0 | 3,012.5 | 20,764.5 | -61.1% | -94.4% | | Treasury Bonds | 854.0 | 1,257.5 | 18,360.0 | -32.1% | -95.3% | | Treasury Bills | 318.0 | 1,755.0 | 2,404.5 | -81.9% | -86.8% | | Non-Regulated Markets | 313.7 | 142.3 | 342.4 | 120.4% | -8.4% | | Unlisted Market (Euronext Lisbon) | 0.04 | 0.04 | 0.0 | 9.0% | -5.8% | | Shares | 0.04 | 0.04 | 0.0 | 9.0% | -5.8% | | Other securities | - | - | - | - | - | | EasyNextLisbon (Euronext Lisbon) (1) | 229.9 | 92.2 | 261.8 | 149.4% | -12.2% | | Bonds | 13.3 | 7.9 | 7.1 | 68.9% | 87.2% | | Warrants | 216.6 | 84.2 | 254.2 | 157.2% | -14.8% | | Certificates | 0.05 | 0.10 | 0.4 | -46.6% | -87.6% | | PEX (2) | 83.7 | 50.1 | 80.6 | 67.1% | 3.9% | | TOTAL | 5,564.9 | 7,622.0 | 28,996.8 | -27.0% | -80.8% | 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-Oct 2008 | Jan-Oct 2007 | Yearly D | | Regulated Markets | 114,785.8 | 212,998.5 | -46.1% | | Stock Exchange Markets | 5,.165.3 | 84,468.0 | -39.4% | | Ordinary Sessions | 50,787.1 | 83,750.5 | -39.4% | | Bonds | 497.7 | 53.5 | 830.1% | | Shares | 49,914.3 | 83,635.0 | -40.3% | | Equity Certificates | 1.6 | 0.7 | 133.0% | | Investment Units | 0.3 | 0.1 | 164.0% | | Rights | 368.4 | 0.7 | 51340.0% | | Warrants | - | 1.1 | - | | Certificates | 4.69 | 59.2 | -92.1% | | Convertibles | 0.01 | 0.1 | -86.4% | | Trackers | 0.037 | - | - | | Extraordinary Sessions | 378.2 | 717.5 | -47.3% | | Special Public Debt Market | 63,620.5 | 128,530.5 | -50.5% | | Treasury Bonds | 50,795.0 | 114,592.0 | -55.7% | | Treasury Bills | 12,825.5 | 13,938.5 | -8.0% | | Non-Regulated Markets | 1,999.0 | 2,755.5 | -27.5% | | Unlisted Market (Euronext Lisbon) | 0.5 | 41.1 | -98.7% | | Shares | 0.5 | 41.0 | -98.7% | | Other securities | - | 0.1 | - | | EasyNextLisbon (Euronext Lisbon) (1) | 1,483.1 | 2,212.9 | -33.0% | | Bonds | 56.2 | 81.1 | -30.8% | | Warrants | 1,425.7 | 2,124.7 | -32.9% | | Certificates | 1.2 | 7.1 | -82.9% | | PEX (2) | 515.4 | 501.6 | 2.8% | | TOTAL | 116,784.7 | 215,754.0 | -45.9% | 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 - Market Capitalization (Euronext Lisbon) Unit: 10^6 Euro | Market Segment | Oct 2008 | Sep 2008 | Oct 2007 | Dec 2007 | Monthly D | Yearly D | In the year D | | Regulated Markets | 160,537.8 | 184,742.5 | 256,616.8 | 254,073.0 | -13.1% | -37.4% | -36.8% | | Bonds | 44,730.6 | 39,043.5 | 44,863.9 | 45,903.5 | 14.6% | -0.3% | -2.6% | | Shares | 115,511.2 | 145,428.2 | 211,581.7 | 207,895.0 | -20.6% | -45.4% | -44.4% | | Equity Certificates | 28.1 | 28.1 | 28.1 | 28.1 | 0.0% | 0.0% | 0.0% | | Investment Units | 204.8 | 167.3 | 80.0 | 72.6 | 22.4% | 156.0% | 182.2% | | Rights | 0.0 | 0.0 | 0.0 | 43.8 | - | - | -100.0% | | Warrants | 0.0 | 0.0 | 0.0 | 0.0 | - | - | - | | Certificates | 53.5 | 65.2 | 52.8 | 122.0 | -18.0% | 1.2% | -56.2% | | Convertibles | 7.5 | 7.5 | 10.2 | 8.0 | 0.0% | -25.8% | -6.1% | | ETF | 2.2 | 2.7 | 0.0 | 0.0 | -21.5% | - | - | | Non-Regulated Markets | 1,752.3 | 1,272.6 | 1,523.2 | 1,271.9 | 37.7% | 15.0% | 37.8% | | Bonds | 858.2 | 819.1 | 466.9 | 597.0 | 4.8% | 83.8% | 43.7% | | Shares | 82.9 | 99.7 | 237.1 | 152.5 | -16.9% | -65.0% | -45.7% | | Warrants | 747.6 | 271.7 | 690.5 | 400.3 | 175.2% | 8.3% | 86.8% | | Certificates | 63.6 | 82.0 | 128.7 | 122.1 | -22.4% | -50.6% | -47.9% | | Other securities | 0.0 | 0.0 | 0.0 | 0.0 | - | - | - | | TOTAL | 162,290.1 | 186,015.1 | 258,139.9 | 255,344.9 | -12.8% | -37.1% | -36.4% |
Forward Market
Table 6 – Turnover in the Forward Market (Monthly) Unit: 10^6 Euro | | Oct 2008 | Sep 2008 | Oct 2007 | Monthly D | Yearly D | | Futures PSI-20 | n/a | 97.9 | 57.1 | - | - | | Futures on Shares | n/a | 17.4 | 12.2 | - | - | | Total Futures (1) | n/a | 115.3 | 69.3 | - | - | | Options PSI-20 | - | - | - | - | - | | Options on Shares | - | - | - | - | - | | Total Options | - | - | - | - | - | Legend: (1) Amounts determined based on the business price. Table 7 – Turnover in the Forward Market (Accumulated) Unit: 10^6 Euro | | Jan-Oct 2008 | Jan-Oct 2007 | Yearly D | | Futures PSI-20 | n/a | 1,019.4 | - | | Futures on Shares | n/a | 208.8 | - | | Total Futures (1) | n/a | 1,228.3 | - | | 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 8 – Asset Management (Data refers to the previous month) | | 30-09-2008 | 31-08-2008 | 30-09-2007 | 31-12-2007 | Monthly D | Yearly D | In the year D | | CIS | | | | | | | | | No. of Funds | 288 | 292 | 283 | 291 | -4 | 5 | -3 | | Net Asset Value (10^6 Euro) | 17,931.1 | 19,289.9 | 28,018.7 | 25,763.0 | -7.0% | -36.0% | -30.40% | | REIF and SREIF | | | | | | | | | No. of Funds | 226 | 224 | 194 | 204 | 2 | 32 | 22 | | Net Asset Value (10^6 Euro) | 10,455.5 | 10,469.1 | 10,205.4 | 10,450.3 | -0.1% | 2.5% | 0.1% | 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 2008-11-03. 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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