Portuguese Capital Markets Benchmarks
In November 2008, the PSI-20 Share Index dropped to 6,300.41 points, 0.9% apropos October and -51.6% since the beginning of the year. The annual volatility of said Index registered 42.18%, less than 68.05% than that recorded during the previous month. During the first 11 months of 2008, volatility gained 33.43%, which surpassed the 14.03% registered during the identical period in 2007. Euronext Lisbon's market capitalisation fell by a monthly 6.3% to €152,037.4 million in comparison to the €162,290.1 million in October. In the Regulated Markets' front, solely the bond segment showed a positive monthly variation of +1.7%, apropos the shares segment which suffered a downfall of 11.7%.
The turnover in the Secondary Spot Market reached €3,920.3 million, representing a monthly drop of 32.6%. All asset groups showed negative variation - the bonds' group fell by 69.4% and the shares, 35.5%. In the Undertakings for Collective Investment in Transferable Securities and the Special Investment Fund Industry [1], the net asset value under management fell by 10.9%, down to €15,982.5 million in comparison to the previous month. A monthly drop of 1.2% was recorded in the Real Estate Investment Fund and Special Real Estate Investment Fund Industry [2]. 3 December 2008 Table 1 –PSI-20 Index (Values and Variation) | | Nov 2008 | Oct 2008 | Nov 2007 | Dec 2007 | Monthly D | Yearly D | During the Year D | | PSI-20 (Closing Price) | 6.300,41 | 6.360,51 | 13.120,68 | 13.019,36 | -0,9% | -52,0% | -51,6% |
Table 2 –PSI-20 Index (Volatility) | PSI-20 | Nov 2008 | Oct 2008 | Nov 2007 | Jan-Nov 2008 | Jan-Nov 2007 | | Volatility (1) | 42,18% | 68,05% | 15,75% | 33,43% | 14,03% | | Maximum(Date) | 6.972,78 (04-Nov) | 7.999,71 (01-Out) | 13.323,86 (09-Nov) | 12.892,73 (02-Jan) | 13.702,03 (17-Jul) | | Minimum(Date) | 5.852,15 (21-Nov) | 5.801,76 (27-Out) | 12.731,83 (21-Nov) | 5.801,76 (27-Out) | 11.226,69 (02-Jan) | | Price Range % (2) | 19,15% | 37,88% | 4,65% | 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 | | Nov 2008 | Oct 2008 | Nov 2007 | Monthly D | Yearly D | | Regulated Markets | 3.732,6 | 5.489,3 | 24.967,6 | -32,0% | -85,1% | | Stock Exchange Markets | 2.750,1 | 4.317,3 | 9.320,1 | -36,3% | -70,5% | | Ordinary Sessions | 2.750,1 | 4.317,3 | 9.320,1 | -36,3% | -70,5% | | Bonds | 31,5 | 103,0 | 29,4 | -69,4% | 7,2% | | Shares | 2.718,6 | 4.214,2 | 9.289,4 | -35,5% | -70,7% | | Equity Certificates | 0,005 | 0,053 | 0,035 | -90,1% | -84,8% | | Investment Units | 0,01 | 0,05 | - | -80,5% | - | | Rights | 0,0 | - | 0,1 | - | -70,9% | | Warrants | - | - | - | - | - | | Certificates | - | 0,064 | 1,216 | - | - | | Convertibles | - | - | 0,002 | - | - | | ETF’s | 0,009 | 0,0318 | - | -72,2% | - | | Extraordinary Sessions | - | - | - | - | - | | Special Public Debt Market | 982,5 | 1.172,0 | 15.647,5 | -16,2% | -93,7% | | Treasury Bond | 792,5 | 854,0 | 14.224,0 | -7,2% | -94,4% | | Treasury Bills | 190,0 | 318,0 | 1.423,5 | -40,3% | -86,7% | | Non-Regulated Markets | 187,7 | 324,2 | 357,7 | -42,1% | -47,5% | | Unlisted Market (Euronext Lisbon) | 0,01 | 0,09 | 0,1 | -91,6% | -86,9% | | Shares | 0,01 | 0,09 | 0,1 | -91,6% | -86,9% | | Others Securities | - | - | - | - | - | | EasyNextLisbon (Euronext Lisbon) (1) | 147,8 | 240,4 | 259,8 | -38,5% | -43,1% | | Bonds | 5,3 | 14,3 | 2,7 | -62,6% | 98,0% | | Warrants | 142,5 | 226,1 | 257,0 | -37,0% | -44,6% | | Certificates | 0,01 | 0,05 | 0,1 | -74,1% | -90,2% | | PEX (2) | 39,9 | 83,7 | 97,8 | -52,4% | -59,3% | | TOTAL | 3.920,3 | 5.813,5 | 25.325,3 | -32,6% | -84,5% | 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-Nov 2008 | Jan-Nov 2007 | Yearly D | | Regulated Markets | 118.756,5 | 237.966,1 | -50,1% | | Stock Exchange Markets | 54.153,5 | 93.788,1 | -42,3% | | Ordinary Sessions | 53.775,3 | 93.070,6 | -42,2% | | Bonds | 541,2 | 82,9 | 553,0% | | Shares | 52.859,0 | 92.924,4 | -43,1% | | Equity Certificates | 1,6 | 0,7 | 122,4% | | Investment Units | 0,3 | 0,1 | 172,1% | | Rights | 368,5 | 0,8 | 44588,8% | | Warrants | - | 1,1 | - | | Certificates | 4,70 | 60,4 | -92,2% | | Convertibles | 0,01 | 0,1 | -86,7% | | ETF’s | 0,046 | - | - | | Extraordinary Sessions | 378,2 | 717,5 | -47,3% | | Special Public Debt Market | 64.603,0 | 144.178,0 | -55,2% | | Treasury Bonds | 51.587,5 | 128.816,0 | -60,0% | | Treasury Bills | 13.015,5 | 15.362,0 | -15,3% | | Non-Regulated Markets | 2.197,2 | 3.113,2 | -29,4% | | Unlisted Market (Euronext Lisbon) | 0,6 | 41,1 | -98,6% | | Shares | 0,6 | 41,1 | -98,6% | | Other Securities | - | 0,1 | - | | EasyNextLisbon (Euronext Lisbon) (1) | 1.641,4 | 2.472,6 | -33,6% | | Bonds | 62,4 | 83,8 | -25,5% | | Warrants | 1.577,7 | 2.381,6 | -33,8% | | Certificates | 1,2 | 7,2 | -83,1% | | PEX (2) | 555,2 | 599,4 | -7,4% | | TOTAL | 120.953,7 | 241.079,3 | -49,8% | 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 5 - Market Capitalization (Euronext Lisbon) Unit: 10^6 Euro | Market Segment | Nov 2008 | Oct 2008 | Nov 2007 | Dec 2007 | Monthly D | Yearly D
| During the Year D | | Regulated Markets | 150.019,8 | 160.537,8 | 254.652,4 | 254.073,0 | -6,6% | -41,1% | -41,0% | | Bonds | 45.493,5 | 44.730,6 | 45.371,3 | 45.903,5 | 1,7% | 0,3% | -0,9% | | Shares | 101.992,2 | 115.511,2 | 208.990,5 | 207.895,0 | -11,7% | -51,2% | -50,9% | | Participation Bonds | 28,1 | 28,1 | 28,1 | 28,1 | 0,0% | 0,0% | 0,0% | | Investment Trust Units | 204,1 | 204,8 | 80,0 | 72,6 | -0,4% | 155,1% | 181,2% | | Rights | 2.238,8 | 0,0 | 50,4 | 43,8 | - | 4343,7% | 5006,3% | | Warrants | 0,0 | 0,0 | 0,0 | 0,0 | - | - | - | | Certificates | 53,5 | 53,5 | 122,0 | 122,0 | 0,0% | -56,2% | -56,2% | | Convertibles | 7,5 | 7,5 | 10,1 | 8,0 | 0,0% | -25,3% | -6,1% | | ETF’s | 2,1 | 2,2 | 0,0 | 0,0 | -3,6% | - | - | | Non-Regulated Markets | 2.017,6 | 1.752,3 | 1.692,0 | 1.271,9 | 15,1% | 19,2% | 58,6% | | Bonds | 1.250,0 | 858,2 | 597,4 | 597,0 | 45,7% | 109,2% | 109,4% | | Shares | 88,3 | 82,9 | 154,7 | 152,5 | 6,5% | -42,9% | -42,1% | | Warrants | 613,5 | 747,6 | 813,4 | 400,3 | -17,9% | -24,6% | 53,3% | | Certificates | 65,8 | 63,6 | 126,4 | 122,1 | 3,4% | -48,0% | -46,1% | | Other Securities | 0,0 | 0,0 | 0,0 | 0,0 | - | - | - | | TOTAL | 152.037,4 | 162.290,1 | 256.344,3 | 255.344,9 | -6,3% | -40,7% | -40,5% |
Forward Market
Table 6 – Turnover in the Forward Market (Monthly) Unit: 10^6 Euro | | Nov 2008 | Oct 2008 | Nov 2007 | Monthly D | Yearly D | | Futures PSI-20 | 4,9 | 14,8 | 63,4 | -66,5% | -92,2% | | Futures on Shares | 0,4 | 1,3 | 21,4 | -70,7% | -98,3% | | Total Futures (1) | 5,3 | 16,0 | 84,9 | -66,8% | -93,7% | | 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-Nov 2008 | Jan-Nov 2007 | Yearly D | | Futures PSI-20 | 675,0 | 1.082,9 | -37,7% | | Futures on Shares | 180,5 | 230,3 | -21,6% | | Total Futures (1) | 855,4 | 1.313,1 | -34,9% | | 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) | | 31-10-2008 | 30-09-2008 | 31-10-2007 | 31-12-2007 | Monthly D | Yearly D | During the Year D | | CIS | | | | | | | | | No. of Funds | 289 | 288 | 285 | 291 | 1 | 4 | -2 | | Net Asset Value (10^6 Euro) | 15.982,5 | 17.931,1 | 27.320,4 | 25.763,0 | -10,9% | -41,5% | -37,96% | | REIF and SREIF | | | | | | | | | No. of Funds | 227 | 226 | 197 | 204 | 1 | 30 | 23 | | Net Asset Value (10^6 Euro) | 10.334,8 | 10.455,5 | 10.219,5 | 10.450,3 | -1,2% | 1,1% | -1,1% | 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 2008-12-03. 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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