Portuguese Capital Markets Benchmarks
The market capitalization of Euronext Lisbon soared 31.6% up to EUR 204,223.5 million at the end of 2009 (EUR 155,231.4 million in 2008). The equity segment of the regulated market contributed greatly to this with a 51.8% hike up to EUR 172,304.6 million.
The value of transactions in the Spot Market fell 14.9% down to EUR 105,450.3 million in 2009, while the transactions in the futures markets tumbled 45.6% down to EUR 491,4 million.
The PSI-20 Index closed at 8,463.85 points in 2009, 33.5% more than in 2008 and 2.5% more than at the end of November 2009. Portugal Telecom, EDP and Galp Energia were issuers with the greatest weighting in the index at the end of 2009.
In 2009 the volatility of the PSI 20 was 18.43%, almost half of that recorded in 2008 (32.57%).
In the Undertakings for Collective Investment in Transferable Securities and Special Investment Funds Industry[1], the net asset value under management edged 2.4% up in November to EUR 16,958.0 million in comparison with the preceding month. The net asset value under management in the Real Estate Investment Funds and the Special Real Estate Investment Funds Industry[1] recorded a growth of 1.8% climbing up to EUR 11,895.5 million.
PSI-20 Index
Table 1 - Values and Variation
|
|
Dec 2009 |
Nov 2009 |
Dec 2008 |
Monthly D |
Yearly D |
|
PSI-20 (Closing Price) |
8,463.85 |
8,253.96 |
6,341.34 |
2.5% |
33.5% |
Table 2 – Volatility
|
|
Monthly Values |
Accumulated Values |
|
PSI-20 |
Dec 2009 |
Nov 2009 |
Dec 2008 |
Jan-Dec 2009 |
Jan-Dec 2008 |
|
Volatility (1) |
13.95% |
14.77% |
20.47% |
18.43% |
32.57% |
|
Maximum(Date) |
8,500.55 (30-Dec) |
8,579.54 (16-Nov) |
6,357.78 (30-Dec) |
8,882.69 (19-Oct) |
12,892.73 (02-Jan) |
|
Minimum(Date) |
8,059.54 (09-Dec) |
8,253.96 (30-Nov) |
6,021.55 (05-Dec) |
5,743.09 (03-Mar) |
5,801.76 (27-Oct) |
|
Price Range % (2) |
5.47% |
3.94% |
5.58% |
54.67% |
122.22% |
Legend: (1) Annually adjusted volatility=Standard deviation of daily returns ´ Ö250
(2) Price Range % = (Maximum-Minimum)/Minimum. Maximum and Minimum refer to closing price.
Table 3 –PSI-20 Portfolio (End-period)
|
Shares |
Dec 2009 |
Nov 2009 |
Dec 2008 |
Monthly D |
Yearly D |
|
TELECOM-N. |
15.208% |
14.736% |
18.185% |
0.472 p.p |
-2.977 p.p |
|
E.D.P.NOM. |
12.495% |
12.590% |
17.553% |
-0.095 p.p |
-5.058 p.p |
|
GALP-NOM |
11.599% |
11.830% |
7.651% |
-0.231 p.p |
3.947 p.p |
|
BCP....NPR |
10.717% |
11.471% |
10.564% |
-0.754 p.p |
0.154 p.p |
|
BES.NPR |
10.289% |
10.758% |
8.597% |
-0.469 p.p |
1.692 p.p |
|
BRISA-PRIV |
7.482% |
7.127% |
7.427% |
0.355 p.p |
0.055 p.p |
|
J.MARTINS |
5.938% |
5.692% |
4.495% |
0.246 p.p |
1.443 p.p |
|
EDP RENOVA |
5.580% |
5.647% |
5.608% |
-0.067 p.p |
-0.028 p.p |
|
CIMPORSGPS |
4.169% |
3.371% |
4.207% |
0.798 p.p |
-0.039 p.p |
|
PTMULT.NOM (ZON) |
3.364% |
3.383% |
3.537% |
-0.02 p.p |
-0.173 p.p |
|
SONAE SGPS |
2.686% |
2.840% |
1.797% |
-0.154 p.p |
0.889 p.p |
|
BANCO BPI |
2.577% |
2.755% |
3.238% |
-0.178 p.p |
-0.661 p.p |
|
REN |
1.546% |
1.561% |
1.945% |
-0.016 p.p |
-0.4 p.p |
|
PORTUCEL.N |
1.466% |
1.435% |
1.528% |
0.03 p.p |
-0.062 p.p |
|
SEMAPA.NOM |
1.240% |
1.206% |
0.584% |
0.034 p.p |
0.656 p.p |
|
MOTAENGIL |
1.089% |
1.083% |
1.112% |
0.006 p.p |
-0.024 p.p |
|
ALTRI |
0.791% |
0.763% |
0.552% |
0.028 p.p |
0.238 p.p |
|
SONAE.IND. |
0.626% |
0.631% |
0.494% |
-0.005 p.p |
0.132 p.p |
|
TEIXEIRA DUARTE |
0.593% |
0.604% |
0.452% |
-0.011 p.p |
0.142 p.p |
|
SONAECOM |
0.546% |
0.516% |
0.473% |
0.03 p.p |
0.073 p.p |
|
TOTAL |
100.0% |
100.0% |
100.0% |
- |
- |
Legend: The Index weightings are based on the Euronext Data Announcements. Amounts were determined using the closing prices of the last business day of the month being analysed.
Spot Market:
Table 4 – Turnover in the Spot Secondary Market (Monthly Values)
Unit: 10^6 Euro
|
|
Dec 2009 |
Nov 2009 |
Dec 2008 |
Monthly D |
Yearly D |
|
Regulated Markets |
7,735.5 |
15,092.9 |
2,785.0 |
-48.7% |
177.8% |
|
Stock Exchange Markets |
2,239.0 |
2,293.9 |
1,962.5 |
-2.4% |
14.1% |
|
Ordinary Sessions |
2,239.0 |
2,293.9 |
1,962.5 |
-2.4% |
14.1% |
|
Bonds |
29.3 |
9.0 |
46.6 |
224.0% |
-37.0% |
|
Shares |
2,209.6 |
2,284.8 |
1,915.8 |
-3.3% |
15.3% |
|
Equity Certificates |
0.020 |
0.003 |
0.007 |
472.7% |
178.8% |
|
Investment Units |
0.02 |
0.09 |
0.082 |
-74.0% |
-71.5% |
|
Rights |
- |
- |
0.0 |
- |
- |
|
Warrants |
- |
- |
- |
- |
- |
|
Certificates |
- |
- |
- |
- |
- |
|
Convertibles |
- |
- |
- |
- |
- |
|
ETF's |
- |
- |
0.0 |
- |
- |
|
Extraordinary Sessions |
- |
- |
- |
- |
- |
|
Special Public Debt Market |
5,496.5 |
12,799.0 |
822.5 |
-57.1% |
568.3% |
|
Treasury Bonds |
3,772.5 |
10,129.0 |
572.5 |
-62.8% |
559.0% |
|
Treasury Bills |
1,724.0 |
2,670.0 |
250.0 |
-35.4% |
589.6% |
|
Non-Regulated Markets |
67.5 |
121.0 |
151.9 |
-44.2% |
-55.6% |
|
Unlisted Market (Euronext Lisbon) |
0.00 |
0.00 |
0.0 |
- |
-100.0% |
|
Shares |
0.0 |
0.3 |
0.0 |
-1.0 |
- |
|
EasyNextLisbon (Euronext Lisbon) (1) |
37.0 |
86.0 |
118.6 |
-56.9% |
-68.8% |
|
Shares |
0.0 |
0.3 |
- |
-95.7% |
- |
|
Bonds |
3.3 |
15.4 |
3.8 |
-78.6% |
-13.0% |
|
Warrants |
33.7 |
70.3 |
114.8 |
-52.0% |
-70.6% |
|
Certificates |
- |
- |
- |
- |
- |
|
PEX (2) |
30.4 |
35.0 |
33.2 |
-13.2% |
-8.5% |
|
TOTAL |
7,803.0 |
15,213.9 |
2,936.8 |
-48.7% |
165.7% |
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 – Turnover in the Spot Secondary Market (Accumulated Values)
Unit: 10^6 Euro
|
|
Jan-Dec 2009 |
Jan-Dec 2008 |
Yearly D |
|
Regulated Markets |
104,337.2 |
121,541.5 |
-14.2% |
|
Stock Exchange Markets |
32,096.2 |
56,116.0 |
-42.8% |
|
Ordinary Sessions |
32,085.0 |
55,737.8 |
-42.4% |
|
Bonds |
304.9 |
587.8 |
-48.1% |
|
Shares |
31,650.5 |
54,774.7 |
-42.2% |
|
Equity Certificates |
0.2 |
1.6 |
-87.6% |
|
Investment Units |
0.8 |
0.4 |
101.4% |
|
Rights |
128.6 |
368.5 |
-65.1% |
|
Warrants |
- |
- |
- |
|
Certificates |
0.07 |
4.7 |
-98.5% |
|
Convertibles |
- |
0.0 |
- |
|
ETF's |
0.005 |
0.1 |
-89.9% |
|
Extraordinary Sessions |
11.2 |
378.2 |
-97.0% |
|
Special Public Debt Market |
72,241.0 |
65,425.5 |
10.4% |
|
Treasury Bonds |
57,248.5 |
52,160.0 |
9.8% |
|
Treasury Bills |
14,992.5 |
13,265.5 |
13.0% |
|
Non-Regulated Markets |
1.113.1 |
2,349.0 |
-52.6% |
|
Unlisted Market (Euronext Lisbon) |
0.5 |
0.6 |
-20.4% |
|
Shares |
0.5 |
0.6 |
-20.4% |
|
EasyNextLisbon (Euronext Lisbon) (1) |
693.9 |
1,760.0 |
-60.6% |
|
Shares |
0.3 |
- |
- |
|
Bonds |
90.0 |
66.2 |
35.9% |
|
Warrants |
603.8 |
1,692.5 |
-64.3% |
|
Certificates |
- |
1.2 |
- |
|
PEX (2) |
418.8 |
588.5 |
-28.8% |
|
TOTAL |
105,450.3 |
123,890.5 |
-14.9% |
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 6 - Extraordinary Sessions
|
Date |
Target Company |
Offeror |
Type |
Securities |
Value |
|
16-12-2009 |
FUTEBOL CLUBE DO PORTO. FUTEBOL. SAD |
|
OPS |
Bonds |
| .
Table 7 - Market Capitalization (Euronext Lisbon)
Unit: 10^6 Euro
|
Market Segment |
Dec 2009 |
Nov 2009 |
Dec 2008 |
Monthly D |
Yearly D |
|
Regulated Markets |
202,207.4 |
205,161.7 |
153,515.7 |
-1.4% |
31.7% |
|
Bonds |
29,738.3 |
35,318.2 |
39,750.6 |
-15.8% |
-25.2% |
|
Shares |
172,304.6 |
169,679.2 |
113,523.9 |
1.5% |
51.8% |
|
Equity Certificates |
28.1 |
28.1 |
28.1 |
0.0% |
0.0% |
|
Investment Units |
136.3 |
136.3 |
193.1 |
0.0% |
-29.4% |
|
Rights |
0.0 |
0.0 |
0.0 |
- |
- |
|
Warrants |
0.0 |
0.0 |
0.0 |
- |
- |
|
Certificates |
0.0 |
0.0 |
17.7 |
- |
-100.0% |
|
Convertibles |
0.0 |
0.0 |
0.2 |
- |
-100.0% |
|
Trackers |
0.0 |
0.0 |
2.1 |
- |
-100.0% |
|
Non-Regulated Markets |
2,016.1 |
1,969.2 |
1,697.7 |
2.4% |
18.8% |
|
Bonds |
1,694.2 |
1,641.0 |
1,314.8 |
3.2% |
28.9% |
|
Shares |
126.5 |
127.1 |
49.5 |
-0.5% |
155.8% |
|
Warrants |
195.4 |
201.1 |
284.2 |
-2.8% |
-31.2% |
|
Certificates |
0.0 |
0.0 |
49.3 |
- |
-100.0% |
|
Other securities |
0.0 |
0.0 |
0.0 |
- |
- |
|
TOTAL |
204,223.5 |
207,131.0 |
155,213.4 |
-1.4% |
31.6% |
Forward Market
Table 8 – Turnover in the Forward Market (Monthly)
Unit: 10^6 Euro
|
|
Dec 2009 |
Nov 2009 |
Dec 2008 |
Monthly D |
Yearly D |
|
Futures PSI-20 |
79.9 |
26.4 |
45.3 |
202.4% |
76.4% |
|
Futures on Shares |
5.6 |
1.1 |
1.8 |
403.3% |
206.3% |
|
Total Futures (1) |
85.5 |
27.5 |
47.1 |
210.5% |
81.4% |
|
Options PSI-20 |
- |
- |
- |
- |
- |
|
Options on Shares |
- |
- |
- |
- |
- |
|
Total Options |
- |
- |
- |
- |
- | Legend: (1) Amounts determined based on the business price.
Table 9 – Turnover in the Forward Market (Accumulated)
Unit: 10^6 Euro
|
|
Jan-Dec 2009 |
Jan-Dec 2008 |
Yearly D |
|
Futures PSI-20 |
458.1 |
720.3 |
-36.4% |
|
Futures on Shares |
33.3 |
182.3 |
-81.7% |
|
Total Futures (1) |
491.4 |
902.5 |
-45.6% |
|
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 10 – Asset Management (Data refers to the previous month)
|
|
30-11-2009 |
31-10-2009 |
30-11-2008 |
31-12-2008 |
Monthly D |
Yearly D |
In the Year D |
|
CIS |
|
|
|
|
|
|
|
|
No. of Funds |
289 |
288 |
293 |
292 |
1 |
-4 |
-3 |
|
Net Asset Value (10^6 Euro) |
16,958.0 |
16,553.5 |
15,211.4 |
14,341.8 |
2.4% |
11.5% |
18.24% |
|
REIF and SREIF |
|
|
|
|
|
|
|
|
No. of Funds |
244 |
243 |
229 |
231 |
1 |
15 |
13 |
|
Net Asset Value (10^6 Euro) |
11,895.5 |
11,687.0 |
10,337.5 |
10,620.9 |
1.8% |
15.1% |
12.0% |
Legend: CIUs (Collective Investment Undertakings) = Collective Investment Undertakings in Transferable Securities and Special Investment Funds; REIF=Real Estate Investment Funds; SREIF=Special Real Estate Investment Funds. Unless otherwise indicated, the data contained in this table are a result of the information reported to the CMVM by the Management Companies in accordance with the legislation in force. As from December 2008, the funds established pursuant to Ministerial Order No. 264/95 of 11th August, are not included. 'Fundo de Investimento Imobiliário Urbifundo' and the respective managing entity, Companhia Gestora do Fundo de Investimento Imobiliário Urbifundo SA, were also not included due to the respective compulsory liquidation (Resolution by the Executive Board of the CMVM on 11 November 2009).
|
|
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