Market Report - November 2006
London Stock Exchange Group PLC
07 December 2006
News Release
7 December 2006
MR65-12.06
SETS TRADING UP 62 PER CENT
• Record SETSmm trades in November up 113 per cent
Trading on the London Stock Exchange's order book saw excellent growth during
November 2006. The number of SETS trades was up 62 per cent on November 2005 to
7.7 million, while the value traded increased 36 per cent to £141.8 billion. The
average daily number of trades on SETS in November increased 62 per cent on last
November to 349,199, and the average daily value traded rose 36 per cent to £6.4
billion.
So far in 2006, the total number of trades executed on SETS has reached 71.7
million, compared with 47.3 million trades during the same period last year.
This 52 per cent increase in the total number of SETS trades compared with 2005
reflects a doubling in the year-on-year growth rate.
Included in the SETS figures, SETSmm had a particularly strong month, with the
total number of trades up 113 per cent on November 2005 to a record-breaking 1.8
million, an average of 81,374 trades per day. The value traded was up 81 per
cent to £13.4 billion, or £611 million daily.
Also included in the SETS figures, the Exchange's International Order Book
(IOB), had an excellent month with a 107 per cent increase in the number of
monthly trades to 64,969 and an increase of 109 per cent in the value traded to
£5.4 billion.
ETFs continued their strong growth during November with the number of trades up
91 per cent on the same month last year to 26,094, while the value traded
increased 63 per cent to £2.23 billion. There were 5,646 trades in covered
warrants and structured products during the month, and a total value traded of
£61.2 million, an increase of 145 per cent.
The total number of UK equity trades increased 49 per cent to 8.6 million, while
the total value of UK equities traded during the month was £298.2 billion, up 23
per cent on November 2005.
November was also a strong month for the primary market. The Main Market
attracted 14 IPOs (versus nine last year) - raising a total of £2.7 billion
(versus £781 million last year). There were 18 IPOs on AIM, the same number as
November last year, raising £812 million between them.
These new companies included seven international companies listing on the Main
Market, and seven international flotations on AIM. OAO Severstal, a Russian
steel company, raised £563 million, the largest sum raised by a company joining
the Main Market this month. Among other notable international offerings were
Hochschild Mining plc, a leading-precious metals company from Peru raising £270
million, and Sistema-Hals, a Russian Real Estate and Development company, which
raised £216 million.
RNS, the Exchange's service for the dissemination of company news, transmitted a
total of 16,404 company announcements during November representing a 10.5 per
cent increase on last year and the second-busiest month ever for RNS. Of these
5,713 were news and results announcements, representing 85 per cent of all
company news and results announcements issued in the UK.
There were 22 trading days in November 2006, the same as in November 2005.
- ends -
For further information, please contact:
Saphina Benimadhu Press Office +44 (0)20 7797 1222
newsroom@londonstockexchange.com
Notes to editors:
• About the London Stock Exchange
The London Stock Exchange is the world's premier international equity exchange
and a leading provider of services that facilitate the raising of capital and
the trading of shares.
The London Stock Exchange is the most international equities exchange in the
world and Europe's largest pool of liquidity. By the end of 2005, the market
capitalisation of UK and international companies on the London Stock Exchange's
markets amounted to £4.1 trillion, with £5.2 trillion of equity business
transacted over the year.
The London Stock Exchange is a Recognised Investment Exchange (RIE) under the
Financial Services and Markets Act 2000 and is supervised by the Financial
Services Authority.
Companies considering flotation have a choice of markets:
AIM
AIM is the London Stock Exchange's international market specifically designed
for smaller, growing companies, combining the benefits of a public flotation
with appropriate levels of regulation.
Main Market
The London Stock Exchange's Main Market for established companies seeking
international recognition is one of the world's best known, longest-established
and most liquid markets. It is home to some of the world's largest and most
successful companies, giving them access to one of the deepest pools of capital
in the world.
Professional Securities Market
The Professional Securities Market was established in July 2005, to coincide
with the introduction of the FSA's new Listing Rules. PSM provides a solution
for those issuers seeking to list securities in London without having to
re-state their financial information to IFRS or follow the additional
requirements of an offering to retail investors. Debt securities or depository
receipts of any denomination may be listed on PSM on production of a prospectus
aimed at a wholesale or professional audience.
• IPO
An IPO or Initial Public Offering is when a new company joins one of our markets
and raises capital by issuing shares. This excludes transfers and introductions
(when companies join the market without raising money).
• Indices
Indices are calculated and managed by FTSE Group, a world-leader in the creation
and management of global equity indices. The FTSE Group is jointly owned by the
London Stock Exchange and the Financial Times, but operates as an autonomous
company.
For information about the company or any FTSE indices, please contact
media@ftse.com
• SETS - the electronic order book
It is over eight years since the launch of SETS and the order book continues to
go from strength to strength, compressing spreads and significantly improving
liquidity. SETS has recently delivered record increases in the number of orders
entered and executed as new technology improves efficiency and fuels growth.
• SETSmm
SETSmm is the Exchange's trading service for FTSE 250 and other leading non
order book securities. By combining the best features of the existing SETS and
SEAQ trading services, SETSmm appeals to market users who want to trade
electronically, as well as those customers who use the market making system.
• International Order Book (IOB)
The IOB is the Exchange's order book for the trading of international Depositary
Receipts, negotiable certificates which represent ownership of a given number of
a company's shares and can be listed and traded independently from the
underlying shares.
• Retail Trading Figures
Retail trading figures are available from our website at -
www.londonstockexchange.com/en-gb/products/membershiptrading/retailtradestat
Figures are available from November 2002 to date.
LONDON STOCK EXCHANGE - MONTHLY FACTSHEET FIGURES November 2006
November 2006 November 2005
DOMESTIC EQUITY TRADING Month Year to date Month Year to date
Equity Trading Value (£m) 298,159 2,967,860 242,646 2,309,634
Number of Equity Trades 8,641,654 82,217,118 5,799,298 58,066,641
INTERNATIONAL EQUITY TRADING
Equity Trading Value (£m) 346,772 3,139,436 269,203 2,447,081
Number of Equity Trades 2,296,073 19,708,038 1,700,787 16,450,234
ORDER BOOK TRADING
Order Book Value (£m) 141,782 1,397,286 104,364 970,220
Order Book Trades 7,682,384 71,666,925 4,742,794 47,258,350
November 2006 November 2005
DOMESTIC MARKET CAPITALISATION (£bn) 1,963 1,771
TOTAL NUMBER OF COMPANIES 3,231 3,045
Main Market UK 1,297 1,359
Main Market International 323 333
of which techMARK 139 148
AIM 1,595 1,351
Professional Securities Market (Equity only) 16 2
November 2006 November 2005
MONEY RAISED (£m) Month Year to date Month Year to date
Equity Money Raised:
New issues: Main Market UK 1,092 8,757 634 4,954
New issues: Main Market International 1,559 8,911 147 3,897
New issues: AIM 835 8,068 460 4,443
Further issues: Main Market UK 590 14,288 1,078 8,139
Further issues: Main Market 452 1,716 - 325
International
Further issues: AIM 610 5,105 189 1,982
PSM (new & further, UK & International) - 606 - 38
COMPANIES ADMITTED 48 498 45 543
Debt Money Raised (£m)
Main Market UK 81,407 204,089 10,931 113,989
Main Market International 21,732 182,873 10,644 107,535
PSM ( PSM (UK & International) 1,169 10,757 2,407 24,547
This information is provided by RNS
The company news service from the London Stock Exchange
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