Press releases 1999

30 December 1999

 

RECORD TRADING YEAR FOR LONDON'S EQUITY MARKETS

 

The London Stock Exchange saw record volumes traded on its international and domestic markets during 1999 - with international business up 10.1 per cent by value and domestic business up 36 per cent.

 

Commenting on the year, the Exchange said: "Like many equity markets, London has enjoyed buoyant levels of trading in 1999. The continued growth of our international business, particularly the record amount of money raised by Eurobond issuers, provides a positive reminder of one of London's key strengths.

 

"As the Exchange prepares for demutualisation, we will continue to develop our trading services for both issuers and investors to ensure they remain among the most competitive and attractive of any market in the world."

 

UK Equity Market

 

On the domestic market, the total value of UK equities traded during 1999 rose to 1,406.6 billion - up 36 per cent from 1,037.1 billion in December 1998. The total number of UK bargains also increased to a record 20,920,000 - up 29 per cent from 16,220,000 bargains in 1998 (an average of 81,644 a day).

 

All the major UK FTSE indices set records in 1999.

 

International Market

 

Trading in international equities also showed solid gains. At the end of 1999, turnover value reached 2,403 billion - up over 10.1 per cent from 2,183 billion in December 1998. The number of bargains increased to a record 7.49 million (1998: 7.12 million).

 

Major new international listings included Toyota Motor Corporation, Konami, Korea Telecom, South African Breweries, Anglo American and Israel's Bank Hapoalim. London further increased its number one position for Eurobond issues with a record 173.9 billion raised at issue.

 

AIM

 

AIM has seen strong growth this year. The value of trading grew to a record 5.26 billion - up 170 per cent from 1.95 billion at the end of 1998. The number of bargains rose to 814,334 - up 261 per cent from 225,494 in 1998. On 13 December, the AIM index reached a new high of 1872.4 - an annual increase of 133 per cent - making it the best-performing UK index this year.

 

techMARK

 

techMARK, the new market for technology companies, was launched successfully in November. Its two supporting indices, the FTSE techMARK All Share and FTSE techMARK 100 have both shown strong growth. The techMARK 100 index (which highlights those companies with a market capitalisation of under 4 billion) has grown 60 per cent since the market's launch, making it the best-performing index for technology companies in Europe.