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BISX Publishes 2008 Trading Report,
by Phillip Morton, Investors Offshore.com
Friday, February 06, 2009
The Bahamas International Securities Exchange (BISX) has released its year-end statistical
report for the period ending December 31, 2008.
The BISX All Share Index closed 2008 at 1712.36,
which represented a year to date decrease of 354.39 points or 17.15%. On December
31, 2007 the Index closed at 2066.75 and had gained 390.56 points or 23.30% over the previous 12 months.
The
BISX All Share Index is a market capitalization weighted index comprised of
all primary market listings excluding debt securities. As at December 31, 2008
the market was comprised of 24 primary market listings with a market capitalization
of USD3.03bn. The primary market securities traded over BISX include 19 common
share listings, 1 preference share listing and 4 tranches of debt.
Trading volume in 2008 amounted to 9,623,219 shares for a value of USD71,553,200.
This compares to 2007 when 4,770,270 shares changed hands for a trade value of
USD28,255,500. The Trading volume for 2008 includes a 5 million share trade
for a value of USD40m which was carried out in September 2008 for ICD
Utilities Limited. Removing this large transaction from the full year
statistics results in a trade volume of 4,623,219 shares and a trade value of
USD31,553,000 for the year 2008.
The BISX experienced limited declines
over the 12 month period January to December 2008 when compared with other equity
markets. While the BISX All Share index lost 17.15% in value between December 31, 2007 and December 31,
2008, by comparison, the MSCI Emerging Market Index, S&P 500 Index and the FTSE
100 Index experienced declines of -49.45%, -38.49% and -31.33% over the year,
respectively.
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