The Swiss Stock Exchange (SWX) has revealed that trading on the exchange rose substantially between August and September while the benchmark SMI Swiss Index continued to trend lower.
SIX Swiss Exchange, SWX Europe and Scoach Switzerland announced in their third quarter trading report total turnover of CHF184.3bn Swiss francs in September 2008. This was 61.3% higher than in August and 1.5% up on September 2007. Total trades for the month reached their second-highest level ever at 4.54m (the highest level being recorded in January 2008).
Turnover for the third quarter as a whole came to CHF465.3bn – an increase of 0.9% compared with the previous quarter's CHF461bn. There were a total of 11,525,055 trades during the quarter. This represents a rise of 13.7% over the second quarter of 2008 and is 23.4% higher than the third quarter of 2007.
The Swiss blue chip index, the SMI®, has lost 21.56% since the end of 2007, while the broader SPI® is down 19.66%. On the share price front, the SMI® declined 8.07% month-on-month to close at 6,654.9 points, while the SPI® ended September down 8.21% at 5,563.9 points.
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