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2006

Value of exchanges drops but grounds for optimism in 2009

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The value of the world’s listed exchanges continued to drop in November 2008, but there are grounds for optimism following positive share price rallies in recent days, according to Mondo V

The value of the world’s listed exchanges continued to drop in November 2008, but there are grounds for optimism following positive share price rallies in recent days, according to Mondo Visione.
 
Herbie Skeete, managing director of Mondo Visione, says the recent but ultimately inconclusive merger talks between NYSE Euronext and Deutsche Boerse are encouraging to see and he hopes to see continued investment activity within the sector in 2009.
 
The FTSE Mondo Visione Exchanges Index, an indicator of exchanges performance, was down 16.8 per cent in November.
 
‘It’s been a tough year, but there is evidence of investment by exchanges and other operators of trading venues,’ says Skeete. ‘The latest example of this is ICAP’s planned pan-European dark pool and the now aborted talks by NYSE Euronext and Deutsche Borse, showing that there are still prospects for more M&A activity in Europe, USA and Asia.
 
‘We look forward to next year with optimism of an upturn in the FTSE/Mondo Visione Exchanges Index in the first quarter of 2009.’
 
The index closed at 14786.33 on 28 November 2008, down from 17779.52 on 31 October 2008. Year to date, the index has decreased by 69.3 per cent.
 
The FTSE/Mondo Visione Exchanges Index best performer by capital returns in US dollars, was London Stock Exchange with a 3.5 per cent increase in the share price from 31 October to 28 November 2008.
 
The FTSE/Mondo Visione Exchanges Index worst performer by capital returns in US dollars was the NASDAQ OMX Group, with a 33.8 per cent decrease in the share price from 31 October to 28 November 2008.
 

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