15,720,000,000,000 – the total dollar value market capitalization of Europe’s 24 stock markets.
15,640,000,000,000 – the total dollar value market capitalization of US stock markets. The US figure has fallen below that of Europe for the first time since as far back as the World War I, according to some estimates. The growth of emerging European markets such as Russia, strong productivity growth in Europe and the dollar’s weakness have all helped to tip the balance. The number is the latest sign of Europe’s rising importance relative to the US in global capital markets, along with the emergence of London as the preferred destination for international secondary listings and the transfer of some senior investment banking jobs from New York to London.
202 the percentage rise in US real estate sector equity capital markets volumes year to date compared with the same time period in 2006. US real estate ECM volume totals $17 billion via 39 deals so far this year, compared with $5.6 billion via 25 deals in 2006. Deals from Reits account for 36 of the 39 real estate sector deals in 2007 to date. In addition there have been 19 real estate convertibles raising $10.9 billion in 2007 so far, accounting for 64% of industry volume, compared with two convertibles raising $565 million in the equivalent period of 2006, which accounted for 10% of ECM volume in the sector.
64 the percentage of institutional equities trades in the US that will be executed through direct market access, algorithms, program trades or crossing networks by 2008, according to estimates from Tabb Group. Tabb estimates that just over half of institutional equities trade in these ways at present.
