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Securitisation is not dead

Securitisation is not dead

By Michael Heise, chief economist Allianz Group/Dresdner Bank

Selling short

Selling short

Euromoney's coverage of past short selling regulations and questionable events is worth a look today

Tuesday, July 1, 2008

Stock trade shrinks, market capitalisation grows in June.





Stock trade shrinks, market capitalisation grows in June. The Prague Stock Exchange (PSE) overall trade value reached CZK 112.3bn (EUR 4.6bn) in June, translating into an 11.8% y/y decline, the bourse statistics show. Trading with shares increased 6.7% y/y to CZK 74.5bn with the most traded shares being those of power utility company CEZ, Komercni Banka, New World Resources among others. The trade value of bonds dropped by 34.2% y/y to CZK 37.6bn. In June were signed 509 contracts for trades with the 6 futures on the bourse worth CZK 77.1mn, down by 56.5% y/y; the number of trades with investment certificates was 153 and were worth some CZK 39.5mn. The market capitalisation of all listed companies reached CZK 1,877bn at end-June, up by 3.4% y/y . Domestic issues accounted for 63.5% (CZK 1,191bn), while the foreign ones amounted to CZK 685bn. The three largest issues in terms of market capitalisation were CEZ (CZK 797.1bn, up by 22.8% y/y), Erste Bank (CZK 299.7bn, down by 43.1% y/y), and Telefonica O2 (CZK 156.6bn, down by 18.4% y/y). The stock exchange main PX index lost 20.2% y/y to 1,483.5 points on Jun 30.







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