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No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us
The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

Monday, September 1, 2008

Stock trade shrinks in August.





Stock trade shrinks in August. The trade value on the Prague Stock Exchange (PSE) shrunk by 44.2% y/y to CZK 79.9bn (EUR 3.2bn) in August. Trading with shares decreased by 55.3% y/y to CZK 47.5bn. Most of the transactions are booked with CEZ, Erste Bank, Komercni Banka and Telefonica O2. The trade value of bonds declined by 11.7% y/y to CZK 32.4bn. In August were signed 216 contracts for trades with the 6 futures on the bourse worth CZK 28.2mn, down by 84.1% y/y; the number of trades with investment certificates was 219 and were worth some CZK 3.5mn, down by 72.5% y/y. The market capitalisation of all listed companies reached CZK 1,857bn at end-August, up by 6.9% y/y. Domestic issues accounted for 62.8% (CZK 1,166bn), while the foreign ones amounted to CZK 691.3bn. The three largest issues in terms of market capitalisation were CEZ (CZK 756.8bn, up by 18.7% y/y), Erste Bank (CZK 321.2bn, down by 30.6% y/y), and Telefonica O2 (CZK 168.6bn, down by 13.7% y/y). The stock exchange main PX index lost 17.4% y/y to 1,478.2 points on Aug 28.







As I seek to add some eloquence to our track record in support of our claim to be worthy winners, I can only quote Aristotle’s definition of excellence to you: ‘We are what we repeatedly do. Excellence is not an act but a habit’  

An investment banker shows off his knowledge of Greek philosophy in his attempt to win a global Award for Excellence. Unfortunately, Euromoney was unpersuaded

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