Total turnover on AEX-Effectenbeurs for the first five months of 1997 was more than 47% above that in the same period in 1996 whilst an AEX-Optiebeurs equivalent period was 56.3% above that of the first five months of 1996.
The cheerful sentiment witch characterised markets virtually all over the world was also to be seen in Amsterdam in the performance of the AEX index, which topped 800 for the first time in its history, reaching a high of 8 1 5. 1 8. Although by the end off the month the index had had to give ground a little, its closing value still represented a 3.6% gain on the position at the end of April. The Amsterdam Midcap index rose by 8.7%, reaching a level 56% higher than that of a year earlier.
AEX-Effectenbeurs
The total turnover on AEX-Effectenbeurs in May was over 157bn guilders. In comparison with the month before this represented an increase of 15bn guilders over April. Shares and bonds contributed to the turnover more or less equally, with 78.9bn guilders from shares and 78.2bn guilders from bonds. The most significant factors behind the upward price movement in May were stable interest rate combined with continuing moderate economic growth.
In Amsterdam spirits were high for the greater part of the month, despite the slightly lower dollar.The publication of mostly favourable quarterly reports also played a part.
Price movement in internationals lagged the market as a whole. The financial sector performed better than average, mainly because of splendid quarterly figures from the banks and insurance companies.
The rise in the Midcap index was to a significant extent caused by continuing interest by investors in technological securities, which are relatively strongly represented in this index.
Docdata returned to the market, this time at a price of 25 guilders, and in the weeks that followed the price remained stable.
The unlisted publishing house Brill announced that it would be moving to the official market in order to improve the liquidity in the share trading.
A few financial institutions, including ABN Amro, NIBstrating and Kempen, reported an initiative to carry on trading in unlisted securities AOT and Van der Molen had said some time ago that they would be giving up their activity in the unlisted market at the end of June.
The building concern BAM reported that the previously announced merger with Wilma would not go ahead. The price of its shares hardly reacted to the news.
In the capital market the average yield rose fractionally to 5.37%. The Dutch government reopened the issue profits 10-year loan at a nominal rate of 5.75%. Interest was so great that the subscription fist could be closed after only one day, by which time the sum of 5bn had been raised at an average yield of 5.82%.
AEX-Optiebeurs
Turnover on AEX-Optiebeurs in May came to 3.7mn contracts, making this the fifth successive month to have a turnover of more than 3 million contracts. Average daily turnover in the month came out at more than 187,000 contracts. In May of last year the corresponding figure was 114,000 contracts.
Stock options contributed more than 2.8mn contracts. The lion's share was made up of some 2 million call options. Two stocks were together good for 45% of the turnover in stock options, ABN AMRO Bank and ING. 802,000 contracts were traded on ABN AMRO Bank and 47 1,000 on ING. In both stocks call options took the lead, 610,000 for ABN AMRO and 348,000 for ING. Other active stocks were Royal Dutch, Reed Elsevier, Ahold and Philips, with turnover figures of 222,000, 161,000, 153,000 and 106,000 respectively.
ABN AMRO Bank was not only the leader in stock options, but also came out top overall.
Options on the AEX index had to be satisfied with second place on the turnover list last month. 638,000 contracts were traded, of which 384,000 were calls and 254,000 puts. Options on the Top 5 index were good for a turnover of more than 39,000 contracts.
The future on the AEX index was the most traded futures contract in May. Of the grand total of 182,000 futures contracts traded, 177,000 were traded in the FTI contract.
Dollar-based products were good for a turnover of almost 40,000 contracts.
The turnover in standardised bond options came to 26,000 contracts.
AEX-Agrarische Termijnmarkt
In May the AEX-Agrarische Termijnmarkt generated a turnover of 1 1,500 contracts. The five hog contract was good for more than 6,000 whole the potato contract also did web with 5,200 contracts traded.
Enquiries:
Amsterdam Exchanges Thom Hoedemakers
+31 20 550 40 14
St James Corporate Paddy Manning
Communications 0171 436 4101
MONTHLY STATISTICS AMSTERDAM EXCHANGES: MAY '97
Indices May 97 May 96 change end '96 change
AEX 790.97 570.09 38.7% 648.24 22.0%
AMX 1,263.68 808.68 56.3% 937.99 34.7%
TOP5 1,268.78 882.35 43.8% 1,024.24 23.9%
E100 1,977.70 1,443.14 37.0% 1,613.20 22.6%
AEX-Effectenbeurs May May 96 change
Turnover (in Dfl, mln)
Shares 78,911 55,602 41.9%
Bonds 78,229 122,123 -35.9%
NMAX 56 -
Total 157,196 177,725 -11.6%
Transactions
Shares 540,285 408,361 32.8%
Bonds 30,749 40,893 -24.8%
NMAX 5,448 -
Total 576,482 449,254 28.3%
AEX-Clearing & Depository May '97 May '96 change
Transactions
Clearing & Settlement 542,740 411,163 32.0%
ASAS 26,524 22,416 18.3%
AEX-Optiebeurs May '97 May '96 change
Premium turnover (in Dfl, mln)
Indices 2,509 1,053 138.3%
Shares 5,084 2,224 128.6%
Other 62 122 -49.5%
Total 7,655 3,399 125.2%
Contracts
Indices 682,053 521,613 30.8%
Shares 2,819,912 1,606,113 75.6%
Futures 182,502 110,891 64.6%
Other 74,034 166,570 -55.6%
Total 3,758,501 2,405,187 56.3%
Exercised contracts
Indices 29,766 24,779 20.1%
Shares 310,002 249,280 24.4%
Futures 3,997 2,942 35.9%
Other 4,215 18,004 -76.6%
Total 347,980 295,005 18.0%
AEX-Agrarische Termijnmarkt May '97 May '96 change
Contracts
Live Hogs 6,061 9,056 -33.1%
Potatoes 5,215 8,660 -39.8%
Piglets 259 198 30.8%
Total 11,535 17,914 -35.6%
AEX-Effectenbeurs Y.T.D. '97 Y.T.D. 96 change
Turnover (in Dfl. mln)
Shares 412,363 275,896 49.5%
Bonds 523,261 587,844 -11.0%
NMAX 121 -
Total 935,745 863,740 8.3%
Transactions
Shares 2,913,679 1,908,816 52.6%
Bonds 185,147 202,874 -8.7%
NMAX 13,442 -
Total 3,112,268 2,111,690 47.4%
AEX-Clearing & Depository
Transactions
Clearing & Settlement 2,943,383 1,929,697 52.5%
ASAS 174,542 123,470 41.4%
AEX-Optiebeurs
Premium turnover (in Dfl. mln)
Indices 14,907 5,525 169.8%
Shares 25,250 8,976 181.3%
Other 613 502 22.2%
Total 40,771 15,003 171.8%
Contracts
Indices 3,635,905 2,755,446 32.0%
Shares 12,926,800 7,539,154 71.5%
Futures 969,336 600,237 61.5%
Other 535,248 666,582 -19.7%
Total 18,067,289 11,561,419 56.3%
Exercised contracts
Indices 229,039 140,610 62.9%
Shares 1,028,515 800,803 28.4%
Futures 27,509 22,797 20.7%
Other 45,359 93,941 -51.7%
Total 1,330,422 1,058,151 25.7%
AEX-Agrarische Termijnmarkt Y.T.D. '97 Y.T.D. '96 change
Contracts
Live Hogs 26,951 16,121 67.2%
Potatoes 24,624 45,908 -46.4%
Piglets 1,532 1,575 -2.7%
Total 53,107 63,604 -16.5%
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information, please contact:
Lex van Drooge: Amsterdam Exchanges NV, Tel: + 31 20 550 45 40
Paddy Manning: St James Corporate Communications, Tel: + 44 171 436 4101
or enter a text search 'Amsterdam Exchanges NV' and 'Business Monitor'.
