The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamian equities market consolidated its fledgling recovery in the 2013 second quarter, data unveiled yesterday shows, with the BISX All-Share Index up 4.49 per cent for the first half.

The Bahamas International Securities Exchange (BISX), releasing its index and trading results for the six months to June 30, 2013, said the All-Share Index closed the first half up 60.4 at 1,406.66 year-over-year.

“By comparison for the six-month period ending June 30, 2012, the BISX All-Share Index closed at 1,311.53. This represented a year to date decrease of 53.46 or 3.92 per cent,” the BISX report said.

“For the three month period from April 1, 2013, to June 30, 2013, the All-Share Index increased by 16.83 or 1.21 per cent.

“By comparison, for the three month period from April 1, 2012, to June 30, 2012, the Index experienced a decrease of 2.68 or 0.2 per cent.”

This indicates that share prices among BISX-listed stocks are slowly recovering, appreciating in line with improved (until recently) showings on major US and European stock markets.

BISX’s total market captalisation, standing at $2.663 billion at end-June 2013, via its 20 common share listings and six preference/share debt listings, will also have enjoyed a modest boost from the seeming improvement in investor confidence.

And the BISX All-Share Index’s first half showing was only just behind the 5.39 per cent improvement for the FTSE 100 Index, although it was well behind the S&P 500’s 12.63 per cent appreciation.

Yet BISX’s index was well ahead of the MSCI Emerging Market Index’s 10.89 per cent decline over the same period.

“Trading volume for the six month period ending June 30, 2013., was 1,653,674 shares for a value of $7.979 million,” the BISX report said of the Bahamian equities market.

“Trading volume for the six-month period ending June 30, 2012, was 2,827,912 shares for a value of $12.179 million.”

And it added: “Trading volume for the three-month period April 1, 2013, to June 30, 2013, was 1,018,426 for a value of $4.218 million.

“By comparison, for the three month period from April 1, 2012, to June 30, 2012, 1,679,002 shares traded for a value of $6.891 million.”

Trading volumes and valuations are thus looking up, and the BISX report added: “For the six-month period ending June 30, 2013, the average daily trading volume was 13,266 shares, which resulted in an average daily trading value of $64,035.03.

“By comparison, for the six-month period ended June 30, 2012, the average daily trading volume was 22,395 shares for an average value of $96,588.”

It added: “During the three month period from April 1, 2013, to June 30, 2013, the average volume per trading day was 16,290 shares for a value of $67,369.26.

“By comparison, for the three-month period from April 1, 2012, to June 30, 2012, the average volume per trading day was 26,972 shares for an average value of $111,573.”