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Trading volume on the Swiss stock exchange fell 13.4 percent to 1.046 billion francs last year compared to the previous year, exchange operator SIX Group said on Wednesday. The number of transactions fell by nearly a quarter to 46.1 million.
Volumes had already decreased in 2021 and 2022. At the end of 2023, the blue chip index SMI was 3.8 percent higher than the previous year.
A total of 10 new companies were listed on the local stock exchange last year, after 14 companies entered the trading area in 2022. According to SIX, the “most important event of the year” was the listing of Novartis subsidiary Sandoz, with a market value of approximately 10.5 billion francs.
This is the first time R&S Group has been listed through a merger with a SPAC; These are shell companies established to acquire unlisted companies.
In addition, 8 Chinese companies listed the so-called GDR countries on the Swiss stock exchange with a volume of 2.4 billion francs. It was stated that currently listed companies are also actively taking advantage of the capital raising opportunity. A total equity capital increase of 8.3 billion francs was achieved in 2023, after 7 billion francs in the previous year.
Looking by trading segment, share sales (including funds and ETPs) fell 15.2 percent last year to 802.5 billion francs. In bonds, trade turnover increased by 10.7 percent to 171.6 billion francs.
Sales in smaller segments with ETFs and securitized derivatives fell sharply. Sales there were down about a third from the previous year. However, according to the statement, new record levels were reached in 2023 in terms of the number of ETFs and structured products offered.
There was a positive development last year on the Spanish stock exchange, where SIX was taken over in 2020. BME ended the year with 2.29 billion transactions; This means a 2.1 percent increase compared to 2022. Capital size increased by almost 17 percent to 1.2 trillion euros.
In mid-December, SIX announced the write-off of 340 million francs of “goodwill” in connection with the takeover of BME. With the additional value adjustment on the Worldline investment, SIX’s 2023 consolidated earnings will be burdened by between 1.0 and 1.1 billion francs. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
