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Massive Decrease in Turnover at Vienna Stock Exchange
In June, turnover fell by 50%. This is the lowest turnover since 2003. RCB recorded the second-highest turnover figure behind Deutsche Bank.
In the first half year of 2012, turnover reached € 20.4bn. One year before, turnover amounted to € 32.96bn. In June, Vienna Stock Exchange registered a turnover of € 2.65bn after € 5.35bn in the reference period. In December 2011, a decline in turover of more than 50% was observed. This was mainly due to introduction of the securities gains tax.
In the first term of last year, Erste Group was still the second most important trading partner of Vienna Stock Exchange. Now, Raiffeisen ranks second, followed by Morgan Stanley, Erste Group and UBS. Deutsche Bank is still the most important trading partner.
Last year, Vienna Stock Exchange´s ATX registered a 30% decrease. Among European indices, this was one of the worst perfomance. This year, ATX rose by 6.5%.
Last year, Vienna Stock Exchange announced a result from ordinary activities of € 24.35m (2010: € 29.18m) for the financial year 2011. The decline was due largely to lower trading volumes: domestic equity turnover dropped by 18% in 2011 vs. 2010.
“Trading volumes on the Vienna Stock Exchange decreased just like on all other stock exchanges worldwide due to the financial and sovereign debt crisis. Additionally, investors have a tendency to pull out of smaller capital markets faster. But we have taken a number of measures at the Vienna Stock Exchange to revive trading volumes," stressed the two Management Board Members of the VSE, Birgit Kuras and Michael Buhl.