Trading on the London-based PLUS market got off to a strong start in the first month of the year, with 69,175 bargains, worth a total of £372 million, representing 460 million shares changing hands on PLUS.
This represents the highest monthly total in bargain and value since PLUS Markets Group opened its extended traded offering for business in December 2005. After one full year of operations the January bargains volume was 40% higher than the average for the second half of 2006 and the January trade value was 34% higher than the average for the same period. The number of shares average was down slightly, reflecting the higher unit value of the shares trading, says the firm.
The comparison with the second half only is more representative than a full year comparison because of the surge in membership which took place in July 2007. A full year comparison would indicate higher increases, according to PLUS.
Over 850 small and mid-cap companies are now traded on the PLUS market, 674 of which are PLUS-traded with their listing or quotation on other London markets, and 187 are PLUS-quoted with their listing on the PLUS primary market (as at the end of January 2007). The combined market capitalisation of the PLUS market now exceeds £150 billion.
During 2006, over half a billion trades, worth a total of nearly £3 billion and representing over 5.75 billion shares, took place on PLUS. 60 new companies floated on the PLUS primary market in 2006, with five further new joiners in January.