Printer Friendly

VSE HAS RECORD TRADING DURING SECOND QUARTER

 VANCOUVER, British Columbia, July 8 /PRNewswire/ -- Stock prices rose for the ninth consecutive month, as speculation surrounding diamond exploration in the NorthWest Territories, gold exploration in Venezuela and a spike in gold prices pushed market activity on the Vancouver Stock Exchange to record levels.
 Second Quarter 1993
 The volume for the second quarter rose by 28 percent over the previous quarter to an all-time record 1.7 billion shares, surpassing the previous record of 1.4 billion shares traded during the second quarter of 1987. Meanwhile value gained 43 percent over the first quarter to $2.1 billion, also surpassing the record set during the second quarter of 1987.
 First Half 1993
 Volume for the first six months of 1993, at 3 billion shares, was up 51 percent over the same period last year, while value at $3.5 billion jumped by 74 percent.
 The Composite Index added 59 percent to its value during the first half of 1993, to close at 1022.81. The Resource Index led the VSE sub- Indices in growth as it nearly doubled in value since 1992. One factor in the Resource Index's growth has been the recent appreciation in gold prices. The Resource Index has closely followed the gold price since 1990.
 The Resource (Senior Board) section recorded the largest increase in trading activity as volume more than doubled over the first half of 1992, while the value of shares traded increased by 159 percent.
 Trading on all Canadian exchanges for the first six months of 1993 was also up substantially over the same period in the preceding year as total volume increased by 93 percent and value increased by 71 percent. The VSE maintained its 4 percent share of total value this year, while its share of total volume eased slightly to 24 percent.
 Financings for the first six months of 1993 were more than double the same period during the previous year totalling $506 million, as the value of private placements increased by 173 percent.
 June
 Volume for June was up 4 percent over May, and up 80 percent over the same month of 1992. The value of shares traded increased for the eight consecutive month, posting a 155 percent gain over June 1992. Contributing to the increase in value was an increase in the average price per share, which increased to $1.38 during June, the highest monthly average price per share since 1987.
 The Composite Index added 5 percent to its value during June, spurred by a 13 percent gain in the Resource Index, which pushed the Resource Index to a record high of 1356.51. The Venture Index followed with a 3 percent gain, while the Commercial/Industrial Index made fractional gains over May. The market capitalization of the 1,277 stocks included in the Composite Index was $6.99 billion.
 The Exchange's Senior Board portion of total volume eased to 15 percent, while its share of total value grew to 36 percent.
 Of the 1,789 issues listed on the Exchange during the month of June, 242 posted new highs and 87 posted new lows. The most active stocks by volume included: Jacqueline Gold Corp. (Venture), Arrowhead Resources (Venture), Commonwealth Gold (Resource), Adrian Resources (Resource) and Chutine Resources (Venture).
 The VSE's share of trading on all Canadian exchanges dropped slightly from the previous month to 22 percent of the volume and 4 percent of the value.
 Listings
 During the month of June five new companies were posted and called for trading on the VSE, compared to one in the previous month and five in June of 1992. Four of the companies are classified as Venture, while the other is in the Commercial/Industrial Section.
 Of the Venture companies, Fountain House Holdings Corp. began trading on June 7, 1993. The company is involved in the marketing and distribution of an electronic in-home carbonated drink maker called "the Drinksmaker" in the United Kingdom.
 Getty Copper Corp. (listed June 9), Colossal Resources Corp. (June 11) and Curion Ventures Corp (June 25) are engaged in the exploration and development of natural resource properties. All companies are based in Vancouver and hold interest in properties situated in British Columbia.
 Two reverse take-overs were completed during June, compared to five last month and three in June of 1992. A reverse take-over occurs when a non-listed company takes over one already listed on the Exchange.
 West Coast Forest Products Ltd., a British Columbia-based company involved in the production of plywood and veneer, completed its RTO on June 9. The company has been recently upgraded to the Commercial/Industrial section of the Senior Board.
 Grafotto Industries Corp. resumed trading on June 29. With assets in Vancouver, B.C., and Bellingham, Wash., the company is involved in the marketing, development and wholesale of color transfer products.
 Section upgrades increased slightly over last month with three companies upgraded to the Resource section of the Senior Board and one upgraded to the Commercial/Industrial section. Three companies were upgraded last month and four in June of 1992.
 Three companies were delisted from the Exchange during June, slightly less than last months total of four and compared to 17 during the same month last year.
 -0- 7/8/93
 /CONTACT: David A. Laundy of the Vancouver Stock Excange, 604-689-3334/


CO: Vancouver Stock Exchange ST: British Columbia IN: SU:

JL -- LA036 -- 9740 07/08/93 20:46 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 8, 1993
Words:897
Previous Article:GLENDALE FEDERAL BANK COMMENCES EXCHANGE OFFER FOR GLENFED DEBENTURES
Next Article:PSE&G SETS NEW ELECTRIC PEAK DEMAND RECORD
Topics:


Related Articles
VANCOUVER MARKET ACTIVITY UP DURING FIRST QUARTER
VANCOUVER STOCK EXCHANGE TRADING CLIMBS DURING THE FIRST HALF
VANCOUVER STOCK EXCHANGE REPORTS STEADY TRADING ACTIVITY
VANCOUVER STOCK EXCHANGE FIRST QUARTER MARKET ACTIVITY STRONGEST IN SIX YEARS
VSE ENJOYS STRONGEST RESULTS IN SIX YEARS
VSE SET FOR RECORD BREAKING YEAR
STRONG OCTOBER VOLUME CONTRIBUTES TO TRADING RECORD
TRADING RECORDS HIGHLIGHT VSE YEAR
VSE RECORDS HIGHEST FIRST QUARTER FIGURES
RECORD SHARE VOLUME AND VALUE LEAD VSE TO STRONGEST YEAR EVER

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters