Printer Friendly

VANCOUVER STOCK EXCHANGE MAKES LATE RECOVERY

 VANCOUVER STOCK EXCHANGE MAKES LATE RECOVERY
 VANCOUVER, British Columbia, June 3 /PRNewswire/ -- The Vancouver


Stock Exchange saw a recovery late in May, which pulled the volume and value up to last month's level and steadied the decline in prices.
 Average daily volume for the month of May edged up 2 percent over the previous month to 14.6 million shares for a monthly total of 292 million shares. During the same period, the average daily value dropped by 2 percent to $12.9 million for a monthly total of $259 million.
 In the latter part of the month the Composite Index reversed a downward trend to close at 628.02, up slightly over April's close. The Resource Index led the sub-indices in growth as it added 5 percent to its value during May. At the end of May the market capitalization of the 1,427 companies included in the Composite Index was $4.3 billion.
 Financings for 1992 year-to-date surged by 32 percent over the same period in 1991 to $185 million. Financings by non-resource companies more than doubled over last year to offset a slight decrease in resource company financings. During the first five months of the year, non- resource companies accounted for 52 percent of all money raised through the VSE compared to 34 percent in the same period of 1991. High-tech companies were second only to those in mining in terms of money raised to date this year.
 The exchange's "Senior Board" accounted for 13 percent of total volume and 32 percent of total value, down from the previous month. A sharp decline in large transactions and continued strong trading in the Venture section contributed to the decline.
 The VSE's share of trading on all Canadian exchanges declined marginally to 30 percent of the volume and 4 percent of the value.
 Of the 1,962 issues listed on the exchange during the month of May, 98 posted new highs and 177 posted new lows. The most active stocks by volume included: Texas Star Resources (Venture), V-Tech Diagnostics (Venture), Commonwealth Gold (Resource) Canadian Overseas Exploration (Venture) and United Pacific Gold (Venture).
 Two new Venture companies listed on the VSE in May, the same as last month, compared to seven listed in May 1991. One is involved in the exploration and development of oil and natural gas reserves and has assets located in northeastern British Columbia; the other is in the acquisition, exploration and development of mineral properties with assets located in Idaho.
 One Reverse Take-over was completed during the month. An "RTO" occurs when an established, non-listed company takes over one already listed on the exchange. Great Icelandic Water Corp. (formerly United Homes Ltd.), opened for trading on May 20. The company has the exclusive world-wide rights to market and distribute a sparkling spring water beverage product and a naturally flavoured sweetened beverage, both made from spring water of the Bishop Gwendur springs, located just outside Reykjavik, Iceland.
 Seven companies were upgraded to the "Senior Board" -- an increase of five over last month-compared to two in May 1991. The total number of companies on the Senior Board is now 337.
 Twelve companies were delisted in May compared to 10 in April and 39 in May 1991, bringing the total number of companies listed on the VSE in May to 1,800.
 -0- 6/3/92
 /CONTACT: David A. Laundy of the VAncouver Stock Exchange, 604-689-3334/ CO: Vancouver Stock Exchange ST: British Columbia IN: SU:


KJ -- LA029 -- 6710 06/03/92 16:05 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 3, 1992
Words:585
Previous Article:THE TIMKEN COMPANY TO INCREASE ITS COMMITMENT IN JAPAN
Next Article:STERLING BANCORP NAMES SCHARF CHAIRMAN OF ITS EXECUTIVE COMMITTEE
Topics:


Related Articles
VANCOUVER STOCK EXCHANGE MAINTAINS PACE
MARKET ACTIVITY SLOWS
VANCOUVER STOCK EXCHANGE GAINING STRENGTH
VANCOUVER MARKET MAINTAINS MOMENTUM
VANCOUVER STOCK EXCHANGE MARKET ACTIVITY CONTINUES TO SLOW
MARKETS STRENGTHEN AS VANCOUVER STOCK EXCHANGE ENJOYS POSITIVE YEAR
VANCOUVER STOCK EXCHANGE TRADING CLIMBS DURING THE FIRST HALF
MARACAIBO STOCK EXCHANGE SELECTS VANCOUVER COMPUTERIZED TRADING SYSTEM
VANCOUVER STOCK EXCHANGE (VSE) SELLS ITS COMPUTERIZED TRADING SYSTEM TO UK-BASED EUROPEAN SECURITIES TRADING NETWORK
VSE ENJOYS STRONGEST RESULTS IN SIX YEARS

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