Gains in share prices over the summer have helped the Iseq index to record a gain of 10 per cent since the start of the year, outperforming the leading global indices such as the FTSE 100 and the Dow Jones Industrial Average.
The quarterly report from the Irish Stock Exchange published today shows that smaller companies put in a stellar performance with the Iseq small cap index up 41 per cent for the year to date and 16 per cent in the third quarter alone.
After a strong start to the year financial stocks posted modest gains of 2 per cent in the third quarter but despite the summer lull, the Iseq Financials sub index is still 16 per cent ahead for the year.
Trading volume on the exchange has picked up markedly this year. The average daily number of transactions increased by 29 per cent to 3,075 for the nine months to the end of September, and the value of shares traded increased by 50 per cent to €80.7 billion.
Two new companies, getmobile europe and Irish Estates joined the Irish Enterprise Exchange (IEX) market which was launched in April, 2005. IEX is designed to suit the needs of small to mid-sized companies.