BIt Monthly Flash - March 2007

INDICES
Indices up. All Stars recorded the highest level ever at 18,731 points.

In March, S&P/MIB index closed the month at 41,1771 (+1.5% compared to February 2007, +10.1% vs. March 2006), Mibtel at 32,541 (+2.1% compared to February 2007, +11% vs. March 2006), Midex at 45,025 points (+3.4% compared to February 2007, +17.9% vs. March 2006) and MIB at 31,668 (+2.1% compared to February 2007, +10.9% vs. March 2006).

All Stars index closed March 2007 recording its highest level ever at  18,731 points (+6.1% compared to February 2007, +13.4% vs. March 2006); Star at 23,195 (+6% compared to February 2007 and +16.5% vs. March 2006); TechStar at 13.069 (+6% compared to February 2007 and +6.8% vs. March 2006); Mex index of Expandi Market at the end of March amounted to 12,510 points (+0.3% compared to February 2007 and +17.3% vs. March 2006).

CAPITALISATION
Capitalisation increased to € 801 billion, the highest level since January 2001. Capitalisation/GDP ratio is 52.4%.

The capitalisation of domestic companies amounted to € 800.9 billion (+2.2% vs. February 2007 and +8.1% vs. March 2006). The capitalisation/GDP ratio is 52.4%.

The number of listed companies at the end of March is 311, following the admission on Expandi Market of Biancamano (March 7^th) and Toscan Finanza (March 22^nd) and the delisting of CIT from Expandi Market (March 12^th).

SHARE TRADING
Best month ever for turnover

In March 2007, the daily average of share trading amounted to € 6.39 billion (+14.1% compared to February 2007) and 328,265 contracts (+4.8% compared to February 2007). It’s the best month ever by turnover and second month ever by number of contracts. On March 1^st reached the highest record ever for turnover and share trading in a single day with € 9.98 billion. In Q1 2007 the daily average turnover of share trading was € 5.74 billion (+33.9% vs. January-March 2006) with a daily average number of contracts of 307,680 (+24.9% vs. January-March 2006).

The ETF trading in March 2007 reached a daily average turnover of € 128.6 million – new record ever – and an average of 4,305 contracts. In Q1 2007 the daily average turnover of ETF trading was € 114.3 and 5,521 contracts, up 62.3% and 47.1% vs. Q1 2006.

In March, the daily average of Securitised Derivatives trading (CW and Certificates) amounted to € 288.8 million and 22,506 contracts. In Q1 2007 the daily average turnover was € 365.9 million and 23,119 contracts, up 53.3% and 23.5% vs. Q1 2006.

IDEM
Reached the highest record ever for contracts and turnover

IDEM, the Italian derivatives market, achieved the new historical level for daily average standard contracts (161,613) with € 8.34 billion turnover, up 25.3% and 49.5% vs. February 2007. On March 14^th the highest record ever for turnover in a single day with € 19.27 billion.

In Q1 2007 the daily average turnover was € 133,807 standard contracts with a notional turnover of € 6.34 billion, up 25.6% and 45.5% vs. Q1 2006.

Compared with Q1 2006, all the traded securities achieved a strong increase; in particular, for index derivatives 29.5% for FIB, 20.5% for mini-FIB and 39.6% for MIBO.

MOT
Stable transactions

Trading on fixed-income securities achieved a daily average of € 571 million and 10.161 contracts.

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