ME trading in ’87 at record levels

Trading activity in the Montreal Exchange’s equity and options markets in 1987 was at record levels, the stock exchange reports.

The general market portfolio index rose 3.7% compared with 1986 on a volume of more than two billion shares. The mining and minerals index jumped close to 30%.

Fewer newer companies were listed in 1987 compared with 1986 (a record year), although the number of companies listed at the end of 1987 was up 15% from the year before. Of the 123 new firms listed in 1987, 46 (37%) were resource companies.

The value of the more than two billion shares traded in 1987 totalled $22.15 billion, up 38.6% over 1986, while the number of transactions rose 50.5% to 1.92 million.

The average daily volume last year was 8.1 million shares, nearly double the 1986 figure. The average dollar value traded per day reached $87.6 million, up from $63.5 million in 1986.

Total options volume in 1987 reached a record 1.78 million contracts traded, exceeding 1986’s activity by 27.1%.