Vladimír Urbánek (Kurzy.cz)
World markets  |  January 29, 2013 15:04:31

Buffett's interest in the NYSE encouraged confidence in U.S. equity markets


American billionaire and renowned investor Warren Buffett made yesterday however the official pre-bid for NYSE Euronext. Buffett made his offer in November last year, but was only published yesterday. His offer was rejected due to the fact that the exchange later got a better offer from rival Chicago Stock Exchange ICE. Investors consider Buffett's interest in the NYSE for at least a signal of his faith in the recovery of interest in trading in the stock market and stop the long-term trend decline in the volume of trades executed on the stock markets.

The total volume of trades placed in the last year through the NYSE declined by 18%. About 18% also decreased the average daily volume traded on all U.S. equity markets. This indicator declining continuously since 2009. In 2012, the average daily traded 6.42 billion shares.In 2009 it was 9.77 billion. The current average for this year in the range of 6.31 billion.

Assets under management in mutual funds in the U.S. since the beginning of this year grew by a record 3.1 mld.USD. Since 2009, while mutual funds lost by 250 mld.USD.
The value of U.S. equity assets this year, the largest shopping January rally since 1987 has increased by 1 trillion dollars. The S & P 500 is only 4.4% below its historical highs.

According to some comments Buffett wanted to buy NYSE, seeing it as its shares for cheap. Exchange shares now trade on the value of the average PE 11.6 at 16.3 for 25 publicly traded global exchanges.

NYSE share of the U.S. stock market fell to just 20% compared with 82% 10 years ago.

ICE offered at the end of December 2012 NYSE per share $ 33.12. Authorities conduct exchanges with both agreed that the settlement of the transaction occurs in the second half of this year.

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Buffettův zájem o NYSE povzbudil důvěru v US akciové trhy

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