Summer rain boosted share trading

Trading on the Nordic Stock Exchange increased markedly in July, operator OMX has said. Trading in stocks and shares was up by an average of 67 percent per day last month compared with July 2006, according to OMX.

Trading on the exchange was valued at 43.5 billion kronor, compared with 26.2 billion in July last year.

The number of transactions increased 85 percent to an average of 173,250 per day. Seven new companies have been listed on the Nordic Exchange. The pan-Nordic bourse now contains 840 companies.

Shares in manufacturing companies have attracted most interest, followed by IT companies.

Online stockbroker Nordnet said it had noted strong demand under July. Some 66 percent more purchases were made compared to July last year, meaning 31,080 transactions per trading day.

Nordnet CEO Klas Danielsson said that the cool weather could be one reason for the upswing. He also said that last July’s figures could have been affected by instability on the markets in spring 2006 as well as by last July’s sunny weather.