Statistical Bulletin no. 26/1 - Market - Genuary 2025
 

Financial markets in 2024

In 2024, the number of Italian and foreign companies listed on Italian regulated markets or admitted to trading on Italian multilateral trading facilities, for which Consob is the competent national authority pursuant to Article 4 of the MAR Regulation and Article 27 of the MiFIR Regulation (hereinafter referred to as “supervised listed companies”), decreased from 444 to 434 (Italian companies decreased from 428 to 419). This decrease was mainly due to the reduction of companies on Euronext Milan (17 delisting, of which 2 foreign, compared to 2 admissions), partially offset by the increase on Euronext Growth Milan (21 admissions, compared to 14 delisting) and the decrease on Vorvel (1 admission compared to 3 delisting).

The capitalisation of supervised listed companies increased by 4% (12% for Italian companies), mainly due to effect of the positive market performance (the Ftse All Share Italia index increased by 18% in the year). The ratio of capitalization to GDP increased from 37.5% at the end of 2023 to 38.1% (calculated on GDP updated at the end of September 2024).

During 2024, the turnover of trades in shares of supervised listed companies increased by 17% (20% for Italian only). However, margins held by participants in the central counterparty system (Euronext Clearing) for Italian regulated markets decreased by 9% down from 15 billion euros to 13.6 billion euros. Meanwhile, the number of members decreased from 161 to 149.

The notional value of standardized equity derivatives trades contracted by 1% due to a decline in both index and equity options transactions. At the end of December 2024, the number of open positions in derivatives was 20% lower than at the end of December 2023. The total turnover on the multilateral trading facilities SedeX and EuroTLX of trades in covered warrants and certificates during 2024 increased by 44% and this increase mainly involved certificates on SeDex and EuroTLX.

Net short positions on shares of both supervised and Italian listed companies amounted to 1.2% of total capitalisation (up from 0.8% at the end of December 2023), while for companies in the financial sector, this figure remained stable at 0.8%.

Finally, the value of transactions in Italian government bonds on Italian trading platforms increased by 77% compared to 2023, while the value of transactions in bonds issued by Italian entities other than government securities grew by 5%. The value of transactions in ETFs and securitised derivative (ETC/ETNs) grew by 25%, similarly to the value of transactions in mutual funds, which rose by 21%.

The Report was prepared by:
Gaetano N. Finiguerra (Coordinatore) - CONSOB, Head of Statistics Office, Research Department (g.finiguerra@consob.it)
Francesco Scalese - CONSOB, Statistics Office, Research Department (f.scalese@consob.it)
Davide Danzilli  - CONSOB, Statistics Office, Research Department (d.danzilli@consob.it)
 

Thanks to Simone Fioravanti (s.fioravanti@consob.it), Sandro Leocata (s.leocata@consob.it) for their collaboration.

Editorial secretary: Andrea Cianciullo

For information and clarifications write to: Ufficio.Statistiche@consob.it

ISSN 2281-3101 [online]