Annual report 2009 - Dexia.com

Shareholder informationStock market evolution in 2009The year 2009 was marked by extreme events on the stockmarkets. The first quarter was one of severe pessimism, whichled market indices to historical lows. Then voluntary governmentintervention with recovery plans and fiscal measures,and central banks with strong liquidity injections, graduallyenabled uncertainties about the global economy to be liftedand colour restored to the stock markets which, from mid-March, began to rise once more.As for the Dexia share, the first quarter 2009 was characterisedby a very severe fall, of more than 64% between theend of 2008 and 6 March 2009, the date when the sharereached its historical low, at EUR 1.100. This downwardtrend is explained by several factors. On the one hand, anamount of alarming news in relation to the banking sectorweighed on the prices of financial shares in general. On theother hand, there were reasons specific to Dexia and in particularthe publication of the annual results for 2008, heavilyimpacted by the crisis, with the announcement of a net lossof EUR 3.3 billion, as well as uncertainties as to the sustainabilityof the business model, the Group’s capacity to secureits funding and to rebalance its balance sheet.From March, more positive news from US banks had a favourableinfluence on their counterparts on this side of the Atlantic.The Dexia share rose significantly, multiplying its price by 4and positioning Dexia among the strongest risers on the CAC40 at the end of June 2009. During the second half of theyear, the share price continued to rise, reaching a high of EUR7.060 in October. It then fell back to close the year at EUR4.460, up 39% on 31 December 2008, less than the rise ofthe EURO STOXX Banks, which gained almost 49% in 2009.Management reportConsolidatedfinancial statementsSTOCK MARKET DATA 31/12/08 31/12/09Share price (1) (in EUR) 3.200 4.460Stock market capitalisation (in millions of EUR) 5,640 7,861(1) For 31 December 2008, the average price on Euronext Brussels and Euronext Paris. On 14 January 2009, following the introduction of the single order book,the benchmark for the Dexia share became Euronext Brussels; nevertheless, the share continues to be traded on Euronext Paris.DEXIA’S STOCK MARKET PERFORMANCEShare price as at 31 December 2008 (in EUR) 3.200Share price as at 31 December 2009 (in EUR) 4.460Highest price/lowest price (in EUR) 7.060/1.100Average daily transaction volume (in millions of EUR) 21,365Daily number of shares exchanged (in thousands of shares) 4,640Annual financial statementsAdditional informationAnnual report 2009 Dexia 47