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The Oreninc Index fell for the holiday-shortened week ending September 5, 2013. Total dollars announced fell to $36.87m, with $13.5m of that being raised on six brokered deals. Total deals fell to 27, which is likely a product of the Labour Day holiday in both Canada and the United States. While the index is volatile, we do expect it to trend upwards as we move deeper into Fall.
(Click here to see Episode 2 of OrenincTV: Why the CNSX?)
The Oreninc Index fell slightly for the week ending August 29, 2013. While the five-week moving average also dipped, it sits at the second-highest level since March. Total number of offerings has remained high, and the last four weeks has seen more offerings announced than any other four-week period this year to date. From a broad sense, it seems that market sentiment is becoming more positive as the summer holidays wrap up.
The Oreninc Index five-week moving average reached a 22-week high, climbing for the third straight week and for the fifth time in six weeks. In addition, 45 offerings were announced last week, the most since February. It certainly appears the summer lull is coming to an end. The major remaining question: will the Fall and Winter markets come back with gusto or will 2013 end as it began?
Coming off the heels of one of its best weeks YTD, the Oreninc Index dropped off significantly for the week ending August 15, 2013. The week was highlighted by more overall deals, but with only 25% of the total money announced. Underscoring the drop were zero bought deals and only two brokered deals announced, off from 28-week highs for both last week. On a positive note, the five-week moving average was up slightly, indicating that the market as a whole is trending in the right direction as we move out of summer.
The Oreninc Index exploded to its highest level since January for the week ending August 8, 2013. Two $80m+ brokered offerings led the way, marking the first time more than one $50m+ brokered offering has occurred in a single week in 21 weeks. Broker activity was up all around, with brokered vs. total deals over 93%, its highest level since 2011. While the financing market may still be on shaky ground, this week’s heights along with a 14-week high for the five-week moving average give us optimism that we are moving away from 2013’s summer financing lull.
