Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nulla efficitur turpis a nisl lobortis luctus. In accumsan augue lectus, non
posuere nisl gravida in. Integer orci libero, interdum id interdum euismod, molestie id tellus. Duis non facilisis nulla.
The Oreninc Index rose marginally for the week ending October 10, 2013. Bought dollars announced rose to its highest level since January to $99.6m and total dollars announced rose to $151.5m, matching the total from two weeks ago. Both of these numbers are largely due to the Twin Butte Energy deal and while they are promising, the Index continued to hardly move due to the bottom end of the financing market still dragging.
The Oreninc Index remained flat for the week ending October 3, 2013. Total dollars fell to $79.8m, with an average deal size of $2.4m. Even with the drop in total dollars, broker activity increased sharply to $60.5m on four deals. After a summer of wild fluctuation, this period of relative consistency is a mild surprise. It’s hard to imagine it sticking around, with 2013’s trademark volatility likely to return before we enter back into any sort of real stability.
The Oreninc Index held steady for the week ending September 26, 2013. While total dollars fell to $149.2m, it marks the first time since January that two consecutive weeks have had over $100m announced. Broker activity dropped to $23.5m announced on three deals. This week continues the trend of one major deal bolstering the Index and accounting for a lot of its performance. Even so, the fact that two consecutive weeks have performed well shows us some consistency that has been lacking in recent memory.
The Oreninc Index jumped to a four-week high for the week ending September 19, 2013. Total dollars announced rose to $198.9m, with an average deal size of $7.95m for the week. These numbers mostly reflect three $40m-plus deals announced, but even without them average deal size would have nearly doubled compared to last week. Broker activity increased with four deals announced for $72.1m. After a more stagnant than expected first couple weeks of September, the Index seems to be showing some life as we head into Autumn even if we aren’t holding our breath.
The Oreninc Index fell for the third straight week for the week ending September 12, 2013. Total dollars announced fell to $23.12m on 27 deals, three of which were brokered for $9.82m. Average deal size stumbled to $0.86m, its lowest level and the first time it’s fallen below $1m in 36 weeks. After a promising August, summer stagnation seems to be lasting longer than in previous years, bleeding into a time that has traditionally been active in the financing markets.
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.
