GIẢI PHÁP HOÀN THIỆN VIỆC ĐỊNH GIÁ CÔ PHIẾU Áp dụng thực tế cho cổ phiếu REE

B GIÁO D C VÀ ÀO T O I H C M TP H CHÍ MINH NGUY N QU C VI T GI I PHÁP HOÀN THI N VI C NH GIÁ C PHI U Áp d ng th c t cho c phi u REE LU N V N TH C S QU N TR KINH DOANH Tp H Chí Minh - 2007 B GIÁO D C VÀ ÀO T O I H C M TP H CHÍ MINH L I CAM OAN ***** tài “Gi i pháp hoàn thi n vi c đ nh giá c phi u– Áp d ng th c t cho c phi u REE” đ tài tác gi th c hi n Thông qua vi c v n d ng ki n th c h c, đ c trao đ i v i Giáo viên h ng d n, đ ng nghi p, b n bè đ hồn thành đ tài nghiên c u c a Tôi xin cam đoan nh ng l i nêu hồn tồn s th t Tp H Chí Minh, ngày 15 tháng 03 n m 2007 Ng i th c hi n đ tài Nguy n Qu c Vi t i MUÏC LUÏC Trang M cl c i Danh m c hình iv Danh m c b ng v Danh m c vi t t t vi PH N M U .1 C s s c n thi t c a đ tài nghiên c u M c tiêu nghiên c u .2 Ph m vi gi i h n nghiên c u Ph ng pháp nghiên c u PH N 1: C S LÝ THY T C phi u công ty c ph n Giá c phi u nhân t nh h ng 2.1 Các nhân t v mô 2.1.1 S phát tri n t ng tr ng c a n n kinh t 2.1.2 L m phát 2.1.3 Lãi su t 2.1.4 Chính sách thu c a đ i v i thu nh p t ch ng khoán 2.2 Nh ng nhân t tác đ ng bên công ty 2.2.1 Dịng c t c sách c t c 2.2.2 Dòng ti n cho ch s h u (FCFE) 10 2.2.3 Dòng ti n công ty (FCFF) .11 Các lý thuy t c b n v đ nh giá c phi u 11 3.1 Lý thuy t quy c v giá c phi u 11 3.2 Lý thuy t v ni m tin .12 3.3 Lý thuy t k v ng 13 3.4 Lý thuy t v tính ng u nhiên 13 3.5 Phân tích k thu t 14 ii 3.6 Lý thuy t đ u t tài 15 Mơ hình đ nh giá 17 4.1 Mơ hình CAPM .17 4.2 Mơ hình DDM 21 4.2.1 Mô hình định giá thời đoạn 22 4.2.2 Mô hình định giá nhi u th i ño n .22 4.2.3 Mô hình tăng trưởng Gordon .23 4.3 Mơ hình FCFE 24 4.3.1 Khái ni m .24 4.3.2 Công th c đ nh giá .24 4.4 Mơ hình FCFF 24 4.4.1 Khái ni m .24 4.4.2 Công th c đ nh giá .24 4.5 Mơ hình ng d ng h s P/E 25 4.5.1 Khái ni m .25 4.5.2 Công th c đ nh giá .26 PH N 2: NG D NG CÁC MƠ HÌNH PHÂN TÍCH NH GIÁ REE .27 Khái quát công ty REE .27 nh giá c phi u REE .30 2.1 Các ch tiêu tài c b n 30 2.2 cl ng t su t sinh l i k v ng 33 2.3 nh giá d a mơ hình dịng ti n có chi t kh u 37 2.3.1 Mơ hình DDM 37 2.3.2 Mơ hình FCFE 38 2.3.3 Mơ hình FCFF 39 2.4 nh giá d a h s P/E 41 2.5 So sánh mơ hình đ nh giá 42 Phân tích bi n đ ng giá c phi u 42 PH N 3: GI I PHÁP HOÀN THI N VI C Các nhân t nh h NH GIÁ 45 ng đ n vi c đ nh giá REE 45 Gi i pháp hoàn thi n vi c đ nh giá .47 iii 2.1 Su t sinh l i mơ hình CAPM 47 2.2 T c đ t ng tr ng mơ hình DDM 48 2.3 òn b y tài mơ hình FCFE, FCFF 49 2.4 H s P/E 50 PH N K T LU N .53 PH L C TÀI LI U THAM KH O iv DANH MỤC CÁC HÌNH Trang Hình H s ROA, ROE lãi su t vay 33 Hình ng SML c a c phi u REE 36 Hình Phân tích dịng FCFE & FCFF 40 Hình 4: M c đ t ng giá c a REE so v i VN-INDEX 42 Hình 5: Kh i l ng giao d ch c a REE 43 Hình 6: Bi n đ ng giá c phi u REE 43 Hình 7: Su t sinh l i ngày c a c phi u REE .44 v DANH MỤC CÁC BẢNG Trang B ng Tình tr ng chi tr c t c b ng ti n t 2003-2005 & giá c phi u REE 10 B ng Các ch tiêu tài c b n 31 B ng Phân tích kh n ng đ m b o n vay 32 B ng Mơ hình h i qui c phi u REE & VN-Index 34 B ng M c đ t ng quan gi a lo i c phi u ch s VN-Index 35 B ng T su t sinh l i lo i c phi u đ u tiên th tr ng chúng khốn 36 B ng D báo dịng c t c giá REE 37 B ng D báo dòng FCFE giá REE 38 B ng Phân tích dịng ti n FCFE, FCFF t n m 2001-2005 39 B ng 10 D báo dòng FCFE giá REE 40 B ng 11 D báo P/E giá REE 41 B ng 12 Giá REE qua mơ hình .42 vi DANH MỤC CÁC TỪ VIẾT TẮT Từ tắt Tiếng Anh Tiếng Việt TTCK Thị trường chứng khoán TTGD Trung tâm giao dịch CAPM = Capital Asset Pricing Model Mô hình định giá tài sản vốn APM =Arbitrage Pricing Theory Model Mơ hình lý thuy t đ nh giá chênh l ch DDM = Discounted Dividens Model Mô hình chiết khấu cổ tức FCFE = Free Cash Flow To Equity Dòng ti n cho ch s h u FCFF = Free Cash Flow To Firm Dòng ti n công ty EBIT = Earnings Before Interest and Tax Lợi nhuận trước thuế lãi vay EBITDA = Earnings Before Interest and Tax Lợi nhuận trước thuế, lãi vay Depreciation khấu hao P/E = Price Earning Ratio T l th giaù /thu nh p EPS = Earnings Per Share Lợi nhuận cổ phần WACC = Weighted Average Cost of Capital Chi phí sử dụng vốn trọng số ROA = Return on Assets T s sinh l i t ng tài s n ROE = Return on Equity T s sinh l i treân v n ch s h u ROC = Return on Capital T s sinh l i v n đ u t PH N M U C s s c n thi t c a đ tài nghiên c u: Phân tích nhân t ng đ n giá tr c phi u s quan tâm c a nh h nhà đ u t vi c l a ch n xác đ nh m t danh m c đ u t hi u qu , bao hàm s cân nh c đánh đ i gi a r i ro l i nhu n (t su t sinh l i) trình quy t đ nh đ u t vào m t s c phi u niêm y t giao d ch th tr ng ch ng khoán R i ro t su t sinh l i hai y u t có m i quan h vơ m t thi t v i V i m c đ r i ro cho tr c, nhà đ u t bao gi c ng thích đ u t vào n i có m t t su t sinh l i cao h n, c ng nh v i m c t su t sinh l i cho tr c, h s thích m t r i ro th p h n Có th nói r ng, r i ro v i t su t sinh l i y u t quan tâm hàng đ u c a nhà đ u t Khi đó, nh ng v n đ mà nhà đ u t th đ ng ph i xem xét phân tích đánh giá c đ t nh : tình hình tài cơng ty có th c s lành m nh, công ty phát tri n n đ nh, t ng tr t ng b n v ng hay không; r i ro kh n ng sinh l i ng lai s sao… Các v n đ s đ c nhìn nh n phân tích sâu h n d i góc đ lý thuy t đ u t , phân tích tài thơng qua nh ng mơ hình, s li u đ c x lý h p lí lơgích Qua b c tranh tài t ng th c a công ty niêm y t kh c ng nh hi n t i đ báo t c khái quát hóa c s cho nh ng d ng lai v bi n đ ng giá c phi u, s t ng tr c ng nh đo l ng đ ng b n v ng, kh n ng sinh l i c m c đ r i ro c a công ty tài th c hi n vi c phân tích đo l ng nhân t m t công ty (c th Công ty c ph n c n l nh REE), nh ng nhân t có nh h ng l n đ n th giá c phi u thông qua giá tr n i t i (hay giá tr lý thuy t) c a c phi u d a vi c phân tích ng d ng mơ hình lý thuy t đ u t tài làm c s Q trình phân tích đánh giá nh ng nhân t tác đ ng vi c đ nh giá c phi u mơ hình ng d ng, c s thu th p thơng tin đ y đ xác, s giúp cho nhà đ u t có nhìn tồn di n h n, bao quát h n v “n i l c” hay giá tr th c c a m t doanh nghi p, đ ng ngh a v i vi c d báo chi u h ng cho s bi n đ ng c a giá c phi u dài h n M c tiêu nghiên c u: Giá tr c phi u ch u nh h ng c a nhi u nhân t khác bên l n bên ngồi cơng ty hay theo cách phân lo i khác s tác đ ng hàm ch a nhân t v mô (n n kinh t ) vi mô (trong doanh nghi p) Phân tích đánh giá giá tr lý thuy t c a c phi u REE thông qua vi c quan sát s thay đ i c a nhân t v dòng ti n, t su t sinh l i, t l t ng tr ng dài h n h s P/E d a c s mơ hình ng d ng đ nh giá c phi u niêm y t (DDM, FCFE, FCFF & P/E) nh m đ a m t cách th c đ nh giá h p lý giá tr th c c a c phi u Trên c s nh n đ nh s khác bi t gi a giá tr n i t i giá th c t c a c phi u niêm y t c ng nh d báo chi u h Song song vi c ki m đ nh m i t ng thay đ i c a giá c phi u ng quan gi a t su t sinh l i c a c phi u REE (là c phi u niêm y t đ u tiên th tr ng) ch s giá th tr ng (VN- Index) nh m xem xét ý ngh a c a t su t sinh l i k v ng mơ hình CAPM ng d ng mơ hình đ nh giá c phi u niêm y t t i Trung tâm giao d ch ch ng khoán TPHCM V n đ l i c n nh ng gi i pháp đ mơ hình đ nh giá đ c p đ tài nghiên c u có tính kh thi có th th tr ng d ng u ki n ng hi n Ph m vi gi i h n nghiên c u: tài nghiên c u đ c th c hi n d i góc đ m t báo cáo ng d ng không sâu vào chi ti t báo cáo k thu t c a m t nghiên c u Trên c s đó, đ tài phân tích nh ng nhân t ch y u liên quan đ n mơ hình đ nh giá có nh h ng đ n giá tr n i t i c phi u c a công ty REE (là c phi u có th i gian niêm y t giao d ch t i Trung tâm GDCK TPHCM h n n m) C th , phân tích đ nh giá c phi u REE v i h n 1136 phiên giao d ch (tính đ n 30/12/2005) d a nh ng s li u tài kh m t s gi đ nh v d báo t c đ t ng tr ng nh m đánh giá s tác đ ng c a nhân t có liên quan đ n mơ hình đ nh giá c phi u niêm y t th tr ng c ng nh ch d ng l i vi c 10/02/04 09/02/04 06/02/04 05/02/04 04/02/04 03/02/04 02/02/04 30/01/04 29/01/04 28/01/04 27/01/04 16/01/04 15/01/04 14/01/04 13/01/04 12/01/04 09/01/04 08/01/04 07/01/04 06/01/04 05/01/04 31/12/03 30/12/03 29/12/03 26/12/03 25/12/03 24/12/03 23/12/03 22/12/03 19/12/03 18/12/03 17/12/03 16/12/03 15/12/03 12/12/03 11/12/03 10/12/03 09/12/03 08/12/03 05/12/03 04/12/03 03/12/03 02/12/03 01/12/03 28/11/03 27/11/03 26/11/03 25/11/03 24/11/03 212.49 212.70 215.35 217.85 200.03 200.69 213.26 217.70 210.46 200.73 190.88 180.23 176.16 178.72 174.65 173.46 171.44 171.79 170.84 170.78 167.69 166.32 165.82 165.98 166.50 166.57 166.78 166.55 168.50 167.69 170.36 169.72 165.67 162.74 161.71 161.75 162.14 161.14 161.63 163.69 164.11 164.21 164.66 164.75 164.50 161.68 163.55 166.04 163.09 213.00 212.55 213.42 215.33 208.26 199.56 207.14 214.32 210.46 200.80 191.87 183.18 177.59 176.35 175.17 174.13 173.27 171.60 171.17 170.26 169.16 166.94 166.06 165.57 166.03 166.48 166.42 166.47 167.11 167.93 168.69 168.74 166.14 163.61 162.14 161.84 161.74 161.85 161.01 162.47 163.60 164.06 164.49 164.86 163.87 162.92 161.61 165.40 163.31 0.21% -0.41% -0.89% 3.39% 4.36% -3.66% -3.35% 1.83% 4.81% 4.65% 4.74% 3.15% 0.70% 0.67% 0.60% 0.50% 0.97% 0.25% 0.53% 0.65% 1.33% 0.53% 0.30% -0.28% -0.27% 0.04% -0.03% -0.38% -0.49% -0.45% -0.03% 1.56% 1.55% 0.91% 0.19% 0.06% -0.07% 0.52% -0.90% -0.69% -0.28% -0.26% -0.22% 0.60% 0.58% 0.81% -2.29% 1.28% 2.08% 213.00 212.70 215.35 217.85 208.26 200.69 213.26 217.70 210.46 200.80 191.87 183.18 177.59 178.72 175.17 174.13 173.27 171.79 171.17 170.78 169.16 166.94 166.06 165.98 166.50 166.57 166.78 166.55 168.50 167.93 170.36 169.72 166.14 163.61 162.14 161.84 162.14 161.85 161.63 163.69 164.11 164.21 164.66 164.86 164.50 162.92 163.55 166.04 163.31 212.49 212.55 213.42 215.33 200.03 199.56 207.14 214.32 210.46 200.73 190.88 180.23 176.16 176.35 174.65 173.46 171.44 171.60 170.84 170.26 167.69 166.32 165.82 165.57 166.03 166.48 166.42 166.47 167.11 167.69 168.69 168.74 165.67 162.74 161.71 161.75 161.74 161.14 161.01 162.47 163.60 164.06 164.49 164.75 163.87 161.68 161.61 165.40 163.09 212.75 212.63 214.39 216.59 204.15 200.13 210.20 216.01 210.46 200.77 191.38 181.71 176.88 177.54 174.91 173.80 172.36 171.70 171.01 170.52 168.43 166.63 165.94 165.78 166.27 166.53 166.60 166.51 167.81 167.81 169.53 169.23 165.91 163.18 161.93 161.80 161.94 161.50 161.32 163.08 163.86 164.14 164.58 164.81 164.19 162.30 162.58 165.72 163.20 721 720 719 718 717 716 715 714 713 712 711 710 709 708 707 706 705 704 703 702 701 700 699 698 697 696 695 694 693 692 691 690 689 688 687 686 685 684 683 682 681 680 679 678 677 676 675 674 673 22 22 12 22 22 22 20 14 12 11 13 16 14 11 6 2 18 19 13 7 6 10 11 12 10 18 10 14 0 21 16 0 0 2 4 4 2 11 10 11 13 0 5 11 10 3 14 12 0 0 11 6 9 10 6 11 9 10 10 14 10 11 13 14 21/11/03 20/11/03 19/11/03 18/11/03 17/11/03 14/11/03 13/11/03 12/11/03 11/11/03 10/11/03 07/11/03 06/11/03 05/11/03 04/11/03 03/11/03 31/10/03 30/10/03 29/10/03 28/10/03 27/10/03 24/10/03 23/10/03 22/10/03 21/10/03 20/10/03 17/10/03 16/10/03 15/10/03 14/10/03 13/10/03 10/10/03 09/10/03 08/10/03 07/10/03 06/10/03 03/10/03 02/10/03 01/10/03 30/09/03 29/09/03 26/09/03 25/09/03 24/09/03 23/09/03 22/09/03 19/09/03 18/09/03 17/09/03 16/09/03 158.02 153.35 148.54 148.76 158.17 156.03 147.88 141.36 138.71 137.50 136.63 136.12 135.50 135.97 136.64 135.00 133.97 133.27 131.44 131.14 130.91 132.45 133.15 134.06 134.20 134.14 135.41 135.73 135.94 136.52 136.72 137.32 136.71 137.52 137.61 138.94 139.06 139.31 139.22 140.07 141.25 141.80 140.19 139.86 139.85 140.14 140.27 139.95 140.00 159.98 155.31 152.06 150.09 154.67 155.73 149.59 143.79 140.19 138.19 137.33 136.73 135.97 135.70 135.78 136.21 134.10 133.22 132.44 131.44 130.90 131.17 132.72 133.69 134.09 134.46 134.82 135.49 135.61 136.12 136.57 136.95 137.25 138.22 138.50 138.63 138.92 139.19 139.32 139.27 139.93 141.54 139.88 140.00 139.97 139.89 140.26 140.33 140.06 3.01% 2.14% 1.31% -2.96% -0.68% 4.10% 4.03% 2.57% 1.45% 0.63% 0.44% 0.56% 0.20% -0.06% -0.32% 1.57% 0.66% 0.59% 0.76% 0.41% -0.21% -1.17% -0.73% -0.30% -0.28% -0.27% -0.49% -0.09% -0.37% -0.33% -0.28% -0.22% -0.70% -0.20% -0.09% -0.21% -0.19% -0.09% 0.04% -0.47% -1.14% 1.19% -0.09% 0.02% 0.06% -0.26% -0.05% 0.19% -0.09% 159.98 155.31 152.06 150.09 158.17 156.03 149.59 143.79 140.19 138.19 137.33 136.73 135.97 135.97 136.64 136.21 134.10 133.27 132.44 131.44 130.91 132.45 133.15 134.06 134.20 134.46 135.41 135.73 135.94 136.52 136.72 137.32 137.25 138.22 138.50 138.94 139.06 139.31 139.32 140.07 141.25 141.80 140.19 140.00 139.97 140.14 140.27 140.33 140.06 158.02 153.35 148.54 148.76 154.67 155.73 147.88 141.36 138.71 137.50 136.63 136.12 135.50 135.70 135.78 135.00 133.97 133.22 131.44 131.14 130.90 131.17 132.72 133.69 134.09 134.14 134.82 135.49 135.61 136.12 136.57 136.95 136.71 137.52 137.61 138.63 138.92 139.19 139.22 139.27 139.93 141.54 139.88 139.86 139.85 139.89 140.26 139.95 140.00 159.00 154.33 150.30 149.43 156.42 155.88 148.74 142.58 139.45 137.85 136.98 136.43 135.74 135.84 136.21 135.61 134.04 133.25 131.94 131.29 130.91 131.81 132.94 133.88 134.15 134.30 135.12 135.61 135.78 136.32 136.65 137.14 136.98 137.87 138.06 138.79 138.99 139.25 139.27 139.67 140.59 141.67 140.04 139.93 139.91 140.02 140.27 140.14 140.03 672 671 670 669 668 667 666 665 664 663 662 661 660 659 658 657 656 655 654 653 652 651 650 649 648 647 646 645 644 643 642 641 640 639 638 637 636 635 634 633 632 631 630 629 628 627 626 625 624 20 21 10 21 22 17 17 10 10 11 10 16 12 11 6 2 5 2 1 6 3 3 19 0 2 4 10 14 16 7 6 4 6 3 14 5 5 0 3 10 10 12 6 8 5 13 13 10 14 11 13 9 15 12 14 14 12 12 13 12 13 13 13 14 13 11 15/09/03 12/09/03 11/09/03 10/09/03 09/09/03 08/09/03 05/09/03 04/09/03 03/09/03 29/08/03 28/08/03 27/08/03 26/08/03 25/08/03 22/08/03 21/08/03 20/08/03 19/08/03 18/08/03 15/08/03 14/08/03 13/08/03 12/08/03 11/08/03 08/08/03 07/08/03 06/08/03 05/08/03 04/08/03 01/08/03 31/07/03 30/07/03 29/07/03 28/07/03 25/07/03 24/07/03 23/07/03 22/07/03 21/07/03 18/07/03 17/07/03 16/07/03 15/07/03 14/07/03 11/07/03 10/07/03 09/07/03 08/07/03 07/07/03 140.62 140.53 141.40 141.61 141.44 141.80 141.96 142.25 142.51 142.11 142.32 142.82 142.43 142.01 142.56 142.16 142.63 142.90 143.25 143.49 141.93 140.99 141.80 141.26 141.55 142.16 143.17 143.20 144.55 144.99 147.13 147.91 148.69 148.78 149.92 150.07 149.28 149.74 150.12 150.75 150.65 150.76 150.60 151.48 151.66 151.33 152.22 151.84 152.08 140.18 140.91 141.40 141.50 141.73 141.51 141.80 142.05 142.11 142.71 142.10 142.68 142.24 142.26 142.10 142.46 142.25 142.87 143.00 142.90 142.73 141.89 141.90 141.66 140.96 142.12 142.66 143.43 143.89 144.89 146.32 147.27 148.02 148.80 149.29 149.87 149.63 149.20 149.93 150.34 150.27 150.68 150.59 150.81 151.22 151.20 151.10 152.26 152.18 -0.52% -0.35% -0.07% -0.16% 0.16% -0.20% -0.18% -0.04% -0.42% 0.43% -0.41% 0.31% -0.01% 0.11% -0.25% 0.15% -0.43% -0.09% 0.07% 0.12% 0.59% -0.01% 0.17% 0.50% -0.82% -0.38% -0.54% -0.32% -0.69% -0.98% -0.65% -0.51% -0.52% -0.33% -0.39% 0.16% 0.29% -0.49% -0.27% 0.05% -0.27% 0.06% -0.15% -0.27% 0.01% 0.07% -0.76% 0.05% 0.00% 140.62 140.91 141.40 141.61 141.73 141.80 141.96 142.25 142.51 142.71 142.32 142.82 142.43 142.26 142.56 142.46 142.63 142.90 143.25 143.49 142.73 141.89 141.90 141.66 141.55 142.16 143.17 143.43 144.55 144.99 147.13 147.91 148.69 148.80 149.92 150.07 149.63 149.74 150.12 150.75 150.65 150.76 150.60 151.48 151.66 151.33 152.22 152.26 152.18 140.18 140.53 141.40 141.50 141.44 141.51 141.80 142.05 142.11 142.11 142.10 142.68 142.24 142.01 142.10 142.16 142.25 142.87 143.00 142.90 141.93 140.99 141.80 141.26 140.96 142.12 142.66 143.20 143.89 144.89 146.32 147.27 148.02 148.78 149.29 149.87 149.28 149.20 149.93 150.34 150.27 150.68 150.59 150.81 151.22 151.20 151.10 151.84 152.08 140.40 140.72 141.40 141.56 141.59 141.66 141.88 142.15 142.31 142.41 142.21 142.75 142.34 142.14 142.33 142.31 142.44 142.89 143.13 143.20 142.33 141.44 141.85 141.46 141.26 142.14 142.92 143.32 144.22 144.94 146.73 147.59 148.36 148.79 149.61 149.97 149.46 149.47 150.03 150.55 150.46 150.72 150.60 151.15 151.44 151.27 151.66 152.05 152.13 623 622 621 620 619 618 617 616 615 614 613 612 611 610 609 608 607 606 605 604 603 602 601 600 599 598 597 596 595 594 593 592 591 590 589 588 587 586 585 584 583 582 581 580 579 578 577 576 575 5 3 7 10 9 3 5 3 7 3 5 8 10 6 4 4 11 12 10 11 12 12 13 11 8 7 12 7 14 12 11 10 10 8 10 13 10 15 14 12 10 10 8 8 7 10 11 12 11 10 11 11 8 13 11 10 04/07/03 03/07/03 02/07/03 01/07/03 30/06/03 27/06/03 26/06/03 25/06/03 24/06/03 23/06/03 20/06/03 19/06/03 18/06/03 17/06/03 16/06/03 13/06/03 12/06/03 11/06/03 10/06/03 09/06/03 06/06/03 05/06/03 04/06/03 03/06/03 02/06/03 30/05/03 29/05/03 28/05/03 27/05/03 26/05/03 23/05/03 22/05/03 21/05/03 20/05/03 19/05/03 16/05/03 15/05/03 14/05/03 13/05/03 12/05/03 09/05/03 08/05/03 07/05/03 06/05/03 05/05/03 29/04/03 28/04/03 25/04/03 24/04/03 152.15 151.56 154.14 152.29 151.71 152.17 152.40 152.21 151.80 152.24 152.43 151.97 151.62 151.87 151.99 152.59 152.43 152.21 152.20 152.49 151.47 150.79 151.63 151.69 151.45 152.48 152.74 153.04 152.81 153.33 153.32 152.92 154.40 153.90 154.18 155.80 155.67 157.40 158.54 157.89 156.57 155.92 154.82 153.29 152.21 152.54 152.75 152.96 152.98 152.18 151.84 151.68 152.62 152.27 152.00 151.88 152.64 152.01 151.59 152.43 152.02 151.73 151.67 151.97 152.20 152.40 152.25 152.23 152.35 151.82 151.69 151.61 151.60 151.66 152.24 152.32 152.74 152.56 152.78 152.92 153.18 153.36 154.18 154.18 155.80 155.67 157.40 158.54 157.89 156.57 155.92 154.82 153.29 152.21 152.54 152.75 152.96 152.98 0.22% 0.11% -0.62% 0.23% 0.18% 0.08% -0.50% 0.41% 0.28% -0.55% 0.27% 0.19% 0.04% -0.20% -0.15% -0.13% 0.10% 0.01% -0.08% 0.35% 0.09% 0.05% 0.01% -0.04% -0.38% -0.05% -0.27% 0.12% -0.14% -0.09% -0.17% -0.12% -0.53% 0.00% -1.04% 0.08% -1.10% -0.72% 0.41% 0.84% 0.42% 0.71% 1.00% 0.71% -0.22% -0.14% -0.14% -0.01% 0.26% 152.18 151.84 154.14 152.62 152.27 152.17 152.40 152.64 152.01 152.24 152.43 152.02 151.73 151.87 151.99 152.59 152.43 152.25 152.23 152.49 151.82 151.69 151.63 151.69 151.66 152.48 152.74 153.04 152.81 153.33 153.32 153.18 154.40 154.18 154.18 155.80 155.67 157.40 158.54 157.89 156.57 155.92 154.82 153.29 152.21 152.54 152.75 152.96 152.98 152.15 151.56 151.68 152.29 151.71 152.00 151.88 152.21 151.80 151.59 152.43 151.97 151.62 151.67 151.97 152.20 152.40 152.21 152.20 152.35 151.47 150.79 151.61 151.60 151.45 152.24 152.32 152.74 152.56 152.78 152.92 152.92 153.36 153.90 154.18 155.80 155.67 157.40 158.54 157.89 156.57 155.92 154.82 153.29 152.21 152.54 152.75 152.96 152.98 152.17 151.70 152.91 152.46 151.99 152.09 152.14 152.43 151.91 151.92 152.43 152.00 151.68 151.77 151.98 152.40 152.42 152.23 152.22 152.42 151.65 151.24 151.62 151.65 151.56 152.36 152.53 152.89 152.69 153.06 153.12 153.05 153.88 154.04 154.18 155.80 155.67 157.40 158.54 157.89 156.57 155.92 154.82 153.29 152.21 152.54 152.75 152.96 152.98 574 573 572 571 570 569 568 567 566 565 564 563 562 561 560 559 558 557 556 555 554 553 552 551 550 549 548 547 546 545 544 543 542 541 540 539 538 537 536 535 534 533 532 531 530 529 528 527 526 11 5 7 7 3 14 3 6 5 13 13 14 16 14 4 5 5 7 6 8 11 8 10 11 10 10 12 2 8 3 14 11 12 12 10 10 10 11 12 10 11 12 15 15 11 12 14 11 11 10 10 10 11 13 9 6 5 10 11 14 23/04/03 22/04/03 21/04/03 18/04/03 17/04/03 16/04/03 15/04/03 14/04/03 11/04/03 10/04/03 09/04/03 08/04/03 07/04/03 04/04/03 03/04/03 02/04/03 01/04/03 31/03/03 28/03/03 27/03/03 26/03/03 25/03/03 24/03/03 21/03/03 20/03/03 19/03/03 18/03/03 17/03/03 14/03/03 13/03/03 12/03/03 11/03/03 10/03/03 07/03/03 06/03/03 05/03/03 04/03/03 03/03/03 28/02/03 27/02/03 26/02/03 25/02/03 24/02/03 21/02/03 20/02/03 19/02/03 18/02/03 17/02/03 14/02/03 152.58 151.96 151.97 152.17 150.67 148.78 148.69 149.02 149.27 147.66 146.49 147.14 149.39 150.22 149.18 144.93 139.64 145.41 150.53 151.96 152.36 153.07 153.94 155.24 156.14 157.95 157.83 160.70 161.30 161.63 162.11 162.86 163.57 164.02 164.28 164.34 164.91 165.58 164.61 164.69 164.71 165.29 165.48 164.62 165.99 166.31 167.23 168.49 168.73 152.58 151.96 151.97 152.17 150.67 148.78 148.69 149.02 149.27 147.66 146.49 147.14 149.39 150.22 149.18 144.93 139.64 145.41 150.53 151.96 152.36 153.07 153.94 155.24 156.14 157.95 157.83 160.70 161.30 161.63 162.11 162.86 163.57 164.02 164.28 164.34 164.91 165.58 164.61 164.69 164.71 165.29 165.48 164.62 165.99 166.31 167.23 168.49 168.73 0.41% -0.01% -0.13% 1.00% 1.27% 0.06% -0.22% -0.17% 1.09% 0.80% -0.44% -1.51% -0.55% 0.70% 2.93% 3.79% -3.97% -3.40% -0.94% -0.26% -0.46% -0.57% -0.84% -0.58% -1.15% 0.08% -1.79% -0.37% -0.20% -0.30% -0.46% -0.43% -0.27% -0.16% -0.04% -0.35% -0.40% 0.59% -0.05% -0.01% -0.35% -0.11% 0.52% -0.83% -0.19% -0.55% -0.75% -0.14% 0.99% 152.58 151.96 151.97 152.17 150.67 148.78 148.69 149.02 149.27 147.66 146.49 147.14 149.39 150.22 149.18 144.93 139.64 145.41 150.53 151.96 152.36 153.07 153.94 155.24 156.14 157.95 157.83 160.70 161.30 161.63 162.11 162.86 163.57 164.02 164.28 164.34 164.91 165.58 164.61 164.69 164.71 165.29 165.48 164.62 165.99 166.31 167.23 168.49 168.73 152.58 151.96 151.97 152.17 150.67 148.78 148.69 149.02 149.27 147.66 146.49 147.14 149.39 150.22 149.18 144.93 139.64 145.41 150.53 151.96 152.36 153.07 153.94 155.24 156.14 157.95 157.83 160.70 161.30 161.63 162.11 162.86 163.57 164.02 164.28 164.34 164.91 165.58 164.61 164.69 164.71 165.29 165.48 164.62 165.99 166.31 167.23 168.49 168.73 152.58 151.96 151.97 152.17 150.67 148.78 148.69 149.02 149.27 147.66 146.49 147.14 149.39 150.22 149.18 144.93 139.64 145.41 150.53 151.96 152.36 153.07 153.94 155.24 156.14 157.95 157.83 160.70 161.30 161.63 162.11 162.86 163.57 164.02 164.28 164.34 164.91 165.58 164.61 164.69 164.71 165.29 165.48 164.62 165.99 166.31 167.23 168.49 168.73 525 524 523 522 521 520 519 518 517 516 515 514 513 512 511 510 509 508 507 506 505 504 503 502 501 500 499 498 497 496 495 494 493 492 491 490 489 488 487 486 485 484 483 482 481 480 479 478 477 13 10 4 10 2 15 17 4 3 3 2 3 3 7 4 10 2 12 8 2 17 15 11 9 9 16 9 8 7 11 12 11 16 10 13 12 11 11 11 10 3 11 9 10 12 14 10 11 11 10 10 12 11 10 14 11 12 11 14 17 13 12 11 13/02/03 12/02/03 11/02/03 10/02/03 28/01/03 27/01/03 24/01/03 23/01/03 22/01/03 21/01/03 20/01/03 17/01/03 16/01/03 15/01/03 14/01/03 13/01/03 10/01/03 09/01/03 08/01/03 07/01/03 06/01/03 03/01/03 02/01/03 31/12/02 30/12/02 27/12/02 26/12/02 25/12/02 24/12/02 23/12/02 20/12/02 19/12/02 18/12/02 17/12/02 16/12/02 13/12/02 12/12/02 11/12/02 10/12/02 09/12/02 06/12/02 05/12/02 04/12/02 03/12/02 02/12/02 29/11/02 28/11/02 27/11/02 26/11/02 167.07 163.91 167.59 170.94 172.38 172.30 172.66 172.03 170.55 171.36 171.40 173.05 173.11 176.43 177.31 178.03 178.67 178.93 179.79 180.63 181.76 182.39 183.41 183.33 182.65 183.05 183.78 184.14 184.18 184.23 184.94 186.18 185.96 185.37 184.74 184.15 183.69 184.34 184.75 183.62 184.55 186.83 187.21 183.56 179.27 177.87 177.25 176.44 176.50 167.07 163.91 167.59 170.94 172.38 172.30 172.66 172.03 170.55 171.36 171.40 173.05 173.11 176.43 177.31 178.03 178.67 178.93 179.79 180.63 181.76 182.39 183.41 183.33 182.65 183.05 183.78 184.14 184.18 184.23 184.94 186.18 185.96 185.37 184.74 184.15 183.69 184.34 184.75 183.62 184.55 186.83 187.21 183.56 179.27 177.87 177.25 176.44 176.50 1.93% -2.20% -1.96% -0.84% 0.05% -0.21% 0.37% 0.87% -0.47% -0.02% -0.95% -0.03% -1.88% -0.50% -0.40% -0.36% -0.15% -0.48% -0.47% -0.62% -0.35% -0.56% 0.04% 0.37% -0.22% -0.40% -0.20% -0.02% -0.03% -0.38% -0.67% 0.12% 0.32% 0.34% 0.32% 0.25% -0.35% -0.22% 0.62% -0.50% -1.22% -0.20% 1.99% 2.39% 0.79% 0.35% 0.46% -0.03% 0.02% 167.07 163.91 167.59 170.94 172.38 172.30 172.66 172.03 170.55 171.36 171.40 173.05 173.11 176.43 177.31 178.03 178.67 178.93 179.79 180.63 181.76 182.39 183.41 183.33 182.65 183.05 183.78 184.14 184.18 184.23 184.94 186.18 185.96 185.37 184.74 184.15 183.69 184.34 184.75 183.62 184.55 186.83 187.21 183.56 179.27 177.87 177.25 176.44 176.50 167.07 163.91 167.59 170.94 172.38 172.30 172.66 172.03 170.55 171.36 171.40 173.05 173.11 176.43 177.31 178.03 178.67 178.93 179.79 180.63 181.76 182.39 183.41 183.33 182.65 183.05 183.78 184.14 184.18 184.23 184.94 186.18 185.96 185.37 184.74 184.15 183.69 184.34 184.75 183.62 184.55 186.83 187.21 183.56 179.27 177.87 177.25 176.44 176.50 167.07 163.91 167.59 170.94 172.38 172.30 172.66 172.03 170.55 171.36 171.40 173.05 173.11 176.43 177.31 178.03 178.67 178.93 179.79 180.63 181.76 182.39 183.41 183.33 182.65 183.05 183.78 184.14 184.18 184.23 184.94 186.18 185.96 185.37 184.74 184.15 183.69 184.34 184.75 183.62 184.55 186.83 187.21 183.56 179.27 177.87 177.25 176.44 176.50 476 475 474 473 472 471 470 469 468 467 466 465 464 463 462 461 460 459 458 457 456 455 454 453 452 451 450 449 448 447 446 445 444 443 442 441 440 439 438 437 436 435 434 433 432 431 430 429 428 12 12 2 3 3 3 7 4 5 18 19 17 14 13 13 7 10 10 4 7 5 3 11 0 2 8 12 17 14 15 11 11 14 11 10 13 10 11 12 13 10 8 10 11 12 10 10 10 10 10 10 10 11 16 13 25/11/02 22/11/02 21/11/02 20/11/02 19/11/02 18/11/02 15/11/02 14/11/02 13/11/02 12/11/02 11/11/02 08/11/02 07/11/02 06/11/02 05/11/02 04/11/02 01/11/02 31/10/02 30/10/02 29/10/02 28/10/02 25/10/02 24/10/02 23/10/02 22/10/02 21/10/02 18/10/02 17/10/02 16/10/02 15/10/02 14/10/02 11/10/02 10/10/02 09/10/02 08/10/02 07/10/02 04/10/02 03/10/02 02/10/02 01/10/02 30/09/02 27/09/02 26/09/02 25/09/02 24/09/02 23/09/02 20/09/02 19/09/02 18/09/02 176.47 175.24 176.47 176.08 175.54 175.73 175.77 175.42 175.63 175.27 175.19 174.88 174.62 174.84 175.02 176.57 177.35 177.61 177.61 177.92 178.80 178.81 178.94 179.10 179.39 178.66 178.64 179.66 180.13 180.63 180.10 179.33 179.10 178.85 180.02 181.71 182.49 183.40 182.84 182.97 182.13 182.62 183.67 181.66 179.93 182.33 183.83 184.69 185.00 176.47 175.24 176.47 176.08 175.54 175.73 175.77 175.42 175.63 175.27 175.19 174.88 174.62 174.84 175.02 176.57 177.35 177.61 177.61 177.92 178.80 178.81 178.94 179.10 179.39 178.66 178.64 179.66 180.13 180.63 180.10 179.33 179.10 178.85 180.02 181.71 182.49 183.40 182.84 182.97 182.13 182.62 183.67 181.66 179.93 182.33 183.83 184.69 185.00 0.70% -0.70% 0.22% 0.31% -0.11% -0.02% 0.20% -0.12% 0.21% 0.05% 0.18% 0.15% -0.13% -0.10% -0.88% -0.44% -0.15% 0.00% -0.17% -0.49% -0.01% -0.07% -0.09% -0.16% 0.41% 0.01% -0.57% -0.26% -0.28% 0.29% 0.43% 0.13% 0.14% -0.65% -0.93% -0.43% -0.50% 0.31% -0.07% 0.46% -0.27% -0.57% 1.11% 0.96% -1.32% -0.82% -0.47% -0.17% -1.00% 176.47 175.24 176.47 176.08 175.54 175.73 175.77 175.42 175.63 175.27 175.19 174.88 174.62 174.84 175.02 176.57 177.35 177.61 177.61 177.92 178.80 178.81 178.94 179.10 179.39 178.66 178.64 179.66 180.13 180.63 180.10 179.33 179.10 178.85 180.02 181.71 182.49 183.40 182.84 182.97 182.13 182.62 183.67 181.66 179.93 182.33 183.83 184.69 185.00 176.47 175.24 176.47 176.08 175.54 175.73 175.77 175.42 175.63 175.27 175.19 174.88 174.62 174.84 175.02 176.57 177.35 177.61 177.61 177.92 178.80 178.81 178.94 179.10 179.39 178.66 178.64 179.66 180.13 180.63 180.10 179.33 179.10 178.85 180.02 181.71 182.49 183.40 182.84 182.97 182.13 182.62 183.67 181.66 179.93 182.33 183.83 184.69 185.00 176.47 175.24 176.47 176.08 175.54 175.73 175.77 175.42 175.63 175.27 175.19 174.88 174.62 174.84 175.02 176.57 177.35 177.61 177.61 177.92 178.80 178.81 178.94 179.10 179.39 178.66 178.64 179.66 180.13 180.63 180.10 179.33 179.10 178.85 180.02 181.71 182.49 183.40 182.84 182.97 182.13 182.62 183.67 181.66 179.93 182.33 183.83 184.69 185.00 427 426 425 424 423 422 421 420 419 418 417 416 415 414 413 412 411 410 409 408 407 406 405 404 403 402 401 400 399 398 397 396 395 394 393 392 391 390 389 388 387 386 385 384 383 382 381 380 379 6 3 4 7 3 8 5 4 15 11 2 2 4 10 4 4 7 6 8 5 3 11 4 12 11 14 13 12 14 12 10 10 8 6 12 10 11 13 12 12 10 14 10 10 11 13 10 12 10 5 10 10 17/09/02 16/09/02 13/09/02 12/09/02 11/09/02 10/09/02 09/09/02 06/09/02 05/09/02 04/09/02 03/09/02 30/08/02 29/08/02 28/08/02 27/08/02 26/08/02 23/08/02 22/08/02 21/08/02 20/08/02 19/08/02 16/08/02 15/08/02 14/08/02 13/08/02 12/08/02 09/08/02 08/08/02 07/08/02 06/08/02 05/08/02 02/08/02 01/08/02 31/07/02 30/07/02 29/07/02 26/07/02 25/07/02 24/07/02 23/07/02 22/07/02 19/07/02 18/07/02 17/07/02 16/07/02 15/07/02 12/07/02 11/07/02 10/07/02 186.87 188.66 188.72 189.14 189.40 189.86 190.21 190.45 190.54 190.59 191.43 191.66 191.28 190.54 189.32 189.97 190.21 190.95 190.90 190.96 192.67 191.67 189.55 188.73 189.78 191.53 192.49 193.39 194.06 194.34 193.67 195.06 197.12 197.57 196.94 195.16 195.79 194.49 197.42 196.85 193.36 191.25 192.42 194.30 196.85 197.37 198.17 197.25 197.27 186.87 188.66 188.72 189.14 189.40 189.86 190.21 190.45 190.54 190.59 191.43 191.66 191.28 190.54 189.32 189.97 190.21 190.95 190.90 190.96 192.67 191.67 189.55 188.73 189.78 191.53 192.49 193.39 194.06 194.34 193.67 195.06 197.12 197.57 196.94 195.16 195.79 194.49 197.42 196.85 193.36 191.25 192.42 194.30 196.85 197.37 198.17 197.25 197.27 -0.95% -0.03% -0.22% -0.14% -0.24% -0.18% -0.13% -0.05% -0.03% -0.44% -0.12% 0.20% 0.39% 0.64% -0.34% -0.13% -0.39% 0.03% -0.03% -0.89% 0.52% 1.12% 0.43% -0.55% -0.91% -0.50% -0.47% -0.35% -0.14% 0.35% -0.71% -1.05% -0.23% 0.32% 0.91% -0.32% 0.67% -1.48% 0.29% 1.80% 1.10% -0.61% -0.97% -1.30% -0.26% -0.40% 0.47% -0.01% -0.87% 186.87 188.66 188.72 189.14 189.40 189.86 190.21 190.45 190.54 190.59 191.43 191.66 191.28 190.54 189.32 189.97 190.21 190.95 190.90 190.96 192.67 191.67 189.55 188.73 189.78 191.53 192.49 193.39 194.06 194.34 193.67 195.06 197.12 197.57 196.94 195.16 195.79 194.49 197.42 196.85 193.36 191.25 192.42 194.30 196.85 197.37 198.17 197.25 197.27 186.87 188.66 188.72 189.14 189.40 189.86 190.21 190.45 190.54 190.59 191.43 191.66 191.28 190.54 189.32 189.97 190.21 190.95 190.90 190.96 192.67 191.67 189.55 188.73 189.78 191.53 192.49 193.39 194.06 194.34 193.67 195.06 197.12 197.57 196.94 195.16 195.79 194.49 197.42 196.85 193.36 191.25 192.42 194.30 196.85 197.37 198.17 197.25 197.27 186.87 188.66 188.72 189.14 189.40 189.86 190.21 190.45 190.54 190.59 191.43 191.66 191.28 190.54 189.32 189.97 190.21 190.95 190.90 190.96 192.67 191.67 189.55 188.73 189.78 191.53 192.49 193.39 194.06 194.34 193.67 195.06 197.12 197.57 196.94 195.16 195.79 194.49 197.42 196.85 193.36 191.25 192.42 194.30 196.85 197.37 198.17 197.25 197.27 378 377 376 375 374 373 372 371 370 369 368 367 366 365 364 363 362 361 360 359 358 357 356 355 354 353 352 351 350 349 348 347 346 345 344 343 342 341 340 339 338 337 336 335 334 333 332 331 330 1 2 10 8 10 14 1 4 16 10 11 16 10 1 2 4 10 10 1 11 7 9 10 5 14 10 15 14 9 10 9 13 11 12 13 10 12 7 7 10 10 10 3 10 09/07/02 08/07/02 05/07/02 04/07/02 03/07/02 02/07/02 01/07/02 28/06/02 27/06/02 26/06/02 25/06/02 24/06/02 21/06/02 20/06/02 19/06/02 18/06/02 17/06/02 14/06/02 13/06/02 12/06/02 11/06/02 10/06/02 07/06/02 06/06/02 05/06/02 04/06/02 03/06/02 31/05/02 30/05/02 29/05/02 28/05/02 27/05/02 24/05/02 23/05/02 22/05/02 21/05/02 20/05/02 17/05/02 16/05/02 15/05/02 14/05/02 13/05/02 10/05/02 09/05/02 08/05/02 07/05/02 06/05/02 03/05/02 02/05/02 199.00 200.19 200.50 199.70 199.61 199.94 200.26 202.06 199.61 200.50 202.40 200.50 196.89 193.32 192.13 195.59 197.77 200.75 202.35 203.79 203.53 204.88 203.06 205.07 205.48 205.68 207.81 207.12 203.77 203.65 205.02 206.30 208.04 208.93 209.66 208.93 208.14 209.79 209.08 209.82 209.88 209.62 211.88 208.85 207.05 210.43 214.23 212.95 209.52 199.00 200.19 200.50 199.70 199.61 199.94 200.26 202.06 199.61 200.50 202.40 200.50 196.89 193.32 192.13 195.59 197.77 200.75 202.35 203.79 203.53 204.88 203.06 205.07 205.48 205.68 207.81 207.12 203.77 203.65 205.02 206.30 208.04 208.93 209.66 208.93 208.14 209.79 209.08 209.82 209.88 209.62 211.88 208.85 207.05 210.43 214.23 212.95 209.52 -0.59% -0.15% 0.40% 0.05% -0.17% -0.16% -0.89% 1.23% -0.44% -0.94% 0.95% 1.83% 1.85% 0.62% -1.77% -1.10% -1.48% -0.79% -0.71% 0.13% -0.66% 0.90% -0.98% -0.20% -0.10% -1.02% 0.33% 1.64% 0.06% -0.67% -0.62% -0.84% -0.43% -0.35% 0.35% 0.38% -0.79% 0.34% -0.35% -0.03% 0.12% -1.07% 1.45% 0.87% -1.61% -1.77% 0.60% 1.64% 0.50% 199.00 200.19 200.50 199.70 199.61 199.94 200.26 202.06 199.61 200.50 202.40 200.50 196.89 193.32 192.13 195.59 197.77 200.75 202.35 203.79 203.53 204.88 203.06 205.07 205.48 205.68 207.81 207.12 203.77 203.65 205.02 206.30 208.04 208.93 209.66 208.93 208.14 209.79 209.08 209.82 209.88 209.62 211.88 208.85 207.05 210.43 214.23 212.95 209.52 199.00 200.19 200.50 199.70 199.61 199.94 200.26 202.06 199.61 200.50 202.40 200.50 196.89 193.32 192.13 195.59 197.77 200.75 202.35 203.79 203.53 204.88 203.06 205.07 205.48 205.68 207.81 207.12 203.77 203.65 205.02 206.30 208.04 208.93 209.66 208.93 208.14 209.79 209.08 209.82 209.88 209.62 211.88 208.85 207.05 210.43 214.23 212.95 209.52 199.00 200.19 200.50 199.70 199.61 199.94 200.26 202.06 199.61 200.50 202.40 200.50 196.89 193.32 192.13 195.59 197.77 200.75 202.35 203.79 203.53 204.88 203.06 205.07 205.48 205.68 207.81 207.12 203.77 203.65 205.02 206.30 208.04 208.93 209.66 208.93 208.14 209.79 209.08 209.82 209.88 209.62 211.88 208.85 207.05 210.43 214.23 212.95 209.52 329 328 327 326 325 324 323 322 321 320 319 318 317 316 315 314 313 312 311 310 309 308 307 306 305 304 303 302 301 300 299 298 297 296 295 294 293 292 291 290 289 288 287 286 285 284 283 282 281 2 3 13 16 16 0 2 16 6 12 0 14 11 10 6 10 0 10 14 13 14 13 11 10 6 14 6 12 14 15 10 6 1 3 5 7 7 8 11 11 7 10 6 11 26/04/02 25/04/02 24/04/02 23/04/02 22/04/02 19/04/02 18/04/02 17/04/02 16/04/02 15/04/02 12/04/02 11/04/02 10/04/02 09/04/02 08/04/02 05/04/02 04/04/02 03/04/02 02/04/02 01/04/02 29/03/02 28/03/02 27/03/02 26/03/02 25/03/02 22/03/02 21/03/02 20/03/02 19/03/02 18/03/02 15/03/02 14/03/02 13/03/02 12/03/02 11/03/02 08/03/02 07/03/02 06/03/02 05/03/02 04/03/02 01/03/02 27/02/02 25/02/02 22/02/02 20/02/02 18/02/02 08/02/02 06/02/02 04/02/02 208.48 207.06 205.65 202.81 201.14 201.43 199.31 197.12 198.44 200.40 199.69 200.36 200.85 200.48 198.52 198.77 201.38 202.16 203.22 203.14 200.15 197.89 195.11 191.97 188.71 187.67 189.26 189.05 187.06 190.30 192.39 188.97 185.66 182.92 180.73 181.20 183.20 185.74 188.22 190.98 193.59 191.10 193.79 196.58 199.52 202.89 205.20 205.37 203.77 208.48 207.06 205.65 202.81 201.14 201.43 199.31 197.12 198.44 200.40 199.69 200.36 200.85 200.48 198.52 198.77 201.38 202.16 203.22 203.14 200.15 197.89 195.11 191.97 188.71 187.67 189.26 189.05 187.06 190.30 192.39 188.97 185.66 182.92 180.73 181.20 183.20 185.74 188.22 190.98 193.59 191.10 193.79 196.58 199.52 202.89 205.20 205.37 203.77 0.69% 0.69% 1.40% 0.83% -0.14% 1.06% 1.11% -0.67% -0.98% 0.36% -0.33% -0.24% 0.18% 0.99% -0.13% -1.30% -0.39% -0.52% 0.04% 1.49% 1.14% 1.42% 1.64% 1.73% 0.55% -0.84% 0.11% 1.06% -1.70% -1.09% 1.81% 1.78% 1.50% 1.21% -0.26% -1.09% -1.37% -1.32% -1.45% -1.35% 1.30% -1.39% -1.42% -1.47% -1.66% -1.13% -0.08% 0.79% -0.35% 208.48 207.06 205.65 202.81 201.14 201.43 199.31 197.12 198.44 200.40 199.69 200.36 200.85 200.48 198.52 198.77 201.38 202.16 203.22 203.14 200.15 197.89 195.11 191.97 188.71 187.67 189.26 189.05 187.06 190.30 192.39 188.97 185.66 182.92 180.73 181.20 183.20 185.74 188.22 190.98 193.59 191.10 193.79 196.58 199.52 202.89 205.20 205.37 203.77 208.48 207.06 205.65 202.81 201.14 201.43 199.31 197.12 198.44 200.40 199.69 200.36 200.85 200.48 198.52 198.77 201.38 202.16 203.22 203.14 200.15 197.89 195.11 191.97 188.71 187.67 189.26 189.05 187.06 190.30 192.39 188.97 185.66 182.92 180.73 181.20 183.20 185.74 188.22 190.98 193.59 191.10 193.79 196.58 199.52 202.89 205.20 205.37 203.77 208.48 207.06 205.65 202.81 201.14 201.43 199.31 197.12 198.44 200.40 199.69 200.36 200.85 200.48 198.52 198.77 201.38 202.16 203.22 203.14 200.15 197.89 195.11 191.97 188.71 187.67 189.26 189.05 187.06 190.30 192.39 188.97 185.66 182.92 180.73 181.20 183.20 185.74 188.22 190.98 193.59 191.10 193.79 196.58 199.52 202.89 205.20 205.37 203.77 280 279 278 277 276 275 274 273 272 271 270 269 268 267 266 265 264 263 262 261 260 259 258 257 256 255 254 253 252 251 250 249 248 247 246 245 244 243 242 241 240 239 238 237 236 235 234 233 232 11 10 10 10 2 10 11 11 4 11 12 10 1 0 0 1 1 11 6 10 5 1 6 10 0 7 9 10 6 2 2 6 3 0 2 2 1 4 0 5 01/02/02 30/01/02 28/01/02 25/01/02 23/01/02 21/01/02 18/01/02 16/01/02 14/01/02 11/01/02 09/01/02 07/01/02 04/01/02 02/01/02 31/12/01 28/12/01 26/12/01 24/12/01 21/12/01 19/12/01 17/12/01 14/12/01 12/12/01 10/12/01 07/12/01 05/12/01 03/12/01 30/11/01 28/11/01 26/11/01 23/11/01 21/11/01 19/11/01 16/11/01 14/11/01 12/11/01 09/11/01 07/11/01 05/11/01 02/11/01 31/10/01 29/10/01 26/10/01 24/10/01 22/10/01 19/10/01 17/10/01 15/10/01 12/10/01 204.48 207.55 210.76 209.02 206.01 203.27 206.79 210.68 214.16 219.22 222.90 225.95 227.79 231.70 235.40 239.27 242.75 248.05 250.95 247.26 259.08 263.04 267.83 271.62 275.49 279.15 283.02 288.52 293.03 296.90 292.17 296.11 301.09 295.97 290.51 285.06 280.03 274.89 269.77 265.03 260.29 255.55 250.85 246.41 242.01 237.62 233.48 229.35 225.27 204.48 207.55 210.76 209.02 206.01 203.27 206.79 210.68 214.16 219.22 222.90 225.95 227.79 231.70 235.40 239.27 242.75 248.05 250.95 247.26 259.08 263.04 267.83 271.62 275.49 279.15 283.02 288.52 293.03 296.90 292.17 296.11 301.09 295.97 290.51 285.06 280.03 274.89 269.77 265.03 260.29 255.55 250.85 246.41 242.01 237.62 233.48 229.35 225.27 -1.48% -1.52% 0.83% 1.46% 1.35% -1.70% -1.85% -1.62% -2.31% -1.65% -1.35% -0.81% -1.69% -1.57% -1.62% -1.43% -2.14% -1.16% 1.49% -4.56% -1.51% -1.79% -1.40% -1.40% -1.31% -1.37% -1.91% -1.54% -1.30% 1.62% -1.33% -1.65% 1.73% 1.88% 1.91% 1.80% 1.87% 1.90% 1.79% 1.82% 1.85% 1.87% 1.80% 1.82% 1.85% 1.77% 1.80% 1.81% 1.85% 204.48 207.55 210.76 209.02 206.01 203.27 206.79 210.68 214.16 219.22 222.90 225.95 227.79 231.70 235.40 239.27 242.75 248.05 250.95 247.26 259.08 263.04 267.83 271.62 275.49 279.15 283.02 288.52 293.03 296.90 292.17 296.11 301.09 295.97 290.51 285.06 280.03 274.89 269.77 265.03 260.29 255.55 250.85 246.41 242.01 237.62 233.48 229.35 225.27 204.48 207.55 210.76 209.02 206.01 203.27 206.79 210.68 214.16 219.22 222.90 225.95 227.79 231.70 235.40 239.27 242.75 248.05 250.95 247.26 259.08 263.04 267.83 271.62 275.49 279.15 283.02 288.52 293.03 296.90 292.17 296.11 301.09 295.97 290.51 285.06 280.03 274.89 269.77 265.03 260.29 255.55 250.85 246.41 242.01 237.62 233.48 229.35 225.27 204.48 207.55 210.76 209.02 206.01 203.27 206.79 210.68 214.16 219.22 222.90 225.95 227.79 231.70 235.40 239.27 242.75 248.05 250.95 247.26 259.08 263.04 267.83 271.62 275.49 279.15 283.02 288.52 293.03 296.90 292.17 296.11 301.09 295.97 290.51 285.06 280.03 274.89 269.77 265.03 260.29 255.55 250.85 246.41 242.01 237.62 233.48 229.35 225.27 231 230 229 228 227 226 225 224 223 222 221 220 219 218 217 216 215 214 213 212 211 210 209 208 207 206 205 204 203 202 201 200 199 198 197 196 195 194 193 192 191 190 189 188 187 186 185 184 183 11 0 0 0 0 1 1 6 7 7 7 7 7 6 6 3 11 8 9 8 5 5 0 0 0 0 0 0 0 0 1 3 1 2 0 0 0 0 0 0 0 1 0 10/10/01 08/10/01 05/10/01 03/10/01 01/10/01 28/09/01 26/09/01 24/09/01 21/09/01 19/09/01 17/09/01 14/09/01 12/09/01 10/09/01 07/09/01 05/09/01 31/08/01 29/08/01 27/08/01 24/08/01 22/08/01 20/08/01 17/08/01 15/08/01 13/08/01 10/08/01 08/08/01 06/08/01 03/08/01 01/08/01 30/07/01 27/07/01 25/07/01 23/07/01 20/07/01 18/07/01 16/07/01 13/07/01 11/07/01 09/07/01 06/07/01 04/07/01 02/07/01 29/06/01 27/06/01 25/06/01 22/06/01 20/06/01 18/06/01 221.18 217.10 203.12 214.29 229.06 244.46 249.72 259.75 272.03 273.37 266.09 274.64 284.68 286.55 307.76 296.43 277.40 261.35 279.65 300.03 320.98 302.25 321.83 344.31 368.34 394.18 373.63 350.69 371.76 395.63 422.46 445.37 450.87 438.33 466.67 438.12 411.43 416.46 436.13 470.83 502.93 512.80 491.17 500.28 531.93 571.04 563.00 553.56 518.62 221.18 217.10 203.12 214.29 229.06 244.46 249.72 259.75 272.03 273.37 266.09 274.64 284.68 286.55 307.76 296.43 277.40 261.35 279.65 300.03 320.98 302.25 321.83 344.31 368.34 394.18 373.63 350.69 371.76 395.63 422.46 445.37 450.87 438.33 466.67 438.12 411.43 416.46 436.13 470.83 502.93 512.80 491.17 500.28 531.93 571.04 563.00 553.56 518.62 1.88% 6.88% -5.21% -6.45% -6.30% -2.11% -3.86% -4.51% -0.49% 2.74% -3.11% -3.53% -0.65% -6.89% 3.82% 6.86% 6.14% -6.54% -6.79% -6.53% 6.20% -6.08% -6.53% -6.52% -6.56% 5.50% 6.54% -5.67% -6.03% -6.35% -5.14% -1.22% 2.86% -6.07% 6.52% 6.49% -1.21% -4.51% -7.37% -6.38% -1.92% 4.40% -1.82% -5.95% -6.85% 1.43% 1.71% 6.74% 6.64% 221.18 217.10 203.12 214.29 229.06 244.46 249.72 259.75 272.03 273.37 266.09 274.64 284.68 286.55 307.76 296.43 277.40 261.35 279.65 300.03 320.98 302.25 321.83 344.31 368.34 394.18 373.63 350.69 371.76 395.63 422.46 445.37 450.87 438.33 466.67 438.12 411.43 416.46 436.13 470.83 502.93 512.80 491.17 500.28 531.93 571.04 563.00 553.56 518.62 221.18 217.10 203.12 214.29 229.06 244.46 249.72 259.75 272.03 273.37 266.09 274.64 284.68 286.55 307.76 296.43 277.40 261.35 279.65 300.03 320.98 302.25 321.83 344.31 368.34 394.18 373.63 350.69 371.76 395.63 422.46 445.37 450.87 438.33 466.67 438.12 411.43 416.46 436.13 470.83 502.93 512.80 491.17 500.28 531.93 571.04 563.00 553.56 518.62 221.18 217.10 203.12 214.29 229.06 244.46 249.72 259.75 272.03 273.37 266.09 274.64 284.68 286.55 307.76 296.43 277.40 261.35 279.65 300.03 320.98 302.25 321.83 344.31 368.34 394.18 373.63 350.69 371.76 395.63 422.46 445.37 450.87 438.33 466.67 438.12 411.43 416.46 436.13 470.83 502.93 512.80 491.17 500.28 531.93 571.04 563.00 553.56 518.62 182 181 180 179 178 177 176 175 174 173 172 171 170 169 168 167 166 165 164 163 162 161 160 159 158 157 156 155 154 153 152 151 150 149 148 147 146 145 144 143 142 141 140 139 138 137 136 135 134 6 0 0 0 0 0 1 1 6 0 1 5 0 5 5 2 4 0 5 6 0 5 0 4 2 2 0 0 1 3 2 1 0 1 1 0 0 1 0 1 2 0 0 15/06/01 13/06/01 11/06/01 08/06/01 06/06/01 04/06/01 01/06/01 30/05/01 28/05/01 25/05/01 23/05/01 21/05/01 18/05/01 16/05/01 14/05/01 11/05/01 09/05/01 07/05/01 04/05/01 02/05/01 27/04/01 25/04/01 23/04/01 20/04/01 18/04/01 16/04/01 13/04/01 11/04/01 09/04/01 06/04/01 04/04/01 02/04/01 30/03/01 28/03/01 26/03/01 23/03/01 21/03/01 19/03/01 16/03/01 14/03/01 12/03/01 09/03/01 07/03/01 05/03/01 02/03/01 28/02/01 26/02/01 23/02/01 21/02/01 486.34 456.18 428.02 426.58 424.56 417.79 411.03 404.26 397.50 390.88 384.16 377.43 370.90 364.27 357.65 351.06 344.47 338.35 332.00 327.13 321.07 315.27 313.74 317.76 311.96 306.16 300.36 295.09 289.82 284.69 279.56 274.43 269.30 264.70 260.11 259.60 261.11 260.29 258.52 257.70 255.99 252.61 248.05 250.73 253.64 252.40 255.61 251.22 246.75 486.34 456.18 428.02 426.58 424.56 417.79 411.03 404.26 397.50 390.88 384.16 377.43 370.90 364.27 357.65 351.06 344.47 338.35 332.00 327.13 321.07 315.27 313.74 317.76 311.96 306.16 300.36 295.09 289.82 284.69 279.56 274.43 269.30 264.70 260.11 259.60 261.11 260.29 258.52 257.70 255.99 252.61 248.05 250.73 253.64 252.40 255.61 251.22 246.75 6.61% 6.58% 0.34% 0.48% 1.62% 1.64% 1.67% 1.70% 1.69% 1.75% 1.78% 1.76% 1.82% 1.85% 1.88% 1.91% 1.81% 1.91% 1.49% 1.89% 1.84% 0.49% -1.27% 1.86% 1.89% 1.93% 1.79% 1.82% 1.80% 1.84% 1.87% 1.90% 1.74% 1.76% 0.20% -0.58% 0.32% 0.68% 0.32% 0.67% 1.34% 1.84% -1.07% -1.15% 0.49% -1.26% 1.75% 1.81% 0.31% 486.34 456.18 428.02 426.58 424.56 417.79 411.03 404.26 397.50 390.88 384.16 377.43 370.90 364.27 357.65 351.06 344.47 338.35 332.00 327.13 321.07 315.27 313.74 317.76 311.96 306.16 300.36 295.09 289.82 284.69 279.56 274.43 269.30 264.70 260.11 259.60 261.11 260.29 258.52 257.70 255.99 252.61 248.05 250.73 253.64 252.40 255.61 251.22 246.75 486.34 456.18 428.02 426.58 424.56 417.79 411.03 404.26 397.50 390.88 384.16 377.43 370.90 364.27 357.65 351.06 344.47 338.35 332.00 327.13 321.07 315.27 313.74 317.76 311.96 306.16 300.36 295.09 289.82 284.69 279.56 274.43 269.30 264.70 260.11 259.60 261.11 260.29 258.52 257.70 255.99 252.61 248.05 250.73 253.64 252.40 255.61 251.22 246.75 486.34 456.18 428.02 426.58 424.56 417.79 411.03 404.26 397.50 390.88 384.16 377.43 370.90 364.27 357.65 351.06 344.47 338.35 332.00 327.13 321.07 315.27 313.74 317.76 311.96 306.16 300.36 295.09 289.82 284.69 279.56 274.43 269.30 264.70 260.11 259.60 261.11 260.29 258.52 257.70 255.99 252.61 248.05 250.73 253.64 252.40 255.61 251.22 246.75 133 132 131 130 129 128 127 126 125 124 123 122 121 120 119 118 117 116 115 114 113 112 111 110 109 108 107 106 105 104 103 102 101 100 99 98 97 96 95 94 93 92 91 90 89 88 87 86 85 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 3 4 5 3 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0 19/02/01 16/02/01 14/02/01 12/02/01 09/02/01 07/02/01 05/02/01 02/02/01 31/01/01 29/01/01 19/01/01 17/01/01 15/01/01 12/01/01 10/01/01 08/01/01 05/01/01 03/01/01 29/12/00 27/12/00 25/12/00 22/12/00 20/12/00 18/12/00 15/12/00 13/12/00 11/12/00 08/12/00 06/12/00 04/12/00 01/12/00 29/11/00 27/11/00 24/11/00 22/11/00 20/11/00 17/11/00 15/11/00 13/11/00 10/11/00 08/11/00 06/11/00 03/11/00 01/11/00 30/10/00 27/10/00 25/10/00 23/10/00 20/10/00 245.99 248.98 252.21 256.18 260.15 259.93 254.96 250.23 245.80 241.36 236.97 232.68 228.35 225.67 222.15 218.12 214.32 210.56 206.83 203.09 202.32 198.58 194.85 191.11 187.62 184.48 189.94 181.26 178.13 175.00 171.87 168.73 165.60 166.17 165.52 165.70 162.36 159.60 156.84 154.08 151.32 148.57 145.83 143.33 140.84 139.57 137.08 136.55 135.04 245.99 248.98 252.21 256.18 260.15 259.93 254.96 250.23 245.80 241.36 236.97 232.68 228.35 225.67 222.15 218.12 214.32 210.56 206.83 203.09 202.32 198.58 194.85 191.11 187.62 184.48 189.94 181.26 178.13 175.00 171.87 168.73 165.60 166.17 165.52 165.70 162.36 159.60 156.84 154.08 151.32 148.57 145.83 143.33 140.84 139.57 137.08 136.55 135.04 -1.20% -1.28% -1.55% -1.53% 0.08% 1.95% 1.89% 1.80% 1.84% 1.85% 1.84% 1.90% 1.19% 1.58% 1.85% 1.77% 1.79% 1.80% 1.84% 0.38% 1.88% 1.91% 1.96% 1.86% 1.70% -2.87% 4.79% 1.76% 1.79% 1.82% 1.86% 1.89% -0.34% 0.39% -0.11% 2.06% 1.73% 1.76% 1.79% 1.82% 1.85% 1.88% 1.74% 1.77% 0.91% 1.82% 0.39% 1.12% 1.65% 245.99 248.98 252.21 256.18 260.15 259.93 254.96 250.23 245.80 241.36 236.97 232.68 228.35 225.67 222.15 218.12 214.32 210.56 206.83 203.09 202.32 198.58 194.85 191.11 187.62 184.48 189.94 181.26 178.13 175.00 171.87 168.73 165.60 166.17 165.52 165.70 162.36 159.60 156.84 154.08 151.32 148.57 145.83 143.33 140.84 139.57 137.08 136.55 135.04 245.99 248.98 252.21 256.18 260.15 259.93 254.96 250.23 245.80 241.36 236.97 232.68 228.35 225.67 222.15 218.12 214.32 210.56 206.83 203.09 202.32 198.58 194.85 191.11 187.62 184.48 189.94 181.26 178.13 175.00 171.87 168.73 165.60 166.17 165.52 165.70 162.36 159.60 156.84 154.08 151.32 148.57 145.83 143.33 140.84 139.57 137.08 136.55 135.04 245.99 248.98 252.21 256.18 260.15 259.93 254.96 250.23 245.80 241.36 236.97 232.68 228.35 225.67 222.15 218.12 214.32 210.56 206.83 203.09 202.32 198.58 194.85 191.11 187.62 184.48 189.94 181.26 178.13 175.00 171.87 168.73 165.60 166.17 165.52 165.70 162.36 159.60 156.84 154.08 151.32 148.57 145.83 143.33 140.84 139.57 137.08 136.55 135.04 84 83 82 81 80 79 78 77 76 75 74 73 72 71 70 69 68 67 66 65 64 63 62 61 60 59 58 57 56 55 54 53 52 51 50 49 48 47 46 45 44 43 42 41 40 39 38 37 36 3 2 5 5 5 5 5 5 5 5 4 4 4 3 4 4 4 4 4 3 2 3 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18/10/00 16/10/00 13/10/00 11/10/00 09/10/00 06/10/00 04/10/00 02/10/00 29/09/00 27/09/00 25/09/00 22/09/00 20/09/00 18/09/00 15/09/00 13/09/00 11/09/00 08/09/00 06/09/00 01/09/00 30/08/00 28/08/00 25/08/00 23/08/00 21/08/00 18/08/00 16/08/00 14/08/00 11/08/00 09/08/00 07/08/00 04/08/00 02/08/00 31/07/00 28/07/00 132.85 130.71 128.57 126.45 124.33 122.21 121.14 120.92 120.71 119.69 118.98 118.76 118.21 118.19 118.04 116.08 114.11 112.39 112.51 113.37 115.15 117.00 118.84 118.96 117.24 115.52 113.80 112.08 110.36 108.64 106.92 105.20 103.38 101.55 100.00 132.85 130.71 128.57 126.45 124.33 122.21 121.14 120.92 120.71 119.69 118.98 118.76 118.21 118.19 118.04 116.08 114.11 112.39 112.51 113.37 115.15 117.00 118.84 118.96 117.24 115.52 113.80 112.08 110.36 108.64 106.92 105.20 103.38 101.55 100.00 1.64% 1.66% 1.68% 1.71% 1.73% 0.88% 0.18% 0.17% 0.85% 0.60% 0.19% 0.47% 0.02% 0.13% 1.69% 1.73% 1.53% -0.11% -0.76% -1.55% -1.58% -1.55% -0.10% 1.47% 1.49% 1.51% 1.53% 1.56% 1.58% 1.61% 1.63% 1.76% 1.80% 1.55% 0.00% 132.85 130.71 128.57 126.45 124.33 122.21 121.14 120.92 120.71 119.69 118.98 118.76 118.21 118.19 118.04 116.08 114.11 112.39 112.51 113.37 115.15 117.00 118.84 118.96 117.24 115.52 113.80 112.08 110.36 108.64 106.92 105.20 103.38 101.55 100.00 132.85 130.71 128.57 126.45 124.33 122.21 121.14 120.92 120.71 119.69 118.98 118.76 118.21 118.19 118.04 116.08 114.11 112.39 112.51 113.37 115.15 117.00 118.84 118.96 117.24 115.52 113.80 112.08 110.36 108.64 106.92 105.20 103.38 101.55 100.00 132.85 130.71 128.57 126.45 124.33 122.21 121.14 120.92 120.71 119.69 118.98 118.76 118.21 118.19 118.04 116.08 114.11 112.39 112.51 113.37 115.15 117.00 118.84 118.96 117.24 115.52 113.80 112.08 110.36 108.64 106.92 105.20 103.38 101.55 100.00 35 34 33 32 31 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 4 4 4 2 2 2 3 1 3 3 3 3 2 0 0 0 0 0 0 1 0 1 2 0 0 0 0 0 0 0 0 2 2 0 0 0 1 1 1 1 1 1 0