. averagepercentage spread from June 1, 1999, to July 31, 1999, from June 1, 2000,to August 31, 2000, respectively, and the median daily share turnover from May 1, 1999, to July 31, 1999, and from June 1,. average percentage spreads from June 1, 1999, to July 31, 1999, and from June 1, 2000, to August 31,2000. Turnover, share price, and market value data have been obtained from Datastream. Share turnover. median of daily volume in Euro dividedby daily market capitalization in Euro from May 1, 1999, to July 31, 1999, and from June 1, 2000, to August31, 2000, respectively. The market capitalization...