Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ share trading activity increases in February, value falls

NZ share trading activity increases in February, value falls

March 5 (BusinessDesk) – The level of activity on the New Zealand stock exchange grew for an 18th month in February, though the value of transactions was lower than the same month last year.

The total number of trades rose 15 percent to 93,742 in February from the same month a year earlier, with a daily average of 4,934 trades, according to NZX’s monthly shareholder metrics. The total value traded fell 24 percent to $2.6 billion in February from a year earlier, with the daily average down 24 percent to $138 million.

Of that, equity trading dominated, with total trades up 16 percent to 91,638 from the year earlier month, and the value traded down 24 percent to $2.6 billion. The debt market continued to struggle, with total trading down 18 percent to 2,104 and the value of debt trading down 0.5 percent to $75 million.

Sharemarket activity has been buoyed by the government partial privatisation of electricity companies MightyRiverPower and Meridian Energy last year, and as growing KiwiSaver funds have introduced more liquidity to the market. The stock exchange operator has said it won’t be able to replicate last year’s boom even as the government readies Genesis Energy for an initial public offering.

In February, the number of listed equities was unchanged from the year earlier at 166, while debt securities fell 10 percent to 86. NZX’s total listed securities slipped 4.1 percent to 258.

Some $92 million of new capital was raised on the bourse in February in nine separate events, up from $10 million raised in January. No new capital was listed in February.

The market value of all equity rose 24 percent to $86.1 billion, or 41 percent of gross domestic product, in February while the debt market was valued at $13.5 billion, or 6.5 percent of GDP, down 7.6 percent from a year earlier.

Derivatives trading also grew in the month, with lots traded up 144 percent to 3,585 and open interest, a measure of activity and liquidity, increasing 53 percent to 6,171 from February 2013.

NZX last traded at $1.29 on Tuesday, and has gained 4 percent so far this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Scoop Business: ComCom Charges Hawkins’ Finance Companies Over Debt Recovery

The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. More>>

ALSO:

Science Media Centre: The Big Science Stories Of 2014

It was a dramatic year for science, one that witnessed a severe outbreak of Ebola in West Africa and an historic mission to land a space probe on a comet. On the home front... headlines with animal testing for 'legal highs', 1080 use to tackle increased pest numbers and court action over genetically modified organisms among the most-covered stories. More>>

ALSO:

Tis The Season For Route Announcements: Air NZ Will Start Direct Flights To South America

Air New Zealand, the national carrier, will start its first scheduled service to South America, with direct flights between Auckland and Buenos Aires in Argentina starting in December next year, as it seeks to expand its services in the Pacific Rim. More>>

ALSO:

Scoop Business: Court Backs Green Groups, Overturns Ruataniwha Decision

A High Court judge has ordered the board of inquiry for New Zealand’s largest irrigation scheme, the Ruataniwha Water Storage Scheme in Hawke’s Bay, back to the drawing board on the out-clause it created to allow 615 larger farms to dodge a stringent new water quality rule relating to nitrogen leaching into waterways. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news