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

 


NZ share trading busier in March, though value slides

NZ share trading busier in March, though value slides

April 3 (BusinessDesk) - The volume of trading on New Zealand’s share market continued to gain in March, though the value of activity fell for a fourth month.

The number of trades jumped 49 percent to 121,258 in March from the same month a year earlier, with the transactions of less than $50,000 up 55 percent to 112,353. Still, total value traded dropped 24 percent $3.3 billion, for a 27 percent decline in the daily average value traded to $158 million.

Equity trading continued to dominate activity, with total trades up 51 percent to 118,573, and value traded dropping 24 percent to $3.2 billion. The decline in debt market activity slowed, with a 3.5 percent fall in total trades to 2,685 and a 6.3 percent drop in value to $84 million.

Sharemarket activity has been buoyed by the government partial privatisation of electricity companies MightyRiverPower and Meridian Energy last year, with Genesis Energy the final in the scheme listing this month.

The stock market operator doesn’t expect to replicate last year’s bonanza, and is currently planning a new market for small companies with lower disclosure obligations and cheaper fees.

The number of total listed securities on the exchange fell 3.8 percent to 255 in March from a year earlier, with debt securities shedding 11 percent to 85, while equity listings edged up 0.6 percent to 164.

Some $233 million of primary equity was raised in March and $145 million of dual and secondary equity, in 23 events. That takes the total capital raised this year to $480 million. Some $222 million of new capital was listed in March.

The market value of all equity issuers was up 24 percent to $87.4 billion, or 38.5 percent of gross domestic product, as at March 31, while the debt market was valued at $13.5 billion, or 6 percent of GDP, down 5.8 percent from a year earlier.

Shares in NZX were unchanged at $1.27 yesterday, and have gained 2.4 percent this year.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news