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

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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