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

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news