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

 


NZX share trading rebounds in June, following a dip in May

NZX share trading rebounds in June, following a dip in May

By Tina Morrison

July 3 (BusinessDesk) - The volume of New Zealand share trading rebounded in June, following a dip in May which ended a 20-month run of gains.

The number of trades on the NZX rose 15 percent to 105,981 in June from a year earlier, with transactions worth less than $50,000 up 16 percent to 98,577, according to the stock exchange's monthly shareholder metrics. Daily average value traded rose 3.3 percent to $146 million and total value traded advanced 8.8 percent to $2.9 billion. Equity trading gained 16 percent to 103,203 and value traded increased 8.7 percent to $2.8 billion.

The stock market is experiencing a flurry of smaller listings, after it benefited from the government's partial privatisation of MightyRiverPower, Meridian Energy and Genesis Energy. Last month, utility and airports software developer Gentrack Group and online business travel booking company Serko joined the bourse and this month IkeGPS Group, which sells a range of portable measuring devices, Scales Corp, a fruit and vegetables logistic group, and Pushpay, the mobile payment app developer, plan to list.

Issuers raised $66 million across 18 events in June, taking the total so far this year to $815 million. Some $340 million of new capital was listed in June.

The number of equity securities increased 0.6 percent to 166 in June from a year earlier, while debt security numbers dropped 6.6 percent to 85.

In the stock exchange's debt market, the number of trades in June gained 5.3 percent to 2,778 from the year earlier month while the value traded increased 11 percent to $84 million.

The market value of all equity increased 21 percent to $88.4 billion, or 39 percent of GDP while debt market capitalisation slid 2.5 percent to $13.5 billion, or 5.9 percent of GDP.

The benchmark NZX 50 Index increased 16 percent to 5,141 from the year earlier and was recently at 5,151.614.

NZX shares last traded at $1.30 and have gained 4.8 percent so far this year. The stock is rated an average 'sell' based on three analyst recommendations compiled by Reuters, with a median price target of $1.27.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Season Ends: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news