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


NZX first-half activity shows boosted volume, falling value

NZX first-half activity shows boosted volume, falling value

By Suze Metherell

July 28 (BusinessDesk) - The volume of cash trading on the NZX rose 22 percent in the first six months of the year, compared to a year earlier, with 16 new listings across its debt and equities markets, including four companies debuting on the bourse. The dollar value of cash trading declined.

There were 644,373 trades in the six months ended June 30, of which 599,581 were worth less than $50,000, up 24 percent from the year earlier, according to the Wellington-based stock market operator's half year shareholder metrics. The total value traded slipped 16 percent in the first half to $17.6 billion, while the average daily value fell 16 percent to $144 million.

The local market is experiencing a flurry of listings, with total equity securities listed up 0.6 percent to 166, from a year earlier, while listed debt slipped 6.6 percent to 85 securities. In the first half, Intueri Education Group, the private tertiary education company, Genesis Energy, the last of the government's power companies to be partially privatised, Serko, a travel booking firm and Gentrack, an airport and utilities software developer, all debuted on the bourse, while Chatham Rock Phosphate listed on the NZ Alternative Index, eight companies listed debt, and three made rights offers.

New capital listed slipped 8.1 percent to $3.52 billion, in part reflecting last year's MightyRiverPower debut, NZX said. Total capital raised by all issuers fell 8 percent to $815 million, with the number of capital raising events falling 19 percent to 96 in the first half.

The NZX 50 Index advanced 16 percent with equity market capitalisation up 21 percent to $88.4 billion, or 39 percent of gross domestic product. Listed debt market capitalisation fell 2.5 percent to $13.5 billion, or 5.9 percent of GDP, in the first half.

In the second quarter the regulatory arm of NZX issued 13 trading halts, up from nine in the first three months of the year, had 10 ongoing investigations in relation to issuers, up from eight in the first quarter, and two price enquiries, down from three. The company began 32 issuer-related investigations in the second quarter, from 28 the previous quarter.

Investigations and inquiries in relation to market participants jumped to 21, from nine the previous quarter, with five ongoing investigations at the end of the quarter, up from one in the first quarter.

The shares of NZX were unchanged at $1.30 and have advanced 4.8 percent year to date. It has an average rating of "sell", according to three analysts surveyed by Reuters, with a median price target of $1.27.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Science Awards: NZAS Celebrate NZ Scientific Achievements

The Marsden Medal is awarded for a lifetime of outstanding service to the cause or profession of science, in recognition of service rendered to the cause or profession of science in the widest connotation of the phrase. This year’s medal is awarded to Dr Mike Andrews. More>>


Court Rules: Affco 'Unlawfully' Locked Out Meat Workers

The note says the full court found for the plaintiffs, "that is that the defendant locked out the second plaintiffs unlawfully and that it breached s 32 of the Act by acting otherwise than in good faith towards the plaintiffs while collective bargaining was still going on." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news