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

 


CORRECT: NZX 1H activity shows boosted volume, lower value

CORRECT: NZX first-half activity shows boosted volume, falling value

(Fixes number of listings in first graph, removes incorrect listing date of CRP and rights issues in third graph)

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 12 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 eight companies listed debt, including bonds issued by Auckland International Airport, Infratil and Sky Network Television.

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.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: 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>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news