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

 


NZX cash trading grows in July with new listings

NZX cash trading grows in July with new listings

By Paul McBeth

Aug. 5 (BusinessDesk) - NZX cash trading grew for a second month in July as the pipeline of new listings continued to stoke activity on the local market.

The number of trades rose 20 percent to 112,092 in July from the same month a year earlier, and was up from 105,981 in June, according to NZX's monthly metrics. Transactions worth less than $50,000 were also up by 20 percent to 104,334, and 98,577 in June. The total value traded rose 15 percent to $2.9 billion from July 2013, the same value from a month earlier, and the daily value traded rose 15 percent to $128 million, down from $146 million in June.

Equity trading continued to drive the gains, with total trades up 20 percent to 109,281 from a year earlier, and value up 16 percent to $2.9 billion. Debt trading fell 0.6 percent to 2,811, and the value traded dropped 6.2 percent to $81 million.

A steady number of new listings has underpinned growth in the local market in recent years after the government's partial privatisation programme renewed appetite for firms to go public. Some $890 million of new capital was listed in July, taking the year-to-date total to $4.41 billion. Glass manufacturer Metro Performance Glass, fruit and vegetable exporter Scales Corp and measuring device maker ikeGPS listed last month.

The number of equity securities on the stock market rose 1.8 percent to 169 in July, and was up from 166 in June, while debt securities fell 4.5 percent to 85 from a year earlier, and were unchanged from June. Other securities were unchanged at six.

The market value of all equity rose 17 percent to $89.4 billion, or 39.5 percent of gross domestic product, from a year earlier, while debt market capitalisation increased 0.1 percent to $13.6 billion, or 6 percent of GDP.

Issuers raised $472 million in July across 12 events, of which $22 million was primary equity and $450 million was dual and secondary equity. No new debt was raised in July. So far this year issuer have raised $1.29 billion.

The benchmark NZX 50 index rose 0.5 percent in July to 5167.989 and was up 14 percent from a year earlier. The benchmark index closed yesterday at 5090.685.

Shares of NZX dropped 1.5 percent to $1.29 yesterday, and have gained 4 percent this year. The stock is rated an average 'sell' based on three analyst recommendations compiled by Reuters, with a median target price of $1.27.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Wool Exports Jump To The Highest In More Than A Decade

New Zealand wool exports jumped to their highest level in more than a decade in June, aided by a lower currency and strong demand from China, the nation’s largest market. More>>

ALSO:

Surreal Estate: Home Values Rise At Fastest Rate In Seven Years

The latest monthly QV House Price Index shows that nationwide residential property values for July have increased 10.1% over the past year which is the fastest annual rate since 2007... The Auckland market has increased 18.8% year on year. More>>

ALSO:

New Employment Laws: Talley’s AFFCO Workers To Strike

The decision comes after the Talley’s owned company walked away from mediation last week and applied to end bargaining under the government’s new employment laws - the first such application since the law came into effect. More>>

ALSO:

Private Action: Employer Pleads Guilty Over Forestry Death

The CTU has always known that the death of forestry worker Charles Finlay was due to the poor health and safety practices of his employer... "The CTU, with the support of Charles’s family, needed to take this ground breaking private prosecution." More>>

ICT Innovation: Six NZ Finalists In World Summit Awards

The awards are a global showcase of 40 projects, across eight categories, with a special emphasis on those which show the benefits of information and communication technology for the development of communities. New Zealand has finalists in six of the eight categories. More>>

ALSO:

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news