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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade: NZ Trade Deficit Widens To A Record In September

Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More>>


Animal Welfare: Cruel Practices Condemned By DairyNZ Chief

DairyNZ chief executive Tim Mackle says cruel and illegal practices are not in any way condoned or accepted by the industry as part of dairy farming.

Tim says the video released today by Farmwatch shows some footage of transport companies and their workers, as well as some unacceptable behaviour by farmers of dragging calves. More>>


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


International Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news