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

 


NZX trading volumes rise in August, as equity offsets debt

NZX trading volumes rise in August, as increase in equity trades outweigh decline in debt trading

By Tina Morrison

Sept. 3 (BusinessDesk) - The volume of trades on the New Zealand stock exchange rose in August as an increase in equity trades outweighed a decline in debt trades.

The number of trades on the NZX rose 8.8 percent to 107,104 in August from the year earlier month, according to the stock exchange operator's monthly shareholder metrics. Equity transactions increased 9.1 percent to 104,400 while debt trading declined 2.7 percent to 2,704, the Wellington-based NZX said.

In August this year, some $550 million of new capital was raised on the NZX as businesses including mobile payments company Lateral Corp, logistics and fleet management company ERoad, mobile payment app company Pushpay and cinema software and analytics company Vista Group International listed on the market. In August last year, fuel distributor and retailer Z Energy listed on the market, accounting for the $1.5 billion of new capital listed in that period.

The total value traded in August this year declined 23 percent to $2.7 billion from a year earlier, led by a 23 percent fall in the value of equity trading to $2.6 billion. The value of debt trading advanced 9.1 percent to $90 million.

So far this year, the total number of trades on the NZX is 20 percent ahead of the year earlier although the value traded is down 14 percent. The NZX has benefited from a flurry of new listings, including the partial privatisation of state-owned electricity companies MightyRiverPower in May last year, Meridian Energy in October and Genesis Energy in April this year. However the NZX has said the boom is unlikely to be repeated as future offerings coming to market are expected to be much smaller.

Some $75 million of capital was raised by issuers in August from 12 capital raising events.

The market value of all equity increased 17 percent to $90.9 billion, or 40.2 percent of gross domestic product, while debt market capitalisation edged up 1 percent to $13.7 billion, or 6 percent of GDP.

The benchmark NZX 50 Index increased 15 percent from the year earlier to 5,223 and was recently at 5,218.

Shares in NZX last traded at $1.24, unchanged from the start of the year. The stock is rated an average 'sell' based on analyst recommendations compiled by Reuters.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news