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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news