NZX trading volumes, values traded fall in September
By Tina Morrison
Oct. 3 (BusinessDesk) - The volume of trades on the New Zealand stock exchange fell in September as an increase in debt trades failed to make up for a decline in equity trading.
The number of trades on the NZX dropped 4 percent to 103,458 in September from the year earlier month, according to the stock exchange operator's monthly shareholder metrics. Equity transactions fell 4.2 percent to 100,804, while debt trading increased 2.8 percent to 2,654, the Wellington-based NZX said.
During the month, some $35 million of new capital was raised by issuers, well down on the $312 million raised in September last year. The total value traded in September this year fell 16 percent to $2.9 billion from the year earlier month, led by a 17 percent drop in the value of equity transactions to $2.8 billion. The value of debt trading advanced 16 percent to $98 million.
The market value of all equity in September rose 14 percent to $90.8 billion from the year earlier, equating to 40.1 percent of gross domestic product. The debt market capitalisation edged up 1.1 percent to $13.6 billion, accounting for 6 percent of GDP.
The benchmark NZX 50 Index increased 11 percent from the year earlier to 5,255 and was recently at 5,245.237.
Shares in NZX last traded at $1.23 and have slipped 0.8 percent from the start of the year. The stock is rated an average 'sell', based on analyst recommendations compiled by Reuters.