NZX share trading rises for second month in March
The total number of trades increased 5.1% to 124,598 in March from a year earlier, while the value traded rose 14% to $3.7 billion.
Hot Topic
Infrastructure
The volume and value of cash trading on New Zealand's stock market rose for the second consecutive month in March as the NZX 50 Index rose to record levels, pushed higher by demand for income-paying stocks.
The total number of trades increased 5.1% to 124,598 in March from a year earlier, while the value traded rose 14% to $3.7 billion, Wellington-based NZX said in a statement. The daily average number of trades was static at 5,773 from a year earlier, while the daily average value of trades was up 8.6% from March last year to $172 million.
New Zealand listed companies' relatively high dividends are luring international investors seeking good returns as global interest rates remain low after major central banks continue with loose monetary policy. The value of NZX's equity climbed 14% to $99.3 billion, or 42% of gross domestic product, in March from a year earlier.
The NZX 50 Index, which is to undergo a rebrand in June after the stock market operator entered into an agreement with S&P Dow Jones Indices, was up 14% to 5,834 in March from the same month a year earlier.
The number of listed equity securities increased 3.6% to 171 in March from a year earlier, while debt securities fell 4.7% to 81. There were 261 listed securities on the board at the end of March, up 2% from a year earlier.
The debt market's value dropped 10% to $12.1 billion, or 5.1% of GDP. The NZX's debt market has been fairly moribund in recent years, with bank funding often cheaper for companies than raising money through bond issues. The number of debt trades fell 10% to 2,405 with the value traded down 2.2% to $82 million.
Shares of NZX last traded at $1.10 and have fallen 6% since the start of the year.
(BusinessDesk)
Suze Metherell
Tue, 07 Apr 2015
Tue, 07 Apr 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
NZX share trading rises for second month in March
46630