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NZX trading volume up, values ease back slightly

Tuesday 6th April 2010

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Trading on NZX’s markets picked up again last month as recession fears fade and investors look for growth stocks in the coming month.

Total trades in March were up 9% to 50,752 compared with March 2009, while the total trade value lifted 2% to $1.89 billion compared to a year earlier. Total trades also lifted in March compared to February’s figure of 42,912.

Average daily trades in March were 2,207, a 4% increase from the previous year, while the daily average value traded was $82 million, a 2% drop on a year ago.

The NZX 50 index closed at 3,268, a 26% increase on the same period last year, while the headline index rate rose 3% over the March 2010 quarter.

The NZDX, the stock exchange’s debt securities trading market, saw a 57% increase to 4,521 trades in March compared to a year earlier, though the total trade value of $141 million was only a 2% increase on March 2009.

Total capital raised in March 2010 was $944.97 million, made up of $775 million of new debt, and the rest as equity. The majority of the new debt was raised by dairy exporter Fonterra Cooperative Group and state-owned energy generator Meridian Energy Ltd..

Market capitalisation lifted 24% from a year ago to $54.95 billion, and also edged up from February’s $53.57 billion.

For March, the mean Electricity Price Index for N.Z. was $117/MWh, peaking at $130/MWh on March 26. Hydro levels were at expected levels for the month, though inflows were low which meant more expensive plant was used for electricity generation.

 

 

 

Businesswire.co.nz



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