Sharechat Logo

NZX share trading rebounds in June, following a dip in May

Thursday 3rd July 2014

Text too small?

The volume of New Zealand share trading rebounded in June, following a dip in May which ended a 20-month run of gains.

The number of trades on the NZX rose 15 percent to 105,981 in June from a year earlier, with transactions worth less than $50,000 up 16 percent to 98,577, according to the stock exchange's monthly shareholder metrics. Daily average value traded rose 3.3 percent to $146 million and total value traded advanced 8.8 percent to $2.9 billion. Equity trading gained 16 percent to 103,203 and value traded increased 8.7 percent to $2.8 billion.

The stock market is experiencing a flurry of smaller listings, after it benefited from the government's partial privatisation of MightyRiverPower, Meridian Energy and Genesis Energy. Last month, utility and airports software developer Gentrack Group and online business travel booking company Serko joined the bourse and this month IkeGPS Group, which sells a range of portable measuring devices, Scales Corp, a fruit and vegetables logistic group, and Pushpay, the mobile payment app developer, plan to list.

Issuers raised $66 million across 18 events in June, taking the total so far this year to $815 million. Some $340 million of new capital was listed in June.

The number of equity securities increased 0.6 percent to 166 in June from a year earlier, while debt security numbers dropped 6.6 percent to 85.

In the stock exchange's debt market, the number of trades in June gained 5.3 percent to 2,778 from the year earlier month while the value traded increased 11 percent to $84 million.

The market value of all equity increased 21 percent to $88.4 billion, or 39 percent of GDP while debt market capitalisation slid 2.5 percent to $13.5 billion, or 5.9 percent of GDP.

The benchmark NZX 50 Index increased 16 percent to 5,141 from the year earlier and was recently at 5,151.614.

NZX shares last traded at $1.30 and have gained 4.8 percent so far this year. The stock is rated an average 'sell' based on three analyst recommendations compiled by Reuters, with a median price target of $1.27.

 

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Mandatory farm plans scorned as 'tick box' exercises
Kiwi dollar firms on weak US retail data, capped by rate-cut expectations
17th October 2019 Morning Report
SkyCity hoses down union claims over potential job losses
OPINION: Fair Payment Agreements and 'swallowing vomit' - the lot of the CTU
MARKET CLOSE: NZ shares gain; Restaurant Brands climbs on upbeat outlook
NZ dollar stalls after Bascand's rate cut comments
Bascand says RBNZ will consider changing bank capital proposals
Affordable electricity key to decarbonisation - Genesis
Graeme Hart trims global packaging empire with US$615m asset sale

IRG See IRG research reports