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NZX trading volume, value continues to pick up in February

Tuesday 2nd March 2010

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Trading on NZX's markets continued to pick up last month as investors regain confidence about the state of New Zealand’s debt and equity markets after the worst recession in 18 years.  

Total trades rose 12% to 42,912 in February from the same month a year earlier, and were up from 36,139 in January, while the total value traded increased 3% to $1.85 billion from February 2008 was up from $1.38 billion a month earlier, the bourse operator said in a statement today.  

Most of the growth came in the NZDX market, which trades debt securities, where total trades jumped 84% to 3,561 from a year ago, and was up from 2,315 trades in January. The value of debt security trades more than doubled to $127 million from 2008, and was up 87% from a month earlier.  

The number of NZSX market trades grew 8% to 39,189 from a year earlier, and was up from 33,688 in January, while the value was flat at $1.72 billion from 2008, though it was up from the $1.38 billion in January.  

Trading on the small-cap NZAX market jumped 40% to 162 last month from 2008, and was more than the 136 in January. The value climbed 38% to $700,000 from last year, though it was down from $1 million in January.  

Some $135.7 million of new equity was raised in February, the majority of which came from Auckland International Airport Ltd.’s $126 million placement. No new debt equity was raised last month.  

Market capitalisation edged down to $53.57 billion from $53.62 billion January, though it was up 22% from February 2008, amounting to about 29% of gross domestic product.  

The NZX 50 index surged 25% to 3,156 last month from February 2008, though it was down 2% in the year to date.  NZX boosted its revenue 33% to $42.8 million in the 12 months ended Dec. 31, with income from listings up 30% to $11.6 million.

Still, the stock exchange operator and regulator took a $19.9 million hit on the value of its holding in Markit, the company that bought its TZ1 carbon registry, and reported a weaker full-year profit than anticipated. 

The shares dropped 1% to $2.02 in trading today, and have declined 13% this year.  

 

 

Businesswire.co.nz



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