NZX share and debt trading underlining stronger start to 2012

Friday 3rd February 2012

The volume of trading in shares and bonds on the NZX jumped last month in a sign the local exchange may be heading for a stronger year in 2012 as the local economy picks up pace.

Total trades jumped by 46 percent to 52,173 in January and the value of trading rose 7.6 percent to $1.4 billion, according to NZX’s monthly shareholder metrics.

Equity trades jumped about 48 percent to 49,859 and the value rose 7 percent to $1.3 billion.

Total debt transactions, which fell in 2011 as activity in the equity market climbed, rose 19.9 percent to 2,314 in January and the value rose 23 percent to $56 million.

Shares of NZX fell 1.1 percent to $2.65 today and have gained 17 percent so far this year. The shares are rated ‘outperform’ based on the consensus of three recommendations compiled by Reuters.

NZX this week named Singapore-based business consultant Tim Bennett to replace long-serving Mark Weldon as its chief executive, effective May. 7.

(BusinessDesk)

BusinessDesk.co.nz

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