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NZX cash trading drops in December, debt transactions remain strong

Monday 9th January 2017

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Cash trading on the NZX dropped in December, halting a four-month streak of gains, with both the value and volume of trades declining.

The volume of cash market trading fell 4.9 percent to 121,605 in December from the same month a year earlier, with total value traded down 11 percent to $3 billion, Wellington-based NZX said in its monthly shareholder metrics released this morning. Daily average trades dipped 0.2 percent to 6,080, while the daily average value fell 6.8 percent to $149 million.

The volume of equity transactions in November fell 5.6 percent to 118,059 and the value of those trades declined 12 percent to $2.8 billion. The benchmark S&P/NZX 50 Index ended the month 0.7 percent lower, having declined early in the month before recovering towards the end of the year.

Meanwhile, the volume of debt transactions increased 23 percent to 3,564 as the value traded rose 6.5 percent to $139 million. NZX's debt market had a renewed vigour last year as low interest rates made bonds an attractive funding option for companies. The number of debt securities on the market jumped 20 percent compared with the year earlier to 107, while the 304 listed securities across all asset classes was up 5.2 percent.

Shares of NZX last traded at $1.03 and have dipped 0.9 percent in the past year.

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