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NZX trading volumes and value slump on year in February

Monday 6th March 2017

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Both cash trading volumes and the value of trading fell on year on the NZX in February, when the bulk of the country's biggest listed companies announced earnings.

The volume of cash market trading fell 7.9 percent to 137,263 in February from the same month a year earlier, while the total value traded fell 16 percent to $2.8 billion, Wellington-based NZX said in its monthly shareholder metrics. While both metrics were down on the year they gained versus January as reporting season got underway. 

Daily average trades fell 3.1 percent to 7,224 while the daily average value fell 12 percent to $149 million. The number of trades worth less than $50,000 dropped 7.6 percent to 129,849.

The volume of equity transactions in January fell 8.2 percent to 134,306 and the value of those trades fell 16.9 percent to $2.7 billion. The benchmark S&P/NZX 50 Index ended the month 15 percent higher at 7,167.

Meanwhile, the volume of debt transactions increased 9.2 percent to 2,957 as the value traded declined 4.8 percent to  $122 million. The number of debt securities on the market jumped 24 percent compared with the year earlier to 109 while total listed securities across all asset classes rose 6.3 percent to 304.

The NZX's debt market has been a popular avenue for firms to raise funds over the past year as low interest rates provide cheap finance on bond issues. 

Shares of NZX last traded at $1.12 and have gained 16 percent in the past year.

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