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NZX monthly trading growth slows in September after August spike

Wednesday 5th October 2011

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The volume of trading on NZX’s exchange slowed last month after spiking in August when global market volatility surged following Standard & Poor’s downgrade of the U.S, credit rating. Volumes were still up on September 2010.

The total number of trades rose 23% to 60,809 in September from the same month a year earlier, and was down from 85,992 in August, the bourse operator said in a statement. The total value traded was $2.2 billion, up 3.9% from September 2010. The average number of trades rose by 23% to 2,764, or $109 million per day.

Equity transactions climbed 26% to 57,078 from a year ago, for a total value of $2.1 billion. Debt transactions fell 7.2% to 3,731, for a total value of $99 million.

The benchmark NZX 50 Index rose 0.8% in September after clawing back losses in August when equity markets tumbled on the back of the U.S. downgrade. The index rose 0.1% to 3320.39 yesterday, and is up just 0.2% this year.

NZX’s total equity market capitalisation, which includes the NZX’s small-cap NZAX market, was up 4.9% at $5.8 billion in September from 2010, with debt down 0.2% at $15.5 billion.

The market raised $189 million of new equity in September, taking the year-to-date total to $1.46 billion, and raised $15 million of debt, for a year-to-date total of $766 million.

The number of listed securities fell 3.4% to 169 in September from 2010, while listed debt securities dropped 6.1% to 108 from a year earlier.

That comes as the stock exchange prepares for some new listings, with eco-light bulb maker Energy Mad trying to raise as much as $10 million in an initial public offering, and retirement village operator Summerset seeking up to $136 million in a partial float. Rival retirement village operator Vision Senior Living is rumoured to come to market this year, and Fairfax Media Group will sell a partial stake in online auction site Trade Me before the year is out.

Shares in NZX were unchanged at $2.37 in trading yesterday, and have climbed 55% this year.


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