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Current as of 29/05/17 07:40PM NZST

NZX trading volumes and value slump

By Rebecca Howard

Photo / File
Photo / File

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 per cent to 137,263 in February from the same month a year earlier, while the total value traded fell 16 per cent 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 per cent to 7,224 while the daily average value fell 12 per cent to $149 million. The number of trades worth less than $50,000 dropped 7.6 per cent to 129,849.

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

Meanwhile, the volume of debt transactions increased 9.2 per cent to 2,957 as the value traded declined 4.8 per cent to $122m.

The number of debt securities on the market jumped 24 per cent compared with the year earlier to 109 while total listed securities across all asset classes rose 6.3 per cent 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 per cent in the past year.

- BusinessDesk

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