NZX trades slow in September

The total number of trades on the NZX's exchanges rose 23pc to 60,809 in September from the same month a year earlier, and was down from 85,992 in August. Photo / Kenny Rodger

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 US, credit rating. Volumes were still up on September 2010.

The total number of trades rose 23 per cent 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 per cent from September 2010. The average number of trades rose by 23 per cent to 2,764, or $109 million per day.

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

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

NZX's total equity market capitalisation, which includes the NZX's small-cap NZAX market, was up 4.9 per cent at $5.8 billion in September from 2010, with debt down 0.2 per cent 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 per cent to 169 in September from 2010, while listed debt securities dropped 6.1 per cent to 108 from a year earlier.

That comes as the stock exchange prepares for some new listings, with eco-light bulb maker Energy Mad Ltd 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 per cent this year.