Stock exchange activity picked up in April

Activity on the New Zealand sharemarket picked up in April following February's world market plunge.

Stock exchange operator NZX said today the number of trades rose 4 per cent against a year earlier to 44,443.

That was in contrast with the previous month's 11 per cent fall.

However, the value traded fell 4 per cent to $2.2 billion, while the average daily value traded fell 9 per cent to $123 million.

Total trades on the main board, the NZSX, rose 5 per cent but the value fell 3 per cent to $2.1b.

During the month, the NZSX 50 Index gained 11 per cent to 4195, to be up 3 per cent since the beginning of the year.

New capital raised on the market totalled $555m for the month, a 106 per cent increase, to be up 11 per cent for the year so far.

New equity raised was $210m and new debt raised totalled $345m.

Activity on the alternative market, the NZAX, remained subdued at 421 trades for the month totalling $3m.

Shares in NZX, which hit a record high yesterday of $10.10, last traded down 4c at $10.02.

- NZPA