NZX cash market trading climbs
Average daily trades rose 39% to 7138.
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NZX cash trading jumped 47% by volume in April from the same month last year with gains in both equity and debt security transactions.
Total trades rose to 142,769 while average daily trades rose 39% to 7138, according to the market operator's shareholder metrics. The total value of securities traded in April rose 55% to $4.1 billion, or an average of $204 million a day.
The benchmark S&P/NZX 50 Index reached a record high 6917.57 on April 21, a 33% gain over 12 months, as continued low interest rates worldwide drove investors to a market offering relatively attractive dividend yields.
Meanwhile, the debt market has grown as corporates take advantage of low rates to issue bonds, adding to the $5.56 billion of debt securities the Local Government Funding Agency listed last November.
Total equity trades rose 47% to 139,551 last month and the value rose about 55% to $3.9 billion. Debt trades rose about 34% to 3128 while the value jumped 61% to $174 million. There were no new capital listings last month, although there were $312 million of secondary capital raisings.
The value of all equity securities on the NZX rose 14% to $116.6 billion, equivalent to 47.4% of gross domestic product in April from a year earlier, while the value of debt climbed 66% to $20.9 billion, or 8.5% of GDP.
Among the other metrics, the NZX's SuperLife unit lifted funds under management by about 16% to $1.5 billion, while the value of Smartshares rose 176% to about $1.6 billion, driven by growth in SuperLife funds under management.
Grain trading rose 5% to 442,530 tonnes.
NZX's own shares last traded at $1 and have dropped 12% in the past 12 months.
(BusinessDesk)
Jonathan Underhill
Thu, 05 May 2016
Thu, 05 May 2016
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NZX cash market trading climbs
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