You are using an older browser version. Please use a supported version for the best MSN experience.

NZX cash trading drops in December

NZ Newswire logoNZ Newswire 8/01/2017

Cash trading on the NZX dropped in December, halting a four-month streak of gains, with both the value and volume of trades declining.

The volume of cash market trading fell 4.9 per cent to 121,605 in December from the same month a year earlier, with total value traded down 11 per cent to $3 billion, Wellington-based NZX said in its monthly shareholder metrics released on Monday.

Daily average trades dipped 0.2 per cent to 6080, while the daily average value fell 6.8 per cent to $149 million.

The volume of equity transactions in November fell 5.6 per cent to 118,059 and the value of those trades declined 12 per cent to $2.8b.

The benchmark S&P/NZX 50 Index ended the month 0.7 per cent lower, having declined early in the month before recovering towards the end of the year.

Meanwhile, the volume of debt transactions increased 23 per cent to 3564 as the value traded rose 6.5 per cent to $139m.

NZX's debt market had a renewed vigour last year as low interest rates made bonds an attractive funding option for companies. The number of debt securities on the market jumped 20 per cent compared with the year earlier to 107, while the 304 listed securities across all asset classes was up 5.2 per cent.

Shares of NZX last traded at $1.03 and have dipped 0.9 per cent in the past year.

image beaconimage beaconimage beacon