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NZ share trading jumps 49pc in November

NZ Newswire logoNZ Newswire 5 days ago Paul McBeth

New Zealand share trading jumped 49 per cent in November from a year earlier, with values up by almost the same amount.

The benchmark NZX 50 Index broke new ground, including a mammoth trading day to finish the month.

Total equity trades rose to 214,110 in November from 144,029 a year earlier and up from 213,884 in October, NZX monthly shareholder metrics show.

The value of equity trading climbed 47 per cent to $5.4 billion in November from a month earlier, which included turnover of $1.48b on November 30, when Fisher & Paykel Healthcare was added to a major MSCI index at the expense of Contact Energy.

At the same time, the benchmark NZX 50 broke new highs at the end of the month, and was up 19 per cent at 8187 as at November 30 from a year earlier.

The index has gained 19 per cent so far this year, closing at 8176.21 on Tuesday at a historical price-to-earnings ratio of 18.2 times.

NZX has struggled to attract new companies to the market this year, with just one initial public offering in Oceania Healthcare, and that pipeline has come under scrutiny from fund managers with the high profile departure of Xero, which is shifting to a sole listing on the ASX.

Its shares last traded at $1.10 and have gained 4.8 per cent so far this year.

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