NZX trading volumes continue to fall

Tuesday 3rd November 2009

Trading volumes on NZX’s markets fell in October, while the value of trade increased as markets continue to recover from the worldwide financial collapse last year.

Total trades sank 13% to 53,591 in October from the same month in 2008, and declined 5.1% from September, the stock exchange operator and regulator said in its monthly operational report.

Still, the total value traded across the bourses climbed 12% to $2.39 billion from a year earlier, and was up 3.9% from a month ago. The daily average value traded in October surged 17% to $114 million from 2008, and climbed from $107 million in September.

The total trades worth less than $50,000 declined 12% to 48,232. For the second month this year, no new debt sales were recorded, though $361.5 million was raised in new equity. Some $5.7 billion of new capital has been raised this year.

NZX markets shed 29% of their capitalisation in September last year following the collapse of the Lehman Brothers in the US, which sparked fears the global financial system would fail and saw companies tap investors to bolster their balance sheets.

Total trades on the NZDX climbed 19% to 4,031 in October from the same month a year earlier, while the total value traded tumbled 37% to $171 million.

The value of securities traded on the NZSX climbed 19% to $2.21 billion, while total trades sank 15% to 49,356. Total trades on the NZAX increased 21% to 204 with total value surging 162% to $2 million.

Shares in the bourse operator were unchanged at $7.90, and have surged 61% this year.

Businesswire.co.nz

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