NZ market activity up in December from year earlier

The average daily value traded on the New Zealand sharemarket in December was up 22 per cent from a year earlier to $81 million, while for 2009 as a whole the figure was down 12 per cent to $98m.

In March, the benchmark NZSX-50 index fell to its lowest level in more than five years, bottoming around 2410, as investors reacted to the global financial crisis.

In 2007 it had peaked around 4340 points, with the decline clearly under way from October 2007.

The index closed 2009 on 3230 points, up 19 per cent from a year earlier.

In operational reports published today, sharemarket operator NZX said the average daily number of trades last month was 2054, up 14 per cent on a year earlier.

Capital raised in December totalled $1.09 billion, including $762.6m in equity and $331.1m in debt. For the year $7.28b of capital was raised, with $3.93b of it in equity and $3.35b in debt.

For all of 2009, the average daily number of trades was down 3 per cent from 2008 at 2283.

- NZPA