Sharemarket surge expected to persist
The sharemarket got off to a cracking start in January with higher trading volumes and values - activity that is likely to pick up despite a stumble on international markets this week.
The NZX's monthly trading figures yesterday showed 69,281 securities were traded in January, up 32.8 per cent compared to the same period 12 months ago.
That was equivalent to $2.3 billion in trade, up 65.7 per cent on last year, boosted by the listing of Fonterra's Shareholder Fund late last year as well as a surge in investors' appetite for equities.
The figures follow a 21.8 per cent pick-up in trading volumes over the course of 2012 - and that is expected to grow in the year ahead despite an international hiccup this week.
Global equity markets closed awash in red ink on Monday, on the back of European political developments. Fairfax NZ
Taranaki Daily News