NZX share trades up in March

The volume and value of trades on the sharemarket in March were both up markedly from the same time last year, according to the latest operating metrics released by New Zealand Exchange (NZX).

There were 2780 average daily trades this March, up 21 per cent on the same month last year. Despite fewer trading days compared to last month because of the early Easter break, the total number of trades in March gained 10 per cent on the year earlier to 58,382.

The average daily value of shares traded increased 28 per cent to $119 million, reaching $2.5 billion for the month, up 17 per cent on last March.

There were no new listings on the market in March, but existing listed companies raised $442 million over the month. This included a $190 million share placement by Macquarie Goodman Property Trust and a $141 million share placement by Fletcher Building.

Year-to-date listed issuers have raised $639 million in new capital.

- NZPA