NZX Operating Metrics released today show strong trading in the month of May, with average daily trade numbers up 12% on the same period last year at 2,719, the highest since October last year. This is the first time that average daily number of trades has exceeded the previous year’s total since that date.
Average daily value traded, at $105 million, is the highest since September last year.
Total capital raised in May was $754 million, with a breakdown of $209 million in equity and $545 million in debt. This is an all time record for capital raising. Equity raised in May was up 355% on the same period last year. Debt raised in May was up 1,255% on the same period last year.
Of the $545 million raised in debt, $280 million was raised by Rabo Capital Securities, $150 million by Vector Limited and $115 million by AMP Group Finance Limited.
NZX Head of Trading and Liquidity Fiona Mackenzie said, “Across the board, this is the best month’s performance we’ve seen since the current economic cycle began. Increasing liquidity, and ensuring investors are well-informed about the new tradable products that will be available on NZX Markets later in the year, are key priorities for NZX throughout the rest of 2009.”
Total capital raised year to date is up 114% on the same period last year, at $3.953 billion. The current capital raising record is the $5.5 billion raised in 2007.
Negative numbers on data terminals largely reflect the figure from one data vendor, whose quarterly subscription renewal period turned over during the month. “It’s not surprising given the environment,” said Fiona Mackenzie. “The end user firms who have cut data terminals are looking to make cost savings where ever possible, and we would expect the same end user firms re-signing in upcoming months as markets improve.”