Tag Archives: NZX

NZX milestone 200k of dairy derivative trades shows it’s on track to be ‘global dairy hub’

NZX says reaching 200,000 dairy derivative contracts traded across its platform shows the market operator is on track to become the global hub for trading tied to New Zealand’s biggest export commodity. Trading exceeded the trading milestone this month on the NZX Global Dairy Derivatives Market, which was launched in October 2010 to offer risk management for the dairy industry It followed the establishment of Fonterra Cooperative …

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MARKET CLOSE: NZ shares fall; Meridian, MRP, DNZ drop on weakening yield demand

New Zealand shares fell, led by Meridian Energy and MightyRiverPower as demand abated for companies with dependable dividend streams. Warehouse Group rose ahead of reporting its earnings this week. The NZX 50 Index fell 19.579 points, or 0.3 percent, to 5874.082. Within the index, 22 stocks fell, 19 rose and nine were unchanged. Turnover was $156 million. Overnight bond yields rally, as investors bet on the US economy recovery …

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Evolve shares climb 7 percent on NZX debut

Shares of Evolve Education Group, the childcare business, rose 7 percent on its NZX debut after its initial public offer raised $132.3 million in new capital to fund its acquisitions in early childhood education. The stock first traded at $1.07, up from its $1 offer price, and valuing the company at $189.5 million. The Auckland-based company, set up in May by Greg …

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MARKET CLOSE:NZ shares gain led by Chorus; Fonterra fund rises on lower milk price

New Zealand shares rose led by Chorus as investors mull the impact of the proposed regulated price on the network operator’s copper lines, while Spark New Zealand extended its decline on the prospect higher costs. Fonterra Shareholders’ Fund gained on falling global dairy prices. The NZX 50 Index rose 73.031 points, or 1.3 percent, to 5503.066. Within the index, 40 stocks rose, …

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While you were sleeping: Outlook optimism

Equities on Wall Street gained, along with the US dollar, amid optimism the American economy remains on firm footing after a report showed spending on construction is outpacing forecasts. In afternoon trading in New York, the Dow Jones Industrial Average rose 0.51 percent, the Standard & Poor’s 500 Index gained 0.54 percent, while the Nasdaq Composite Index added 0.41 percent. …

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NZX trading volumes, values fall in November

The volume and value of cash trading on New Zealand’s stock exchange fell in November from a year earlier, with activity down across the board. The total number of trades dropped 16 percent to 118,248 in November from the same month in 2013, for a total value of trading worth $3.2 billion, down some 39 percent from a year earlier, …

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NZX signs MOU with freshly-licensed Bank of China

NZX, New Zealand’s stock market operator, has signed a memorandum of understanding with the Bank of China to develop financial products, with a focus on the agricultural sector and capital markets. The deal will see the stock market operator and one of China largest state-owned commercial banks develop and promote products to both New Zealand and Chinese customers, the Wellington-based company said in a …

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NZX posts slower Q3 revenue growth as election weighed

NZX, the New Zealand stock exchange operator, said third quarter revenue growth almost halved from the year earlier pace as activity slowed ahead of September’s general election and the number of new listings declined. The Wellington-based company said revenue rose 6.7 percent to $16.5 million in the three months ended Sept. 30, lagging the year earlier’s 12 percent pace. New capital listed over the latest …

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SLI co founder Geoff Brash resigns after reducing his stake at end of escrow period

Co-founder of SLI Systems Geoff Brash, who last week halved his stake in the search engine developer, has resigned as vice president from the company as the shares trade at a record low. Brash will end 13 years with the company when he formally resigns as vice president from Business Intelligence at the end of this year, the Christchurch-based company said in a statement …

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MARKET CLOSE: NZ shares rise as investors chase yield; Spark, property trust gain

New Zealand stocks rose, paced by Spark New Zealand as investors were lured to the local bourse’s relatively high yields. Infratil rose as it sealed the sale of its Australian energy assets and signalled a capital return. Genesis Energy fell as it shed rights to its dividend. The NZX 50 Index rose 19.546 points, or 0.4 percent, to 5274.583. Within the index, …

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