20 Oct 2011

Half cent trading for more stocks

11:03 am on 20 October 2011

More stocks are to be traded on the New Zealand sharemarket in half cent movements.

In March, the NZX began trialing share trading in half a cent steps for Telecom, Kiwi Income Property Trust, Guiness Peat Group, Fisher & Paykel Appliances and Auckland International Airport ltd.

The stock exchange operator says the small price steps have had a positive effect on stock liquidity.

As a result, from 7 November, the trial will be extended to include all dual-listed stocks which trade under $2.50 and all NZX Property Sector stocks.

These include: Air New Zealand, Infratil, New Zealand Oil & Gas, AMP New Zealand Office Trust, Argosy Property Trust, Caledonia Investments, DNZ Property Fund, Goodman Property Trust, Kiwi Income Property Trust, National Property Trust, Property for Industry and Vital Healthcare Property Trust.