Keep checking our Dairy Futures site www.dairyfutures.com
NZX Dairy Futures go live today, at 8.00 am New Zealand time.
It has been a long process to get here, but we are proud to launch this exciting new derivatives product.
As NZX Head of Markets Fiona Mackenzie said in the Herald interview, we have been working on the futures market for two years.
“Can you imagine being pregnant for two years?” Mackenzie said.
“It’s that sort of thing, ‘oh my goodness this has been such a long time in the making and it’s actually here’, so it’s excitement.”
More information:
www.dairyfutures.com
and www.nzx.com
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Posted by Merja on October 7th, 2010 :: Filed under
General
The debate in terms of domicile and impact on share valuations has been in the media again recently as the result of one New Zealand listed company signaling that they may consider moving to Australia. The company suggested the move would be in the best interests of its shareholders on the basis of a possible re-rating of the shares.
Greater liquidity and improved access to Australian capital markets to fund future growth were also cited as factors behind the possible relocation. The data suggests this is not always the case.
A research note recently published by Deutsche Bank shows that at the macro-level, the New Zealand market is trading at a higher price / earnings multiple (P/E) than the Australian market. According to this research note, it is difficult to see how liquidity will improve if a company relocates away from its shareholder base. In some cases, the move or relocation of company over to Australia might mean poorer stock coverage in terms of research – not better coverage.
You can listen to more on the subject from a Radio NZ Business Report which was aired on 24 September:
http://podcast.radionz.co.nz/business/bus-mnr-20100924-0647-Morning_Business_for_24_September_2010-048.mp3
Posted by Merja on September 27th, 2010 :: Filed under
General
