NZX building giant ticker in Auckland

  • Breaking
  • 19/12/2013

The New Zealand exchange is making it easier for Auckland commuters to find out just how well their shares are doing.

It's building a one-metre high ticker in Britomart, which when finished will be 64 metres long.

It also forms part of NZX chief executive Tim Bennett's efforts to get more people interested in the share market.

"People will be able to see the markets 24 hours a day, seven days a week," he says.

The timing of the launch was good - Wall Street hit new highs on news the United States' central bank will scale back the amount of money it is pumping into the US economy.

"Today's policy action reflects the committee's assessment that the economy is continuing to make progress, but also that it has much farther to travel before conditions can be judged normal," says US Federal Reserve chairman Ben Bernanke.

New Zealand's economy is also making progress as it grew nearly 1.5 percent in the September quarter.

A new listing, aviation services company Airwork Holdings, gained 5 percent.

It is one of 10 new listings on the New Zealand local market this year - the NZX 50 has gained 17.9 percent.

But some analysts have been advising clients to reduce their exposure to the New Zealand market.

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source: newshub archive