Commercial News

Auckland Star, Volume LXXVI, Issue 29, 3 February 1945, Page 3

Commercial News

WEEK REVIEWED 1

SHAREMARKET STRONG $ ACTIVITY IX AUSTRALIANS Although trading on the Auckland Stock Exchange was confined to four days this week, the turnover was sizeable, and investors had a better opportunity of assessing the market. It proved a strong and buoyant market and, above all, a seller's market. Inquiries covered an extensive field, and any preparation for early taxation commitments was certainly not reflected in the demand for stocks and shares of all kinds. . One of the features this week has been the increased attention paid to frontrank Australian securities. It is a long time since dealing in these lines has been active, and it seems clear that buyers have been impressed with 1944 balancesheet results, and also have an eye to post-war developments. Resumption of world trade and the loosening of controls will, of course, react more favourably on. some classes of shares than others. Improved prospects for shipping companies and retail stores, among others, are reflected by recent interest in Huddart Parkers, Howard Smiths, P. and O. slock, Felt and Textiles, and also In the firming of shares in the Woolwortli group. Further evidence of the way the wind is blowing might be found in persistent inquiry for Dunlop Rubbers, with no sellers in sight, in firming in British Tobaccos, and in the first sale locally of Guinea Airways.

Apart from movement in Bank of New Zealand ordinary shares, which failed to hold the sharp rise to £2 7/9, banking issues have been quiet, while insurances have been slower than usual, though demand here remains unflagging.

Business in New Zealand shares was much below the average, due to sellers' comparative indifference as much as to the holiday on Monday. In common with retail stores registered in Australia, Dominion companies' scrip enjoyed keen inquiry. all d Woolworths (N.Z.) 5/ shares mounted to £1 11, the best price for many years. On the other hand, the Sydney issue, which carries the same dividend now, stayed at £1 1/. Auckland Gas made a further gain, and are .not much below last year's high. Buyeis returned for one or two woollens, aria breweries advanced to stronger levels. Steady support was accorded coals and timbers, but little business res "",«J-. , Government stocks were model ately busy, but 2 J per cents, usually most active, were in fairly short supply. Values were firm all through, and dealings in 4 ner cents were more numerous than, tor a lengthy period. Holders of municipal debentures tested the market on some days, but evinced no anxiety to liquidate. LATEST SALES Sales since last review are:— (2)- Union, £8. Tf"f/ ra S IS? A&& £1 1/6- Aus"Gypsum. £1 1/; Broken Hill FW.. £2 4/3; cSloilS sS. £57 %): Howard Smith. Mining.—MU Well, £19/ (2>; Martha. 9/2. Dominion—Auckland Gas, 7/9 (2). 7/10: Reid Rubber. £1 9/ (5); N.Z. Refrig £°?->i"/11. &&£*»%*«& §h' $§*\%\ SW'A 9 / £ 3 2 ( 3) e ; /4 & : a r ß S! t -£l £ i/6 1 ' 3 ( / 2 : ); US Breweries, £2 3/3.

Loans and Debentures.—Stock. Iftcember 195356. 3 P.c, £98; 1955-58. 3 p.c. £98 3/6 (5): 1953-57, 3',2 p.c, £101 12/6 (2); May. 1953-56, 3 pxf. £9* 1953 2','= P-C £94 12/6 (2): 1952-55. 4 p.c, £104 12/6: 1952-55, 3 p.c. £98 15/(2): 1946-49, 4 p.c, £101 ■Wβ; 1949-52, 4 p.c, £103 5/ Rural Bonds. 1947, 4 p.c, £103. Unofficial.—Whakatane Paper (deb.). £95; National Tobacco, £1 15/ (3). TREND OP THE MARKET The following table gives the prices of various securities a year ago, the current price or nearest quotation, and the yield which, in the case of loans, includes redemption:— BANKS Yield en latest F9b. 4 Feb. 2 Price 1944 1945 or quote. £sd £sd £sd Commercial 017 9 »o 17 4 317 l National, N.Z. ... 215 0 2116 21» 6 New South Wales .. »34 0 0 t34 0 0 3 0 1 New Zealand 233 273 2 19 4 MISCELLANEOUS N.Z. Insurance .... J4 9 6 i»4 8 0 2 16,10 South British 3 16 6 3 18 3 2 11 1 A.C.I 215 6 t2 19 0 2 511 Broken Hill Pty. .. *2 5 6 243 253 Reid Rubber 193 190 4 S Mt. Lyell '110 0 19 0 53 5 Auckland Gas 073 07 10 3 16 8 Farmers' Trading . *1 5 6 3 Iβ 2 Dom. Breweries .... 230 269 3 17 0 N.Z. Breweries »2 0 6 233 349 G J Coles 340 386 2 18 4 Wilsons Cement . . 019 6 *0 18 6 2 9 6 Colonial Sugar .... 59 0 0 57 0 0 2161 Woolworths— New Zealand ... to 18 0 12 0 2 14 6 Sydney 019 6 110 217 2 GOVERNMENT STOCK 1952-55, 4 p.c 106 0 0 104 12 6 3 4 6 1953, 2',i p.c 95 2 6 94 12 6 3 6 3 1953-57, 3',4 p.c. .. 103 0 0 101 12 6 3 4 6 1952-55, 3 p.c 100 0 0 98 15 0 3 4 6 •Buyers. tSellers. tEx dividend. SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday, with previous sales, where changed, in parentheses, are:—Dominion Breweries, £2 6/9 (£2 6/4", 2 ); Reid Rubber, £1 9/; Woolworths Properties. £1 9/3 (£1 9/6); Stock, 15/12/53-56, 3 p.c, £98; 15/2/55-58. 3 p.c, £98 2/6; 31/5/54-58. 4 p.c. £108 (£lO5 10/).