BULLISH MARKET

Auckland Star, Volume LXXVI, Issue 201, 25 August 1945, Page 3

BULLISH MARKET

INVESTMENT GAINS 1 EXPANSION IN TURNOVER A strong buying wave affecting nearly all classes of securities has been the main reaction on the investment market during the first week of peace. It set in on Monday, when many sellers closed with offers substantially above late rates, and a long series of gains was listed. Support was firmer for the majority of leading shares, including Australian industrials, New Zealand prices for which arp now well above Sydney ceilings. HMvever, towards the close there were indications of some selling pressure Overseas banking shares began" to weaken with the change of Government in Britain and recent announcements of the projected nationalisation of the Bank of England evidently had some bearing on further recessions this week. Since earlier this month Australasias and Commercials of Australia have moved back, Nationals of New Zealand yesterday realised £2 15/0 against £2 18/ last month, and Unions were sold at £S 6/ compared with £S 8/9 in June. Retail stores, breweries, shipping and New Zealand manpfacturing shares were embraced in the upward trend, but limitation in offerings generally acted as a brake, and brokers were usually left with only a fraction of requirements in hand. Larger quantities of Government loans were available, but demand was unflagging, with the result that values for all categories rose further. This week's business, compared with the previous week's figures in parentheses, was as follows:—Government loans, £21,230 (£7760); local body debentures, £1000 (nil); commercial debentures, £700 (£438); banks. 2422 shares (3966); insurance. 1200 (700); loan and agency, 1073 (900); coal, nil (200); gas, 726 (2519); shipping, 500 (100); woollens, 100 (nil); breweries, SOO (350); meat, 200 (nil); miscellaneous, 11,351 (0435). TREND OP THE MARKET The following table gives the prices of the various securities a year ago, the current price or nearest quotation, and the yield .which, :n the case of loans, includes redemption:— BANKS Yield on latest Aug. 25 Aujr. 24 price 1944 1943 or quote £ s d £sd £ s d Commercial 10 38 8 0 18 3 3 17 7 National, N. 2. 2 15 0 2 15 9 2 16 8 New South Wales 36 5 0 34 10 0 3 10 7 New Zealand 2 4 9 2 10 6 2 15 5 MISCELLANEOUS £sd£s d £ s d N.Z. Insurance . 4 10 0 4 18 6 2 10 9 South British 400 4 10 9 242 A.C.I 2 17 6 2 17 0 2 9 1 Broken Hill Pty. . 243 279 21 10 Reid Rubber .. 176 1 14 9 391 Mount Lyell 1 11 0 18 1 t Auckland Gas ..•080 0 7 7'i 3 18 9 Farmers' Trading 1-69 183 310 10 Dom. Breweries . 250 2 13 0 3 11 8 N.Z. Breweries .. 2 2 7 G. J. Coles .... 360 3 13 0 2 14 9 Wilsons Cement . 019 6 1101 12 1 Colonial Sugar . 58 10 0 60 15 0 2 12 5 Woolworths— New Zealand .. 110 159 266 Sydney 110 159 266 GOVERNMENT STOCK £ s d £sd £ s d 1952-55, 4 p.c. ..106 0 0 *105 15 0 3 1 9 1953, 2\'z P.c. .. 95 0 0 96 10 0 3 1 6 1953-57, 3 x /2 P.c. .. 102 0 102 10 0 3 1 9 1952-55, 3 p.c. .. 99 2 6 100 26 3 • * Buyers, t Sellers. % Interim dividend passed.

SALES COMPLETED Sales completed on the Auckland Stock Exchange at the 3 p.m. call yesterday, with variations from previous sales in parentheses, are:—loo Com. Bank, 18/3; 200 Bank of New Zealand, £2 10,6; 50 New Zealand Insurance, £4 18/6; 100 Carlton Brewery, £3 12/; 100 Dominion Brewery, £2 13/; 100 A.C.1., £2 17/; 150 British Tobacco, £2 8/9; 300 Fletcher Holdings, £1 13/3; 205 Frozen Products, £1 0/6; 300 M. and C. deb., £1 10/9 ( + 3d); 100 Morts Dock, £1 6/ ( + 6d); 700 Moturoa Oμ pref., 1/6 ( —6d); 90 Peters Ice, £1 7/; 200 Mount Morgan, 8/3; £200 stock. 15/4/56-59, 3 p.c. £99 7/6 ( + 2/6); £1255 stock 15/5/49-52, 4 p.c, £104; 50 Nat. Savings Bonds, 20/6/48, £1 0/6 ( + ld); 50 ditto, 10/7/48, £1 0/6.