COMMERCIAL SHAREMARKETS OVERSEAS

Press, Volume XCV, Issue 28167, 4 January 1957, Page 5

COMMERCIAL SHAREMARKETS OVERSEAS

Strong Finish To Year

The New York and London sharemarkets closed the year on a strong note after making marked recoveries during December. Both markets, however, lacked buoyancy.

In New York, the Dow Jones index of industrial share prices closed the year at 499.47—a net increase of slightly more than 11 points, or 2.3 per cent., from the closing level for 1955. By contrast, tne index rose 84 points, or 20.8 per cent., in 1955.

In London, the Financial Times index of industrial ordinary shares closed on December 31 at 178.8—a decline of nearly 22 points, or 10.8 per cent., for the year. In 1955. the index showed a gain of 8.8 per cent. The course of share indices on the two markets is:— London.— Financial Times: Indus, ord. (1936 equals 100): Govt, and gold (1929 equals 100); Indust.ord Govt. Gold. Sept. 27 .. 180.6 83.52 78.8 Oct. 31 .. 175.1 84.10 72.7 Nov. 30 .. 163.5 82.38 71 1 Dec. 17 .. 175.2 83.04 78.3 Dec. 18 .. 174.5 83.00 78.7 Dec. 19 .. 174.3 83.23 78.5 Dec. 20 .. 176.1 83.39 77.2 Dec. 21 .. 177.4 83.62 77.5 Dec. 24 .. 177.4 83.74 77.7 Dec. 27 .. 177.9 83.93 78.2 Dec. 28 .. 178.2 84.10 78.3 Dec. 31 .. 178.8 84.74 78.7 Jan. 2 .. 180.4 85.13 77.6 New York.— Dow Jones. Shares , Rails. Indus. Sold. Sept. 28 .. 154.01 475.25 1,720,000 Oct. 31 .. 155.93 479.85 2,280,000 Nov. 30 .. 151.02 472.78'2,300,000 Dec. 13 .. 155.97 490.47 2,370,000 Dec. 14 .. 155.24 492.08 2,450.000 Dec. 18 .. 154.45 495.09 2,370,000 Dec. 26 .. 152.74 496.74 2,440.000 Dec. 27 .. 153.34 496.38 2,420,000 Dec. 23 .. 153.56 496.41 2,790.000 Jan. 2 .. 153.52 496.03 1,960,000 OVERSEAS EXCHANGES SYDNEY The Sydney Stock Exchange resumed trading yesterday and started the year on a firm note. Leading industrials were firm, textiles very steady, Commonwealth loans firm, metals very steady, oils firm, and uraniums improving. Sales.—Nat. (20s paid), 345; Bank N.S.W., £35: Tooheys. 245; Tooths, 48s; A.W.A. (5s paid), 9s lOd; British Tobacco. 34s 3d; Broken Hill Propy., 45s 6d; Burns Philp, 525: Colonial Sugar, £42 10s; David Jones, 565: Drug Houses, 30s; Dunlop, 355; Electro. Zinc, 67s 9d: Email (ex bonus). 8s 4d; Gen. Industries, 21s 4Jd; Goldsborough, Mort. 345; Henry Jones, 52s 9d; 48s; Morts Dock. 12s 6d; Waltons, 15s. l£d; Winchcombe, 44s 3d; Mount Isa. 33s 9d; North Broken Hill, £6 17s 6d; South Broken Hill, 84s; Ampol Petroleum, 12s 3d; Amool Exploration. 15s 9d; Associated Oil, lid; Associated Freney, Is IJd; A.0.E., paid, 4s lid; Oil Search, rights, 6s 7d; Emperor, 7s; Mount Morgan, 21s 3d; New Guinea Gold, Is lid; Peko, 9s; N.A.U.C., 6s 4d; Uranium Mines, 13s 3d.

MELBOURNE The investment market of the Melbourne Stock Exchange opened on a firm note yesterday. Leading stocks to rise included Electro. Zinc, which rose by 2s. and A.C.I. which rose Is 3d. Other moves were mainly small, but on the whole, rises in value well exceeded falls. Trading generally was quiet. Mining stocks were firmer. Consol. Zinc rose Is 9d. while in the oil group Santos rose 2s. Uraniums rose also. Commonwealth loans held around steady rates on a moderate turnover.

Sales.—Broken Hill South, 84s; Consol. Zinc, 945; Mount Isa, 33s 9d; North Broken Hill. 1375; N.A.U.C., 6s 6d: South Alligator, 3s 7d; Uranium Mines. 13s 3d; Mount Morgan, 21s: Ampol Exploration, 15s 6d; Oil Search, Ils 7d. and rights, 6s 8d; Santos, 8s; Woodside, 4s 6d, and contrib., 2s 2d; ‘Commercial Bank. 17s 9d; Carlton Brewery, 19s 9d; A.W.A., 9s lid; G. J. Coles, 18s 9d; Myer, 15s 6d; Woolworths. 17s: Ampol, 12s 2d, and 4s paid. 10s 3d; A. 57s 3d; A.P.M.. 245, and pref., 19s 3d; Associated Pulp, 33s 3d; B. 45s 4d; Drug Houses, 30s: Dunlop. 355; Electro. Zinc, 68s, and nref.. 68s: Felt and Textiles. 23s 6d; Heralds. 235; 1.C.1.. 48s; Kauri Timber, 26s 6d; N.Z. Forest. 225; Olympic, 7s 2d; Patons, 28s 6d.

LONDON QUOTATIONS (N.Z. Press Association—Copyright) LONDON. January 1. Quotations for banks and debentures are:—Australia and New Zealand Bank, 34s 10£d; Commercial Bank of Australia, buyers 13s 3d, sellers 14s 3d; E., S., and A. Bank, •£7 2s 9d; National Bank of Aus-, tralia, *26s 7Jd; Bank of New South Wales, *£2B 3s 8d; British Tobacco, buyers 25s 9d, sellers 26s 9d; Goldsbrough. Mort, buyers 255. sellers 265; Dalgetv. buyers 10s 6d, sellers Us 6d: National Bank of New Zealand. buyers 32s 6d, sellers 345: Australian Mercantile, Land, and Finance, buyers £77, sellers £79: Dalgety, 4 per cent.. 1975-80. buyers £77. sellers £79; New Zealand Loan and Mercantile, ord.. 4 per cent., buyers £63, sellers £65: New Zealand Loan and Mercantile, ord. stock, buyers 20s 6d, sellers 21s 6d; P. and O. deferred (middle price), 335. ♦Sales, N,Z. Butter Drops 10/- In London (New Zealand Press Association) WELLINGTON. January 3. The London office of the New Zealand Dairy Products Marketing Commission advises that on January 2 the market for New Zealand finest grade butter opened at 266 s a hundredweight ex store. London; a drop of 10s a hundredweight since Christmas. The choicest Australian butter is currently quoted at 264 s a hundredweight, while Danish butter, which has been selling at about 421 s a hundredweight ex quay since the end of September, has now been heavily reduced, and is quoted at approximately 341 s a hundredweight ex quay, a drop of 80s a hundredweight since Christmas.

The cheese market is also weaker, with finest New Zealand white waxed cheese now being quoted at 253 s a hundredweight. Australian cheese is quoted nominally at 10s a hundredweight less, while home-produced Cheddars and Cheshires remain unchanged at about 255 s and 235 s a hundredweight respectively.

LONDON MINING QUOTATIONS iN.Z. Press Association —Copyrtgnt) LONDON, Jan. 1. Mining quotations are:— Broken Hill North. 105 s 9d;, Broken Hill South. 63s 9d; Consoldiated Zinc, 72s 7Jd: Electrolytic Zinc. 52s 6d: New Broken Hill. 50s 6d; Mt. Isa, 265; New Guinea Goldfields, Is 5Jd. Mining Stock in London.— Sales of mining stock on the London Stock Exchange were quoted today as: Broken Hill North, 105 s; Consolidated Zinc., ord., 73s lOld; New Broken Hill. 50s 6d; Mount Lyell, 23s 6d; Mount Isa, 26s 6d. —Londpn, January 3.