SYDNEY STOCKS

Press, Volume C, Issue 29672, 16 November 1961, Page 19

SYDNEY STOCKS

Steady Tone Of Prices (N-Z. Press Assn.—CopwriohU SYDNEY, NW .Mt Share prices were steadier on the Sydney Stock Exchange this week -after the good gains of the previous week, the exchange reported today.

The ordinary share price index lost 0.88 points to Wi.Bs in the week to Tuesday, with only small day-to-day variations. Before this the index had risen 5.67 to 301.74 in eight successive-rises. B.H.P. moved up 6d to 71s and then remained at this level. C.SJi. fell back 30s to £6l. Henry Jones eased to 71s but quickly recovered to 745.

John Lysaght, which had risen to 69s 6d soon reached to 655. Shipping Newspapers continued its remarkable rise from below 70s to reach 90s but by the week’s dose had fallen back to around 86s. Directors of Shipping Newspapers have denied any knowledge of a takeover. Australian Motor Industries had fallen to 2s 3d on news of the £2,250,000 loss but this week rose to 3s 3d. Cahill Holdings, the Sydney restaurant chain, were added to the list. These shares, which were placed at 6s, had first sales below this level but rose to 6s 2d. .Greens products were slightly firmer on receipt of an involved takeover offer from Dodge Consolidated and Milton Investments. Ansett had weakened to 5s before announcement of its results but rose to 6s when they were announced. Disappointing results were revealed by Ernest Hiller, Carapark, George Hudson, Australian Cash Orders and Nock and Kirby. Consolidated Zinc and New Broken Hill fell sharply on news of lower interim dividends. Rights to the new issues by the Alcoa Partners were again heavily traded although they were even more active in Melbourne. A gas show in Ampol Exploration’s Eneabba No. 1 weH saw the shares rise from 3s to almost 12s but the shares fell back to below 10s.