SYDNEY STOCKS

Press, Volume CI, Issue 29872, 12 July 1962, Page 15

SYDNEY STOCKS

Drab. Dull Week

<N.Z. Prezs Assn.— Copyright)

SYDNEY, July il. Trading was unusually drab and uninteresting on the Sydney Stock Exchange this week after the previous week's spirited rally, the exchange reported today. For the first six trading days of the new financial year, the share price index fluctuated within the exceptionally narrow range of .24 —between 29423 and 204.47. The market reacted on Tuesday, July 10. and the index dropped 2.07 points to 202.31. The market staged a slight recovery on Wednesday, but the rally was not widespread. Australian Oil and Gas continues to be a disappointment in the market. Fall From 60s to 48s A. sold over 60s on news of the oil strike at Moonie No. 4, but has since faded to as low as 48s on Monday before recovering to around 52s on Wednesday. Santos has been particularly active in recent weeks, with sales up to 18s. In spite of the news that Compagnie Francaise des Petroles, the parent company of Total Oil Australia, will subscribe for 1,000.000 special 16s ordinary shares, Santos drifted to 13s 9d. B. has sold around 58s except for a drop to 57s on Tuesday. C.S.R. failed to hold the £6O mark and has edged back to £5B 10s. The very difficult conditions in the Australian whaling industry have led to Whale Industries dropping to 3s 6d. its first sale below par. M.L.C., Ltd., a new holding company for the M.L.C. Assurance Company, recorded first sales at £7.