Sydney Stocks Active In Budget Week

Press, Volume CI, Issue 29896, 9 August 1962, Page 17

Sydney Stocks Active In Budget Week

(N.Z. Press Association—Copyright)

SYDNEY. August 8. Tiie pre-Budget week is usually a dull, uncertain one an Australian stock exchanges but this year turnovers increased and the market regained some of the ground lost in recent weeks. The Sydney share price index rose 4.58 paints to 294.63 in the four trading days to Tuesday. August 7 (Monday was Sydney Bank Holiday) after the previous week’s 3.06 fall.

The deficit Budget, which largely maintained the status quo. was widely anticipated.

|On Wednesday the market steadied noticeably with leaders ' inclined to weaken, particularly in late afternoon trading. Most leaders steadily improved through the week. C.S.R. made a notable recovery but was no exception to the weakness on Wednesday. C.S.R.'s shares and rights had both fatten well below the theoretical value indicated by the last cum rights price. On Tuesday the shares rose to 50s 3d and the rights, with 30s to pay, to 19s. On Wednesday. the shares dropped to 49s 3d and the rights to 18s fid. B.H.P. rose as high as 57s 6d but faded to 53s 6d. News of A.O.G.’s further success, this time at Moonie No. 5. was very soberly received. and the shares actually lost 2s over the week.