Sydney Began New Year On Optimistic Note

Press, Volume CII, Issue 30026, 10 January 1963, Page 13

Sydney Began New Year On Optimistic Note

(N.Z. Pres* Association—Copgright)

SYDNEY, January 9. ket the Barrier (Broken

The Sydney Stock Exchange market has begun the new year on a particularly firm and optimistic note, according to the market review. The bright finish last year gave promise of a much more buoyant market in 1963. Up till Tuesday the share price index had gained 9.36 points in 11 successive daily rises. The market was steadier, but still strong on Wednesday. Investment turnovers were only moderate in the first few trading days of the year, but have since expanded. Mining turnovers continue to be well above average, with oil shares still dominating this section of the market. Leading stocks have performed very well. C.S.R. has reacted slightly after a particularly strong advance in December. Other sugar stocks have also made significant, rises. Proposal Abandoned The Bitumen and Oil-H. C. Sleigh merger proposal has been abandoned. Bitumen and Oil has since risen, but H. C. Sleigh has slipped back.

A.O.G. and the Associated Oil group held their ground well, and on Wednesday made a further improvement. In the general mining mar-

Hill) stocks have been unusually firm, while CR.A. has received a good deal of attention.

Issue Completed.—The issue of 512.800 new £1 share* by the Commercial Banldnf Company of Sydney. Ltd., announced on May 31 last year has now been completed. Issued and paid capital of the company is now £8500,000.—(PA.)