Sydney Market Recovers From Brief Decline

Press, Volume CIII, Issue 30364, 13 February 1964, Page 17

Sydney Market Recovers From Brief Decline

(N.Z: Press Association—Copyright)

SYDNEY, February 12. The market recovered from its brief decline and was firm on the Sydney Stock Exchange this week, according to the weekly market report.

The share price index showed a gain of 4.18 points to 373.65. Trading Was slightly reduced although continuing to be quite active, industrial turnover was 680,000 daily and mining 108.000 daily. Leading stocks were once again the influencing factor in the market rise. B.H.P. was to the forefront when it jumped Is 9d to 58s 6d, Burns Philp recovered 4s 9d to 995, A.C.I. at 67s showed a gain of Is 6d, as did W R. Carpenter at 38s and National Consolidated and Repco had rises in excess of 2s.

The sugar group tended to fluctuate with leading stock C.S.R. and Pioneer Sugar gaining ground whilst Millaquin, Fairymead and Gibson and Howes fell back. The miscellaneous section was uneven although there 'were! few outstanding price variations. Those to move were C.I.G. up 4s to £5 3s, Grace Brothers and Mauri Brothers rose Is 6d to 225,

and Keith Harris at 34s 3d was 2s 6d higher. Dunlop announced an increase of 5 per cent turnover for the group for the first half year. Interim net profit was • £1.316.782 after providing taxation of £868,340 and depreciation £676,870. • An interim dividend of 4 1/12 per cent will be paid by the company. The shares in response to this news rose 6s 9d to 48s. The mining market was uneven on slightly increased trading this week. In the silver-lead . group Mount Isa mines was up Is to 39s 6d. New Broken Hill recovered 2s 6d to 70s 6d and North Broken Hill fully paid shares lost Is'3d to 365. Oil stocks ■ were . virtually unchanged, and in the miscellaneous section C.R-A. slipped back Is to 28s 6d.