Steadier Trend On Sydney’s ’Change

Press, Volume CIII, Issue 30428, 30 April 1964, Page 21

Steadier Trend On Sydney’s ’Change

(N.Z. Press' Association —Cop|/rioht>

SYDNEY, April 29.

The market steadied this, week after the considerable weakening which took place last week and the share price index moved up half a point to 366.80, says the Sydney Stock Exchange report.

Turn-over levels fell further with the daily average at 537,000 for investment stocks and only 84,000 for mining stocks.

The most active individual stocks were Deposit, and Investment and Cargo Distributors in the investment section while Oil Search was the most traded of mining stocks. Deposit and' Investment, in particular, traded, very heavily -with a turn-over of 146,000 for the week. The shares in Deposit and Investment have recovered from 5s 2d to 6s lOd following the statement from the company that no liquidity problem existed and that a 10 per cent dividend would be paid this year.

Sectional movements were mixed, those to improve most were banks and transport while base metals and fuel, light and power stocks were the most prominent of the sections to weaken. Leading stocks were ir-

regular. Bank of New South Wales recovered 3s 3d of recent losses to 64s 6d, Drug Houses fell 3s to 50s 6d, C.S.R. lost 2s 6d to 80s and British Tobacco improved Is 9d to 29s 9d. ‘ B.H. South’s Profit

Of company news this week, Broken Hill South reported that if present conditions continue it. expects consolidated net profit to be about £l.Bm for the year to June 30.

Lindeman (Holdings), Ltd., announced a two-for-five bonus issue and Pioneer Concrete Services will make a bne-for-four issue of 5s shares at a premium of 7s 6d a share.

In the mining section, the main movements came from Mary Kathleen Uranium which fell 4s 6d to Ils, Santos down Is 9d to 20s and Associated Oil Is lower at 18s 6d.