Sydney Market Steadier

Press, Volume CIII, Issue 30470, 18 June 1964, Page 17

Sydney Market Steadier

. (N Z. Pres* Associatton —Copyright) SYDNEY, June 17. After the substantial gains of the last two weeks the market was steadier this week on Sydney Stock Exchange although continuing to firm slightly. -Trading was maintained at active levels with a daily average of 65,000 in the investment section and. 98,000 in the mining section, while the share price index was virtually unchanged at 371.03, according to the weekly market report.

The leading section contained very few movements of bote. Those that did move Included Bank of N.S.W. which fell 2s to 63s 6d, Tooth Is 6d lower at £5 3s 6d, Drug Houses Is stronger at 50s 9d, and C.S.R. which moved up Is 9d from strong buying pressure to 87s 3d. The miscellaneous section failed to show any significant change although there were a number of stocks that showed

signs of gaining ground. John Lysaght recovered la 9d to 53s 3d, Pye Industries was up 2s 3d to 22s 9d, and R.M.C. under strong buying pressure showed a gain of 9d to 15s 6d.

After a 43 per cent gain in profit, Permewan Wright, Ltd., general merchant and station supplier, gained 2s 6d to 17s 9d.

Tooth and Company announced a profit increase of £278,000 or 14.5 per cent to £2,189,000 for the year to March 31, after slightly higher provisions for tax and depreciation. 1.C.1. Profit

LC.I. reported a profit increase of 22 per cent to £2,328,000 for the half year to March 31. 1.C.1.’s interim dividend has been maintained at 3 per cent. The mining section continued to be depressed on active trading this week.

Those to show significant falls included A.O.G. down Is 6d to 24s 6d, Associated Aust. Oil down 9d to 15s 3d, whilst the remaining Associated Group shares were a shade easier.

The silver and lead group was firmer this week, the influencing factor being Mt. Isa which moved substantially to 43s lOd.