Brighter Trading In Melbourne

Press, Volume CIV, Issue 30687, 1 March 1965, Page 18

Brighter Trading In Melbourne

(N.Z. Press Association —Copyright)

MELBOURNE, February 26.

Leading industrials were on the firmer side of the market this week and some good recoveries were registered towards the close. Trading brightened on the last day in Melbourne with rises in excess of falls on the day for the first time in the period. Overall, the market ruled barely steady for the most part.

Key stock, B.H.P. finished at 545, a gain of Is 6d on the week after selling to 54s 9d. Colonial Sugar regained ground lost earlier to close at 655. Base metals and oils were irregular and finished lower on the week.

At Mt. Isa negotiations are still proceeding for a full scale resumption of operations but the number of employees reporting for duty has been small. The shares closed on Friday morning at 345, a fall of Is 8d for the week. Good Gains

Good gains were shown in the steel and electrical industries sections of the Sydney index while other sections lost ground.

I.A.C. Holdings, hire purchase financier, reported a profit for the year to December of £2.lm (down 5 per cent). A further 1.6 million

shares in the company have been issued to the A.N.Z. Bank, which now holds a 20 per cent interest. General Credits Ltd., manufacturers of builders’ supplies and electrical goods, reported a further improvement in profit to £476,000 after tax (up 180 per cent). Annual dividend was doubled at 5 per cent. Good Reports

E.Z. Industries, Ltd.; reported substantially higher revenue and profit for the half-year to January 13, reflecting improved, prices for lead and zinc. Interim dividend was raised by 1 per cent to 4 per cent. Cyclone Company of Australia. Ltd, reported greatly improved results for the halfyear to December with a profit of £630,000 prior to tax, as compared with £769,000 in the full year to June, 1964. Interim dividend was raised by 1 per cent to 5 per cent.

OVERSEAS ORDERS

Value Doun In January

Overseas orders placed by surveyed firms during January were 17 per cent down on orders placed in January last year, according to the Government Statistician (Mr J. V. T. Baker). The survey, which covers about half of private imports, shows that orders valued at £9m were placed in January against £10.9m the year before and £7.7m. in January, 1962.

In the six months to the end of January, orders valued at £78.1m were placed, or 1 per cent lower than the value of £79m for the same period last year. Payments made in this six months totalled £75.3m or 5 per cent less than the £79.3m paid in the same period last year.

Monthly Average If the pattern follows that of previous years, private import payments will average £23.2m a month from February to April and £25.8m a month from May to July. / Last year’s corresponding averages were £22.4m and £25.5m.

METALS

(N.Z.PA.-Reuter—Copyright) LONDON, February 26. Latest London Metal Exchange prices for spot supplies are as follows:

Buyer a ton Sellers a ton £ s d £ g d Copper . 3S5 0 0 390 0 0 Lead . 149 0 0 150 0 0 Tin . 1230 0 0 1235 0 0 Zinc . 112 0 0 111 •p 0