Steady Week On Sydney Market

Press, Volume CIV, Issue 30761, 27 May 1965, Page 19

Steady Week On Sydney Market

(N.Z. Press Association—Copyright)

SYDNEY, May 26.

The Sydney market remained steady during the last week. The average daily level of turnovers for industrials was slightly lower at 413,000 but the level for mining stocks was considerably lower at 76,000.

The most active stocks traded were Coal and Allied Industries, Ampol Petroleum Is contg. Custom Credit and I.A.C. Sectional movements were fairly evenly divided between rises and falls this week. The sections to firm most were chemicals, automotive, fuel and power and base metals, while the chief downward movements came from electrical, pastoral, finance and building stocks.

Of individual price movements, Seakist lost Is 4d to 12s 9d; Overseas Corporation lost Is 3d to 10s 9d, Bushells lost 2s to 725, Burns Philp dropped 2s 3d to 74s 9d, Braemar Industries eased 6d to 5s 6d, and Amalgamated Chemicals fell Is Id to 9s. The gains of any significance were: Clifford Love, Is lid to 7s lid; Aldershot, 6d to 3s 9d; and United Holdings, 3s 3d to 355. M.L.C. recovered by 2s 6d to 87s 6d after a momentary small set-back the previous week. Clifford Love’s rise is due no doubt to the implication contained in the directors’ advice not to sell although amplification of the advice cannot be effected until July. The recent interest in sugar

stocks appears to have subsided. In the mining section, Broken Hill South dropped lOd to 23s 6d, Mount Isa rose 3d to 34s 6d, North Broken Hili rose Is to 39s 6d, Tableland had a substantial rise of 2s to 40s, and Renison also rose 2 s to 58s. United Uranium lost Is 2d to 2s.