Week Again Quiet On Aust. Market

Press, Volume CIV, Issue 30769, 5 June 1965, Page 20

Week Again Quiet On Aust. Market

(N.Z. Press Association —Copyright)

MELBOURNE, June 4.

Trading on the Australian Stock Exchanges for the week was again quiet, but finished on a more optimistic and brisker note. Metal stocks, and, in particular, tin stocks, continued to receive good support and their prices firmed generally, according to the weekly market report.

The number of rises for the week was slightly higher than falls. Turnover improved. Both the Sydney all-ordi-naries index and Melbourne leaders index gained about a point in the week to Thursday Most sections of the Sydney index showed small gains

but a notable loss was shown in finance companies. Mt. Isa has forecast an accelerated return to full production from a rapid labour build-up. In response, its shares advanced appreciably. Concrete Industries (Monier), which so far had a 25 per cent interest in the joint venture of Hardeman-Monier-Hutcherson in the V.L.F. radio base project at Northwest Cape in Western Australia. has taken over full sponsorship and management responsibilities. Cottees announced a record profit of £215,905, returning 34.1 per cent on capital. S.A. Brewing Company also disclosed a record profit of £618,914, while an interim report released by British Tobacco showed encouraging profit prospects. Significant moves in share; prices for the week included: I Mount Isa, up 2s 6d to 375; Renison, up 3s to 645; Greenbushes, up Is Id to 9s 4d: M.L.C., down 5s to 80s; and Allan Holding, up 2s 3d to 225.