Trading Quieter In Australia

Press, Volume CIV, Issue 30823, 7 August 1965, Page 20

Trading Quieter In Australia

(N.Z. Press Association— Copyright)

MELBOURNE, August 6.

Trading on Australian stock exchanges was at its quietest level for months during the last week, according to the weekly market reports.

Investors seem content to await the outcome of the Budget on Tuesday week and there appears no prospect of any revived activity in the meantime. There has been little change in prices. Some sharp moves in isolated cases were registered following announcements from the respective companies. After a sale of 100,000 Herald shares in Melbourne at Is 9d below the ruling market, sellers offered the stock at lower levels. Commonwealth Industrial Gases rights were among the busiest issues, investors showing keenness to secure a holding at slightly higher prices. Sydney all ordinaries index lost .88 and Melbourne leaders .02 in the week to Thursday. Company Reports Daily moves were: Sydney. 318.27, holiday, 318.18, 318.41, 318.14. Melbourne. —104.73, 104.57, 104.67, 104.74. Most sections of the Sydney index finished narrowly around last week’s levels, but noteworthy gains were shown in electrical and automotive industries. More buoyant company reports came to hand, suggest-

ing that the last 12 months has been a most successful trading period. Bendigo TV lifted profit from £20,000 to £60,000 and Ballarat TV lifted earnings from £24,000 to £56,800. Shares in the television and broadcasting groups showed a favourable reaction. Profit of Cascade Brewery was 9 per cent higher at £299,000. Mt. Lyell raised its dividend from 7 1-3 per cent to 10 per cent after a £35,000 gain in earnings to £616,000 and Renison's dividend was increased from 12) per cent to 20 per cent following the announcement of a profit of £122,700. Davies Coop had a 77 per cent gain in earnings to £501,000 and Carlton Brewery has raised its interim payout from 5 to 6 per cent.