Steady Week On Sydney Exchange

Press, Volume CIV, Issue 30827, 12 August 1965, Page 17

Steady Week On Sydney Exchange

(N.Z. Press Association—Copyright)

SYDNEY, August 11.

During the week the Sydney Stock Exchange market remained steady over-all with the share price index being 318.40 against 318.18 last week.

The average daily turnover in industrials was slightly higher at 391,000 and mining rose to 96,000. In the sections, five remained steady with movements of less than half of 1 per cent and five fluctuated up to 1 per cent. Of the remainder, the larger rises occurred in pastoral, food, drink and tobacco and chem 7 ical, glass and paper sections. Those stocks most actively traded were Ampol Petroleum, Coles, Commonwealth

- and Industrial Gases rights s and Yates Seeds. 1 A. J. Benjamin ordinary shares are to be removed • from the official list on Aug- • ust 16 but the unsecured I notes are to remain. I The proposal of Pioneer • Concrete Services to take ■ over Farley and Lewers is , still in the news. Latest der velopments are a statement . from Farley and Lewers that ■ legal advice says the offer - does not comply with section i 184 of the Companies Act, 1961, and is illegal and void. Pioneer Concrete Services states that a senior and junior counsels’ opinion is that the offer is not void and may be accepted by shareholders. Principal Movements , Among the principal move- ’ ments during the week were: William Adams, down 9d to ’ 31s 9d: Brickworks shares . and notes, up 7s and 9s to 75s and 74s respectively; Burns . Philp, down 2s to 765: C.1.G., i up Is to 355: Consolidated ■ Press, down Is 3d to 36s 6d: Emu Gravel, down 5s to 95s i and Yates Seeds, up Is 6d to . 20s fid. In the mining section, . C.R.A. remained steady at 35s . 6d; Mt. Isa rose 6d to 36s 6d; . North Broken Hill rose lOd ’ to 37s 7d; New Broken lost I 9d to 40s 6d, and Ravenshoe • rose 6d to 48s. A.O.G. lost 9d to 23s and Santos lost 3d to 18s 9d.