Market Weakens Again In Sydney

Press, Volume CIV, Issue 30845, 2 September 1965, Page 18

Market Weakens Again In Sydney

• N.Z. Preu Association—Copyright/

SYDNEY, Sept 1.

The market weakened again on the Sydney Stock Exchange during the week with the share price index losing 4.7 points to 310.42, according to the weekly market report.

Average daily turnovers were also lower in both industrials at 409,000 and mining at 84,000. Sectional movements falls outnumbered rises by 12 to two.

The two rises of less than one per cent were in transport and communication, and nonferrous metals sections. The sections which recorded the main decreases were pastoral, other finance, and steel and engineering. Those stocks most actively traded were Broken Hill Pty., Amalgamated Chemicals, Colonial Sugar Refining Company, Concrete Industries and Ralph Symonds. New issues are still being announced, among them Sun Electric Consolidated, one for five. Davison Paints are making a bonus issue of one for 10.

Good results are very evident from the balance sheets being issued. Pioneer Concrete Services has received 11 per cent acceptance of its offer for Farley and Lewers shares.

Some of the principal price movements during the week were: A.W.A. down Is 9d to 29s 6d, Argo down 9d to 16s, Associated Pulp down 3s 6d to 345, A.G.C. down Is 4d to' 14s 9d, W, R. Carpenter down 3s Id to 22s lid, Consolidated Press and John Fairfax both down Is 3d to 35s 3d and 24s 3d respectively. Fire Fighting Equipment gained Is to 6s 7d, Kolotex up 6d to 13s 3d, Philip Morris down Is to 58s 9d, Union Carbide up 2s to 70s, Wlbroc up Is to 14s 9d and Yates Seeds up 2s 3d to 225.

in the mining section, C.R.A. was up Is 3d to 37s 6d, Mount Isa up 2d to 37s Bd. New and North Broken Hill lost 9d and 6d to 41s and 36s respectively. Ravenshoe was up Is to 51s. Tableland lost 4s to 435. The oil stocks, A.O.G. and Santos, lost 6d each to 22s 3d and 17s 6d.