COMMERCIAL Adverse Reports Affect Declining N.Z. Market
Adverse company and industry reports accelerated the decline on the New Zealand market yesterday and falls outnumbered rises by more than five-to-one. News of fall-off in demand for television sets and the passing of an interim dividend by Pye pulled Bell down 4s to 28s after losing Is the day before, while Autocrat lost 9d to 12s. There were no sales of Pye but in Christchurch sellers were asking 15s in the afternoon and buyers 10s 6d at the morning call. Von Kohorn, or as it is now called, Enzlon, dropped 3d to 4s 9d in Wellington and to 4s 6d in Auckland on its announcement of difficulties with liquidity and sales. These shares, however, have been falling for three weeks.
Mining shares were easier after similar adjustments on the Australian market on Tuesday.
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Press, Volume CIV, Issue 30911, 18 November 1965, Page 21
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141COMMERCIAL Adverse Reports Affect Declining N.Z. Market Press, Volume CIV, Issue 30911, 18 November 1965, Page 21
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