U.E.B. Fall Balances Advance By R. And G.
Market reaction to confirmation that United Empire Box was the bidder for Ross and Glendining was reflected in share prices yesterday: U.E. Box lost Is to 10s 9d. while Ross and Glendining gained Is to 12s in Auckland with Christchurch sales at 13s.
Turn-over in both stocks was brisk and fluctuations marked as investors tried to make up their minds about the value of the offer. Auckland’s closing price of 10s 9d for U.E. Box shares made the offer worth £2.29m at the end of yesterday’s trading.
Over-all the market was firm yesterday with New Zealand stocks trading over a wider range. Rises outnumbered falls two to one. Leaders followed the same trend. Further gains were made by Australian Consolidated Industries, up 9d to 49s 6d, and Tasman, up 9d to 56s 6d. G. J. Coles, H. C. Sleigh, Rothmans, Winstone, Woolworths and Mount Isa also gained further ground.
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Press, Volume CV, Issue 31028, 6 April 1966, Page 21
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157U.E.B. Fall Balances Advance By R. And G. Press, Volume CV, Issue 31028, 6 April 1966, Page 21
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