Oil Deals Heavy In Australia

Press, Volume CVI, Issue 31090, 20 June 1966, Page 17

Oil Deals Heavy In Australia

(N.Z. Press Association—Copyright) MELBOURNE, June 19. Heavy dealing in oil shares was the main feature of trading on the Australian stock exchanges last week. Turn-over in oils exceeded half a million shares on each of three days in Melbourne and with the addition of industrial share sales, total turn-over exceeded one million shares each day, according to the weekly market report.

When the market opened on Tuesday, there were rises in 25 oil stocks and only one fall.

The index for the group jumped to its highest level for the year at 141.45. Heavy profit-taking on Wednesday sent prices tumbling and the index lost five points, but a partial recovery was made towards the end of trading. There was steady trade in industrial shares and prices were slightly firmer. Base metals were much stronger. Sydney all-ordinaries index moved up nearly four points and Melbourne leaders just under two points in the week to Thursday. Daily moves were: Sydney, 323.09, holiday, 324.13, 324.99, 325.77. Melbourne, 107.95, holiday, 108.53, 108.72, 108.92. Building and transport industries, and base metals led the rises in the Sydney index while automotives and textiles declined slightly. Colonial Sugar announced a profit of 12.9 m dollars against 13m dollars last year. Dividend is being held at 12} per cent for the third successive year. 1.C.1.A.N.Z. announced a steady half-yearly profit and maintained interim dividend. Vealls Securities is closing five stores in Melbourne. Turn-over of Vulcan Industries is considerably higher than in the previous year and the road transport group, T.N.T., is expecting a takeover offer. A fourth gas flow has been reported by the Delhi-Santos group from the Moomba No. 2 well in South Australia. IN BRIEF Truth Final.—Truth (N.Z.) ordinary share final dividend of 6J per cent, making 10J per cent for the year, has been recommended by the directors. It is payable on July 29 and ex dividend June 23.—(P.A.) C.P.D. B Dl*.—Cable Price Downer dividend on B ordinary shares is If per cent in accordance with the terms of issue; ex dividend July 30.—(P.A.) W. Sutherland.—W. Sutherland and Company, Auckland tanner and leather merchant, recommends a final dividend of 7i per cent making a steady 124 per cent for the year: payable July 21, ex dividend July 15. (P.A.)

Marlborough Lucerne. Interim dividend of Marlborough Lucerne Meal Company, Blenheim. stock food maker, is a steady 3 per cent. Last year total dividend was 7 per cent.