Three Falls To Every Rise In Share Prices

Press, Volume CVI, Issue 31277, 25 January 1967, Page 17

Three Falls To Every Rise In Share Prices

The market resumed its slide yesterday on New Zealand stock exchanges, with three falls to every rise.

A few leaders resisted the trend, but more key stocks lost ground. The range of trading was narrow but turn-overs were quite heavy.

General Foods, at Ils 4d, N.Z. Forest Products, at 20s 6d, and New Zealand Steel, at 2s 7d, each gained Id. J. Wattie Canneries rose 3d to 15s 6d, and New Zealand Farmers’ Fertiliser 3d to 35s 9d. In the overseas list B.H.P. improved another 3d to 54s 9d, and Woolworths firmed 2d to 10s lOd. Prominent among the falls

were Taupo Totara, 9d down to 9s 3d, Cable Price Downer, 6d lower to 16s 3d, Southland Frozen Meat, with a fall of 6d to 18s, National Electric, 3d lower at 6s, Pye, 3d down at 8s and Tappenden, declining 6d to 19s. New Zealand Refining at 45s and Tasman at 49s 6d each lost 6d.

In the overseas list A.N.Z. Bank dropped Is 9d to 48s 6d, and Boral eased 3d to 16s 6d.

SYDNEY The mining section gained ground slightly on the exchange yesterday. The investment section was a shade easier: bank stocks lost ground. The food, drink and tobacco shares were also easier. Turn-over of 770,000, including 300,000 mining, was average.

Sales.—B.H. South. 308; Com. Mining, 283; Cons. Gold, 432; C.R.A., 532; Kath. Inv., 300; Loloma, 135; M. 370; Mt. Lye'll, 157; Mt. Morgan, 345; Mt. Isa, 418; N. 45; Nth. 8.H., 398: Placer, 2956; West Mining, 680; Ampol Exp., 120; A.O. Gas, 183: ExoiH, 18; Interoil, 140; Oil Search, 18; Planet pd., 33; Woodslide, 90; Amal. Chem., 70; A.W.A., 212; Ampol, 61; Ansett, 61; Assoc. Sec., 159; A.C.1., 284; A.G. Corp., 164; A.N.1., 40; N.S.W., 528; Blue Metal Ind.. 158; Boral, 199; Borg Warner, 185; Brambles, 155; Brit. Tob., 245; 8.H.P., 654; Burns Consol., 160; B. Philp, 390; Carpenter, 220; Clyde, 85; Coles, 124; C.S.R., 285; C.A.G.A., 147; Com. of Syd., 232; C.1.G., 238; Cone. Ind., 36; Cons. Hold., 250, and rts., 50; Drug Houses Aust., 174; E.M.L, 230; E.Z.1., 254; Elders 263; Email, 47: J. Fairfax, 256; Feltex, 49; Fibre cont., 161; Hanimex, 153; J. Hardie, 516; Healing, 23; Hilton, 96; Hooker, 38; Hordern, 33; LA. Corp., 86; 1.C.1., 376; D. Jones, 145; H. Jones, 406; Larke Consol., 78; Lend Lease, 85; Lifesavers, 358; Marrickville, 103; Mauri Bros., 213; C. Moran, 142; Motels Aust., 77; Myer, 310; N.Z. Forest, 248; Nat. Bank, 215; Nylex, 79; Olims, 86; Peko W., 233; Penfold, 190; Pioneer Cone., 114; Pioneer Sugar, 170; Publishers, 229; Pye, 100; Qld Ins., 420; Rothmans, 240; Talcott, 19; Taubmans, 109; Thiess, 130; Tooheys, 106; Tooth, 489; Unit Telecast, 30; Waltons, 100; W’wths., 131.

MELBOURNE

Industrials were steady with moves generally small and about in balance. Base metals moved narrowly around steady levels. Mt. Isa gained 5 cents to 418 in response to plans for a new open-cut copper mine. Oils were firm.

Sales.—A.W.A., 211; Ampol, 62; Ansett, 60; Arc bids., 102; Assoc. Pulp, 134; Aust. Chem., 193; A.C.1., 285; A.N.Z., 606; A. 166; Boral, 199; 8.H.P., 656; Brolite, 183: Burns Philp, 392; Carlton, 360, and Z. 329; Carrier, 70; Coles, 124; C.S.R., 283; Courtaulds, 48; Cust. Cred., 80; D.H.A., 173; Dunlop, 137; Electro B. 56; Email. 48; E.Z.1., 252; Feltex, 49; Gollin, 77; Gordon Gotch, 215; Herald. 458; Hooker, 38; Humes, 295; 1.A.C., 86; 1.C.1.A.N.Z., 375; Jennings, 129; Jones H., 410; Kauri, 19; Kelvlnator, 196; McPhersons, 344; Macrobertsons, 115; Minster, 270; Myer, 311; Myttons, 142; Nat. Bank, 216; National Cons., 245; N.Z. Forest, 250; Nylex, 78; Olympic, 68; Petersville, 52; Project, 20; Pye, 100; Qld. Press, 506; Repco, 213; Roela, 185; Siddons, 120; Sleigh, 55; Smith H„ 270; Swan, 245; Toppa, 85: Wwths., 131; Yarra, 75: A.0.D., 20; Aust. 01'1 Gas, 183; B.H. Sth., 308: Cwealth. Mng., 283: Cons. Gold. 432; Emperor, 40; Loloma, 133; Mt. Isa, 418; Mt. Lyell, 158; Mt. Morgan, 345; Nth. B. 395; Oil Search, 19; Western Mng., 682.

Australia To

Import Copper

Australia will have to import about 6000 tons of copper to meet demand during the next 12 months. Manufacturers say that their 1967 requirements will be 108,000 tons. Estimates of supplies suggest a shortfall of about 6000 tons.

At the recent meeting of Mount Isa Mines, Ltd., the chairman (Mr G. R. Fisher), forecast that the company’s production would be down by 10,000 tons this year. This was because of the need to work lower ore grades. Production last year was 76,000 tons.