Leaders Show The Way On Firm Market
Leading stocks predominated among rises on a very firm New Zealand stock market yesterday. Rises outnumbered falls four to one over the widest range of issues this week. Price movements were moderate.
N.Z. Forest which reported earlier in the week a 10 per cent increase in sales, rose another 3c to 288 c to yield 3.1 per cent on the 9 per cent dividend. Fletcher recovered 2c to 182 c and Tasman rose 5c to 760 c. N.Z. Refining gained 15c to a year’s peak of 560 c. Television stocks were firm er, Pye recovering 3c to 50c, a rise of 5c since last week’s announcement of a big drop in profit and dividend. Bell gained 4c to 154 c but finished 1c lower for the week.
Dental and Medical followed the lead set by Early Bros and rose 10c to 220 c in the first sale in two weeks. U.E.8., in rising 2c to 94c, reached its level of two weeks ago. In the overseas section, the trend was mainly unchanged, with Mount Isa gaining 20c to 600 c B.H.P. slipped 20c to 2010 c in Christchurch but there was a closing sale in Auckland of 2030 c and another in Welling ton at 2050 c.
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Press, Volume CVIII, Issue 31659, 20 April 1968, Page 16
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214Leaders Show The Way On Firm Market Press, Volume CVIII, Issue 31659, 20 April 1968, Page 16
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