B.H.P. Rises 225c On Firm N.Z. Market

Press, Volume CVIII, Issue 31661, 23 April 1968, Page 23

B.H.P. Rises 225c On Firm N.Z. Market

Broken Hill Proprietary, the Australian steel, iron ore, oil and gas giant, jumped 215 c, or 10.7 per cent, to 2225 c in the Christchurch Stock Exchange yesterday in busy trading. The New Zealand market was strong, rises exceeding falls more than three to one over generally narrow price movements.

Turnovers for a Monday were heavy and the range of issues was wide.

B.H.P. showed sharp variations during the day as investors adjusted to the Australian trading. More than $93,000 worth of B.H.P. changed hands, of which about $37,643 was in Christchurch. N.Z. Petroleum, which in February announced plans for a one-for-four issue of 100 c shares at par but has since issued no details to the public. showed renewed activity, rising 25c to 270 c in Wellington.

Leaders were mainly firmer N.Z. Refrigerating gaining another lc to 101 c to rise 12c in three weeks. Alex Harvey, which began slipping about the middle of April, recovered further ground, rising 2c to 312 c. Fletcher rose a further 4c to 186 c and Firth Concrete gained 5c to 180 c. In the falls, D. McL. Wallace lost 15c of recent gains to 85c, while Charles Begg slipped 2c to 66c. N.Z. Insurance lost 3c to 282 c, and 1.C.1.N.Z. fell 2c to 176 c. In the overseas section, Mt Isa lost 10c to 590 c.