Market Tone Steadier But Sales Still High
Although turnovers were high on New Zealand stock exchanges yesterday the tone was much steadier, with rises just outnumbering falls. Price movements were moderate with insurance groups maintaining their firmness.
National Insurance advanced 5c to 405 c, N.Z. Insurance 10c to 360 c, and South British 8c to 460 c, all new peaks.
Wilson Malt, which last week rose to 400 c on news of the bid for 49 per cent of its shares by Greggs, recovered 10c to 350 c. N.Z. Petroleum, which fell to 320 c from 420 c
near the end of July, recovered further by gaining 5c to 380 c.
M. O’Brien also recovered, rising 5c to 45c after falling to 31c in July on an announcement that dividend would be passed for the latest year.
Early Brothers rose 4c to 150 c, which is three times the par value of the 50c shares. Another local company,
Bunting, lost 10c to 80c in a Wellington sale while Lane Walker Rudkin eased back 3c to 149 c.
Other reactions to reports were felt by Charles Begg, down 2c to 68c; T. and W Young, down 5c to 170 c: and Wright Stephenson, down 1c to 130 c.
In the overseas section, B.H.P. was marked 45c lower at 2425 c in Christchurch.
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Bibliographic details
Press, Volume CVIII, Issue 31764, 22 August 1968, Page 19
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221Market Tone Steadier But Sales Still High Press, Volume CVIII, Issue 31764, 22 August 1968, Page 19
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