Market Closes With Very Active Trading
New Zealand stock exchanges closed for the week after very active trading. The New Zealand list had again twice as many rises as falls, and turnovers were heavy, over a wide range. In the overseas list rises and falls were in balance, but the falls were larger.
B.H.P. lost 40c, to 2320 c. and CSR (Australian register) 10c, to 640 c. Price movements were narrower than earlier in the week. Leaders were firm. In insurances South British was steady. National rose 3c to sell at 415 c, and New Zealand, engaged in a take-over battle for Victoria Insurance, lost 2c. to 356 c.
R. W. Saunders had the best rise in the New Zealand list: the shares sold 10c higher, at 210 c. The company has been reported to be associated with experiments in paper clothes.
Meat shares firmed: C.F.M. rose another 4c, to 147 c, and Waitaki rose sc, to 185 c. L.W.R. gained 2c, to 150 c. Motor Specialities, which yesterday announced a 10 per cent higher profit, gained 4c, to 139 c.
Mason Brothers had the largest fall: 20c to 90c. The share has lately been erratic. From a level of 78c in June it had fallen to 64c by August 6: it then climbed rapidly to 110 c by Thursday last, and lost 20c of those gains yesterday.
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Bibliographic details
Press, Volume CVIII, Issue 31772, 31 August 1968, Page 18
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228Market Closes With Very Active Trading Press, Volume CVIII, Issue 31772, 31 August 1968, Page 18
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