Wattie, Gen. Foods Rise Sharply
J. Wattie Canneries and General Foods were among shares that advanced sharply on a firm New Zealand sharemarket, probably because of the “don’t sell” warning issued by Cropper-NRM.
Rises outnumbered falls by two to one and price movements were wide in active trading. J. Wattie, which has declared the offer for Genera! Foods unconditional, rose 6c to 182 c in Wellington but finished 9c higher at 185 c in Auckland in active trading. General Foods gained 11c to 151 c in sympathy, while the
rights to the note issue rose 7c to 54c.
Cropper was not traded: the last sale was at 310 c in Auck land and 308 c in Christchurch on Tuesday, for the 100 c shares. National Insurance reacted to its bonus issue by rising 35c to 480 c, while Fletcher recovered to 200 c in Auckland.
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Bibliographic details
Press, Volume CVIII, Issue 31836, 14 November 1968, Page 19
Word Count
145Wattie, Gen. Foods Rise Sharply Press, Volume CVIII, Issue 31836, 14 November 1968, Page 19
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