LEADERS FIRM IN FALLING MARKET

Press, Volume CIX, Issue 31984, 10 May 1969, Page 22

LEADERS FIRM IN FALLING MARKET

. The, New Zealand sharemarket fell yesterday, but its propensity to remain high continued as investors moved from second-line stocks to market leaders as a hedge against the expected decline.

" Leaders wgre strong—rising in lhe tatio of threri ,to ohe compared with * genere! fall of three to two. Fear of further devaluation as a result of the -present world Situation may be factor influencing investors to holti'rtSeri.--,- .' .Letters’ movements write fisrgtmL however, with' the exception of AleX iHirvey, which gained 5c more. , rises were among,' second-line stocks: Marac -rose 20e and Rex CongoWiftal lSc after their incrjjjawr dividend anfibuneei Among the falls, Steel and Tube 'lost 20c after announcing a profit drop. Wilson and Horton fell 13c to 225 c, Ballins lost 3c (the biggest fall for a leader), and C.F.M. rights lost a further 2c. RH.P. stood out on the overseas list with a, 75c fall, making a loss of 115 c for the weex. Boral and Mount; Isa

each lost 10c and Carpenter lost 25c. The overseas list reflected the falling tendency on Australian markets.

RISES

FALLS

New Zealand Price Var"n c. c. A Harvey (A) .. 450 5 Ass Motels (A) .. 30 2 B Harris (D) .. 62 1 Broadlands (A) .. 80 1 Bunting (W) 103 3 Early rts (W) .. 100 5 Fletcher (A) 216 1 Gen Fds nts (A) 105 1 McKenzies (W) .. 70 1 Marac (A) 180 20 NZ Forest (A) .. 456 3 NZ Ins (A) 420 2 NZ Pet new (W) 330 10 NZ Refining (W) 560 5 Rex Con (A) .. 350 15 Taupo (A) 126 6 UEB new (A) .. 137 1 W Malt (D) .. 275 5 Hellaby (W), .. 224 1 ' Overseas CSR Aust (C) .. 915 5 Wwths (C) *34 1

New Zealand Alliance (D) .. 79 1 Bailing (C) ‘ 123 3 Bonds (W) 1 160 3 CPD (A) 168 1 CPD B (W) 157 1 CFM rts <C) .. 55 2 Con Silver (A) .. 92 1 D and Med (W) 195 5 D Wallace (A) .. 78 2 Hays (C) 3 Niven (W) 2 KPG (W) 37 T KP Drug (D) .. 153 1 Nathan (A) 220 3 Matakana (A) .. 295 5 M Choyce (A) .. 49 1 Mosgiel (D)’ .. 134 2 NZ Brew (W) .. 155 2 NZ F Co-op (C) 60 3 NZ P Mills (C) 125 1 Rickstan (A) .. 33 2 s Sharland (W) .. 242 3 Steel Tube (W) 280 20 UEB nts (A) .. iw 1 Unit Sub (A) .. 78 1 W Davies (W) .. 59 2 W Tombs (C) .. 222 3 W.Horton (A) ... 225 13 Winstone (A) .. 436 1 Zip (W) 52 2 Carb Ice (C) .. 700 25 Overseas Ampol (C) 150 8 BHP (C) 1775 75 Boral (W) 225 10 Hooker (D) .. 129 1 Mt Isa (W) ,. 1060 10 Waltons (W) 151 4 Carpenter (C) .. 355 25 ’Ex dividend.