NEW ZEALAND TRADING STEADY UNDERTONE
The New Zealand sharemarket maintained a steady undertone in active trading yesterday. Turnovers were high, especially on southern exchanges. Mining and oil shares continued their steady climb, and leaders showed signs of recovery, although a handful fell marginally.
L and M Oil traded heavily up to 260 c before closing at
236 c, a gain of 6c on the day Offshore gained Ic, and Bounty closed at a-steady 19c, after sales of 20c. Consolidated Silver and Southern Cross Minerals rose steadily throughout the day. The rest of the market was even, with rises slightly ahead of falls. The falls were smaller over-all than the rises, however.
Maple rose 32c, on the announcement of merger plans with Smith and Brown. The latter gained sc, to 150 c. Beach oil shares had the largest fall, losing 20c to 420 c. Ballins lost 2c, in spite of the news of expansion, New Zealand Breweries also fell, as did New Zealand Newspapers and New Zealand Refrigerating. Waitaki also declined.
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Press, Volume CX, Issue 32209, 30 January 1970, Page 17
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170NEW ZEALAND TRADING STEADY UNDERTONE Press, Volume CX, Issue 32209, 30 January 1970, Page 17
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