BIDS VIE WITH MINERALS FOR SHAREMARKET FOCUS
Trading was quieter in the New Zealand sharemarket yesterday, and a smaller range of issues changed hands. Many closing prices were steady, and notable movements were confined to a few stocks involved in take-over bids.
Fails were slightly ahead of rises, but the gains tended to be less marginal. Although the speculative issues continued to attract attention and a good number of shares were traded, their tone was less buoyant.
Southern Cross Minerals rose again with a 15c gain to 220 c, and Waihi followed with a 3c increase to 78c, but the Consolidated Silver issues eased again and L and M Oil lost a cent to 234 c. There was little ihovement among the leaders, and no second-line falls stood out. Northern Steam reacted to the Brierley take-over bid with a 13c rise to 90c after touching 95c, and Winstone, a joint bidder for Wilsons Cement, also added 13c to close at 160 c. Wilsons, the directors of which are opposing the bid, rose 10c to trr.de at 295 c. Radio Hauraki rose 9c to 65c in the day’s only large rise not associated with a take-over bid. The overseas list was easy.
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Press, Volume CIX, Issue 32215, 6 February 1970, Page 16
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201BIDS VIE WITH MINERALS FOR SHAREMARKET FOCUS Press, Volume CIX, Issue 32215, 6 February 1970, Page 16
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