INDUSTRIALS CONTINUE TO GAIN GROUND IN N.Z.

Press, Volume CIX, Issue 32265, 7 April 1970, Page 18

INDUSTRIALS CONTINUE TO GAIN GROUND IN N.Z.

Prices of industrial shares continued to rise when the New Zealand sharemarket reopened yesterday. Rises outnumbered falls by almost three to one and some leading issues made solid gains. Oils were firm and mining issues were stronger. Activity was normal for a Monday.

Ballins rose 4c to 123 c and New Zealand Breweries was steady, but Dominion Breweries lost 3c—most of last week’s Increase—and closed at 175 c. Feltex shares and rights moved In opposite directions by 5c each, while Fletcher and, Wattle new shares eased, but other active issues were firm. Harvey rose 7c to 467 c, Newspapers 8c to 488 c and New Zealand : Insurance 10c to 487 c. The notable second-line stocks were Whitcombe and Tombs and Lueteroid. which each put on 10c; Skellprup, which leapt 80c to 1040 c In : small parcela on the Reid, rubber rumour; and Sutoerland, which fell 7c to 193 c. ’

Marlborough Lucerne, New Zealand Cement and Trane Holdings all lost sc. L and M Oil continued its f'ow recovery, ending the day 4c higher at 80c. Republic fully paids closed steady, but the contributing shares made a little ground to 39c. Waihi was the day's best mining share, adding 7c to close at 72c, while the Southern Cross issues made smaller gains. No overseas shares rose, but there were few falls as investors appeared unwilling to predict the likely behaviour of the Australian market this week. B.H.P. eased slightly to 1750 c.

Bid Unconditional Repco, Ltd, now has more than 33 per cent of stock units of Motor Spares, Ltd. The offer is now free of the condition as to minimum acceptance and will close on April 21.—(P.A.)

RISES

FALLS

Brents, Ltd, the Rotorua hotel owner, will pay a steady interim dividend of 5 per cent on April 17, ex dividend April 13.

New Zeeland Price Var'n c c Burt (A) .. 137 3 Harvey (A) 487 7 Yates (A) 198 3 S'ball (A) 235 3 Beilina (A) 123 4 BNZ Fin (C) 250 5 Broadlands (A) 107 I CPD (W) 140 2 Carter (A) • 137 1 C Brick (A) 268 1 •• 270 115 5 3 Feltex (A) 448 5 Gen Fin (A) 192 2 Gear (A) 156 1 G Bay (W) 129 .1 Hays w s co 1CINZ (W) 123 250 1 4 K Prosser nts (A) 132 2 Lusteroid (A) 255 10 Maple (A) 128 3 Matakana (A) 305 5 M Choyce (A) 61 1 O'Brien (C) 42 1 M Hold (A) 90 1 M Spec (A) N Kins (W) *180 5 105 1 Forest (A) 425 3 —contr (W) 285 2 NZI (A) .. 437 10 News (A) 488 8 Refrig (C) 128 1 NZ Steel (A) 200 2 NZ T S (A) 185 2 Rubber (A) 480 5 Skellerup (C) 1040 80 S Brit (A) 591 1 Tonka (C) 155 2 UEB (W) 161 1 —nts (W) 147 1 W Tombs (C) 225 10 Wwths NZ (A) 105 1 C Silv contr (A) 60 1 L and M Oil (C) 80 4 Rep Oil contr (A) 39 2 S C Min (A) 150 2 S C Min rts (A) 50 5 Waihi contr (A) 72 7

New Zealand Price Var’n ft C. Ak Gas contr (A) 42 1 Begg (W) 51 1 D Brew (A) 175 3 DRG (W) 138 :i Feltex rts (W) .. 195 5 Fletcher (A) .. 219 1 Wattle new (A) .. 165 1 Leyld (A) 113 2 Marl Luc (W) .. 190 5 N Freer rts (W) 32 2 NZ Cement (W) 155 5 PTY (A) Trane H (C) 247 340 1 5 W Sutherland (A) 193 7 C Sllv (A) 69 1 Overseai Ampol (C) 107 1 BHP (C) W R Carpenter 1750 5 (W) *Ex Dividend. 255 5