Market Decline Gathers Pace
Turnover jumped on New Zealand exchanges as the decline gathered momentum. Industrials were weaker but mining and oil stocks rallied with the exception of L and M Oil.
Allied Concrete, which I might have a commercial sillcone deposit, firmed 5c to 225 c. Carter Consolidated gained another 5c to 155 c. ' Dominion Breweries put on 3c to 183 c. The company will make a one for five bonus issue and a one for six cash issue. G. Bowron and S.F.M. ad vanced on news of a joint tanning venture. Bowron rose 10c to 235 c and C.F.M. 1c to 170 c. Losses among the leaders were quite severe and covered most groups. A. Harvey, at 450 c, K. Prosser at 145 c, Reid Rubber at
1470 c and N.Z. Refining all lost sc. South British retracted 6c to 600 c and New Zealand News 7c to 335 c. Ballins Industries, N.Z Forest and U.E.B. lost 2c each.
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Bibliographic details
Press, Volume CX, Issue 32352, 18 July 1970, Page 18
Word Count
161Market Decline Gathers Pace Press, Volume CX, Issue 32352, 18 July 1970, Page 18
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