NEW ZEALAND SHAREMARKET FOLLOWS LEADERS DOWN
Selling pressure was more evident on New Zealand exchanges yesterday. Leading issues lost ground as buyers became harder to please. Australian stocks were firmer on balance.
Carter Consolidated advanced to 140 c in Auckland and 135 c in Wellington. The Government decision on tenders for Kaingaroa timber is iminent. Lane Walker Rudkin was in demand and the shares made a strong advance to close 9c up at 187 c. Motor Spec and Motor Traders found renewed support and N.Z.M.C. responded to a better than' budgeted profit prediction.
Southern Cross Mining shares put on 1c to 26c in the first day of trading on the split basis. Consolidated Silver retreated as the company announced plans to hive off its Great Barrier interests in a new mining venture. Brewery shares were marked down as was Feltex and Fletcher -Holdings. Other leaders to retreat were National Insurance, and U.E.B.
RISES New Zealand Price Var’n Amoil (W) 22 c. 1 Bonds (W) 187 6 Carter (A) 140 5 Neon (A) 91 1 C Bricks rts (A) 42 2 G Fds nts (A) .. 91 1 Kaiapoi (C) 44 1 LWR (A) 187 9 M Specs (C) 167 2 ” new (A) 162 7 M Traders (A) . 180 5 NZ MC (A) 145 5 Rothmans (A) 206 1 S Biolab new (A) 157 SC Hotel (A) .. 77 Tapp rts (A) .. 19 1 Taupo (A) 140 Tolley (W) 71 1 SC Min (A) .. = 26 1 Overseas Comalco contr (C) 425 5 EZ Ind (C) 530 10 Tooth (W) 575 10 Waltons (C) 127 7 Wwths (C) 116 1 Mt Isa (C) 1930 30 FALLS New Zealand Berlei (W) 82 8 Brdld rts (A) .. 23 2 Clyde rts (W) 1 1 C Plastics (A) ., 214 1 D Wallace (A) .. 63 2 D Brew (A) 125 2 ” rts (A) 21 2 Donaghys (D) .. 240 5 Feltex (W) 410 3 Fletcher (A) 206 1 L Nathan rts (A) 18 1 McKenzies (W) 72 2 Mosgiel (D) 135 1 Mt Cook (D) .. 220 3 Nat Ins (W) 445 3 N King (W) 100 3 NZ Brew (W) .. 118 1 NZ Cement (D) 148 1 NZ TS (A) 170 3 UEB (A) 138 9 ” nts (W) 125 9 W Horton (A) .. 276 2 W Tombs (C) .. 210 5 Wwths NZ (W) 90 1 C Silv (A) 47 9 L and M (W) .. 61 J Overseas Atnpol (W) 93 5 BHP (C> 1735 5 = Share split.
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Press, Volume CX, Issue 32391, 2 September 1970, Page 22
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408NEW ZEALAND SHAREMARKET FOLLOWS LEADERS DOWN Press, Volume CX, Issue 32391, 2 September 1970, Page 22
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