N.Z. MARKET STEADIES, BUT UNDERTONE UNCERTAIN
The New Zealand sharemarket steadied in quieter trading yesterday. Turnover declined from Wednesday’s high level and prices firmed for a range of selected stocks as the frequent Thursday rally got under way. The Australian list showed some good rises, leading issues standing out.
Rises and falls were almost equal, but the number of leaders among the rises gave the market is a better tone. Alex Harvey. C. 5.1., R. A. Brierley and Trans Holdings stood out with rises of 5c each, and the breweries made
up some ground. Dominion Breweries jumped 3c to 115 c and New Zealand Breweries firmed 1c to 111 c.
RISES
New Zealand Price var’n
New Zealand Steel was marked up 3c after the announcement of the sales contract and cash issue.
In the speculative section Republic jumped 3c to 33c and L and M Oil ended the day steady after selling at 40c in early trading. B.H.P. at 1570, M.I.M. at 400 c and Western Mining at 570 c were all 20c better in a firm overseas list.
The list of falls gave some uncertainty to the market. Dunlop, Feltex, Forests and Rothmans all being a little lower.
FALLS
New Zealand
Price Var’n
Harvey (A) 400 5 Brdld (A) 91 1 CS Inv (W) .. 145 5 DRG (W) 121 1 D Brew (A) 115 3 Fletcher (A) 177 1 G Fids nts (W) 70 1 Wattie (W) 125 2 — new (A) 122 2 K Prosser nts (D) 107 2 L Nathan (A) 185 3 M O’Brien (C) .. 33 1 NZ Brew (W) .. 11! 1 NZ Steel (A) 122 3 Quill Morris (C) 178 3 R Brierley (W) .. 230 5 Sth British (A) .. 545 1 Trans H (C) .. 145 5 UEB (A) 116 1 Winstone (A) .. 103 1 W Steph (A) 109 1 Republic (A) .. 33 3 |S C Min (A) .. 16 1 Overseas Ampol (C) 82 2 BNSWNZ(C) .. 685 5 BHP (W) 1570 20 CRS Aust (C) 690 10 Dunlop Aust (A) 145 2 Waltons (C) 130 5 MIM (W) 400 20 Offshore (A) 6 2 Bounty F P (A) 8 1 West Min (C) .. 570 20
A B Con (C) .. Autocrat (D) .. CPD (W) 39 135 120 1 1 2 Carter (W) 140 1 Chas Begg (D) . 43 1 C Brick (A) 325 5 — nts (A) 195 15 Clyde (W) 100 3 Dunlop NZ (W) 300 5 FAC (A) 293 7 Feltex (W) 350 5 M Traders (A) .. 142 5 N Steam (A) 85 1 NZ Cement (D) 125 2 NZ FP (A) 362 1 NZ M Corp (W) 125 1 P Impey (A) 89 1 Rothmans (A) .. 112 1 Tonka (A) 85 3 W Davies (A) .. 28 1 W Tombs (C) .. 198 2
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Bibliographic details
Press, Volume CXI, Issue 32553, 12 March 1971, Page 16
Word Count
456N.Z. MARKET STEADIES, BUT UNDERTONE UNCERTAIN Press, Volume CXI, Issue 32553, 12 March 1971, Page 16
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