MARKET RETREATS AFTER FINAL READING OF BILL
The final reading of the Stabilisation of Remuneration Bill made its impact on the New Zealand sharemarket yesterday; the market lost its firmer tone and retreated on lower turnover. Falls were generally moderate, but the undertone was weak. Most of the leaders contributed to it.
Mining and oil stocks remained firm, Amoil and Consolidated Silver being 1c higher. Republic gained 2c to 35c. New Zealand Breweries appeared to find special support, rising 1c to 110 c, and the New Zealand Motor Corporation rose the same amount to 126 c. The United Dominions Corporation, at 180 c, gained 2c, and Bell Radio and Wellington Gas were also 2c better. Except Dunlop, which fell
; 112 c ex rights, and Conl solidated Brick, which fell : 15c, most of the falls were : about 4c or sc. Feltex, at 325 c, A. S. Pater- > son, at 115 c, and McSkiml ming were 5c lower. New , Zealand Insurance, at 346 c, • New Zealand News, at 270 c, s and Winstones, at 105 c, were 4c lower, while Forests, at ■ 347 c, and Waitaki each , retreated 3c. South British was marked . down 8c to 552 c after its 1 recent firm trend.
RISES New Zealand Price Var’n c. Bell (W) 170 2 CPD (W) 117 1 DFI ‘A’ (W) .. • 30 4 FTC (A) 97 1 J Smith (W) 84 2 M Choyce (A) ,. 56 3 NAF (A) •175 4 NZ Brew (W) 110 1 NZ M Corp (W) 126 1 S Tube (W) .. 255 5 UDC (W) 180 2 Well Gas (W) .. 130 2 Amoil (A) 16 1 C Silv (A) .. 25 1 Republic (A) 35 2 FALLS New Zealand Alcan (W) 192 1 Harvey (W) 380 2 Alliance (D) .. 67 1 Paterson (W) .. J15 5 Beaths (C) 55 1 Brdld (A) 88 1 Capital Life (A 47 1 C Brick (A) 330 15 —nts (A) 205 5 —rts (A) 40 12 Dunlop NZ (W) 275 25 Feltex (W) 325 5 McSkimming . (W) 65 5 1 Mason nts (A) .. 82 2 NZ FP (A) .. 347 3 NZ Ins (A) 346 4 NZ News (A) .. 270 4 Rothmans (A) .. 112 1 Sanford (D) 128 2 Sth British (A) 552 8 UEB Nts (A) .. 106 2 Waitaki (C) 157 3 Winstone (A) .. 105 4 Overseas Wwths (A) • 78 13 MIM (C) 405 15 *Ex Dividend.
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Press, Volume CXI, Issue 32565, 26 March 1971, Page 18
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393MARKET RETREATS AFTER FINAL READING OF BILL Press, Volume CXI, Issue 32565, 26 March 1971, Page 18
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