MARKET UNCERTAIN AFTER PRELIMINARY REPORTS

Press, Volume CXI, Issue 32612, 21 May 1971, Page 16

MARKET UNCERTAIN AFTER PRELIMINARY REPORTS

Preliminary profit announcements appeared to make for an uncertain market on New Zealand stock exchanges yesterday, and most of the market leaders weakened. Second-line stocks were marginally firm, but prices changed in both directions.

Alex Harvey fell 10c to 380 c, and N.Z. News was 5c lower at 300 c after their prelinminary report. Pastoral Holding came back another 3c to 52c. Forest Products was down 4c, Rothmans 2c and Waitaki sc. Northern Steam slumped 15c to 70c in a prompt reaction to its profit drop. B.N.Z. Finance retracted 5c to 245 c, and M. S. D. Spiers, and Neill Holdings lost the same amount. The retailers were mixed with Beaths 2c higher at 60c (the new shares were traded at 57c on their first day), and D.I.C. put on 5c at 190 c.

However Haywrights Was down 3c, to 110 c, and Sffiith and Brown- eased 1C to 132 c. 1.C1.N.Z. continued to improve with’the shares 3c better at 220 c. C. Fletch. Holdings and N.Z. Steel improved 1c each. Wilson. Malt recorded the best rise on the day when it was traded 7c higher at 180 c. D. Wallace, Dominion Fertiliser, and Scott Group were up 5c each. Kempthone Prosser improved another 2c to 127 c. The shares have moved up steadily from a low this year of -110 c on March 19- The companys financial year ends on May 31.

RISES

New Zealand Price

FALLS

Overseas Comalco new (C) 465 5 •Ex dividend.

INDICES

New Zealand.—Financial Research and Management, daily index; base 100, January 31.

Alliance (C) . c. 73 c. 1 S'Hall (W) 175 3 Beaths XC) .. 60 2 CFM (W) 126 1 Carter (A) 146 1 C Brick (A) .. 325 2 Cyclone (C) .. 53 1 C S Inv (D) .. 140 1 DIC (D) 190 5 D Wallace (A) .. 65 5 D Fert <D) .. 120 5 DRG (C) is . 117 1 Fletcher (W) .. 188 1 ICINZ (C) 220 3 K Prosser (W) .. 127 2 NZ Steel (A) .. 108 1 NAF (A) 170 3 Scott Group (A) 90 5 Tonka (A) 78 3 W Malt (D) .. 180 7 Zip (A) 44 1 Mmvest (C) 35 1 Republic (A) .. 36 1 Overseas Ampol (C) 78 2 Ansett (W) 73 4 Waltons (W) 124 1 MIM (A) 380 5

New Zealand Harvey (W) 380 10 AM Pac Ind (A) 48 1 BNZ Fin (A) .. 245 5 FTC (A) 104 1 G Bay (W) 93 1 Haywrights (C) no 3 McSkimming (A) 62 3 Med Chamb (W) 360 10 MSD Spiers (W) 135 5 Neill Hold (A) .. 100 5 NZ FP (A) 365 4 NZ News (A) .. 300 5 NZ Pastoral (W) 52 3 N Steam (A) . 70 15 Prestige (D) 90 10 P Impey (A) .. *78 2 Rothmans (A) .. 115 2 Sharland (W) .. 185 5 S Brown (A) .. 132 1 Swift (A) 112 1 Tapp (A) 190 2 UEB (A) 118 1 Waitaki (D) 145 5

1957: May 14 286.34 May 17 286.98 May 18 286.53 May 19 287.85 May 20 • • • 285.73 Sydney.—Sydney Stock Exchange (July 1931 eaua& 100). ' June, 1939. May 14 . 329.72 391.32 510.70 May 17 . 327,64 389.58 509.64 May 18 . 326.33 386.58 510.13 May 19 . 324 01 384.50 507.54 May 20 . 323.85 388.05 505.33 London.—Financial Times. May 13 .. 391.3 73.50 58.4 May 14 .. 393.8 73.28 59.0 May 17 .. 380.2 72.61 58.1 May 18 .. 385.3 72.83 57.7 May 19 .. 388.4 73.01 57.4 New York.—Dow Jones. Rails nd. Turnover May 13 223.71 936.34 17,640,000 May 14 222.60 936.00 16,430,000 May 17 216.93 921.30 15,980,000 May 18 218.17 918.56 17,640,000 May 19 217.89 920.04 11,740,000