N.Z. market weakens in dull trading

Press, Volume CXI, Issue 32666, 23 July 1971, Page 10

N.Z. market weakens in dull trading

A number of good price rises failed to arrest the market decline on New Zealand stock exchanges yesterday and the index lost another Unit when leading shares sold at lower prices.

The announcements by Robert Holt, and Carter Consolidated resulted in a rise of 5c to 80c by the former, and a fall of 3c to 147 c by the lattor.

B.N.Z. Finance rights moved 5c higher to 100 c, and C.S.I. improved another 2c to 147 c, in a firm market for finance companies.

Arthur Barnett put on 5c ti 210 c, Steel and Tube gained the same amount to 260 c, and Wilson Malt recovered 4c to 175 c.

Hawkins Holdings stood out with a jump of 18c to 160 c. The companv has announced an unaudited increase in orofit of 8 per cent and the dividend rate was raised 1.5 per cent. Most of the falls were of one or two cents but Forests lost 4c, and Consolidated Brick sc. Dominion, and New Zealand Breweries were 1c easier as were Harvey and U.E.B. Trans Holdines retreated another 5c to 105 c. Australian stocks were weaker with Comalco and 1.C.1.A.N.Z. standing out with sharp falls.

Planet Oil plans Planet Oil Company NL plans to start drilling its first optional wild-cat well, on the offshore Sailfish prospect, in the Gippsland Basin, in Bass Strait, some time in September this year. The well. Sailfish No. 1, will be drilled by New South Wales Oil and Gas Company, and its fully owned subsidiary, Sailfish Petroleum NL. N.S.W. Oil and Gas is 50 per cent owned by Planet Oil.

RISES

FALLS

New Zealand

Price var’n c. c. A Barnett (D) 210 5 BNZ Fin rts (W) 100 5 Harris (W) 62 1 C S Inv (W) .. 147 > 2 Hawkins (A) 160 18 Nathan (A) 190 1 R Holt (A) 80 5 S Tube (C) 260 5 W Malt ‘C’ (D) . . 175 4 C Silv rts (A) 3 1 L and M (W) .. 40 1 . Overseas NMA (W) . .. 93 1

New Zealand Harvey (A) 377 1 And Bvn (C) 115 1 Ak Gas (A) .. Beaths new (C) .. 70 1 58 2 Carter (A) 147 3 C Brick (A) 300 5 D Brew (A) 111 1 Freightways (D) 93 2 Haywrights (C) 108 1 Mason (A) 105 1 NZ Brew (W) .. 111 1 NZ FP (A) 370 4 Schofield (A) ,. 670 10 Skellerup (C) .. 278 2 Sth British (A) .. 552 2 Trans H (C) 105 5 T Jones (D) 52 3 UEB (A) 120 1 — nts (C) 116 1 UDC (W) 202 2 Well Pub (W) .. 199 6 W Neill (D) 157 1 Winstone (A) .. 103 1 Overseas Co aalcp (O 385 25 CSR Aust (C) 580 5 F and T Aust (C) 98 4 Coles (W) 88 2 ICIANZ (Cl 155 15 Wwths (W* 75 2 Carpenter (C) .. 206 4