FIRM TONE ON N.Z. MARKET; LEADERS LITTLE-CHANGED
A wide range of New Zealand stocks were traded on a mainly firm market yesterday. The leaders were little-changed and mixed, but some useful gains were shown by selected stocks.
Alliance Textiles was marked up 5c to 65c in response to reports that good sales contracts had been negotiated. Carbonic Ice rose 25c to 220 c. The previous sale was made on February 4. The Fletcher new “B” shares were 10c higher at 180 c. The rise brings them nearer the theoretical price compared with the ordinary shares which moved up strongly recently. A. B. Consolidated attracted support 1c higher at 44c after further reorganisation of activities was announced —this time in the marketing division.
Consolidated Brick at 250 c and National Insurance at 455 c gained 5c each and retailers were firmer on balance. Tonka shares were traded at 92c—a rise of 32c which
brings them to within 8c of the price offered by the parent company. The finance companies were a little lower with the I exception of U.D.C. which managed a rise of 1c to 220 c,
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Press, Volume CXII, Issue 32885, 7 April 1972, Page 17
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187FIRM TONE ON N.Z. MARKET; LEADERS LITTLE-CHANGED Press, Volume CXII, Issue 32885, 7 April 1972, Page 17
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