Steady trading on mixed N.Z.market

Press, Volume CXII, Issue 33065, 4 November 1972, Page 18

Steady trading on mixed N.Z.market

Turnover was steady on a mixed New Zealand sharemarket yesterday. The leaders were more in evidence among the falls, but over all rises and falls were in balance.

Progressive slumped 30c at 245 c in Auckland. Only 200 shares were traded; the first parcel of 100 sold at 250 c. The shares have climbed rapidly since listing, but volume has always been light. On October 10 the company announced that it had made a major move into discount trading. Marac Finance was steady at 305 c on the preliminary report of a sudden profit rise. N.Z. United gained 30c at 400 c—in the first sale for some time—after the profit announcement. The Brierley shares recovered 2c at 400 c and the rights rose 3c, at 195 c, on the preliminary report of a profit and dividend increase. South British was 5c higher

at 585 c and Capital Life rose 10c to 100 c.

A.B. Consolidated firmed 1c at 51c in a burst of activity and the firm’s quotations also rose Ic.

Broadlands gained a net 3c at 128 c on the strength of its profit performance. N.M.A.-Wright Stephenson lost 1c at 133 c, but Dalgety, N.Z., and Mair were steady. U.E.B. was steady at 106 c in Christchurch and Wellington, but a cent lower in Auckland.

Group Rentals, Printing and Packaging, Skellerup, and U.D.C. were down 5c each; N.Z. News lost 4c, and Carter Holt, Consolidated Brick and Winstone each dropped 2c.