GOOD TONE ON MIXED N.Z. SHAREMARKET

Press, Volume CXII, Issue 33093, 7 December 1972, Page 20

GOOD TONE ON MIXED N.Z. SHAREMARKET

Trading was mixed, but there was a good tone on quieter New Zealand stock exchanges yesterday. Many of the leaders were steady, and rises outnumbered falls by a good margin.

The announcement of a dividend payment, from capital profits, by Atlas Majestic prompted a 3c rise in the price of the shares. A. and T. Burt was 3c firmer at 138 c after the report of a slight increase in profit for the half-year. Broadlands continued to recover with a rise of 1c at 117 c. B.N.Z. Finance recovered 10c at 320 c. U.D.C. was steady on 240 c after the reported profit jump, and Marac firmed 5c at 285 c.

C.S.I. suffered a sharp loss of 7c at 109 c after its disappointing profit for the second three months of its financial year.

I Feltex was virtually steady at 440 c after adjusting for the rights which sold at 180 c. Alliance Textiles and L.W.R. were well supported, showing gains. The transport companies were firmer, and retailers continued to rise. Bell Radio was steady at 255 c after the half-yearly report indicated higher profits. Kearns-Oatina had the first sale for the year at 120 c. Consolidated Plastics, D.1.C., and Progressive were down 5c each, while Mount Cook lost 7c and Consolidated Brick, 10c.