LEADERS FIRMER ON MIXED NEW ZEALAND MARKET

Press, Volume CXIII, Issue 33128, 19 January 1973, Page 7

LEADERS FIRMER ON MIXED NEW ZEALAND MARKET

Turnover was lower and the market mixed on New Zealand stock exchanges yesterday. Most of the leaders were little changed, but their tone was generally firmer, and the index rose marginally. Falls outnumbered rises by about two to one.

Alex Harvey dropped 10c to 425 c, but some others allied to the building industry, were marginally firmer. Alcan rose 2c to 203 c. Fletcher Holdings rose the same amount to 217 c and C. and A. Odlin and Winstone

Mining inquin

An inquiry into overseas investment in the Australian mining industry has been called for by the influential | committee for the Economic I Development of Australia. The committee, whose memIbers include business and 'industry leaders and academics, has made 11 recommendations in a 105-page report on Australian mineral resources, after a four-year study. As well as calling for the inquiry on foreign investment. the report cites royalties as a good method for collecting rental on natural resources, and says Australia should aim at making the greatest gains from its mineral resources. Tile committee says that the inquiry should not only look at the proportion of mineral output produced and processed by overseas companies, but at the ore potential at the . disposal of mining concerns.

Broadlands Broadlands Dominion| Group, Ltd, has acquired; West Investments, Ltd, a Fielding - based company which specialises in direct loans for commercial and consumer purposes. Its activities will be integrated with those of the Palmerston North branch of Broadlands Finance. Consideration for the purchase was 13,500 Broadlands shares.

New seismic survey New Zealand Aquitaine Petroleum, Ltd, as operator, and Shell BP and Todd Services, Ltd, have announced plans for a further seismic survey to be conducted in an area extending south from Urenui and east to Stratford, in Taranaki. The most modern seismic testing techniques available will be used, and are to begin at the end lof January and to be completed within two months.

were 1c higher. However. Carter Hoit and Consolidated Brick eased. Golden Bay and New Zealand Cement were steady. N.Z. Forest Products and U.E.B. improved. The leading stock and station agents were virtually steady. New Zealand Insurance eased 3c to 370 c, but South British was steady at 617 c. The transport companies i were easier. Freightways was 'down 2c at 285 c. Transport 'Nelson lost 2c at 156 c, and ■Brambies-Bumett fell 5c to :140c. Bridgevale continued to sell at 45c.

RISES New Zealand Price Var'n

FALLS New Zealand Price Var'n

A'can (W) 202 2 Ak Gas ctg (A) 80 15 B O Sunp (W) 265 Odlin (W) 143 1 Cap Life (A) Con Brick nts 110 2 (A) 130 5 Con Plastics (A) 160 5 Dunlop NZ (W) 335 5 Fletcher (A) 217 2 J Rattray (D) 155 9 J Watson (C) .. 155 3 Mason (A) 110 2 M Hold* (W) . . 82 1 NZ Brew (W) 155 3 NZ Forest (A) 372 2 NMA-WS (W> . 175 1 Repco NZ (A) . 147 2 Scott Gn (W1 . . 83 2 SOF (W) 205 z Tolley (W) 125 1 UEB (A) 114 9 Winstone (A» . . 185 i Wwths NZ (A) . 94 i SC Min (A) 10 i Overseas Ampol (C) 102 i BHP (W) 1200 30 Wwths Syd (D) . 133 3

A Harvey (A) 425 10 Atlas (A) 92 3 Brambles B (A) 140 5 Brierley (A) 380 Carter Holt (A) 290 CFM (AVI 135 i Con Brick (A) 183 9 DRG (A) D Wallace nts 123 2 (A) E Lichtenstein 115 3 (A) 160 FTC (A) 192 1 Feltex (W) 464 1 —rts (A) 19:'. 7 Freightways (Al A.'5 2 Haywrights (C) 127 1 J J Niven (W) OTS McKenzies (W> 99 2 McSkimming (D) 83 4 Marac (Al *?*■? ‘T 10 Milne’s (A) ~54 1 M O'Brien (Cl 53 *) M Specs (A) 140 1 M Traders (Al Mt Cook ex HB 160 5 (W) 248 2 N King (W) 168 ! NZ Ins (A) 370 3 NZ News (A) 350 15 NZ Refining (W) 423 2 NZ Steel (A) '90 2 N Steel (A) 188 ■» ■Progressive (A) 265 . i jPye (W1 115 5 i R Hauraki (A) 105 5 R Hellaby (Al 218 2 1 Skellerup (C) Smith and 350 5 Brown (A) 255 5 i Smiths Mart (C) 195 3 Swift NZ (A) 135 5 Tapp (A) 215 2 IT Nelson (W) 156 2 IWaitaki (W) 148 2 1 Wattie (W) 134 1 Minvest (C) 40 Overseas 2 M I M (W) 1 *Ex dividend. 350 10