Market at record level in pre-Budget trading

Press, Volume CXIII, Issue 33252, 15 June 1973, Page 15

Market at record level in pre-Budget trading

Ute New Zealand sharemarket index rose to a record level in active trading yesterday on the eve of the Budget. Strong rises among the leaders helped in the rise of 1.88 to .’>72.97.

Company* reports and the general belief that there would be little to fear m the Budget encouraged lastminute buying. Most of the price changes during trading were upward but a few stocks in the building and allied section of the market were below theii best price in closing sales. Judging by the closing quotations in Christchurch, invstors were not expecting any surprises. Buying and selling quotations for active stocks were posted at close to last sale prices and not wide of them, as is the case when uncertaintv prevails. Because of the high degree 'of certainty which has preweeded this Budget, pre-

Budget t lading has been un . usually active and the usual wait-and-see attitude lacking Because of this, a rally could be expected in the next few davs as the market adjusts to the news, hut be- t cause an expansionary Bud 2 get has been anticipated, con- .' tinned firm trading, rathei than a rapid advance, could 'i be expected s I

INDICES

Rights niarkei

Last Buy Sell Sale Trans. Nelson 90 — 95 National turnover A total of 330.350 .shares were sold on New Zealand .stock ex* change* yesterday 42,800 more than on Wednesday.

RISES

FALLS

METALS

i'S I P A LONDON, June 12 Bin rts Selle i • a ion a ton Copper 683.50 684.00 Tin . 1770.00 1772 00 [Zinc 163.73 IM.OO [Lead 248.50 248 75 Majority holding Provincial Traders Holding, iLtd, said it has now acquired 61.3 per cent of the capital of Frozen Food Industries of Australia. Ltd.

New Zealand. X e\v Z calami I nited < oipotation i. Ltd. d a 11 \ index b. use JOO. Januaix 21 1!♦.»» June 8 June 11 368 68 June 12 369 91 June 13 370.09 June 14 372.97 Sydney. bvdnex Slot k 1 .X change (Jul\. 1931. June. 1939* Keiail Ind Ml Olds lune 7 . 469.il 48 ) 44 .) /.» . •» June 8 469.56 485 51 576 70 lune 12 471.63 487.21 579.80 June 13 468.52 484 36 573.96 June 14 463 04 478.84 566 87 London, '•Financial Ttmc» Indust. ( i\ I <’»old June 7 .. 478.7 69.97 139.3 June 8 . 483.7 69.94 139.7 June 11 474.6 69.55 13 /. 3 June 12 472.4 69.52 140,4 June 13 . 463 7 69.23 142.1 1 New York. Dow Jones. Inds Kails 1 '’over June 7 909.62 160.48 14. 160.000 June 8 920.00 16 2.41 14,050.000 June 11 915.11 161.56 9.940.00(1 June 12 927 00 165.85 13.840,000 June 13 915.49 167.75 15/ ; oo.ooo

New Zealand Pine Vai Ajax (Wi 178 1 » Allied I'arni (Ai 3 "Ml 5 A Batt (A) Z.I.A A Barnett tl)l ',)(» ■> Vate.» (Al ’ ill ■> S’Hall (Ai iso 2 Paterson 7<» nts (W» 140 111 Paterson 77 nts <Wi 1 to > A X 1 Bint tWl 17o Atlas (A) I . to 15 Beaths (Cl S7 1 B Harns i\\ I 116 Brambles B (Cl 139 1 Brdld (Al 1 tb CPD (Wi 202 4 Odlin (Wi l(S7 Carter Holt (A) IIS 3 Classic (A) 130 Con Brick (Al 177 4 Cooks Wine (At 15b Dalgetx NZ (Wi 270 Doni Brew (A) 163 ■> FTC (Al 250 8 Farrier (C) 90 / Feltex (Wi >07 3 Firth (A) 10 Fletcher (A) 256 h Freightwavs new (Wi 334 2 G Foods nts (A) 102 2 K Prosser (W) 19S i Kidd Garrett (W) 122 1 L D Nathan (Al 173 1 MKM (W) 105 McKenzies (Wi 120 J M O'Brien (Cl 55 1 MSD Spiers (W) 402 Mt Cook ex HB (Wi 290 10 M Specs (A) 142 «. N King (W) 256 1 NZ Cement (Di 1S2 NZFF (A) 160 1 NZ Forest new (A) 392 2 NZ News (A) 370 NMA-WS (W) 199 4 N Steel (A) 165 5 P Impey (A) 165 5 R Hauraki (A) . 153 3 Repco NZ (W) .. 145 2 Rickstan (A) 70 2 Rothmans (A) 194 1 Scott Gp (W) 92 2 Smith Biolab (A) 170 2 Smith & Brown (A) 295 2 Smiths Mart (W) 205 5 SFM (W) 240 2 Tapp (Al 285 10 Tee Vee (W) 410 14 T J Edmonds (Ai 1" Trans Hold (C) 152 •• Trans Nelson rts (Wi 95 5 UEB (Al 125 1 Wattie (W) 165 4 Winstone (A) 236 1 35 W Malt (W) 340 W Malt C (W) 325 5 W Neill new FP (W> 219 1 Amoil (W) 29 1 Con Silver (Al 15 1 Min Res ctg (Wi 20 2 Overseas Ampol (C) 83 1

New Zealand Price Var'i c c Alliance (W) 99 1 Assoc Motels (A) 65 1 Brierley (W) 377 3 CMI (W) 200 2 Con Plastics (Al 137 1 J Smith (W) 155 3 McAlpine (W) 180 5 NZ Steel (A) 97 2 Schofield (A) 189 1 Trans Hold ctg (C) 88 12 Overseas BHP (W) 960 40 CSR Aust (W) 540 20 W R Carpenter (W) 260 5 *ex dividend