London market firm
Share prices on the London; Stock Exchange closed firm; on end-of-account trading' last week, on news of the optimistic report by the Confederation of British Industry, and the higher exchange rate for sterling.
No liability
After submissions by the United Building Society of Christchurch (permanent) to the Reserve Bank of New Zealand, advice has been received that the society will not be required to absorb the apparent excess profit earned during the financial year ended March 31, 1976, and accordingly has no contingent liability in this connection.
Kanieri gold dredge
Amoil N.Z. Ltd reports that the Kanieri gold dredge recovered 352 ounces (10,951 grammes) of bullion last month from 2-j.OOO yards treated in 508 hours.
Oils were mostly steady, and banks finished unchanged. but mining shares were easier, and golds fell up to 50 points because of concern over the situation in South African black townships. The Australian sector was generally weaker, because of the dollar premium and the general weakness of A .stralian markets. B.H.P. gained sp, after lOp at the outset, on news of its purchase of Burmah Oil’s holding in Woodside-Burmah Oil and after a proposed S9BM rights issue. WoodsideBurmah gained 2p while Burrnah Oil eased a penny. Closing prices on Friday of a selection of shares were:— Ampol, 67; A.N.Z., 483 J; N.S.W., 542 J; 8.H.P.. 790: Dalgety, 2351; Elder Smith. 2124; Lloyds Bank, 1971; Mt Lyell, 80; Challenge, 1691; Nth 8.H.. 185 J; Plessey, 78; R.T.Z. ord., 220 and rigd, 201; B.H. Sth. 212 J; Trans. Dev., 512; West Mining. 173 J: 8.A.T., 2671; Distillers, 1304; Glaxo. 3671; ICI. 352; Marks and Spencer. 100: P and O, 103; Prudential ‘A.’ 120: Reed International, 224 J; Shell Transport, 4214; Unilever. 425; War Loan. 26-1/16.
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Bibliographic details
Press, 9 August 1976, Page 10
Word Count
291London market firm Press, 9 August 1976, Page 10
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