Stock-exchange setback
The combination of a possible outbreak of foot-and-mouth-disease in South Canterbury, and problems for Winstone, Ltd, one companies in.-New Zealand, of the main public industrial companies in New Zealand, caused a sharp setback on New Zealand, stock exchanges yesterday. The possible outbreak of the disease only intensified the sharemarket, after a surfeit of recent: good news for investors. ' : Among meat .and farm-as-sociated companies yesterday, the shares' of Waitaki N.Z. Refrigerating, Ltd, and Allied Farmers’ Co-oper-ative, Ltd, lost iQc each and
• Fletcher Challenge Ltd, . which has the big Wrightson _ NMA stock and station divi- • sion, lost 11c. The chairman of the • Christchurch . Invercargill , Stock Exchange, Mr D. S. 1 Dott, said that buyer quota- , tion for the shares of the i Canterbury Frozen Meat - Company Ltd, had been lowered 10c to 270 c in the aff temoon, but he thought* that I the market had shown signs - of steadying late in the day. r At present it would appear that the , liquidity - problems - of Winstone would -be the more immediatexoni cem for investors, but it is 1 certain that’ an agricultural - disease will- not be easily Ijdismissed,
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Press, 13 February 1981, Page 4
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188Stock-exchange setback Press, 13 February 1981, Page 4
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