Market turns bearish
The recent easy trend turned bearish on an active New Zealand sharemarket yesterday, as market leaders fell sharply. The N.Z.I’.C. industrial index declined 6.20 points to 646.23, taking its losses for the last three trading sessions to 14 points. Among the leading companies. Dalgety New Zealand fell 10c, Carter Holt sc, U.E.B. 4c (ex bonus), and Fletcher Challenge and N.Z. Forest Products 3c each. Among the rises. Andrews and Beaven, Marac, Wattie, and Winstone stood out on 1c gains. Yates Corporation recovered 5c from its 50c fall on Wednesday in response to its bid for Allied Farmers'. The preference shares of Allied Farmers' rose 80c to 515 c. but the ordinary shares lost sc. Taylors Drycleaning firmed 20c on its higher profit and bonus plans.
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Press, 18 June 1982, Page 16
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128Market turns bearish Press, 18 June 1982, Page 16
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