Bears cut into gains
Share prices fell sharply in busy trading on New Zealand stock exchanges yesterday, as the bears cut into the big gains made earlier in the week. The N.Z.U.C. industrial index lost 7.21 points to close at 772.79, after it had gained 22.73 points in two sessions earlier in the week. Market leaders to fall included BNZ Finance down sc, Farmer’s Trading Company 6c, Fisher and Paykel 13c, Fletcher 6c, N.Z. Forest Products lc, and Winstone 3c. Among issues to rise were Canterbury Frozen Meat up sc, and Associated British Cables 10c, after its bright start to the new financial year. Alliance Textiles, which accounted for more than 20 per cent of the total market turnover, rose 2c. Of interest was a special sale of 80,712 Christchurch Press shares at 235, 15c below the ruling market price.
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Press, 7 May 1983, Page 22
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140Bears cut into gains Press, 7 May 1983, Page 22
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