Rally slows
Fletcher Challenge rose 12c to 227 c on another busy, firm New Zealand sharemarket yesterday, after the news that the strike at Tasman’s Kawerau pulp mill may end on Monday. Although the N.Z.U.C. index gained, a further 3.06 points, there were signs of profittaking in trading. Market leaders to ease included Crown, EMCO, Endeavour, and Southland Frozen Meat, but N.Z. Forest Products and New Zealand South British were steady. New Zealand Property Trust traded for the first time, selling between 117 c and 122 c. The mining and oil sector came under selling pressure, NZ Oil and Gas, Cue Energy, and United Resources falling sharply.
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Press, 28 May 1983, Page 18
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107Rally slows Press, 28 May 1983, Page 18
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