Selling pressure increases
Share prices came under increasing selling pressure on a busy New Zealand sharemarket yesterday. The NZUC industrial index lost 13.33 points, and this was reflected in sharp falls among the market leaders. Issues to ease included Fletcher Challenge down 13c, Feltex 10c, Winstone Bc, and Farmers’ Trading Company, Goodman Group, and Rothmans 7c each. Special interest issues stood out among the rises. Suckling, the subject of a bid from Brierley Investments, rose 57c to 325 c, and Reid Farmers up 90c to 400 c after Dalgety Crown announced it was seeking 24.9 per cent of the company. The Colonial Motor Company also was prominent on a gain of 35c. Some oil issues showed signs of recovering, but the general tone was mixed.
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Press, 9 December 1983, Page 10
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125Selling pressure increases Press, 9 December 1983, Page 10
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