NZ Forest loses gains
NZ Forest Products lost all of this week’s gains when it dropped 30c to 625 c on an easier, moderately active New Zealand sharemarket yesterday. The issue finished at 625 c, its closing price on Friday when it had announced a proposed share split. CBA Finance fell a further 10c to 450 c, adding to Tuesday’s decline of 30c after news that its managing director, Mr A. R. Hawkins, had left to form a new finance company. However, Marac, which lost three of its top executives to the same new finance company, yesterday firmed 10c to 310 c. Rex Consolidated rose 17c to 317 c on its “don’t sell” notice, Alcan and Rheem New Zealand firmed on proposed bonus issues, and Progressive Enterprises stood out on a loss of 20c. The NZUC industrial index dropped 7.34 points to 1353.18.
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Press, 1 March 1984, Page 22
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143NZ Forest loses gains Press, 1 March 1984, Page 22
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