Bears stay in command
Investors switched to oil issues yesterday, as the bears continued to dominate trading industrials on the New Zealand Stock Exchange yesterday. Falls outnumbered rises more than two to one, and the NZUC industrial index dropped 19.54 points to 1277.95. The index has lost 75.23 points in the last three trading sessions. Issues to fall heavily included ANZ Banking Group down 15c, Brierley Investments 20c, CBA Finance 19c ex bonus, EMCO 10c, L. D. Nathan 12c, and New Zealand South British 10c. However, oil issues firmed in spite of the recent adverse reports from the oil exploration programme off the coast of Taranaki and in the Great South Basin, off Stewart Island. Second-line issues stood out among the rises. Manthel gained 35c, Rex Consolidated 17c, Salmond 20c, and Scott Group 15c. Ceramco was the only market leader to firm. The number of issues traded was down on earlier sessions, and the closing quotations from the Christchurch Invercargill Stock Exchange were notable for the number of issues which were unquoted.
RISES New Zealand Price Var’n c c Allflex 555 5 A Barnett xdxb. . 330 2 Aurora 435 5 Ceramco 227 2 City Real 110 10 Endeavour 130 5 ICI NZ 430 5 Landmark pf . . . 38 2 Mainstay 48 3 Manthel 375 35 Nat Blood 79 1 Neil Holds 148 3 NZ Cement . . . . 130 2 NZFF 232 2 NZIG 660 10 Regina 165 10 Rex Cons 322 17 Salmond 470 20 Scott Grp 150 15 W Horton 825 5 W Neill 170 1 Bridgevale 21 1 Coal Energy. . . . 22 1 Crusader 19 1 Cue Energy . . . . 19 4 Horizon ctb ... . 12 1 opts 7 3 Kupe ctb 8 1 Oil Fids opts . . . 8 2 Petro Tar opts . . 5 1 Utd Res 53 3 FALLS Alcan 270 5 Alliance 350 15 AM Bisley 190 5 Andas 160 5 ANZ Bank 430 15 Atlas 150 2 Bendon 310 30 Brierley 380 20 ctb 345 18 CFM 380 5 Carter Holt . . . . 365 5 Cavalier 170 10 CBA Fin xb. . . . 390 19 Chase 240 15 Chemby 145 3 CCL 140 5 Cons Metal . . . . 220 5 Dalgety 175 5 DIC 155 5 pf 127 8 D Wallace 115 3 84 nts 115 10 DRG NZ 115 3 East Gas 150 5 Ebos 273 2 EMCO 265 10 FTC 150 10 400 10 Feltex 220 2 16 pc pf 220 15 First City ctb. . . 55 3 Fisher Payk. . . . 760 5 Fletcher 295 5 16 pc pf 500 15 ctb xd 230 6 Genestock 105 3 Golden Bay . . . . 63 1 Goodman 425 5 Hallenstein 375 15 Inv Fin 75 5 IW-Dow 350 5 JH Impey 412 1 J Webster 255 5 Kidd Garr 75 3 Kingsgate 58 2 Landmark opts. . 40 2 LWR 200 5 LD Nathan . . . . 323 12 15%pc pf . . . . 300 5 Mainstay opts. . . 16 1 Marac rts 105 5 McKechnie 280 10 Montana 180 10 Morr-PIM 525 5 Mtr Holds 145 10 Moyes Nat Ins 205 380 5 5 NZ Prop 100 5 NZSB Grp 165 10 ctb 115 5 NZ Steel . 310 5 new . 290 10 Odlins 130 2 Progressive . . . . 415 5 rts 165 35 Ra Ora . 220 20 R W Hellaby . . . . 132 3 Repco NZ R Jones 135 5 . 108 7 80 5 Rotlimans * . 290 5 Sanford . 515 15 Smith Bio . . . . . . 220 10 Teltberm 400 5 UEB 170 5 Visionhire . . . . . 155 5 Winstone . 200 2 16 pc pf. . . . 100 5 Crusader opts. . 10 1 LandM 50 2 Oil Fids ctb. . . 10 1 xd ex dividend xb ex bonus >
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Press, 6 March 1984, Page 26
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585Bears stay in command Press, 6 March 1984, Page 26
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