Farrier up 35c in late trading
Farrier-Waimak jumped 35c to 450 c in a late sale on the New Zealand sharemarket yesterday. The company is shortly to become New Zealand Equities after an extraordinary meeting on Thursday approved the sale of the ready-mixed concrete business of the firm, the change in the company name, and a new set of company articles to allow it to become an investment firm. Turnover was quiet and the market trend steady. The NZUC industrial index gained 0.37 points to 1282.05. Issues to firm included CBA Finance up 10c. Fletcher Challenge 2c, L. D. Nathan sc, and NZ Forest Products 2c. The rights of NZFP remained at 75c, after their debut on Thursday. New Zealand South British was unchanged at 170 c, but Dominion Breweries, Farmers’ Trading Company, Feltex, and Wattle all eased. Among second line issues, Colyer Watson stood out on a 30c loss to 220. The company recently reached an agreement to take-over W. Sutherland and Company, the Auckland tanning firm. Hume Industries (NZ) was up to 10c to 160 ex bonus and on its share split. Charter Corporation was widely traded in a range of 182 c to 192 c, for a gain of 2c to 185 on the largest parcel traded. However, its turnover was not large. The mining and oil sector was mixed. Horizon’s contributing shares recovered lc to 13, NZ Oil and Gas was steady, but Cue Energy and Petro Taranaki’s contributing shares eased.
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Press, 14 April 1984, Page 25
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245Farrier up 35c in late trading Press, 14 April 1984, Page 25
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