Weak finish to NZ market
The New Zealand sharemarket yesterday ended the week down on its close for the previous week, after coming close to peak for the year during the last five trading sessions. The NZUC industrial index dropped 16.03 points to 1375.21. NZ Forest Products lost 6c to 352 in spite of reporting a much better result in the latest year. However, the profit may have already been largely discounted. UEB may have been in a similar position with its result, the issue falling 5c to 175. Other market leaders to lose ground included Brierley, down Bc, Fletcher Challenge, 10c, New Zealand Steel, 10c, and Wattle, sc. Among the newly listed issues, Fleur fell 3c to 72 after trading in a range of 63c to 75c. The flower exporter rose sharply in busy trading on Thursday, gaining 14c to 75. Laurensons Bakery, which made a quiet debut on Thursday, rose 10c to 170 in busy trading. The float was less than IM 50c shares carrying a 50c premium, which was mainly confined to the Otago region. Of the two other issues listed during the week, Fortuna lost 10c to 140, and Rainbow was steady at 65c. Cavalier Carpets eased 6c to 190 ahead of the news of the merger proposals with E. Lichtenstein, the Auckland wool broker. E. Lichtenstein was unchnaged at 280 c.
Chase Corporation rose 15c to 295 after reporting a big increase in earnings. Genestock firmed 3c to 145 after being actively traded between 142 c and 155 c, and the Christchurch Press Company remained at 255 c after announcing a steady result. Neil Holdings stood out on a gain of 9c to 164.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19840512.2.111.18
Bibliographic details
Press, 12 May 1984, Page 25
Word Count
279Weak finish to NZ market Press, 12 May 1984, Page 25
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.