Strong finish by N.Z. market
The New Zealand sharemarket ended the week on a strong moderately active note yesterday. The NZUC industrial index rose 15.33 points to 1363.79.
Market leaders were up substantially, including NZ Forest Products on a gain of 10c ANZ Banking Group 10c, Feltex 4c, and Fletcher Challenge sc. Brierley Investments, Dalgety Crown, and Odlins were unchanged. Rothmans, Wattie and Winstone were among the few leading issues to ease. Chase Corporation was among the second-line issues to recover, gaining 25c to 280 c. The company announced a five-fold increase in profits earlier this month. Ashby Bergh, the Christchurch building supplies and hardware merchant, also stood out on a 25c gain ex dividend to 525 c. Among the property issues, Robt Jones Investments was widely traded for a gain of 10c, but Grosvenor Properties was untraded in spite of announcing a decline in its trading profit. Cavalier Carpets firmed 2c to 202 on its improved result, and McAlpine Industries stood out on a 7c gain. The mining and oil sector was weaker in spite of its NZUC index’s being ahead 0.03 points to 74.84. Mineral Resources and United Resources were firmer, but Bridgevale, Coal and Energy. NZ Oil and Gas, and Oil Fields contributing shares were easier.
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Press, 19 May 1984, Page 23
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209Strong finish by N.Z. market Press, 19 May 1984, Page 23
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