Sovereign trades
Sovereign Gold Mines ordinary shares firmed lc to 6c on a quiet New Zealand Stock Exchange yesterday, when 30,000 shares changed hands. A further 10,000 shares changed hands at sc. The quotation of both Sovereign’s ordinary shares and options were suspended on July 13. Since that date the only other trading in Sovereign was in options on August 9. The market appeared to be hit hard by the “opening of the books” on the New Zealand economy. The Barclays industrial index dropped 18.64 points to 1227.91. NZ Forest Products lost 11c as it was revealed at the annual meeting that revaluation of its lands could prove costly at the “bottom-line.” Carter Holt and CBA Finance fell 10c each, Fletcher Challenge 6c, and Goodman sc. Ceramco, Fisher and Paykel, and UEB went against the weak trend. Ajax fell 20c after reporting a modest profit increase last week, but Walker and Hall gained 15c to 615 c, its 100 c shares being split into 50c units on Tuesday.
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Press, 31 August 1984, Page 9
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168Sovereign trades Press, 31 August 1984, Page 9
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