Prices fall

Press, 14 November 1984, Page 38

Prices fall

Although rises outnumbered falls 61 to 47, market leaders eased in active trading on the New Zealand Stock Exchange yesterday, as profit-takers took advantage of the higher prices after Thurs- • day’s Budget. The Barclays industrial index lost 4.47 - points to 1316.86, in contrast to the gain of 42.22 points in the previous two trading sessions.

NZ Forest dropped 8c to 320 c, the price it had been at before the Budget was announced. Brierley Investments also lost Bc, as did Fletcher Challenge’s contributing shares. Fletcher ordinaries fell 7c. Going against the easier trend were Farmers’ Trading

Cbmpany> Lion Breweries, and Wattie. McConnell Dowell stood out on a gain of 20c ahead of its profit result, and D. McL. Wallace rose 4c to 140 c after the directors issued a “don’t sell” notice. Fortuna improved 4c after making a maiden profit announcement A special sale of Cable Price Downer rights at 5c stood out against ordinary trading of 1c each. The mining and oil sector

was firm and active; its Barclays index firming 0.91 points to 78.40. Oil issues were busy after the announcement of a new drilling programme. Almost 500,000 Horizon options changed hands, and the issue closed 1c up at 7c, and Cue options were also busy.