Business THE MARKET Easier trading

Press, 13 March 1985, Page 37

Business

THE MARKET Easier trading

The New Zealand sharemarket continued to drift downwards yesterday, in spite of a tight easing in interest rates. In dull trading Barclays index of industrial shares eased 6.45 points to 1435.18. Total turnover was a moderate 3,741,903. valued at $4,629,850 — of which more than 38 per cent was in mining and oil shares.

Once again falls outnumbered rises more than two to one, but on balance market leaders did slightly better.

The sharemarket was comparatively firm and performed fairly well in the light of the uncertainty over fixed interest securities, high short-term rates and speculation, said Mr Bill McKie, a partner in the Christchurch broking firm Chamberlain Sturge and Co.

There was reasonably strong buying support yes-

terday, he said. The market was slightly weaker yesterday, once again reflecting the high interest rate environment, said Mr Grant Paterson, head of research with Francis Allison Symes and Co., Wellington sharebroker. A positive factor for the market was the announcement that the compensatory deposits would be at 19.5 per cent — lower than most analysts expected, Mr Peterson said. Prices changes were much smaller than recently: more than half of them were only one or two cents. Brierley Investments remained firm as a result of its excellent interim result, and gained 1c to 416 c, with one parcel of 245,300 at a steady 415 c. L.D. Nathan had the best gain among market leaders with a rise of 5c to 430 c; N. Z. Steel put on 3c, a 2c rise was posted by New Zealand Cement, U.E.8., and

ConsEnt 20, 2000 21; 700 Cook Wine 58, 6000 60; 3800 Corplnv 150, 600 152; (100 CoryWS 270); 30,000 Crown 133, 11,100 134, 7100 135; 1000 DIC 132, 1200 135; 9440 Domßrew 182; 1000 Donaghy 210; 1000 EMCO 262, 5100 265 and 300 pf 140; 300 Endeavour 138; 5700 EquitCorp 170, 9500 171, 13.100 172 and 1400 pf 40; 6700 EastDeer 95, 1200 97, 8000 100; 2000 FTC 147, 11,900 148, 16,300 149, 5500 150; 3200 FerNZ 225; 3300' Fleur 54, 7900 55; 2000 First City 130; 7500 Feltex 300 and 2700 16pc pf 270, 500 280; 17,900 FletCh 323, 5900 324, 17,100 325, 100 15pc pf 113, 1100 16pc pf 550 and 45,600 ctb 290; 5600 FandP 365; 5500 Frtways 135; 5000 Fortuna 100; 7100 Genestock 116; 3500 Gen Prop 145; 1800 GBCem 45, 2500 48; 2400 Goodman 308, 17,700 310; 2000 Grovnr T 35; 3300 HB 210; 5500 Grocorp 41, 2000 42 and 2750 opts 13; 300 HBerry 155; 2400 Hortlnd 112 and 400 opts 30; 1700 HumeNZ 117, 8400 119; 300 HuttoNZ 265; 2400 ICINZ 285; 1500 Ind News 265; 40,000 Irv Stern 110, 3600 112; 200 JHlmpey 318; 2000 Jarden 660; 800 Jedi 60, 59,300 61; 11,000 JBurns 90, 1400 91; 500 JWebster 245, 3800 255; 11,600 Kidd Gar 68; 1300 Kingsgate 52 and 200 new 50; 2500 Landmark 50, 4800 51 and 4000 opts 25; 200 LWR 116, 16,500 117; 4000 Lanes 75; 1200 LDNathan 430, 1900 15 ¥2 pc pf

F.T.C. Yates and Progressive Enterprises managed to go 1c higher. Fletcher shares continued their gentle decline ahead of today’s profit announcement, and shed another 2c to add to Monday’s 3c fall, Friday’s 6c drop and Thursday’s 2c decline. Newmans had one of the biggest falls, and lost 8c to once again touch 300 c, while 5c falls were chalked up by N.Z. Forest Products, Ceramco, and Allflex, A.N.Z. Banking lost 3c, as did Mair, and Fisher and Paykel, Goodman, and R. W. Hellaby gave up 2c each. The newcomers, Irvin and Hern, and Eastern Deer, continued to give ground. There was further heavy trading in Kupe options, with 433,000 sold at 11c — down 1c — and 115,200 at a steady 12c. Brokers said the sales probably represented people trying to get leverage, rather than buying into the company.

330 and 100 18pc pf 380; 14,700 Leisurld 45; 4600 LeyGro 90 and 1100 pf 41; 9500 Lion 230; 2000 Lusteroid 200; 4300 Mair 322, 500 325; 11,000 Manßad 140; 9500 Mainstay 56, 26,700 57, 7600 58 and 50,000 opts 15, 8000 16; 600 Marac 212, 900 215; 5200 Masport 137, 1000 138; 50,000 McAlpine 130; 1100 McKechnie 208; 3700 McDowell 250; 200 Mogal 180; 13,620 Montana 175; 2800 Mot Holds 150; 600 Moyes 155; 4100 Natßlood 80, 1000 81; 3400 Natlns 435; 36,500 Neil 165; 1800 Newmans 300, 2600 305, 500 308; 10,400 NZCement 142; 209,106 NZForest 295, 3000 298; 700 NZLL 105; 11,400 NZMarine 107, 1600 108; 1100 NZNews 470; 6000 NZProp 118; 4200 NZRefin 230; 6000 NZSalmon 340; 24,000 NZI 158, 3800 159 and 3300 opts 88; 27,100 NZSteel 228 and 2400 new 210, 100 212; 4300 Northrop 73, 1500 74, 10,000 75; 6100 Northgate 105, 200 107; 500 NthldFM 42 and 200 opts 13; 300 Odlin nts 200; 500 OpioFF 180; 1400 PDL 505; 1000 Pacer 125; 2500 PerryD 75; 5900 Powercorp 85; 1500 ProgEnt 402, 16,700 404, 3000 405; 4000 Qtron 430; 900 RaOra 313, 1200 315; 100 RadiOtago 125; 3000 Reid Farm 155; 2000 Rainbow 123, 21,000 124, 1000 125; 1000 RHellaby 76, 4300 77; 8600 Renouf 115, 200 116, 3300 118; 7912 RepcoNZ 170 and 2100 17pc nts 220; 500 Revertex 270;

RISES New Zealand

FALLS New Zealand

4400 RJones 107, 3000 108, 12,300 opts 65 and 1300 new 100, 3000 102; 36,800 Rothmans 212 and 2500 pf 210; 100 RWSaunders 300; 400 Salmond 320; 1100 Sanford 190; 18,400 Skellerup 178; 4800 Smithßio 250; 500 SmithMkt 400; 17,600 SFM 155; 5200 Steel Tube 245, 5900 246; 600 Taylor 440; 23,500 UEB 158, 5500 160; 200 Unity 320, 6300 330 and 400 pf 260; 20.200 UniTrans 65, 900 67; 720 Unit Pub 960; 10,500 Vishire 135; 25,000 WaikStud 58, 800 59 and 5500 opts 25; 900 Waitaki 186, 16.200 187; 5100 West Mer 430; 700 Wattie 340, 7400 345; 200 Welgas 525; 8100 Will Pron 115; 2500 WHortn 495; 600 WNeil 145, 1200 148; 44,200 Winstone 170; 12,000 Yates 265, 200 266 and 500 12pc pf 180. 800 Bridge Min 14; 21,000 Cue 9, 9000 10 and 104,000 opts 3;

17,000 Goliath 17, 3000 18; 112,000 Horizon opts 4 and 131,000 ctb 10; 443,000 Kupe opts 11, 115,200 12 and 3000 ctb 21, 49,000 22; 1300 LandM 62, 1000 63; 5300 Minßes 30 and 200 opts 10; 4900 NZOG 37, 2000 38; 2700 OilFlds opts 5, 31,000 6 and 151,000 ctb 10; 18,000 PetroTar opts 3 and 21,000 ctb 5, 2000 6; 10,000 SthPet opts 4, 1000 5 and 150,000 ctb 7; 14,000 Spectrum 25 and 11,000 opts 12; 3000 Utdßes opt 10. Special sale.—so,ooo NZI 158.

Price Var’n c c Allegra 85 5 90 1 Brierley . 416 1 Carbordum. . . . 118 3 City Real .... 75 1 Con Metal.... 210 10 Corp Inv FTC 152 150 2 2 Femz 225 2 Fleur 55 1 Grocorp 42 1 Hutton NZ.. . . 265 5 JH Impey .... 318 3 Kingsgate new . LD Nathan . . . 50 430 3 5 18 pc pf. . . . . 380 5 McAlpine 130 10 McConnell .... 250 5 NZ Cement . . . 142 2 NZ Steel . 228 3 Prog Ent 405 1 Rainbow 125 2 Ra Ora 315 3 RJones new . . . 102 2 Taylors . 440 5 UEB . 160 2 Unity . 330 10 Yates 266 1 NZOG 38 1

.Allflex Price Var’n c . . 355 c 5 Alliance . . . . . . 168 4 rts 65 5 .ANZ Bank . . . 315 3 Atlas 215 5 Ak Gas . . 265 5 Baker 350 5 BNZ Fin... . . . 208 2 Ceramco . . . . . . 325 5 Chase 310 2 CCL . . 157 3

Con Ent 20 1 Cooks 58 2 Cory-WS 270 2 (Crown 133 2 DIC 132 3 East Deer 95 5 EMCO 262 3 Endeavour 138 5 Equitcorp 171 1 40 1 Feitex 16 pc pf. . 270 15 F and P Fletcher 16 pc pf Gen Prop Goodman Hort Ind opt . . . Irv Stern J Burns 365 323 550 145 308 30 112 90 52 2 2 20 3 2 2 3 2 1 Kingsgate LD Nathan 1514 pc pf 330 30 Lusteroid 200 5 Mainstay 56 1 opt 15 1 Mair 322 3 Nat Blood 80 2 Newmans 300 8 NZ Forest 295 5 NZI Corp 159 1 NZ Marine 107 1 NZ News 470 10 NZ Steel new. . . 210 2 Nthgate 107 1 Northrop RW Hellaby.... 74 76 4 2 Renouf 116 2 R Jones 107 1 opt 65 2 Salmond 320 10 Smiths Mkt .... 400 5 Utd Trans 65 1 Waitaki 187 3 Cue En 9 1 Kupe opt 11 1 L and M 62 1 Min Res opt. . . . 10 1 Oil Fids opt. . . . 5 1 Petro Tar ctb. . . 6 1 Sthn Pet opt . . . 4 1 Spectrum 25 1