Indicators

Press, 14 October 1985, Page 35

Indicators

1 Business LONDON Inflat boo NZPA-RES London Equity prices in London rallied in the latter part of last week after a dull start with sentiment helped by a forecast by the Chancellor of the Exchequer, Mr Lawson, that inflation should decline below 4 per cent by the middle of next year. The equity market showed little or no reaction to the 0.3 per cent rise in September producer prices, the 0.1 per cent decline in retail prices or the 1% per cent September rise in sterling M3 (total) money supply. The money supply data, however, had an adverse effect on Government bonds, which showed scattered falls of around % point at the longer end. The FT100 index rose 9.3 points to 1322.3 while the FT30 rose 11.0 points to a record 1027.5, which compares with the previous record close of 1024.5 reached on January 22, and a record peak of 1024.8 points on September 9. Among leaders, BTR rose 23p to 386, GKN 16p to 253, Blue Circle 20p to 541, GEC 12p to 164, and Hawker 18p to 401, but Hanson Trust lost 6p to 200 on worries about the outcome of the SCM bid, and ICI fell 8p to 639. Imperial Group added 3p to 210 after announcing it would not join the Elders IXL-led consortium bid for Allied Lyons. Allied fell 16p to 275 while Elders rose 3p to 196. Distillers ended 3p higher at 425 after reports that the Takeover Panel is insisting that Argyll Group cannot launch its proposed £1.5 billion bid for Distillers before December. Argyll was lOp lower at 333. ion fo >sts pr The SGB Group jumper 60p to 222 after C. H. Beaze said it would tender for 2 per cent of SGB on the bast of 46 new Beazer shares fo every 100 in SGB. Beazei lost 8p to 460. The Carlton Communica tions talks with Thames Television’s major share, holders, Thorn EMI anc BET, on acquiring Thames pushed Thorn and BE! higher initially, but botl issues came off the highs after the Independen Broadcasting Authority blocked the bid. Thom lost a net 13p to 354, but BET rose 21p to 333. Carlton was suspended at 825p on Mon day, returned from suspen sion at 790 on Friday am ended the week at 800. BET also made a £6.2M bid for G. W. Sparrow, which jumped 32p to 71. Sparrow rejected the BET offer. Elsewhere on the bid scene, Abbey PLC added 12c to 102 after rejecting a bid approach from French Kier up 23p at 212. Owen rose 35p to 450 after Clayform Properties made a £38.3M bid for the company. Owen rejected the bid and Clayform, which also released interim results ended 5p higher at 213. In the engineering sector Westland rose 18p to 83 anc British Aerospace gained 35p to 460 on news that India is close to contracting to buy 21 Westland helicopters and 11 Aerospace Sea Harrier jump-jets, worth a total of about £235M. Banks were generally firmer with Barclays up 17p at 399 and National Westminster 22p better at 659. | Briefs Bid for Gow Nicholas Kiwi Australasia, Ltd, the Australian remnant of the international operations of Nicholas Kiwi Ltd, is to offer 330c a share for all of the issued capital of a food and detergent group, R. M. Gow and Company, Ltd. The bid, which values Gow at ?14.74M, is NKA’s first move to expand its base since its formation from the Australian operations of Nicholas Kiwi, Ltd, late last year. N.Z. Manager A New Zealander has been appointed general manager of Burroughs, Ltd, in New Zealand. Mr Brian Clark is returning after two years as a senior marketing manager with Burroughs’ headquarters staff in Detroit While there he was responsible for-the AmericasPacific region, which includes this country. Before his Detroit assignment, he was the marketing director for Burroughs, New Zealand, and had been with the company for 10 years. 27.32% VIP funds last 12 months after tax growth. Proceeds paid to you - TAX'FREE as we pay the tax for you. GOVERNMENT LIFE Ph 488*819 for further details I B. Wallace IS. Shrigley , 2i % ' Through the purchase of ? contributory interests ; Secured by INSURED First Mortgage - for, 2-3 years - Minimum Investment $1000 & Prompt quarterly Interest payments by direct credit For brochure without obligation: Write Box Phone Auckland 258 34419 Hamilton 1488 395152 Wellington 3678 724808 Christcnurch 856 64399 ALLIED MORTGAGE GUARANTEE CO. UD Professional Mortgage Managers and Insurers Indicators New York—Dow Jones Ind. Tsp. T’over Aug. 16 1312.61 666.90 86,810,000 Sept 13 1307.68 658.47111,390,000 Oct 8 1325.49 640.80 97,170,000 Oct 9 1326.72 642.56 99,140,000 Oct 10 1328.07 642.32 90,910,000 Oct 11 1339.94 647.47 96,370,000 London.—‘Financial Times.’ FT 30 FT 100 Govt Aug. 16 975.2 1299.1 83.70 Sept. 13 1011.9 1308.8 83.15 Oct. 8 1007.2 1303.3 84.02 Oct. 9 1007.0 1308.1 84.08 Oct. 10 1017.8 1314.1 84.10 Oct. 11 1027.5 1322.3 84.14 Asia.—Hong Kong ('Hang Seng*),

1 Business LONDON Inflat boo NZPA-RES London Equity prices in London rallied in the latter part of last week after a dull start with sentiment helped by a forecast by the Chancellor of the Exchequer, Mr Lawson, that inflation should decline below 4 per cent by the middle of next year. The equity market showed little or no reaction to the 0.3 per cent rise in September producer prices, the 0.1 per cent decline in retail prices or the 1% per cent September rise in sterling M3 (total) money supply. The money supply data, however, had an adverse effect on Government bonds, which showed scattered falls of around % point at the longer end. The FT100 index rose 9.3 points to 1322.3 while the FT30 rose 11.0 points to a record 1027.5, which compares with the previous record close of 1024.5 reached on January 22, and a record peak of 1024.8 points on September 9. Among leaders, BTR rose 23p to 386, GKN 16p to 253, Blue Circle 20p to 541, GEC 12p to 164, and Hawker 18p to 401, but Hanson Trust lost 6p to 200 on worries about the outcome of the SCM bid, and ICI fell 8p to 639. Imperial Group added 3p to 210 after announcing it would not join the Elders IXL-led consortium bid for Allied Lyons. Allied fell 16p to 275 while Elders rose 3p to 196. Distillers ended 3p higher at 425 after reports that the Takeover Panel is insisting that Argyll Group cannot launch its proposed £1.5 billion bid for Distillers before December. Argyll was lOp lower at 333. ion forecast sts prices The SGB Group jumped Insurances were also firn 60p to 222 after C. H. Beazer and showed little reactio said it would tender for 25 to a statement by the Brit per cent of SGB on the basis ish Secretary of Social Sei of 46 new Beazer shares for vices that he was reconsid every 100 in SGB. Beazer ering the plan to abolish th lost 8p to 460. State earaings-related pen The Carlton Communica- sion scheme. Britannic ros tions talks with Thames 24p to 782 while Roya Television’s major share- added 17p to 683. holders, Thorn EMI and Oils were dull on wea BET, on acquiring Thames, spot crude oil prices wit pushed Thorn and BET BP ?P off at 541 and She higher initially, but both 12p lower at 688. issues came off the highs Sears lost 3%p to 108V after the Independent after reporting interin Broadcasting Authority results this week, blocked the bid. Thom lost a South African gold share net 13p to 354, but BET rose ended little changed on th 21p to 333. Carlton was week as the bullion pric suspended at 825p on Mon- continued steady. Th day, returned from suspen- Kruger Day holiday in th sion at 790 on Friday and Cape on Thursday also con ended the week at 800. BET tributed to the lack of inves also made a £6.2M bid for tor interest, dealers said. G. W. Sparrow, which Randfontein was up % p jumped 32p to 71. Sparrow a dollar at 76% and th rejected the BET offer. light-weight issue, Harties Elsewhere on the bid rose 3c to 388. In financials scene, Abbey PLC added 12c Cons Gold added 7p to 4& to 102 after rejecting a bid while Anglos was unchanget approach from French Kier, at $11%. De Beers ended th< up 23p at 212. Owen rose week 10c higher at 440c. afte i.,S, ayfOr "? Ooslffi P"ce. »» u» SW tor tte com X l ’“ 8e "" pany. Owen rejected the bid, Ampol 124%, Allied Lyons and Clayform, which also 275, ANZBank 257%, BP 541 released interim results, BHP 433%, BAT 271, BritishOi ended 5p higher at 213. Corp 213 (previous - 210) In the engineering sector, I 91, 3% Wpcfland iRn fn rq and 36%, Dalgety 452%, DeBeers S ao.-nnd 440 us - cents - Distillers 425 British Aerospace gained ElderSmith 195%, FletcherC 35p to 460 on news that 112%, Glaxo 13-29/64, ICI 639 India is close to contracting LloydsBank 424, Marks and Sp to buy 21 Westland helicop- 166, NthBH 123%, NZI 70%, P ters and 11 Aerospace Sea and O 440 Plessey 129 PruHarrier iumn-iets worth a dential A 712, Reedlnt 691 “ wk Banks were generally 555 shellTr 686, ThornOrd 354 firmer with Barclays up 17p TozerKM 52, Transport Deve at 399 and National West- 120, Unilever 10-17/32, Westminster 22p better at 659. emMin 191%, Westpac 260%. (Briefs 27.32% VIP funds last 12 months after tax growth. Proceeds paid to you - TAX'FREE as we pay the tax for you. GOVERNMENT LIFE Ph 488*819 for further details I B. Wallace r,.. S. Shrigley , Bid for Gow Hooker sells Nicholas Kiwi Australasia, Hooker Corporation has sold Ltd, the Australian remnant of its 7 per cent holding in James the international operations of Hardie Industries, removing Nicholas Kiwi Ltd, is to offer the incentive for Hardie to 330c a share for all of the launch a bid for Hooker. Harissued capital of a food and die was believed to be on the detergent group, R. M. Gow verge of a take-over attempt and Company, Ltd. The bid, following its announcement which values Gow at ?14.74M, that it had built a 19.7 per cent is NKA’s first move to expand stake in Hooker. Market its base since its formation sources said Hardie built its from the Australian operations stake in Hooker as a defensive of Nicholas Kiwi, Ltd, late last move against a possible year. Hooker bid for Hardie. N.Z. Manager A New Zealander has been Stevens move appointed general manager of Stevens KMS Corporation, Burroughs, Ltd, in New Zea- Ltd, has given formal notificaland. Mr Brian Clark is return- tion of Its take-over of all ing after two years as a senior shares in Stevens Corporation, marketing manager with Bur- Ltd. Under the terms of the roughs’ headquarters staff in offer, Stevens KMS will give Detroit While there he was two of its new shares or 280c responsible for-the Americas- cash for every Stevens ordinPacific region, which includes ary share. One new Stevens this country. Before his Detroit KMS share, or 70c, will be assignment, he was the mar- given for every two Stevens keting director for Burroughs, preference shares. The books New Zealand, and had been close on October 21 to deterwith the company for 10 years. mine entitlements. 21~ ' Through the purchase of ? contributory interests ; Secured by INSURED First Mortgage - for, 2-3 years - Minimum Investment $1000 & Prompt quarterly Interest payments by direct credit For brochure without obligation: Write Box Phone Auckland 258 34419 Hamilton 1488 395152 Wellington 3678 724808 Christchurch 856 64399 ALLIED MORTGAGE GUARANTEE CO. UD Professional Mortgage Managers and Insurers T„ i ~ 4- Singapore (Shares Index), Tokyo Indicators Ne ” y SS & ft “ is “ S" Aue 16 1312 61 66690 M R10 0M 8 160553 277 ' 52 12 ' 835 - 21 Sent 13 1307 68 658 47111 390 600 9 1587.99 278 - 70 12,857.20 S 8 132549 64080 97® Oct 10 1589.13 277.90 closed St 9 IS S 99,® 11 1583 55 276 58 12 ‘ 94992 Oct io 1328.07 642.32 90,910,000 Gold and silver Oct 11 1339.94 647.47 96,370,000 Gold prices, in JUS per fine , ounce, from New York (closing London.—Financial Times.’ mid-rate) and London (3 p.m. FT 30 FT 100 Govt fix). Silver spot fix price. LonAug. 16 975.2 1299.1 83.70 don. Sept. 13 1011.9 1308.8 83.15 N.Y. London Silver Oct. 8 1007.2 1303.3 84.02 Aug. 16 338.85 335.35 6.34 Oct. 9 1007.0 1308.1 84.08 Sept. 13 318.85 321.30 6.05 Oct. 10 1017.8 1314.1 84.10 Oct. 9 325.45 326.55 6.28 Oct. 11 1027.5 1322.3 84.14 Oct. 10 325.85 325.50 6.23 Asia.—Hong Kong (‘Hang Seng*), Oct. 11 327.45 325.60 6.22