THE MARKET Prices mixed in dull trading

Press, 12 November 1985, Page 26

THE MARKET Prices mixed in dull trading

Leading shares closed a little firmer on balance yesterday on a quiet New Zealand sharemarket, where just 4 million shares changed hands for $6.7 million, as Barclays* index of industrials edged up 0.91 points to 1639.86. The turnover was boosted by off-market sales of more than one million. The biggest off-market sale was in NZ Forest Products, with 600,000 shares selling at 280 c each. As with the large special sale on Friday, NZFP sold higher off market than on. On the market the shares closed 1c up at 276 c.

Falls among the leaders, although fewer, were larger: Wattie lost 15c to 375 on small volume, Progressive

Enterprises 5c to 320, UEB 4c to 128, Winstone 2c to 148, and ANZ 1c to 261. Rises of 2c each were chalked up by Carter Holt at 210 and Cable Price Downer at 290 after announcing a one-for-five cash isue and a 10 per cent increase in interim profit. The blue chips, Fletcher Challenge at 293, and NZI at 177 each put on one cent. Equiticorp gained 9c to 274 and its close ally, Chase, firmed 5c to 380. Goodman also rose 5c to 365, with 100,000 shares in a special sale at 360.

Fisher and Paykel continued its price rebound since last week’s reduced interim profit announcement, rising 3c to 245, and another 100,000 also went

through in a special sale 5c below the market price. Elsewhere, New Zealand Goldfields’ price continued to yo-yo and finished 55c lower at 415 after trading in a range between; 400 and 490. Its descent helped push Barclays’ mining index down 11.08 points to 132.17.

A special sale of 322,000 Allflex Holdings shares, the subject of partial bids from Unity Group and Leyland Capital, was recorded yesterday at 280 — 5c above its unchanged market price. Euro-National at 300 rose 15c, while Wilson and Horton put on 10c to 660. Shedding 10c each were Grosvenor at 180, Lusteroid at 200, Welgas at 610, and Wormaid at 170. . ■