Indicators

Press, 14 December 1985, Page 25

Indicators

TAG issue TAG Corporation, Ltd, has agreed to issue 300,000 pro; perty link shares of 40c each at a premium of 29c as part consideration for the acquisition of a 26.7 per cent interest in Industrial Products, Ltd. The new shares will rank equally with the property link shares already issued and will qualify for the interim dividend. They will bring the total number on issue to 2,171,603. Tag originally issued property link shares in June at 60c each. RCA merger General Electric Company (GEC) and RCA Corporation, both United States companies, have agreed to merge. GEC is offering JU566.50 a share for common stock in RCA, making the friendly merger worth $6.28 billion. GEC says that after the merger it will be generating about 80 per cent of its earnings from technology and services. RCA’s broadcast division includes the NBC television network, three radio networks, five television stations, and three AM and five FM radio stations. In 1984 GEC’s sales were $27.98 and profits of $2.38, and RCA’s equivalent was SIO.IB in sales and S34IM in profits. McConnell buys McConnell Dowell Corporation has acquired a 14.9 per cent shareholding in T. O’Connor Holdings, a public company registered in South Australia. The directors of McConnell Dowell have registered an application with the Australian Foreign Investment Review Board for approval to extend their holding to 30 per cent. T. O’Connor Holdings is a diversified heavy engineering group.

N.Z. market Rises Falls T’over Dec. 9 73 57 15,108,840 Dec. 10 86 52 6,966,086 Dec. 11 82 42 14,100,308 Dec. 12 94 34 8,248,409 Dec. 13 65 52 4,798,143 Indices Barclay’s Base 100, January 21 1957. Ind. Min Dec. 9. .... 1783.10 156.06 Dec. 10 .... 1788.06 171.57 Dec. 11 .... 1820.02 169.33 Dec. 12 .... 1860.30 170.07 Dec. 13 .... 1864.71 167.23 Reserve Bank Calculated at noon. 1000, January 1, 1968. Base, Y'day 6763 Prev. day (Dec. 12) 6709 Last week (Dec. 6) 6796 Last month (Nov. 13) 6008 Last year (Dec. 13) 5281 Overseas Australia Rescs Ind. All ord. Oct. 18 670.0 1506.7 1035.2 Nov. 13 644.8 .1483.0 1010.3 Dec. 11 616.7 1452.6 980.7 Dec. 12 612.5 1451.3 977.7 Dec. 13 610.6 1450.2 976.0 Gold O/G Retail Oct. 18 949.0 696.5 1528.6 Nov. 13 941.4 660.4 1501.6 Dec. 11 838.9 600.0 1465.1 Dec. 12 825.8 597.1 1463.2 Dec. 13 914.3 592.6 1447.2 New York—Dow Jones Ind. Tsp. T’over Oct. 17 1369.29 659.76117,360,000 Nov. 12 1433.60 684.11170,800,000 Dec. 10 1499.20 703.77150,000,000 Dec. 11 1511.00 715.12180,000,000 Dec. 12 1511.24 710.52170,540,000 London.—‘Financial Times.’ FT 30 FT 100 Govt Oct. 17 1043.3 1335.7 84.33 Nov. 12 1074.6 1381.6 83.25 Dec. 10 1115.7 1389.5 82.81 Dec. 11 1103.7 1377.4 82.74 Dec. 12 N/A N/A N/A

Asia.—Hong Kong (Hang Seng’), Singapore (Shares Index), Tokyo (Av. 25). H.K. S’pore Tokyo Oct 17 1624.79 275.55 13,021.14 Nov. 12 1730.15 274.99 12,735.08 Dec. 10 1728.29 243.81 12,850.95 Dec. 11 1723.05 241.74 12,972.00 Dec. 12 1740.40 241.06 13,050.28 Foreign currency Rates at 3 p.m. yesterday as quoted by the B.N.Z. TT buy TT sell Australia 0.7795 0.7715 Can. 0.7457 0.7357 Fiji 0.5924 0.5807 H. Kong 4.1911 4.1081 Japan 108.4300 106.28 Singapore 1.1375 1.1150 Sterling 0.3735 0.3675 Switz. 1.1327 1.1102 U.S.A. 0.5370 0.5270 W. Germ. 1.3514 1.3240 Money rates Overnight rates collated by the Reuters Economic Service in Wellington at 3 p.m. yesterdav were:— Call deposits: 26.00. Commercial bills: 90 days. 18.95. Certificates of deposit 90 days, 18.85. Gold and silver Gold prices, in $US per fine ounce, from New York [closing mid-rate) and London (3 p.m. fix). Silver spot fix price, London. N.Y. London Silver Oct. 16 323.85 323.65 6.22 Nov. 12 325.75 323.10 6.08 Dec. 10 317.95 317.00 5.81 Dec. 11 317.35 315.50 5.79 Dec. 12 317.35 317.50 5.77 Metals London, Dec. 9 Buyer Seller £a ton £a ton Copper .... 981.00 981.50 Tin suspended Zinc 473.00 474.00 Lead 267.50 268.00 Aluminium. . 730.50 731.00 Nickel 2790.00 2800.00