THE MARKET Tenth high in a row

Press, 19 December 1985, Page 34

THE MARKET Tenth high in a row

A little bit of profittaking — specially in Brierley Investments and Chase Corporation, the sharemarket’s darlings of recent days — did not stop Barclays’ index of industrials rising 11.75 points to 193155 for a new high for the tenth consecutive day. Trading was active, as 10.6 million shares changed hands for $15.7 million. Brierley and Chase lost their recent buying support: BIL lost 9c to fall back to 815 c, and Chase closed 12c down at 588 c.

“Another hectic day’s trading,” said Mr David Dott, partner in the Christchurch sharebroking firm Chamberlain Sturge and Company. “Brierleys and Chase came off unexpectedly, and some sectors of the market looked a bit weaker.”

“The high-flyer of the day was Fletchers, which sold up to 360 c on solid volume, while Equiticorp and Apex continued on their merry way,” Mr Dott said. Equiticorp jumped 30c to 450, and Apex added 10c to 410.

Other gains among the leaders were ANZ Banking Group, 8c to 290, Carter Holt Harvey, 5c to 285, Dominion Breweries, 5c to 290, Feltex 3c to 285, Goodman 3c to 365, Winstone 3c to 165, and NZLlcto 188. Fisher and Paykel, after putting on 50c the previous two days, slipped 3c to. 312 and other leaders to ease were Wattie 2c to 348, Progressive Enterprises 2c to 350, FTC 1c to 246 and

NZFP 1c to 246. Elsewhere, Cromwell put on 20c to 400 for a 50c rise in two days and two of three listed companies under the Leyland banner firmed — Leyland Investments 15c to 265 and Leyland Growth 14c to 132. Newmans put on 12c to 280, while up 10c each were James Hardie Impey to 180, Mair to 280, NZ Salmon to 570, Waste Management to 185, and Wilson Neill to 260.