THE MARKET Redvale joins list

Press, 14 January 1986, Page 30

THE MARKET Redvale joins list

Redvale Standardbreds joined an easier New Zealand Stock Exchange yesterday, on the day that another issue, Marac Holdings, was delisted. The horse issue’s 50c shares, which carried a further premium of 45c, sold at 130 c on a small turnover. National Bloodstock, the firm that sponsored the new issue, and which owns a majority interest, fell 5c to 300 c, while another issue it helped list, Euro-National, continued to firm. Market leaders continued to fall under profit-taking, with the Barclays industrial index easing 1.88 points to 1932.02. However, falls just edged rises 62 to 60. Mr John Egden, a partner in Egden Wignail and ComK, the Christchurch Jr, said there appeared to be a fall-off in buying

support, with few sellers. ! ‘An easier trend can be expected during the next few days.” Thoroughbred issues failed to react to improved prices being offered at the Waikato Sng sales. Blandford lost 3c to 72c, after g between 70c and 80c on a turnover of more than 100,000. However, Thoroughbred Holdings was particularly active on a turnover of 1,150,800 shares at 75c for 3c gain. Allegra Park Stud firmed 5c to 105 c after opening its new complex near Hamilton on Sunday. Australasian Breeding and Waikato Stud were steady. Among the market leaders, Brierley lost a further 6c to 870 c ahead of going ex bonus today. Chase eased 3c, Feltex 7c, and New Zealand Steel 9c. Equiticorp went against the trend, gaining 10c to 435 c. Ceramco and Farmers’ Trading Company were also firmer.

Fletcher and Goodman were steady. Perry Dines, which is in receivership, was prominent on a 4c gain to 10c among the second-liners. However, the biggest fall of the day went to Qtron, which slumped 160 c to 150 c. The seldom-traded investment company reported a loss late in December. New Zealand Salmon continued to rise, improving 15c, but Taylors .Drycleaning lost 10c. - Property issues lost headway on the market yesterday. Mainstay fell 12c to JBc, after firming in busy trading last week. Landmark, Renbuf Properties, and Smart Group were also easier. The mining and oil sector was active, particularly in the trading of Petro Taranaki’s contributing shares and options, which firmed 4c each. Goliath was also. busy, recovering 1c to 13c after shooting to 22c at the beginning of last week before sliding back to 10c just as fast.