Sharemarket has one of its best days ever
Lower interest rates on long-term Government stock, and strong overseas demand for New Zealand shares pushed the New Zealand sharemarket to another record in one of its best days ever. Trading was hectic as almost 8 million shares changed hands for $14.1 million — an average of 178 c a share. Barclays’ index of industrial shares rose no less than 63.11 points and breached the magical 2400 points-barrler without effort The rise represents an
Increase of 2.6 per cent. The index has risen 29.3 per cent so far this calendar year. Brierley Investments, which by itself accounts for around 22 per cent of the weight of the index, rose 40c to 540 c as the stock was aggressively sought by trans-Tasman buyers. NZI Corporation also met with overseas demand, but ended 2c down at 180 c — a gain of 20c on the week. Most market leaders performed well, with Chase Corporation also standing out as it put on 45c to close at an even $lO.OO.
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Press, 19 April 1986, Page 21
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172Sharemarket has one of its best days ever Press, 19 April 1986, Page 21
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