THE MARKET Firmer on moderate volume

Press, 16 July 1986, Page 35

THE MARKET Firmer on moderate volume

The New Zealand sharemarket finned yesterday in quiet trading. Barclays’ index of industrial shares rose 13.11 points to come within a whisker of the 2700-mark (2699.32) on a volume of 3.8 million shares worth $7.7 million — an average of 204 c a share. Rises outnumbered falls about three to two. Top-tier shares were in

demand, and Brierley Investments, Chase, Renouf Corporation, Rainbow, and Equiticorp were in the top ten issues traded by value. Prime West was once again the market leader by volume, and gained 2c to 26. The sharemarket was firm again on moderate volume, said Mr Derek Howarth, market operator for Lawrence Millton and Howarth, Christchurch

sharebroker. Leaders edged up with greater confidence apparent in Rainbow and Robert Jones, he said. “The immediate outlook is for a steady market”

Investment stocks showed the biggest movements: Euronational put on 40c to 690, Chase 22c to 600, Capital Markets 10c to 400, Leyland Capi-

tai and Leyland Growth which are being merged, 25c to 110 and 45c to 265, Rainbow 15c to 690. However, Leyland Investments lost 10c to 175, and two Brierley associates were also among the losers: Tozer KM 20c to 510, and lEP 30c to 1020. Brierley Investments itself rose 3c to 565. Other double-figure rises were Moyes Groves, 40c to 250, Quill Humphreys 20c to 260, Lion 15c to 560, Auckland Gas 15c to 265, Ceramco 20c to 740, while gains of 10c were made by Genestock, Colonial Motor, Williams

Properties, and Progressive Enterprises, and Cashmere Pacific. National Bloodstock recorded the biggest loss, 25c to 255; 20c losses were posted by Terra Flrma and Wilson Neill, while Mair fell 17c to 265, Lanes 15c to 145, and Corporate Investments 10c to 390. Strada at 270, NZ Cement at 105, LD Nathan at 575, Mainstay at 85, Command at 260, Dominion Breweries at 450, Christchurch Press at 305, and Bendon at 385, lost 5c each, as did BNZ Finance to 355.