Sluggish start
The New Zealand futures market made its traditionally sluggish start to the week yesterday, with little overseas or domestic news to influence trends.
A dealer at Egden Wignall and Company Futures, Mr Mark Thiele, said that the Government stock contract (GSC) rose slightly in the afternoon after the Reserve Bank announced its monthly liquidity requirements.
However, the movement was a minor one and the GSC contract remained in a narrow trading range.
The Barclays contract had moved out to 40-point premium at one stage yesterday, a mark that was unjustifiable, and it came back to finish at 29-point premium, he said.
The contract’s margin over the physical market was unchanged from Friday. In Sydney, the June share price index contract toppled 17 points to 1446.0 from an opening 1463.0. About 607 lots were dealt. It closed last Friday at 1460.0. Details of yesterday’s trading were:
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Press, 4 April 1989, Page 39
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147Sluggish start Press, 4 April 1989, Page 39
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