Buoyant Market

Sun (Auckland), Volume III, Issue 667, 20 May 1929, Page 10

Buoyant Market

FIRM TONE IN INSURANCES

By

"Noon Call.”

BUSINESS on ’Change opened for the week this morning with the markets for all the better-class securities in very firm tone. The stronger tone in Banks and Insurances noted toward the close of last week is fully sustained.

fluctuations Price movements, shown by a comparison of sales over the past 24 hours when compared with the price at the time of the previous reported sale include: , New Zealand Insurance, rice of 3d - New South "Wales scrip was dealt ' with at the early cuii at £52. At this price the return on investment is ! «> pproximately £4 16s 2d per cent. . other shares in the group are very steady. Unions of Australia hold their increased strength of last week «tnd buyers at £ls 12s failed to draw a declaration from sellers. ’Asias are very tirm with steady buyers at £l4 12s 6d and sellers hard to locate. "Mining is very sensitive with the 1 speculative element watching the market closely. The report from the Lucky Shot mine issued lost week has been received with more than usual interest and the market shows considerably more strength. An indication that the gambling element is actuating the move, however, can be taken from the fact that the contributing shares

are sought on practically the same levels as the paid ups. Waihis are quiet, but the market is very firm. The directors of Henry Jones Coannounce :i interim dividend <*f 9d a share, payable in June. The shares of this concern have been quiet lately, du< largely to competition in Australia. It must be remembered that this firm has a wide spread of interests, however, having big factories in South Africa and New Zealand. Lewis Kady, Ltd., ordinaries drew a buyer for the first time for many weeks this morning. Sellers failed to respond. Hayward’s Pictures show a weakening tendency, sellers at the last recorded market price failing to draw support from buyers. Business at this morning’s early call. —Reported: Bank of New South Wales, £52. Business at mid-day.—On ’Change: New Zealand Insurance, 47s (two parcels). Reported: New Zealand Breweries, 655; Alburnia Mining, Is 9d.