Market Shrugs Off Budget Effects
Apparently shrugging off the effects on the share market of last week’s Budget, investors yesterday turned their attention to New Zealand issues. They pushed up prices on a market that had already begun to lift before the Budget. Apart from the clamp-down on selling overseas securities for New Zealand currency the Budget generally was kind to investors with no higher indirect taxes. This was seen in fuming by, for example, brewery stocks. Rises were well ahead of falls in the day’s trading.
Recorded turn-over on the Christchurch Stock Exchange was 16,266 shares and notes—average business for a Monday. It is likely that today there will be an announcement on the exchanges about the result of yesterday’s talks with the Reserve Bank. No statement had been released late last night. Until this is known it is difficult to plot a market trend for the future.
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Press, Volume CVI, Issue 31091, 21 June 1966, Page 19
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149Market Shrugs Off Budget Effects Press, Volume CVI, Issue 31091, 21 June 1966, Page 19
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