A Buoyant Market

Sun (Auckland), Volume II, Issue 588, 14 February 1929, Page 12

A Buoyant Market

Four and a-half per cent. Bonds at Par

By

"Noon Call.”

Business on 'Change continues spread over a fairly wide range with a steady volume of business passing.

Fluctuations Comparisons of prices over the past 24 hours with prices at the time of the previous reported sale show the following fluctuations in the market: Bank of Australasia, rise of 2s. Victoria Nyanza Sugar, rise of Id. Westport Coal, rise of 9d. N.Z. Farmers* Fert., rise of 3d. Oevonport Steam, fall of 3d. N.Z. War Loan. 1938, 4t per cent., rise of 2s 6d. Electrolytic Zinc, fall of 3d. Renown Collieries (pref.), rise of Id.

Little movement is shown in the bunking group. Australasias show an advance of 2s on the market at the time of the last reported sale, over a fortnight ago. In the insurance soction, A.P.A.’s show a slightly firmer tone, with buyers improved to 8s 6d, and sellers asking 10s at mid-day. New Zea lands aro very firm, ex div.. with .sellers at 47s 9d supported by buyers at 475.

Westport*; are featuring in the coal group after hanging fire for several weeks, with sellers around 30s barely finding support. Tine market has risen Is 9d in little over a week, and, with a strong demand for the scrip, indications are that it will go even higher. Other shares in the group are quiet. Renown preference shares sold at a slightly higher price during the morning #

New Zealand Breweries are attracting less attention at the moment, with nominal quotations on a fairly lifeless

market, lnnes and Co. scrip continue to meet with a very firm demand.

Quotations for Oils made interesting reading. With no sellers Blenheims were sought at 27s Sd this morning, compared with last week’s highest levels of over £7. Taranakis firmed slightly after a sale yesterday nt 3s 9d, to see buyers offering 4s at mid-day.

The gilt-edge market is particularly buoyant, and most classes of bonds

and d€*bentures meet with a very firm demand. Four and a-half per cent. Government loans, selling at par this morning, go to buyers when commission and other charges are counted, at below 43 per cent.

Business yesterday afternoon. —On ’Change: Renown Coal (pref.), 2s lid; Farmers’ Trading B (pref.), 12s 6d. Reported: Bank of Australasia, £ls; N.Z. Insurance (ex div.), 47s Id; Milne and Clioyce, 26s 3d; Victoria Nyanza Sugar, 44s lOd: N.Z. War Loan, 1938. 4£ per cent., £99 17s 6d.

Business at this morning’s early call.—On ’Change: Northern Steam ! fcon.), 6s Sd. Reported: Westport ! Coal, 31s 9d; Electrolytic Zinc (pref.), j 37s 3d.

Business at mid-day.—On 'Change: Devon port Ferry, 245; N.Z. Farmers' Fertiliser, 20s 6d (two parcels). Reported: N.Z. War Loan, 1938, 4A per ! cent., £100; ditto, 1939, 41 per cent., 1 £IOO.