Market Opens in Good Tone

Sun (Auckland), Volume III, Issue 632, 8 April 1929, Page 10

Market Opens in Good Tone

Taranaki Oils Improve

By “Xoon Call

BUSrXESS opened on Change this morning -with a very firm tone in the market for all the better class securities. There was little of the uncertainty and feeling for a market noticeable after most holidays and business was put through r —' at the first call.

FLUCTUATIONS Price movements shown in this morning’s sales include the following:— Taranaki Oils, rise of 6d. The banking group opened very firm, most shares meeting with a very firm demand. New Zealands held the improved strength noted prior to the holidays, and further sales were put through at 625. Commercials of Australia are, if anything, slightly firmer. Nationals of New Zealand are weak, with sellers at £7 5s unsupported. * * * Tn the insurance group, A.P.A.’s are sought at 7s 6d, slightly under the price prior to the holidays, but sellers are not attracted. New Zealands have steady buyers at 46s 9d. It is interesting to note in connection with these shares that across the Tasman just prior to the holidays buyers were reported offering 47s 6d. South British are very firm with a middle price of 66 s.

Timbers are attracting slightly more attention, with buyers in for several shares, which have been more or less neglected over the past few months. Kauris were sought at 16s 6d this morning. Nationals have a buyer at ss. * * * The miscellaneous group is quiet, with few shares showing any movement. Taranaki Oils are about the only exception, the market opening very firm this morning, sales taking place on a market 6d in advance of that prior to the holidays. The fact that showings of gas have been met with at the Morere bore during the past week or so may have something to do with the movement. Business at this morning’s early call: On 'Change—Auckland Gas. 24s 4d; Bank of New Zealand, 625; Waihi Mining, 13s Sd (5 parcels). Business' at mid-day: Reported— Taranaki Oils, 5s 3d.