FINANCE & MARKETS

Sun (Auckland), Volume III, Issue 709, 8 July 1929, Page 10

FINANCE & MARKETS

Healthy Trading

Market on ’Change By “Noon Call.” HEALTHY trading was indicated at the week’s opening calls on ’Change this morning. One of the features is the slight weakness of the market for New Zealand Breweries following the announcement of the directors’ intentions as to bonus distributions, and the redemption of the debentures.

F 9 actuations Price movements, shown by a comparison of sales during the morning, ■with the prices at the time of the previous recorded sale, include: New Zealand Breweries, fall of Is. National Bank of Australasi.a (con.), fall of 9d (last recorded sale in Chi istchurch on Thursday last). Business on the Auckland Market Transactions recorded on the Auckland market during the morning are: At the early call. —Reported: National Bank of Australasia (con.), C 9 13s. On ’Change: New Zealand Breweries, 775. At this morning’s midday call.—Reported: Waihi Mining, 12s. * * * Movements at Midday A quiet tone was registered at the midday call, and no business was transacted in the room. In the insurance group buyers of A.P.A.’s moved up to 12s Id, sellers holding for 12s 6d. Sellers of Pukemiro Coals came in nt 68s to find support from buyers at 65s 6d. Renown Collieries are firming with a middle price of approximately 15s Bd. Checker Taxi* are attracting a

speculative buyer at Is 6d for the 20s paid scrip.

Weakness in Australian Banks A decided weakness is recorded in the market for several Australian banks, due largely, no doubt, to the geperal depression affecting the market across the Tasman at the moment. Commercials now have a middle price of approximately 29s sd. Sellers of Unions are unsupported at £ls 15s, the last recorded market price for this scrip. * • • Gilt-edge Market Firm All Government and local body debentures meet with a very steady demand: buyers’ quotations predominate. The market for 4 jg per cent, free-of-income-tax bonds and stocks is particularly firm, present prices allowing a return of slightly under £4 10s per cent., when brokers’ charges are taken into consideration.

More Interest in Mining Greater interest is being taken in the mining group. Moanataiaris are sought at 6d. The market for Ohinemuries lias strengthened to see a middle price of approximately 8s 7d. compared with the last recorded sale at Ss. Waihis were dealt with outside the call room this morning at 12s.