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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Oct 29, 1971
Page
3
Fragmented market report notes a takeover bid by Rawn tree valued at 181843 million ex evedy with Monday’s lite Mavers offering 18.3 million. Market activity fluctuates with price swings, endorsements, and varied sector moves as stocks react to the takeover news and broader trading dynamics.
Fragmented OCR shows prices and listings across sectors including finance, insurance, trade services, and manufacturing. Notable figures appear for river finance, power, textiles, and medicals, with scattered totals and column headers suggesting a broad market snapshot rather than a single dominant move.
The oil index rose to 129.3 with a 1.06 gain as Industrial Centre Melbourne reports stronger trading activity. Traders noted steady demand and rising prices amid mixed sector signals, with investors watching global supplies and regional shifts influencing benchmarks.
Sydney mining report notes release of new weight to Tote Me. Industry observers record potential impact on supply chain, pricing, and competition as firms monitor market response and regulatory advice.
Shares in mining and oil sectors climbed on Friday as investors priced in continued demand and higher commodity prices. Analysts cited stronger production data and renewed optimism about energy supply, with several majors posting gains in early trading.
The September 1969 quarter survey shows easing activity and higher liquidity yet more firms report poor trading. Results indicate 29 percent with poor outcomes, the highest in two years, while profits and capital expenditure remained constrained across Australia.
Purwit Oil NL chairman J G A Tucker warns Australian resources face buyouts by overseas interests as the Commonwealth Government fails to boost taxation incentives. He cites Burmah Oil acquisitions and Woodside ties, urging government to protect Australian stakes in oil and gas amid rising exploration risks.
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