Economic Outlook
pp. 160-161 · Read in the full issue
Australian stock markets generally.
Sydney Stock Exchange in partic have made encouraging gains with panded turnovers during the past weeks. “Ordinaries” index for Sy moved out of the 280’s and by Febr 9 was touching 294.64.
One influence that brought a of confidence to the market the rise and heavy trading in CSR s —the investing public appari anticipating a coming share issue and splitting of the £2O units into ] manageable (for the small investor) units, though the company has not made any announcement about I proposals. ’Change has not been swayed to great extent by the persistent att on the Menzies Government by a sei of the Australian press (notably, “SMH” group), which has been vocifen condemning its economic policies I planning —or lack of them.
Devaluation of the Australian £, imposition of import licensing, etc., i been thrust forward as measures combat the decline in the nation’s ii national reserves, but the Prime Min has not risen to the bait.
Some commentators believe that n ing really has gone radically wrong j Australia’s economy, except the Gov ment has perhaps moved a little strongly to curb the trend of expan Business is in for a period of si credit-squeezing, as a result of the I
t’s anti-inflationary budget, but the half of the year might see the reserves arrested, as imports drop exports begin to rise.
Sydney Sales Prices
Jan. 9, '61 Feb. 8. 61 antations . 13/- 13/iy a Phllp ... 85/- 86/- Phllp (SS) . . 60/- 55/- £75 £78 15/- Plantations 10/- 9/8 lustries . . . 13/- 13/all’s ... 12/- 12/9 rimber . . . 19/6 18/6 Rubber . . . 9/3 7/9 20/- 19/9 11/1 9/6 pau ... — 4/6 9/- 9/4 Is. Whaling . 6/9 5/6 lotes (5/-) .. 7/- 5/6 Is. Timbers . 6/- 6/6 Ion Holdings . 5/8 5/2 and Insurance 92/- 88/ands ... 6/- 5/9 »ac. Insurance 19/6 24/lips Trading . 45/- 47/arpenter Hold. 25/9 30/- Dil 4/10 7/1
Dil And Mining Shares
Fiji
July 9. ’58 Jan. 9, ’61 Feb. 8, 61 r . . b5/9 b4/s5/- • • • — b40/b40/-
Papua-New
Gu1Nea
. . . b35/b49/6 b57/6 Ltd. bl/9% bl/11 b2/rch . b2/6 b2/3 b2/4 N.Q. b7d b3d s3d .lines — b95/bl25/- Apin. b9d b2/b2/6
p t . b6Vad
b3d b4d Dev. b86/6 bll7/sl40/- Dreek o4d s4d blV 2 d