SPECULATORS ARE QUITTING AND CAUSE MARKET REVERSE

Press, Volume CX, Issue 32209, 30 January 1970, Page 17

SPECULATORS ARE QUITTING AND CAUSE MARKET REVERSE

Share prices lost ground in ail sections of Australian stock exchanges yesterday. Mining issues suffered the biggest losses as speculators sold out of many issues after criticism of trading procedure.

Tasminex ended the day on a surprisingly firm note after fluctuating erratically in early trading. In Sydney the shares opened 1000 down at 3000, and fell swiftly to 1800 before bargain hunters pushed them back to 2800. In Melbourne the shares closed at 3500. after a low of 2200. Nickel leader Western Mining was clipped back 100 to 1550 while Poseidon lost 1000 to 20500. Great Boulder fell 20, but North Kalgurli attracted support to close 30 better at 980. Hill 50, North Deborah, Mallina, Scamander, Carr Boyd, and Lakeview were noticeably weaker. Among the industrials B. fell 20 to 1660 after selling up to 1695, and C.S.R. lost 4. Otherwise the industrials tended to firm. SYDNEY Sales.—Amal. Chem.. 40; Ampol. 111; Ansett. 93; A.W.A., 178; Ass Sec.. 21S; A.C.1., 21S; A.G. Corp., 190; A.N.1.. 80: N.S.W., 702; Blue Metal. 155; Boral. 194; Bramble, 240; 8.H.P.. 1690; Burns Philp. 425; Carpenter, 250: Clyde. 100: Coal Allied. 237; Coles. Ill; C.S.R.. 730, and rts. 518: Com. of Syd.. 235: C. 238; Cone. Ind., 96; Cust.

Cr. 165; Dickson, 56; 8.Z.1., 455: Elder, 223; Email, 95; Fairymead. 180; F and T, Ill; Hanimex, 160: Hardie, 570; Hooker. 85, and rts. 35; 1.A.C., 142; D. Jones, 150; Kolotex, 470: L.N.C., 125; Lend Lease. 328; Lifesavers, 192; Lindeman. 392; McPhersons, 70; Marrlckville, 110; Mauri. 135; Myer, 405; Newbold. 120; Olims, 101; Paynter, 210; Peko 1290; Penfold, 325; Petersville. 40; Petrochem.. 51: P.G.H. Inds, 115; Pioneer Sugar. 210; Qld Ins.. 930: Repco. 175: Rothmans, 250; Slater. 430; Sleigh. 84; Sth Brit., 560; Taubmans, 90; Thiess. 480: Tooheys, 132; Tooth. 630; T.N.T., 225; Travelodge. 202: Waltons, 121: W’wths, 113; Plant Hold., 74; B.H. Sth. 560; Cleveland Tin. 130; Com. Min.. 450; Cons. Gold. 1020; Cons. Rutile. 420: C.R.A., 2150; Cudgen. 370; Emperor. 145; Hamersley. 1590; Kathleen Inv., 570; Mt Isa. 1450; New 8.H., 1820; N.A.U.C., 150; Placer. 4200; Planet Min., 70: Poseidon. 20,500; Qld Mines, 1040; Survey Min., 200; V.A.M., 490; Western Min.. 1580; Westralian. 70; Allodev.. 44; Ampol Ex.. 230; A.A.0., 175; A.0.G., 70,. and rts. 25: Beach, 390: Bounty, 16; Exoil. 77: Genoa, 22: Longreach. 33: Mideast. 60; Oil Search. 53: Pexa. 23. and rts. 12: Planet, 34: Timor. 75; Vamgas. 40; Woodside. 95. MELBOURNE Ampol. 113; Ansett. 93; A.R.C., 133; Assoc. Pulp. 190; A.C.1., 214: A.K. Cement, 88: A.P.M., 180: Bk N.S.W., 700; Boral. 192: B.H P., 1660: Brolite, 130: C.U.B. Z, 450; Coles, 111; C.S.R., 726;

C.8.A., 230; Com. Union, 220; Dunlop, 184; Electronic Ind., 145; Email, 95; E.Z.1., 465; Feltex, 112; Gollin, 85; Gordon Gotch, 168; G.U.D. Hold., 385; Hardie Trad., 190; Healing, 10; Herald, 320; Hooker, 88: Humes, 220; 1.C.1.A.N.Z., 218: Jennings, 128: M. JL John, 160: H. Jones, 145; 152; Mcllwraith, 98; McPherKelvinator, 118; Mayne Nickless, sons, 61; Minster, 95: P. Morris. 700; Myers. 408: Nat. Bank, 265: Nat. Consol., 160: Nylex. 146; Olympic, 80: Overseas Corp., 205: Petersville. 40: Repco. 175: Rocla, 216; Sleigh. 84: H. Smith, 325: Swan. 270: T.N.T.. 230: U.E.8., 160; Wehl, 106. Mining, 0i1.—A.A.0., 175; Aberfoyle, 325: Aust. Dev., 350: Basin, 14: Beach, 395, and 10c pd, 395; Bounty Oil, 17, and opts, 8; B.H. Sth, 570: C. Norseman, 950; Cons. Gold, 1020: C.R.A., 2200; Gt Boulder, 540; Hamersley, 1600; Interstate, 65: Lake View, 290; Loloma, 440; Magellan, 120; Metals Exp., 780; Mt Isa, 1430: Mt Lyell, 280; New 8.H., 1850; Nth 8.H., 1020; Oil Search, 53: Petromin., 70; Renison, 1170: Santos, 275: Silver Valley, 155: Southland, 820: Sth Pac.. 80: West Mining, 1550; West Titan. 660. Confused Punter Overheard in the nubile eallery of he Melbourne Stock Exchange this week: “My broker said that now was the time to get into industrials, but I don’t see it listed on the mining boards.”