Australian Markets Lower

Press, Volume CIX, Issue 32265, 7 April 1970, Page 18

Australian Markets Lower

Mining shares drifted lower in quiet trading as sellers again had the upper hand on Australian stock exchanges yesterday.

Sydney experienced an early burst of buying support, but this soon dried up and most issues closed with, moderate losses there. In Melbourne the market opened near Friday’s closing levels, but buyers were scarce and prices eased all day. Poseidon opened quite strongly at 14,500, but was soon under pressure and by the end of trading had fallen to a new low for the year of 12,000 in Melbourne and 12,400 in Sydney. The Poseidon shareholders came down in sympathy with Samin dropping 200, and Australian Development 10. Other big losses included Tasminex which was cut back 30 to 370, North Deborah 30 to 160 while Laverton and Millina both lost 20. North Flinders lost 30.

Among the established miners Mount Isa stood out with a 50 gain to 1490; New Broken Hill firmed 20. Peko and North Broken Hill were up 10, though Hamersiey could only manage to hold Friday's price and C.R.A. fell 30 to 1870, a new low for the year. Western Mining fell back 15 to 1335, and the nickel producing partnership of Great Boulder and North Kaigurli was down, with North Kalgurli hardest hit with a 30 loss to 980.

Oils were mixed, though still tending to weaken. Beach lost an early gain to close unchanged at 110; Bounty fell one cent. Industrials were mixed in quiet trading. B.H.P. bad a good day, to close on 1500 for a 25 rise. C.S.B. also attracted some support and firmed 8 to 738. However, the best rise of the day was Tooths which jumped 120 to 720 after the company’s announcement of a one for two bonus issue. The banks tended to weaken with the Bank of N.S.W. slipping 2, C.B.A 10 and the National 5. SYDNEY Sal«l.—Ami!. Cham., 38; Ampol. SO; Arnott, 89: A.W.A., 175; A.N.Z., 634: A.G. Corp., 107; A.N.1., SS; Bk N.8.W., 610; Blue Metal, 170; Borg Warner, 100; Bramble, 308; Brit. Tob., 395: 8.H.P., 1505; Burna Philp, 300; Carpenter. 322; C'maine Perk.. 780; Clyde. 96; Coal Allied. 180; C.S.R.. 786; C.A.G.A., 260; Com. of Syd., 215; C.1.G., 410; Cone. Ind., 90; Cuitom Cr., 138: Dickson, 60; E.Z.1., 446; Elders, 202; Fairfax, 165: Fairymead, 180; F and I, 112; Hanimox. 145: Hardie, 305; Hooker, 02; 1.A.C., 142; Int. Beaiet., 50; D Jones, 168; L. 123; Lend Lease, 205; Llfasavers. 155; Lindeman, 430; M. 550; Msrriekvllle, 108; Mauri, 127; Miller. 175; N.Z. Forest, 405; Newbold, 110; News, 225; Paynter, 210; Pelco, 1260; Penfold, 305; P.G.H. Inds.. 03; Pioneer Cone., 165; Publishers, 152; Qld Ins, 410; Bothmans, 210; Slater, 500; Sleigh, 75: Soul, 650; Sth Brit.. 540; Taubmans, 03: Thiess, 370; Tooheys, 125; Tooth, 710; T.N.T., 212; Travelodge, 180; Union Carb., 710: Waltons. 108; W'wths, 115.

Mining, Oil.—Allstate. 94; Assoc. Min., 780; S.H. Sth, 475; Carr Boyd, 455: Cleveland Tin, 107: Cons. Gold. 860; Cone Rutile, 310; C.R.A.. I 860; Cudgen. 230; Eastmet. 115; Emperor. 120: G.M. Kalg., 110; Great Northern. 55; HamersJey, 840: Hill 50, 120; Kambalda, 18; Kathleen, 400; Laverton, 305; MalMna, 105: M.K.U., 390: Mt Isa, 1490; New 8.H., 1750: Nth Flinders, 400: Nth Deb,, 160; Nthern Min., 90: Paringa, 85: Placer, 4400: Planet Min., 40; Project Min.. 31; Poseidon. 12.300; Qld Mines, 650; Samin, 1550; Survey Min., 168; Scamander. 165: Tasminex. 360: V.A.M.. 255: West. Min.. 1340: Westralian, 95: Allo. Dev.. 26; Ampol. Ex.. 205; A.A O . 100; A.0.G., 80; Beach, 110; Bounty. 90: Ex OH, 64: Genoa. 16: Longreach. 35; Mid East. 55: Oil Search. 45: Pexa, 10: Planet, 27: Timor. 52: Vamgas, 30: West Moreland. 34; Woodside, 60. MELBOURNE S«lm,— Ansett, 90; A.B.C.', 132; Aust. Feri., 78: Assoc. Pulp, 164; A.1.C., 210; A.K. Cement, 85: A.P.M., 184; N.S.W., 610; Boral, 205; 8.H.P., 1500: C.U.B. Z., 380: Cast Perk., 780; Coles, 100: C.S.R., 738; C.8.A., 215; Com. Union, 212; Containers, 155; Cyclone. 132; Dunlop, 185; Email. 84; E.Z.1., 445: F. and T„ 112; Flex Drive, 270: Gerrard, 255; Collin, 85; Gordon Gotch, 115; G.U.D. Hold., 340; Hardie Trad., 160; Healing, 9J: Herald, 306; Hooker, 93: Humes. 205; 1.C.T.A.N.Z., 200: Jennings. 105; M. B. John, 136; H. Jones. 260; Kelvlnator, 115; Mayne Nlcklesx, 168: Mcllwralth, 97: McPhersons, 63: Myer, 360; Nat, Bank, 265; Nat. Consol.. 134; Nyiex, 152: Olympic, S 3: Peters Ville, 34: Repco, 178: Rocla, 235; Sleigh. 74: Swan. 270; T.N.T., 215: U.E.8., 170; Weill, 102.

Mining, 0i1.—A.A.0.. 95: Abertoyle, 205; Aust. Dev., 270; Basin. 13; Beach, 115, and 10c gd, 84: Bounty, 3, and opts, 4i; ,H. Sth, 480: C. Norseman 1500; Cons. Gold, 880; C.R.A., 1870; Gt Boulder, 455; Hamersiey, 850; Interstate. 43; Lake View. 205: Loloma, 445; Magellan. 200; Metals Exp., 810; Mt Isa! 1490: Mt Lyell. 280; New 8.H., 1750; Nth 8.H., 910; Petromln, 52: Renlson, 1060; Santos, 190; Silver Valley, 120; Southland, 640: West Mining, 1525; West Titan, 520.