AUSTRALIAN MARKETS Sharp Fall; B.H.P. 1260c

Press, Volume CIX, Issue 32303, 22 May 1970, Page 17

AUSTRALIAN MARKETS Sharp Fall; B.H.P. 1260c

After overnight losses ] in London a wide rangeh of shares fell back on I Australian stock ex-|] changes yesterday. The mining heavyweights,[ took the worst battering,;' though on the industrial s boards 8.H.P./Slumped 40c to]' lead a general retreat. Trading remained quiet for,, most of the day, indicating that it was again a lack of • buyers, rather than an ava-] lanche of sellers, which, i caused most losses. However, some of the blue 11 chips appeared to he under]; considerable selling pres-l: sure, especially Mount Isa.!] The big base metal producer!] was actively traded all day:!; after opening at 1350 c the|] shares were soon pushedi] down near 1300 c, where some!, resistance was encountered,; 1 but by the close Mount Isa’s I] were changing hands at 1295 c! i

for a 75c loss on the day The Barrier Miners were all cut back, and nickels fared no better: Western Mining lost 38c. Most speculative issues were weak. Oils were generally quiet, and tending to weaken. Beach was among those to take a significant loss.

Trading on the industrial boards was a dismal affair.

B. set the pattern with its 40c fall to 1260 c, which represents its lowest price since 1967. C. eased another 10c to 580 c, while other natural resource stocks like Coal and Allied, E.Z. Industries and Boral were also lower.

SYDNEY Sales.—Ampol, 81; Ansett. 70; Ass. Sec.. 165; A.G. Corp., 150; A.N.1., 70; N.S.W.. 524; 81. Mil. 147; Bramble, 158: Brit. Tob., 245: 8.H.P., 1260: Burns P.. 330: Carp., 201; Clyde, 88; Coal All, 135; C.S.R., 580: C.A.G.A., 262; Com. of Syd., 208: Courtauld, 105; Custom C., 120; Dickson, 54: E.M.1., 410; E.Z.1.. 345; Elder. 190, Fairfax, 175- Fairymead,

185; F. and T.. 82: Hanimex. 120; Hardie, 325; Hooker, 68; i.A.C., 118; I.RH.. 58; D. Jones, 140; Kolotex. 250: Lifesavers, 135; Lindeman, 378; M.L.C., 508; Marrick, 88, Mauri, 111, Miller, 1145; N.Z. Forest. 380: Newbold, 95; Olims, 98: Penfold. 250; Pet. Chem., 44: P.G.H. Inds, 80; Pioneer C, 142; Pioneer S„ 190; Publishers, 140: Rothmans, 215; Austim 'Slater). 300: Sleigh. 67; Soul. 000, Taubmans. 85; V. Theiss. 288; Toohey. 115: Tooth, 650; T.N.T.. 150: Travelodge. 150: Union Carb.. 605: Waltons. 100,

|W/wths 97. Mining and Oil.— Allstate. 4: Assoc. Min.. 650; B H. Sth. 410; Carr Boyd. 240: Cleveland Tin, 93; Com Min.. 340: Cons Gold. i 890: Cons. Rut.. 230: C.R.A.. 1540; Cudgen. 150; Eastmet. 77; Emperor. 95: G.M. Kalg . 83: Grt Nthn, 50; Hamersley. 660; Hill. 150. 75: Kambalda, 11; Kath Inv.. 1290: Laverton. 122: Mallina. 80. IMin. Sec.. 880: Mt Isa. 1305; New 8.H., 1350; Nth Flinds, 220; Nth Deb., 70: Nth Min., 48: Paringa, 50: Peko. 950; Placer. 3200: Project Min., 23: Poseidon. 6200: Qld Mines. 500: Samin. 1030: Survey Min., 12; Scamander. 62: Tasminex. 380; Vam, 165: Western Min.. 930: Westralian. 70. Allodev. 25: Ampolex. 177; A.A.0., 88; A.0.G.. 68. Beach. 120; Bounty. 7J; Clarence. BV. Exoil.

s}; Genoa. 11. Longreach. 21: Mideast. 43; Oil Scb. 32: Pexa 7; Planet. 25: Timor, 34; Woodside. 22.

i MELBOURNE Salat.— Ampol. 81; Ansett. 70. ARC., 112; Assoc. Pulp. 162; A.C.1., 180; A.K. Cement. 82; A. 168; N.S.W., 530; Boral. 162; 8.H.P., 1260; Carlton. 312: Cub. Z. 340: Cast Perk.. 690: Carrier. 72; Coles. 100; C.S R.. 580; C.8.A.. 200; Com. Union. 205; Containers. 157; Dunlop. 146; Email, 72: E.Z.1., 345: F. and T., 80; Gollin. 75; Gordon Gotch, 160: Gud. Hold.. 330: Healing. 5: Herald. 290; Hooker, 70; Humes. 198: 1.C.1.A.N.Z.. IS2; iJennings. 82; H. B John. 130: H. Jones. 233: Kauri. 39: Meinwraith. 81; McPhersons. 59: Minster. 75: Myer. 316; Nat. Bank. 235; Nat. Consol. 140; News. 1215; Nylex. 110: Olympic, 75: 1 .Overseas Corp.. 14; Petersville. ■3O: Repco, 167. S.A A. Rubber, 185: Sleigh, 67: Swan. 235: T.N.T.. 1150. Mining and Oil.— Aberfoyle. '140: Aust Dev.. 175: Beach. 110. : and 10c pd. 68; Bounty Oil. |7J, and opts. 3s; B.H. Sth. 415; |C. Norseman. 310; Cons. Gold. ;700; C.R.A., 1550: Gt Boulder.| 310; Hamersley. 660; Interstate. 135; Lake View. 120: Loloma. 250 Magellan. 120; Metals Exp., 475: Mt Isa. 1295; Mt Lyell. 250: New B. 1360: Nth 8.H., 700: Oil (Search. 32; Petromin, 24: Reni-; i son. 970: Silver Valley. 59: I 'Southland. 190; West Mining. 922: West Titan. 480. I