Bad case of nerves on Australian markets

Press, Volume CXII, Issue 32860, 8 March 1972, Page 20

Bad case of nerves on Australian markets

Investors on Australian stock exchanges yesterday became nervous of mining shares, after the announcement of further cuts in iron ore shipments to Japanese smelters. Sharp falls were recorded in this sector as they took advantage of the recent strong gains to take the profit and get out.

Industrials also suffered from profit taking, with many leading issues showing reverses. B.H.P. lost 10c to 1190 c in Melbourne, and 15c ito 1185 c in Sydney. C.S.R. fell 24c to 365 c. There was little weakening I of oil shares, which mainly held close to Monday’s levels. Woodside Burmah gave up most of the gains of the previous day, with a fall of 8c to 135 c. The C.R.A. stable—which ! recently has been serving as an accurate barometer of the (mining sector’s performance —led yesterday’s retreat; C.R.A. fell to 720 c, Hamersley lost 25c to 300 c, while New B.H. and Bougainville also recorded sharp losses. Among other leading mining issues, B. H. South, Mount Isa, and Robe River were heavy losers, but Peko resisted the trend and lost only 4c, while Gold Fields was unchanged. Nickels and uraniums also lost ground. Among industrials one of the largest falls was E.Z. Industries, 25c to 365 c, in spite of the news that men have

agreed to return to work at the company’s Roseberry mine in Tasmania. Elders-G.M., Bank of N.S.W. and Thiess improved; Philip Morris met with profit taking, and- Herald was also easier. SYDNEY Sales.—Amal. Chem., 40; Ampol, 76; Ansett, 80; A.W.A., 155; Ass. Sec., 196; A.N.Z., 750; A.G. Corp., 235; A.N.1., 103; N.S.W., 740; BL Mtl, 183; Bramble, 220; Brit. Tob., 300: 1185; Burns P„ 435; Carp., 250; C’main, 900; C’reagh, 6; Clyde, 114; Coal, 114; C.S.R., 536; C.A.G.A., 386; Comalco, 345; Com. of Svd., 280; C.1.G., 345; Cone. Ind., 117; Courhds, 55; Custom, 225; Dickson, 75; E.M.1., 255; E.Z.1., 365; Elders, 232; Fairfax, 250; Fairymead, 310; F and T, 13f; Fibre cont., 172; Hanimex, 130; J. Hardie, 490; Hooker; 164; 1.A.C., 210; 1.R.H., 82; D. Jones, 180; L.N.C., 158; Lend Lease, 390; Lifesavers, 270; M.L.C., 786; Mainline, 375; Marrick, 82; Mauri, 148; Newbold, 120; News, 240; N.Z. Ins., 345; Olims, 14; Paynter, 200; P.G.H. Ind., 124; Pioneer C., 18; Pioneer S., 330; Protector, 275; Provincial, 93; Publishers, 170: Pye, 63; Rothmans, 288; Sims, 92; Slater. 228; Sleigh, 66; Soul, 680; Sth Brit., 580; Taubmans, 95; Thiess. 308; Tooheys, 265; Tooth, 642; T.N.T., 256; Travelodge, 69; Union Carb., 470; Waltons, 165; Wilcox, 95; W’wths, 100.

Mining, oil.—Allstate, 16; Assoc. Mln., 400; B.H. Sth. 265; Carr Boyd, 25; Cleveland, 74; Com. Min., 260; Cons. Gold, 620; Cons. Rut., 200; C.R.A., 720; Cudgen, 78; Eastmet, 14; G.M. Kale., 45; Hamersley, JOO; MU 50, «; Kath. Inv., 270; Laverton, 54; M.1.M., 353; New 8.H.. 415; Nthn Mln., 30; Peko, 970; Placer, 3100; Planet Met., 12; Project, 7; Poseidon, 1200; Qld Mines, 380; Robe R., 85; Scamander, 13; West, Min., 326; Westralian, 35; Woodsreef, 6; All. Dev., 18; Ampol Ex., 118; A.A.0., 110; Bounty, 3; Bridge, 40; Clarence, 4J; Exoll, 26; Longreach, 8; OU Search, 17; Pexa, 3; Planet OU, 13; Timor, 25; Vamgas, 30; B’vUle, 365; Westmoreland, 7; Woodside, 135.

MELBOURNE

Sales.—Ampol, 76; Ansett, 80; A.R.C., 115; Aust. Fert., 82; Assoc. Pulp, 120; A.C.1., 242: A.K. Cement, 115; A.P.M., 198; N.S.W., 734; Boral, 245; 8.H.P., 1190; Carlton, 475 and Z. 460; Comalco, 345; Cast Perk, 906: Coles, 115; C.S.R., 536; C.8.A., 315; Containers, 260; Cyclone. 142; Dunlop, 138; Email, 118; E.Z.1., 365; F. and T„ 131; Flex Drive, 260; Gerrard. 407; Gollln, 73; B*ville, 370; Gordon Gotch, 215; G.UJJ. Hold, 380; Hardie Trad., 200; Herald, 408; Hooker, 165; Humes, 260; 1.C.1.A.N.Z., 163; Jennings, 255; M. B. John, 140; H. Jones, 270;

Kauri, 22; Kelvlnator, 138; Mayne Nick, 173; Mcllwraith, 106; McPhersons, 64; Minster, 168; P. Morris, 1150; Myer, 203; Nat. Bank, 330; Nat. Consol., 192; Nylex, 118; Olympic. 90; Ovearseas, 190; Petersville, 33; Repco, c 36 i.,. R0 5!, a = ’ 192:l 92: Slei « h - «6; HSmith, 345; Swan, 232; T.N.T. 257; Uniroyal, 85; Wehl, 142,

Mining, 0i1.—A.A.0.. 110; Abern^; „4 US ‘- Dev > 7 5; Basin, 33, Beach, 32; Bounty, 2 and opts i; B.H. Sth, 268; Cons Gold, 620; C.R.A., 720; Gt Boulder, 170; Hamersley, 300; Interstate, 65; Loloma, 152; Metals Ex., 270; M.1.M.. 353; Mt Lyell, 170; New 8.H., 435; Nth 8.H., 195; Petromin, 8; Santos, 340; Southland, 68; West Min., 325; West Titan, 300.