Sharp falls under selling pressure in Australia

Press, Volume CXV, Issue 33777, 25 February 1975, Page 14

Sharp falls under selling pressure in Australia

Selling pressure gained momentum in a vicious shakeout on Australian exchanges yesterday. Main attention was focused on the industrial market, where many established issues incurred substantial losses. B.H.P. fell 20c to 620 c as did B.N.S.W. at 550 c. CSR fell 15c to 380 c and Comalco 10c to 150 c. Other sharp losses were reported by E.Z.1., Lend Lease, Hooker, Jennings, Coles, Myer, C.U.B. and Tooths. Mining stocks generally, were not as severely affected by sellers, but losses nonetheless were widespread. Peko slumped 30c to 300 c while Poseidon fell a similar amount to 530 c. In a shaky uranium section, Pan Continental sagged 30c to 320 c and Central Pacific 8c to 55c. The biggest loser among the leading issues was Utah,

down 12c to 644 c. W.M.C. fell 8c to 172 c while smaller losses were posted by A.M. and S., B.H. South, M.I.M. and North B.H. Emperor fell 5c to 190 c, 5c to 220 c and Kalgoorlie Southern the same amount to 230 c. Oil stocks fell back. A.A.R., Magellan, Timor, Oilsearch and Woodside Burmah all losing money. An exception was Endeavour, which closed 2c up at 15c on news of encouraging nickel values at its Digger Wells prospect at Forrestania. SYDNEY Sales.—Amatil, 140; Ampol, 46; Ansett, 65; A.W.A.. 100; Assoc. See., 58; A.N.Z., 467; A.G. Corp., 145; N.S.W., 550; 8.M.1., 84; Boral, 172; Brambles, 125; 8.H.P., 620; Burns P., 215; Carp., 122; Clyde, 85; Coal All., 172; C.S.R., 380; C.A.G.A., 195; Coles, 111; Comalco, 150; C.8.C., 190; C.1.G., 220; Cone. Monier, 100; Courtaulds, 27; Dickson, 60; Email, 60; E.Z.1., 326; Elders, 175; Fairfax, 104; F. and T„ 70; Fibre Con., 95; Hanlmex, 123; Hooker, 100; 1.A.C., 73; 1.C.1., 140; D. Jones, 105; L.N.C., 90; Lifesavers, 170; Mauri, 93; Myers, 125; Newbold, 88;

News, 90; Penfolds, 85; Pet.' Chem., 25; Petersville, 24;! Pioneer Mouier, 84; Pioneer Sugar, 455; Pye, 140; Rothmans, 190; Sims, 116; Sleigh, 36; Oakbridge, 49; Taubmans, 73; Thiess, 270; Tooheys, 120; Tooths, 190; T.N.T., 104; Travelodge, 27; Waltons, 75; Wwths, 68. Mining, oil.—Beaver Exp., 4; Bougainville, 102; B.H. Sth. 220; | Carr Boyd, 11; Patrick, 5; Cleveland, 35; Com. Min., 220; Cons. I Gold, 290; Cons. Rutl, 200; C.R.A., I 200; Cudgen, 68; East. Met., 54; 1 Emperor, 190; G.M. Kalg., 225; Hamersley. 132; Hill 50, 21; Kath. i Inv., 80; M.K.U., 75; M.1.M., 155;! Paringa, 31; Peko W., 300; Planet: Res., 7; Poseidon, 530; Qld Min., 92; Robe R., 50; Southland, 19;! W.M.C., 173; Westralian, 56;; Allodev, 74; Ampol Ex., 75; A.A.R., 175; A.0.G., 95; Beach, 18; Bridge, 12; Clarence, 44; Oil I Search, 19; Timor, 17; Woodside, 80 . MELBOURNE Sales.—A.N.l., 90; Ampol, 46;! Ansett, 65; Assoc. Pulp, 100;! A.C.1.. 155; A.P.M., 105; N.S.W., 550; Boral, 172; 8.H.P., 620; I Comalco, 150; C.U.8.Z.. 190;; Coles, 112; C.S.R., 380; C.8.A., 225; Containers, 130; Cyclone,! 125; Dunlop, 60; Email, 58; E.Z.1.,! 325; F. and T„ 70; Gerrard, 245: G. Gotch. 125; Hardie T„ 95; Herald, 190; Hooke. 102; Humes, 70; 1.C.1., 140; Jennings, 112; Mayne Nick, 130; McPhersons, 47; Nylex, 65; P. Morris. 600; Myers, 125; Nat. Bank, 263; Nat. Consol., 70; Olympic, 53; Overseas, 115; Petersville. 23; Repco, 100; Rocla. 100; H. Smith, 380; Swan, 140; T.N.T., 108. Mining, oiI.—A.A.R., 175: Aberfoyle, 85; Beach. 20; B.H. Sth, 225; C.R.A., 200; Gt Boulder, 47; Interstate, 72; Utah, 544; Loloma, 34; Magellan, 50; Metals Exp., 65; M.1.M., 158; Mt Lyall, 105; OU Search, 19; Renison, 500; Santos, 65; Southland, 19; W.M.C.. 172,