Investors ignore devaluation

Press, 4 August 1977, Page 20

Investors ignore devaluation

Investors failed to take much notice of the Australian dollar devaluation, and it was not reflected in trading on Australian markets yesterday. Brokers said that in a more buoyant market exporters, especially miners, could have been expected to strengthen. Coal stocks which have been of special interest lost some of their glamour with slower buyer activity. Coal and Allied which is the object of a take-over bid by C.R.A. and Howard Smith gained 9c to 307 c while A. firmed 6c to 82c and Utah fell 5c to 425 c. Uraniums also retreated as the market awaits the Government decision on the mining and export, and Pancontinental dropped 30c to 920 c while Kathleen Investments eased 3c to 152 c. Highlights among the miners were Renison which gained 10c to 550 c on its recent good report and (higher tin prices. Among the [golds, Central Norseman i gained 30c to 450 c on its [report and stronger demand for gold. Among the industrials, B. traded steady at 574 c. SYDNEY

Industrial AnitU. 193: Ampol. 60; Ansctt, 130; Assoc Sec, 44; ANZ, 348; AGC, 133; ANI, 120: NSW. 316; BMI, 77; Boral, 213; Brambles. 155; BHP, 572; Bunda-J berg. 325; Burns P, 193; Burns P SS, 300; W R Carp, 121:1 C’maine, 430: Clyde, 130; Coal; All, 316; CSR. 308; Coles. 169;: Comalco. 310; CBC, 163: EZI. 280; Elders, 202; Fairfax, 174: Acmll, 70; Hanimex. 92; J Hardie, 415; Hooker. 61; lAC, 68; ICI. 166; D Jones. 96: LNC, 138; Lend Lease, 230; MLC. 275: MarrickvUle, 70; Mauri Bros, 63: Myers, 200; NZ Forest. 185; News, 180: 011 ms. 14; Petersville. 85; Pioneer Cone. 119: Protector, 80; Provincial, 95; Sims, 95: Sleigh, 64; Soul, 425; Sth Brit, 220; Taubmans, 85;

.Thiess. 235; Tooheys, 123; Tooth, 187; TNT. 123; Waltons, 84; Wwths. 147. Mining, oil.—Allstate, M; Asaoc Min. 140; BMlle. 106: BH Sth, 125: Abminco, 43; Cons Gold, 205; CRA. 275; Emperor, 35; GMK, 40: Hamerslev. 28o; Hill 50 Gold, 6; Kath Inv. 154: MKU, 39; MIM, 193; Peko-W, 514: Placer Dev, 550; Oakbridge, 145; Old Min, 250; Robe River, 95; Tasminex, 25; Southland. 26; WMC, 144; Westralian, 16; Woodsreef, 9; Ampol Ex, 112; AAR. 81; Beach, 81; Bridge, 40; Genoa, 19; Longbeach, 15; Oil Search, 8J; Pexa, 80; Vamgas, 26; Woodside, 81.

MELBOURNE Industrial.—ANl, 123; Ampol, 60; Ansett, 130; ANZ, 347; ARC, 101; Assoc Pulp, 93; APM, 120: NSW. 516; Boral, 212; BHP, 574; Brolite, 130; Comalco, 310; CU8Z,193; Coles, 168; CSR, 310; CBA, 286; Com Union. 58; Dunlop, 102; Email. 66; EZI. 282; Acmll, 70: Gordon G, 128; Hardie Trade. 165: Hooker. 62; Humes. 73; TCI. 165; Jennings, 111; H Jones. 70: Kauri, 23; Mayne Nick, 145; Mcllwraith, 125; McPhersons, 55; Nylex. 42: P. Morris, 702; Myers. 200; Nat Cons, 126; News. 180; Olympic, 39; Overseas, 118; Petersville. 85; Repco. 130; Sleigh. 6-1; Smith How. 350; Swan. 140; TNT. 122; Wehl. 140. Mining, oiI.—AAR. 82; Aberfoyle, 117; Aust Dev, 26; Basin, 4; Beach, 8: BH Sth, 125; Cent Norse, 440; Cons Gold. 200; CRA, 274; Hamerslev, 295; Metals Ex, 19; MIM, 194; Oil Search, 8; Renison, 550: Santos, 180; Southland, 26; WMC, 144.