Weak market in Australia

Press, 21 February 1978, Page 20

Weak market in Australia

The Australian market dropped yesterday, with leading industrial and mining stocks retreating, and lower metals overnight attracting sellers of mining shares.

B.H.P. eased 8c to 532 c, on concern over European steel shipments. A.C.I. gave up 2c to 155 c, and the Bank of New South Wales lost 6c to 530 c; other banking stocks were also weaker, where changed. Building related stocks gave up ground. Concrete Industries, Pioneer, Hooker, and Stocks and Holdings, all lost a few cents. CSR eased 2c to 278 c, and the market did not appear impressed with Bundaberg’s results and marked the stock back 5c to 360 c. The retailers also weakened, Myer, Waltons, and Woolworth fell a few cents. Uraniums, oils, base metals miners, the iron ore producers and the beach sands miners all came back sharply. Only the golds went against the trend, and Central Norseman rose 10c to 940 c. SYDNEY SALES Industrials.— -Acmil, 75; Amatil, 228; Ampoi Pet., 73; Ansett, 156; A.W.A.. 176; Assoc. Sec., 50; A. 339; A.G.C.. 165; A.N.1.; 148; N.S.W., 530; B.M.L, 96; Boral. 220; Brambles, 180; 8.H.P., 532; Bundaberg, 366; Burn P.. 215; W. R. Carp., 143; C’maine P., 410; Clyde 142; Coal AU.. 384; C.S.R., 280; Coles. 188; Comalco. 294; C.8.C.. 176: C.1.G.. 265; Cone. Monier, 173; Courtaulds, 48; E.M.1., 140: Email. 91; E.Z. Ind., 188: Elders. 192; Fairfax .166; Hooker. 73; ICI, 205; D. Jones, 102; Lend Lease, 250; Lifesavers. 196: Mauri Bros, 82; Myers, 185; N.Z. Forest. 181; News, 235; Oakbridge, 185: Olims. 16; Petersville 164: Pioneer Sugar, 125: Protector. 123: Provincial. 90; Q.B.E. Inds. 175; Rothmans, 278; Sims. 86; Sleigh. 78: Soul. 465; Swan Brew., 1?5; Taubmans. 98; Thiess. 175; To6heys. 164; Tooths, 169; T.N.T., 102; Waltons. 95; Woolworths, 165. Mining, oil.—Aust. Dev., 68; Assoc. Min.. 7; Bougainville, 105; B. South. 92; Abminco, 37; Com. Min.. 200; Cons. Gold. 245; Cons. Rutile. 55; C.R.A., 202: Emperor. 32: G.M. Kalg.. 85: Hamersley, 222; Hill 50 Gold. 16;

M.K.U.. 27; M.1.M., 166; Pancont., 1000; Peko, 546; Placer Dev., 1520; Qid Min., 175; Robe River, 79; Tasminex. 44; Southland, 20; W.M.C., 113; Westralian, 11; A.0.D., 17; A.0.G., 35; Ampoi Ex., 126; Beach, 16; Bridge, 87; Genoa, 33; Oil Search. 8; Pexa, 100; Timor 5; Vamgas, 48; Woodside, 76. MELBOURNE SALES Industrials.—A.N.l.. 148; Ampoi, 72; Ansett, 150; A.N.Z., 337; A. 18; Aust. Fert., 118; Assoc. Pulp, 110; A.C.1., 155; A.P.M.. 125; 530; Boral, 22j; B. 532; Comalco. 249; C.L'.B. Z. 185; Coles. 188; C.S.R., 278; C B.A. 248; Dunlop, 132; Email, 91; E.Z. Inds, 188; Acmil 75; Flexdrive. 155; G.U.D.. 170; Herald. 235; Hooker. 74; ICI, 203; Jennings, 128; 11. Jones, 82; McIlwraith. 135; McPhersons 63; Nvlex 55; Myers. 185; Nat. Bank, 238- Nat. Cons.. 137; News. 240; Olvmolc, 48; Petersville, 102; Repco, 114; Rocla. 84; Sleigh 77; H. Smith. 322; Swan. 166; T.N.T., 102; Uniroyal 165; Wehl 160. Mining, oil.—Aberfoyle 120; Aust. Dev.. 66; B.H. Sth, 92; Cent. Norse. 930; C.R.A.. 203: Hamersley. 222; Magellan, oO; Metals Ex., 15; M.1.M., 166; Oil Search, 8; Renison. 676; Santos. 97; South Pac.. 78; W.M.C.. 113.