“No credit squeeze”
Australian share markets closed weaker yesterday. Some, banks made headway but leading industrial and mining stocks were lower.
The bank of New South Wales eased 2c to 520 c, but the National, ANZ, and CBA were up a few cents on a parliamentary statement by the Prime Minister (Mr Fraser) that a credit squeeze would be avoided.
Building issues declined on the lower housing-starts figures, but brewers and re-
tailers were generally steady. EZ Industries eased a fur-ther-3c to 185 c. CRA had a 3c drop to 195 c, and Bougainville, MIM, and North BH lost a few cents. Coals weakened, and uraniums and oils also gave up ground. Central Norseman retreated 10c to 920 c.
MELBOURNE SALES Industrials.— Ampol, 70; Ansett, 150; A.N.Z., 340; A.R.C., 118; Assoc. Pulp, 110; A.C.1., 156; A.P.M., 124; 8.N.5.W.. 518; Boral, 223; 8.H.P., 528; Bundaberg, 362; Cub. Z., 186; Coles, 185; C.S.K., 180; C.8.A., 250; Com. Union, 75; Dunlop, 127; Email, 92; E.Z.1., 180; Aemil, 70; Herald, 235; Hooker, 72; Humts. 99; 1.C.1., 203; Jennings, 128; H. Jones, 80; Kauri. 22; McPhersons, 62; Nylex, 54; Myers, 180; Nat. Bank, 240; Nat. Cons., 135; News, 235; Olympic, 47; Petersville, 96; Kepco, 113; Rocla, 82; Sleigh, 76; H. Smith. 322; Swan, 160; T.N.T., 105. Mining, oil.— Aberfoyle, 125; Aust. Dev., 70; Beach. 16; Cent Norse, 920; Cons. Gold, 240; C.R.A., 190; Hamersley, 222; Metals Ex., 15; M.1.M., 102; Mt Lyell. 17; Oil Search, 8; Renison, 670; Santos, 97; South Pac.. 68; W.M.C., 110.
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Press, 24 February 1978, Page 13
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250“No credit squeeze” Press, 24 February 1978, Page 13
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