No rush for miners
Australian sharemarkets were disappointed yesterday when overseas investors failed to rush resources stocks after the Federal Government’s decision to drop plans for a resources tax Volumes of shares traded increased, but fewer stocks made gains, and a greater number showed falls. B H.P. dropped 8c in early trading to 722 c, but rallied to close at 724 c. Banking stocks were generally steady or higher. The NSW gained 8c to 606 c, but the ANZ eased 2c to 308 c. Woolworths was up 2c to 160 c at the end of the storemen's strike, which stopped supplies to its stores. Pancontinental w r as up 80c to 1460 c in Sydney, but this was down 20c on the price of a parcel sold after trading on Monday. A m p o 1 Exploration, Santos, and AOG made gains.
Coal and Allied rose 8c to 418 c and Thiess was up, but i Oakbridge eased. , MIM and North BH were among stocks to ease a few < cents. i
Atherton Antimony dropped a cent to 79c ahead of the shareholders’ meeting to consider the acquisition of an interest in Goldfield Mines, Fiji.
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Press, 5 July 1978, Page 18
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194No rush for miners Press, 5 July 1978, Page 18
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