Aust. markets easier
Trading was easier on Australian stock exchanges yesterday — with an absence of major overseas buying, and investors apparently homing in on selected stocjcs. BHP eased 2c on the day, to 722 c while major banking and retailing stocks were steady. Some of the coal producers were favoured, and among them Coal and Allied rose 12c to close at 430 c; brokers pointed out that the company has announced major orders from Israel and Korea in recent weeks. While Utah dropped to 398 c with ' its industrial strife continuing, Thiess was up 11c to 286 c and Oakbridge traded steady at 175 c.
Among uraniums. Queensland Mines and Kathleen Investments eased, while Peko and Pancontinental rose 10c each. Mount Lyell was untraded; directors are meeting in Sydney to decide their stance at the coming talks with Commonwealth and
Tasmanian Government officials on the future of the copper mining at Queenstown. Hamersley fell 15c to 220 c on news that Japan was looking for shorter contracts for iron ore purchases, and possibly lower prices.
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Press, 6 July 1978, Page 10
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175Aust. markets easier Press, 6 July 1978, Page 10
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