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Diamonds lead rally

Speculative buying in diamond shares helped push the Australian market up in another day of firm trading yesterday. Prices generally rose in reaction to firmer overseas markets and a rise in the value of the United States dollar, but it was the diamond shares which attracted .most interest. Rumours connected with the Ashton joint-venture lift’ed the prices of the partners CRA. Ashton, and Northern Mining. Oil issues also traded higher with Ampol firming 3c to 128 c. Woodside gaining 2c to 67c, and Santos rising •5c to 210 c. Coal stocks traded steady. Uraniums were mostly firmer, except for Pancontinental which slid back a further 30c to 960 c, because of Aboriginal object-

ions to the Jabiluka mine. i B.H.P. closed unchanged; while CSR eased. Banking I

jissues firmed except for the I;ANZ which dropped 5c to J 380 c.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19781205.2.126.14

Bibliographic details

Press, 5 December 1978, Page 23

Word Count
143

Diamonds lead rally Press, 5 December 1978, Page 23

Diamonds lead rally Press, 5 December 1978, Page 23