B.H.P. at five-year high

Press, 20 February 1979, Page 22

B.H.P. at five-year high

The market leader, 8.H.P.,1 1 dominated activity on Aus- 1 tralian markets yesterday, I) with investors pushing the’i stock to a five-year high in i busy trading. Riding on projections of a record profit for the year < ending May 31 after a doubling of earnings in the i latest half-year, B.H.P. : jumped 35c to $10.60 on a 1 turnover of 190,000 shares. Elsewhere, mining stocks i

iwere active in the wake ofp I further gains on the London I; I Metal Exchange on Friday,!' ’and a still buoyant gold’ ! market. Central Norseman con- ! tinued its run, closing an- I other 300 c higher at $24.00. G.M.K. also benefited from I the rising gold market with : a gain of 7c to 112 c, while : Poseidon rose 6c to 73c. Peko led the advance’! among the mining heavy- >

I weights, closing 20c ahead lat 586 c, followed by C.R.A., [which gained 10c to 368 c. ! Western Mining. Bougainville, BH South and EZ Industries also made firm gains. On the industrial boards, the Bank of N.S.W. proved an exception to generally subdued trading. The Wales gained 12c to [352c, while Tooths Breweryrose 9c to 194 c, and Lend Lease 5c to 285 c.