Aust. markets
The Australian sharemarket weakened sharply in response to an increase in interest yields on long-term bohds sold by the Reserve Bank yesterday. A belief that interest rates were again on the way up was widely held. The Sydney all ordinaries index eased 6.70 points to 584.45, mainly as a result of a fall of 24c by B.H.P, However, other industrials leaders also eased, including CSR, Bank of New South Wales, and the ANZ Bank. Mining shares, not normally affected by interest rates, also eased.
Reports that spot oil prices in North America had reached record levels was
• worrying the market, but i this news was reflected in i firmer gold prices and imi provements for selected rei sources stocks. Among highlights of the ; day was an overseas sale of i 330,000 shares in Renison at 1050 c a share. : On the home market Renii son gained 20c to 1080 c. ’ CRA fell 12c to 335 c, MIM fell 10c to 308 c, and Wes- . tern Mining lost 7c to 330 c. 1 Higher gold prices saw 1 Central Norseman rise 50c to 2750 c. The Rundle oil shale twins were well-supported ahead ■ of their annual meetings today. Central Pacific rose
40c to a record high of 1060 c, and Southern Pacific gained 5c to 410 c.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19790608.2.60.8
Bibliographic details
Press, 8 June 1979, Page 6
Word Count
218Aust. markets Press, 8 June 1979, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in