Selective trading
Situation stocks stood out yesterday in Australia, and the industrial sector was supported by optimistic forecasts about next month’s Federal Budget. The large sales of E-Z Industries shares continued, with the price steady at 360 c. It was thought that North BH was the major buyer. After news of a scrip issue, MIM gained 15c to 333 c, before easing to close at 325 c. B.H.P. rose 14c at 954 c, but CSR was down 2c to 348 c. T a k e-over speculation gave Humes pipe manufacturer, a lift, but the directors told exchanges they knew of no reasons for the price gains, and the shares closed at a steady 125 c. Beneficial Finance slipped below par, to 49c, despite reports of a favourable response to measures taken to
bolster confidence in the company. Kathleen Investments gained 10c to 400 c on takeover speculation.
Ashton and CRA eased again.
Gold stocks were mainly lower.
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Press, 12 July 1979, Page 18
Word Count
157Selective trading Press, 12 July 1979, Page 18
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