Market at year’s high

Press, 10 August 1979, Page 6

Market at year’s high

A big increase in London buying pushed Australian share prices higher yesterMining, and top industrial stocks making gains, and the leading indices reached new highs for the year. In special sales 2.2 M Ansett shares were booked at 170 c, and are thought to have gone to the “friends of Ansett.”

The only other special was of 661,000 shares at 166 c, which the market understood went to Ampol. This tended to overshadow trading in Ansett shares which fell sharply in price. On-market buying thought to be on behalf of Ampol Petroleum. Ampol Petroleum shares closed steady at 68c. The Beil Group announced that it had increased its Ansett holding to 12.5 per cent

appeared to withdraw from the market. On the market Ansett shares fell sharply, to 145 c in early trading, but in Sydney only they recovered to close at 160 c for a net loss of 6c. Bell Group shares — not often traded — gained 41c to 526 c. C.S.R. rights were traded for the last time, and the ordinary shares firmed 20c to 375 c. B.H.P. gained 16c at 956 c. Email’s three-shares-for-two offer to complete its take-over of Kelvinator resulted in Kelvinator firming 16c to 150 c.. Improved London commodities prices, and higher gold prices helped push mining stocks higher. Oil stocks made gains, and Woodside Petroleum ended 3c higher at 107 c.

AUSTRALIAN SALES

Industrial.—ACl, 190; Acmil, 68; Advertiser, 186; AGC, 133; Amatil, 235; Ampol, 68; Ansett, 160; ARM, 130; ANI, 177; AN?, 352; ARC, IQ7; ASC Props, 110; Assoc Pulp, 195; Aust Fert, 170; AW A, 250; Bank NSW, 285; BHP, 958; BMI. 106; Bp r al, 24; Borg W, 250; Brambles. 175; Bundaberg, 460; Burns P, 230; Carp (WR), 160; C’maine P, 318; CBA, 252; CBC, 243; CIG, 258; Coal AU, 880; Coles, 219; Comalco, 400; Cone Mopier, 160; Containers, 238; Courage, 43; CSR, 375; CUB, ITO; Dunlop, 87; Elders, 195; Email, 108; EMI. 90; EZJ, 350; J Fairies, 133; Gen Trust, 155; Haninmx, 132; J Hardie. 335; Herald, 248; Hooker, 82; Humes, 115; Ind Equity, 220; ICI, 225; Jennings, 75; D Jones, 119; H Jones, 118; Kelvinator, 150; Lend Lease, ?55; Lifesavers, 200; LNC, 190; Mauri Bros, 79; Mayne Nick, 182; McPhersons, 90; MLC, J 75; P Morris, 522; Myers, 157; . NZ Forest, 217; Nat Bank, 242; Nat Cons, 125; News, 288; Nyiex, «0; Oakbridge, 147; Ohms, 30; Olympics, 67; Overseas, 112; Petersville,

126; Pioneer Cone, 137; Pioneer' Sugar, 150; QBE, 150; Repco, 120; I Rothmans, 286; Sleigh. 68; H Smith, 572; Soul, 550; Sth Brit, 252; Swan Brew, 149; Thiess, 400; TNT, Is 3; Tooheyg, IM; Tooths, 166; Union Carb, IBS; Waitona, 66; Webl, 135; Wwths, ISI. Minins.-Aberfoyie, 166; Au«t Dev, 55; Allstate, 24; Ashton, IM; Assoc Min, 182; BH Sth, 190; Bougainville, 210; Com Geld, 380; Cent Noraa, 3395; CRA, 350; Carr Boyd, 39; Com Xutlle, 180; Cudgen, 72; Emperor, 64; G M Kalg, 148; Hanjersley, 255; Hill 50 Gold, 26; Katb Inv, 4*o; Magellan, 225; Mid East, 40; Metals Ex, 75; MIM, 350; MKU, 80; Mt Lyell, 75; Nth BH, ICT; Nth Flinders, 23; Pancent, 13S0; Pefco, 554; Project Min, 10; Paringg, 40; Poseidon, 99; Old Mines, 440; Repison, 1190; Robe River, 94; Southland, 27; South Paeiiie, 435; Santos, 330; Utah, 390; woedereef, 41; WMC, 273. Oil.—AmpoJ Ex, 162; ADD, I*l AOG, 90; Beach, 60; Bridge, ICT; Longreaeh, TO; Oil Search, 15; Timor. 7; Vamgas, 140; Woodside, 107.