Aust. market
Interest in gold stocks and mining heavyweights saw large rises across the boards on Australian stock exchanges yesterday. Central Norseman gold surged ahead 80c to close the day at 800 c in line with higher overseas bullion prices. G.M.K. moved 22c higher to 260 c, and Poseidon rose 17c to 155 c. Brokers said local and, overseas investors had re-j gained confidence in the 1 market, with the all ordijnaries index jumping 1.87} [points to 674.84 points. Coal stocks also moved I ahead; Utah gained 5c to : 390 c. Coal and Allied Industries surged 10c to 700 c, and Oak- 1 bridge gained 2c to 205 c. I
I Western Mining moved: ' ahead 10c to close at 330 c: . on the announcement that; ■ the Federal Government had approved the Roxby Downs! I deal between W.M.C. and • the B.P. group. This allows for a 51 per cent Australian participation in the development of the copper, uranium, and gold ! prospect, and is considerably lower than the previously I; stipulated 75 per cent local [stake in uranium projects >[that the Federal Government has insisted on. Peko-Wallsend. which has (tendered for the Federal II Government’s 50 per cent ■stake in the venture, rose: 14c to 710 c. C.S.R. jumped 8c to 448 c, ■'but Ansett traded steady at 1185 c.
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Press, 11 October 1979, Page 28
Word Count
218Aust. market Press, 11 October 1979, Page 28
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