Heavy selling in Aust.

Press, 27 November 1979, Page 20

Heavy selling in Aust.

Heavy selling across the boards on speculation of an increase in domestic interest rates in line with overseas increases caused share prices to fall on Australian stock exchanges yesterday. Brokers said the bearish sentiment was aided by the unrest in the Middle East with jittery investors pulling out of the market. However there was a slight recovery towards the end of the afternoon trading session for some selected mining stocks. Market leader B.H.P. took the brunt of the selling onslaught, falling 26c to 9.20 c. The energy sector suffered a similar fate, except for Thiess, with Woodside Petroleum losing 8c to 167 c and Bridge Oil 10c to 365 c. Thiess, which is battling CSR’s take-over attempt, firmed 10c to 660 c while Coal and Allied traded steady for most of the day at 780 c. On the industrial boards Ansett rose 18c with broker Vinton Smith, Dougall aggressively bidding the stock up to its close of 180 c on a light turnover. Market

sources said that Dougall has acted before as an agent for the Perth broker, D. J. Carmichael, a past operator for Mr Robert Holmes a Court who is Ansett’s new chief executive. Industrials.— Amatil, 212; ACL 205; ACG, 138; Acmll, 95; Ampol, 114; ANI, 180; ANZ, 368; APM, 130; Assoc Pulp, 230; Ansett, 180; Advertiser, 172; AWA, 280; Bundaberg, 630; BHP 930; Brambles, 190; BMI, 110; B NSW, 268; Boral, 205; Burns P, 253; Carp (WR), 168; CBA. 245; CBC, 245; CIG, 260; Clyde, 196; Comalco, 365; C'malne. 300; Coal All. 780; Coles, 190; CSR. 420; Containers, 270; Com Union. 68; CUB, 186; Dunlop, 80; Elders, 220; EMI, 100; Email, 98; EZI. 440; Fairfax. 142; Gerrard, 170; Gen Prop Trust. 155; Hardie Trade, 314; Hooker, 81; Hanimex. 190; Humes. 125: Herald, 365; ICI, 226; Jennings, 84; D Jones, 150; H Jones, 125: Kelvinator, 156; Lend : Lease, 255; LNC, 185; Lifesavers 237; Mayne Nick, 195. Meyer, 145; McPhersons, 103; Mauri Bros. 78; .Nat Bank. 258; Nat Cons. 136; Nylex.i 76; NZ Forest. 232; NZI, 210; Oakbridge, 300; Olims, 45; Olympics,; 73; Overseas, 115; Pion Cone, 177; Pion Sugar, 220; Protector 220;, Petersville, 130; QBE, 165; Repco. 122; Sth British. 248; Sleigh, 101;, 11 Smith, 600; Soul, 660; Swan, 155; Thiess. 660; TNT. 165; Toohevs, 186; Tooth 186 Waltons, 68; | Wehl. 165; W’lwths. 135. I Mining.—Aberfoyle, 370; Aust, j Dev.. 60: Allstate. 40: Ashton,

170; Assoc. Min., 265; B.H. Sth, 335; B’ville, 210; C.M.1., 280; Cent. Norse, 750; C.R.A., 335; Carr. Boyd, 30; Cons. Rutile, 280; Cudgen. 105; Emperor, 90; G.M.K., 252; Hamersley. 305; Hill 50 Gold, 31; Kath. Inv., 600; Mid East, 52; Metals Ex., 70; M.1.M., 302; M.K.U., 95; Mt Lyeli, 102; Nth 8.H., 253; Nth Flinders, 90; Pancont, 1420; Peko-W, 656; Project Mining, 150; Paring*, 90; Poseidon, 140; Qld Mines, 590; Reni-; son, 1450; Robe River, 100; Southland, 26; Tasminex. 60; Utah, 3604; Woodsreef, 3; W.M.C., 305; Westralian, 22. Oils.—A.A.R., 400; Ampol Ex., 190; A.0.D., 35; Beach, 79; Bridge, 365; Hartogen, 215: Longreach, 4J; Magellan. 300; Oil Search, 15; South Pacific, 840; Santos, 570; Timor, 8; Vamgas, 235; Woodside, 168.