Firmer trading

Press, 28 November 1979, Page 24

Firmer trading

The decision by major United States banks to cut the prime rate from 15J per cent to 15J per cent put a note of optimism, not seen for more than a week, back into the Australian sharemarket yesterday. The United States moves indicated that Australian interest rates were now not likely to rise in the shortterm. The market tone was firm, underpinned by increased local buying support, and some overseas money spurring the market ahead in the afternoon trading session. B.H.P. recovered 14c at 934 c. The announcement by John Fairfax, that it had bought 15 per cent of the Herald and Weekly Times, failed to inspire the market and Fairfax shed 12c to 130 c. The Herald shares were steady at 360 c. There was further large turnover in the shares of building supplies group Acmil, with 540,000 shares changing hands, up 2c to 97c, on increased speculation of a counter; takeover offer. I

The Bank of Adelaide shec 2c to 120 c on reports that the ANZ Bank might be considering withdrawing from the scheme of arrangement. In the energy sector Ampol Exploration rose 10c tc 200 c, and Woodside Petroleum was up 3c to 170 c Thiess was steady at 660 c, Utah rose 15c to 375 c, anc White Industries movec ahead 5c to 480 c. Western Mining rose 3c to 306 c, CRA was steady al 340 c, and PancontinentaJ firmed 10c to 1430 c. Industrial. —Amatil, 210; A.C.I, 203; Aust. Fert., 168; A.G.C., 138: Acmil, 97; Ampol, 120; A.N.I, 180; A.N.Z.. 368: A.P.M.. 133; As soc. Pulp, 235; A.R.C.. 112; Assoc Props, 112; Ansett, 175; Adver User, 172; A.W.A., 285; Bunds berg, 620; B.HJ>.. 932; Brambles 185; 8.M.1., 108; Bk N.S.W., 267: Boral, 205: Burns P.. 253: Car rier, 130; W. R. Carp.. 168; C.B.A. 245: C.8.C., 241; Monier, 164: Clyde, 196; Comalco, 365: C’maine P., 300; Coal All., 780; G. J Coles, 192; C.S.R., 424; Court aulds. 60; Containers, 270; Com Union. 69; C.U.8., 185; Dunlop 79; Elders, 218; E.M.1., 101: Email 98; E.Z.1., 443; Fairfax. 130: Ger rard. 175; Gen. Prop. Trust, 153 G.U.D. Hlds. 2180; Hardie Trade 312; Hooker, 81; Hanimex 185: Humes, 125; Herald, 362; ICI 226; Ind. Equity, Z7O; Jennings

l 81; D. Jones 152; H. Jones, 125;: , Kauri, 23: Lend Lease, 265; | ' I .N.C., 191; Lifesavers, 235;! ■ Mayne Nick, 190; McPhersons,! I 105; M.L.C., 465; P. Morris, 574; Mauri Bros. 79; Myer, 145; Nat. Bank. 255; Nat. Cons., 135; News, 375; Nylex, 78; N.Z. Forest, 240; i Oakbridge, 298; Olims. 44; Olympics, 72; Overseas 114; Pion. ' Cone., 170: Pion. Sugar. 215; Pro- ■ lector, 220; Petersville, 128; Q.B.E. Inds., 163; Repco, 120; I Rocla, 78: Rothmans, 230; Sth British, 248; Sleigh, 100; H. ! Smith, 578; W. H. Soul, 690; Swan Brew. 156: Thiess, 660; , T.N.T., 168; Tooheys, 187; • Tooths, 186; Union Carb., 240; ; Waltons, 68; Wehl, 170; WNvths, | 134. Mining.—Aberfoyle, 369; Aust. Dev., 58; Allstate, 40; Ashton, , 170; Assoc. Min., 265; B.H. : Sth, 330; Bougainville, 210; Cons. , Gold, 550; CALL, 285; Cent. ■ Norse, 720; C.R.A., 340: Carr , Boyd, 30; Cons. Rutile, 275; Cud- ■ gen, 110; Emperor, 90: Gold 1 - Mines Kalg.. 252; Hamersley, 295; , Hill 50 Gold. 31; Kath. lnv„ 600; ; Mid East, 52: 308; Mt ■ Lyell, 105; Nth 8.H., 253; Nth , Flinders. 87; Pancont.. 1430; ; Peko, 640; Project Mining, 160: i Paringa. 90; Poseidon, 135; Qld . Mines 590; Renison, 1420; Robe ■ River, 100; Southland. 26: Tas-, . minex. 60; Utah, 375; Woodsreef, , 3; W.M.C., 305; WestraUan. 22. , Oil.—Ampol Ex, 200; A.0.D., - 34; A.0.G.. 103; Beach. 77; ;; Bridge, 360; Hartogen 215: Long- . reach. 4J: Magellan. 310; Oil Search, 15; South Pacific, 850; . Santos. 570; Timor, 7; Vamgas, ,1235; Woodside, 170.