Main interest in oils

Press, 19 April 1980, Page 18

Main interest in oils

Oil and uranium stocks dominated trading on Australian stock exchanges yesterday as investors reacted to new United States warnings to oil-rich Iran.

Pancontinental mining, which suffered earlier in the week on poor reaction to the company’s plans to enter the oil exploration field, returned to grace with a 50c rise to 590 c, and Queensland Mines finished 50c higher at 660 c.

Santos led the oil sector with a 30c rise to 770 c, but Woodside, keenly sought by United Kingdom buyers, ran into profit-taking and finished 3c up at 210 c after hitting 214 c. A lack of direction from world commodity markets after President Carter’s speech subdued trading in the gold sector, and base metal stocks lagged in sympathy. 8.H.P., which also has wide oil interests, put on one of its best shows since .the beginning of the month with a 15c rise to 1210 c on news that it planned to start development of the big Ok Tedi gold and copper pros-

pect, in New Guinea, bynext February. Other industrial stocks were generally firm on light trading, but the banking sector was mixed on interest rate concerns. Industrial.—Amatil, 200; ACT, 200; Aust Fert, 145; AGC, 145; Acmjl, 88; Ampol, 97; ANZ, 432; APM, 158; Assoc Pulp, 185; ARC, 150; Assoc Props, 100; AWA, 305; Bundaberg, 285; BHP ; ■ 120 a; Brambles, 186; BMI, 145; Bank NSW, 293; Boral, 227; Burns P, 226; Borg-W, 235; Carrier, 185; Carp (W.R.), 168; CBA, 273) CBC, 285; CIG, 325; Clyde, 258; Comalco, 480; C’maine P, 300; Coal All, 930; Coles (G. J.), 184; CSR, 506; Courtaulds, 70; Com Union, 110; CUB. 183; Dunlop, 79; Elders, 255; Email, 120; EZI, 610; Fairfax, 141; Fiji, 250; Gen Trust, 150; GUD, 190; Hardie, 385; Hooker, 100; Hanimex, 122; Humes, 123; Herald, 224; ICI, 227; Ind Equity, 245; Jennings, 84; Jones ID.), 127; Jones (H.), 160; Lend Lease, 340; Lifesavers, 235; Mayne Nick, 180; McPhersons. 131; MLC, 610; Monier, 165; Mauri Bros, 80; Myer. 161; Nat Bank, 240; Nat Cons. 130; News, 210; Nylex, 106; NZ Forest. 233: NZ Ins, 220; Oakbridge. 320: Olympics, 98; Overseas. 103; Pion Cone, 180; Pion Sugar, 275; Petersville, 124; QBE, 180; Repco, 101; Rothmans, 245; Sleigh, 115; Smith (IL). 770; Swan Brew, 177; TNT. 230; Tooths. 190; Waltons, 58: Wwths. 145/ Mining.—Aust Dev, 90; Allstate, 120; Ashton, 228; Assoc Min, 255; Bougainville. 215; Cons Gold, 570; Cent Norse, 600; CRA, 490; Carr Boyd. 43; Cone Buttle, 380;

Cudgen. 130; Gem Ex, 62; Gold Mines Kalg. 420; Gold Copper, 100; Hamersiey. 375; Hill aO Gold, 52: Mid East. 17; Metals Ex, 122; MIM. 410: North BH, 285; Nth Flinders, 115; Pancont. 590; Peko, 700; Poseidon. 225; Qld Mines, 660; Queen Margaret, 29; Renison, 1550; Robe River, 103; Southland. 34; Tasminex, 62; Utah, 420; Woodsreef, 4; WMC, 392.

Oil.—Ampol Ex, 190; AOD, 47;' AOD, 132; Beach, 110; Bridge, 288; Hartogen, 315; Longreach. 32; Magellan, 330; Oil Search, 30: South Pacific, 1450: Santos, 760; Stirling 40; Timor, 16; Woodside, 210.