Oil stocks back in limelight

Press, 6 May 1980, Page 34

Oil stocks back in limelight

Oil stocks returned to centre stage on Australian stock exchanges, .yesterday, on speculation of another round of oil price rises after the O.P.E.C. meeting next week. Otherwise trading was dull and easy. The Surat Basin oil discoverer, Hartogen, led the rally with a 15c rise to 360 c and the Cooper Basin partners, Santos and Vamgas, each added 10c to finish at 850 c and 440 c respectively. Traders said that further indications that the United States was headed for a major recession dulled trading elsewhere in the market. Selected uranium stocks also made gains, but a 30c fall by Queensland mines, to 720 c, took the edge off takeover rumours. Coal stocks were generally subdued as the N.S.W.Queensland coal dispute gathered momentum; 8.H.P., which has had to cut iron production as a result of the

> dispute, fell 15c to 1200 c. i Elsewhere, sellers nar- , rowed the gap between • Tooths and- its proposed • merger partner, Hooker, by t Chipping 7c off the-stock to 198 c. while Hooker added a ; cent to finish at 99c. Gold stocks made little progress in the light of i drifting world prices, and : the leading miner, Bougainville, closed 8c lower at , 197 c. : The market also showed little interest in the. news ■ that two more contracts had I been awarded for the north i west shelf gas project and . the project major, Woodside, fell 4c to 224 c. > Industrials.—Amatil, 203; A.C.1., ■ 204; Aust. Fert., 145; A.G.C., 135; I Acmil, 88; Ampol, 104; A.N.1., 1 242; A.N.Z., 425; A.P.M., 164; As- ■ soc.. Pulp, 195; Advertiser, 155; A. 305; Bundaberg. 300; , 8.H.P., 1200; Brambles, 190; B. 70; N.S.W., 291; Boral, ■ 235; Burns P., 230; Borg W., 255; ! Carp., 165; C.8.A., 260; C.8.C., 274; CJ.G., 360; Clyde, 265; Co- ’ malco, 465; C’maine, 290; Coles, 184; C.S.R., 508; Containers, 268; I C.U.8., 182; Dunlop, 77; Elders,

265; E.M.1., 102; Email, 113; E.Z.L, 620; Fairfax, 147; Fiji, 254; Forestwood, 250; Gen. Prop. Trust, 145; G. 185, Hardie, 300; Hooker, J 9; Hanimex, 118; Humes, 127; Herald, 219; ICI, 210; Ind. Equity, 250; Jennings, 94; D. Jones, 130; H. Jories, 158; Kauri, 35; Lend Lease, 3o0; L.N.C., 180; Lifesavers, 245; Mayne Nick., 185; McPhersons, 135; M.L.C. 620; Monier, 167; Mauri, 81; Myer, 148; Nat. Bank, 235; Nat. Cons., 130; News Corp, 210; Nyiex, 115; N.Z. Forest, 230; Oakbridge, 300; Olympics, 100; Pion. Cone., 188; Pion. Sugar, 270; Petersville, 124; Repco, 99; Rothmans, 248; Sth Brit., 240; Sleigh, 108; H. Smith, 720; Swan, 180; Taubmans, 105; T.N.T., 238; Tooths, 198; Union Carb., -280; Waltons, 60; W’wths, 145. Mining,—Aberfoyle, 570; Aust. Dev.. 90; Allstate, 110; Ashton, 235; Bougainville, 200; Cons. Gold, 620; Cent Norse, 600; C.R.A., 500; Carr Boyd, 40; Cudgen, 135; Emperor, 140; Gem Exploration, 69; G.M. Kalg., 400; Gold Copper, 115; Hamersley, 372; Hill 50 Gold, 60; Kath. Inv., 620; Mid East, 20; Metals Ex., 112; M.1.M., 390; Nth 8.H., 308; Nth Flinders, 115; Pan. Cent., 530; Placer, 410; Peko, 690; Paringa, 100; Poseidon, 218; Qld Mines, 710; Queen Marg., 28; Renison, 1600; Robe River, 105; Southland, 32 Utah. 415 Woodsreef, 4; W.M.C., 390. Oils.—Ampolex., 210; A.0.D., 53;

A.0.G., 148; Beach, 140; Bridge, 320; Hartogen, 360; Longreach, 26; Oil Search, 30; Sth Pac., 1620; Santos, 860; Stirling, 40; Timor, 17; Vamgas, 440; Woodside, 225.