Market reaches new peak
The Sydney sharemarket’s all-ordiriaries index broke an all-time record yesterday -as the start of a new account period in London set off a
new wave of .overseas buying. • , . At The close of trading the all-ordinaries index stood at 955.98, up from 939.97 on
Friday, and the - .previous record,of-947.47 points., The rush into - leading stocks pushed several to year-highs, including Western Mining which finned 26c to- 592 c, Consolidated Gold Fields, 60c at 920 c, and C.5.R.,. which rose another 20c to 776 c on the strength of improved, sugar prices'. Industrial stocks were also strong, led by B.H.P. which put on 25c to $15.35 and Acmil, .which gained 8c to 112 c in the midst of rumours of a take-over bid by the Brambles group. . . Oil issues were mixed after sharp rises last week, £ut Vamgas continued to.attract attention and added another 30c to 730 c but Woodside eased 2c to 3loc. Coal stocks were strong
despite a continuing strike at Queensland mines, and Utah rose 8c to 520 c, and demand for uranium issues pushed Peko 50c higher to 900 c and Pancontinental 20c to 730 c.
Gold stocks were mixed in the light of uncertain world trends, but Poseidon, managed a. 15c rise-to 440 c and the major producer, Bougainville, rose 10c at 265 c ahead of its interim result expected later this week.
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Press, 12 August 1980, Page 22
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230Market reaches new peak Press, 12 August 1980, Page 22
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