Market in retreat

Press, 30 August 1980, Page 18

Market in retreat

Leading resource issues retreated across the boards on the Australian sharemarket yesterday, as both local and overseas traders deserted in the wake of reports that the United States copper miners strike was near settlement. Buyers attracted by weaker prices lifted selected stocks off the bottom, including M.I.M. which rallied from a low of 496 c to close 2c off at 516 c with the help of its record profit of S2O3M. , J But BHP, which finished last week at a 10-year-high

of $l6, finished at its day’s low of $l5 for a loss of 45c. An announcement that the Della No. 11 well in the Cooper basin had been completed as a gas producer failed to prevent a sell-off in the partners, and Santos dropped 20c to $13.40; Vamgas slid 50c to 600 c. The gold sector proved one of the few areas to hold up despite lacklustre world markets, and Central Norseman firmed 10c to $11.80; Poseidon added 5c to 495 c. In other trading, C.R.A. lost 4c to 620 c, Western Mining fell 6c to 580 c, Peko lost 20c to 940 c, E.Z. was 20c off at 630 c, Pancontinental slid 32c to 688 c, C.S.R. shed 6c to 746 c, Woodside was steady at 295 c, T.N.T. retreated 10c to 250 c and the Bank of N.S.W. eased 2c to 303 c. Industrials. —Amatil, 220; ACI, 215: Aust Fert, 145; AGC, 15a; Acmil. 101; Ampoi, 14a; AM, 290; ANZ, 480; APM, 219; Assoc Pulp. 220; ARC, ISO: ASC Props, 98; Ansett, 240; Advertiser, 162; AWA, 340; Bundaberg, 365; BHP, 1520; Brambles. 270: BMI, 180; NSW, 303;' Boral, 275; Burns P, 255; Borg W, 265; Carp, 195; CBA, 265; CBC. 316; CIG. 330; Clyde, 340: Comalco, 620; C’maine. 337: Coles, 225; CSR, 746; Containers, 345; Com Union, 70; CUB, 186; Dunlop. 84; Elder*,

330; EMI, 136; Email, 138; EZI, 630; Fairfax, 150; Forestwood, 350; Gen Prop Trust, 148; Gerrard. 180; Hardie, 410; Hooker, 110; Humes, 155; Herald, 220; ICI, 252; Ind Equity, 420; Jennings, 112; D Jones, 138; H Jones, 198; Lend Lease, 418; LNC, 191; Mayne Nick, 225; McPhersons. 172; MLC, 700; Monier, 180; Mauri, 85; Myer, 148; Nat Bank, 273; Nat Cons, 150; News Corp, 290; Nylex. 134; Oakbridge, 395; Overseas, 142; Pion Cone, 223; Pion Sugar, 345; Protector, 255; Petersville. 142; QBE Ins, 212; Renco,. 104; Rocla, 97; Rothmans. 295; Sth Brit, 260; Sleigh, 160; H Smith, 840; Soul, 760: Swan, 172: Taubmans, 120; TNT. 250; Tooths, 190: Union Carbide, 315; ' Waltons. 75; Wwths, 178; Wormaid, 415. Mining.—Aberfoyie. 750; Aust Dev, 170; Allstate. 175; Ashton, 290: Assoc Min, 330; Bougainville, 220; Cons Gold, 950; CMI, 320; Cent Norse, 1180: CRA, 620; Carr Boyd, 68; Cons Rutile, 540: Emperor, 265; Gem Ex, 70; GM Kalg. 360; Gold Copper. 150; Hamerslev, Hill 50 Gold, 80; Hath Inv, 670; Mid East. 25; Metals Fx. 155; MIM. 516: MKU, 70; Mt Lvell, 190: Nth BH, 380; Nth Flinders. 190; Pan Cont, 683: Placer. 1700: Peko Wall, Psringa, 1.15: Poseidon. 495; QJd Mines. 380: Oueen Marg. 46; Renison. 230 - Robe Biver, I'lO; Southland, 52; Tasminex. 75; Utah. 520; Woodsreef, 6; WMC, 530: Westralian. 34. Olis.—Ampol Ex, 260: AOD, 7a; AOG. 280; Beach. 150; Bridge, ■170; Hartogen. 550: Longreach, 29; Magellan. 350; Oil Search. 26; Project. 150; Sth Pae. 2350; Santos 1340; StlrUne. 25. and opts, 6: Timor, 18; Vansgas, 6QO; Woodaide, -288.