Australian market still falling
Resources stocks fell sharply yesterday as the sagging Australian sharemarket resumed its downward slide after a lack-lustre drift for most of the week. Nine major miners, three significant oils, and the key heavyweight, CSR, sunk to yearly lows. The bearish mood in minerals over-shadowed the situation stocks, but a modest increase from industrial issues cushioned the impact of the downward jolt in the resources sector on the rest of the market. The general market measure, the all-ordinaries index, fell 2.0 points to 559.5 but the index of all-metal-and-minerals stocks dropped
3.2 points to 404.5, its lowest level for more than two years. The index of all-resource
stocks slumped to the lowest level since its introduction nearly two years ago. It slipped 5.0 points to 434.2.
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Press, 21 November 1981, Page 17
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129Australian market still falling Press, 21 November 1981, Page 17
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