BHP leads Aust, market down
In spite of further encouraging signs on the home gas and oil front, and some bullish factors overseas, the Australian sharemarket slumped yesterday. Market analysts said that after business opened with a small rally to add to gains made last week, profit-taking took the upper hand with action centred on blue-chip miners. Australia’s premier stock, BHP, typified trading with the market leader taking a pounding late in the day to
drop through the psychologically important 900 c level. It closed 20c off at 896 c. Volumes were low, with many traders reluctant to take positions ahead of a reaction overseas to the Reagan Administration’s budget deficit figures for the current financial year.
Wall Street will respond tonight to the week-end announced $98,600M loss expected in the U.S. this fiscal year, compared with a deficit last year of $57,900M. Bullish reports of a fall in the U.S. money supply M-l and better world prices for gold and base metals failed to inspire investors. The. report of an increased gas flow and a 144 barrels a day of oil from the Petrel No. 3 appraisal well off Bonaparte Gulf, in the Northern Territory, gave the participants in the well, ADD and Offshore Oil, slight gains.
Rothmans rose 15c to 485 c after the report of a 45.8 per cent increase to sAustlo.BM in its profit for the last halfyear. Its result came days after its sector neighbour, Philip Morris, showed a profit slump of 22 per cent.
SALES
Industrials.—Amatil. 250: ACL 160: AustFert. 130; Ampol. 152; ANI. 292: ANZ. 425; APM, 200; ASCProps, 106; Assoc Pulp. 160; Advertiser, 205; AWA, 325; BHP. 900; Brambles. 245; BMI. 145; NSW. 280; Boral. 287; BurnsP., 250; BorgW., 160; Carp. 190; CIG, 230; Clyde. 200; Comalco, 152; C’maine, 348; Coal All, 700; Coles, 225; CSR. 360; Coutaulds. 65; CUB. 260; Dunlop, 99; Elders, 435; Email. 140; EZI, 410; Forestwood. 255; GordonGotch, 195; CUD. 165; Hardie. 360; Hooker,, 124; Hani-
mex, 102; Humes. 135; Herald. 280; ICI. 160; Jennings. 140; Kern Corp. 101; Lend Lease. 355; Lifesavers. 265; Mayne Nick. 245; MLC. 700; Monier, 109; Morris. 290; Mauri, 130; Myer, 146; NatBank, 280; Nat Con’s. 155; NewsCorp. 245; Nylex, 182; NZForest, 250; NZSB. 62; Oakbridge. 184; Olims. 51; PionConc. 152; Pion Sugar, 135; QBEIns, 240; Repco, 133; Rothmans. 485; Sleigh. 112; Smith. 450; Taubmans, 140; TNT, 245; Tooths. 198; UnionCarb, 210; Waltons. 75; Wwths, 160; Wormaid. 260.
Mining—Aberfoyle. 540; Allstate, 40; Ashton, 107; Bougain-
ville. 121; Cent Norse. 570; CKA. 282; Emperor. 78; ERA, 130; GEMEX. 50; Goldmines, 495; Gold Copper, 35; Hillso, 39; Magnet. 18; Mid East. 14; MetalsEx, 62; MIM. 310; MKU. 27; NthßH. 245; NthFlinders. 55; Peko, 554; Poseidon, 205; QueenMarg, 14; Renison, 375; Robeßiver, 84; Southland, 42; Tasminex. 35; Umal, 180; WMC, 390; Westralian, 70.
Oils—AmpolEx. 295; AOD, 155; AOG, 155; Beach. 120; Bridge. 435; Hartogen. 580; Magellan, 370; Oilsearch. 29; Pan Cont. 42; SthPac, 34; Santos. 600; Stirling, 11; Vamgas. 1020; Woodside, 109.
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Press, 9 February 1982, Page 20
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496BHP leads Aust, market down Press, 9 February 1982, Page 20
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