Australian market
The recently acclaimed oil and gas sector took a sound hiding yesterday to send the Australian sharemarket crashing through the psychologically important 540 point barrier to a two-vear low.
Behind the sharp decline, which was felt across the boards, is a growing belief that the substantial deficit in President Reagan’s proposed budget means that high U.S. interest rates are here for all of 1982.
Also, market analysts said there is little buying support even at current weakened prices, while sellers flood into the market to part with blue-chip stocks.
Industrials—Amatil. 245. ACL 156; AustFert. 130; AGC. 231; Ampol. 150; ANZ. 415: APM. 195; ARC. 300; ASCProps. 106; AssoePulp. 160; AWA. 325; Bundaberg. 280; BHP. 884: Brambles. 238; 8M1.145; NSW. 280; Boral. 280: BurnsP. 250; Carrier. 210; Carp. 185; CIG. 225; Clyde. 195, Comalco. 152; C'maine. 345; Coal All, 660; Coles. 223: CSR. 355; Courtaulds. 65; ComUnibn. 65;
CUB. 257: Dunlop. 99; Elders. 430; Email. 130; EZI. 410; Fairfax. 160; FibreCon. 110; Forcstwood. 245; GUD. 163; Hardie. 355; Hooker. 123; Hanimex. 101: Humes. 136; Herald. 275; ICI, 158; Jennings. 140; Kerncorp. 100; LondLease. 350; Lifesavers, 265: Mayne Nick; 238: Monier. 106: Myer. 143; Natßank. 275; NatCons. 145; N’ewsCorp. 245: N’ylex, 182; Oakbridge. 175: PionConc. 145; Pion Sugar. 135; Repco, 130; Rothmans. 500; Sleigh. 112; Smith. 450; Taubmans. 140; TNT. 245; Tooths. 198: Union Carbide, 205: Waltons. 75; Wwths. 157: Wormaid. 260.
Mining.—Aberfoyle. 530; AustDev. 60; Ashton. 102: Bougainville. 113; Cent Norse. 530; CRA. 280; Emperor. 78; ERA. 128: GemE'x. 50; Gold. Mines. 480; Gold Copper. 35; Hill 50. 38; Mid East, 14; Metals Ex. 60; Mallina. 12; MIM. 301; MKU. 26; Nthßll. 245; Peko. 584; Paringa, 95; Poseidon. 200: Renison. 365; Robeßiver. 85; Southland. 38; Tasmihex. 35; L’mal. 175: Woodsreef. 10: WMC. 376.
Oils.—Ampolex. 290: ADD. 150; AUG. 150; Bridge. 430; Hartogen. 570; Magellan. 350; Pancont. 41; SthPac. 31; Sanios, 580: Stirling. 10; Timor, 7; Vamgas. 990; Woodside. 104.
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Press, 10 February 1982, Page 22
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320Australian market Press, 10 February 1982, Page 22
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