Easy market

Press, 3 June 1982, Page 20

Easy market

The sale by Alan Bond of the best' part of his 15 per cent stake in Santos fitted in nicely with market expect-ations,-and (prices were little/ changed ahead of the wellanticipated announcement. The SI37M deal had been confidently predicted by .market analysts for the last two weeks, and Santos moved up 4c yesterday to 560 c, but Bond was 2c lower/ at 137 c. Santos’ share price has;; gyrated since Bond said it ;, would sell a major asset, but 560 c has been the average price over the last fortnight. CSR was, cutback during the day on the expectation of poor- yearly results. - " The stock lost 10c to 298 c, and after the close of trading CSR reported: a 26.5 per cent profit slump for the year to March of J82.4M. Generally, situation in- ’ terest dominated trading'for the third day as prices moved downwards;: with metal stocks - falling most" after gold dropped. to its lowest level'since March on overseas markets. . At the close, the All-Ordin-aries Index was 3.2 points down at 5031, with the metal . sector, easing more than 10 points. However, it was Basin Oil, Reef Oil. Norman Ross, and CSR which caught the attention. .//• The Cooper’lßasin sisters, , Basin and Reef, were heavily $ traded after Bond sold off his ' major shareholdings in born to National Mutual on Tues'day. ... ■ Basin had just- under a million .shares handled, while

Reef had 400,000 shares sold, and National. Mutual s was believed to have bought hefty slices of Basin. . Brokers said that Reef ac- ' tivity involved speculative interest; the broker acting in the Reef market for National Mutual, Riykin and Company, was not on the boards. . Industrials.— Amatil, 215; ACI, 148; Aust Fert, 110; Ampol; 140; ANI, 275; ANZ,. 390/APM, 493; ASC -Props,'96; AssOc Pulp,l6o; AWA, 328; Rundaberg,'23s; BHP, 774; Brambles, *228; - BMI, .461; NSW; 276;'80ra1,.248;.P Burns, 223; Carp, 155; C1G,.'215; Clyde, .150; Comalco; 215; C’maine, 380; Coles. 215; CUB, 215; Dunlop, 105; Elders, . 320; Email, 135; EZI, .390; Gen \ Prop, 158; Gordon Gotch, 183; GUD. 455; Hooker, 107; Humes, 120; Herald,, 275; ICI, 167; Ind- Equity, 250; Jennings, 135; D Jones, 155; Kern Corp, 60; Lend Lease, 350; Lifesavers, 242; .Mayne Nick, 250; McPhersons,: 125; Monier, 111; P Morris, 270; Myer, 131; Nat Bank, 265; Nat Cons, 125; News Corp, 235; NZForest, 218; Oakbridge, 145; Pion Cone, 140; Pion Sligar, : 1’08; QBE Ins, 245; Repco,l23; Rothmans, 550; Sleigh, 91; Smith, 394; Taubmans, 125; TNT, 195; Tooths, 250; Union Carb, 180; Waltons, 68; Wwths, 169; Wormaid, 270. . Mining.—, Aberfoyle. 510; Aust Dev, 34; Allstate. ,26; Ashton, 90; BH ,Sth, ■ 310; .Bougainville, 119; CMI, 200; Cent Norse,'4ls; CRA, 300; Emperor, 65; ERA, 170; Gem Ex, 3; Gold. Copper. 30; Hill 50. 29: Mid East, 70; Metals Ex. 37; Mallina, 80; MIM, 289; MKU, 26: Nth BH, 190; Peko. 450: Poseidon. 158; Renison,: 270; Robe River. 105; Southland, 25; Umal, 185; WMC, 348; Westralian, 90. Oils.— Ampol, 250;. AOD. 133. AOG. 105;-Bridge, 335; Hartogen. 265; Magellan. 260; Oilsearch.. 14; Pancont, 34; Sth Pac, 21; Santos. 570; Stirling. 3; Timor ‘5- VamGas, 790; Woodside. 81