Aust. market eases

Press, 9 June 1982, Page 24

Aust. market eases

A rise in gold prices in New York failed to inspire the metal sector of the Australian sharemarket yesterday, and prices eased in line with the. bearish trend on Wall Street. At the close, the Australian all-ordinaries index was down 1.4 points to 491.1, its lowest mark since April 22. Brokers said the market looked fixed in a bearish trend and only a much-pre-dicted rally oh Wall Street, or a sharp increase in overseas buying of Australian stocks, would break the mood. Situation stocks were prominent. BT Australia sold a 15.5 per cent stake in Peter Kurts, the building contractor, for sAust2.BM. More than 2M shares were handled by Rivkip and Co. at 140 c, 5c above r the previous sale price. The shares, held by Pendal nominees, went to the Government Insurance Office of New South Wales. TCI Australia incurred one of the heaviest falls, after reporting a. 27.5 per cent

decline in profits in the six months to March. On the oil front, Offshore Oil fell a cent in spite of indications of hydrocarbon bearing sands in its West Barrow No. 1A well, offshore Western Australia. Jennings Industries closed steady at 135 c in busy trading. Brokers said that Dillingham Corporation of the United States may be increasing its holding in Jennings, but other suggested buyers are Lei Holdings and Consolidated Press. Jennings teamed up with Dillingham earlier in the year to increase its overseas construction work and Dillingham gained board representation after a placement of shares was made to Dillingham. Industrials.— Amatil, 212; ACI, 147; AGC, 230; Ampol, 135; ANI, 270; ANZ, 381; APM, 188; ASC Props, 95; Assoc Pulp, 160; Advertiser, 125; AWA, 307; Bundaberg, 230; BHP, 758; Brambles. 22; BMI, 156; NSW, 270; Boral. 238; Bums P.. 220; Carrier, 172; Carp. .155; CIG, 215; Clyde, 145; Comalco, 195; C'maine, 382; Coal

All, 470: Coles. 215; CSR, 285; Courtaulds, 105; CUB. 205; Dunlop. 100: Elders. 312: Email, 140; EZI. 390; Flexdrive, 190; Forestwood. 310; Gen Prop, 152: Gordon Gotch. 190; Hooker. 101; Humes, 118: Herald. 275; ICI, 152; Ind Equity. 250; Jennings. 135; Kero Corp, 65; Lend Lease. 350; Lifesavers. 245; Mayne Nick, 225; McPhersons. 120; Monier, 109; Myer, 136; Nat Bank, 255; Nat Cons. 115: News Corp, 225; NZ Forest. 215: Oakbridge, 142; Pion Cone. 135; Pion Sugar, 105; QBE Ins. 245; Repco. 120; Rothmans, 560; Sleigh. 91; Smith. 370; Taubmans, 130: TNT, 195; Tooths. 263; Union Carb, 178; Wwths, 168; Wormaid, 255.

Mining.— Aberfoyle, 480; Aust Dev, 30; Allstate, 26; Ashton. 93; BH Sth. 310; Bougainville, 118; CMI, 200, Cent Norse, 430; CRA, 294; Cons Rutile, 330; Emperor, 70; ERA, 162; Gold Mines, 330; Hill 50, 28; Mid East, 70; Mallina, 80; MIM, 275; MKU, 26; Nth BH, 180; Placer, 900; Peko, 435; Poseidon, 150; Renison, 255: Robe River, 105; Umal, 180; WMC. 344.

Oils.— Ampol, 250; AOD, 125; AOG. IOO; Bridge, 345; Hartogen, 250; Magellen.26s; Oilsearch, 14; Pancont, 33: Sth Pac, 21; Santos, 530; Stirling, 3; Timor,'s; Vamgas, 740; Woodside, 77.