Australian market easy

Press, 29 June 1982, Page 20

Australian market easy

Prices eased marginally on the Australian sharemarket yesterday as traders reacted to the losses on Wall Street that followed the resignation of the U.S. Secretary of State, Alexander Haig. „ Brokers said the market was uninspired by an unexpected fall in the U.S. money supply of 2.3 billion U.S. dollars. The all-ordinaries index eased 1.2 points to 465.4, with the resource and industrial markers shedding a similar an «eL analysts added that many investors were waiting lor cleat indications from overseas markets before taking positions in the market. The retail tussle over Grace Bros maintained a low profile, with 298,000 shares handled at a steady 3511 c. Brokers, Rivkin and Co., Meares and Philips and

Potters were the buyers in generally speculative buying interest. On the oil front, Strzelecki 9, in South Australia's Cooper Basin, flowed 2200 and 2060 barrels of oil a day during upOf the partners. Santos eased 3c to 490 c, Crusader was unchanged at 430 c and CSR, with an interest through Delhi, was unmoved at 262 c. In other oil developments, Oil Company was a cent higher at 66c, with 260,000 shares sold. Brokers said a higher offer had been expected during the day from Hartogen. Hartogen is bidding for 14 million shares in Oil Company to take its holding to 40 per cent. Offshore Oil was static at 13c after announcing a S3OM loan in long-term funds to pay for gas fields and constniction of a liquified petro-

leum gas plant in Queensland. Brambles Industries dropped 2c to 198 c. with 83.000 shares traded. Brambles has made a con-

verlible note issue to raise S32M. In the gold miners. Central Norseman was unchanged at 340 c, Poseidon was 2c up at 132 c and Peko fell 15c to 375 c.