Australian stocks close firmer
' The rally which raised prices during morning trading on Australian stock exchanges eased during the afternoon session, 'with
profit-taking evident. The all-ordinaries index closed 5.5 points up at 470.8, the all-resources ' 8.3 points better at 343.0, and the all-
industrials added 1.3, at. 627.8 points. The metals index jumped. 12 points before lunch but slid back to record a seven point gain for the day. Woolworths brought interest back , into the Grace Bros battle with a shard and note take-over offer. Woolworths shares were cut back to-153c after, the Announce-' ment, valuing Grace Bros ordinary shares at 335 c compared with the on-market price of 355 c. . The offer values Grace Brothers'at $193 million. ♦ Woolworths revealed a
holding of 6 per cent of Grace Bros. Only 70,400 Grace Brothers shares changed hands. Waltons Bond remained steady on the news but other
retailers were stronger, with Myer adding 7c to 145 c and Coles 2c to 212 c. BHP was 6c higher at 710 c, CRA added 10c, at 285 c, and CSR 13c at 275 c.
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Press, 30 June 1982, Page 22
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180Australian stocks close firmer Press, 30 June 1982, Page 22
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