Australian market quietly easy

Press, 10 August 1982, Page 16

Australian market quietly easy

■ In one of the quietest trading days this year prices on Australian Stock Exchanges eased in most sectors. Brokers anticipated falls in line with falls in London and New York stock. Opening quotations were marginally down, and the absence of sellers delayed any significant'falls until the afternoon session. 7 _■ " .. ■. The-, all-ordinaries index; ended 3.3 points off at 464.9. the all-resources lost four - points to 340 points, and the all-industrials was 2,6 points off at 613.9. Overseas sales were few, with 200,000 Oil Company of Australia shares sold at 63c and 25,000 Alliance. Oil at 115 c, its closing price. OCA closed in Sydney at 65c for a 3c gain. A.G.L. attracted attention.

with 196.000 sold overseas at 282 c. Resource stocks recorded bigger falls with CRA down 10c at 305 c as was Santos at 485 c, and Crusader at 410 c. MIM was 7c off at 278 c and WMC 5c poorer at 300 c. Bridge Oil dropped 5c to 250 c and the rights 3c to 153 c — . ’.both on small turnovers. BHP lost 4c to 670 c, and CSR shed 7c to 265 c. Stockbrokers were bearish about industrial stocks in the short term, with the lower '. yielding issues expected to be hardest hit. Their optimism is confined to the industry’s belief that next week’s Federal Budget may contain provisions that will result in the eradication of the double taxation of company dividends. )