Australian market
The rally in resource issues strengthened on the Australian share-market, although sellers gained. the upper hand towards the close. Brokers said that institutional traders were active. Turnovers rose and rises outnumbered falls. Analysts attributed the buoyancy to the record trading on Wall Street, the escalating gold price, and indications of a further easing of U.S. interest rates after the U.S. Federal Reserve cut the discount rate to 10 per cent. Local brokers said there was growing buying support in the market’ but most were reluctant to forecast the length of the current rally. Central Norseman added 10c to 620 c, GMK jumped 60e to 560 c, Poseidon picked up 20 to 300, CRA firmed 15c to
365 c, Bougainville added 5c to 155 c, RGC increased 14c to 232 c, MIM improved 10c to 328 c, EZ advanced 15c to 425 c, and WMC rose 12c to 347 c. In oils, Santos was 20c up at 520 c, Bridge improved 15c to 280 c, Vamgas shot 50c to 700 c, Crusader rose 20c to 450 c, and Woodside was 4c up at 72c. Among industrials, ANZ added 5c to 345 c, ICI was a cent higher at 136 c, Woolworths finished 2c up at 145 c. Industrials.— Amatil. 212; ACI, 122; AGC. 215: Ampol, 123; ANZ, 345; APM, 177: ASC Props. 84: Assoc Pulp. 150; AW’A, 305; Bundaberg. 218; BHP. 730; Brambles. 197; BMI. 150: NSW. 247; Boral. 226; BurnsP, 205; Borg, 175; CIG. 200; Clyde. 135; Comalco, 210; C’maine. 355; Coal All, 500; Coles, 208; CSR, 279; CUB,' 195; Dunlop, 101; Elders, 257; Email, 110; EZlnds, 425; Gen Prop, 150; Gordon Gotch. 200; Hardie, 290:
Hooker. 96: Humes. 101; Herald, 220; ICI, 136; Jennings. 121; Ind Equity, 225; D Jones, 140; Lend Lease, 305; Mayne Nick, 230; McPhersons, 108; Monier, 110; Myers. 135; Nat Bank, 233; Nat Cons, 105; News Corp. 200; NZ Forest, 206; NZSB, 60; Oakbridge, 150; Pion Cone, 135; Pion Sugar, 92: OBEIns. 275; Repco. 108; Sleigh, 70; Smith. 395; Soul. 600; Sth Pine, 25; TNT. 145; Tooths, 288; Waltons, 58; Wormald, 240. Mining.— Aberfoyle, 510; Aust Dev. 55; Allstate. 40; Ashton, 82; Bougainville. 150; CMI, 180; Cent Norse, 620; CRA, 365; Emperor, 10: ERA, 170; Gem Ex, 3; Gold Mines, 550; Hill 50, 39: Magnet. 10; Mid East, 8; Mim.m 328; MKU, 37; Nth BH, 216; Pancont, 130; Placer, 1100; Peko. 534; Poseidon, 300; Queen MIM, 22; Renison. 235; Robe River. 130; Southland,-25; Umal, 220; WMC, 347. Oils— Ampol, 205; AOD, 130; AOG. 115; Beach, 26; Bridge, 280; Hartogen, 180; Magellan, 220; Oilsearch. 12; Pancont, 18; Sthpac. 19; Santos, 520; Stifling, 3; Timor. 8; Vamgas. 700: Woodside, 72.
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Press, 28 August 1982, Page 18
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445Australian market Press, 28 August 1982, Page 18
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