Australian market remains weak
• Australian share prices opened sharply lower but improved as trading progressed in a weak market. Brokers reported mild overseas interest. The all-ordinaries index fell 2.4 points to 485.1, the all-industrials lost 2.3 to 620.3, and the all-resources 2.5 to . 375.9. Among leaders, B.H.P. fell 6c to 652 c M.I.M. lost 5c to 345 c as did W.M.C. to 310 c. C.R.A. rose 10c to 375 c. Gold stocks fell, with Peko 10c down at 470 c and Poseidon 5c off at 420 c. Santos lost 10c to 550 c and Vamgas fell 30c to 750 c.
Banks were mixed, with Westpac down 4c at 250 c on a 0.5 per cent profit rise for the year to September 30. National Bank closed 2c up at 260 c.
A.N.Z. bank was easier at 350 c. Retailers were mixed with Myer losing 3c at 115 c but Woolworths rose 3c to 154 c and Coles added 2c to 227 c.
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Press, 27 November 1982, Page 18
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162Australian market remains weak Press, 27 November 1982, Page 18
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