Prices firm in Sydney

Press, 30 December 1982, Page 5

Prices firm in Sydney

NZPA Sydney Share prices on the Sydney Stock Exchange yesterday firmed in quiet trading with an absence of sellers lifting market leaders; brokers said. The all-ordinaries index was 5.6 points higher at 485.4, the all-resources adding 6.8 points to 377.4, and the allindustrials rose 4.2 points to 619.2. BHP added 12c to 636, MIM rose 12c to 360. WMC firmed 10c to 332, and CRA gained 10c to 365. CSR rose 11c to 288.

Among gold miners, GMK gained 34c to 894 and Poseidon added 10c to 550.

Oil and gas issues were generally firm, with Santos 10c up at 530. Coal. stocks strengthened, with Howard Smith 20c up at 340.

Partners in the South Pepper One well in Western Australia firmed with the announcement of a 1515 bar-rels-a-day stabilised oil flow bnd a 29,300 ■ cubic metres gas flow through a half-inch

choke in the seventh drill stem test.

The partners are Mesa Australia, Offshore Oil, and WMC, each 20 per cent; Pancontinental Petroleum and Golden West Hydrocarbons, each 10 per cent; Petro Energy and Pan Pacific Petroleum, each 6.67 per cent; and Weeks Australia and Sydney Oil Company, each 3.33 per cent. Banking stocks were firm. Retailers were mixed, with Myer 7c up at 120. ‘ Transport issues firmed, with TNT 4c better at 149, and Brambles firmer.

Building-industry issues firmed, with Lend Lease 18c up at 330 and Boral and Monier 5c stronger. ICI rose 8c to 150.

Brewers were steady and sugar stocks quiet. Burns Philp firmed 10c to 180 with an associate firm, Burns Forsyth and Company, revealed as a recent purchaser of Burns Philp stock, which has risen 25c in the last fortnight