Strength in miners

Press, 17 February 1983, Page 24

Strength in miners

NZPA Sydney Share prices closed mixed on the Sydney Stock Exchange yesterday, with a firmer bias in moderatelyactive trading, after a day in which major indices again varied widely in nervous preelection trading. After opening lower, the all-ordinaries index rose on the strength of the major mining shares, and at 3 p.m. was up 1.2 points at 515.2. The all-resources index, after opening lower, also rose steadily and at 3 p.m. was up 3.1 at 403.9. The all-industri-als index drifted lower throughout the day and at 3 p.m. was down 1.1 at 653.3. Brokers attributed the strength of the mining sector (the metals index rose 11.1 points, or 2.2 per cent to

504.0) to the influence of Wall Street and the bullish trend in the international gold price. Heavy-weight miners to rise were MIM, 18c to 420; Western Mining 10c to 400; CRA 5c to 385; NorthßH, 3c to 258: and Bougainville Copper. 2c to 232. BHP closed 6c lower at 650. and CSR was steady at 292. Oil and gas stocks closed mixed with a weaker bias, as Santos fell 8c to 460. and Woodside Petroleum and Claremont both dropped 2c to 74 and 58 respectively. In the industrials, ' the highlight was the off-market sale of a million shares in Mr Kerry Packer's Consolidated Press Holdings at 320 a share —25 c above CPH’s closing market price of 295.