Australian market continues easier
Heavy and confused trading in Pacific Copper after the announcement of a takeover offer by Bond Corp dominated interest on Australian stockmarkets, as share prices closed mixed with an easier bias. The Australian All-Ordin-aries Index was down 3.5 points at 589.1, because of sharp falls among leading resource stocks. The AllResources Index was off 6.6 points at 464.2, and the AllIndustrials Index was virtually unchanged at 744.1, off 0.4.
Trading was active, with turnovers totalling ?Austl7.2 million in Sydney, and $16.1 million in Melbourne. Rises and falls were nearly evenly balanced on both major exchanges. Declines just outpaced advances in Sydney 116 to 102, with 190 traded issues unchanged, and in Melbourne 102 to 92, with 153 traded issues unchanged.
The major highlight was action in Pacific Copper, as Bond Corp announced a take-over for all outstanding shares, at 105 c a share. Bond then twice increased its offer by 5c as Pacific Copper’s market price spiralled upwards. By the close Bond’s offer for Pacific Copper, in which it already holds a 20 per cent interest, stood at 115 c.
Industrials. —Amatil, 275; ACI, 140; AGC, 230; AdSteam, 255; Ampol, 170; ANI, 258; ANZ, 416; APM, 200; Ariadne, 23; Advertiser, 145; Bundaberg, 295; BHP, 800; Brambles, 270; Boral, 290; BurnsP, 205; BorgW, 195; WRCarp, 180; CIG, 260; Clyde, 160; Comalco, 265; C’maine, 405; Coal Allied, 365; Coles, 288; CSR, 325; CUB, 262; Dunlop, 113; Elders, 330; Email, 110; EZI, 570; Fairfax, 225; FibreCon, 365; GPTrust, 174; Gerrard, 210; GUD, 185;' JHardie, 390; Hooker, 132; Hanimex, 52; Humes, 135; Herald, 23b; ICI, 187; Ind Equity, 295; Joinings, 155; DJones, 225;
Kern Corp, 62; Lend Lease, 395; Life Savers, 295; Mayne Nick, 290; McPhersons, 110; Monier, 146; Myer, 148; Nat Cons, 90; News, 400; NZSB, 81; Oakbridge, 132; Olims, 51; PionConc, 160; Pion Sugar, 127; Repco, 107; Sleigh, 92; HSmith, 345; Taubmans, 135; TNT, 176; Tooth, 330; UnionCarb, 225; Westpac, 284; Waltons, 78; Woolworths, 206; Wormaid, 295. Mining.—Aberfoyle, 730; Allstate, 45; Ashton, 170; Bougainville, 260; Cent Norse, 800; Carr Boyd, 155; CRA, 486; Emperor, 245; ERA, 146; GMK, 960; GoldCopper, 34; Hill Gold, 53; Magnet, 6; Mid-East, 60; Metals Ex, 70; Matlina, 10; MIM, 435; NthßH, 270; NthFlind, 56; Placer Dev, 2000; Peko-W, 660; Paringa, 85; Poseidon, 490; QueenMarg, 18; Renison, 430; Robe River, 160; Sthland, 30; Tasminex, 38; Umal, 180; Woodsreef, 6; WMC, 462; Westralian, 102.
Oils.—AmpolEx, 197; AOD, 91; AOG, 135; Beach, 25; Bridge, 305; Hartogen, 190; Magellan, 270; Oil Search, 15; PancontPet, 24; SthPac, 19; Santos, 540; Vamgas, 780; Woodside, 96.
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Press, 6 May 1983, Page 10
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426Australian market continues easier Press, 6 May 1983, Page 10
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