Australian market in retreat

Press, 2 August 1983, Page 24

Australian market in retreat

Resource stocks retreated on a broad front on the Melbourne sharemarket yesterday after the sharp drop on Wall Street on Friday, and the fall in the price of gold. Prices of major mining issues were marked down heavily at the opening but stabilised in morning trading.

However, several key issues weakened in the final session and the market finished on a dull note.

Brokers said that many traders were cautious about taking a position and were prepared to wait to see Wall Street’s direction.

They said that trading was quiet, partly because of the closure of the Sydney sharemarket for the Bank holiday. The market indicator, the all-ordinaries index, fell 5.6 to 666.3 at the close while the metals index lost 16.2 to 638.2 and the oil and gas index dropped 15.0 to 606.7.

Industrials. — Amatil, 255; A.C.1., 147; Ad Steam, 330; Aust Fert, 120; AGC, 210; Ampol, 157; A.N.1., 260; A.N.Z., 455; A.P.M., 210; Ariadne, 28; Advertiser, 142; Bundaberg, 335;

B. 1035; Brambles, 275; Boral, 303; Bums P, 230; Carp, 237; C.1.G., 280; Comalco, 295; C’maine, 415; Coles, 297; C.S.R., 418; C.U.8., 278; Dunlop, 128; Elders, 411; Email, 135; EZI, 620; GP Trust, 172; G Gotch, 210; G.U.D., 182; J Hardie, 385; Hooker, 126; Hanimex, 53; Humes, 142; Herald, 265; 1.C.1., 200; Ind Equity, 355; Jennings, 170; D Jones, 245; KemCorp, 65; Lend Lease, 450; LifeSavers, 265; Mayne Nick, 272; McPhersons, 115; Monier, 172; P Morris, 330; Myer, 146; Nat Bank, 313; Nat Cons, 100; News, 810; NZSB, 82; Oakbridge, 142; Pion Cone, 164; Pion Sugar, 140; QBE, 285; Repco, 115; Rothmans, 710; Sleigh, 92T.N.T., 192; Tooth, 380; Westpac, 307; Waltons, 60; Woolworths, 220; Wormaid, 320. Mining. — Aberfoyle, 720; Aust Dev, 50; Allstate, 75; Ashton, 153; Bougainville, 297; C. 295; Cent Norse, 830; Carr Boyd, 138; CRA, 576; Emperor, 370; ERA, 165; Gem Ex, 500; GMK, 1080; Gold Copper, 33; Hill 50, 50; Magnet, 800; Mid-East, 70; Metals Ex 75; Mallina, 14; M.1.M., 448; Nth 8.H., 310; Nth Flind, 130; Pancont Min, 152; Peko-W, 790; Poseidon, 570; Queen Marg, 18; Renison, 495; Robe River, 205; Umal, 245; Woodreef, 500-’ W>C, 488. ’©ILS. — Ampol Ex, 260; A.0.D., 85; A.0.G., 128; Beach, 30: Bridge, 286; Claremont. 132;

Hartogen, 238; Magellan, 310; Oil Search, 14; Pancont Pet, 29; Sth Pac, 27; Santos, 740; Stirling, 400; Timor, 600; Vamgas, 355; Woodside, 122.