Aust, prices fall widely

Press, 1 October 1983, Page 23

Aust, prices fall widely

NZPA Sydney Despite a late rally, share prices closed widely lower in heavy, trading, following further declines overnight on Wall Street and in world metal prices, particulary for gold and silver. The all-ordinaries index was down 3.9 points to 718.0. Over the week, however, the index gained 10 points. The sharpest losses yesterday were among mining stocks, which caused the all resources index to fall 5.3 points to 582.6. The all industrials index slipped 2.0 points to 886.4. A sharp fall in world gold prices precipitated heavy losses among gold miners In Sydney, GMK fell 80c to 1050 c, Poseidon 50c to 540 c, Central Norseman 30c to 770 c, Renison 10c to 445 c, Emperor 10c to 320 c and Pancontinental Mining 3c to 162 c.

Metana dropped 20c to 185 c and Charters Towers slumped 15c to 130 c. The big base metal miners, many of which are also major gold producers,

also fell heavily. Western Mining lost 10c to 435 c in Melbourne and 20c to 425 c in Sydney, CSR, at 395 c, fell 11c in Melbourne and 13c in Sydney. MIM dropped 6c to 398 c in Melbourne, and 8c to 396 c in Sydney. CRA recovered to close steady at 580 c in Melbourne and at 578 c in Sydney. BHP closed 5c higher at 1290 c in Sydney and 5c lower at 1285 c in Melbourne. Oil and gas stocks closed mixed, with greatest interest again focused on Weeks Australia, a junior partner in the promising Jabiru 1-a exploration well off the Northern Territory coast. After rising sharply on Thursday, Weeks Australia’s share price eased four cents, to 114 c in Melbourne and to 112 c ih Sydney. Industrials.—ACl, 170; ANI, 275; ANZ, 540; APM, 226; ASC Prp, 92; AWA, 390; AGC, 245; Adel Stm, 405; Advertiser, 170; Amatil, 260; Ampol, 192; Ariadne, 34; BHP, 1290; Boral, 320; Borg-W, 205; Brambles, 292; Bundaberg, 315; Burns P, 265; CIG, 275; CSR, 395; CUB, 298; Carp WR, 260; C’maine, 415; Clyde, 170; Coles, 348; Comalco, 310; Dunlop, 142; EZI, 610; Elders, 435; Email, 120; Fairfax, 380; Fibre, 310; GPT, 185; G Gotch, 220; Hanimex, 50; Hardie, 405; Herald, 305; Hooker, 136; Humes, 157; ICI, 200; Ind Equit, 395; Jennings, 170; D. Jones, 310; L Lease, 500; Mayne Nick, 293; McPherson, 122; Monier, 165; P. Morris, 410; Myer, 152; NZ Forest, 330; Nat Aust, 333; Nat Cons, ill; Oakbridge, 123; Pioneer C, 180; Pioneer S, 145; QBE, 330; Repco, 122; Rothmans, 820; Sleigh, 133; Smith, 390; Soul Pat, 790; TNT, 188; Taubmans, 145;-Tooth, 430; Union Car, 290; Walton, 51; Westpac, 340; W’wths, 248; Wormaid, 298. Mining.—Allstate, 80; Ashton, 170; Aust Devi, 57; Bougainville, 260; CN Gold, 770; CRA, 578; Carr Boyd, 130; CMI, 295; Cons Rtle, 490; ERA, 185; Emperor, 320; GM Kalg, 1050; Gem, 9; Gold Copp, 48; Hill 50, 50; MIM, 396; Metals Ex, 90; North BH, 345; Nth Flindr, 128; Pancont, 162; Feko, 726; Poseidon, 540; Queen Mar, 34; RGC, 445; Southland, 30; Sthn Pac, 24; Tasminex, 56; UCL, 232; WMC, 425; West Sand, 125; Woodsreef, 10.

Oils.—AOD, 103; AOG, 165; Ampol Ex, 390; Beach, 32; Bridge, 335; Hartogen, 300; Magellan, 315; Magnet, 9; Oil Search, 18; Pancont, 40; Santos, 810; Stirling, 7; Vamgas dd, 372; Wodfeide, 144.