Australian market closes well down

Press, 19 May 1984, Page 23

Australian market closes well down

NZPA-Reuter Sydney Negative influences from overseas and local nervousness saw the Australian sharemarket close on a weak note yesterday, the all-ordinaries index seven points above its low for the year of 718 in March. At 3 p.m., the all-industri-als index was at 986.6 points and the all-resources at 520.1 points. Brokers attributed the market’s decline to weakness to Wall Street, worries about United States interest rates and concern about the United States bank, Continental Illinois, which has obtained stand-by credit from other banks. The market leader, BHP, shed 20c to 1060, CSR fell 8c to 338, CRA 12c to 530, and Western Mining 10c to 365. Other metal issues to post falls included MIM, 10c to 365 and EZ, 16c to 506. Emperor reflected a ?US2 fall in the New York bullion price, falling 15c to 370, but GMK added 60c to 970 and Central Norseman 20c to

590, underlining the market’s belief that the gold price is due for a rise. The banking sector lost ground, the ANZ and the National dropping 8c to 574 and 360 respectively, and Westpac 7c to 390. Retailers also suffered: as Coles lost 4c to 378 and Woolworths 7c to 233, the media sector was affected, News Corp shedding 10c to 1025 and the Herald and Weekly Times 5c to 345. Santos was the only oil and gas issue to defy the trend, with a 5c rise to 568. Bridge lost 3c to 275, Claremont 6c to 178, while Woodside and Ashton both fell 3c to 117 and 105. Rothmans was 20c lighter at 880 and Philip Morris 10c weaker at 580.

Industrials— ACI, 180; AFL, 130; ANI, 260; ANZ, 574; APM, 194, AWA 445, Adel Stm, 440; Ad’tiser, 190; Amatil, 335; Ampol, 175, Ariadne, 52 and new 51; BHP. 1060; BHP, ctb 760; Bond Corp, 122; Boral, 358; Brambles, 290; BurnsP, 340; CSR, 338; CUB, 425; C’maine, 458; Clyde, 160; Coal All, 270; Coles, 378; Comalco, 285; Dunlop, 167; EZI, 506; Elders, 390; Email, 170; GPT, 215 and nts 117; GGotch, 310; Hanimex, 82; Hardie, 312; Herald, 345; Hooker, 153; Humes, 143; ICI, 205; Impala, 130; IndEquit, 586; Jennings, 148; Johns Pry, 300; DJones, 440; Kern, 76; LLease,

490; Life Save, 290; Mayne Nic, 228; McPherson, 138; PMorris, 580; Myer, 183; NZForest, dd 230; NatAust, 360; Nat Cons, 140; News Corp, 1025; Nicholas, 284; Oakbridge, 90; PioneerC, 152; Pioneers, 123; Reckitt, 268; Repco, 117; Rothmans, 880; Sleigh, 136; HSmith, 385; SoulPat, 900; Stockland, 158; TNT, 184; Taubmans, 160; Tooth, 530; Walton, 47; Westpac, 390; Wwths, 233; Wormaid, 320. Mining.— Ashton, 105; AustDevi, 36; Bouganvle, 235; CNGold, 590; CRA, 530; Carrßoyd, 105; Consßtle, 550; Cudgen, 185; ERA, 137, Emperor, 370; GMKalg, 970; Gem, 05; GoldCopp, 27; Hill 50, 32; MIM, 312; Mallina, 14; MetalsEx, 52; NorthßH, 250; NtbFlndr, 220; Pancont, 135; Peko, 480; Poseidon, 430; QidCoal, 113; Queen Mar, 20; Southland, 37; SthnPac, 13; WMC, 365; West Sand, 120; Woodsreef, 9. Oils — AOD, 68; AOG, 103; Beach, 48; Bridge, 275; Hartogen, 270; Magellan, 185; Pancont, 27; Santos, 568; Vamgas, 320; Woodside, 117.