Change of heart

Press, 16 August 1984, Page 23

Change of heart

Australian sharemarkets closed firmer as buyers rushed resource stocks in a change of sentiment.

The all-ordinaries index was 7.4 points higher at 735.1 points, the all-industri-als marker was up 4.6 to 1021.7 and the all-resources index was 9.1 stronger at 510.7.

National turnover was 33.8 million shares worth ?Aust46.2 million, with rises outnumbering falls by 180 to 128, and 283 issues steady.

Brokers said the market’s early weakness resulted from heavy off-market selling of BHP scrip and an easier tone on Wall Street.

The initial nervous trend gave way to firmness as buyers replaced sellers and traders chose to ignore an uncertain Wall Street and follow a steadier London market and a better international bullion price. Brokers noted that the market began to rise after the BHP special sales were completed. About 785,000 BHP shares changed hands for a value of around

?AustB.2 million as the market leader gained 15c to $10.75, its contributing shares 30c to 730 and CSR 4c to 332.

The banks were firmer amid the current round of prime rate cuts; 3c additions saw ANZ at 488, National at 343, and Westpac at 384. Among other industrials, developers and contractors, food and household goods, and retail posted the best gains, while merchants and agents recorded the biggest faD.

Lend Lease gained 16c to 546, Amatil 10c to 370 and Rothmans 6c to 970, while 10c falls took Philip Morris to 630, Bundaberg Sugar to 200, Bell Group to 455, and News Corp to 1060.

Industrials.— ACI, 192; AFL, 115; ANL 235; ANZ, 488; APM, 235; ASCPrp, 72; AWA, 44ft Adel Stem, 485; Amatil, 370; Ampol, 173; Ariadne, 52, and new 51; BHP, 1075, and ctg 73ft, Bell, 455; Bond Corp, 13ft Boral, 353; Brambles, 300; Bundaberg, 200; BurnsP, 335; CIG, 31ft CSR, 332; C’malne, 44ft Clyde, 153; Coles, 39ft, Comalco, 255; Dunlop, 180; EZI, 644; Elders,

40ft Email, 14ft Fairfax, 61ft GPT, 218, new 211, and nts 120; Hardie, 333; Herald, 370; Hooker, 173; Humes, 155; ICI, 212; Impala, 105; IndEquit, 636; Kauri, 85; LLease, 546; Life Save, 272; MLC, 2000; Mayne Nick, 28ft McPherson, 148; Monier, 178; PMorris, 63ft, Myer, 185; NatAust, 343; NatCons, 145; News Corp, 1060; Nicholas, 401; Oakbridge, 88; PetersSL 145; PioneerC, 152; Pioneers, lift QBE, 47ft, Reckitt, 285; Repco, 115; Rothmans, 97ft HSmith, 37ft Soul Pat, 92ft Stockland, 158; TNT, 185; Tooth, 55ft UnionC, 25ft Walton, 36; Westpac, 384; Wwths, 260.

Mining.— Aberfoyle, 84ft Allstate, 25; Ashton, 102; AustDevi, 31; Bouganvle, 172; CNGold, 50ft CRA, 56ft, Carrßoyd, 10ft CMI, 26ft, ERA, 163; GoldCopp, 28; Hlll5O, 37; MIM, 296; Mallina, 12; MetalsEx, sft, MidEMin, 35; NorthßH, 234; NthFlndr, 200; Pancont, 130; Peko, 476; Poseidon, 35ft QldCoal, 118; Queen Mar, 27; RGC, 30ft Southland, 2ft Tasminex, 102; WMC, 350; Woodsreef, 8.

Oils.— AOD, 82; AOG, 136; AmpolExp, 295; Beach, 65; Bridge, 28ft Hartogen, 225; Magnet, Ift OilSerch, 2ft Pancont, 29; Santos, 63ft, Stirling, 5; Woodside, 120.