Australian prices slightly easier

Press, 7 September 1984, Page 9

Australian prices slightly easier

NZPA-AAP Sydney Australian sharemarkets closed easier In moderate trading yesterday as lower metal stocks offset early rises in the oil and gas sector.

At 3.15 p.m. (Sydney time), the all-ordinaries index was down 0.9 points at 721.0, the all-industrials marker was 0.8 points lower at 1023.5, and the all-resources index was down one point at 485.8. Brokers said the depressed metal-price outlook prompted heavy selling in metal and gold stocks which overrode early gains in the oil and gas sector after a major flow from the Bodalla South Two well in the Eromanga Basin on Wednesday. Among the miners, Aberfoyle dropped 8c to 902, Bougainville 3c to 170, CRA 14c to 490, Renison 20c to 265, Whim Creek 10c to 250 and Peko 5c to 490.

• But Kidston Gold Mines, which made its debut yesterday, finished 32c above its issue price at 192. The market leader, BHP, rose 5c to 1025 while its new shares advanced 10c to $lO as investors responded to news of wireline tests at the Jabiru Four appraisal well in the Timor Sea.

Partners in the Bodalla South venture shared mixed fortunes, with Western Mining discounted 4c to 306, MIM 5c

to 275 and Bligh 2c to 90c, while Beach rose 1c to 82c and Oil Company of Australia 3c to 88c.

Elsewhere in the oil and gas sector, AOD rose 3c to 97c on market sentiment that Santos may increase its bid by 10c to 100, Bridge advanced 5c to 270, Santos 16c to 690, its contributing shares 20c to 470 and its new shares 30c to 680.

Vamgas finished 10c up at 385, but Crusader shed 10c to 240.

Banking stocks were generally steady although Westpac dropped 5c to 375 while on the insurance boards, MLC rose 100 to 2200 with New Zealand Insurance steady at 100 despite an earnings rise announcement on Wednesday. Selected media stocks also were discounted,, with. News Corp taking the brunt with a 20c fall to 1000 and Advertiser down 5c at 210. Results announced on Wednesday by Clyde pushed its stock 5c higher to 165, Edward ■Lumley’s improved performance saw it steady at 300 while a poorer profit result left GMK steady at 730.

Industrials.—ACl 1.85, AFL 1.20, ANI 2.30, ANZ 4.76, APM 2.29, AWA 4.45, Adel Stm 5.00, Ad’tiser 2.10, Amatil 3.55, Ampol 1.70, Ariadne .57, BHP 10.25, Bond Corp 1.35, Boral 3.72, Brambles 3.20, Bundaberg 2.18, Burns P 3.60, CIG 3.10,

CSR 3.12, C’maine 4.40, Clyde 1.65, Coles 3.95, Comalco 2.25, Dunlop 1.71, EZ Ind 6.10, Elders 3.92, Email 1.35, Fairfax J 6.60, Hanimex .90, Hardie J 338, Herald 3.70, Hooker 1.67, Humes 1.53, ICI 2.04, Impala 1.05, Ind Equit 6.54, Jennings 1.42, Kauri .85, Kern .84, L Lease 5.90, Life Save 2.85, MLC 22.00, Mayne Nic 2.82, McPherson 1.42, Monier 1.68, Myer 1.89, NZ For 1.90, Nat Aust 3.30, Nat Cons 1.48, News Corp 10.00, Nicholas 4.25, Oakbridge .86, Peters SI 1.48, Pioneer C 1.53, Reckitt 2.75, Repco 1.20, Smith Hwd 3.90, Soul Pat 9.40, Stockland 1.59, TNT 1.96, Taubmans 1.80, Tooth 5.50, Walton .34, Westpac 3.75, Woolworth 2.50, Wormald 2.86. Mining.—Aberfoyle 9.02, Ashton .97, Bouganvle 1.70, CRA 4.90, Carr Boyd .93, Cons Rtle 4.75, Cudgen 1.70, ERA 1.58, Gem dd .80, Hill 50 .29, MIM 2.75, Metals Ex .60, Muswllbrk .75, North BH 2.20, Pancont'M 1.20, Paringa 1.20, Peko 4.90, Poseidon 2.90, Qld Coal 1.19, Queen Mar .25, RGC 2.65, Southland .29, Sthn Pac .17, WMC 3.04, West Sand 1.12, Woodsreef .12.

Oils.—AOD .97, AOG 1.37, Ampol Exp 2.82, Beach .82, Bridge 2.70, Hartogen 2.38, L’reach O .12, Magellan 2.25, Magnet .10, Oil Serch .24, Pancont P .31, Santos 6.90, Stirling .07, Vamgas 3.85, Woodside 1.23.