AUSTRALIA Second record day

Press, 15 May 1985, Page 40

AUSTRALIA Second record day

NZPA-AAP Sydney Australian sharemarkets reached their second successive record high with industrial stocks supported ahead of last night’s economic statement by the Federal Government, brokers said. The all-ordinaries index rose five points to 897.7, with most stocks under selling pressure when the main market indicator passed the 900 point barrier just before the mid-session break. The gold index rose 26.9 points to 978.5. The all-indus-trials index rose 8 points to 1248 and the all-resources marker rose 2.7 points to 622.7. Brokers said' sharemarkets could rise strongly for the rest of the week if the Federal Government is perceived to be serious in its attempt to reduce the budget deficit. They said the all-ordinaries could improve another 20 points, but most stocks were cut back from their day’s high on profit-taking once the 900 point threshold was reached. The national turnover was 65.19 million shares, compared with 41.63 million on Monday. Rises outpaced falls by 14 to five, with turn-over valued at 188.24 M. Industrial stocks retained most of their gains when it became apparent at the midsession that the Australian dollar would remain firm against the United States currency, analysts said. MLC rose ?4 to $5O in light trading, while a major shareholder, Lend Lease, added 16c to 690 and lEL gained 10c to 670. Media stocks were in demand, with News Corporation 18c higher at 788 in moderate turnover and Queensland Press rising 20c to 1020 in slight volume. The Bell Group rose 22c to 736 in moderate turn-over while Adelaide Steamship rose 16c to 806. Resource stocks were cut back in the final session, with BHP adding 2c to 664 and Western Mining 3c to 441. CSR fell 4c to 290. Woodside Petroleum was actively traded with 1.09 M shares changing hands and the stock gaining 1c to 161. This is the first time the stock has traded above the 160 joint offer price set by BHP and Shell Australia last month. The banks tended higher, but off their day’s high in moderate turn-over. ANZ and Westpac each rose 3c to 493 and 413 respectively, while National Australia was unchanged at 410.

Analysts said the banks should remain in the active list for the next few months with their interim profit statements due out in the next week and broking firms rating them as good investments compared with overseas competitors.

Closing quotes Last Industrial Buy Sell sale ACI 223 224 223 AGC 250 255 255 AMI 240 245 — ANI 238 289 289 ANZ 490 493 493 APM 288 290 290 AWA 475 480 475 Adel Stm 804 810 806 Ad’tiser 255 — — Allied Ml 255 265 260 Amatil 447 450 448 Ampol 182 185 182 Ariadne 54 55 55 Arnotts 325 330 325 BHP 664 666 664 Bell G 734 740 736 Bond Corp 150 152 152 Boral 323 324 323 Borg-W 245 250 — Brambles 390 392 390 Bundaberg 185 192 185 Burns P 395 396 395 CIG 265 270 265 CSR 288 — 290 C’maine 530 534 532 Coal All 495 — 495 Coles 381 382 381 Comalco 240 245 240 Costain 175 180 — Dunlop 222 225 226 Elders 300 302 300 Elders opt 65 75 — Email 142 146 145 Fairfax J 720 — 760 GPT 226 228 228 GPT nts 220 222 220 GUD 190 195 — G Gotch 310 320 — Hanimex 94 95 94 Hardie J 321 322 322 Herald — 470 465 Hooker 165 167 165 Humes 165 166 165 ICI 206 208 206 Impala 65 70 65 Ind Equit 670 680 670 Intr Tech 30 33 32 Jennings 170 172 170 Johns Pry 330 345 330 Jones Dav 580 590 580 Jonray 650 660 650 Kern 125 130 130 Kern pf 145 — — Leighton 164 — 165 L Lease 674 690 690 Life Save 325 330 — MLC 5000 5500 5000 Martin Pr 58 60 58 Mayne Nic 315 320 320 McPherson 147 150 147 Monier 180 185 180 Morris P 620 640 — Myer 192 195 192 NZ For 220 230 — NZI Corp 113 115 113 NZI Corp opt 62 — 60 Nat Aust 410 411 410 Nat Cons 177 180 180 News Corp 786 788 788 Nicholas 192 195 195 OPSM 238 240 240 Oakbridge 101 102 • 101

Olims 75 80 — Peters SI 180 181 180 Pioneer C 175 176 175 Pioneer S 118 119 118 QBE 570 590 — Reckitt 338 352 340 Repco 125 126 125 Rothmans 415 420 ■— Smith Hwd 465 473 470 Stockland 149 150 150 Sunshine 215 218 215 TNT 196 — 195 Taubmans 172 175 175 Tooth 580 584 584 Union C 235 — — Vapocure 530 — — Vestcorp 135 138 135 Walton 39 40 39 Waugh Jos 130 133 133 Wfield Hl 980 990 —— Westpac 413 415 413 White Ind 390 395 390 Woolworth 311 312 311 Wormaid 357 358 358 MINING Aberfoyle 1160 1180 1180 Allstate 30 40 30 Alpha 58 60 59 Ashton 96 97 95 Aust Devi 19 22 — Bell Res 710 720 720 Bouganvle 236 240 238 CN Gold 890 900 900 CRA 662 664 660 Carr Boyd 155 160 158 CMI — 275 — Cons Rtle 560 580 — Cudgen 230 245 235 ERA 146 148 147 Emperor 410 415 410 CM Kalg 1010 1030 1020 Hill 50 35 36 35 Kidston 455 460 460 MIM 340 343 340 Metals Ex 65 67 65 Mid E Min 35 38 35 North BH 272 275 273 Nth Fiindr 180 190 180 Pancont 190 192 190 Paringa 125 127 125 Paringa opt 30 32 — Peko 456 459 458 Placer — 2800 2700 Poseidon 435 440 445 Qld Coal 162 164 162 RGC 550 554 550 Southland 25 26 25 Sthn Pac 24 25 25 WMC 441 442 441 West Sand 143 — 145 Whim Crk 325 330 325 OILS AOD 106 107 — AOG 132 135 135 Ampol Exp 250 255 250 Beach 78 80 82 Bridge 232 240 235 Claremont 170 — 170 Crusader 265 270 270 Hartogen — 320 325 L’reach 0 10 12 — Magellan — 260 260 Magnet 7 8 7 Offshore 14 15 14 Oil Serch 40 41 40 Pancont P 25 26 — Santos 616 620 616 Vamgas 455 460 455 Weeks Aus 79 80 79 Weeks Pet 570 — — Woodside 161 165 161