AUSTRALIA Bearish trend emerging

Press, 31 May 1985, Page 10

AUSTRALIA Bearish trend emerging

PA Sydney Australian sharemarkets closed easier, with investors uncertain after conflicting signals from abroad overnight. Australian stocks had been sluggish on the London market overnight, despite a SUSS rise in the New York gold price. The lack of offshore interest in the predominantly metal based Australian market made local investors wary. Indications were that the underlying strong bullish sentiment of the market had peaked, and a bearish trend was emerging, they said. Brokers said one of the highlights of the day was the listing of the Burswood Property Trust, the developer of Perth’s sAust2lo million casino and hotel complex. Burswood issued 100 million units to the public, and they opened at 50c before rising to 75c by the close of trading. More than 8.6 million shares traded. Brokers said trust operators took up 120 million units, and the entire issue would raise sAust2lo million to be used in the development of the casino project. The Auckland-based carpet manufacturer, Feltex New Zealand, Ltd, also on the boards for the first time yesterday, closed at sAustl.Bs on moderate volume.

Closing quotes Last Industrial Buy Sell sale ACI 250 251 250 AGC 245 247 245 AMI 240 245 — ANI 284 286 286 ANZ 455 456 456 APM 278 280 278 AWA 460 465 465 Adel Stm 846 850 850 Ad’tiser — 275 270 Allied Ml 260 280 — Amatil 450 455 450 Ampol 184 185 184 Ariadne 56 57 56 Arnotts 335 340 336 BHP 626 628 626 Bell G 730 740 736 Bond Corp 118 120 120 Boral 326 330 328 Borg-W 245 248 245 Brambles 370 — 373 Bundaberg — 185 180 Burns P 385 — 385 CIG 260 265 — CSR 274 275 275 C’maine 508 516 514 Coal All 468 475 470 Coles 370 371 372 Comalco 212 215 212 Costain 165 172 170 Dunlop 213 215 215 Elders 297 299 298 Elders opt87 55 — 55 Email 140 — 141 Fairfax J 714 720 720 GPT 230 232 232 GPT nts 220 223 222 GUD 197 — — G Gotch 345 — 345 Hanimex 93 100 95 Hardie J 318 320 320 Herald 460 470 465 Hooker 158 160 160 Humes 161 162 161 ICI 200 202 200 IEL Grwth 118 120 120 IEL Incme 92 — 95 Impala Ina Equit 86 684 88 690 684 Intr Tech 32 33 32

Jennings 175 177 176 Johns Pry 345 360 345 Jones Dav 620 — 620 Jonray 620 650 630 Kern 127 130 128 Kern pref 150 — — Leighton 157 158 157 L Lease 678 680 680 Life Save 325 — 325 MLC 2650 2800 2750 Martin Pr 60 61 60 Mayne Nic 310 311 310 Monier 180 185 — Morris P 630 640 630 Myer 190 192 190 NZ For 180 205 205 NZI Corp 115 118 118 NZI Corp opt — 72 — Nat Aust 440 445 440 Nat Cons 185 188 — News Corp 760 770 760 Nicholas — 185 — OPSM 230 240 240 Oakbridge 100 102 100 Olims 70 75 — Peters SI 168 170 170 Pioneer C 169 170 169 Pioneer S 114 116 115 QBE 570 590 580 Reckitt 350 351 350 Repco 120 121 120 Rothmans 415 420 415 Smith Hwd 475 476 475 Stockland 143 145 145 TNT 190 191 190 Taubmans 180 185 — Tooth 582 586 — Union C 240 250 245 Vapocure 600 610 600 Vestcorp 125 140 — Walton 37 39 37 Waugh Jos 131 134 131 Wfield Hl 910 940 — Westpac 422 427 423 White Ind 400 410 — Woolworth 290 293 291 Wormaid 358 MINING 360 360 Aberfoyle 1200 1220 1200 Allstate 29 31 29 Alpha 55 57 57 Ashton 101 102 101

Aust Devi - 21 - Bell Res 730 740 730 Bouganvle 215 217 217 CN Gold 820 850 850 CRA 630 634 630 Carr Boyd 145 150 145 CMI 255 260 — Cons Rtle 560 580 560 Cudgen 200 220 220 ERA 150 152 151 Emperor 390 395 395 GM Kalg 920 930 930 Hill 50 28 29 28 Kidston 400 415 410 MIM 296 298 296 Metals Ex 60 — 60 Mid E Min 30 35 30 North BH 234 236 236 Nth Flndr 175 185 — Pancont M 170 173 173 Paringa 115 120 — Paringa opt86 — 35 — Peko 433 435 435 Placer 2750 2900 2800 Poseidon 408 410 408 Qld Coal 164 165 164 RGC 524 530 526 Southland 25 26 25 Sthn Pac 24 25 — WMC 401 403 403 West Sand 133 135 135 Whim Crk 300 OILS 305 300 AOD 110 — 110 AOG 125 130 130 Ampol Exp 250 255 250 Beach 78 79 79 Bridge 230 235 230 Claremont 175 177 175 Crusader 250 255 255 Hartogen 335 338 335 L’reach 11 12 — Magellan 220 235 — Magnet 7 8 7 Offshore 13 14 13 Oil Serch 37 39 38 Pancont P 28 30 30 Santos 580 584 580 Vamgas 410 415 410 Weeks Aus 82 83 83 Weeks Pet 570 600 — Woodside 160 161 160