AUSTRALIA Market weaker at close

Press, 1 June 1985, Page 24

AUSTRALIA Market weaker at close

NZPA-AAP Sydney Concern over weakness in commodity prices and a general lack of overseas support for local stocks pushed Australian sharemarkets down at the close, brokers said. They said the market was looking very weak and could fall drastically if one or two big investors decided to withdraw.

At the close of trading, the all ordinaries index dropped 1.3 points to 873.3, the all resources shed 2.8 points to 585.5 and the all industrials index added 0.9 points to 1243.0.

The gold index, which broke through the 1000 barrier for the first time on Monday last week, dropped 15.6 points yesterday to close at 898.1.

The national turn-over was a moderate 61.2 million shares valued at $71.2 million, with falls outpacing rises by 211 to 176.

Brokers said the bearish trend of the past week was more than a technical correction and the market could test the 850 level before consolidating. Resource stocks led the market decline, with BHP losing 2c to 624 and CSR 3c to 272. CRA was steady at 630 after being down 4c at the mid-session.

MIM fell 2c to 294, Bougainville eased 2c to 215 and Western Mining 5c to 398. North Broken Hill rallied late in trading to finish 9c ahead at

Among gold stocks, Placer dropped 50c to 2750, Emperor 20c to 375, GMK 10c to 920, Mungana 10c to 205 and Central Norseman 14c to 836. Kidston gained 25c to 435. The banking sector propped up a feeble industrials board, with ANZ finning 4c to 460,

Closing quotes Last Industrial Buy Sell sale ACI 242 245 242 AGC 245 247 245 AMI 240 245 — ANI 280 284 282 ANZ 460 464 460 APM 270 274 274 AWA 430 450 455 Adel Stm 850 — 850 Ad’tiser 265 275 270 Allied Ml 262 265 265 Amatil 450 453 450 Ampoi 184 185 184 Ariadne 56 57 56 Arnotts ■ 335 338 335 BMP 622 624 624 Bell G — 730 730 Bond Corp 118 120 120 Bc.rai 327 329 328 Borg-W 245 248 245 Brambles 370 372 — Bundaberg 180 — 180 Burns P 385 — 387 CIG 260 262 265 CSR 271 272 272 C’maine 526 528 528 Coal All 468 470 •170 Coles 370 3’5 370 Conialco 210 214 212 Costain 165 170 170 Dunlop 216 220 222 Elders 290 294 293 Elders opt 52 — — • Email 140 142 ho Fairfax J 716 730 720 Feltex NZ 180 190 185 GPT 230 231 231 . GPT nts 220 223 220/ GUD 195 —. . — G Gotch —- 345 Hanimex 95 98 95 Hardie J 315 320 320

Herald 458 460 460 Hooker 158 159 159 Humes 159 160 160 ICI 198 200 200 IEL Grwth 118 120 120 IEL Incme 92 — — Impala 86 88 85 Ind Equit 684 690 690 Intr Tech 31 33 33 Jennings 175 178 177 Johns Pry 345 360 — Jones Dav 620 — 630 Jonray 630 — 630 Kern 128 130 128 Kern pref 150 — — Leighton 145 153 153 L Lease 668 672 668 Life Save 325 — — MLC 2650 2800 — Martin Pr 59 61 60 Mayne Nic 310 312 312 McPherson 144 145 145 Monier 176 178 178 Morris P 630 640 630 Myer 193 194 194 NZ For 180 200 — NZI Corp 115 116 116 NZI Corp opt — 72 . — Nat Aust 444 445 444 Nat Cons 186 — 188 News Corp 766 770 770 Nicholas 170 185 — OPSM 238 240 240 Oakbridge 101 102 101 Glims 70 75 70 Peters SI 167 168 >68 Pioneer C 168 172 170 Pioneer S 115 116 115 QBE 580 600 —... Reckitt 350 — 351 Repco 120 121 120 Rothmans 415 420 420 Smith Hwd 475 476 476 Stockland 145 146 145 TNT 190 192 191 Taubmans 180 190 180 Tooth 584 586 584 Union C 240 ■ 245 Vapocure 590 600 681* :Vestcorp 130 140 Walton '32 36 35 Wugh Jos V/field Hl 131 910 134 940 131 Westpac 428 429 428 White Ind 395 '410 — Woolworth 288 290 288 Wormaid 355 360 360

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