AUSTRALIA Gold under pressure

Press, 3 July 1985, Page 36

AUSTRALIA Gold under pressure

PA Sydney Australian sharemarkets closed steady, with firm buying support for most stocks in spite of a $6 cut in international gold bullion prices overnight, brokers said. They said the market had reached its low and, with most institutions fairly liquid, was set for a recovery during the next few weeks. By the close of trading, the all ordinaries index had added 0.3 points to 860.5, the all industrials marker had gained 2.2 points to 1238.9 and the all resources indicator had fallen 1.1 points to 566.9. The gold index slipped 12.3 points to close at 798.8. The national turn-over was 59.5 million shares valued at $6O million, with falls outnumbering rises 207 to 183. Brokers said the national tax summit in Canberra and the forthcoming Federal Budget had made local investors hesitant although there was little selling pressure evident yesterday. Among resource stocks, BHP eased 6c to 626, CSR added 1c to 286, North Broken Hill gained 2c to 225, CRA fell 4c to 594 and MIM rose 2c to 275. Aberfoyle eased 10c to 1070, Peko was steady at 405 and Bougainville was unchanged at 190. Gold stocks came under some selling pressure during afternoon trading with GMK losing 30c to 810, Central Norseman 20c to 710, Pooseidon 20c to 315 and Kidston 5c to 410. Among oil and gas stocks, Hartogen fell 5c to 245, Woodside eased 5c to 145 and Santos gained 10c to 556. On the industrials board, Acrow Australia, for which McConnell Dowell is offering 225 a share, added 25c to 250 in heavy trading. Direct Acceptance Corporation topped the turn-over lists, with Smith and Lane buying more than 11.6 million shares at 76c, up 4c.

Closing quotes Last Industrial Buy Sell sale ACI 256 260 256 AGC 238 240 238 AMI 240 245 240 ANI 235 — 235 ANZ 441 442 441 APM 268 273 270 AWA 460 470 470 Adel Stm 810 820 810 Ad’tiser 230 250 — Allied Ml 262 270 269 Amatil 485 490 485 Ampol 185 186 185 Ariadne 53 54 53 Arnotts 343 345 345 A Found 144 145 144 BHP 626 628 626 Bell G 696 700 700 Bond Corp 122 124 123 Boral 320 322 320 Borg-W 245 — — Brambles 375 378 375 Bundaberg 155 — 157 Burns P 390 400 390 CIG 265 270 —- CSR 285 287 286 C’maine 646 648 646 Coal All 460 470 460 Coles 381 383 383 Comalco 192 193 193 Costain 160 170 — Dunlop 225 226 225 Elders 294 296 295 Elders opt 65 68 66

Email 138 140 138 Fairfax J 690 — 700 Feltex NZ 184 198 —. Fletcher 231 234 233 GPT 219 220 220 GPT nts — 220 — GUD 220 — G Gotch 290 300 — Hanimex 88 90 — Hardie J 342 345 344 Herald 430 — — Hooker 173 175 175 Humes 160 — 160 ICI 184 186 184 IEL Grwth 110 115 —- IEL Incme 92 — — Impala Ind Equit 80 646 90 650 648 Intr Tech 28 30 — Jennings 180 182 180 Johns Pry 345 355 — Jones Dav 660 670 660 Jonray — 660 — Kern 122 125 — Kern pref 150 —- — Leighton 135 137 136 L Lease 686 700 690 Life Save 340 345 340 MLC — 2700 — Martin Pr 58 60 — Mayne Nic 302 — 302 McPherson 149 150 150 Monier 171 173 — Morris P — 620 — Myer 226 227 226 NZ For 175 185 —— NZI Corp 132 135 130 NZI Corp opt86 68 73 70 Nat Aust 414 415 415 Nat Cons 190 — 190 News Corp 660 670 670 Nicholas 170 175 175 OPSM 245 248 248 Oakbridge 92 — 92 Olims 70 73 70 Peters SI 165 168 165 Pioneer C 177 178 177 Pioneer S — 112 —- QBE 590 — — Reckitt 350 355 350 Repco 119 120 119 Rothmans 450 460 450 Smith Hwd 480 485 480 Stockland 148 151 151 TNT 205 207 205 Taubmans 177 179 — Tooth 580 584 580 Union C 250 — 250 Vapocure 500 — 506 Vestcorp 105 110 108 Walton 34 35 34

Waugh Jos 135 140 - Wfield Hl 900 990 — Westpac 410 415 410 White Ind 360 370 355 Woolworth 276 278 278 Wormaid 371 MINING 372 371 Aberfoyle 1070 1080 1070 Allstate —. 25 — Alpha Ashton 50 53 53 112 115 115 Aust Devi 14 17 16 Bell Res 650 660 —— Bouganvle 190 192 190 CN Gold 710 722 710 CRA 590 596 594 Carr Boyd 130 135 135 CMI 265 280 — Cons Rtle 580 590 — Cudgen 205 210 210 ERA 148 150 148 Emperor 375 — 375 GM Kalg 810 840 810 Hill 50 24 25 25 Kidston 408 412 410 MIM 275 277 275 Metals Ex 47 50 47 Mid E Min 25 27 27 North BH 225 230 225 Nth Flndr —- 155 150 Pancont M 177 179 178 Paringa 110 120 110 Peko 405 410 405 Placer 2400 2800 — Poseidon 315 320 315 Qld Coal 165 166 165 RGC 485 495 490 Southlnd dd 125 130 125 Sthn Pac 16 19 — WMC 370 372 372 West Sand 126 •— 124 Whim Crk 240 OILS 245 240 AOD 105 106 105 AOG 115 120 120 Ampol Exp 238 242 238 Beach 82 84 84 Bridge 240 242 240 Claremont 173 175 175 Crusader 248 — Hartogen 240 247 245 L’reach 0 10 12 — Magellan 220 — — Magnet 14 15 15 Offshore 18 19 18 Oil Serch 32 35 31 Pancont P 25 27 25 Santos 556 560 556 Vamgas 390 395 390 Weeks Aust 80 82 80 Weeks Pet 570 — — Woodside 145 148 145