AUSTRALIA Gold leads decline

Press, 7 August 1985, Page 36

AUSTRALIA Gold leads decline

PA Sydney Australian sharemarkets closed easier as profit-taking emerged in the resource sector and off-shore institutions lost interest in Australian industrial stocks, brokers said. They said heavy selling in London and New York overnight set the tone for the day’s trading, with gold stocks falling quickly as off-shore interest subsided. At the close of trading, the all ordinaries index had eased 3.8 points to 937.0 and the all industrials marker fell 5.5 points to 1362.3. The all resources indicator slipped 2.5 points to 607.7 and the gold index shed 11.9 points to 1064.6. A bomb scare at the Melbourne Exchange disrupted trading for the first half-hour of the afternoon session. Trading in Melbourne resumed about 2.40 p.m. Gold stocks led the market decline, with brokers saying off-shore investors were returning to South African gold miners after recent heavy falls had left the stocks undervalued. Australian and Canadian gold stocks were becoming expensive by comparison after firming swiftly on news of South African disruption. Central Norseman fell 30c to 950, GMK 20c to 1130, Metana 12c to 288 and Placer 30c to 2670. Whim Creek added 15c to 335, while Kidston fell 6c to 524, Sons of Gwalia 12c to 288 and Southern Resources 10c to 230. BHP fell 6c to 674, CSR was steady at 330, CRA lost 2c to 586 and MIM eased 2c to 268.

Closing quotes Last Industrial Buy Sell sale ACI 272 274 273 AGC 280 — 280 AMI 245 — — ANI 272 275 272 ANZ 514 520 516 A PM 290 292 292 AWA 504 510 504 AdelStm 880 886 886 Adtiser — 265 265 AIliedMl 280 282 280 Amatil 510 514 514 Ampol 208 210 208 Ariadne 57 58 57 Arnotts 370 375 375 AFound 166 170 — BHP 674 676 674 BellG 790 800 790 BondCorp 153 155 154 Boral 352 — 352 BorgW 265 270 265 Brambles 398 400 398 Bundaberg 195 200 200 BurnsP 435 440 435 CIG 287 290 290 CSR 328 330 330 Cmaine 754 756 754 CoalAll 514 520 — Coles 385 387 385 Comalco — 202 200 Costain 175 — — Dunlop 254 255 255 Elders 317 319 317 Elders opt 65 70 — Email — 150 150 FairfaxJ 790 810 800 FeltexNZ 195 — — Fletcher 260 — 265 GPT 215 216 215 GPT nts 210 212 — GUD 240 — — GGotch 306 — — Hanimex 88 90 90 HardieJ 318 320 320 Herald 480 490 480 Hooker 192 205 190 Humes 172 175 175 ICI 205 208 207 lELGrwth 105 116 105 lELIncme — 80 78 Impala IndEquit 95 676 100 680 100 680

IntrTech 28 30 28 Jennings 187 192 — JohnsPry 420 — 420 JonesDav 760 770 760 Jonray 600 — 600 Kern 142 147 142 Kern pref — 175 — Leighton 142 143 143 LLease 698 700 700 LifeSave 350 — — MLC 2700 2750 2700 MartinPr 70 72 72 MayneNick 315 — 315 McPherson 167 175 170 Monier 178 180 180 MorrisP 710 720 710 Myer 320 322 320 NZFor 200 — 200 NZICorp 128 130 130 NZICorp opt — 100 100 NatAust 445 448 445 NatCons 221 222 221 NewsCorp — 640 640 Nicholas — 200 200 OPSM 275 277 277 Oakbridge 114 115 114 Olims •70 73 70 PetersSl 180 183 183 PioneerC 198 199 198 PioneerS 133 134 133 QBE 620 640 — Reckitt — 385 — Repco 130 131 131 Rothmans 490 492 490 Smith Hwd 516 — 512 Stockland 166 168 167 TNT 222 225 225 Taubmans 183 185 183 Tooth 560 590 590 UnionC 265 — 270 Vapocure 500 550 — Vestcorp 123 — 123 Walton 42 43 43 WaughJos — 145 — WfieldHl 970 — — Westpac 481 483 481 Whitelnd 415 420 — Woolworth 334 335 335 Wormaid 398 MINING 402 400 Aberfoyle 1100 1120 1120 Allstate 22 23 23 Alpha 49 50 50 Ashton 118 120 118 AustDevl 17 20 17 BellRes 680 690 690 Bouganvle 1966 198 198 CNGold 950 956 950 CRA 584 586 586 CarrBoyd 190 192 190 CMI 275 280 — ConsRtle 600 — 600 Cudgen 265 — — ERA 165 168 166 Emperor GMKalg 430 435 430 1100 1130 1130 HilI50 29 30 30 Kidston 524 526 524 MIM 268 270 268 MetalsEx 47 51 51 MidEMin 35 38 — NorthBH 230 232 232 NthFIndr 185 — — PancontM 197 200 200 Paringa 115 — 112 Paringa opt86 22 35 — Peko 465 470 465 Placer 2620 2700 2670 Poseidon 435 438 435 QldCoal 179 180 179 RGC 540 550 540 Southland dd 150 160 150 SthnPac 17 18 — WMC 420 422 420 WestSand 134 138 134 WhimCrk 330 OILS 335 335 AOD 105 106 — AOG 118 125 120 AmpolExp 270 275 270 Beach 98 100 99 Bridge 250 255 254 Claremont 173 178 175 Crusader 255 260 255 Hartogen 220 225 225 LreachO — 21 — Magellan 225 — 230 Magnet 13 14 13 Offshore 17 18 17 OilSearch 31 33 32 PancontP 30 31 30 Santos 584 588 586 Vamgas 415 416 416 WeeksAust 81 85 80 WeeksPet 600 650 — Woodside 130 132 130