AUSTRALIA Disappointment in Bell

Press, 6 December 1985, Page 21

AUSTRALIA Disappointment in Bell

NZPA Sydney Australian stocks closed easier in quiet trading with resource and gold stocks leading the market down, brokers said.

The market was disappointed when Bell chief, Robert Holmes a Court failed to make his long-term intentions clear at Bell Resources annual meeting in Perth on Wednesday evening. At the close of trading the all-ordinaries index fell 1.5 points to 986.0. Turnover was 48.7 million shares, worth sAust 63.3 M, with falls outnumbering rises 253 to 151.

Industrial issues performed better than expected under current high interest rates, brokers said.

The main winners on industrials were Brambles, up 20c to 180 c, lEL 14c to 848 c and FAI 10c to 490 c but Adsteam lost 6c to 944 c and Hooker 5c to 195 c.

Among situation stocks, Boral, which has launched a take-over for Johns Perry, was the only mover, losing 1c to 313. New listings failed to excite the market except for Miniskips, which put on 65c to 115 c.

ANZ was the only major bank to move, gaining 4c to 476 c. Both Westpac and National Australia were steady at 455 c and 460 c respectively. BHP fell sharply in early trading to a low of 832 c but gained later to close four under at 840 c.

Among other market leaders, CSR gained 1c to 357 c and Bell Resources 10c to 490. CRA shed 4c to 526 c, North Broken Hill 3c to 217 c, and Peko 4c to 510 c. MIM was steady at 242 c. Western Mining and Bougainville Copper both gained 1c to 312 c and 181 respectively. Gold stocks bore the brunt of selling pressure with losses across the board. Niugini Mining, which has made strong

Kin the last few days on its partnership in a major gold discovery, dropped 27c to 210 c. Elsewhere, GMK lost 10c to 970 c, Central Norseman 10c to 670 c and Whim Creek 4c to 271 c. In the oil and gas sector, Santos gained 12c to 562 while Bridge Oil lost 10c to 190 c.

Closing quotes Last Industrial Buy Sell sale ACI 275 276 275 AGC 245 248 — AMI 250 — ANI 265 266 266 ANZ 476 478 476 APM 285 286 286 AWA 560 570 560 Adel Stm 944 950 944 Ad’tiser — 305 — Allied Ml 300 305 300 Alpha 44 46 44 Amatil 560 — 570 Ampol 220 222 220 Ariadne 210 —- 215 Ariadne dd 208 212 210 Arnotts 310 320 320 A Found 185 192 190 BHP 840 842 840 Bell G 1170 — 1180 Bond Corp 232 235 235 Boral . 314 316 313 Borg-W 220 230 230 Brambles 415 425 425 Brierley 640 646 640 Bundaberg 195 200 195 Burns P 520 526 524 CIG 280 290 2800 CSR 356 357 357 C’maine 800 — — Chase Crp 405 — 405 Coal All — 570 —- Coles 412 418 415 Comalco 160 165 165 Costain 200 202 — Dunlop 226 228 228 Elders 294 295 295 Elders opt 125 — 125 Email 156 160 160 Equitcorp FAI dd .145 490 149 500 147 490 Fairfax J 690 700 690 Feltex NZ — 235 — Fletcher 250 270 250 Fortuna 92 100 — GPT 210 212 210 GPT nts 200 — —

GUD — 250 — G Gotch 320 340 —— Hanimex 88 89 88 Hardie J 315 320 318 Herald 546 —. 550 Hooker — 200 195 Humes 170 175 175 ICI 210 212 210 IEL Grwth —- 94 -TIEL Incme — 93 — Impala Ind Equit 115 846 118 848 115 848 Intr Tech 23 24 —- Jennings Johns Pry 188 192 190 520 530 — Jones Dav 990 1000 Jonray 770 800 770 Kern 210 213 210 Leighton 101 102 103 L Lease 604 608 604 MLC 2700 2800 — Martin Pr dd 110 115 — Mayne Nic 315 317 315 McPherson 185 — 185 Monier 185 190 185 Morris P 1100 1120 — Myer NZ For 340 — 340 — 180 180 NZI Corp 130 133 —. NZI opt 100 120 105 Nat Aust 470 472 470 Nats Cons 215 220 220 News Corp 850 860 850 Nicholas 225 228 228 OPSM 272 275 275 Oakbridge 124 125 124 Olims 70 75 •— Peters SI 181 183 182 Pioneer C 220 222 220 Pioneer S 140 142 140 QBE 610 620 — Reckitt 350 365 — Repco 135 136 135 Rod Jones 188 192 — Rothmans 606 610 606 Smith Hwd 430 460 450 Stockland 163 165 164 Sunshine 230 235 230 TNT 238 240 240 Taubmans 190 195 — Tooth 540 550 550 Union C — 310 — Vapocure 275 280 275 Vestcdrp 93 95 94 Walton32 33 32 Wattie 270 — — Waugh Jos Wfield Hl 135 140 — 1340 : 1360 1340 Westpac 452 456 455 White Ind 550 560 —

Woolworth 332 333 332 Wormald 360 365 — MINING Aberfoyle —- 870 — Allstate — 25 — Ashton 115 118 115 Aust Devi 17 19 — Bell Res dd 490 — 490 Bouganvle 181 182 181 CN Gold 670 680 670 CRA 526 528 526 Carr Boyd 160 165 165 CMI 290 — — Cons Rtle 660 680 — Cudgen — 300 — ERA 158 162 160 Emperor 298 305 —' GM Kalg 960 970 970 Hill 50 27 28 27 Kidston 540 550 540 MIM 242 245 242 Metals Ex 36 40 36 Mid E Min — 28 — Niugini 210 211 210 North BH 217 220 217 Nth Flndr — 300 — Pancont M 185 — 185 Paringa 110 115 — Paringa opt — 19 — Peko 510 514 510 Placer 2520 — — Poseidon 345 350 —- Qld Coal 148 149 149 RGC . 524 526 526 Southland dd 290 295 290 Sthn Pac 17 18 —. WMC 310 312 312 West Sand 143 148 145 Whim Crk 270 275 271 OILS AOG 135 140 — Ampol Exp 265 270 265 Beach 80 83 80 Bridge 185 190 190 Claremont 130 135 137 Crusader 190 — 190 Hartogen 200 210 205 L’reach 0 — 24 —- Magellan — 205 200 Magnet 10 11 12 Offshore 13 14 14 Oil Serch 33 35 33 Pancont P 24 25 25 Peko Oil 88 90 90 Santos 560 562 562 Vamgas — 300 300 Weeks Pet — 700 —- Woodside 122 130 122