FUTURES Quiet, nervous day
Only 328 contracts were traded on the Futures Exchange yesterday in nervous speculating. Mr Peter Dumbleton, of Mair Astley Futures, said noone was prepared to take a big stand on either side of the market yesterday. A slight easing in the New Zealand dollar on the Wellington foreign-exchange market was reflected in a slight firming of the U.S. dollar futures — at least in the spot month.
The July U.S. dollar futures contract closed 44 points up on the Friday close, but August was 45 points lower.
Mr Dumbleton said the value of the U.S. dollar overseas had been affected by the re-election yesterday of Mr Nakasone’s LiberalDemocrat Party as the Government in Japan.
The interest-rate contracts were easier, and the PCP contract was very quiet. July PCP contracts (the only month traded) closed 10 points down on the Friday close.
The July Government stock contract closed 16 points down on the Friday close. August finished 18 points lower, and September was 25 points lower.
The fall in the GSK indices came with rises in the physical secondary market. Speculators on the interestrate contracts were awaiting three indicators, Mr Dumbleton said: the stock tender on Friday; the June-quarter consumer price index; and the budget next month. Only six contracts were traded in wheat, all for March, at $220. The trading ended on the day’s high.
In the wool futures, two large transactions accounted for many of the 100 trades. Details of yesterday’s trading: SUS CONTRACTS Mth Open H/L Last Vol Jul 1.8500 .8591/8500 .8591 15 Aug 1.8665 .8700/8665 .8700 38 Sep 1.8840 .8840/8840 .8840 2 Contracts traded: 55 Open positions at July 4: Jul 461, Aug 13, Sep 5, Dec 1, total 480 (up 14). COMMERCIAL BILLS Mtn Open H/L Last Vol Jul 8395 395/385 385 38 Contracts traded: 38 Open positions at July 4: Jul 606, Aug 299, Sep 501, Dec 401, Mar 313, Jun 68, Sep 45, Dec 45, Mar 47, Jun 10, total 2335 (down 2). GOVERNMENT STOCK Mth Open H/L Last Vol Jul 8370 370/346 352 34 Aug 8367 367/347 351 86 Sep 8370 370/350 350 9 Contracts traded: 129 Open positions at July 4: Jul 557, Aug 460, Sep 180, Dec 9, total 1206 (up 3).
Contracts traded: 110 Open positions at July 4: Aug 102, Oct 263, Dec 232, Jan 268, Mar 406, May 373, Aug 280, Oct 193, Dec 54, Jan 20, total 2191 (down 2).
WHEAT Mth Open H/L Last Vol Mar 2200 2200/2200 2200 6 Contracts traded: 6 Open positions at July 4: Feb 30, Mar 35, May 30, total 95 (up 1). , ■
WOOL FUTURES Mth Open H/L Last Vol Aug 522 522/522 522 1 Oct 521 527/521 527 41 Jan 527 527/526 526 3 Mar 528 529/528 529 5 May 535 535/534 534 42 Aug 544 544/544 544 2 Oct 545 545/545 545 1 Dec 546 546/546 546 2 Jan 547 547/546 546 3
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19860708.2.130.27
Bibliographic details
Press, 8 July 1986, Page 30
Word Count
487FUTURES Quiet, nervous day Press, 8 July 1986, Page 30
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.