AUSTRALIA Demand returns

Press, 3 September 1986, Page 33

AUSTRALIA Demand returns

NZPA-AP Sydney Solid company profit results and the return of substantial institutional demand pushed Australian sharemarkets sharply higher. Most heavyweight issues closed at their day’s highs in brisk trading. There was also continued selective buying interest in the banking and gold sectors, brokers said.

Some dealers predicted the bullish tone of the market will continue in the short term with leading equities attracting international fund managers due to the steadier currency and the Government’s recent easing of foreign investment rules. Speculation that the Reserve Bank will allow trading banks to include subordinated loans as part of their capital for gearing purposes saw the ANZ rise 16c to 520, the National Australia 14c to 554 and Westpac 10c to 480. Elsewhere, lEL rose 30c to 760, Boral 23c to 445, Brambles 20c to 620, and Amatil 14c to 754, while 50c rises took Mercantile Mutual to 900 and News Corp to 2480. Companies involved in continuing BMP take-over speculation were mainly easier. BHP lost 4c to 756, Bell Resources 5c to 485, Adsteam 10c to 1210 and Elders IXL 3c to 484. The Bell Group, however, firmed 10c to 620. ,

Brokers also reported solid trading among heavyweight miners in the wake of firming precious metal prices. CRA rose 10c to: 616, Cudgen 20c to 370 and Western Mining 6c to 348. Ten cent rises took gold miners Metana to 360, Poseidon to 300 and GMK to 1120, while North Flinders added 60c to 820.

Closing quotes Last Industrial Buy Sell sale ACI 355 356 355 AGC 300 — 300

ANI 260 262 260 ANZ 520 524 524 AWA 628 630 628 AdelStm 1210 1220 1210 Ad'tiser 290 300 •—■ Alpha 38 40 —— opt 19 20 19 Amatil 754 760 754 Amcor 355 360 355 Ampol 215 225 215 Argo 260 — —- Ariadne 348 350 348 Arnotts 450 — 450 AFound 210 217 215 AustOvrs 95 100 95 opt 62 65 62 BHP 754 756 756 BankQld — 330 — BellG 1040 1050 1050 pref — 2500 — BondCorp 328 330 330 Boral 442 445 445 Brambles 610 620 620 Brierley 558 566 560 Bundaberg 258 260 260 BurnsP 670 676 670 CIG 365 375 365 CSR 282 283 282 Cadbury 260 265 260 Carricks 31 32 32 ChaseCrp 576 580 580 Claradeen 148 150 — Clyde 195 200 200 CoalAll 460 470 460 ColesM 485 486 486 Comalco 230 235 230 EDunlop 420 425 420 Eastcourt 68 73 72 Elders 484 487 484 opt 460 — —. Email 238 240 240 Equitcorp —. 148 146 Euro-Nat 365 365 FAI 728 730 730 Fairfax! 560 566 560 FeltexNZ 270 — — Fletcher — 345 — Fortuna 150 — — GPT 262 270 268 Goodman 315 325 320 GGotch 390 400 — Hanimex 63 64 63 Hardie! 360 362 362 Herald 604 610 600 Hitek 160 — 160 Hooker 233 — 235 Humes 300 302 301 UProp 2100 2300 — ICI 250 253 250 lELGrwth 137 — 138 lELIncme 137 138 IndEquit 764 770 760 !asco — 190 —— !ennings 180 190 190 !onesDav 1170 1200 1200 !onesRbt 470 — 470 Kern 209 210 210 Keywest 700 720 700 Larchhill 225 230 225 opt 90 — 100 Leighton 61 62 61 LLease 880 890 890 Linter 495 — 500 MartinPr 130 135 132 MayneN 280 -— 280 McPherson 210 — 212 Memtec 235 240 235 Monier 260 270 260 NZFor — 215 — NZICorp 150 153 153 delxo 135 — —

NatAust 552 554 554 NatCons 265 275 NewsCorp 2470 2480 2480 Nicholas 380 385 380 OPSM 337 340 340 Oakbridge 82 84 85 PacDunlp 345 348 345 Parbury 125 —— 130 PetersSl 202 205 202 PioneerC 275 — 275 PioneerS —— 142 141 QBE 600 610 — Reckitt 630 640 630 Rheem 315 ■ —— Rothmans 870 —— —— Rothwells dd 345 355 350 SmithHwd 455 458 455 Sunshine 310 312 310 TNT 311 313 313 UnionC 540 560 —— UnityCrp 435 440 438 Vapocure —— 220 Vestcorp 60 63 60 Viking 80 90 80 Walton 34 35 34 Wattie — 310 111 WfieldHl 1900 2200 1900 Westpac 480 482 480 Woolworth 328 332 330 Wormaid 420 425 422 Aberfoyl 830 —— 830 Ashton 167 168 167 AustDevl 55 60 55 BellRes 480 485 485 Bouganvle 274 276 274 CNGold 1050 1060 1050 CRA 616 620 620 CarrBoyd 96 98 98 ConsRes 8 9 9 ConsRtle 450 — 455 ERA 152 153 152 Emperor 345 — 345 GMKalg 1130 — 1120 Hill50 43 45 43 Kidston 698 700 698 Kitchener74 75 75 MIM 180 181 180 MetalsEx 108 108 NorthBH 223 224 223 Otter 45 48 — PancontM 240 242 240 Paringa 180 — 180 Peko 584 600 584 PlacrDev 3260 3300 3260 Poseidon 298 300 300 QldCoal 165 166 165 RGC 730 740 730 SthnPac 17 20 — Technomin 48 50 50 WMC 345 348 345 WestSand 210 215 215 WhimCrk 305 310 305 AOG 147 150 150 AmpolExp 215 — 215 Beach 65 —— — Bridge 78 80 80 Claremont 80 82 80 Crusader 158 162 160 Dominion 67 68 68 Hartogen 200 205 200 L’reachO 15 18 — Magellan 155 165 165 Magnet 7 8 — Offshore 6 7 7 OilSerch 61 62 61 PancontP 10 11 10 PekoOil 80 82 80 Santos 382 385 385 Vamgas 250 —. 250 WeeksPet 900 —— — Woodside 85 89 89