Aust. markets turn bullish

Press, 11 September 1986, Page 23

Aust. markets turn bullish

NZPA-AAP Sydney Australian sharemarkets closed mostly on their day’s highs in heavy trading, after an uncertain opening gave way to strong bullish sentiment Selective buying interest highlighted the resources sector with strong support for BHP following Monday’s report of a record oil flow from its Challis Field No 3 Well, the feature of the session. Brokers described the market as strong and reported solid institutional demand for resource stocks. BHP recovered from recent losses to close 22c higher on 786. Turnover was more than 1 million shares. North Broken Hill was also actively traded to close 5c higher at 238 on a turnover of more than 600,000 shares, including a special sale of

250,000 shares at 255 each through Dominguez Barry Samuel. Elsewhere, Bell Resources added 10 to 470 and PekoWallsend was 8c higher at 620. Continued strong demand for heavyweight miners and leading gold stocks from overseas bargain hunters, taking advantage of the weak Australian dollar, pushed the metal and minerals index up 13.0 points to 601.0. CRA closed 20c higher at 680, Australian Consolidated rose 15 to 335 and Western Mining added 13 to 388. Among the gold stocks. Gold Miners of Kalgoorlie gained 30c to 1290 while 10c rises took Central Norseman to 1170, Renison to 800 and Metana to 385.

Industrials were generally firmer, but volumes were

relatively thin. Banks were among the improvers, with 6c gains taking the ANZ to 540 and the National Australia to 572. Westpac eased 2c to 492. Pacific Dunlop and lEL added 14c each to 330 and 750, while 10c rises took Ariadne to 352 and The Bell Group to 1020. News Corp

A. Barnett advice

The directors of Dunedinbased retailer, Arthur Barnett, Ltd, have advised shareholders not to sell. The chairman, Mr Denis Wood, would not elaborate on the notice to the Stock Exchange, other than to say an announcement would be made to shareholders next week.

eased 10c to 2540. Closing quotes Last Industrial Buy Sell sale ACI 350 365 362 AGC 340 — 340 ANI 262 265 262 ANZ 538 540 540 AWA 630 — 630 AdelStm 1200 1220 1220 Adtiser 300 Alpha — 39 — opt 17 15 Ama til 754 756 754 Amcor 348 355 350 Ampol 230 — 230 Argo 290 300 —

Ariadne 352 353 352 Arnotts 485 490 490 AFound — 210 210 AustOvrs 85 87 opt 55 61 60 BHP 784 790 786 BankQld 300 330 —— BellG 1020 1050 1020 pref 2400 2500 — BondCorp 296 302 302 Boral 428 430 430 Brambles 610 620 616 Brierley 540 550 550 Bundaberg 260 265 260 BurnsP 670 680 670 CIG 365 — 365 CSR 282 285 282 Cadbury 250 255 255 Carricks 30 31 31 ChaseCrp 520 540 530 Claradeen — 148 — Clyde 185 188 190 CoalAll 460 — 460 ColesM 457 460 458 Comalco 235 238 235 EDunlop 420 425 420 Eastcourt 70 75 72 Elders 455 — 455 opt — 450 — Email 242 245 245 Equiticorp 130 133 130 EuroNat 345 350 350 FAI 690 — 700 Fairfax! 560 — 560 FeltexNZ —. — 290 Fletcher 340 — 340 Fortuna 170 180 —— GPT 280 282 280 Goodman 318 325 320 GGotch 385 390 390 Hanimex 61 65 61 GardieJ 350 — 350 Herald 612 620 620 Hitek — 162 162 Hooker 228 229 228 Humes —- 315 315 UProp — 2200 2100 ICI 250 255 252 lELGrwth 142 — 145 lELIncme 140 145 — IndEquit 748 750 750 Jasco 170 185 170 Jennings 180 190 185 JonesDav 1180 1190 1180 JonesRbt 440 465 460 Kern — 185 185 Keywest 710 716 710 Larchill 220 225 —— opt 100 110 — Leighton 62 64 64 LLease 860 866 860 Linter 500 520 520 MartinPr 125 132 — MayneN —— 290 290 Mcpherson 210 212 210 Memtec 248 250 250 Monier 230 —— 225 NZFor 190 200 190 NZICorp 150 152 150 delxo 140 — — NatAust 572 — 572 NatCons 273 280 275 NewsCorp 2540 255u 2540 Nicholas 381 — 381 OPSM 315 330 315 Oakbridge 75 — 75 PacDunip 328 334 330 Parbury 130 — 130 PetersSl 200 202 200 PioneerC 256 264 265 Pioneers 125 135 125 QBE 620 — — Reckitt 630 634 630 Rheem 330 335 335 Rothmans 900 930 900 Rothwells dd 370 378 370 SmithHwd 462 465 463 Sunshine 325 330 325 TNT 310 — 312 UnionC 500 — — UnityCrop 500 520 520 Vapocure 200 — 200 Vestcorp 60 63 60

Viking 75 77 75 Walton 34 35 34 Wattie 290 300 300 WfieldHl 2000 2400 2400 Westpac 493 495 492 Woolworth 315 316 315 Wormaid 420 460 460 Aberfoyle 880 900 880 Ashton 173 174 173 AustDevl — 60 — BellRes 465 — 470 Bouganvle 303 305 303 CNGold 1170 1180 1170 CRA 680 682 680 CarrBoyd 107 112 112 ConsRes 8 9 8 ConsRtle — 450 450 ERA 150 152 150 Emperor 355 — 355 GMKalg 1300 —- 1300 H11150 48 49 48 Kidston 756 770 760 Kitchener 80 85 82 MIM 200 202 200 MetalsEx 115 118 115 NorthBH 227 230 228 Otter 48 50 — PancontM 270 — 270 Paringa 185 190 190 Peko 590 620 620 PlacrDev 3450 3500 3450 Poseidon 340 345 340 QldCoai 162 163 162 RGC 798 810 800 SthnPac 18 21 — Technomin — 46 —— WMC 388 389 388 WestSand — 210 — WhimCrk 340 345 340 AOG 150 155 150 AmpolExp 253 255 255 Beach — 67 67 Bridge 89 90 90 Claremont 96 98 97 Crusader — 180 180 Dominion —>* 65 64 Hartogen 225 230 230 LreachO 15 — — Magellan 160 165 165 Magnet 7 8 — Offshore 6 7 7 OilSerch 63 64 64 PancontP 12 13 12 PekoOil 95 96 95 Santos 415 420 415 Vamgas 265 270 260 WeeksPet 900 — 900 Woodside 93 95 92