Aust. turnover up 78.4 per cent

Press, 10 January 1987, Page 28

Aust. turnover up 78.4 per cent

NZPA-AAP Sydney Total turnover on Australian stock exchanges rose to sAust4o.os billion last year, 78 per cent above that in 1985, according to figures released by the Australian Associated Stock Exchanges. The AASE figures showed that turnover in the number of securities traded last year rose 54 per cent to 23.93 billion shares compared with 15.54 billion in 1985. AASE executive director, Mr Ron Coppel, said turnover by both value and volume reached record levels in 1986, with take-over activity a significant contributing factor. Other factors included a perception that proposed changes to taxation laws will favour equity investment and the growth in funds available to Australian and overseas institutions for investment locally, he said. Turnover rose across the

boards, although lower oil prices contributed to a 6.7 per cent fall in the value of oil shares traded. Turnover in industrial stocks, including preference shares, rose 50.8 per cent to 10.26 billion shares worth sAust2B.6s billion — 79.1 per cent above 1985. The value of mining equities rose 102.6 per cent to 9.96 billion as volume rose 74.3 per cent to 10.50 billion shares. In the oil sector, volumes rose 16.9 per cent to 3.17 billion shares while value fell 6.7 per cent to $1.44 billion. Total turnover in Commonwealth _ Government Loans rose 22.8 per cent to $41.96 billion as Semi-Gov-ernment Loan transactions increased 3.2 per cent to $3.37 billion. But turnover in company debentures and notes fell 63.9 per cent to $3O million from $B3 million in 1985.