AUSTRALIA Markets off lows

Press, 3 February 1987, Page 21

AUSTRALIA Markets off lows

NZPA-AAP Sydney Australian share markets closed weaker but- off their lows, continuing the correction begun last week. A sharply lower gold price, recent interest rate rises and a weaker New Zealand market added to already negative sentiment to push prices lower, brokers said. However, the markets recovered some lost ground from mid-morn-ing after investors believed stocks had become oversold. One broker said he thought the markets were now “due for a bounce.”

National turnover was a relatively light 113.7 million shares worth sAustl4o.2M, with falls outnumbering rises two to one. Turnover was boosted by a special sale of 30M Kia Pacific Gold options at 6c each.

Gold and heavyweight miners were among the hardest hit as the gold price, which fell SUS7.SO in New York on Friday, continued to slide in Asian trading while the Australian dollar showed signs of firming. Among the heavyweights, WMC lost 14 to 580 on heavy turnover. CRA shed 20 to 690 and Aberfoyle, trading ex its 5c dividend, dropped 190 to 1000. In gold stocks, Central Norseman lost 40 to 1630, Kidston 50 to 690, Placer Pacific 18 to 222 and Emperor 10 to 610.

Resources sector leader BHP finished 4c up at 916 after slipping to 908 early. Turnover was I.IM shares, including four special sales totalling 700,000 by County Securities.

Bell Resources shed 2 to 458 and reached 450, CSR lost 9 to 365 and Peko Wallsend 10 to 580.

< Media sector leader News Corp recovered from a low of 1640 to finish 20c up at 1680. Fairfax and Advertiser Newspapers lost 10 each to 1300 and 650. Closing

quotes Last Industrial Buy Sell sale ACI 382 390 382 AGC 355 — 360 ANI 300 310 310 ANZ 548 550 550 AWA 704 710 704 Adel Stm 1310 1320 1310 Ad’tiser 636 650 650 Alpha 35 37 37 opt 20 —— — Amatil 890 900 890 Amcor 420 430 420 Ampol 275 280 275 Argo — 340 . — Ariadne 345 —— 345 Arnotts 520 540 520 A Found — 278 278 Aust Ovrs 55 58 58 opt 20 25 25 BHP 914 — 916 Bank Qld — — 280 Barwon 55 68 68 Bell G 950 960 950 pref — 3000 — Bond Corp 260 263 260

Boral 440 441 442 Brambles —- 754 754 Brierley 338 340 340 Bundaberg 235 240 235 Bums P 896 900 896 C.R.P. Tr 56 —— — CIG - 375 390 — CSR 362 365 365 Cadbury 250 260 255 Carricks 355 360 360 Chase Crp — 465 460 Claradeen 130 140 —— Clyde 185 188 185 Coal All — 520 510 Coles M 590 — 590 Comalco 242 245 240 Deak Morg 145 — 145 E Dunlop 400 ■ — — Eastcourt 70 73 70 Elders 460 470 465 Email 275 280 275 Equitcorp 133 135 135 Euro-Nat d — 390 — FAI 920 930 920 Fairfax J 1300 1305 1300 Feltex NZ — 340 — Fletcher — 450 425 Fortuna 235 — 235 GPT 265 268 265 Goodman 425 — 422 H.D.F.I. ’ 148 150 150 Hanimex 130 150 150 Hardie J 435 445 440 Herald 1500 1505 1500 Hitek — 95 —— Hooker 315 320 315 Humes 285 290 290 I I Prop 1950 1980 1980 ICI 320 325 325 IEL Grwth —— 110 — IEL Incme 101 110 103 Ind Equit 502 506 506 Jasco 192 — 193 Jennings 180 185 185 Jones Dav 1450 1460 1450 Jones Rbt 180 200 200 Jonray 400 —— 400 Kern 245 250 250 Lrchhill 240 245 240 opt 120 130 Leighton 95 97 95 L Lease 960 980 980 Linter 670 700 700 Mayne N 400 — 400 McPherson 260 275 —— Memtec 510 520 510 Monier 220 230 230 NZ For 330 — 330 NZI Corp 175 180 175 Nat Aust 546 550 550 Nat Cons — 335 —- News Corp 1670 1680 1680 OPSM 355 360 355 Oakbridge 55 58 55 Pac Dunlp 412 415 415 Parbury 200 — 200 Peters SI 230 240 230 Pioneer C 295 305 295 Pioneer S 152 155 152 QBE 900 920 920 Renouf — 235 240 Rheem 460 470 — Rothmans 1220 1250 1250 Rothwells 335 345 345 Smith Hwd 460 480 480 Sunshine — 300 295 TAG Pac 77 78 77 TNT 375 —- 375 Union C — 640 — Unity Crp 295 300 300 Vapocure 247 250 250 Vestcorp 90 95 90 Viking 85 90 85 Walton 31 33 33 Wattie 490 — — Wfield Hl 3300 3350 — Westmex 240 245 245 Westpac 464 470 465 Woolworth 365 370 365 Wormald 410 425 — Aberfoyle 1000 1050 1000 Ashton 272 275 272

Aust Devi 360 365 360 Bell Res 456 — 458 Bouganvle 313 315 313 CN Gold 1610 —- 1630 CRA 690 696 690 Carr Boyd —— 150 150 Cons Res 7 8 8 Cons Rtle 710 730 710 Coronet 205 — 205 Dominion 110 115 110 ERA 175 180 175 Emperor 604 610 610 GM Kalg 1750 1850 —— Hill 50 92 98 92 Kidston 690 700 690 Kitchener 95 105 — MIM 215 220 218 Metals Ex 96 98 96 North BH 240 245 245 Otter 90 95 95 Pancont M 315 320 315 Paringa 275 290 275 Peko — 580 580 Placr Dev 3850 4000 3850 Placr Pac 225 228 222 Poseidon 640 652 650 Qld Coal 158 160 158 RGC 1020 1040 1020 Sthn Pac 22 25 22 Technomin 35 40 38 WMC 576 580 580 West Sand 265 270 270 Whim Crk 610 — 610 AOG — 250 250 Ampol Exp 355 360 360 Beach — 60 60 Bridge 92 101 92 Claremont 81 84 82 Crusader — 180 — Hartogen 310 315 315 Magellan 190 205 200 Magnet 9 10 — Oil Serch 95 97 95 Pancont P 17 18 17 Peko Oil 105 108 105 Petroz 8 9 9 Santos 415 420 418 Vamgas 280 290 280 Weeks Pet 900 — Woodside 166 168 168