FUTURES 'Torrid' Barclays

Press, 3 February 1987, Page 22

FUTURES 'Torrid' Barclays

* The Barclays share inJJex contract yesterday ■continued the same trend of late last week — a wide trading range and active turnover.

- The trading range for March was 175 points, or $3500, compared with Friday’s range of 170 points.

The March contract, the only month traded, was 40 points down on Friday’s close, but it had come back off its low of 3070 to close at 3115. , One future broker described the trading in the Index contract as “torrid.” « The contract had opened on a rally, but quickly turned into a rout. Trading was then ex-

tremely volatile as it followed what was occurring on the sharemarket, he said.

The two interest rate contracts closed on, or near, their lows, as shortterm interest rates showed signs of continuing to firm. The Government stock contract (GSK) was traded in a tight four-point range for March, and only a sixpoint band for June.

Trading was light in the GSK, but the bank accepted bills (BAB) business was moderately active, also in a tight range.

The broker said that not too much could be read into the United States dollar contract with only six trades.

The firmer interest rates continued to underpin the kiwi dollar, he said.

The February contract closed 110 points down at 8520 on Friday’s finish, and March was 58 points behind. The wheat contract was again traded, but wool was extremely quiet and static at 595 for May. Details of yesterday’s trading were:—

JUS CONTRACTS Mth Open H/L Last Vol Feb 1.8520 8520/8520 8520 2 Mar 1.8880 8900/8725 8725 4 Contracts traded: 6. Open positions at January 30: Feb 105, Mar 147, Jun 1. Total 253 (up 4). COMMERCIAL BILLS Mth Open H/L Last Vol Contracts traded: nil. GOVERNMENT STOCK Mth Open H/L Last Vol Mar 8279 279/275 278 99 Jun 8310 316/310 316 40 Contracts traded: 130. Open positions at January 30: Mar 2254, Jun 20. Total 2274 (up 156). WOOL Mth Open H/L Last Vol May 595 595/595 595 2 Contracts traded: 2. Open positions at January 30: Mar 232, May 508, Aug 197, Oct 187, Dec 137, Jan 204, Mar 184, May 104. Total 1753 (down 20). WHEAT Mth Open H/L Last Vol Feb 213 213/212 212 6 Contracts traded: 6. Open positions at January 30: Feb 8, Mar 24, May 18. Total 50 (down 9). 90-DAY BANK BILLS Mth Open H/L Last Vol Feb 7655 655/640 645 36 Mar 7770 770/740 740 64 Contracts traded: 100. Open positions at January 30: Feb 303, Mar 268, Jun 72, Sep 16, Dec 41, Mar 41, Jun 40, Sep 40, Dec 40. Total 861 (up 50). BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Mar 3195 245/070 115 717 Contracts traded: 717.

Open positions at January 30: Mar 735, Jun 33. Total 768 (up 183).