Bargain-hunting boosts Australian markets

Press, 4 February 1987, Page 41

Bargain-hunting boosts Australian markets

NZPA-AAP Sydney Australian sharemarkets closed sharply higher in relatively thin trade as investors returned to snap up bargains after five days of declines. One broker said selling volumes had been light during the market’s fall last week and on Monday. ‘When sentiment turned and people started to buy again there was not a lot of stock around," he said. Gains were recorded in most sectors with blue-chip industrials attracting the most support. National turnover was 102.0 million shares worth sAustlso.6 million with rises outnumbering falls by a narrow margin. Brokers said scrip shortages aided the solid rises in many blue-chips. Brambles rose 16c to 770, Boral 19 to 460, Elders IXL 20 to 485 on turnover of 2.6 million shares, Goodman Fielder 15 to 440 and lEL 14 to 520. Pacific Dunlop put on 17c to 432 on turnover of 3.8 million shares. About 2.8 million shares were sold in seven special

sales at 420, with broker Macintosh a major player, while Bain and Co was reported to have been a buyer in London overnight. Speculation that Robert Holmes a Court’s companies would report solid profits this week pushed Bell Group to a high of 970 before it closed 10c up at 960. Bell Resources gained 17 to 475 while J. N. Taylor lost 20 to 800. In media stocks, Fairfax put on 15c to 1315, News Corp finished steady at 1680 from a high of 1700 and Advertiser lost 10 to 640. The ANZ bank rose 20c to 570, National Australia 4 to 554 and Westpac 10c to 475. Potter Partners actively bought BHP stock in the morning and the shares peaked at 936 before closing 6c up at 922 on turnover of 668,000 shares. CSR was also well-supported, rising 15 to 380 in thin trade. Gold stocks were mixed as bullion prices fell to SUS4OO an ounce overnight. Kidston gained 40c to 730, Placer Pacific 11 to 236 and Renison 10 to 1020 c, while GMK lost 40 to 1800 and Central Norseman 50 to 1580.

Closing quotes Buy Sell Sale 385 390 385 ACI 355 357 355 AGC 312 315 315 ANI 570 572 570 ANZ 704 710 704 AWA 1320 1340 1340 Adel Stm 630 640 640 Ad’tiser 035 040 035 Alpha 020 — — opt 900 —— 900 Amatil 435 440 440 Amcor 278 285 280 Ampol — — —- Argo 345 347 346 Ariadne 524 530 520 Arnotts 278 — 278 A Found 055 058 058 Aust Ovrs 020 025 — opt 922 924 922 BMP — — — Bank Qld 062 065 065 Barwon 952 960 960 Bell G — 3000 — pref 264 265 265 Bond Corp 458 460 460 Boral 770 780 770 Brambles 343 350 345 Brierley 235 240 235 Bundaberg 904 910 904 Burns P 056 — — C.R.P. Tr 375 390 380 CIG 378 380 380 CSR 250 260 — Cadbury • 350 350 Carricks d 449 455 450 Chase Crp 130 140 — Claradeen 185 188 185 Clyde 500 520 500 Coal All — 600 600 Coles M 245 250 250 Comalco 150 — — DeakMorg 400 —— E Dunlop 070 072 072 Eastcourt 482 485 485 Elders 275 278 278 Email 133 135 135 Equitcorp —— 390 — EuroNat 920 930 930 FAI 1315 1320 1315 Fairfax J — 340 — Feltex NZ 430 — Fletcher 230 — 235 Fortuna 267 269 268 GPT 430 440 440 Goodman 148 149 149 H.D.F.I. 140 145 Hanimex 425 440 430 HardieJ 1500 1505 1500 Herald — 095 — Hitek 320 325 320 Hooker 275 290 290 Humes 1950 1980 — UProp 320 325 320 ICI ■— 110 — lELGrwth 105 — — lELIncme 516 520 520 IndEquit 192 — —— Jasco —— 185 180 Jennings 1450 1460 1455 JonesDav 165 200 ' — JonesRbt 400 — 400 Jonray 250 260 250 Kern 240 245 240 Lrchhill 125 — 125 opt 095 097 095 Leighton 1010 — 1010 LLease 670 690 680 Linter 410 420 410 MayneN 260 270 260 McPhers. 516 — 520 Memtec 230 230 Monier 330 — 330 NZFor 175 180 175 NZICorp 554 556 554 NatAust 330 332 330 NatCons 1660 1680 1680 NewsCorp 360 — 360 OPSM 057 — 060 Oakbridge 432 435 432 PacDunlp 205 — — Parbury

Dividends P/E Year’s Cents Yld% ratio high low 17.00 4.42 15.1 410 375 11.00 3.10 11.1 360 330 16.50 5.24 10.2 330 300 31.00 5.44 7.4 600 540 20.00 2.84 17.6 720 700 34.00 2.54 10.2 1450 1300 11.00 1.72 30.2 710 475 1.00 2.86 9.7 040 035 —— — — 032 020 29.00 3.22 11.3 960 880 20.00 4.55 13.0 450 400 7.50 2.68 9.7 280 270 12.00 3.53 30.2 360 350 7.50 2.17 21.7 372 320 15.50 2.96 19.6 570 520 10.25 3.69 25.0 280 245 .50 .86 66.7 068 055 — — — 025 018 37.50 4.07 11.7 954 884 15.00 5.36 11.2 280 275 .50 .77 77.4 080 065 10.00 1.04 13.5, 1055 900 39.00 1.30 — — .— 10.00 3.77 5.8 305 255 16.50 3.59 13.7 472 430 21.50 2.79 13.9 826 754 8.00 2.32 9.2 540 325 6.00 2.55 28.6 260 235 20.00 2.21 14.6 966 896 4.60 8.21 12.2 055 055 17.00 4.47 14.9 504 380 18.00 4.74 16.2 415 345 7.50 2.94 19.7 260 220 •— — 37.5 380 350 10.20 2.27 9.7 570 450 2.00 1.45 34.5 140 140 11.25 6.08 11.6 195 160 30.00 6.00 6.7 540 500 21.00 3.50 15.1 620 590 2.00 .80 — 270 230 5.00 3.33 15.8 150 130 18.00 4.33 19.1 430 415 6.00 8.33 6.5 082 068 18.00 3.71 12.0 504 450 12.50 4.50 10.4 285 270 LOO .74 79.4 145 130 —— — — 470 400 5.00 .54 14.1 970 840 12.50 .95 29.4 1405 1050 11.20 3.29 8.9 340 340 18.40 4.33 11.7 475 425 8.00 3.40 16.2 240 230 21.60 8.06 12.4 280 265 10.00 2.27 24.9 490 415 8.75 5.87 7.4 160 145 2.00 1.38 19.3 200 130 22.00 5.12 14.0 470 415 18.75 1.25 60.1 1570 1350 — —— 84.1 125 095 13.00 4.06 11.4 328 288 13.00 4.48 14.1 305 285 — — — 2000 1950 16.00 5.00 11.4 350 315 5.72 5.72 17.5 105 100 11.44 0.90 9.2 103 100 10.00 192 16.5 600 500 5.00 2.59 12.5 193 185 10.00 5.56 9.9 210 180 34.00 2.34 10.1 1475 1370 .02 .01 — 255 200 — 27.6 430 380 5.00 2.00 8.9 270 245 10.00 4.17 3.5 250 215 — — — 130 115 — — — 105 079 36.00 3.56 16.1 1100 960 14.00 2.06 24.8 750 630 16.00 3.90 12.8 420 400 12.00 4.62 12.2 285 260 — — 12.4 560 430 11.00 4.78 10.4 235 220 12.00 3.64 15.4 330 315 6.80 3.89 10.3 195 175 29.00 5.23 6.4 610 546 15.00 4.55 7.7 365 325 10.00 .60 18.9 1935 1630 12.00 3.33 17.6 . 370 350 — — — 065 055 12.50 2.89 17.3 435 387 10.00 4.88 12.6 200 182

235 240 235 PetersSl 15.00 6.38 12.6 250 230 298 299 299 PioneerC 12.50 4.18 12.6 317 295 155 160 155 Pioneers 6.50 4.19 20.7 160 150 920 920 — QBE 21.50 2.34 12.7 920 890 220 225 225 Renouf —— — — 260 195 450 460 460 Rheem 17.50 3.80 14.7 460 410 1200 1250 — Rothmans 32.00 2.56 11.5 1280 1200 325 340 340 Rothwells 12.50 3.68 9.4 370 340 460 470 470 SmithHwd 25.00 5.32 14.2 520 470 290 300 295 Sunshine 12.00 4.07 7.5 310 280 77 78 78 TAGPac 10.00 2.82 4.6 110 75 383 385 385 TNT 14.00 3.64 11.6 425 375 560 640 — UnionC 20.00 3.17 13.1 650 510 280 295 290 UnityCrp 9.00 3.10 6.5 370 290 240 250 240 Vapocure 3.75 1.56 20.0 280 230 90 95 90 Vestcorp 3.00 3.33 9.8 105 85 85 90 90 Viking —- — 52.9 105 80 31 32 31 Walton — — — 34 31 490 —— 490 Wattle 12.30 2.51 24.0 530 490 3200 3350 3350 WlieldHl 15.00 .45 84.7 3450 3300 255 260 255 Westmex — —— 44.9 255 210 475 477 475 Westpac 28.00 5.89 6.5 506 458 365 370 365 Woolworth 16.50 4.52 12.0 400 340 — 420 420 Wormaid 20.00 4.76 9.1 425 400 102'0 1030 1030 Aberfoyle 5.00 .49 54.2 1250 1000 270 280 278 Ashton — — 60.4 300 260 375 380 375 AustDevl — — — 415 335 470 475 475 BellRes 15.00 3.16 6.2 490 438 310 312 310 Boungnvl 13.52 4.36 26.2 355 310 — 1590 1580 CNGold 55.00 3.48 16.5 1750 1500 698 700 700 CRA 6.00 .86 39.3 768 686 150 155 150 CarrBoyd 6.00 4.00 15.0 170 145 —— 008 007 ConsRes — — — 010 007 700 730 710 ConsRtle 27.50 3.87 14.4 710 680 208 210 210 Coronet — — 225 195 112 115 112 Dominion — — — 120 085 170 175 170 ERA 10.00 5.88 13.8 190 170 610 620 620 Emperor 13.00 2.10 53.4 650 600 1750 1850 1800 GMKalg 60.00 3.33 34.0 1900 1600 095 097 097 H11150 1.50 1.55 87.4 108 079 730 736 730 Kidston 40.00 5.48 17.8 840 690 100 105 — Kitchener —— — — 115 070 222 225 224 MIM 4.00 1.79 28.4 275 210 096 097 096 MetalsEx — — 40.0 112 083 246 250 250 NorthBH 8.00 3.20 19.0 280 238 — 090 088 Otter — — — 115 065 321 325 325 PancoritM 2.50 .77 17.3 335 260 270 285 280 Paringa — — 82.8 295 270 582 —— 582 Peko 20.00 3.44 9.8 630 580 3800 4000 — PlacrDev — — — 3940 3150 236 238 236 PlacrPac 3.00 1.27 — 280 222 650 656 650 Poseidon 10.00 1.54 50.0 670 550 158 160 160 QldCoal 23.56 4.73 6.8 175 156 1030 —— 1030 RGC 15.00 1.46 37.7 1050 960 022 024 024 SthnPac — — 024 020 035 040 038 Technomin —— — — 042 035 590 592 590 WMC 6.00 1.02 76.6 638 550 268 —- 268 WestSand 8.00 2.99 15.1 270 260 620 630 620 WhimCrk 11.00 1.77 — 646 564 245 250 245 AOG — — 53.3 270 235 340 350 345 AmpolExp — — 11.0 405 335 055 060 060 Beach — — —— 072 060 — 094 094 Bridge 3.00 3.19 8.0 105 080 083 085 083 Claremont 3.50 4.22 13.8 100 073 175 —— 175 Crusader — — 12.0 200 175 315 320 315 Hartogen — — 15.9 350 285 195 205 — Magellan — — — 200 170 009 010 — Magnet — — — 011 007 096 100 098 OilSerch — — —— 112 095 017 019 017 PancontP —■ — — 019 017 110 115 110 PekoOil — — — 128 103 008 009 009 Petroz — — — 009 008 420 422 422 Santos 14.00 3.32 7.0 470 415 280 285 285 Vamgas 8.00 2.81 12.6 325 280 — 950 — WeeksPet —— 10.8 920 920 168 — 168 Woodside — — — 170 150