AUSTRALIA Markets stronger in bargain hunting

Press, 5 February 1987, Page 22

AUSTRALIA Markets stronger in bargain hunting

NZPA-AAP Sydney Australian share markets closed stronger as local and overseas investors continued to look for bargains amongst gold and blue-chip industrials. Brokers said sellers retreated on a lack of negative news, but the market remained nervous and further corrections were possible. Entrepreneurs such as FAI, Elders IXL and AFP I Investments strengthened I while medical stocks were in demand. National turnover was a moderate 107.3 million shares worth sAustl76.3 million, with rises outnumbering falls 345 to 281. Overseas investors returned to the markets after being absent earlier this week, with overseas trade of sAust23.2 million almost double that of Tuesday. Gold stocks were quietly traded, but found solid support as the bullion price firmed in Asian trading. Kidston rose 10c to 740, Australian Consolidated Minerals 30 to 630 and Emperor and Poseidon 10 to 630 and 660 c. Heavyweight miners, however, made the biggest gains, with MIM rising 13c to 237 on turnover of 3.3 M shares and I CRA putting on 12 to 712 c. FAI featured on the industrials board, closing 50c up at 980. Brokers said investors believe FAI will make considI erable profits on its purI chases in U.K. merchant bank, Hill Samuel. Private Blood Bank also stood out, jumping 56c to a record 506 while Pacific Dunlop finished 8c up at 440 in heavy trade. Both were heavily bought by overseas investors and brokers said they benefited ' from recent publicity about A.I.D.S. Elsewhere, Brambles gained 30c to 800, Elders IXL 9 to 494 on turnover of 4.4 M shares, Ariadne 10 to 356, lEL 10 to 530 and AFP 12c to 740. Fairfax traded 15c higher most of the day, but finished 75 up at 1390 after announcing it would tender for the Herald and Weekly Times’ Melbourne and Adelaide TV interests. News Corp closed 10 off at 1670 after reaching 1700. BHP gained 6c to 928, CSR 5 to 385 and Pancontinental 10 to 335. Bell Resources, which gained 17 on Tuesday, was trimmed back 15 to 460 bv nrofit-takers.

Closing quotes Last Industrial Buy Sell sale ACI 385 390 385 AGC 356 360 360 ANI 319 320 320 ANZ 568 570 570 AWA 706 710 706 Adel Stm 1330 1340 1340 Ad’tiser 640 650 640 Alpha 035 038 038 opt 020 ■ 030 Amatil 900 910 910 Amcor 430 435 435 Ampol 278 — 280 Ariadne 355 358 356 Arnotts 528 540 530 A Found 275 278 278 Aust Ovrs 055 058 058 opt 020 025 — BHP 926 930 928

y Barwon 06-1 065 064 s Bell G 970 976 970 j Pref 2800 2900 — Bond Corp 259 260 259 t ■ Boral 458 460 460 Brambles 79804 800 Brierley 355 358 358 Bundaberg 240 250 240 Burns P 906 — 910 ' C.R.P. Tr 054 — CIG 377 380 377 CSR 382 385 385 Cadbury 250 255 250 Carricks d 345 — Chase Crp 46C 490 460 Claradeen 13( 140 130 Clyde 185 187 185 Coal All —— 520 500 Coles M 602 606 600 Comalco 256 260 250 Deak Morg 152 — 152 E Dunlop 410 430 — Eastcourt 072 — 072 Elders 492 494 494 Email 275 280 — Equitcorp 132 135 135 Euro-Nat d — 385 — FAI 970 980 980 Fairfax J 1370 1400 1390 Feltex NZ MW 340 — Fletcher 400 430 — Fortuna 232 235 232 GPT 270 273 270 Goodman 440 460 440 H.D.F.I. 148 150 150 Hanimex 140 145 140 Hardie J 430 435 430 Herald 1500 1505 1500 Hitek 095 — 090 Hooker '325 — 325 Humes 280 285 280 II Prop 1900 1960 1950 ICI 320 325 325 IEL Grwth — 110 — IEL Incme 105 — Ind Equit 528 530 530 Jasco 196 WMV MW Jennings 180 185 — Jones Dav 1455 — 1455 Jones Rbt —■ 195 190 Jonray 400 410 — Kern 248 260 250 Lrchhill 240 243 240 opt 120 125 125 Leighton 096 100 096 L Lease 1010 030 1010 Linter 680 690 680 Mayne N 415 420 420 McPherson 262 270 — Memtec 520 530 520 Monier 225 230 225 NZ For 320 340 330 NZI Corp 175 — 178 Nat Aust 550 552 552 Nat Cons 325 330 330 News Corp 1680 — 1670 OPSM 350 368 365 Oakbridge, 060 065 060 Pac Dunlp 438 440 440 Parbury 200 — Peters Si 235 — 235 Pioneer C 290 293 290 Pioneer S 155 160 155 QBE 900 930 920 Renouf 220 — 220 Rheem 450 465 460 . Rothmans 1200 1250 1200 Rothwells 332 338 335 Smith Hwd 470 485 485 Sunshine —M 300 300 TAG Pac 077 >78 077 TNT 383 385 385 | Union C 560 640 — Unity Crp 270 280 280 I Vapocure 235 240 240 ■ Vestcorp 090 095 090 Viking 085 )90 090 Walton 031 >34 032 Wattie 490 Wfield Hl — 3300 3250 Westmex 250 253 253 Westpac 475 — 475 Woolworth 368 370 370 Wormaid 410 420 410 Aberfoyle 1040 — 1040 Ashton 270 276 276 Aust Devi 385 390 388 Bell Res 460 465 460 Bouganvle 310 315 310 CN Gold — 1580 1580 CRA 712 716 712 Carr Boyd — 152 152 Cons Res 006 — 007 Cons Rtle 706 730 730 Coronet 208 210 210 Dominion 118 — 118 ERA 170 75 170 Emperor 630 640 630 GM Kalg 1750 1800 — Hill 50 , 095 100 098 - Kidston 730 740 740 Kitchener 101 110 101 MIM 235 237 237 Metals Ex — 094 095 North BH 246 250 248 Otter 085 090 085 Pancont M 335 340 335 Paringa — 280 — Peko 580 590 584 Placr Dev 3920 4000 — Placr Pac 238 240 240 Poseidon 654 660 660

Qld Coal 158 159 158 RGC 1000 1030 1030 Sthn Pac 023 024 023 Technomin • 038 040 038 WMC 586 588 588 West Sand 265 268 268 Whim Crk 610 620 620 AOG 252 260 250 Ampol Exp 340 350 340 Beach 058 060 060 Bridge 094 095 095 Claremont 080 084 083 Crusader 175 180 180 Hartogen 310 320 315 Magellan 195 205 200 Magnet 009 010 Oil Serch 098 099 099 Pancont P 019 021 019 Peko Oil 110 115 no Petroz 008 009 008 Santos 415 420 417 Vamgas — 285 280 Weeks Pet 950 —— Woodside 168 — 168