AUSTRALIA Market weakens as leaders sold off

Press, 26 February 1987, Page 27

AUSTRALIA Market weakens as leaders sold off

NZPA-AAP Sydney Australian sharemarkets closed weaker in bearish trading as traders sold off leading resource stocks, banking and media stocks. One broker described the market as tired and looking for fresh news. “Investors are really looking for some signs of interest rates coming down or a significant rise in gold prices. The fall in the futures market is also pulling the market down." National turnover was 132 million shares worth sAust2o9 million with rises slightly higher than falls. BHP finished 10 down at 1015 after falling as low as 1000 as hopes of a take-over play involving Elders IXL and Bell Resources faded and a media report suggested BHP’s steel operations would report poor third quarter results. Among resource stocks CSR fell 13 to 370 and North Broken Hill 5 to 240.

Closing quotes Last Industrial Buy Sell sale ACI 390 393 390 AGC 350 360 355 ANI 335 340 335 ANZ 548 550 550 AWA 680 690 680 AdelStm 1370 1380 1380 Ad'tiser 626 630 20 Alpha 031 033 031 opt 022 025 — Amatil 1080 1090 1090 Amcor 470 478 478 Ampol 305 315 310 Argo 340 — —— Ariadne 358 360 358 Arnotts 570 • 570 AFound — 275 — AustOvrs 060 065 — opt 018 020 018 BHP 1010 1015 1015 BankQld 290 300 —- Barwon 060 065 065 BellG 1015 1020 1015 pref 3000 3300 — BondCorp 265 270 268 Boral 467 468 468

Brambles 870 876 870 Brierley 358 360 360 Bundaberg — 250 250 Burns? 920 970 970 C.R.P; Tr 055 — — CIG : 350 355 355 CSR 370 375 370 Cadbury 250 255 255 ChaseCrp " 450 460 450 Claradeen —- - 130 —— ClytnRob 820 850 830 Clyde > ' 185 187 185 CoalAll 460 470 470 ColesM , 614 616 616 Comalco 270 275 275 Coronet 120 125 120 DeakMorg 165 170 — EDunlop 400 420 420 Eastcourt —— 070 070 Elders 482 485 482 del 490 —— — Email 315 310 Equlticorp 136 137 136 Euro-Nat 345 —• 350 FAI 960 980 980 Fairfax! 1630 1650 1650 FeltexNZ — 337 III ■ ■ Fletcher 425 —«•• 430 Fortuna 230 — — GPT 272 280 272 Goodman 440 450 440 H.D.F.I. 135 138 138 Hanimex 155 160 155 HardleJ 435 437 435 Hitek 102 115 102 Hooker 358 360 360 Humes 285 300 —— UProp 1900 2000 — ICI 335 340 340 lELGrwth — 110 — lELIncme 100 124 — IndEquit 546 548 548 Jasco 195 197 195 Jennings 175 180 180 JonesDav 1600 1650 1600 JonesRbt — 155 155 Jonray 380 390 380 Kern 255 260 255 Lrchhill 255 258 255 opt 130 140 —— Leighton — 090 — LLease 1120 1120 Linter 742 750 750 MayneN 425 435 430 McPherson 285 288 285 Memtec 520 550 520 Monier 240 243 240 NZFor 318 320 318 NZICorp 186 190 186 NatAust 520 526 520 NatCons 350 360 355 NewsCorp 2240 2250 2250 OPSM 375 380 380 Oakbridge 055 056 055 PacDunlp 502 506 506 Parbury 225 240 230 PetersSl —- 230 230 PioneerC 335 340 340 Pioneers 180 185 —— QBE 960 980 960 Renouf 240 250 250

Rheem —— 470 — Rothmans 600 650 650 Rothwells 360 365 355 SmithHwd 516 520 516 Sunshine 280 285 285 TAGPac 070 075 075 TNT 435 440 440 UnionC 600 620 620 UnltyCrp 290 285 Vapocure 225 240 230 Vestcorp 115 125 115 Viking 075 080 080 Walton 040 —— 042 Wattie 530 —- WfieldHl 3600 3700 3600 Westmex 230 230 Westpac 470 472 470 Woolworth 355 . 355 Wormaid ; 400 410 405 Aberfoyle 1100 1150 1100 Ashton - 285 290 290 AustDevl 400 405 400 BellRes 1 445 450 455 Bouganvle 320 325 325 CNGold . 1450 1480 1480 CRA i 660 662 660 CarrBoyd 148 150 148 ConsRes i , 007 008 008 ConsRtle 750 770 760 Dominion i 148 150 148 ERA 175 180 175 Emperor 710 720 710 GMKalg 1930 1940 1930 GiantRes —— 325 320 H11150 ■«— 098 095 Kidston 730 736 730 Kitchener —— 095 MIM 232 235 235 MetalsEx 090 — 092 NorthBH 240 241 240 Otter 088 —— PancontM 310 320 320 Paringa 295 — 295 Peko 564 574 572 PlacrDev 4100 — 4100 PlacrPac 228 230 228 Poseidon 690 700 690 QldCoal 140 145 146 RGC 1260 1275 1260 SthnPac 025 023 Technomin —— 060 063 WMC 580 584 582 WestSand 305 310 308 WhimCrk 610 630 640 AOG — 260 255 AmpolExp 330 340 330 Beach 058 060 058 Bridge 090 092 090 Claremont 080 082 080 Crusader 170 175 175 . Hartogen 315 320 320 Magellan 185 190 —— Magnet 009 010 —— OilSerch 092 095 095 PancontP 018 019 018 PekoOil 105 108 105 Petroz 007 008 008 Santos 382 385 385 Vamgas 280 285 280 WeeksPet 950 —— Woodside 175 180 180