FUTURES Interesting week?

Press, 10 March 1987, Page 40

FUTURES Interesting week?

Share-index futures, U.S. dollar and interest-rate contracts were the focus of activity on the futures market yesterday. With the N.Z. dollar threatening to test 57 U.S. cents and interest rates adjusting after the bank-strike fears and the huge tax take, there could be some interesting action in futures this week. Barclays share index increased more than the index itself yesterday. March share futures contracts were 15 points up on Friday (close to close), while the physical index was up 12.21 points at 3280.78. The March futures contract is at a premium of 0.43 percentage points to the physical index. Ninety-day bank bill futures jumped sharply as call rates passed on the physical market. March contracts closed 40 points firmer than on Friday. April was up 28 points, May 10 points, and June 65 points, Call rates were down two percentage points yesterday, perhaps because of the avoidance of a bank strike. Government stock futures were also firmer. March contracts closed three points higher than on Friday and June was 11 points up. U.S. dollar futures moved in heavy trading. Responding to the stronger kiwi dollar, the March U.S. dollar futures fell. At the close the contract

was down 239 points on the Friday close — a movement of about SNZI2OO a contract. Details of yesterday’s trading: SUS CONTRACTS Mth Open H/L Last Vol Mar 1.7806 7806/761 7761 160 Apr 1.8090 8090/090 8090 1 Contracts traded: 161. Open positions at Mar 6: Mar 354, Apr 5, May 8, Jun 1, total 368 (up 1). COMMERCIAL BILLS Mth Open H/L Last Vol Mar 7430 430/430 400 8 Contracts traded: 8. Open positions at Mar 6: Mar 248, Jun 123, Sep 43, Dec 40, Mar 39, Jun 10, total 503 (same). GOVERNMENT STOCK Mth Open H/L Last Vol Mar 8178 178/170 172 259 Jun 8245 245/235 240 92 Contracts traded: 351. Open positions at Mar 6: Mar 2304, Apr 2, Jun 1170, total 3710 (up 74). WOOL Mth Open H/L Last Vol Mar 589 589/589 589 1 Jan 658 658/658 658 2 Mar 665 665/665 665 1 Contracts traded: 4. Open positions at Mar 6: Mar 7, May 237, Aug 184, Oct 170, Dec 140, Jan 237, Mar 224, May 106, Aug 11, total 1316 (up 7). WHEAT Mth Open H/L Last Vol Contracts traded: nil. Open positions at Mar 6: Unchanged. 96-DAY BANK BILLS Mth Open H/L Last Vol Mar 7455 485/455 485 33 Apr 7560 580/560 565 26 May 7690 690/680 680 30 Jun 7850 850/850 850 6 Contracts traded: 95. Open positions at Mar 6: Mar 470, Apr 137, May 35, Jun 139, Sep 46, Dec 44, Mar 53, Jun 40, Sep 40, Dec 40, total 1044 (up 17). SYDNEY ALL-ORDS (Half-points omitted) Mth Open H/L Last Vol Mar 1663 1662/48 1652 1518

Jun 1659 1655/48 1651 72 Contracts traded: 1590. Open positions at Mar 6: 14,261. BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Mar 3295 345/292 295 705 Jun 3345 ' 345/345 345 10 Contracts traded: 715. Open positions at Mar 6: Mar 1567, Jun 36, total 1603 (up 55).