AUSTRALIA Sharp market rise

Press, 21 May 1987, Page 25

AUSTRALIA Sharp market rise

NZPA-AAP Sydney The Australian sharemarket closed sharply higher in thin trade yesterday, recovering most of the ground lost on Tuesday as buyers returned losing for bargains. Investors concentrated on gold stocks and heavyweight miners, down on Tuesday after a decline in gold and base metal prices. Yesterday’s buying followed a SUS 6 gain in bullion overnight, but brokers warned the market could fall again if the price failed to move ahead last evening. Selected industrials were also well-bid, as was market leader BHP, which recovered all of Tuesday’s loss.

National turnover was a low 137.4 million shares worth sAust249.6 million, with rises outnumbering falls four to three.

Brokers said overseas interest was higher than Tuesday, but still lower than it has been recently, amounting to about sAust2B.s million of the turnover.

BHP bounced back sharply after Tuesday’s loss and closed 20c higher at 994 after reaching 1000. Peko Wallsend rose 40c to 790 and North BH 10c to 390, while Bell Resources fell 20c to 550 and its new interest Pancontinental lost 10c to 430.

Emperor led the gains in the gold sector, brushing off concern about its Fiji operations and gaining 80c to 970. Whim Creek and Kidston added 50c to 1350 and 900, Central Norseman rose 40c to 345 and Nuigini 20c to 1380. North Kalgurli gained 8c to 218 as another 2.7 million shares changed hands. Among the heavyweight miners WMC gained 24c to 812 on turnover of 1.6 million shares, MIM put on 20c to 288 and Bougainville 16c to 546. Elsewhere, BTR gained 20c to 830, Brambles 14c to 950 and Hooker and lEL 15c each to 345 and 450.

Closing quotes Last Industrial Buy Sell sale ACI 400 — 401 AFP Invst 258 260 258 AGC 330 — 330 ANI 196 198 198 ANZ 624 626 626 AWA 325 330 325 Acmex — 650 650 Adel Stm 910 914 914 Ad’tiser 650 660 650 Alpha 22 23 22 opt 9 — 9 Amatil 760 — 760 Amcor — 440 440

Ampol 345 360 345 Argo 280 330 —. Ariadne 312 315 315 Arnotts 455 460 455 A Found 145 150 150 Aust Ovrs 48 50 — opt 8 10 10 BHP 994 998 994 Bank Qld 300 — — Barwon 60 65 60 Bell G 800 810 810 Bell Res 546 550 550 Bond Corp 250 255 250 Boral 495 498 498 Brambles 940 950 950 Brierley 280 284 284 Bundaberg 260 265 265 Burns P 1040 —— 1040 C.R.P. Tr 53 55 53 CIG — 410 410 CSR 390 392 392 Cadbury 215 220 210 Chase Crp 265 270 265 Claradeen — 120 120 Clytn Rob 510 520 510 Clyde 182 185 180 Coal All 385 400 385 Coles M 680 690 690 Comalco 345 348 345 Coron Res 165 172 168 Deak Morg 190 195 190 E Dunlop 395 410 — Eastcourt 60 —— 61 Elders 455 456 456 del — 560 — Email 260 272 270 Equitcorp — 100 95 Euro-Nat 280 285 280 FAI 1045 1050 1045 Fairfax J 1500 1520 1510 Feltex NZ — 275 — Fletcher 440 450 450 Fortuna 230 — — GPT 313 315 313 Goodman 445 448 448 H.D.F.I. 115 120 115 Hanimex 115 120 120 Hardie J 350 355 350 Hitek 65 68 72 Hooker 344 345 345 Humes 245 — 245 I I Prop 2350 2400 2400 ICI 455 460 460 IEL Grwth — 100 — IEL Incme 101 — — Ind Equit 447 450 450 Jasco — 200 — Jennings 195 210 210 Jones Dav 1075 1085 1080 Jones Rbt — 150 — Jonray 220 230 230 Kern 235 248 240 Lrchhill 300 305 300 opt 165 — 165 Leighton — 82 80 L Lease 1300 1300 Linter 806 820 810 Mayne N 425 430 430 McPherson 310 320 320 Memtec 600 620 — Monier 385 390 385 NZ For — 290 — NZI Corp 148 150 148 Nat Aust 468 470 470 Nat Cons — 390 370 News Corp 2000: 2020 : 2020 OPSM 295 298 295 Oakbridge 60 62 60 Pac Dunlp 465 468 465 Parbury — 220 220 Peters SI — 226 228 Pioneer C 348 350 350 Pioneer S 250 255 255 QBE 1250 1250

Renouf 150 160 150 Rheem 410 510 — Rothmans 660 — 670 Rothwells 350 355 350 Smith Hwd 475 480 478 Sunshine 235 240 235 TAG Pac 50 55 55 TNT 490 495 495 Taylor 600 — 596 Union C 644 —— 650 Unity Crp 85 100 80 Vapocure — 125 120 Vestcorp 155 160 155 Viking 46 50 50 Walton 38 40 40 Wattie 460 475 460 West Cptl — 400 — Wfield Hl 6800 7000 6800 Wfield Tr 205 210 207 Westmex — 180 180 Westpac 485 487 487 Woolworth 350 352 350 Wormaid 338 — 336 AC Mins — 740 740 Aberfoyle 600 610 — Ashton — 425 425 Aust Devi 640 650 640 Bouganvle 544 546 546 CN Gold 345 — 345 CRA 1085 1090 1090 Carr Boyd — 240 —- Cons Res — 7 7 Cons Rtle — 680 — Dominion 245 248 245 ERA 250 260 250 Elders Rs 395 400 390 Emperor 970 — 970 GM Kalg dd 1020 1040 1020 Giant Res 360 370 365 Hill 50 170 172 170 Kia Ora 132 135 132 Kidston 890 900 900 Kitchener — 130 — MIM ? 8 8 290 288 Metals Ex 2z0 225 220 Metana 1505 — 1505 Niugini 1360 1380 1380 North BH —— 390 390 Nth Kalg 218 220 218 Otter — 95 — Pancont M — 430 430 Paringa 600 610 600 Peko 780 800 790 Placr Dev 2400 —— — Placr Pac 460 465 460 Poseidon 582 590 584 Qld Coal 145 146 146 RGC 1190 — 1200 Sns Gwlia 1420 1430 1420 Sthn Pac 48 50 50 Technomin 55 60 60 WMC 812 — 812 West Sand — 315 310 Whim Crk 1350 1380 1350 AOG 270 280 270 Ampol Exp — 560 560 Beach 88 90 88 Bridge 155 160 160 Claremont — 142 142 Crusader 300 310 305 Cultus — 50 — ctg 40 45 40 Expo dd 135 — 135 Hartogen 500 520 510 Magellan 400 430 400 Magnet 14 15 14 Oil Serch 135 140 140 Pancont P 21 22 — Peko Oil 172 180 175 Petroz 9 10 10 Santos 690 694 690 Vamgas 365 370 365 Weeks Pet 1000 — — Woodside 245 255 245