FUTURES Lethargy hits Barclays
The Barclays share price index contract was hit by the lethargy of the other five contracts on the New Zealand Futures Exchange yesterday.
The contract was traded in a narrow, quiet range of 55 points, closing 15 points off its high at 3400. However, the Barclays managed to increase its premium two points to 96 points.
One trader said that there was no real volume and no major trend in the Barclays. The bank-accepted bills (BAB) contract was worse, where there was only 10 lots done.
The Government stock (GSK) contract had
looked like it was going to be sold every day, but because of the lack of conviction for the necessary movement it had ended up being bought near the close, the trader said.
The GSK traded in a narrow range, with no moveihent in the physical rates and no reasons for the contract to change, based on possible future events.
On the Sydney Futures Exchange, September share price index futures were lower at 2018.0 — a 56.6 point premium to the physical market — from 2024.0 at the open and 2036.0 on Tuesday.
SUS CONTRACTS Mth Open H/L Last Vol Aug 1.6553 6553/6553 6553 200 Sept 1.6746 6746/6722 6722 104 Contracts traded: 304 Open positions at July 21: Aug 210, Sep 215, total 425 (up 4). COMMERCIAL BILLS Mth Open H/L Last Vol Contracts traded: Nil. Open positions at July 21: Sep 43, Dec 40, Mar 39, Jun 10, total
Contracts traded: 579 Open positions at July 21: Sep 6350, Dec 101, total 6451 (down 138).
Open positions at July 21: Aug
30, Oct 54, Dec 99, Jan 292, Mar 300, May 206, Aug 18, Oct 1, Dec 2, total 1002 (down 6). M-DAY BANK BILLS
Contracts traded: 10 Open positions at July 21: Aug 235, Sep 657, Oct 4, Dec 195, Mar 213, Jun 135, Sep 120, Dec 125, Mar 10, total 1694 (down 11). SYDNEY ALL-ORDS (half-points omitted) Prev, Mth close H/L Last Vol Sep 2036 2027/13 2018 1810 Contracts traded: 1810 Open positions at July 21: 7796. BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Sep 3395 415/360 400 496 Contracts traded: 496 Open positions at July 21: Sep 1768. Dec 79, total 1847 (up 91).
132 (same). GOVERNMENT STOCK Mth Open H/L Last Vol Sept 8367 368/360 366 569 Dec 8450 450/450 450 10
WOOL Mth Open H/L Last Vol Jan 676 676/675 675 7 Mar 686 686/681 681 19 May 702 702/702 702 Contracts traded: 27 1
Mth Open H/L Last Vol Sep 8160 165/160 165 3 Dec 8225 225/225 225 5 Mar 8230 230/230 230 1 Jun 8300 300/300 300 1
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Press, 23 July 1987, Page 30
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441FUTURES Lethargy hits Barclays Press, 23 July 1987, Page 30
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