Stocks slump in Aust.

Press, 23 July 1987, Page 30

Stocks slump in Aust.

NZPA-AAP Sydney The Australian sharemarket closed weaker yesterday as widespread profit-tak-ing gathered momentum and stocks slumped across the boards, unable to hold on to recent strong gains. Brokers said broad-based selling pressure, which emerged late on Tuesday after four consecutive record performances, sped up in response to negative signals from offshore overnight. Firmer bullion prices failed to slow down the buying push. Turnover was heavy as 122.34 million shares worth sAust27l.69 million changed hands and falls outnumbered rises by five to four. Resources and gold issues came under heavy selling pressure, despite firmer bullion prices. The metal was at 5U5453.25 at the close of trading after rising to 5U5452.70 in New York. Gold stocks to be sold down

included Elders Resources, 15c lower at 355, and Giant Resources, down the same at 330. Renison was an exception, up 10c to 1160. 'ln the resources sector, heavyweight miner CRA was particularly hard hit, falling 35c to 1010. Western Mining fell 12 to 824 and North Broken Hill lOto 360. BHP was relatively unscathed, losing 5c to 1045. Industrials were mixed, as profit-taking was interspersed with selective support for leading stocks. Thirty cent cuts saw Lend Lease drop to 1560 and News Corp to 1990. The Bell Group lost 26c to 864. Takeover target Clayton Robard, sought by finance group Tyndall Holdings for sAust4Bl million, rose 20c to the 640 bid price.

Closing quotes Last Industrial Buy Sell sale ACI 430 —— 435 AFPInvst 322 325 322 AGC 275 285 280 ANI 212 214 212 ANZ 425 426 425 ARABS 290 300 300 opt 200 210 200 AWA 400 402 400 Acmex 600 610 600 AdelStm 860 870 860 Ad’tiser 650 660 660 Alpha 28 30 29 Amatii 886 900 890 Amcor 460 465 460 Ampoi 330 336 330 Argo 285 — — Ariadne • 290 294 292 Arnotts 485 495 490 AFound 148 150 148 AustOvrs 55 56 55 opt 13 14 13 BHP 1045 1050 1045 BTGIobal 58 59 58 BTRNylex 1040 1050 1040 BankQld 290 — — Brwon — 40 40 BellG 860 866 860 pref 3200 — — BellRes — 510 510 Bisley new — 105 — opt 5 — — BondCorp 260 263 260 BondMed 96 — 97 opt 22 25 24 Boral 544 546 546 Brambles — 998 998 Brierley 365 — 365 Bundaberg 260 265 265 BurnsP dd 485 490 490 CRPTr 40 47 45 DeakMorg 170 190 170 EDunlop 420 — 424 Eastcourt 60 —— 65 Elders 480 482 482 Email 290 — 300 Equitcorp 109 Ill 110 Euro-Nat 275 285 285 FAI 640 650 650 Fairfax! — 450 450 Feltex — 300 —— FineMet 245 250 — bnd — 245 — Fletcher 504 520 510 Fortuna 270 290 —. GPT 333 335 335 Goodman 445 450 450 HDFI 110 130 110 Hanimex 120 — 120 HardieJ 390 395 395 Hitek 70 80 70 Hooker 423 425 425 HugallH — 120 — opt —— 45 —— Humes 265 270 265 UProp 2200 2300 — ICI —— 500 500 lELGrwth — 102 102 lELIncme — 102 — ImaginT 145 — 150 dd — 150 IndEquit 532 540 530 Inter-Pac 305 320 305 Jasco 185 190 185 Jennings 240 245 240 JonesDav 1100 1140 1140 JonesRbt 200 — 200

Jonray 180 190 180 Kern 350 355 — Kimberley 150 200 150 opt —- 200 — Lrchhill 260 290 — opt 150 170 — Leda 75 80 75 Leighton 92 93 —— LLease 1560 1570 1560 Linter 850 850 MayneN 526 —- 530 McPherson 155 155 Memtec 536 540 540 Miniskips 135 140 135 Monier 415 420 415 NZFor 350 355 350 NZICorp 195 205 205 NatAust 500 502 502 NatCons 370 — 370 NewsCorp 1990 2000 2000 OPSM 301 303 301 Oakbridge 57 60 60 Oceanic 200 205 —• bnd — 200 — PacDunlp 530 534 530 Parbury 220 225 220 PetersSl 295 300 295 PioneerC 390 395 390 Pioneers — 250 — QBE — 600 —— RellCorp 450 470 460 opt 80 — Renouf 183 184 — Rheem 230 230 Rocadoln 20 25 —- opt 10 — — Rothmans — 820 820 Rothwells 320 340 340 SmithHwd 530 540 540 SthnFarm 750 —— 756 Sunshine 250 255 255 TAGPac 58 60 60 TNT 512 514 512 Taylor 620 — 620 USMaster —K 95 —— UnionC 644 650 — UnltyCrp 110 120 110 Vapocure 95 98 98 Vestcorp 138 142 140 Viking 28 30 27 Walton 33 37 37 Wattle 450 470 — Wattyl 333 360 340 del — 340 —— bnd — 350 — WestCptl 320 330 320 WfieldHl 1100 — —— WfieldTr 220 223 223 Westmex 195 212 212 Westpac 528 530 530 WfldCap 133 137 135 Woolworth 325 330 325 Wormaid 350 360 350 ACMins 776 780 780 Aberfoyle — 680 680 Ashton 345 350 350 AustDevl 570 — 560 BHPGold 146 148 146 Bouganvle 465 468 468 CNGold 285 290 287 CRA 1000 1010 1000 CarrBoyd — 225 220 CityRes 160 165 165 bnd — 160 160 opt 120 — — ConsRes 5 6 6 ConsRtle 670 680 Dominion 290 295 290 ERA 275 280 280 EldersRs 355 360 355 Emperor 810 — 820 Forsayth 460 470 460 GMKalg 980 990 980 GiantRes 330 335 330 Giant dd — 340 340 opt 125 130 130 H11150 238 240 238 JasonMin 280 290 280 J’lana 62 65 65 KiaOra 112 115 110 Kidston 780 800 800 Kitchener 95 — — KiwiGold 230 250 —— MIM 265 267 267 MetalsEx 170 175 170 Metana 1450 1460 1450 Moruya 80 85 85 Niugini 1420 1440 1440 NorthBH 360 362 360 NthKalg 169 173 172 NthFlndr 1430 1480 1480 Otter 65 70 65 PancontM 395 400 395 Paragon 112 115 115 ParagonR 80 85 —— opt 90 95 90 Paringa —- 570 —— Peko —— 816 820 PlacrDev 2000 2450 —

PlacrPac 420 425 420 Poseidon 550 560 560 QldCoal 157 158 157 RGC 1150 — 1160 SnsGwlia 1350 1370 1370 Spargos 85 85 bnd 82 86 82 ctg 50 — 50 SthnPac 56 60 56 Technomln 44 48 44 WMC 822 824 824 WalMin dd 250 255 250 WestSand 240 245 — WhimCrk ——. 1200 1200 AOG 260 270 265 AmpolExp 620 630 620 Beach 74 —— 74 Bridge 180 185 185 Claremont 126 128 128 Crusader 310 320 310 Cultus dd 50 — Expo dd 115 120 115 Hartogen 370 375 365 Magellan 405 410 405 Magnet —— 12 —— OilSerch 186 187 186 PekoOil 168 170 170 Petroz 7 8 , —— Santos 760 770 760 Vamgas 380 385 380 WeeksPet 1200 —— 1200 Woodside 207 209 209