FUTURES Barclays rallies
The Barclays share price futures contract rallied on the back of the sharemarket yesterday, to extend its premium. The premium rose from 96 points at the close on Wednesday to 120 points yesterday, the contract closing two points off its high at 3453. The trading range was a slightly broader 74 points compared with the previous session. A trader said that the futures had closed well bid on Wednesday and the expectations that they would open on a strong note yesterday were fulfilled. Both the contract and shares rallied throughout the day. The Barclays closed near-its highs, indicating that the market expected further gains today. The Government stock (GSK) contract opened five points above Wednesday’s close and moved up, triggering stop losses from those who were holding short positions.
However, two large selling orders on the physical market in the afternoon helped the GSK to retreat to end near its lows, the trader said. The bank-accepted bills contract followed the same trend as the GSK.
On the Sydney Futures Exchange, September share price index futures climbed to 2058.0 — a 72.7 point premium to the physical market — after opening at 2025.0 from 2018.0 on Wednesday. Details of yesterday’s trading were:
SUS CONTRACTS Mth Open H/L Last Vol Aug 1.6510 6510/6510 6510 2 Sept 1.6700 6703/6700 6703 3 Contracts traded: 5.
Open positions at July 22: Aug 209, Sep 214, total 423 (down 2).
COMMERCIAL BILLS Mth Open H/L Last Vol Contracts traded: Nil. Open positions at July 22: Sep 43, Dec 40, Mar 39, Jun 10, total 132 (same). GOVERNMENT STOCK Mth Open H/L Last Vol Sept 8371 375/363 363 522 Contracts traded: 522. Open positions at July 22: Sep 6209, total 6320 (down 131). WOOL Mth Open H/L Last Vol Dec 665 668/665 668 12 Jan 670 670/668 669 19 Mar 681 681/680 681 16 May 697 697/692 692 17 Contracts traded: 64. Open positions at July 22: Aug 30, Oct 54, Dec 99, Jan 299, Mar 304, May 205, Aug 18, Oct 1, Dec 2, total 1012 (down 10). 80-DAY BANK BILLS Mth Open H/L Last Vol Aug 8140 155/135 135 160 Sep 8168 175/150 150 24 Oct 8195 195/195 195 10 Dec 8235 235/235 235 2 Mar 8240 240/240 240 2 Jun 8301 301/301 301 2 Contracts traded: 200. Open positions at July 22: Aug 235, Sep 660, Oct 4, Dec 200, Mar 214, Jun 136, Sep 120, Dec 125, Mar 10, total 1704 (up 10).
SYDNEY ALL-ORDS (half-points omitted)
Mth close H/L Last Vol Sep 2018 2060/25 2058 1868 Contracts traded: 1868. Open positions at July 22: 7920.
BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Sep 3400 455/381 453 392 Contracts traded: 392.
Open positions at July 22: Sep 1838, Dec 79, total 1917 (up 70).
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Press, 24 July 1987, Page 20
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463FUTURES Barclays rallies Press, 24 July 1987, Page 20
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