AUSTRALIA Market hits record levels

Press, 24 July 1987, Page 21

AUSTRALIA Market hits record levels

NZPA-AAP Sydney The Australian . sharemarket closed sharply higher at record levels yesterday as investors scrambled for gold and resource stocks following further rises in bullion. Brokers said steady rises in bullion in the past two days sparked heavy demand, stemming Wednesday’s buying pressure. Higher base metal prices also fuelled interest in resource stocks. Turnover was heavy as 146.76 million shares worth $Au5t324.25 million changed hands. Rises outnumbered falls by four to three. Gold stocks led the charge as bullion firmed to $U5455.60/456.10 an ounce in early trade. Whim Creek found special favour, rising 100 c to 1300. Renison jumped 60c to 1220. Placer Pacific was up 35c to 455. Giant Resources rose 20c to 350 as 3.14 M shares worth 510.85 M changed hands. Resource stocks shared the limelight, many dragged higher by rising base metal prices. Firmer copper prices saw MIM add 13c to 280 and Bougainvillee 10c to 478. Western Mining was keenly sought, advancing 36c to 860. Nuigini Mining rose 80c to 1520. Heavy demand saw BHP climb 10c to 1055 as 1.2 M shares worth $11.58M changed hands. Interest rate-sensitive industrials were firmer on balance, reflecting the recent downtrend on money market interest rates. Blue chip stocks which rose included Elders IXL, up 28c to 510, with 1.54 M shares worth 57.82 M traded. Brokers said the rise was fuelled by continued speculation that Elders chief John Elliott intended to sell his stake in BHP. Buying pressure spread to BHP’s other major shareholder, the Bell Group. Its shares gained 20c to 880. Also up were Adsteam, 10c higher at 870, and Lend Lease, 20c higher at 1580. Amatil fell 10c to 880. Closing quotes Last

Industrial Buy Sell sale ACI 430 435 430 AFP Invst 325 330 325 AGC 275 285 280 AN! 214 215 215 ANZ 431 432 432 ARABS 290 300 300 opt 200 — — AWA 400 — 402 Acmex 600 610 600 AdelStm 864 880 870 Ad’tiser 650 660 — Alpha 26 29 29 Amatil 880 890 880 Amcor 470 500 470 Ampol 330 336 330 Argo 290 295 290 Ariadne 284 285 284 Arnotts 490 500 490 AFound 148 150 148 AustOvrs 55 56 55 opt 13 14 13 BHP 1050 1055 1055 BTGlobal 58 59 58 BTR Nylex 1050 1060 1060 BankQld 290 310 — Barwon 40 45 40 BellG 870 880 880 pf 3200 — — BellRes 508 510 510 Bisley new — 105 — opt 87 — — BondCorp 257 260 258 BondMed 97 98 97 opt 22 25 25 Boral 546 552 550 Brambles 998 1000 1005 Brierley 365 — 370 Bundaberg 260 265 — BurnsP dd 495 500 495 CRP Tr 40 —— — CIG 455 465 — CSR 382 384 382 Cadbury 250 265 260 ChaseCrp 335 360 335 Claradeen 105 110 105 ClytnRob 646 650 646 Clyde 215 220 215 CoalAH 455 —- 455 ColesM 746 750 746 Comalco 405 420 410 CoronetA 105 110 110 DeakMorg 180 —— — EDunlop 430 — — Eastcourt 65 — 65 Elders 510 512 510 Email 295 — 295 Equitcorp 115 118 113 EuroNat — 285 275 FAI 656 — 652 FairfaxJ — 470 460 Feltex 275 — 275 FineMet 246 250 250 bnd — 245 245 Fletcher 510 —— 510 Fortuna 270 290 270 GPT 325 330 325 Goodman 450 460 455 HDFI 110 130 — Hanimex 125 — 125 HardieJ 390 395 395 Hitek 70 — — Hooker 420 422 420 HugallH 115 120 — opt —— 45 — Humes 265 270 265 UProp 2200 2250 2250 ICI 480 500 500 lELGrwth 95 102 — lELIncme 95 102 102 ImaginT 145 148 opt — 150 — IndEquit 530 538 530 Inter-Pac 305 320 305

Jasco 185 — — Jennings 240 245 245 JonesDav 1140 1150 1150 JonesRbt 200 210 210 Jonray 190 200 190 Kern 356 360 356 Kimberley 150 — ■ 154 opt —— 200 —— Lrchhill 260 270 270 opt 150 170 — Leda 75 78 75 Leighton 92 93 92 LLease 1580 1590 1580 Linter 850 — 854 MayneN 530 — 530 McPherson 155 — 160 Memtec 530 540 530 Miniskips 135 140 — Monier 415 420 415 NZFor 350 355 350 NZICorp 195 200 200 NatAust 500 504 502 NatCons 370 375 — NewsCorp 1990 2000 1990 OPSM 300 302 300 Oakbridge 60 65 60 Oceanic 200 204 — bnd — 200 — PacDunlp 528 530 530 Parbury 220 225 — Industrial Buy Sell sale Peters Si 285 290 285 Pioneer C 395 400 398 Pioneer S —— 250 —— QBE 500 550 550 Reil Corp 450 470 —- opt 80 — — Renouf 183 187 185 Rheem 230 — — Rocardo In 20 25 — opt 10 — — Rothmans 800 820 800 Rothwells 330 340 340 Smith Hwd 536 540 540 Sthn Farm 750 — 746 Sunshine 240 265 250 TAB Pac 58 60 60 TNT 520 522 520 Taylor — 620 630 US Master — 95 92 Union C 644 650 —. Unity Crp 112 115 112 Vapocure 85 95 95 Vestcorp 138 140 140 Viking 30 33 30 Walton 34 35 34 Wattie 450 470 — Wattyl 340 345 — del — 340 — bnd — 350 — West Cptl 320 330 — Wfield Hl 1100 1200 1200 Wfield Tr 220 224 223 Westmex 200 205 205 Westpac 540 — 538 Wfld Cap 130 135 132 Woolworth 323 326 325 Wormaid — 350 350 Ac Mins 780 790 780 Aberfoyle — 670 — Ashton 345 355 350 Aust Devi 590 600 600 BHP Gold 145 148 148 Bouganvle 478 — 478 CN Gold 300 303 303 CRA 1030 1035 1035 Carr Boyd 195 220 —— City Res 162 165 165 bnd 155 160 — opt 125 130 130 Cons Res 5 6 5 Cons Rtle 670 — — Dominion 300 305 300 ERA 275 280 275 Elders Rs 365 370 365 Emperor 850 860 850 Forsayth 485 490 480 GM Kalg 980 990 980 Giant Res 345 350 350 Hill 50 250 255 255 Jason Min 295 300 300 J’lana 65 67 65 Kia Ora 115 — 115 Kidston 830 840 830 Kitchener 95 —• — Kiwi Gold 230 250 — MIM 278 280 280 Metals Ex 178 180 180 Metana 1430 1440 1440 Moruya 80 82 80 Niugini 1520 1540 1540 North BH 372 375 372 Nth Kalg 178 180 178 Nth Flndr 1430 1480 1480 Otter 65 70 — Pancont M — 395 395 Paragon 118 120 120 Paragon R 80 85 — opt 95 100 95 Paringa — 590 — Peko 820 824 820 Placr Dev 2250 2450 2450 Placr Pac 450 455 450 Poseidon 566 576 566 Qld Coal 158 160 158 RGC 1220 1250 1220 Sns Gwlia 1350 1360 — Spargos 80 83 80 bnd 80 — 80 ct 45 48 48 Sthn Pac 60 66 60 Technomin 44 45 44 WMC 860 867 860 Wai Min dd 250 255 250 West Sand 230 250 240 Whim Crk 1280 —— 1300 AOG — 255 255 Ampol Exp — 626 620 Beach 75 76 76 Bridge 180 185 182 Claremont 120 125 125 Crusader 310 315 310 Cultus dd 50 — 50 Expo — 115 110 Hartogen 360 370 365 Magellan 405 410 405 Magnet 10 11 11 Oil Serch 185 190 185 Peko Oil 168 170 170 Petroz 7 8 7 . Santos 760 762 762 Vamgas 380 390 — Weeks Pet 1200 — — Woodside 215 218 215