Aust, takes a mauling

Press, 10 February 1988, Page 41

Aust, takes a mauling

NZPA-AAP Sydney The Australian sharemarket closed sharply weaker yesterday as all sectors came under selling pressure, following poor performances on overseas markets overnight. Brokers said weaker finishes in London and Wall Street put industrial stocks under pressure and mining stocks were depressed by reports that gold prices could slump to SUS4OO an ounce. “The market looked quietly easier in the morning but took a by the close as early nervousness in the industrial sector spread to the other areas,” one broker said. The all ordinaries fell 22.6 points (1.8 per cent) to 1180.6. It is only the second time the all ordinaries has closed under 1200 since September 1986. The other time was November 11 last year when the index closed at 1151.6, its lowest level following the October crash. The gold marker fell 34.2 points (2.4 per cent) to 1374.8, its lowest since September 1986, and the all resources shed 13.2 (2.0 per cent) to 620.4, a level last seen in July 1986. The all industrials posted its biggest fall of the year, down 34.9 points (1.7 per cent) to 1926.2. National turnover was a moderate 105.73 M

shares worth sAustl73.olM. Falls led rises by five to two. Developers, media and food stocks were the worst hit among industrials. News Corp lost 60c to 1040 c, Bond Media 3c to 48c, Lend Lease 35c to 1110 c, Westfield Holdings 20c to 490 c, Goodman Fielder 15c to 190 c and Arnotts 8c to 450 c. Entrepreneurs also suffered, with Bell Group down 22c to 140 c, Adsteam off 15c at 400 c, Elders down 16c at 272 c and lEL 8c to 130 c. Elsewhere, BHP was off 12c to 632 c, Brambles shed 16c to 774 c and Burns Philp 20c to 370 c. FAI Insurances rose 10c to 430 c after a court ruling allowing it to trade its stake in Cumberland, which was steady at 79c. In spite of steady bullion prices overnight and during the day gold stocks fell following a U.K. analyst’s comment that gold could fall as low as BUS3BO/400 an ounce. Renison lost 50c to 640 c, Metana 40c to 610 c, Bougainville 15c to 275 c and Western Mining 11c to 392 c. Ten cent losses took Poseidon to 200 c and Eastmet to 100 c. Sons of Gwalia went against the trend, gaining 20c to 520 c. Other resource stocks to suffer included CRA, off 10c at 460 c, AGL, down 10c at 220 c, and Santos, 2c off at 370 c.

Closing quotes Dividends Cents Yld% P/E ratio Year’s Buy Sell Sale high low 370 375 370 ACI 17.00 4.59 14.9 415 370 80 85 78 AFPInvst — — 38.1 90 72 335 342 340 AGC 11.00 3.24 10.4 350 240 155 163 164 ANI 9.33 5.72 8.8 175 144 410 580 — 91 nts 34.10 8.32 — 425 380 320 — — 96 nts 30.50 8.97 — 340 302 335 338 338 ANZ 21.00 6.21 6.1 370 332 — 195 190 AWA 10.50 5.53 — 230 185 125 130 130 Acmex 10.00 7.69 9.3 130 100 400 405 400 AdelStm 36.00 9.00 3.0 445 400 870 — Ad’tiser 12.00 1.36 36.2 880 850 130 140 — Alcan 4.00 3.08 18.6 145 130 40 — — Alkair — — 7.8 45 35 15 16 15 Alpha — — 7.9 15 12 710 720 710 Amatil 24.40 3.44 11.0 714 650 700 — — B 24.40 3.49 10.9 704 700 360 370 365 Amcor 21.00 5.75 10.4 420 365 350 355 355 Ampol 7.50 2.11 9.8 355 320 — 98 — ApexPac 6.00 6.12 24.5 100 100 205 220 — Argo 11.00 5.37 21.8 220 205 47 48 47 Ariadne 10.00 1.28 1.5 52 42 440 450 450 Arnotts 15.50 3.44 18.3 470 400 285 290 290 Arrowfield 10.00 3.45 12.5 300 260 — 150 — opt — — — 140 140 105 106 106 AFound 5.50 5.19 19.3 112 104 31 32 31 AustOvrs 1.00 3.23 35.6 34 31 630 632 632 BHP 31.25 4.94 11.9 734 632 31 32 — BTGlobal 2.00 6.45 4.5 32 30 626 630 628 BTRNylex 12.00 1.91 22.8 700 610 260 270 — BankQld 15.00 5.77 11.5 270 260 — 17 — Barwon 1.00 5.88 7.6 22 18 140 145 140 BellG 10.00 7.14 1.9 190 140 — 1100 — pref 39.00 3.55 — — — 124 125 125 BellRes 15.00 2.00 1.8 165 124 1 2 — Bisley opt — — — 3 1 152 153 153 BondCorp 10.00 6.54 6.2 185 153 47 49 48 BondMed — — 28.2 60 48 9 10 — opt — — — 12 8 357 359 357 Boral 18.00 5.04 10.7 362 325 120 122 120 Botena -— — 4.1 123 120 770 780 774 Brambles 26.00 3.36 12.8 820 750 820 860 820 90 nts 30.75 3.75 — 830 750 336 — 335 BrickP 9.00 2.68 17.2 335 310 115 116 115 Brierley 9.20 8.00 4.7 190 110 260 270 260 Bundaberg 6.50 2.50 24.1 290 220 365 370 370 BurnsP 10.00 2.70 10.2 406 360 38 42 38 CRPTr — — — 40 32 410 420 — CIG 17.00 4.05 14.1 420 400 325 328 325 CSR 20.00 6.15 13.3 360 305 245 247 245 Cadbury 7.00 2.86 20.2 250 225 73 80 72 ChaseCrp 11.25 5.41 2.0 98 72 — 55 — Claradeen — 13.8 72 70 72 75 73 ClytnRob 5.00 6.85 4.1 155 70 150 155 150 Clyde 11.25 7.50 10.7 165 140 330 — — CoalAll 20.0 5.88 6.8 350 320 592 596 592 ColesM 24.00 4.05 12.2 630 580 220 225 225 Comalco 20.00 8.89 4.5 280 225 — 11 10 Cortaus — — 2.5 10 10 200 205 200 Costain 10.00 5.00 10.3 210 185 40 45 — DeakMorg 5.00 1.11 . 3.1 60 50 235 240 235 EDunlop 8.00 3.40 14.6 250 225 — 32 30 Eastcourt — — 4.1 32 30 270 275 272 Elders 17.90 6.58 4.8 330 272 275 280 278 Email 12.70 4.57 11.4 285 230 78 80 80 Equitcorp 2.50 3.13 3.3 85 75 40 45 40 Euro-Nat — — 1.5 55 40 430 435 430 FAI 8.00 1.86 8.4 590 415 220 250 250 Feltex 12.88 5.15 5.2 250 250

80 90 90 FineMet — — 6.9 106 90 375 385 — Fletcher 21.62 5.62 8.6 405 385 120 — Fortuna 12.42 1.29 5.0 120 100 276 278 276 GPT 23.20 8.41 11.9 290 270 189 190 190 Goodman 11.00 5.79 8.6 292 185 65 65 H.D.F.I. 10.00 5.38 2.9 80 65 125 130 130 Hanimex 5.00 3.85 8.2 150 130 262 273 260 HardieJ 18.00 6.87 9.7 285 245 165 170 170 HelmCorp 1.00 .59 42.5 185 160 38 — Hitek — — 34.5 45 35 168 170 168 Hooker 15.00 8.93 4.5 185 168 255 258 255 Humes 13.00 5.10 13.0 260 200 .750 — 1750 IlProp — — — 1800 1650 425 430 420 ICI 20.00 4.71 11.3 450 400 — — — lELGrwth 5.76 — — — — — — lELIncme 11.52 6.70 6.0 — — 70 71 70 ImaginT 3.00 4.29 7.0 80 70 128 130 130 IndEquit 10.00 7.69 3.9 170 130 60 85 — Inter-Pac 7.7 9.12 — 101 85 75 85 — Intrchase — — — 80 70 170 — 170 Jasco 5.00 2.94 10.5 175 170 200 205 205 Jennings 10.00 4.88 11.6 215 175 — 536 534 JonesDav 36.00 6.74 2.6 550 520 90 — — JonesRbt 4.50 5.00 7.1 115 80 88 90 90 Jonray 4.00 4.44 6.6 90 80 165 185 — Kern 5.50 3.24 5.5 170 150 — 100 — Kimberley • — — — 100 100 — 50 — Lrchhill 16.00 2.00 0.6 70 55 -— 10 — opt — — — 10 10 37 45 42 Leda — — 38.5 50 42 45 48 48 Leighton — — 7.7 50 44 — 1110 1110 LLease 45.00 4.05 14.1 1175 1010 250 255 250 Linter 20.00 8.00 6.8 280 225 420 450 450 MayneN 18.50 4.11 10.3 465 435 115 116 115 McPhers 6.25 5.43 9.8 125 115 200 210 200 Memtec 1.00 .50 4.9 250 200 260 265 265 NZFor 11.96 4.51 10.8 300 260 150 155 150 NZICorp 9.66 6.44 6.9 185 150 432 435 432 NatAust 24.75 5.73 6.4 450 400 235 240 235 NatCons 18.00 7.66 4.5 240 215 040 1050 1040 NewsCorp 7.00 .67 8.1 1310 1040 265 270 265 OPSM 11.50 4.34 14.9 280 255 23 25 25 Oakbridge — — — 28 17 375 376 375 PacDunlp 13.50 3.60 11.6 388 352 — 80 — Parbury — — — — . 246 250 246 PetersSI 17.00 6.91 9.0 255 213 212 220 215 PioneerC 12.50 5.81 7.2 270 210 385 395 385 QBE 14.00 3.64 9.5 390 380 412 430 410 Qintex 12.00 2.91 21.6 450 410 — 205 205 ReilCorp 3.00 1.46 11.0 “ 245 204 10 — opt — — 15 10 — — Renouf — — 20.0 190 180 236 240 238 Rheem 9.50 3.99 15.5 240 175 — 25 — Rocadoln — — — — — 100 100 nts 12.50 2.50 — 100 100 — 20 — opt — — — — — 7ib 750 710 Rothmans 20.00 2.82 11.5 710 640 65 70 65 Rothwells 24.00 6.92 1.2 78 65 280 290 — SmithHwd 20.00 7.14 14.4 290 270 430 450 430 SthnFarm 10.00 2.33 9.1 450 400 — 44 — Stockbge — — — 40 40 — — —— opt - —- —— — 5 5 18 — — TAGPac — — 5.3 25 18 388 390 390 TNT 15.00 3.85 9.7 420 370 145 155 155 Taylor 10.00 6.45 2.8 175 140 57 60 — USMaster — — 80.0 60 55 450 — — UnionC 22.00 4.89 9.4 510 450 60 65 60 UnityCrp 5.00 8.33 — 65 60 26 30 26 Vapocure — — —— 30 25 — 40 — Vestcorp 4.50 1.25 1.8 50 40 10 12 12 Viking — — 12.0 16 12 28 30 28 Walton . — — 31 28 350 355 355 Wattyl 10.50 2.96 13.1 365 335 170 175 — WestCptl 2.00 1.18 17.6 180 170 490 490 WfieldHl 5.62 1.15 20.1 540 490 170 172 170 WfieldTr 16.92 9.95 10.0 190 163 60 62 60 Westmex 5.00 8.33 5.3 72 60 482 485 483 Westpac 28.50 5.90 6.5 506 450 45 48 48 WfldCap 3.00 6.25 3.9 60 48 215 216 215 Woolworth —— — — 220 200 140 142 142 Wormaid 20.00 4.08 5.3 145 105 34 35 33 A.U.R. 2.00 5.88 4.7 56 33 260 265 265 ACMins — — 17.1 465 265 345 360 355 Aberfoyle 5.00 1.41 23.7 470 355 110 115 110 Ashton — — 7.5 155 101 140 145 145 AustDevl — — — 210 135 70 71 70 BHPGold — ■ — — 105 70 35 40 40 Bendigo — — — 70 40 30 28 cty — — — 28 28 — 20 25 opt — — — 70 25 10 15 15 opt — — — 45 15 271 275 275 Bougainvl 12.64 4.60 15.4 415 275 83 85 83 CNGold 3.30 3.98 8.0 140 82 455 460 460 CRA 15.00 3.26 18.5 680 460 72 75 75 CarrBoyd 6.00 8.00 10.7 105 70 30 32 32 CityRes 8.00 5.00 —— 50 28 2 3 — ConsRes — — — 4 2 590 600 — ConsRtle 45.00 7.50 7.6 640 580 86 90 84 Dominion — — — 130 80 225 230 — ERA 5.00 2.22 17.9 260 220 225 230 226 EldersRs 7.00 3.10 12.7 235 205 220 228 226 Emperor 22.00 9.73 4.5 370 215 150 155 155 Forsayth 10.00 6.45 6.5 217 150 240 258 255 GMKalg 24.00 9.41 8.9 340 255 80 90 90 GiantRes — — — 140 90 4 5 — opt ■ — — — 16 4 170 — HH150 — — 30.9 240 170 — 200 200 JasonMin — — — 315 200 — 14 14 J’lana — — — 25 14 37 38 38 KiaOra 4.00 0.53 19.0 46 35 340 345 345 Kidston 28.00 8.12 7.1 480 344 — 60 — Kitchener — — — 60 55 — 23 — KiwiGold — — — 30 25 130 132 132 MIM 4.00 3.03 26.4 208 132 195 200 195 MetalsEX — — 14.7 200 190 600 620 610 Metana 20.00 3.28 16.9 1000 610 28 32 32 Moruya — — 38 30 360 390 370 Niugini —— — 85.4 600 340 85 90 85 Noranda 16.87 9.85 2.6 200 85 222 225 225 NorthBH 9.00 4.00 17.0 270 219 54 55 55 NthKalg 1.99 3.62 8.4 82 53 590 — NthFindr 40.00 6.78 11.6 700 560 — 25 22 Otter — — — 39 22 150 165 165 PancontM 2.50 1.52 12.3 210 165 65 70 70 Paragon — — — . 78 65 80 85 — ParagonR — — — — — 42 52 46 opt —- — — 58 45 — 120 120 Paringa 42.90 5.75 0.9 210 no 680 690 690 Peko 22.00 3.19 11.7 752 670 126 128 126 PIcrPac 300 2.38 17.7 240 125 200 205 200 Poseidon 10.00 5.00 13.3 275 200 112 113 113 QldCoal 15.00 3.27 7.5 118 105 620 640 640 RGC 15.00 2.34 14.9 980 640 510 520 520 SnsGwlia 45.00 8.65 7.0 760 500 22 24 24 Sparges — — — 38 24 25 28 — SthnPac — — — 35 28 20 21 — Technomin ■ — — — 23 20 14 16 — TitanRes —- — 20 14 3 5 — opt — — 5 2 390 392 392 WMC 10.00 2.55 30.4 620 390 — 140 — WalMin — — — 150 no 140 160 145 WestSand 8.00 5.52 7.7 150 125 65 70 65 AOG — — 8.6 77 55 270 280 270 AmpolExp —— — 21.8 310 265 28 29 28 Beach 1.50 5.36 10.4 33 28 66 67 66 Bridge —— — — 82 63 26 27 26 opt —- — — 40 25 25 26 25 Claremont 3.50 4.00 8.3 38 25 105 no 105 Crusader 2.50 2.38 18.1 131 100 16 — 16 Cultus — — — 22 16 42 47 — Expo dd 6.00 3.33 4.4 47 38 140 150 140 Hartogen — — 16.3 180 140 4 — —— L’reachO — —■ — — — 280 300 280 Magellan — — 77.1 320 240 5 6 5 Magnet — — — 10 D 72 73 73 OilSch — — — 100 65 90 92 90 PekoOil — — 45.0 96 80 2 3 3 Petroz — — — 3 2 360 370 370 Santos 18.00 4.86 10.0 420 370 245 250 245 Vamgas 6.00 2.45 23.3 250 210 — 1075 — WeeksPet — — 46.0 — 123 125 123 Woodside — — — 132 115