FUTURES BSI holds ground
Barclays share index futures were easier yesterday, especially in morning trading. The March contract opened at 1690 and after trading between 1700 and 1670 closed 24 points down at 1680. “Futures were initially down but they held ground at the end,” said the manager of Egden Wignall Futures, Dr Brent Layton. He said the contract was not as easy as the physical market indicated it might be. “The contract was not super bearish,” he said. “The reasons are hard to fathom, but the buying was well spread. It was reasonably well bid and offered today. “It was definitely more positive than I would have expected,” he added. The BSI contract closed at an 11 point discount to the physical. Interest rate futures contracts eased yesterday, as physical rates trended up“We saw the longawaited correction
materialise today,” Dr Layton said. The March Government Stock contract opened at 8602 and after trading between 8585 and 8603, closed 8 points easier for the day at 8588.
The March Bank Bills futures contract closed 14 points down at 8352 after an opening 8370 and trades between 8350 and 8370.
Wool futures were not traded yesterday, with bidding similar to Tuesday’s. The U.S. dollar futures market has been traded more actively lately. Yesterday 20 lots were traded. SUS CONTRACTS Mth Open H/L Last Vol Mar 5180 180/098 5098 23 May 5425 425/425 5425 1 Contracts traded: 24 Open positions at February 22: Mar 172, May 1, Jun 1, Sep 2, Dec 6, total 182 (up 11). COMMERCIAL BILLS Contracts traded: Nil. Open positions at February 22: Mar 1, Jun 10, total 11 (same). GOVERNMENT STOCK Mth Open H/L Last Vol Mar 8602 603/585 8588 1393
Jun 8625 625/618 8618 52 Contracts traded: 1445 Open positions at February 22: Mar 4707, Jun 576, Sep 126, total 5409 (up 229). WOOL Contracts traded: Nil. Open positions at February 22: Mar 301, May 328, Aug 118, Oct 44, Dec 35, Jan 1, Mar 1, total 828 (down 1). 90-DAY BANK BILLS Mth Open H/L Last Vol Mar 8370 370/350 8352 141 Apr 8430 430/422 8422 26 May 8590 490/490 8490 6 Jun 8530 530/530 8530 5 Contracts traded: 178. Open positions at February 22: Mar 962, Apr 158, May 18, Jun 237, Sep 206, Dec 183, Mar 33, Jun 19, Sep 7, total 1823 (down 11). SYDNEY ALL-ORDS (half-points omitted) Prev. Mth close H/L Last Vol Mar 1261 294/263 1291 1223 Jun 1263 274/274 1274 26 Contracts traded: 1249. Open positions at February 22: 5227 (up 171). BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Feb 1680 680/680 1680 2 Mar 1690 700/670 1680 54 Contracts traded: 56. Open positions at February 22: Mar 509, Jun 12, Sep 52, total 573 (up 22).
Mth Mar Apr May Jun
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Press, 24 February 1988, Page 39
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464FUTURES BSI holds ground Press, 24 February 1988, Page 39
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