FUTURES Barclays shoots ahead

Press, 18 March 1988, Page 12

FUTURES Barclays shoots ahead

The Barclays share in-' dex futures contract shot up : yesterday as the physical market forged ahead. The March contract topped the 200 point mark, seen by somri dealers as a psychological barrier, to close at its highest level since ary 9. At the close, the March Barclays share index futures contract was 80 points ahead for the day. After opening at 1941 the contract traded steadily up to close at its high for the day of 2010. The contract finished at a 41 point premium to the physical. A dealer for Egden Wignail Futures, Mr Mark Thiele, said now that all the negative announcements have been made by listed companies, there is no reason for the market to be sold down. He said the Brierley interim announcement had been absorbed by the market and the outlook is now positive.

Volume was high yesterday, with more than 300 contracts traded. Interest rate futures continued their strong run yesterday, with the March

Government Stock contract reaching a new high. Tlje' Government Stock futures contract for April closed] 27 points ahead yesterday at 8692. The contract traded in a narrowjfive point range after opening at 8697. The April 90. day bank bills contract was.B points ahead at the close, after it had) opened at 8520 and traded as low as 8510. Volume was heavy, with 292! lots changing hands. The manager of Egden Wignall Futures, Dr Brent Layton, said there is no reason for interest rates to I stop falling, so the ouflbok for futures remains good. *|A lot of people are looking for a correction, but There is no reason for rates to stop dropping. Historically, they are still very high.” “My advice (to the futures traders) is- to just hang in there,” he said. In Sydney, March SPI futures rose 43 points to 1403 and 1144 contracts wer;e traded. ! SUS CONTRACTS Mth Open H/L Last Vol Apr i 15075 075/075 5075 1 Jun ■ 15300 300/300 5300 1 Contracts traded: 2. Open positions at March 16:

Apr Mar 2, Sep. 2, Dec 6, total 14 (down 334). COMMERCIAL BILLS Contracts traded: Nil. Open positions at March 16: Jun 10, total 10 (down 1). GOVERNMENT STOCK Mth Open H/L Last Vol Apr 8697 697/692 692 2 Jun 8695 708/694 703 1730 Sep 8720 729/715 728 49 Contracts traded: 1781. Open positions at March 16: Jun 3682, Sep 208, total 3890 (down 1938). WOOL Mth Open H/L Last Vol May 637 638/637 638 6 Contracts traded: 6. Open positions at March 16: Mar 146, May 319, Aug 130, Oct 59, Dec 47, Jan 1, Mar 1, total 703 (down 17). 90-DAY BANK BILLS Mth Open H/L Last Vol Apr 8520 525/510 511 124 May 8620 620/585 590 58 Jun 8619 620/605 ' 605 71 Dec 8635 635/630 630 39 Contracts traded: 292. Open positions at March 16: Apr 350, May 48, Jun 323, Sep 292, Dec 204, Mar 33, Jun 19, Sep 3, total 1276 (down 1041). SYDNEY ALL-ORDS (half-points omitted) Prev. Mth close H/L Last Vol Mar 1360 404/368 1403 1143 Jun 1379 422/387 1422 46 Contracts traded: 1189. Open positions at March 16: 6058 (up 44). BARCLAY’S SHARE INDEX Mth Open H/L Last Vol Mar 1941 010/941 2010 302 Jun 2100 100/100 2100 1 Contracts traded: 303. Open positions at March 16: Mar 482, Jun 19, Sep 58, total 559 (up 36).