AUSTRALIA Profit-taking halts rise

Press, 2 June 1988, Page 25

AUSTRALIA Profit-taking halts rise

NZPA-AAP Sydney The Australian sharemarket closed sharply higher yesterday, but profit-taking sent the market off its earlier highs, brokers said. "The market was almost ready to explode this morning, but it lost its impetus in the afternoon,” one local dealer said. "Most of the profit-taking was in the industrial sector, banks in particular.” At the close of floor trading, the all ordinaries index was 18.8 points higher at 1585.8. The index peaked at 1601.4 — its highest level since October 23 when it was 1628.9. The all industrials rose 18 to 2531.5. The gold marker jumped 49.8 to 1852.2 in line with higher international gold prices. The all resources gained 18 to 869.7. National turnover was 134.2 million shares worth $239M. Rises outnumbered falls by three to two. On the industrial board, most attention focused on the banking sector. Westpac gained 12c to 766 c, while the NAB lost 8c to 612 c and the ANZ fell 4C to 486 c. Market leader BHP jumped 20c to 876 c and BTR Nylex was 34c higher at 74Qc. Elders IXL added 3c to 315 c and Industrial Equity gained 7c to 193 c. News Corporation gained 10c to 1170 c while Qintex Australia was unchanged at 210 c. Elsewhere, Bell Resources gained 3c to 186 c and Bell Group fell 10c to 205 c. Retailer Coles Myer advanced 44c to 970 c, Woolworths rose 10c to 310 c and David Jones fell 4c to 910 c. Transporter Mayne Nickless gained 36c to 656 c, TNT rose 10c to 460 c and Brambles lost 4c to 976 c. Pioneer Concrete added

10c to 330 c as 3.75 million shares traded, BTR Nylex gained 34c to 740 c, while Lend Lease Corporation slipped 10c to 1470 c and Rothmans tumbled 30c to

Mr lan Shrimpton has been appointed executive director of the Canterbury Chamber of Commerce. He is also representing the interests of Canterbury businesses on the management committee of the New Zealand Chambers of Commerce. He has a marketing background and experience in the motor industry, property development, importing, exporting, manufacturing and financing. Mr Bevan Smith, president of the Canterbury Chamber, said the appointment marked the adoption of a more aggressive role by the chamber, representing commercial interests in the Canterbury region.

350c. Closing quotes Last Industrial Buy Sell sale AFPInvst 98 100 98 ANI 185 187 185 91nts 450 — 450 96nts — 350 350 ANZ 483 485 483 AWA 280 285 280 Acmex 145 150 145 AdelStm 680 690 690 Alcan 250 — 250 Alkair 122 125 122 Alpha — 25 — Amatil 920 924 924 B 820 920 — Amcor 485 488 ■ 485 Ampol 365 370 — ApexPac 80 90 80 Argo 270 280 — Ariadne 25 26 26 Arnotts 470 480 480 Arrowfeld 320 — 330 pref — 100 — AFound — 146 145 AustOvrs 36 40 36 BHP 876 880 876 BTGlObal — 38 36 BTR 730 740 740 BankQld 305 315 305 BellG 200 202 200 pref 600 — 650 BellRes 185 186 185 Bisieyopt 1 4 — Bondcorp 200 204 204 BondMed 62 63 62 opt 4 5 5 Boral 457 460 457 Brambles 970 976 970 90nts 998 — 1000 BrickP 370 375 371 Brierley 124 126 126 Bundaberg 310 315 315 BurnsP 372 375 375 CRP 33 36 33 CIG 420 — — CSR 452 455 455 Cadbury 340 350 350 Chase 75 76 75 Claradeen — 52 — ClytnRob 115 118 118 Clyde 135 140 140 CoalAll 400 420 — ColesM 954 960 954 Comalco 442 448 442

CorpEqit opt Cortaus 180 95 5 190 105 7 180 5 WfldCap WilNeill Woolworth 83 36 311 85 38 325 84 37 .311 Costain 380 400 380 Worm aid 190 192 190 Deak 50 55 AUR 33 36 33 EDunlop Eastcourt 235 250 245 ACMins 320 330 320 43 45 43 Aberfoyle 546 550 550 Elders 314 315 315 Ashton 134 135 135 Email 400 415 415 AustDevl — 185 185 Equitcorp EuroNat 69 60 70 70 70 60 BHPGold Bendigo 76 26 80 30 76 30 FAI 445 446 445 Ct 3 4 • ' Feltex 215 — 91opt 6 8 FinMet 85 90 85 96opt —— 10 — FCL 382 385 385 Bougainvl 380 385 385 Fortuna 138 140 138 CNGoId 82 83 83 GPT 298 300 300 CRA 870 876 870 Goodman 275 276 276 CarrBoyd 69 —— 72 HDFI 25 26 25 CityRes 30 31 30 Hanimex 255 — 260 ConsRes 2 3 2 Hardie 348 354 348 ConsRtle 770 800 — Helm 195 200 199 DeltaG 58 60 60 Hitek 71 72 71 opt 33 35 32 Hooker 232 237 239 Dominion — 125 125 Humes 268 270 268 ERA 270 275 270 UProp ICI 1705 1800 EldersRs 240 248 245 640 644 640 Emperor 300 315 320 lELGrwth 110 120 Forsayth 150 155 150 lELIncme 80 — — GMKalg 143 145 145 Imagin 100 110 110 GiantRes 127 — 130 IEL 195 198 195 opt 3 4 3 InterPac 50 70 Hill50 165 — — Intrchase 140 135 JasonMin 95 100 100 Jasco 192 195 — Jlana 22 23 • Jennings 260 —. 260 KiaOra — 40 39 JonesDav 910 914 910 Kidston 400 405 405 JonesRbt 92 95 90 Kitchener 50 — — Jonray Kern 87 90 85 KiwiGold 7 10 10 245 250 255 MIM 180 182 180 Kimberley 79 MetalsEx 185 190 185 Lrchhili 30 32 32 Metana 840 850 850 opt 2 Moruya 42 44 42 Leda 43 44 43 Niugini 375 385 380 Leighton 80 85 85 Noranda 89 90 90 LLease 1465 1470 1470 NBH 342 345 345 Linter 336 344 — NthKalg 54 55 55 Mayne 644 650 644 NthFlndr 770 780 — McPherson 133 140 135 Otter 25 28 — Memtec 255 260 255 PancontM 185 190 180 NZFP 305 305 Paragon 72 75 NZI 178 180 178 rts 80 85 — NatAust . 610 612 610 opt 45 50 50 NatCons 292 300 300 Paringa 140 —— 145 NewsCorp 1160 1170 1170 PlacrPac 232 235 232 OPSM 305 310 305 Poseidon 230 232 230 Oakbridge 28. — QldCoal 112 115 115 PacDunlp 450 452 450 RGC 880 890 880 Parbury 85 87 SnsGwlia 730 740 740 PetersSl 260 265 260 Spargos 27 28 27 Pioneer 330 332 330 SthnPac 40 50 50 QBE Qintex 480 485 480 Technomin 15 22 — 425 430 430 TitanRes — 11 10 Reil 198 200 —— opt 2 3 — opt 10 19 11 WMC 604 606 604 Rheem 252 268 265 WalMin 110 — 110 Rothmans 930 960 950 WestSand 195 200 198 Rothwells 82 83 — AOG 68 69 68 SmithHwd 315 — 315 Ampol 300 309 310 SthnFann 430 440 — Beach 33 36 33 Stockbge opt 45 50 20 45 Bridge opt 93 48 95 50 93 48 TAGPac 21 25 Claremont 31 32 32 TNT 455 460 458 Crusader 135 140 135 Taylor 165 185 — Cultus 25 — —• USMaster 53 — — Expo 35 40 35 Union ' 560 570 — Hartogen 185 190 185 Vapocure 15 20 20 Longreach — 10 Vestcorp — — 28 Magellan 320 330 330 Viking 13 14 — Magnet 6 7 6 Walton 35 37 35 OilSch 133 134 134 Wattyl 436 445 435 PekoOil 120 121 120 WestCptl 150 150 Petroz 2 3 —• WfieldHI 390 395 395 Santos 460 465 465 WfieldTr 189 190 190 Vamgas 300 320 300 Westmex 97 98 98 WeeksPet — 1050 — Westpac 764 768 766 Woodside 184 190 188