AUSTRALIA Brisk and rising

Press, 17 June 1988, Page 19

AUSTRALIA Brisk and rising

NZPA Sydney The Australian sharemarket closed on its highs for the second consecutive session yesterday after further rises in New York and London markets overnight. Brokers described trade as brisk, sector leaders leading the activities.

They said the over-all tone, of the market ahead of today's release of the May trade figures was confident, in spite of an expected widening in Australia’s current account deficit to about sAust7oo million from a previous $396M deficit in April. At the close of floor trading, the all-ordinaries index was 11.6 points firmer at 1599.2.

Rises outnumbered falls by about three to two as 156.4 M shares valued at $217.5M traded.

Brokers said fully franked shares were still underpinning the broad market’s advance and outweighed scattered profit taking and general book squaring ahead of the trade data.

Elders rose He to 310, after obtaining approval for a restructuring programme and the encouraging profit forecast of the chairman, Mr John Elliott. Elders saw trade of 5.2 M shares.

Elsewhere, FAI rose 7c to 460 on solid turnover, CSR rose 10c to 450 with about 2M shares traded and 10c rises took Adelaide Steamship and ICI to 670 c each. Amatil fell 46c to 920. BHP remained steady on 854 c on 2M shares exchanged and News Corp closed 20c higher at 1125.

The banks were mixed as the National Australia Bank ended 10c higher at 640 trading cum rights, Westpac was steady on 656 and the ANZ slipped 3c to 477. Brokers said the slight rise in bullion prices and a general improvement in base, metal prices also hleped push the broad market higher. The gold miner, Placer Pacific, rose 12c to 277 for a two-day gain of 27c and Metana and Sons of Gwalia added 10c each to 900 and 740 respectively. Forsayth climbed 4c to 198. CRA also continued to trade strongly and advanced 20c to 900, for a two-day rise of 50c, and Bougainville Copper recovered 10c to 405. WMC edged up 2c to 614.

National turnover was 179.3 M shares worth 5261/2M, rises outnumbering falls, 311 to 244.

Closing quotes Last Industrial Buy Sell sale AFP Invst 95 96 95 ANI 178 180 180 Slnts 452 460 455 96nts — 340 —— ANZ 477 478 477 AWA 260 265 260 Acmex 145 150 — AdelStm 664 670 670 Alcan 275 285 — Alkair 125 135 *" " Alpha 20 . 25 Amatil 906 910 910 B 810 900 Amcor 495 499 495

Am pot 365 380 — ApexPac ■— 75 75 Argo —— 265 — Ariadne 30 31 30 Arnotts 504 510 510 Arrowfeid 320 330 — opt 100 —- AFound 135 140 135 AustOvrs 35 37 36 BHP 852 854 852 BTGiobal 34 35 34 BTRNylex 800 804 804 BankQld 310 320 320 BellG 247 248 247 pref 650 —- — BellRes 170 171 170 BondCorp 188 190 190 BondMed 65 66 65 opt 5 6 5 Boral 460 461 460 Brambles 946 948 948 90nts 960 990 —- BrickP 370 380 370 Brierley 130 132 132 Bundaberg 295 305 300 BurnsP 370 375 370 CRPTr 36 — —— CIG 445 CSR 448 450 450 Cadbury 375 380 380 Cbase 86 88 <w>. Claradeen ——■I 63 ■■■■■■ Clay Rb 135 138 135 Clyde 122 123 122 Coal AU 390 400 400 Coles 934 938 938 Comalco 454 460 454 CorpEqit 180 195 185 opt 100 ■ 110 Cortaus 4 5 5 Costain 380 — —— EDunlop 210 235 220 Elders 310 312 310 Email 416 420 416 Equitcorp 70 72 70 Euro-Nat 55 60 — Expo 36 40 40 FAI 460 470 462 Feltex 230 — —— FineMet 95 100 95 Fletcher 385 390 390 Fortuna 150. — 155 GPT ’ 292 293 292 Goodman 265 268 268 HDFI — 25 — Hanimex 260 265 — Hardie 333 343 340 Helm 212 215 212 Hitek 75 80 75 Hooker 239 240 239 Humes 255 260 256 IlProp 1800 1825 ! 1800 ICI 670 —— 670 lELGrwth 110 118 —- lEUncme 80 —— —• ImaginT 120 130 122 IndEquit 180 183 180 InterPac 50 55 50 Intrchase 125 130 125 Jasco 210 — 210 Jennings 245 250 — JonesDav 930 934 934 JonesRbt 92 100 ■ Jonray 80 85 80 Kern —— 235 240 Kimberley 55 64 64 Lrchhill 25 30 — opt — 2 —— Leda 52 54 54Leighton 80 83 — LLease 1410 1430 1415 Linter 320 330 320 MayneN 634 640 634 McPherson —— 132 132 Memtec 245 260 250 NZFP 305 — NZI 165 175 175 NatAust 638 640 640 NatCons 268 270 270 News 1120 1125 OPSM 290 — ■■ 290 Oakbridge 20 23 21 PacDunip 443 445 443 Parbury 75 85 75 PetersSl 242 244 244 PioneerC 325 330 325 QBE 490 495 495 Qintex 425 430 —— ReilCorp 185 195 — opt 10 — — Rothmans 920 930 920 Rothwells 75 80 — SmithHwd 315 —- 315

SthnFarm 435 440 435 Stockbge 45 48 — opt TAGPac —— 20 •——• 25 27 27 TNT 448 450 448 Taylor 193 200 195 USMaster 55 III 55 UnionC ’ 570 580 Vapocure 12 ’ 15 —— Vestcorp 36 44 —- Viking 12 14 12 Walton ■1 ■» 35 ' M.. Wattyl 430 — 1 440 West CpU 172 — 170 Wfield Hl 425 475 425 Wfleld Tr 188 189 188 Westmex 105 107 107 Westpac 654 658 656 Wfld Cap 90 ' 92 90 Wil Neill 30 36 35 Woolworth 340 345 340 Wormaid 188 189 188 A.U.R. 40 42 40 AC Mins 355 360 360 Aberfoyle 600 620 600 Ashton 156 160 160 Aust Devi — 200 — BHP Gold 88 89 89 Bendigo 33 35 33 ctg 7 , __ - —. 88opt 8 10 .1 —. 89opt 10 12 —— Bougainvl 405 410 405 CN Gold 115 116 115 CRA 896 900 900 Carr Boyd — . 70 72 City Res — 32 32 Cons Res 15 25 Cons Rtle 820 850 850 Delta G 63 66 — opt 40 41 41 Dominion 135 139 135 ERA 275 280 275 Elders Rs 245 250 ■ —» Emperor 330 335 335 Forsayth 195 198 198 GM Kalg 165 167 167 Giant Res 148 150 148 opt 3 5 5 Hill 50 —. 200 — Jason Min 110 120 112 J'iana 22 23 23 Kia Ora 36 38 37 Kidston 425 435 425 Kitchener 50 — —— Kiwi Gold 10 16 MIM 198 200 200 Metals Ex 185 —— Metana 900 —• 900 Moruya 39 40 40 Niuginl 370 380 370 Noranda 90 92 90 North BH 345 347 348 Nth Kalg 47 48 48 Nth Flndr — 830 ■»"— Otter 23 25 23 Pancont M 228 230 230 Paragon 72 75 72 Paragon R 80 85 ——• opt 46 50 48 Paringa 162 165 — Placr Pac 268 270 270 Poseidon 245 250 245 Qld Coal 124 125 124 RGC 960 970 960 Sns Gwlla 740 750 740 Spargos 23 26 25 Sthn Pac 45 50 —— Technomln 16 19 - — Titan Res . 10 13 13 opt 3 5 4 WMC 614 616 614 Wai Min 120 125 125 West Sand 220 ' ■ • — AOG 72 75 75 Ampol Exp 330 — . 330 Beach 28 33 33 Bridge 100 101 100 opt 53 54 53 Claremont 31 33 32 Crusader 140 145 145 Cultus — 25 25 Hartogen — 180 180 Longreach — 11 Magellan 320 325 — Magnet 7 8 7 on sch 128 130 128 Peko Oil 134 138 135 Petroz 2 3 3 Santos 435 438 435 Vamgas 300 310 — Weeks Pet — 1050 ' —- Woodside 195 198 195