Australia closes higher after early lethargy

Press, 6 July 1988, Page 42

Australia closes higher after early lethargy

NZPA-AAP Sydney The Australian sharemarket overcame its earlier lethargy to close higher in a resources led buying surge in afternoon trading, brokers said.

Demand for mining stocks after a recovery in the Australian dollar to above US7Bc and gains in international base metals prices spread through to leading industrials, particularly banks and transport stocks. But brokers said they were surprised by the market’s sudden recovery. Bv the close, the all ordinaries index was up 11.4 points to 1571.5 and the all industrials had put on 15.2 to 2504.4. The all resources gained 8.2 to 864.6 and the gold index was up 18.1 to 1895.9. Turnover was 87.91 M shares worth sAustl29.32 — and

rises led declines by about 13 to 10. Resource stocks returned to the limelight on strong overseas buying. CRA shot up 32c to 910, Western Mining 16c to 620 and North Broken Hill 13c to 338. MIM rose 5c to 199 with 2.9 M shares traded. But the support did not extend to gold stocks, which ended mixed. Emperor rose 10c to 310 and 1c gains took Newmont to 136 and North Kalgurli to 146 on turnover of I.BIM shares. But Metana lost 10c to 830 and Kidston 2c to 398. Banks led the gains in the industrial sector, with NAB jumping 26c to 616, Westpac 10c to 638 and ANZ 2c to 470. Rights in Westpac and NAB made solid gains on strong turnover.

Closing quotes iuy Sell Sale 95 96 98 AFP 177 178 178 ANI 380 465 — 91nts 321 335 —— 96nts 468 470 470 ANZ 258 260 260 AWA 135 140 135 Acmex 630 650 640 AdelStm — 265 — Alcan 128 130 128 Alkair — 25 — Alpha 820 850 850 Amatil — 900 — B 475 478 478 Amcor 360 — — Ampol 82 — — ApexPac

Dividends P/E Year’s Cents Yld% ratio high low — — 45.7 128 72 9.60 5.39 9.6 190 144 34.10 7.33 — 465 380 30.50 9.38 — 350 302 25.00 5.32 8.5 510 332 10.00 3.85 — 285 185 10.00 7.41 9.7 150 100 36.00 5.63 4.9 720 400 7.00 2.64 13.0 285 130 —— — 25.0 128 35 —. — 10.5 25 12 26.00 3.06 13.2 990 650 24.40 2.71 14.0 1000 700 21.00 4.39 13.6 516 354 7.50 2.04 10.2 380 320 6.00 7.06 21.3 100 75

Closing quotes Buy Sell Sale — 270 —— Argo 25 26 25 Ariadne 500 508 510 Arnotts 300 315 310 Arrowfeid — 100 95 89opt 145 148 145 AFound 37 — — AustOvrs 798 800 798 BHP 35 37 — BTGlobal 760 766 766 BTR —— 315 — BankQld 245 246 246 BellG 700 — 820 pref 170 171 170 BellRes 2 — — Bisleyopt 203 205 205 BondCorp 78 80 80 BondMed 5 6 6 91opt 464 465 465 Boral 938 940 940 Brambles 980 1020 — 90nts 365 380 365 BrickP 126 128 128 Brierley 335 340 335 Bundaberg 350 370 350 BurnsP 450 460 — CIG 474 475 475 CSR 345 350 345 Cadbury 85 87 — ChaseCrp 62 70 — Claradeen 130 135 135 ClayR 33 42 — ClayRPT 120 122 120 Clyde 430 440 430 CoalAll 954 966 960 ColesM 448 450 450 Comalco — 205 — CorpEqit 100 — — 91opt 4 5 — Cortaus 380 — — Costain 230 245 230 EDunlop 12 20 12 Eastcourt 312 316 316 Elders

Dividends P/E Year’s Cents Yld% ratio high low 11.00 4.15 21.9 280 205 — — — 52 22 18.00 3.54 20.7 520 400 10.00 3.23 13.4 350 200 — — — 140 90 5.50 3.79 26.4 150 102 1.50 4.05 42.5 45 31 32.00 4.01 12.7 890 628 2.00 5.56 5.3 40 30 10.00 1.31 24.4 980 600 15.00 4.76 13.9 320 260 10.00 4.07 3.3 250 130 39.00 4.76 — 820 200 12.50 7.35 — 190 97 — — -■ - 3 1 12.00 5.85 8.3 228 149 — 47.1 84 45 — — — 12 4 19.00 4.09 14.0 480 325 28.00 2.98 15.5 990 740 30.75 3.08 — 1020 750 10.00 2.74 21.2 390 310 8.80 6.88 5.5 190 100 7.00 2.09 31.0 335 220 10.00 2.86 11.6 440 335 17.00 3.78 15.1 450 400 20.00 4.21 16.7 488 305 8.50 2.46 23.8 380 225 11.25 13.24 2.3 100 58 — — 15.5 72 35 6.00 4.44 7.6 155 70 — — — 40 32 8.00 6.67 8.6 165 120 12.00 2.79 8.6 450 320 24.00 2.50 19.8 1000 570 15.00 3.33 18.1 \ 504 220 12.00 5.85 — 210 125 — — 140 13 — 1.2 10 4 12.00 3.16 13.1 385 185 8.00 3.48 14.3 275 220 — — 1.8 55 11 19.00 6.1 7.0 360 270

Closing quotes Buy Sell Sale 405 408 408 Email 63 67 65 Equitcorp 40 45 40 EuroNat 36 38 — Expo 420 425 422 FAI — 225 —- Feltex 90 96 — FinMet 388 390 390 FCL 160 — Fortuna 290 292 290 GPT 272 273 273 Goodman 20 26 — HDFI 250 260 250 Hanimex 313 314 313 Hardie J 242 245 242 HelmCorp 72 77 — Hitek 225 227 225 Hooker 245 248 245 Humes 1720 1750 1750 IlProp 676 680 680 ICI 120 130 — lELGrwth 85 — — lELIncme 135 136 135 Imagin 182 183 183 IEL 40 55 40 InterPac 175 180 175 Intrchase 210 215 210 Jasco 250 — 250 Jennings 926 930 926 JonesDav 80 84 84 JonesRbt 80 83 80 Jonray 210 228 225 Kern 52 65 — Kimberley — 25 — Lrchhill — 2 — 90 opt 50 51 51 Leda 75 78 78 Leighton 1330 1340 1330LLease 340 350 —- Linter 626 630 630 Mayne 122 130 130 McPhn 225 240 — Memtec 285 295 — NZFP

Dividends ?ents Yld% P/E ratio Year’s high low 16.00 3.92 13.4 460 230 2.50 3.85 2.7 85 65 — — 5.7 105 40 6.00 15.79 3.7 50 35 8.00 1.90 8.2 590 400 12.32 5.48 4.9 250 230 — 7.3 106 60 20.68 5.30 9.1 450 362 12.76 7.98 6.4 160 90 23.20 8.00 12.5 305 270 11.00 4.3 12.3 292 185 — — — 85 15 12.00 4.80 15.7 260 125 17.00 5.43 10.4 370 245 2.00 .83 60.5 300 160 — — 65.5 80 35 15.00 6.67 6.1 257 168 13.00 5.31 12.5 280 200 — — 1950 1650 22.00 3.24 18.0 700 400 5.76 4.80 20.8 120 70 11.52 13.55 7.4 85 73 3.00 2.22 13.5 136 70 10.00 5.46 5.4 198 130 — — — 150 40 — — — 180 175 5.00 2.38 13.0 230 150 10.00 4.00 14.1 280 175 36.00 3.89 4.6 960 520 4.50 5.36 3.3 123 72 4.00 5.00 5.8 90 80 5.50 2.44 7.3 272 150 — — —— 100 55 8.00 32.00 .3 70 18 — — . — 10 1 — — 46.8 55 30 — — 12.6 85 44 46.00 3.46 16.8 1500 1010 20.00 5.88 7.9 370 225 21.00 3.33 14.4 656 435 7.50 5.77 11.1 140 110 1.00 .42 5.9 300 200 16.00 5.52 16.9 315 260

Closing quotes Buy Sell Sale 128 — 128 NZICorp 616 620 616 NatAust 265 268 265 NatCons 1145 1150 1145 NewsCorp 280 288 288 OPSM 22 25 22 Oakbridge 427 428 427 PacDunlp 86 90 90 Parbury 246 250 246 PetersSl 314 315 315 Pioneer 512 520 512 QBE — 425 — Qintex 200 215 — ReilCorp 12 — — 92 opt — 900 890 Rothmans — 75 75 Rothwells 300 310 310 SmithHwd 432 435 435 SthnFarm 20 30 — Stockbge — 20 — 89 opt 25 26 — TAGPac 436 438 436 TNT 195 200 200 Taylor 52 55 52 USMaster 570 606 — Union 15 22 — Vapocure 28 30 — Vestcorp 11 14 12 Viking 28 35 — Walton 421 430 — Watty! 200 — — WestCptl 400 430 420 WfieldHl 188 190 189 WfieldTr 115 120 120 Westmex 636 638 638 Westpac 85 87 86 WfldCap 49 50 50 WilNeill 320 328 328 Woolworth 180 182 182 Wormaid 38 42 — AUR 345 352 350 ACMins 600 610 590 Aberfoyle 156 159 156 Ashton 170 185 175 AustDevI 84 85 85 BHPGold 22 30 x — Bendigo 4 5 5 nts 6 8 6 88 opt 10 — — 89 opt 400 405 405 Bougalnvl 98 99 99 CNGold 910 — 910 CRA 67 70 — CarrBoyd —— 39 38 CityRes 20 22 20 ConsRes 796 802 800 ConsRtle 60 63 63 DeltaG 35 40 35 89 opt 132 135 132 Dominion — 280 — ERA 250 — — EldersRs 315 320 320 Emperor 185 190 185 Forsayth 156 157 157 GMKalg 129 130 130 GiantRes 3 4 4 88 opt 160 180 — HH150 125 127 — JasonMin 16 17 — Jlana 30 38 36 KiaOra 395 400 395 Kidston 35 45 — Kitchener 10 16 — KiwiGold 198 200 199 MIM _■ 180 — MetalsEx 820 900 830 Metana 46 50 50 Moruya 375 380 375 Niugini 81 83 83 Noranda 335 337 336 NBH 45 46 46 NthKalg 800 830 — NthFlndr — 25 — Otter 215 —— 215 Pancont 72 75 72 Paragon 46 48 46 89opt 145 160 — Paringa 228 229 228 PlacrPac 225 230 225 Poseidon 124 125 125 QCTRes 960 970 962 RGC 650 670 — SnsGwlia 23 24 23 Spargos 40 45 — SthnPac 14 — — Technomin 10 11 11 TitanRes 3 5 5 89opt 620 622 620 WMC 100 105 — WalMin 245 248 245 WestSand 65 68 66 AOG 315 318 318 AmpolExp 29 30 29 Beach 91 92 92 Bridge 45 50 45 89opt 28 29 29 Claremont 135 150 — Crusader 18 —— — Cultus 168 170 170 Hartogen — 5 — Longreach — 320 , — Magellan 7 8 — Magnet 114 115 114 OilSch 128 130 130 PekoOil 2 3 — Petroz 425 430 425 Santos — 300 — Vamgas — 1100 — WeeksPet 185 187 185 Woodside

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