FUTURES Resource stocks spark tumble

Press, 13 September 1988, Page 27

FUTURES Resource stocks spark tumble

NZPA-AAP Sydney The Australian sharemarket closed sharply weaker as resource stocks tumbled in line with gold bullion price falls. By the close of floor trading the all ordinaries index had plunged 29.8 points to 1515.7 and the gold marker 85.2 points, or 5 per cent, to 1596.2. Brokers said trading was listless as institutions stayed on the sidelines on fears the market would fall further and in the absence of a firm lead from overseas markets. “The Australian market is marking time until the release of U.S. trade figures due out on Wednesday,” one broker said.

The all resources index fell 30.6 points to 772 and the all industrials 26.2 to 2508.3. National turnover was thin as 87.94 million shares worth sAustl2o.36M were traded. Falls outpaced rises by more than three to one.

Those hardest hit in the bearish trading included heavyweight miners CRA, which tumbled 40c to 820, and Western Mining, down 28c at 490. Elsewhere in the gold sector, Renison plunged 40c to 870, Metana 30c to 600, Emperor 25c to 420 and Placer Pacific 16c to 202. Kidston declined 15c to 320, Pan Australia Mining 13c to 360 and Sons of Gwalia 12c to 560.

Among other miners, Australian • Consolidated Minerals and North Broken Hill each dropped 60c to 280 and 260 respectively. Comalco fell 15c to 395, MIM 10c to 168 and Bougainville Copper 5c to

330. Among industrial stocks, News Corp slipped 30c to 980, BHP 18c to 792, Coles Myer 15c to 1035 and BTR Nylex 16c to 818. Elders IXL dropped 10c to 318, as did ICI to 680. Pacific Dunlop and Pioneer Concrete each eased 9c to 421 and 296 respectively. Bond Corp was steady at 205 c as was John Spalvin’s Adsteam at 710. Among the banks, National Australia fell 12c to 642, Westpac 4c to 566 and the ANZ 1c to 494. FAI Insurance, up 5c at 375, and Woolworths, up 1c at 341, were among the few stocks to rise. Energy stocks were weaker in line with falls in crude oil prices. Ampol Exploration dropped 12c to 196, Santos 9c to 366, Bridge Oil 5c to 86 and AGL 3c to 222.

Closing quotes Last Industrial Buy Sell sale ANI 193 200 193 91 nts 475 500 475 96 nts 350 380 — ANZ 494 496 494 AWA . 295 300 295 Acmex 130 135 135 AdelStm 700 710 710 Alcan 220 230 — Alkair 135 137 137 Alpha 20 21 20 Amatil 840 850 850 B • — 870 — Amcor 522 528 522 ApexPac 70 82 — Argo 275 276 '275 Ariadne 16 17 17 Arnotts 480 500 500 Arrowfeld 295 298 — AFound — 136 — AustOvrs 32 33 33 BHP 792 796 792 BTGlobal 40 44 -40 BTR 818 820 818 BankQld 330 335 — BellG 196 200 196 pref — 900 — BellRes 160 162 160 Bisley opt 2 10 — BondCorp 200 205 205

BondMed 68 69 68 91 opt 5 6 6 Bora! 456 457 457 Brambles 1000 1005 1005 90 nts 1040 1100 1040 BrickP 408 415 — Brierley 108 110 110 Bundaberg 250 265 265 BurnsP 330 331 330 CIG 500 510 500 CSR 450 452 452 Cadbury 348 350 350 Chase 85 90 88 ClayR 145 150 145 ClayRPT 37 38 37 Clyde 115 120 120 CoalAll 465 — ColesM 1030 1040 1035 Comalco 390 400 395 CorpEqit — 180 — 91 opt — 120 — Cortaus 3 4 4 Duke 27 30 27 EDunlop 240 260 240 Eastcourt 15 17 15 Elders 315 318 318 EldersRs 285 290 285 Email 410 420 410 Equitcorp 50 55 50 EuroNat 65 70 65 Expo 35 36 35 FAI 370 380 375 FinMet 65 73 — FCL 375 380 378 Fortuna 170 175 170 GPT 262 263 262 Girvan 70 71 71 Goodman 226 228 228 HDFI 15 19 — Hanimex 285 290 285 Hardie 295 305 300 Helm 221 225 225 Hitek 80 100 100 Hooker 216 217 216 Humes , 290 — — UProp 1700 1725 1725 ICI 682 690 680 lELGrwth 105 138 — lELIncme 78 — — Imagin 145 150 —- IEL 163 165 165 InterPac 30 32 30 Intrchase 160 162 — Jasco — 220 — Jennings 240 245 240 JonesDav 900 906 900 JonesRbt 82 91 — Jonray 80 90 — Kern. —— 235 —— Kimberley 60 80 — Lrchhill 30 36 — Leda 45 50 50 Leighton 75 78 — LLease 1410 1420 1420 Mayne 702 710 700 McPherson 135 —- 135 Memtec 185 190 190 NZI 86 88 — NatAust 642 644 642 NatCons 262 270 268

NewsCorp 980 986 980 OPSM 280 285 280 Oakbridge 23 25 — PacDunlp 421 422 421 Parbury 70 90 90 Peters 232 236 236 Pioneer 296 298 296 QBE 530 550 550 Qintex 460 475 —— ReilCorp 180 188 — 92 opt — 9 — Rothmans 870 900 880 Rothwells 35 38 38 SmithHwd 350 360 — SthnFarm 306 310 306 Stockbge 40 45 — 89 opt — 16 — TAGPac 25 26 — TNT 450 455 450 Taylor 165 170 165 USMaster 55 58 — Union 572 606 — Vapocure 11 — — Vestcorp 45 — — Viking 12 15 12 Walton — 28 — Wattl 430 435 430 WestCptl — 210 — WfieldHl —— 325 325 WfieldTr ' 178 180 180 Westmex 130 138 138 Westpac 566 570 566 WfldCap 87 — 90 WilNeill 50 51 50 Woolworth 342 344 344 Wormaid 173 175 175 AUR 34 37 36 ACMins — 290 280 Aberfoyle — 530 530 Ashton 131 134 134 AustDevl 230 240 230 BHPGold 64 65 65 Bendigo 18 22 18 nts 4 7 4 88 opt ' — 3 — 89 opt 4 — 4 Bougainvl 325 330 330 CNGold 85 87 87 CRA 818 820 820 CarrBoyd 65 72 70 CityRes 35 40 35 ConsRes 10 ——• 10 ConsRtle 980 — —■ DeltaG 56 58 56 89 opt 30 33 32 Dominion 135 140 140 ERA 280 290 290 Emperor 420 425 420 Forsayth 255 260 255 GMKalg 130 135 135 GiantRes 97 98 97 88 opt — 1 — Hill 50 170 — — JasonMin 80 88 80 Jlana 12 20 — Kidston 320 328 320 Kitchener 45 — — KiwiGold 7 9 — MIM 167 170 168 MetalsEx — 180 —•

Metana 610 620 600 Moruya 40 45 40 Niugi'ni — 340 337 NBH 255 265 260 NthKalg 29 30 30 NthFlndr 700 770 —— Otter 28 30 28 Pancont — 153 150 Paragon —— 70 70 89 opt —— 45 42 Paringa —-- 170 170 PionMin 68 70 68 PlacrPac 202 204 205 Poseidon 190 195 190 QCTRes 100 — 100 RGC 860 — 870 SnsGwlia 530 560 560 Spargos 17 18 — SthnPac — 40 — Technomin 14 15 — TitanRes 13 14 — 89 opt 3 4 — WMC 488 490 490 WalMin — 140 — WestSand — 270 — AOG — 67 67 AmpolExp 196 199 196 Beach 25 28 — Bridge 86 88 86 89 opt 45 46 46 Claremont 26 27 26 Crusader 100 120 — Cultus — 26 — Hartogen 140 150 — Longreach 6 — —* Magellan 225 240 225 Magnet 7 8 —- OilSch 68 70 68 PekoOil 125 135 130 Petroz 2 3 —— Santos 367 370 366 Vamgas 265 280 — WeeksPet 700 1000 —— Woodside 155 156 155