Domestic buying boosts Australia

Press, 14 September 1988, Page 45

Domestic buying boosts Australia

NZPA-AAP Sydney The Australian sharemarket closed stronger as domestic buying boosted some recently oversold stocks, brokers said. They said some early overseas selling dried up during the day and local buyers cautiously returned to the market. One broker said local investors were becoming a bit more comfortable with the direction of the market after its recent steep decline. “There’s a general feeling that this week might be better than last week,” he said. At the close of floor trading, the all ordinaries index had risen 13.3 points to 1530.5. The gold marker advanced 26.1 points, or 1.6 per cent, to 1623.9 as it began to recoup some of Monday’s heavy losses. The all industrials rose 17.2 to 2527.7 and the all resources 10.1 to 782.9. National turnover was a thin 67.19 M shares worth sAustlll.79M as falls led rises by about four to three.

Heavyweight miner Western Mining boosted the gold sector as it rose 26c to 560. Brokers said the gain was a much needed correction to an oversold stock. Elsewhere among gold stocks, Placer Pacific added 11c to 212 and Poseidon 5c to 195. Metana slipped 20c to 590, Emperor 15c to 420 and Sons of Gwalia 13c to 315. Among other miners, CRA rose 20c to 840, while Comalco and MIM each added 5c to 173 and 395 respectively. Bougainville Copper was steady at 330, as was Australian Consolidated Minerals at 280. Leading industrial stocks gained from the buying activity. News Corp advanced 16c to 996, Boral 13c to 470, BHP 10c to 800 and John Spalvin’s Adsteam 10c to 720. FAI Insurance rose 13c to 388, CSR 11c to 463, Mayne Nickless 10c to 712 and Elders IXL 8c to 326. However, Lend Lease fell 20c to 1400,

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 195 198 195 AN! 9.60 492 10.5 214 144 475 500 91nts 34.10 7.18 — 500 380 350 380 — 96nts 30.50 8.47 — 385 302 498 500 500 ANZ ■ 25.00 5.00 9.1 512 332 295 300 297 AWA 10.00 3.37 — 300 185 132 150 . Acmex 10.00 7.41 9.7 155 100 720 720 AdelStm 36.00 5.00 5.5 760 400 225 230 Alcan 16.00 6.96 11.3 285 130 137 139 137 Alkair — — 26.8 145 35 20 21 ■— Alpha — — 10.5 26 12 846 860 850 Amatil 26.00 3.06 13.2 990 650 870 B 24.40 2.80 13.5 1000 700 470 472 470 Amcor 23.50 5.00 12.3 540 354 80 84 80 ApexPac 6.00 7.50 20.0 115 75 275 280 275 Argo 11.00 4.00 22.7 292 200 17 18 17 Ariadne — — — , 52 16 490 510 — Arnotts 18.00 3.60 20.3 542 400 240 290 290 Arrowfeld 10.00 3.45 12.5 350 200 — 89opt — — — 200 90 134 133 AFound 5.75 4.32 25.2 155 102 30 32 32 AustOvrs 1.50 4.69 36.8 46 30 800 802 800 BHP 32.00 4.00 12.7 890 628 38 40 38 BTGlobal 3.00 7.89 — 43 30 790 816 818 BTR 20.00 2.45 26.0 980 600 330 — BankQld 15.00 4.55 14.6 335 260

. 200 — 200 BeliG 10.005.00 — 265 130 — 900 — pref 39.00 4.33 — 900 200 160 162 160 BellRes 12.50 7.81 -— 190 97 2 10 — Bisleyopt — — — 5 1 200 202 205 BondCorp 14.00 6.93 2.5 235 149 68 69 — BondMed 2.00 2.94 12.4 84 45 5 6 — 91opt — — — 12 4 470 472 472 Bora! 19.50 4.13 12.3 522 325 1000 1010 1010 Brambles 32.00 3.17 12.7 1085 740 1040 1100 — 90nts 30.75 2.96 — 1130 750 409 415 408 BrickP 10.00 2.44 23.8 420 310 107 108 108 Brierley 7.80 7.22 5.2 190 100 250 265 265 Bundaberg 7.50 2.83 21.0 340 220 330 335 332 Burns 10.00 3.01 11.0 440 330 — 500 495 CIG 17.00 3.43 16.6 520 400 460 — 463 CSR 20.00 4.32 16.3 506 305 348 350 350 Cadbury 9.00 2.57 24.1 380 225 86 90 90 Chase 7.50 8.33 4.2 105 58 — 145 145 ClayR 6.00 4.14 8.2 168 70 37 38 — ClayRPt 2.07 5.59 17.9 40 32 118 120 118 Clyde 8.00 6.78 19.7 165 112 465 470 470 CoalAll 12.00 2.55 9.4 480 320 1040 1045 1040 ColesM 24.00 2.31 21.5 1125 570 401 405 400 Comalco 24.00 5.99 16.2 504 220 170 185 — CorpEqit 15.00 8.47 5.5 210 125 —— 120 — 91opt — — — 140 13 4 6 — Cortaus — — 1.0 13 3 26 27 27 DukeGrp 4.00 14.81 13.5 46 3 240 250 — EDunlop ■ 8.00 3.33 — 275 220 15 17 — Eastcourt — — — 55 II 325 327 325. Elders 19.00 5.85 7.2 360 270 280 285 285 EldersRs — — — 338 260 410 420 412 Email 16.00 3.88 13.6 460 230 49 53 50 Equitcorp 2.50 5.00 2.1 85 50 65 70 65 EuroNat — —— 9.3 105 40 35 36 — Expo 6.00 17.14 3.4 50 35 385 388 388 FAI 8.00 2.06 5.0 590 362 65 70 — FineMet — — 5.4 106 60 378 380 380 Fletcher 19.50 5.13 10.0 450 362 170 175 170 Fortuna 11.31 6.65 7.7 200 90 263 — 265 GPT 23.60 8.91 11.2 305 260 70 71 71 Girvan 4.00 5.63 88.8 88 42 230 235 230 Goodman 11.00 4.78 10.4 292 185 15 18 15 HDFI — — — 85 15 285 299 285 Hanimex 15.00 5.26 6.8 295 125 308 310 308 HardieJ 17.00 5.52 11.6 370 245 225 239 230 HelmCorp 2.00 .87 57.5 300 160 100 105 105 Hitek , — 95.5 115 35 217 219 217 Hooker 15.00 6.91 5.9 257 168 290 — Humes 13.00 4.48 14.8 292 200 1700 1725 1725 UProp — ,— — 1950 1650 700 706 700 ICI 22.00 3.14 18.6 722 400 105 138 — lELGrwth 5.80 5.52 18.1 140 70 78 — — lELIncme 11.60 13.49 7.4 86 73 140 145 145 ImaginT 3.00 2.07 14.5 160 70 164 165 164 IndEquit 10.00 6.10 4.9 200 130 28 30 30 InterPac — — — 150 28 160 — 160 Intrchase — — — 180 160 220 — Jasco 5.00 2.27 13.6 230 150 242 245 240 Jennings 10.00 4.13 10.3 280 175 910 920 906 JonesDav 36.00 3.96 4.5 960 520 82 91 91 JonesRbt 4.00 4.40 4.0 123 72 80 90 — Jonray — — — 90 80 225 235 235 Kern 6.00 2.55 19.4 272 150 60 80 — Kimberley — — — 100 55 — 36 — Lrchhill 8.00 26.67 0.4 70 18 — — — opt90 — — — 10 1 45 50 — Leda — — 45.9 60 30 75 78 — Leighton 4.00 5.26 7.7 85 44 1380 1390 1390 LLease 50.00 3.60 14.9 1525 1010 708 712 708 MayneN 24.00 3.39 12.8 712 435 130 135 135 McPhesn 7.50 5.56 10.3 140 110 185 190 — Memtec 1.00 .53 4.6 300 190 87 — 86 NZICorp 8.19 9.41 — 186 86 656 660 660 NatAust 30.00 4.55 9.8 666 400 263 268 268 NatCons 18.00 6.72 5.2 310 215 996 1000 1000 NewsCorp • 9.00 .90 6.7 1445 980 275 285 280 OPSM 11.00 3.93 15.7 320 255 23 24 24 Oakbridge — — — 35 17 430 434 433 PacDunlp 14.00 3.23 13.4 472 352 70 100 90 Parbury 4.00 4.44 — 100 40 232 233 233 PetersSl 17.00 7.30 8.5 275 213 296 298 297 PioneerC 12.50 4.21 10.0 355 210 530 546 — QBE 17.00 3.11 9.8 570 380 460 470 460 Qintex 12.00 2.61 24.1 475 410 180 188 — ReilCorp 3.00 1.67 6.0 245 150 — 8 — opt92 — — — 19 6 870 900 880 Rothmans 26.00 2.95 12.2 980 640 35 38 35 Rothwells — — — 100 35 350 360 355 SmithHwd 15.00 4.23 18.3 390 270 306 310 306 SthnFarm 10.00 3.27 8.7 510 303 40 45 — Stockbge — — — 80 15 — 16 — opt 89 —• — — 21 5 25 26 25 TAGPac 2.00 8.00 6.6 30 15 453 455 455 TNT 15.00 3.30 9.1 493 370 165 170 165 Taylor 10.00 6.06 — 215 140 55 58 — USMaster —- . 73.3 65 50 550 — — UnionC 24.00 4.04 10.7 620 450 10 11 10 Vapocure — — — 30 10 45 — — Vestc dd — —— 2.2 45 30 12 15 15 Viking — — 15.0 20 8 — 28 — Walton — —■ — 35 24 430 432 430 Watty! 12.50 2.91 13.4 440 335 210 — WestCpti 2.00 .95 21.8 230 140 290 320 320 WfieldHl 7.50 2.34 18.9 770 320 172 178 178 WfieldTr 17.30 9.72 10.3 198 163 136 140 138 Westmex 10.50 7.61 8.6 162 60 570 574 572 Westpac 30.00 5.24 9.3 ■ 790 450 89 92 90 WfldCap 1.00 1.11 17.3 97 45 50 51 50 Wiln dd 2.50 5.00 8.9 56 35 347 350 347 Woolworth — — .3 356 200 170 172 170 Wormaid — — 6.3 202 105 34 36 34 AUR 2.00 5.88 5.7 56 32 275 280 280 ACMins — — 18.1 465 265

514 520 526 Aberfoyle 5.00 .96 34.7 670 340 130 132 130 Ashton —— — 10.2 182 100 240 242 240 AustDevl — — — 250 135 65 66 66 BHPGoId —_ — 25.2 105 65 18 20 20 Bendigo — — — 70 18 4 5 — nts — — — 28 3 1 — 88 opt — — — 70 2 4 4 89 opt — — — 45 4 325 330 330 Bougainvl 33.12 10.04 10.0 440 270 880' 89 88 CNGoid 4.00 4.55 11.1 140 79 838 844 840 CRA 19.00 2.26 20.2 984 447 65 72 — CarrBoyd 6.00 8.57 10.0 105 60 35 40 35 CityRes 8.00 22.86 — 50 28 11 16 — ConsRes — — — 28 2 980 — — ConsRtle 52.00 5.20 11.0 1050 580 57 62 56 DeltaG — — — 70 22 31 32 33 89 opt — — —— 44 8 135 142 140 Dominion — — — 180 80 — 290 285 ERA 10.00 3.51 18.5 310 220 416 420 420 Emperor 20.00 4.76 8.4 450 205 252 255 252 Forsayth 8.00 3.17 10.5 325 140 135 140 140 GMKalg 24.00 17.14 4.9 340 131 96 100 96 GiantRes — — — 155 75 — 1 — 88 opt — — — 16 1 170 — — Hill50 — — 21.3 240 140 80 88 80 JasonMin — — — 315 80 12 20 — Jlana — — — 25 14 310 315 315 Kidston 32.00 10.16 5.6 480 315 45 — — Kitchener —— — 60 40 7 9 — KiwiGold — —— 30 8 172 173 173 MIM x 5.00 2.89 12.6 225 128 145 180 — MetalsEx —— -— 85.3 200 145 580 600 590 Mentana 20.00 3.39 16.41000 590 35 45 40 Moruya — — — 60 28 330 340 330 Niugini — — 92.9 600 330 267 272 272 NBH 9.00 3.31 20.6 370 215 33 34 34 NthKalg 1.99 5.85 5.2 82 30 700 730 — NthFIndr 50.00 6.85 11.4 940 550 28 30 28 Otter — — 9.3 39 18 138 142 140 Pancont 2.50 1.79 10.4 240 140 67 70 — Paragon — — — 88 65 — ' 45 — 89opt — — — 65 40 —. 155 — Paringa 8.80 5.68 1.4 220 100 69 70 70 PionMin — — — 200 65 211 212 212 PlacrPac 1.50 .71 29.4 280 122 190 195 195 Poseidon 10.00 5.13 13.0 275 185 108 — 108 QCTRes 5.82 5.39 18.6 130 100 880 900 — RGC 15.00 1.70 22.4 1030 580 554 560 560 SnsGwlia 50.00 8.93 6.9 790 500 17 18 17 Spargos 1.00 5.88 — 38 17 35 40 — SthnPac — — — 60 25 14 15 — Technomin — — — 23 13 10 14 13 TitanRes — — — 20 7 3 4 3 89opt — . — — 6 1 514 516 516 WMC 23.00 4.46 10.8 674 386 135 138 135 WalMln — — —- 175 90 —— 260 250 WestSand 8.00 3.20 18.1 280 125 64 65 65 AOG — — 8.6 85 55 190 196 195 AmpolExp — — 11.1 352 194 25 28 — Beach 1.50 6.00 9.3 36 25 84 85 85 Bridge — — 6.2 106 55 38 43 42 89opt — — — 57 18 26 27 26 Claremont 3.50 13.46 8.7 38 24 110 120 — Crusader 2.50 2.08 29.3 155 100 26 — Cultus — — — 30 12 140 145 140 Hartogen — — 18.2 200 140 6 — 6 Longreach — — ■— 13 4 230 240 230 Magellan — — 63.4 350 225 7 8 — Magnet — — — 10 5 70 75 70 OiiSch — — — 160 64 120 130 128 PekoOil — 64.0 160 80 2 3 3 Petroz — — — 4 2 370 374 374 Santos 19.00 5.08 9.0 485 360 250 260 260 Vamgas 8.00 3.08 10.2 330 210 700 — — WeeksPet — —— 6.5 1050 950 156 160 156 Woodside — — 19.3 200 115