Aust, closes sharply higher

Press, 15 September 1988, Page 37

Aust, closes sharply higher

NZPA-AAP Sydney The Australian sharemarket closed sharply higher in fairly active trade, as local and overseas demand for blue chip industrials boosted the main index. One broker said there was renewed interest among institutions ahead of the U.S. July trade figures, which were expected to be improved. “Investors took a more positive attitude to trading, as they bought into oversold positions,” he said, adding that a fall in Tokyo, where the Nikkei Index had lost 12 points, had little effect on the local market. At the close of floor trading, the all ordinaries index had lifted 18.8 points to 1549.4. The all industrials index advanced 33.4 points to 2560.7, the gold marker 12.8 to 1638.4 and the all resources 8.0 to 791.4. National turnover was 80.23 M shares worth sAustlso.s4M as rises led falls by about nine to seven. Increased buying activity

boosted the industrials as John Spalvin’s Adsteam added 30c to 750, as did ICI to 730. Coles Myer lifted 25c to 1065, FAI 17 to 405, Brambles 20 to 1030 and Boral 9 to 479. BHP rose 4 to 804, Elders IXL 3 to 328, Bond Corp 3 also to 205. News Corp was steady at 1000, while Lend Lease lost 10 at 1380 and Industrial Equity 8 at 156. Fletcher Challenge rose 7c to 387 after its 50 per cent lift in profit for the June year. Ariadne rose 3c to 20 after news that Malcolm Edwards’ Essington Group had bought a 17.9 per cent stake in the company. Banks stocks were in high demand. Westpac soared 26c to 598, National Australia 20 to 680 and the ANZ 16 to 516. In the gold sector, Western Mining closed 6c up at 522, off its day’s high of 528. Elsewhere in the sector, Sons of Gwalia lifted 20c to 580, as did Renison to 900. Pan Australia Mining rose 15c to 400 and Metana 10 to 600, while Poseidon fell 5 to 190. The mining sector rose on firmer commodity prices. Comalco lifted 13c to 418, CRA 10 to 850, North Broken Hill 7 to 275 and MIM 2 to 175. But Australian Consolidated Minerals fell 5c to 275, as did Bougainville to 325. Energy stocks were mixed. Oil and gas giant Santos edged up 4c to 378, as did Ampol Exploration to 200, while AGL lost 3 to 220 and Hartogen was steady at 140.

Closing quotes Last Industrial Buy Sell sale ANI 198 200 198 91nts 475 500 475 96nts 350 — — ANZ 516 518 518 AWA 295 300 300 Acmex 132 150 — AdelStm 740 750 750 Alcan 230 — 230 Alkair 135 139 135 Alpha 22 25 — Amatil 850 856 850 B — 870 —

Amcor 468 470 469 ApexPac 80 84 — Argo 278 280 278 Ariadne 20 21 20 Arnotts 510 520 510 Arrowfeld 240 290 250 89opt — 100 — AFound 130 133 130 AustOvrs 31 33 31 BHP 804 808 804 BTGlobal 38 40 40 BTR 810 818 816 BankQld 330 — 332 BellG 205 — 200 pref — 900 — BellRes 162 165 163 Bisleyopt 2 10 —. Bond 205 206 205 BondMed 67 69 69 91 opt 5 6 — Boral 478 480 480 Brambles 1025 1030 1025 90nts 1050 1060 BrickP 407 430 420 Brierley 112 115 112 Bundaberg 265 270 265 Burns 335 337 335 CIG 480 500 480 CSR 466 467 465 Cadbury 342 348 348 Chase 89 91 90 ClayR 150 152 150 ClayRPT 37 38 — Clyde 118 122 120 CoalAll 470 475 — ColesM 1060 1070 1065 Comalco 415 418 416 CorpEqit 170 180 —- 91opt — 120 — Cortaus 4 5 6 Duke 26 27 26 EDunlop 240 250 240 Eastcourt 15 16 15 Elders 328 330 328 Elderss 285 290 285 Email 415 420 420 Equitcorp 47 52 48 EuroNat 65 70 — Expo 34 35 35 FAI 405 407 405 FinMet 65 68 — FCL 385 387 387 Fortuna 170 175 — GPT 265 267 265 Girvan 70 71 71 Goodman 235 238 238 H.D.F.I. — 15 15 Hanimex 250 285 285 Hardie 310 315 310 Helm 230 235 230 Hitek 105 107 107 Hooker 215 218 217 Humes 300 — 292 UProp i 1700 1725 ] 1725 ICI ’ 730 740 730 lELGrwth 105 138 — lELIncme 78 —- —

Imagin 135 140 140 IEL 155 156 156 InterPac 30 32 30 Intrchase 160 Jasco 220 — Jennings 250 270 250 JonesDav 920 930 930 JonesRbt 82 89 Jonray 80 90 — Kern 230 235 — Kimberley 60 80 — Lrchhill — 36 —— Leda 48 50 50 Leighton 1360 78 76 LLease 1380 1380 Mayne 710 712 712 McPherson 130 135 130 Memtec 180 185 182 NZI 89 92 90 Nat Aust 680 686 680 NatCons 262 265 265 NewsCorp 1000 1020 1000 OPSM 275 285 280 Oakbridge 25 26 25 PacDunlp 436 438 438 Parbury 70 100 — Peters 232 235 231 Pioneer 300 304 302 QBE 530 546 — Qintex 460 475 460 ReilCorp 180 188 — 92opt — 6 — Rothmans 880 900 900 Rothwells 35 38 — SmithHwd 355 370 360 SthnFarm 306 310 310 Stockbge 45 50 45 89opt 16 —— TAGPac 25 26 — TNT 455 457 455 Taylor 165 170 165 USMaster 55 58 — Union 550 — — Vapocure 10 11 — Vestcorp 45 — —— Viking 13 15 13 Walton — 25 — Wattyl 430 435 435 WestCptl 205 — 210 WfieldHl 290 320 320 WfieldTr 175 178 175 Westmex 135 140 138 Westpac 598 600 598 WfldCap 85 87 87 WilNeill 50 51 50 Woolworth 348 349 348 Wormaid 160 170 170 A.U.R. 31 34 31 ACMins 270 280 275 Aberfoyle 520 540 530 Ashton 126 127 126 AustDevl 240 245 245 BHPGold 64 65 65 Bendigo 15 20 nts 4 5 —— 88opt — 1 1 89opt 4 — 4

Bougainvl 318 325 325 CNGold 91 92 92 CRA 850 852 850 CityRes 35 38 37 ConsRes 11 16 11 ConsRtle —- 1000 — DeltaG 58 60 58 89opt 31 32 32 Dominion 135 145 142 ERA — 280 275 Emperor 431 435 435 Forsayth 252 255 255 GMKalg 148 154 148 GiantRes 99 100 100 88opt — 1. — HH150 170 — —— JasonMin 80 — 82 Jlana 12 20 —— Kidston 305 315 315 Kitchener 45 — —- KiwiGold 7 9 — MIM 174 175 175 Metals 145 180 — Metana 600 — 600 Moruya 35 45 40 Niugini 325 330 330 NBH 275 276 276 NthKalg 34 35 35 NthFlndr 690 740 — Otter 26 30 28 Pancont 150 152 152 Paragon. 67 70 67 89opt — 45 45 Paringa — 150 150 PionMin 68 69 69 PlacrPac 211 213 211 Poseidon 190 195 190 QCTRes 112 114 112 RGC — 900 900 SnsGwiia 576 590 580 Sparges 17 18 18 SthnPac —— 40 — Technomin 14 15 14 TitanRes 10 14 11 89opt 1 3 3 WMC 520 522 522 WalMin 135 138 135 WestSand — 260 — AOG — 65 — Ampol 196 198 198 Beach 25 28 —• Bridge 84 85 84 89opt 42 43 42 Claremont 27 28 27 Crusader 110 120 110 Cultus 26 — 27 Hartogen 140 145 140 Longreach 6 — 6 Magellan 225 230 230 Magnet 8 9 8 OilSch 80 84 81 PekoOil 128 130 128 Petroz 2 3 3 Santos 377 380 378 Vamgas 250 260 260 WeeksPet 700 1000 —— Woodside 158 160 160