Buyers halt Australian sharemarket retreat

Press, 24 September 1988, Page 37

Buyers halt Australian sharemarket retreat

NZPA-AAP Sydney Australian shares closed higher yesterday as local and overseas buying returned. Brokers said the active selling in the last fortnight had been stemmed significantly, and there now was little

downside in the market. “Domestic buyers are seeing reasonable opportunities in the market and many traders believe the gold price is likely to have a short-term technical rally,” one broker said. At the close of floor trading the all-ordinaries index had lifted 9.7 points to 1551.3. The gold marker surged 44.6 points, or 2.8 per cent, to 1600.4. National turnover was 92.03 million shares, worth sAustl4s.6M. Rises just exceeded falls. Australian Consolidated Minerals, which announced a large restructuring plan and a takeover bid for Armada Resources, lifted the gold sector as it jumped 28c to 280. Armada rose 13c to 95. Elsewhere, Western Mining gained He to 504, Nuigini Mining 15c to 280 and Forsayth 15c also to 255. Placer Pacific rose 10c to 212, as did Pan Australia to 375. Gwalia Resources fell 5c to 160 and Emperor 3c to 415.

Leading mining stocks | were higher in the market’s improved sentiment. Bougainville Copper rose 12c to 335, Comalco 8c to 403, CRA 4c to 840 and MIM 2c to 178. Brokers said there w’as "no great excitement” among industrial issues, but the banks again boosted the sector. The ANZ added 8c to 540, Westpac 4c to 612, but National Australia fell 2c to 698. Losers among industrials included, News Corporation, down 10c at 1000, AWA, 5c at 320, Mayne Nickless, 6c at 718, and Adelaide Steamship, 2c at 734. FAI Insurances advanced 25c to 435. Others to gain were Coles Myer, up 10c at 1040, Lend Lease, 5c at 1145, Elders IXL, 5c at 343, and BHP, 2c at 810. Bond Corporation also rose 2c to 210. Among energy stocks, AGL slipped 5c to 215 and Peko Oil 1c to 175, but oil producer, Santos, edged up 1c to 360.

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 202 204 203 ANI 10.20 5.02 10.1 214 144 490 500 — 91 nts 34.10 6.96 — 500 380 350 —- — 98 nts 30.50 8.47 — 385 302 540 542 540 ANZ 25.00 4.63 9.8 546 332 319 320 320 AWA 10.50 3.28 46.4 340 185 125 132 130 Acmex 10.00 7.69 9.3 155 100 730 738 734 AdelStm 38.00 5.18 6.1 780 400 245 253 250 Alcan 16.00 6.40 12.3 285 130 135 139 —— Alkair — — 27.1 145 35 21 23 21 Alpha .50 2.38 30.0 26 12 850 858 858 Amatil 26.00 3.03 13.3 990 650 750 850 —— B 24.40 2.87 13.2 1000 700 485 490 490 Amcor 23.50 4.80 12.9 540 354 85 — — ApexPac 6.00 7.06 21.3 115 75 275 280 280 Argo 11.00 3.93 23.1 292 200 19 20 20 Ariadne — — —— 52 16 518 520 520 Arnotts 18.00 3.46 21.1 542 400 235 300 — Arrowfeid 10.00 4.26 10.1 350 200

100 — 89 opt — — — 200 90 133 135 133 AFound 5.75 4.32 25.2 155 102 31 33 32 AustOvrs 1.50 4.69 36.8 46 30 808 810 810 BMP 34.00 4.20 12.9 890 628 40 42 41 BTGlobal 3.00 7.32 — 43 30 808 810 810 BTR 20.00 2.47 25.8 980 600 340 350 — BankQld 15.00 4.41 15.0 340 260 200 205 200 BellG 10.00 5.00 — 265 130 — — — Pf 39.00 4.33 — 900 200 163 166 165 BellRes 12.50 7.58 — 190 97 2 4 — Bisley opt — — — 5 1 210 215 210 BondCorp 14.00 6.67 2.6 235 149 63 65 63 BondMed 2.00 3.17 11.5 84 45 4 5 — 91 opt — — — 12 4 382 383 383 Bora! 19.50 5.09 11.9 522 325 1050 1055 1055 Brambles 32.00 3.03 13.3 1085 740 1085 — — 90 nts 30.75 2.83 — 1130 750 410 415 410 BrickP 10.00 2.44 23.8 420 310 105 106 106 Brierley 7.80 7.36 5.1 190 100 265 266 — Bundaberg 7.50 2.83 21.0 340 220 340 344 344 BurnsP 10.00 2.91 11.4 440 330 ( 500 — — CIG 17.00 3.27 17.4 520 400 462 465 464 CSR 20.00 4.31 16.3 506 305 355 360 355 Cadbury 9.00 2.54 24.5 380 225 82 85 — Chase 7.50 9.15 3.8 105 58 157 160 157 ClayR 6.50 4.14 6.8 168 70 37 38 — ClayRPT 2.07 5.59 17.9 40 32 120 122 120 Clyde 8.00 6.67 20.0 165 112 480 485 480 CoalAll 12.00 2.50 9.6 480 320 1035 1040 1040 ColesM 32.00 3.08 14.4 1125 570 403 405 405 Comalco 24.00 5.93 16.3 504 220 — 170 165 CorpEquit 15.00 9.09 5.2 210 125 — 120 — 91 opt —- ——■ 140 13 5 6 — Cortaus — 1.2 13 3 26 27 26 Duke 4.00 15.38 13.0 46 3 245 255 250 EDunlop 8.00 3.20 — 275 220 — 11 — Eastcourt — — — 55 11 343 345 344 Elders 19.00 5.52 7.7 360 270 275 285 275 rts — —— 338 260 415 417 417 Email 16.00 3.84 13.7 460 230 48 50 48 Equitcorp 2.50 5.21 2.0 85 48 65 68 65 EuroNat — / — 9.3 105 40 — 35 35 Expo 6.00 17.14 3.4 50 34 430 436 435 FAI 8.00 1.84 5.6 590 362 65 68 68 FinMet — — 5.2 106 60 377 380 377 FCL 19.50 5.17 8.1 450 362 150 165 — Fortuna 11.31 6.85 7.5 200 90 265 270 270 GPT 23.60 8.74 11.4 305 260 68 70 — Girvan 2.00 2.94 5.2 88 42 242 243 242 Goodman 11.00 4.55 10.9 292 .185 8 10 — HDFI —— — — 85 12 250 260 260 Hanimex 15.00 5.77 6.2 295 125

300 305 300 Hardie 17.00 5.67 11.3 370 245 230 233 230 Helm — — — 300 160 91 100 100 Hitek — — 6.5 115 35 200 210 210 Hooker 15.00 7.14 5.7 257 168 250 290 —— Humes 13.00 4.48 14.8 300 200 1700 1725 1700 IlProp — — — 1950 1650 716 720 720 ICI 22.00 3.06 19.1 736 400 105 120 — lELGrwth 5.80 5.52 18.1 140 70 85 — — lELIncme 11.60 13.49 7.4 86 73 140 145 — Imagin 3.00 2.14 14.0 160 70 145 146 146 IEL 10.00 6.85 4.3 200 130 25 27 28 InterPac — — — 150 28 160 165 — Intrchase —. — — 180 160 200 220 — Jasco 2.50 1.14 12.4 230 150 245 250 — Jennings 10.00 4.08 10.4 280 175 926 930 926 JonesDav 42.00 4.54 7.4 960 520 85 90 90 JonesRbt 4.00 4.44 4.0 123 72 84 90 84 Jonray — —- —- 90 80 215 228 Kern 6.00 2.63 18.8 272 150 60 80 —- Kimberley — — — 100 55 — 30 — Lrchhili 8.00 26.67 0.4 70 18 1 — — 90opt — —— — 10 1 47 52 53 Leda 2.00 3.85 40.0 60 30 68 70 69 Leighton 4.00 5.80 7.0 85 44 1140 1145 1145 LLease 50.00 4.37 13.5 1525 1010 718 720 720 Mayne 24.00 3.33 13.1 736 435 133 135 135 McPhers 7.50 5.56 10.3 140 110 170 180 180 Memtec 1.00 .56 4.4 300 170 95 98 98 NZI 8.19 8.36 — 186 86 698 700 700 NatAust 30.00 4.29 10.4 710 400 263 265 265 NatCons 18.00 6.79 5.2 310 215 1000 1005 1000 NewsCorp 9.00 .90 6.7 1445 980 290 295 295 OPSM 11.00 3.73 18.0 ' 320 255 24 25 — Oakbridge — — — 35 17 437 438 437 PacDunlp 14.50 3.32 12.6 472 352 100 — — Parbury 4.00 4.00 — 100 40 235 240 235 Peters 17.00 7.23 8.6 275 213 292 294 294 Pioneer 12.50 4.25 9.9 355 210 400 475 — QBE 17.00 — — 570 380 470 475 470 Qintex 12.00 2.55 24.6 475 410 180 188 — ReilCorp 3.00 1.67 6.0 245 150 1 5 1 92opt — — —— 19 1 910 —— —— Rothmans 26.00 2.86 12.6 980 640 35 40 — Rothwells — — 100 35 360 — 370 SmithHwd 15.00 4.05 19.1 390 270 295 300 — SthnFarm 10.00 3.33 8.5 510 303 35 40 — Stockbge — — — 80 15 —— 16 — 89opt — — — 21 5 26 28 — TAGPac 2.00 7.69 6.8 30 15 464 465 464 TNT 15.00 3.23 9.3 493 370 170 175 — Taylor 10.00 5.88 — 215 140 55 57 — USMaster — — 74.7 65 50

590 606 — Union 24.00 4.04 10.7 620 450 13 — 13 Vapocure — — 30 10 16 17 17 Viking — — 17.0 20 8 27 — Walton — —— —— 35 24 420 425 420 Wattyl 12.50 2.98 13.1 440 335 —— —O —- WestCptl 2.00 .95 21.8 230 140 320 334 334 WfieldHl 7.50 2.25 19.8 770 320 172 173 173 WfieldTr 17.30 10.00 10.0 198 163 140 142 142 Westmex 10.50 7.39 8.9 162 60 610 612 612 Westpac 30.00 4.90 9.9 790 450 82 82 WfldCap 1.00 1.22 15.8 97 45 50 51 50 WilNeill 2.50 5.00 8.9 56 35 347 350 348 Woolworth — —— .6 360 200 160 165 165 Wormaid — —— — 202 105 31 37 30 AUR 2.00 6.45 5.2 56 30 270 275 280 ACMins — — 17.7 465 245 520 530 520 Aberfoyle 5.00 .96 34.7 670 340 127 128 128 Ashton — — 10.0 182 100 275 280 275 AustDevl — — — 280 135 65 66 66 BHPGold — —— 25.2 105 60 21 25 25 Bendigo — —■ — 70 16 4 3 nts — —— 28 3 4 — 88opt —. — — 70 ' 1 4 — — 89opt — — — 45 4 330 335 335 Bougainvl 33.12 9.89 10.1 440 270 88 90 89 CNGold 4.00 4.49 11.3 140 79 838 840 840 CRA 19.00 2.26 20.2 984 447 67 — 70 CarrBoyd 6.00 8.57 10.0 105 60 30 31 30 CityRes 8.00 26.67 — 50 28 12 14 — ConsRes — —— — 28 2 950 970 — ConsRtle 52.00 5.36 10.7 1050 580 52 54 54 Deltag — — — 70 22 26 30 29 89opt —— — — 44 8 138 140 140 Dominion 4.00 2.86 15.9 180 80 265 265 ERA 10.00 3.77 17.2 310 220 415 418 415 Emperor 20.00 4.82 8.3 450 205 255 260 255 Forsayth 8.00 3.14 10.6 325 140 150 152 150 GMKalg 24.00 16.00 5.3 340 131 92 93 92 GiantRes — — — 155 75 —— 1 —— 88opt — - 16 1 165 1 ■ Hiil50 — —- 20.7 240 140 80 85 85 JasonMin — — — 315 80 13 15 — Jiana — — —— 25 14 305 308 305 Kidston 32.00 10.49 5.4 480 289 — — — Kitchener — — — 60 40 6 7 — KiwiGold — — — 30 5 177 179 178 MIM 5.00 2.81 13.0 225 128 180 150 MetalsEx — —■ 88.2 200 145 520 526 526 Metana 20.00 3.80 14.6 1000 510 36 40 — Moruya — — — 60 28 275 280 280 Niugini — — 33.3 600 250 267 268 268 NBH 9.00 3.36 15.6 370 215 33 34 33 NthKalg 1.99 6.03 5.0 82 30 550 700 — NthFlndr 50.00 9.09 8.6 940 550 24 — — Otter — — 9.3 39 18 140 144 140 Pancont 2.50 1.79 10.4 240 140 70 72 72 Paragon — — —— 88 65 42 — — opt —- —— — 65 40 135 140 — Paringa 8.80 6.29 1.2 220 100 62 66 65 PionMin — — — 200 65 210 212 211 PlacrPac 1.50 .71 29.3 280 122 190 192 190 Poseidon 10.00 5.26 12.7 275 182 120 122 120 QCTRes 5.82 4.85 20.6 130 100 — 650 —— RGC 15.00 —■ — 1030 580 550 560 — SnsGwiia 50.00 9.09 6.7 790 500 17 18 18 Spargos 1.00 5.56 — 38 17 32 — 33 SthnPac — — — 60 25 13 15 — Technomin —— —. — 23 13 11 12 —- TitanRes — — —— 20 7 1 3 — 89opt — — —— 6 1 502 504 504 WMC 23.00 4.56 10.5 674 386 125 —. 125 WalMin — — — 175 90 245 — 245 WestSand 8.00 3.27 17.8 280 125 55 58 58 AOG — — 7.6 85 55 218 220 218 Ampul — — 12.4 352 194 25 28 — Beach 1.00 4.00 8.8 36 25 85 86 86 Bridge — 6.2 106 55 43 45 43 89opt —— — — 57 18 30 31 30 Claremont — —— —• 38 24 115 120 120 Crusader 2.50 2.08 29.3 155 100 20 25 — Cultus — — — 30 12 135 140 — Hartogen — — 17.5 200 135 4 — — Longreach — —— — 13 4 240 — — Magellan — — 66.1 350 225 7 8 7 Magnet — — 10 5 84 85 84 OiiSch — — 160 64 175 177 175 PekoOil — 87.5 177 80 2 3 — Petroz — — — 4 2 359 360 360 Santos 19.00 5.28 8.7 485 356 250 260 250 Vatngas 8.00 3.20 9.8 330 210 700 1000 — WeeksPet — — 6.5 1050 950 170 172 172 Woodside — — 21.2 200 115