FUTURES GSK 'crazy'

Press, 9 November 1988, Page 45

FUTURES GSK 'crazy'

Mixed financial news caused a high volume of Government stock futures to be traded yesterday, a dealer said. He said investors bought GSK contracts on the back of comments by the Governor of the Reserve Bank, Dr Brash, at mid-day, sold with the announcement of monthly money aggregates showing consumer borrowing had increased, and bought again when Electricorp announced a bond offer of $lOO million at 3 p.m. “It was a pretty crazy day,” he said, especially when compared to dull futures trading on Monday. Elders Merchant Finance, Ltd, have become trading members of the New Zealand Futures Exchange, by acquiring the trading seat previously owned by FAS Macquarie, Ltd. Details of yesterday’s trading were.— SUS CONTRACTS Mth Open H/L Last Vol Nov 1.6080 080/969 5990 48 Dec 1.6121 121/121 6121 3 Contracts traded: 51 Open positions at November 7: Nov 397, Dec 184, Jan 8, total 589 (up 47). GOVERNMENT STOCK Mth Open H/L Last Vol Dec 8687 691/684 8686 1615 Mar 8700 701/698 8701 3 Contracts traded: 1618 Open positions at November 7: Dec 6677, Mar 14, total 6691

(down 127). 90-DAY BANK BILLS Mth Open H/L Gast Vol Nov 8578 582/575 8582 26 Dec 8585 590/580 8580 304 Mar 8610 610/610 8610 10 Contracts traded: 340 Open positions at November 7: Nov 132, Dec 1861, Jan 21. Mar 159, Jun 76, Sep 37, Dec 20, Mar 20, total 2326 (down 77). SYDNEY ALL-ORDS (half-points omitted) Prev. Mth close H/L Last Vol Dec 1534 570/526 1570 1414 Mar 1534 557/546 1557 10 Contracts traded: 1424 Open positions at November 7: 4231 (up 93). BARCLAYS SHARE INDEX Mth Open H/L Last Vol Dec 1975 996/970 1991 46 Contracts traded: 46 Open positions at November 7: Dec 109, total 109 (up 3).