Bears plague Aust, market

Press, 23 November 1988, Page 45

Bears plague Aust, market

NZPA-AAP Sydney Bearish sentiment continued to plague the Australian sharemarket as stocks glided to their ninth consecutive fall. Brokers said buyers remained reluctant to come into the market amid high interest rates, while resource stocks took the brunt of a higher Australian dollar and easier base metals prices. At the close of floor trading the all ordinaries index had dropped 4.1 to 1478.8. The gold index fell 23.2 points to 1509.1, the all resources 6.1 to 749.7 and the all industrials 1.0 to 2452.2. National turnover was 77.43 million shares worth sAustl32.llM. Falls led rises by about two to one. Industrial Equity stole the limelight among industrials, adding 1c to 142 with news of its $3.65-a-share bid for Woolworths, which climbed 18c to 364.

AFP Group was one of the day’s most active stocks, lifting 2c to 114 as 443 M shares changed hands. Market leader BHP fell 2c to 706 in active trade, Elders IXL shed 3c to 275, Bell Group lost 13c to 85 and ICI fell 6c to 660. Banks were firmer. 2c

gains took Westpac to 560, ANZ to 530 and National Australia to 658. Other industrials to gain included News Corp, up 5c at 1015, as did Bell Resources to 140 and Coles Myer to 1005. Among gold stocks, Whim Creek slipped 18c to 192 and Broken Hill Metals dropped 15c to 160. 8c losses took Pan Australian to 410 and Emperor to 460, and Paragon Resources shed 6c to 34 in active trade. Giant Resources added 2c to 77 on volume of 2.62 M shares, mostly specials booked at 76, and Poseidon climbed 6c to 166. Among other miners, 8c losses took CRA to 808 and Comalco to 405, Bougainville Copper dropped 4c to 320 and MIM was 1c off at 172. Western Mining was steady at 490 as shares worth sAust7.2oM changed hands, as was North Broken Hill at 280 and Boulder Gold at 150. 5c losses in the energy sector took Crusader to 105 and Vamgas to 240. Ampol Exploration slipped 4c to 180 and Woodside Petroleum eased 1c to 190. Santos edged up 1c to 341, while AGL was steady at 210.

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 172 173 173 ANI 10.20 5.90 8.6 216 144 470 — 91nts 34.10 7.26 — 500 380 315 335 — 96nts 30.50 9.19 — 385 302 530 532 532 ANZ 25.00 4.70 9.7 568 332 252 255 255 AWA 10.50 4.12 37.0 340 185 120 133 — Acmex 10.00 8.33 19.4 155 100 556 560 556 AdelStm 38.00 6.83 5.5 780 400 270 250 Alcan 16.00 6.40 12.3 285 130 23 24 23 Alpha .50 2.17 32.9 26 12 860 870 860 Amatil 26.00 3.02 13.4 990 650 800 — 800 AmatilB 24.40 3.05 12.4 1000 700 446 450 450 Amcor 23.50 5.22 11.8 540 354 70 85 85 ApexPac 6.00 7.06 — 115 75 252 257 257 Argo 11.00 4.28 21.2 300 200 12 13 12 Ariadne — — — 52 12 500 520 516 Arnotts 17.00 3.29 19.0 564 400 276 342 276 Arrowfeld — — 12.8 350 200 100 — 100 opt — — — 200 90 138 — 140 AFound 5.75 4.11 26.6 155 102 30 31 30 AustOvrs 1.50 5.00 76.5 46 29 704 706 706 BHP 34.00 4.82 11.2 890 628 40 42 40 BTGlobal 3.00 7.50 — 48 30 842 846 844 BTR 20.00 2.37 26.9 980 600 360 363 360 BankQld 16.00 4.44 12.4 380 260 85 90 85 Bell 10.00 11.76 — 265 85 200 — pref 39.00 4.43 — 900 200 140 — 140 BellRes 12.50 8.93 — 190 97 174 177 177 Bond 14.00 7.91 2.2 235 149 40 41 41 BondMed 2.00 4.88 7.5 84 40 2 3 3 opt —— — — 12 2 349 350 349 Boral 19.50 5.59 10.9 522 325 1065 1070 1065 Brambles 32.00 3.00 13.4 1145 740 950 1150 — nts 30.75 2.67 — 1170 750 400 400 Brick 10.00 2.50 23.3 440 310 93 95 94 Brierley 7.80 8.30 7.0 190 94 260 — 260 Bundaberg 7.50 2.88 20.6 340 220 275 280 281 Burns 10.00 3.57 11.3 440 281 490 510 500 CIG 17.00 3.40 13.9 520 400 442 444 443 CSR 20.00 4.51 15.6 506 305 403 404 404 Cadbury 9.00 2.23 27.9 440 225 84 85 85 Chase 8.00 9.41 — 105 58 100 113 115 Clay 6.50 5.75 5.4 168 70 34 34 ClayRPT 2.07 6.09 16.4 40 32 145 — 150 Clyde 8.00 5.33 25.0 165 112 480 500 480 CoalAll 10.00 2.08 — 574 320 1000 1005 1005 ColesM 32.00 3.18 13.9 1125 570 400 405 405 Cbmalco 24.00 5.93 16.3 504 220 175 179 175 CorpEqlt 15.00 8.57 5.5 210 125 — 113 — opt — — — 140 13 7 105 110 105 Parbury 4.00 3.81 9.7 131 40 65 70 70 Paynter 6.00 8.57 4.5 105 65 — 101 101 nts 12.00 11.88 — 105 95 232 234 232 Peters 17.00 7.33 8.5 275 213 250 252 250 Pioneer 13.75 5.50 8.7 355 210 516 — 520 QBE 17.00 3.27 11.1 570 380 475 490 490 Qintex 15.00 3.06 6.5 500 410 182 185 182 Reil 3.00 1.65 6.0 245 150 2 3 — opt 92 — — — 19 1 950 960 950 Rothmans 26.00 2.74 13.2 980 640 370 385 370 SmithHwd 12.50 3.38 — 390 270 316 320 320 SthnFarm 10.00 3.13 9.1 510 275 — 30 26 Stockbge — — — 80 15 16 — opt — — —— 21 5 27 30 27 TAG 2.00 7.41 5.7 33 15 382 383 383 TNT 15.00 3.92 9.2 506 370 140 145 145 Taylor 10.00 6.90 — 215 135 62 65 62 USMaster — —— 38.8 65 50 — 600 — Union 24.00 4.00 10.8 620 450 20 21 — Vapocure — — — 30 10 20 23 23 Viking — — — 30 8 24 26 24 Walton — —— — 35 24 375 380 380 Wattyl 12.50 3.29 11.9 440 335 175 — — WestCptl — —— 20.4 230 140 308 310 308 WfieldHl 7.50 2.44 18.2 770 305 170 175 170 WfieldTr 17.30 10.18 9.8 198 163 125 125 Westmex 10.50 8.40 8.2 162 60 560 562 560 Westpac 33.00 5.89 6.0 790 450 78 82 80 WfldCap 1.00 1.25 15.4 97 45 74 75 74 WilNeill 3.00 4.05 17.6 75 35 362 365 365 Woolworth — — 5.5 365 200 192 194 192 Wormaid — — — 202 105 30 31 31 AUR 2.00 6.45 5.2 56 30 125 128 125 ACMins 7.00 5.60 7.7 465 118 540 550 540 Aberfoyle 5.00 .93 36.0 670 340 117 118 117 Ashton — — 9.1 182 100

210 230 — AustDevI 3.00 1.36 12.9 280 135 57 58 58 BHPGold —- — 22.1 105 58 17 20 — Bendigo — — — 70 16 20 21 21 Duke —- — — 46 3 275 285 — Dunlop 8.00 2.88 i— 278 220 8 10 — Eastcourt — — —— 55 6 274 275 275 Elders 19.00 6.91 6.9 365 270 250 254 253 EldersRs — — -w338 250 415 418 415 Email 17.00 4.10 13.7 460 23081 83 81 EuroNat — — 11.6 105 40 45 46 — Expo 6.00 13.33 3.0 54 32 335 346 348 FAI 8.00 2.31 4.5 590 348 50 63 55 FineMet — —- 6.9 106 55 340 342 340 Fletcher 19.50 5.74 7.3 450 339 180 185 — Fortuna 11.31 6.28 8.2 200 90 272 273 273 GPT 23.60 8.64 11.6 305 260 53 54 54 Girvan 4.50 8.33 4.2 88 42 214 215 214 Goodman 11.00 5.14 9.3 292 185 3 5 4 HDFI — — —— 85 3 286 295 285 Hanimex 15.00 5.24 6.8 295 125 238 240 240 Hardie 17.00 7.08 9.0 370 238 170 175 173 Helm 3.00 1.73 10.2 300 160 90 94 90 Hitek — —— 7.4 119 35 196 200 201 Hooker 15.00 7.50 5.4 257 168 1520 1550 1520 HProp — — — 1950 1520 650 660 660 ICI 36.00 5.45 10.9 740 400 106 — — lELGrwth 5.80 4.83 20.7 140 70 79 — — lELIncme 11.60 14.68 6.8 90 73 135 138 135 ImaginT 8.00 5.93 8.4 160 70 142 144 142 IndEquit 10.00 7.04 18.3 200 130 15 25 — InterPac — —— — 150 20 140 145 — Intrchase — — —■ 180 140 — 210 215 Jennings 10.00 4.76 8.9 280 175 660 672 670 JonesDav 42.00 6.27 6.7 960 520 — Jonray — —— — 90 80 212 218 212 Kern 6.00 2.83 17.5 272 150 — 64 — Kimberley — — —— 100 55 — 20 — Lrchhill 8.00 40.00 0.2 70 18 — 2 — opt — — . 10 1 48 53 — Leda 2.00 4.00 — 60 30 57 62 — Leighton 4.00 6.45 6.3 85 44 1005 — 1005 LLease 50.00 4.98 11.8 1525 1000 — 570 570 Mayne 24.00 4.21 12.4 736 435 120 122 120 McPhersn 7.50 6.25 9.2 140 110 160 165 160 Memtec 1.50 .94 32.0 300 150 53 55 53 NZI 8.19 15.45 — 186 52 654 662 658 NatAust 50.00 7.60 8.3 710 400 248 249 248 NatCons 18.00 7.26 4.8 310 215 1015 1020 1015 NewsCorp 9.00 .89 6.8 1445 976 — 242 240 OPSM 11.00 4.58 16.1 320 240 30 34 32 Oakbridg — — — 39 17 434 435 435 PacDunlp 14.50 3.33 12.5 485 352 — — — ctg — — — 28 2 1 5 — opt — — — 45 4 318 320 320 Bougainvl 33.35 10.42 9.6 440 270 74 75 74 CN Gold 4.00 5.41 9.4 140 70 808 810 808 CRA 36.00 4.46 19.4 984 447 72 — Carr Boyd 3.00 4.17 10.3 105 60 30 34 30 City Res 8.00 26.67 — 50 28 12 15 — Cons Res —• — — 28 2 960 970 960 Cons Rtle 52.00 5.42 10.6 1050 580

50 52 52 Delta — — — 70 22 28 30 28 opt — — — 44 8 124 125 125 Dominion 4.00 3.20 14.2 180 80 308 310 308 ERA 10.00 3.25 20.0 322 220 456 460 460 Emperor 20.00 4.35 14.4 476 205 240 242 242 Forsayth 8.00 3.31 10.1 325 140 132 139 132 GM Kalg 12.00 9.09 8.0 340 128 77 80 77 Giant Res — — 6.0 155 74 1 — opt — — — 16 1 185 — 185 Hill 50 — — 22.6 240 140 45 50 — Jason Min — —• — 315 48 8 — 10 Jlana — — — 25 10 290 295 291 Kidston 32.00 11.00 5.2 480 289 _ 42 41 Kitchener — — — 60 40 4 14 — Kiwi Gold — —— — 30 5 171 172 172 MIM 5.00 2.91 12.6 225 128 148 — 148 Metals Ex —- — — 200 140 542 550 546 Metana 25.00 4.58 9.9 1000 510 45 — Moruya — — — 65 25 — 230 230 Niugini — — 73.8 600 230 278 280 280 NBH 9.00 3.21 16.3 370 215 26 27 26 Nth Kalg — — 4.0 82 26 510 — Nth Flndr 50.00 9.80 8.0 940 500 31 32 — Otter — — 10.7 39 17 180 185 185 Pancont 2.50 1.35 13.8 240 140 32 35 34 Paragon — —— •— 88 34 25 — opt — — — 65 30 100 105 105 Paringa 17.60 16.76 4.0 220 100 63 65 65 Pion Min — — — 200 58 226 227 227 Placr Pac — — 31.5 280 122 165 166 166 Poseidon 10.00 6.02 13.8 275 158 114 115 115 QCTRes 5.82 5.06 19.8 132100 650 — 650 RGC 15.00 2.31 22.1 1030 580 570 — SnsGwlia 50.00 8.77 7.0 790 500 — 13 12 Spargos 1.00 8.33 — 38 12 28 29 — SthnPac — — — 60 14 12 13 — Technomin — —— — 23 10 5 10 — TitanRes — — — 20 6 1 3 — OPT —— —-- — 6 1 488 490 490 WMC 23.00 4.69 10.3 674 386 115 120. 115 WalMin — — —— 175 90 260 270 260 WestSand 8.00 3.08 18.8 280 125 55 58 56 AOG . — —— 16.2 85 55 178 180 180 Ampol — — 10.2 352 180 24 25 — Beach 1.00 4.17 8.4 36 22 90 91 91 Bridge — — 6.6 106 55 44 45 44 opt — —— — 57 18 26 27 26 Claremont — — —— 38 24 , 105 110 105 Crusader 2.50 2.38 25.6 155 100 —— 28 19 Cultus — — — 30 12 125 134 125 Hartogen — —— 16.2 200 125 3 4 — Longreach — — — 13 4 — 240 — Magellan — — 15.5 350 225 4 5 4 Magnet — — — 10 3 72 75 72 OilSch — — — 160 64 190 191 191 PekoOil — — 95.5 202 80 2 3 2 Petroz — — — 4 2 341 342 341 Santos 19.00 5.57 8.2 485 335 240 — 240 Vamgas 8.00 3.33 9.4 330 210 500 — — WeeksPet —— — 4.6 1120 700 190 191 190 Woodside — — 23.5 205 115