AUSTRALIA Market easier after narrow trading

Press, 1 December 1988, Page 31

AUSTRALIA Market easier after narrow trading

NZPA-AAP Sydney The Australian share market closed easier after struggling in a five-point range all day, with activity in takeover stocks such as Cadbury-Schweppes providing the only highlights in otherwise dull trading. t One broker said there was steady overseas selling on the strength of the Australian dollar. He said there would not be any increase in buying interest until a more determined trend emerged, but this was unlikely before Christmas, particularly as institutions closed their books next week. At the close of floor trading the all ordinaries index was down 1.0 points to 1470.9. The all resources dropped 1.6 points to 743.3 and the gold marker 4.8 to 1505.1, while the all industrials was steady at 2442.8. National turnover was 87.56 million shares worth sAustl7o.B6M. Falls outnumbered rises by about nine to eight. Cadbury-Schweppes again stole the limelight among industrials, adding

6c to 435 as 6.59 million shares were traded above the cash bid of 425 by its British parent JN Taylor Holdings lifted 37c to 205, also above the 200 per share takeover offer by Bond Corp, which was steady at 175. Bell Group, up 10c to 110, said it would not accept Bond’s offer for its. 27.9 per cent stake in JN Taylor. Elsewhere among industrials, BHP dropped below the 700 mark falling 6c to 698, while News Corp gained 4c to 984. Heavy turnover continued in CSR, which lost 2c to 445 as 4.71 million shares were traded. AFP added 3c to 116 while Elders IXL slipped 5c to 274. Westmex rose 1c to 121 with news of plans to merge with its 70.9 per cent owned CAL Resources, which lifted 3c to 021. Among the banks, 2c rises took National Australia to 662, ANZ to 544 and Westpac to 562. Among miners, MIM shed 3c to 170 on volume of 3.21 million shares, and Bougainville Copper slipped 10c to 300. Miners to gain included Comalco, up 4c to 415, Western Mining, which lifted 3c to 479, and Pancontinental, 4c up at 182. In the gold sector, Metana added 10c to 530, Dominion rose 8c to 132 and North Flinders 5c to

445. Forsayth shed 10c to 215, Paringa 7c to 100 and Kidston 5c to 290. Two-cent gains among energy stocks took AGL to 212 and Vamgas to 242,' while Ampol Exploration fell 3c to 185 and Woodside Petroleum 4c to 185. Drillsearch was steady at 9c as another 1.50 million shares changed hands. At the close of computer trading the all ordinaries index was down 0.4 points to 1471.5. The all resources shed 1.2 to 743.8 and the gold marker 1.5 to 1508.5, while the all industrials edged up 0.8 to 2443.5. National turnover amounted to 131.87 million shares worth sAust292.43M as rises narrowly led falls.

Closing quotes Last Industrial Buy Sell sale ANI 165 168 165 91 nts 468 — 96 nts 315 332 — ANZ 542 548 544 AWA 245 247 245 Acmex 115 119 115 AdelStm 546 550 550 Alcan 250 270 — Alpha 22 23 — Amatil 882 886 886 AmatilB 800 — — Amcor 440 442 440 ApexPac 80 82 80 Argo 242 244 244 Ariadne 11 12 12 Arnotts 522 524 522 Arrowfeld 278 342 — opt 102 — 102 AFound 138 140 140 AustOvrs 31 32 — BHP 694 696 696 BTGlobal 40 46 — BTRNylex 858 860 860 BankQld 310 312 315

Bell 108 — 110 pf 200 — — BellRes 142 144 142 opt — 2 — BondCorp 172 173 175 BondMed 39 40 40 opt 3 4 3 Boral 344 345 344 Brambles 1055 1065 1060 nts 1080 1100 —— Brick 415 420 — Brierley 92 94 93 Bundaberg 260 268 260 Burns 278 280 279 CIG 480 500 — CSR 444 445 445 Cadbury 435 436 435 Chase 78 80 78 ClayR 120 125 125 CiayRPT 33 34 34 Clyde 135 145 140 CoalAll 478 482 480 ColesM 832 834 832 Comalco 415 418 418 CorpEqit 168 175 — opt —— 110 — Duke 20 21 23 EDunlop 275 280 — Eastcourt 8 9 — Elders 272 274 273 EldersRs 247 248 247 Email 410 414 414 EuroNat 80 85 81 Expo 42 45 45 FAI 342 345 343 FineMet 55 60 —— Fletcher 342 345 345 Fortuna 180 195 — GPT 268 270 270 Girvan 48 50 50 Goodman 208 210 208 HDFI 3 6 3 Hanimex 300 400 300 Hardie 253 256 258 Helm 162 164 164 Hitek 85 90 85 Hooker 202 204 202 UProp 1550 1580 1560 ICI 662 666 664 lELGrwth 106 — — lELIncme 80 —-- — Imagin 130 134 135 IndEquit 138 139 139 interPac 21 25 25 Intrchase 158 160 155 Jennings 198 200 200 JonesDav 700 706 702 Kern 212 — 212 Kimberley — 60 — 10 —— —

opt — 2 — Leda 48 50 — Leighton 58 60 — LLease 1010 —— 1010 Mayne 566 570 566 McPherson —— 125 125 Memtec 160 163 163 NZI 49 49 NatAust 662 664 662 NatCons 255 257 257 NewsCorp 984 986 984 OPSM 232 238 235 Oakbridge 33 35 34 PacDunlp 433 434 434 Parbury 105 110 108 Paynter 71 80 — nts —— 101 —— Peters 232 235 235 Pioneer 241 242 242 QBE 500 540 520 Qintex — 470 465 Reii — 210 — opts 2 3 — Rothmans 956 960 952 SmithHwd 372 380 375 Sthn Farm 310 315 310 Stockbge 32 33 32 opt — 16 —-- TAGPac 24 27 —— TNT 374 375 375 Taylor , 205 230 205 USMaster 63 65 — Vapocure — 20 —— Viking 21 22 21 Walton • 22 26 23 Wattyl 410 415 410 WestCptl 180 200 — WfieldHl 302 305 — WfieldTr 174 175 175 Westmex 120 121 121 Westpac 560 562 560 WfldCap 80 81 80 WilNeill 69 70 68 Woolworth . 361 362 361 Wormaid 190 192 190 AUR 30 32 30 ACMins 122 125 125 Aberfoyle 495 500 496 Ashton 113 116 115 AustDevl 200 210 — BHPGold 59 60 59 Bendigo 16 17 16 ctg — 5 — opt 1 4 — Bougainvl 296 300 300 CNGold 75 77 75 CRA 804 806 804 CarrBoyd 73 — 72 CityRes 29 30 30 16 17 16

ConsRtle 970 — —- ■ Delta 52 53 52 opt 28 30 —— Dominion 130 —— 132 ERA 315 320 —— Emperor 455 460 455 Forsayth 210 215 215 GMKalg 130 135 133 Giant 73 74 74 opt — 1 —- Hill50 185 — 190 JasonMin —- 48 — Kidston 290 295 290 Kitchener —• 45 —— KiwiGold 8 12 —- MIM 170 171 170 MetalsEx 146 — —■ Metana 530 550 530 Moruya 37 40 37 Niugini 210 220 210 NBH 263 265 262 NthKalg 25 26 26 NthFlndr 445 —— 445 Otter 31 32 31 Pancont 182 184 182 Paragon 36 — 37 opt 15 — — Paringa 95 103 100 PionMin 62 64 61 PlacrPac 232 233 232 Poseidon 212 .213 212 QCT 110 111 110 RGC 650 660 656 SnsGwlia 524 550 — Spargos 12 13 12 SthnPac 26 29 28 Technomin 12 14 — Titan 9 10 —— opt 1 2 —— WMC 479 480 479 WalMin 111 115 115 WestSand —— 260 —— AOG 56 58 58 AmpolExp 185 187 185 Beach 23 25 —— Brige 90 94 93 opt 44 45 45 Claremont 30 32 32 Crusader 110 130 — Cultus 18 24 18 Hartogen —— 120 — Longreach 3 4 — Magellan — 260 — Magnet 4 5 — OilSch 76 77 76 Petroz 2 3 2 Santos 333 335 334 Vamgas 240 242 242 WeeksPet — 650 600 Woodside 185 186 185