FUTURES BSI 'eventful’
Barclays share index futures had an “eventful" day’s trading yesterday, closing at 1785 after rising as high as 1835, according to a dealer.
Dr Brent Layton, man-aging-director of Egden Wignall and Company Futures, said NZI Bank bought the market all the way up from its open at 1800 to 1835 in the morning, then sold it all the way down to 1785 in the afternoon.
He said about 160 lots of BSI futures were traded yesterday, of which about 90 were NZI Bank’s. BSI futures are now at a 25-point discount to the physical market at 1810, after closing at a 6-point premium on Tuesday.
The December Government stock futures con-
tract closed at 8608, the same level as yesterday, after reaching a high of 8616.
GSC trading was affected by rumours that the Prime Minister, Mr David Lange, had sacked the Minister of Finance’s press secretary, Mr Bevan Burgess, a dealer said. That rumour stopped people buying and sparked some selling, he said.
He said the morning’s trading saw the start of a good rally, but interest drifted off in the afternoon.
“It was really another rally attempt that didn’t get anywhere."
A total of 1401 lots of GSC futures were traded.
Details of yesterday’s futures and options trading were:
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Press, 8 December 1988, Page 28
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214FUTURES BSI 'eventful’ Press, 8 December 1988, Page 28
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