AUSTRALIA Market swings back

Press, 25 January 1989, Page 27

AUSTRALIA Market swings back

NZPA-AAP Sydney Strong overseas buying in resources stocks saw a turnaround in the Australian sharemarket after a weaker start.

The national market swung into the black from a 3.8 point deficit as improving metal prices sparked some offshore institutional interest, brokers said. "We fared better than expected following New York’s 17-point drop. Most people thought the local market would end up losing five or ten points,” one broker said. By the close of floor trading, the all ordinaries index was up 1.5 points at 1524.7.

The all industrials index crept ahead just 0.5 points at 2520.7, the all resources gained 2.0 to 778.1 and the gold marker, bolstered by strengthening bullion prices,

added 8.2 to 1506.3. National turnover was moderate with 74.18 million shares worth sAustlss.lsM traded. Rises slightly outnumbered falls by 185 to 163. Lend Lease Corp was one of the best industrial stocks, it increased 20 .to 1115 after news that its subsidiary MLC had abandoned its takeover offer for the Australian Bank. Brokers said Elders IXL was again a target for overseas investors. The stocks gained 2c to 294 Among the losers were CSR, down 4c at 432, BTR Nylex, down 2c to 914, David Jones, down 10c to 840 and First Abbott Corp, down 5c to 65. Bond Corp fell 4c to 161 and Adsteam 2c to 598. FAI was up 5c at 241 as 1.33 M shares traded while its rival QBE was steady at 510.

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 176 178 177 ANI 10.20 5.76 8.8 180 166 420 430 430 91nts 34.10 7.93 — 430 410 316 — — 96nts 30.50 9.65 — 320 310 544 546 544 ANZ 34.50 6.34 7.7 566 528 225 230 228 AWA 10.50 4.61 33.0 240 228 150 155 — Acmex 10.00 6.67 24.2 150 125 598 600 598 AdelStm 38.00 6.35 5.9 610 558 260 265 265 Alcan 16.00 6.04 13.0 275 265 24 25 24 Alpha 1.50 6.25 34.3 25 22 926 932 926 Amatil 30.00 3.24 13.8 936 870 830 — AmatilB 30.00 3.53 12.7 852 850 446 448 450 Amcor 23.50 5.25 11.8 475 448 90 110 105 ApexPac 6.00 5.71 — 115 96 239 240 240 Argo 11.00 4.58 23.1 241 228 15 17 15 Ariadne — — — 18 13 590 600 590 Arnotts 17.00 2.88 21.7 624 582 265 270 265 Arrowfeld — — 12.3 290 260 95 98 opt — — — 100 98 145 152 150 AFound 5.75 3.83 28.5 155 142 32 33 33 AustOvrs 1.50 4.55 94.1 33 28 748 750 748 BHP 34.00 4.55 11.9 754 706 46 47 — BTGlobai 3.00 6.38 — 47 46 914 916 914 BTRNylex 20.00 2.19 29.1 920 870 310 320 315 BankQld 16.00 5.08 12.2 315 310 165 170 — Bell 10.00 5.88 — 200 180 600 — — pref 39.00 4.43 — — — 133 135 133 BellRes 12.50 9.40 — 145 133 160 162 161 Bond 14.00 8.70 2.0 187 160 42 44 44 BondMed 2.00 4.55 8.0 44 42 4 5 — opt — — — 5 3 356 357 356 Bora! 19.50 5.48 11.1 368 347 1090 1095 1090 Brambles 32.00 2.94 13.7 1140 1080 1135 1150 —. nts 30.75 2.69 — 1165 1145 430 — — Brick 10.00 2.33 25.0 430 425 105 106 106 Brierley 7.40 6.98 8.3 108 98 270 272 — Bundaberg 7.50 2.78 21.4 280 265 289 290 290 Burns 10.00 3.45 11.7 295 280 410 420 — CIG 16.00 3.90 11.4 400 400 433 435 432 CSR 28.00 6.47 15.2 445 425 442 443 442 Cadbury 9.00 2.04 30.5 443 425 78 80 — Chase 7.00 8.75 —— 82 71 132 140 — ClayR 6.50 4.64 6.7 145 125 37 38 — ClayRPT 5.18 14.00 7.1 39 32 155 158 155 Clyde 8.00 5.16 25.8 155 145 465 475 470 CoalAlI 10.00 2.13 — 480 465 896 900 896 ColesMyer 28.44 3.17 14.0 910 848 408 412 410 Comalco 24.00 5.85 16.5 412 387 160 165 — CorpEqit 15.00 9.38 5.0 176 160 85 105 — opt —— — — — — 12 13 12 Duke — — — 16 12 305 — 305 EDunlop 8.00 2.62 -— 305 280 6 9 7 Eastcourt — — — 8 5 293 294 294 Elders 19.00 6.46 7.4 298 272 237 240 237 EldersRs — — — 245 228 420 427 427 Email 17.00 3.98 14.0 440 420 81 88 — EuroNat — — 11.6 81 80 — 40 — Expodd 4.00 10.00 2.6 40 40 243 247 245 FAI 8.00 3.27 3.2 256 218 51 55 51 FineMet — — 6.4 55 50 358 360 358 Fletcher 18.50 5.17 8.1 372 326 200 — —. Fortuna 10.73 5.37 9.6 200 200 272 273 272 GPT 24.00 8.82 11.3 278 268 57 58 58 Girvan 5.00 8.62 4.5 60 49 201 202 202 Goodman 11.00 5.45 8.8 203 196 5 6 6 HDFI — — — 8 5 315 — 310 Hanimex 15.00 4.76 7.5 310 300 268 269 268 HardieJ 18.00 6.72 10.1 270 248 144 145 145 Helm 3.00 3.07 8.5 150 130 65 70 70 Hitek — — 5.7 79 70 219 219 210 Hooker 15.00 7.14 5.7 212 200 1620 1650 1620 IlProp ■— — — 1655 1620 672 674 672 ICI 36.00 5.36 11.1 694 668 110 — — lELGrwth 5.80 4.83 20.7 — — 82 — — lELIncme 11.60 14.15 7.1 — — 133 135 — ImaginT 8.00 6.02 8.3 140 133 167 168 168 IndEquit 10.00 5.95 21.7 168 145 24 27 — InterPac — — — 26 18 157 160 155 Intrchase — — — 155 140 220 225 222 Jennings 10.00 4.50 9.4 222 199 840 846 840 JonesDav 42.00 5.00 8.4 850 726 205 208 205 Kern 6.00 2.93 16.9 210 195 60 60 Kimberley — — — 60 55 8 20 Lrchhill 8.00 6.67 0.1 12 12 50 51 50 Leda 2.00 4.00 —- 50 45 60 65 — Leighton 4.00 6.35 6.4 63 60

L100 1115 1110 LLease 50.00 4.50 13.1 1115 1020 570 572 570 MayneN 24.00 4.21 12.4 584 560 122 123 122 McPh’sn 7.50 6.15 9.3 125 115 138 142 140 Memtec 1.50 1.07 28.0 160 137 39 40 39 NZI 3.70 9.49 — 44 39 628 630 628 NatAust 50.00 7.96 7.5 658 610 280 282 282 NatCons 18.00 6.38 5.5 282 260 1055 1060 1060 NewsCorp 9.00 .85 7.1 1065 964 234 242 240 OPSM 11.00 4.58 16.1 262 230 30 33 — Oakbridge — — — 35 30 452 453 452 PacDunlp 14.50 3.21 13.0 475 448 90 90 Parbury 4.00 4.44 8.3 100 90 71 75 75 PayceCon 6.00 8.00 4.9 78 65 — 101 — nts 12.00 13.33 — 90 90 243 245 243 Peters 17.00 7.00 8.5 245 240 257 258 258 Pionlnt 13.75 5.33 8.9 272 245 516 520 510 QBE 17.00 3.33 10.9 510 492 350 400 390 Qintex 13.63 3.49 5.7 400 350 160 200 — ReilCorp 3.00 1.88 5.3 170 160 1 2 __ opt —— — — 950 970 950 Rothmans 26.00 2.74 13.2 980 950 340 345 345 SmithHwd 12.50 3.62 —— 365 335 340 342 340 SthnFarm 10.00 2.94 11.5 350 315 30 34 — Stockbge — — — 34 26 —— 16 —— opt — — — — — 25 28 — TAGPac 2.00 8.00 5.3 25 24 359 360 359 TNT 15.00 4.18 8.6 382 352 220 222 — Taylor 10.00 4.55 — 220 220 62 — — USMaster — — 40.0 64 64 15 20 — Vapocure — —— — 15 15 35 39 36 Viking — — — 43 28 475 490 480 Wattyl 12.50 2.60 15.0 500 430 180 185 185 WestCptl — — 21.6 195 180 286 288 286 WfieldHl 7.50 2.62 16.9 300 275 182 184 184 WfieldTr 17.30 9.40 10.6 187 177 133 134 134 Westmex 10.50 7.84 8.8 134 125 538 540 540 Westpac 33.00 6.11 5.7 552 516 78 80 78 WfldCap 1.00 1.28 15.0 78 75 72 74 74 WilNeill 3.00 4.05 17.6 74 68 361 370 361 Woolworth —— — 4.3 365 361 195 200 200 Wormaid — — — 200 180 30 32 31 AUR 2.00 6.45 5.2 32 30 135 138 135 ACMins 7.00 5.19 8.3 138 112 520 560 520 Aberfoyle 11.00 2.12 34.7 520 490 125 126 126 Ashton — — 9.8 128 116 175 190 180 AustDevl 3.00 1.67 10.6 220 170 ■ 54 55 55 BHPGold — — 21.0 58 50 7 8 7 Bendigo — — — 10 6 — 2 — ctg — —— — — — 1 3 — opt — —— — 1 1 288 290 288 Bougainvl 32.66 11.34 8.8 303 284 73 76 75 CNGold 4.00 5.33 9.5 76 67 874 876 876 CRA 36.00 4.11 21.1 882 770 70 — — CarrBoyd 3.00 4.29 10.0 70 62 26 27 26 CityRes 8.00 30.77 — 31 23 13 15 15 ConsRes — — . 15 12 1080 1125 1100 ConsRtle 52.00 4.73 12.1 1100 1030 42 44 43 Delta — — — 47 42 20 22 22 opt — — — 24 18 150 — 150 Dominion 4.00 2.67 17.0 150 136 322 — 322 ERA 10.00 3.11 20.9 322 318 466 470 470 Emperor. 20.00 4.26 14.7 470 430 198 — 198 Forsayth 9.00 4.55 15.2 210 187 99 101 99 GMKalg 12.00 12.12 6.0 115 82 68 69 69 GiantRes — —■ 5.4 74 66 190 — — HH150 — 23.2 190 190 — 35 35 JasonMin — — — 38 35 7 8 — J’lana — — — 9 5 250 253 253 Kidston 32.00 12.65 4.5 270 245 43 45 — Kitchener — — — 45 42 7 9 — KiwiGold — — —— 9 9 189 190 190 MIM 6.00 3.16 13.9 193 169 150 160 — MetalsEx — — — 150 148 485 490 490 Metana 25.00 5.10 8.9 504 485 38 40 — Moruya — — — 50 37 315 320 315 Niugini — — 75.0 345 260 265 266 266 NBH 9.00 3.38 15.5 277 251 27 28 28 NthKalg — — 4.3 28 22 470 480 480 NthFIndr 50.00 10.42 7.5 480 460 31 35 — Otter —— — 10.3 32 31 188 192 192 PancontM 2.50 1.30 14.3 193 174 — 28 — Paragon — — — 30 28 16 — — opt — — — 16 15 72 75 — Paringa 17.60 23.47 2.8 85 75 65 67 65 PionMin — — — 74 63 234 235 235 PlacrPac — — 32.6 236 210 240 241 24'3 Poseidon 10.00 4.17 20.0 240 222 108 110 110 QCTRes 5.82 5.29 18.9 114 108 700 710 710 RGC 15.00 2.11 24.1 720 630 520 — 530 SnsGwlia 50.00 9.43 6.5 530 460 12 13 12 Spargos 1.00 8.33 —- 14 12 45 46 46 SthnPac — -— — 57 33 6 7 7 Technomin — — — 7 7 8 10 — Titan — — — 8 8 — 1 — opt — — —— —— — 528 530 530 WMC 23.00 4.34 11.1 530 485 125 128 125 WalMin — — — 125 105 270 275 270 WestSand 8.00 2.96 19.6 275 250 65 66 — AOG — — 19.1 70 58 178 180 180 AmpolExp — ■— 10.2 182 160 23 24 24 Beach 1.00 4.17 8.4 24 21 92 94 92 Bridge — — 6.7 98 92 44 46 44 opt — — — 48 44 29 30 29 Claremont — — — 30 27 118 120 120 Crusader 2.50 2.08 29.3 130 118 21 25 25 Cultus — — — 25 18 — 130 — Hartogen — — 15.6 130 118 2 3 — Longreach — -— — 3 2 250 260 — Magellan — — 16.2 250 230 4 5 — Magnet — — — 4 4 72 74 72 OilSch — — — 80 68 2 3 3 Petroz — — — 3 2 362 363 362 Santos 19.00 5.25 8.7 362 326 245 — 250 Vamgas 8.00 3.20 9.8 250 220 850 900 — WeeksPet — — 5.5 900 800 194 195 194 Woodside — — 24.0 195 187