AUSTRALIA Deficit still lingers

Press, 18 February 1989, Page 28

AUSTRALIA Deficit still lingers

NZPA-AAP Sydney The Australian sharemarket closed easier as stocks struggled to regain losses from yesterday’s 28point slide, brokers said; Leading stocks dominated turnover as the current account deficit' blowout continued to dampen enthusiasm in the interest-rate sensitive industrial sector, but the resource index was steady on the lower currency. “The market is just acting more responsibly today and on a fundamental analysis, looks very good value,” one broker said. At the close of floor trading, the all ordinaries index had fallen 2.9 points to 1448.3. The all industrials index dropped 7.7 points to 2430.7 and the gold marker 5.5 to 1390.7. The all resources edged up 0.4 to 714.9. About 70.94 million shares worth 191.93 M dollars were traded nationally, as falls led rises

by about 10 to seven. Among industrials, market leader BHP led turnover with trade of 4.66 M shares, adding 2c to 684.

Brambles recovered some of yesterday’s 40c slide to gain 25 to 1055, but David Jones slipped 18 to 830 and Lend Lease 15 to 1020. Tencent falls took Bell Group to 165 and TNT to 320, while Fletcher Challenge and Pacific Dunlop each rose 10 to 380 and 436 respectively.

The banks were under pressure from profit-taking. National Australia slipped 12c to 620, ANZ 8 to 520 and Westpac 4 to 526 in trade of 2.96 M shares. Challenge Bank defied the trend to add 5c to 410.

One broker said there was good support for Boral, up 2c to 330, and CSR, steady at 404 as 1.71 M shares were traded.

Gold miners mostly fell on the easier bullion prices. Tencent falls took Barrack Mines to 340, Emperor to 450

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 162 165 165 ANI 10.20 6.18 8.2 180 160 425 460 430 91nts 34.10 7.93 — . 430 410 290 — — 96nts 30.50 9.68 — 320 310 518 520 520 ANZ 34.50 6.63 7.3 566 520 225 230 225 AWA 10.50 4.67 32.6 242 225 145 150 150 Acmex 10.00 6.67 24.2 155 125 594 596 596 Adel Stm 38.00 6.38 5.9 630 558 — 270 — Alcan 20.00 7.41 4.5 285 265 26 27 27 Alpha 1.50 5.56 38.6 27 22 908 — 910 Amatil 30.00 3.30 13.6 960 870 860 — —. Amatil B 30.00 3.49 12.8 852 850 420 430 420 Amcor 23.50 5.60 11.0 475 420 112 115 112 Apex Pac 6.00 5.36 — 115 96 234 235 235 Argo 11.00 4.68 22.7 247 228 16 17 16 Ariadne — — — 18 13 558 560 560 Arnotts 17.00 3.04 20.6 624 550 270 275 270 Arrowfeld — —— 12.5 290 230 80 90 —— opt —• — — 100 95 148 150 147 AFound 6.00 4.05 28.1 155 142 34 35 34 Aust Ovrs 1.50 4.41 — 34 28 682 684 684 BMP 34.00 4.97 10.9 756 678 53 55 53 BT Global 7.00 13.21 — 53 46 868 876 868 BTR Nyl 20.00 2.30 27.6 930 866 322 325 — Bank Qld 16.00 4.97 12.5 325 310 170 175 165 Bell G 10.00 5.88 —— 200 155 —— — — pref 39.00 4.43 — —— — . 118 120 116 Bell Res 12.50 10.59 —— 145 115 — 1 — Bisley opt — — —— 1 1 165 170 165 Bond Corp 14.00 8.48 2.1 187 155 — 41 41 Bond Med 2.00 4.88 7.5 44 40 2 3 — opt — — — 5 2 328 329 329 Boral 19.50 5.93 10.3 368 326 1040 1050 1050 Brambles 32.00 3.05 13.2 1140 1030 1100 . — 1160 90nts 30.75 2.65 — 1165 1145 412 420 412 Brick P 10.00 2.43 24.0 ■465 412 115 116 115 Brierley 6.80 5.91 9.8 117 98 255 260 255 Bundaberg 10.00 3.92 20.2 280 255 270 274 270 Burns P 10.00 3.70 10.9 295 264 — 450 440 CIG 16.00 3.64 12.2 450 400 400 402 402 CSR 28.00 6.97 14.2 445 402 — 430 —- Cadbury 9.00 2.09 29.7 445 420 74 75 75 Cascade 3.00 4.00 17.9 79 68 52 53 52 Chase 7.00 13.46 — 82 46 —- 120 —— Clay R 6.50 5.42 5.7 145 120 41 42 —— ClayRPT 5.18 12.63 7.9 41 32 160 164 160 Clyde 8.00 5.00 26.7 160 145 450 460 — CoalAll 10.00 2.22 — 480 450 820 824 824 ColesMyer 28.44 3.45 12.8 924 818 376 377 377 Comalco 24.00 6.37 15.2 430 375 160 165 160 CorpEquit 15.00 9.38 5.0 176 155 — 105 — opt91 — — — ' 88 88 11 12 11 Duke — —— ■ 16 10 — — • — EDunlop 8.00 2.62 305 280 5 8 8 Eastcourt —— — 12 5 275 277 276 Elders 19.00 6.88 6.9 304 270 235 237 235 EldersRs — — — 245 228 395 398 400 Email 17.00 4.27 13.1 440 400 82 84 82 EuroNat — — 11.7 83 80 — 33 .— Expodd 4.00 12.12 2.2 40 33 255 257 255 FAI 10.00 3.92 3.3 270 218 51 55 53 FineMet — — 6.6 55 50 378 380 380 Fletcher 17.00 4.47 9.4 380 326 175 ' Fortuna 9.86 4.93 10.4 200 200 249 250 249 GPT 24.00 9.64 10.4 278 246 61 62 62 Girvan 5.00 8.06 4.8 65 49 206 209 209. Goodman 11.00 5.26 9.1 220 196 6 7 — HDFI — —— — 8 5 375 380 375 Hanimex 15.00 4.00 9.0 385 300 240 243 242 Hardie 18.00 7.44 9.1 272 240 155 160 159 Helm 3.00 1.89 9.4 161 130 62 64 64 Hitek — — 5.2 79 60 192 195 195 Hooker 15.00 7.69 5.3 215 192 1630 1640 1630 IlProp —- — —. 1655 1600 620 428 624 ICI 36.00 5.77 10.3 704 620 110 140 — lELGrwth 5.80 4.83 20.7 120 120 82 85 — lELIncme 11.60 14.15 7.1 — — 138 140 140 Imagin 8.00 5.71 8.8 140 133 160 161 160 IndEquit 10.00 6.25 20.6 179 145 22 23 22 InterPac — — —— 27 18 142 145 — Intrchase — — —— 156 140 210 215 212 Jennings 10.00 4.72 9.0 225 199 830 836 830 JonesDav 42.00 5.06 8.3 900 726 190 200 —— Kern 6.00 3.00 16.5 210 190 72 80 72 Kimberley — — — 72 55

—— 10 — Lrchhill 8.00 88.99 0.1 12 9 48 50 — Leda 2.00 4.00 — 52 45 68 70 70 Leighton 6.00 8.57 7.1 70 60 1020 1030 1020 LLease 50.00 4.90 12.0 1125 1020 . 548 550 550 Mayne 24.00 4.36 12.0 584 550 7116 120 — McPhrsn 7.50 6.36 9.0 125 115 185 190 190 Memtec 1.50 .79 38.0 190 137 41 44 40 NZICorp 3.40 8.29 — 44 38 616 620 620 NatAust 60.00 9.68 7.4 664 610 2770 275 270 NatCons 18.00 6.67 5.3 290 260 1055 1060 1060 NewsCorp 10.00 .94 7.1 1105 964 230 232 230 OPSM 11.00 4.78 15.4 262 230 35 36 35 Oakbridge — — —- 38 30 433 434 434 PacDunlp 15.00 3.46 12.5 475 425 85 90 85 Parbury 4.00 4.71 7.9 100 85 65 68 65 PayceCon 6.00 9.23 4.2 78 65 — 101 — nts 12.00 12.63 —— 96 90 250 252 252 PetersSl 17.00 6.75 8.8 255 240 230 232 232 Pionlnt 13.75 5.93 8.0 272 232 530 540 — QBE 17.00 3.15 11.6 570 492 390 400 390 Qintex 13.63 3.49 5.7 400 350 155 200 160 Reil 3.00 1.88 5.3 170 160 2 — — opt — — — 2 2 970 — 970 Rothmans 50.00 5.15 13.5 980 950 345 353 353 SmithHwd 12.50 3.54 — 370 335 320 325 320 SthnFarm 10.00 3.13 10.8 350 315 28 30 30 Stockbge — — —• 34 26 — 16 — opt —— — —— — —— 23 26 — TAGPac 2.00 8.33 5.1 25 23 320 321 320 TNT 15.00 4.69 7.7 382 320 220 —■ — Taylor 10.00 4.55 220 220 62 64 — USMaster — — 38.8 64 62 13 15 13 Vapocure — — — 15 12 45 46 46 Viking — — — 48 28 500 510 500 Wattyl 12.50 2.50 15.6 536 430 177 180 175 WestCptl - — 20.7 195 170 259 268 259 WfieldHl 7.50 2.90 15.3 300 259 169 170 170 WfieldTr 18.02 10.60 9.4 187 166 128 131 131 Westmex 10.50 8.02 8.6 142 125 524 526 526 Westpac 33.00 6.27 5.6 574 516 74 75 74 WfldCap 1.00 1.35 14.2 80 74 361 365 361 Woolworth — — 4.3 370 361 190 200 190 Wormaid —— — — 203 180 26 28 28 AUR 2.00 7.14 4.7 32 28 130 135 132 ACMins 7.00 5.30 8.1 145 112 475 495 — Aberfoyle 11.00 2.26 32.5 560 490 121 122 121 Ashton — — 9.5 139 116 165 170 165 AustDevl 3.00 1.82 23.6 220 160 48 49 48 BHPGold — — 18.3 58 48 9 10 9 Bendigo — — — 10 6 - 1 — ctg — 1 Illi— — ■1 II 1 2 — opt — — — 1 1 250 255 250 Bougainvl 37.53 15.01 6.7 305 250 69 73 69 CNGold 2.00 2.90 8.7 85 65 786 788 786 CRA 36.00 4.58 18.9 896 770 58 60 60 CarrBoyd 3.00 5.00 8.6 72 60 21 22 22 City 8.00 36.36 — 31 22 11 12 — Cons —— — —— 15 12 1120 1150 1120 ConsRtle 60.00 5.36 12.4 1125 1030 45 47 47 Delta — — 47 35 19 20 20 opt — — — 24 13 120 125 125 Dominion 4.00 3.20 14.2 150 125 — 285 280 ERA 10.00 3.57 18.2 330 280 420 448 450 Emperor 20.00 4.46 14.0 500 430 168 170 — Forsayth 9.00 5.29 13.1 210 168 104 105 105 GMKalg — — 6.4 117 82 53 54 54 Giant — — 4.2 74 51 —. 205 — HII150 — — 23.8 195 190 26 29 — JasonMln — — — 38 28 7 8 — J’lana — — — 9 5 230 233 230 Kidston 31.00 13.48 4.1 270 205 35 45 — Kitchener — — — 45 42 6 9 — KiwiGold — —— — 9 6 170 171 170 MIM 6.00 3.53 12.4 198 165 — — — MetalsEx — — — 150 148 430 450 440 Metana 25.00 5.68 8.0 504 440 43 45 43 Moruya — — — 50 37 300 310 305 Niugini — — 63.1 345 260 228 230 230 NBH 9.00 3.91 13.42 277 230 27 28 27 NthKalg — — 4.2 33 22 410 — NthFlndr 50.00 12.20 6.4 480 410 31 35 — Otter — — 10.3 32 31 158 160 160 Pancont 2.50 1.56 11.9 193 158 21 22 21 Paragon — — — 30 21 —— — — opt . — —— •— 16 15 74 80 — Paringa imo 21.33 3.1 85 72 51 52 53 PionMin — ■— — 74 51 212 213 212 PlacrPac — — 29.4 239 210 205 210 215 Poseidon 10.00 4.76 17.5 260 215 105 109 105 QCT 6.00 5.71 11.7 114 102 740 744 742 RGC 20.00 2.70 25.2 - s776 630 510 514 ,510 SNSGwlia 50.00 9.80 6.2 540 460 11 13 10 Spargos 1.00 9.09 14 10 40 42 42 SthnPac — — — 57 33 6 10 — Technomin — — 7 6 7 8 — Titan — — 8 7 2 — opt — — — 1 1 474 475 475 WMC 26.00 5.47 9.9 554 470 160 170 160 WalMin — — . 160 100 —. 270 — WestSand 8.00 3.08 18.8 275 250 60 62 — AOG — —— 17.9 70 58 153 155 155 Ampol — — 8.8 182 152 18 23 20 Beach 1.00 5.00 7.0 24 20 85 86 86 Bridge — — 6.2 98 85 35 37 37 opt —— — 48 34 31 32 31 Claremont — 33 27 105 110 105 Crusader 2.50 2.38 25.6 130 105 30 30 Cultus — — —• 30 18 110 120 Hartogen — —• 15.6 130 110 2 3 — Longreach — — — 3 2 —— 230 — Magellan — — 14.9 255 230 3 4 — Magnet — — — 4 3 66 67 67 OilSch —- — ■ 80 65 2 3 — Petroz — — —— 3 2 338 340 338 Santos 19.00 5.62 8.1 368 326 — 255 — Vamgas 8.00 3.14 10.0 270 220 850 1000 — WeeksPet —— — 6.0 900 800 181 185 185 Woodside — 22.8 197 185