Key point beckons Aust.

Press, 4 April 1989, Page 39

Key point beckons Aust.

NZPA-AAP Sydney The Australian sharemarket continued to drift lower yesterday afternoon on slim volumes to just above the critical 1450 support level by the close. Brokers said high interest rates and the strength of the Australian dollar had forced investors to shy away from the national market. It was one of the quietest trading days with less than sAust6o million worth of shares passing through the national market, they said. By the close of floor trading, the all-ordinaries index was 7.1 points down at 1452.5. The all-industrials index fell 12.8 points to 2393.0, the all resources 2.9 to 747.1 and the gold marker 12.1 to 1488.2, in spite of a recent increase in bullion prices. National turnover was a "paltry” 37.18 M shares, worth sAusts7.l4M, with falls exceeding rises about two to one.

In a listless industrial sector, Qintex added 10c to 400, after the takeover of MGM/ UA Communications in the United States, its offshoot Qintex Australia remained steady at 150. News Corporation was also up 10c at 1175, and Crestwin Corporation 2c at 60, but TNT was steady at 318, as was Boral at 312.

BHP was ahead 4c at 764 and Newhaven Park Stud was unchanged at 26c as 1.9 M shares, or about 4 per cent of its issued capital, crossed in one special sale at 4c above market price. Mayne Nickless, trading exdividend, tumbled 18c to 506, Brambles 5c to 1135, Coles Myer 6c to 794, and Elders IXL 2c to 261

as 1.17 M shares traded. Bond Corporation dropped 10c to 150 and Adsteam 16c to 624. Insurance stocks, FAI and QBE, remained steady at 255 and 530 respectively, as did ANZ Bank at 496 as 1.33 M shares crossed. Westpac gained 4c to 530 and National Australia lost 6c to 610. In the mining sector, CRA lost 6c to 828 and Ashton was steady at 110 c after it made a joint bid for outstanding units in West Australian Diamond Trust. W.A. Diamond Trust was also steady at 91. MIM slipped 3c to 170 and Western Mining 2c to 483. Among gold producers, Forsayth fell 8c to 187, Metana 6c to 390, Kidston Gold Mines 7c to 273, and Emperor 5c to 480. Among energy stocks, Ampol lost 2c to 148, but Santos was steady at 376.

Closing quotes Last Industrial Buy Sell sale AN! 151 152 152 91 nts 380 400 — 96 nts 290 295 — ANZ 496 497 496 AWA dd 104 105 103 Acmex 150 165 — AdelStm 620 624 624 Alcan 240 245 245 Alpha 23 25 23 Amatil 910 920 920 B 866 — — Amcor 426 427 425 ApexPac — 101 85 Argo 235 236 236 Ariadne 17 18 18 Arnotts 520 538 — Arrowfeld 245 255 — opt 89 — 75 — AFound 138 140 138 AustOvrs 36 37 36 BHP 762 764 764 BTGlobal 48 50 — BTRNylex 882 884 882 BankQld 350 360 —

BellG 140 150 150 BellRes 123 129 123 BondCorp 150 153 150 BondMed 34 35 34 opt 91 2 3 — Boral 308 310 309 Brambles 1135 1140 1135 90nts 1180 — 1180 BrickP 382 385 — Brierley 106 108 106 Bundaberg — 285 — BurnsP 261 263 262 CIG 450 — — CSR 401 402 402 Cascade 84 85 84 ChaseCrp 39 40 40 ClayR 86 88 87 ClayRPT 40 41 — Clyde 155 165 161 CoalAll 450 — — ColesMyer 790 794 794 Comalco 340 345 340 CorpEqit — 160 — Cortaus 1 2 1 Duke 9 10 9 Eastcourt 9 11 9 Elders 260 262 261 Elders Rs 230 232 — Email 383 384 384 Euro-Nat 87 90 87 Expodd 30 35 35 FAI 255 256 256 FineMet 50 51 50 Fletcher 385 387 387 GPT 250 255 255 Girvan 52 54 52 Goodman 193 194 193 H.D.F.I. 5 6 — Hanimex — 335 — HardieJ 237 240 236 HelmCorp 116 119 118 Hitek 45 55 56 Hooker 178 180 180 UProp 1660 1690 1660 ICI 598 600 600 lELGrwth 100 — — ImaginT 110 116 — IndEquit 149 150 150 Intrchase 160 165 — Jennings 188 190 188 JonesDav 990 1000 990 Kern 165 170 165 Kimberley 76 80 — Lrchhill 2 8 — Leda 46 48 48 Leighton 61 63 62 LLease 940 942 940

MayneN 508 516 508 McDowell 25 27 — McPhersn 105 — 105 Memtec 182 184 183 NZICorp 35 36 36 NatAust 610 612 610 NatCons 270 285 — NewsCorp 1170 1175 1170 OPSM 193 195 194 Oakbridge 32 33 33 PacDunlp 410 411 411 Parbury 68 80 — PayceCon 63 70 — nts 80 95 — PetersSl 250 252 250 Pion.Int 238 240 239 QBE 495 530 — Qintex 390 400 400 ReilCorp 190 200 200 opt92 2 20 — Rothmans 960 980 960 SmithHwd 360 365 360 SthnFarm 303 310 303 Stockbge 30 35 — Stock opt 89 — 10 — TAGPac 24 25 25 TNT 317 318 318 Taylor — 225 — Usmaster 63 65 63 Vapocure — 11 — Viking 33 35 — Wattyl 510 518 510 WestCptl 165 170 170 WfieldHl 250 260 250 WfieldTr 167 168 168 Westmex 127 128 128 Westpac 528 530 530 WfidCap 59 60 60 Woolworth 355 360 — Wormaid 210 215 210 A.U.R. 29 31 — ACMins 155 156 155 Aberfoyle — 480 — Ashton Ill 112 Ill AustDevl 170 180 175 BHPGold 55 57 56 Bendigo 7 8 8 ctg — 1 — opt 89 — 1 — Bougainvl 264 265 265 CNGold 69 70 69 CRA 826 830 828 CarrBoyd 65 70 65 CityRes 18 20 18 ConsRes 9 11 — ConsRtle — 1000 — DeltaG 45 46 46

opt 89 18 19 — Dominion —— 135 135 ERA 235 238 235 Emperor 480 485 480 Forsayth 185 187 187 GMKalg too 105 105 GiantRes 52 — 52 JasonMin 21 23 22 J’lana 6 7 — Kidston 273 274 273 Kitchener 39 42 — KiwiGold 5 9 5 MIM 169 170 170 MetalsEx 140 — — Metana 388 395 390 Moruya 45 49 — Niugini 390 395 390 NorthBH 235 236 235 NthKalg 28 29 29 NthFlndr 180 190 190 ' Otter 20 21 20 PancontM 160 168 165 Paragon 16 17 17 opt 89 — 8 — Paringa 55 70 — Pion.Min 44 45 44 PlacrPac 236 237 237 Poseidon 250 255 250 QCTRes 113 114 113 RGC 700 718 716 SnsGwlia 580 — — Spargos 14 15 14 SthnPac 42 45 42 Technomin 6 8 6 TitanRes 7 8 — opt 89 — 1 — WMC 483 484 483 WalMin 160 165 160 WestSand 262 265 265 AOG 59 60 59 AmpolExp 148 150 148 Beach — 17 17 Bridge 84 85 84 opt 89 35 37 35 Claremont 24 25 25 Crusader 120 125 120 Cultus 40 46 50 Hartogen 110 118 115 Longreach 3 — 3 Magellan — 210 210 Magnet 3 4 — OilSch 58 60 58 Petroz 2 3 3 Santos 375 — 376 Vamgas 255 256 255 WeeksPet 850 900 — Woodside 205 210 210