AUSTRALIA Keating scares market

Press, 17 May 1989, Page 36

AUSTRALIA Keating scares market

NZPA-AAP Sydney The threat of the Australian Treasurer, Mr Paul Keating, to tighten monetary policy if the economy fails to slow down sent a shiver through Australian financial markets yesterday. “After Mr Keating made his announcement the bond and bill markets fell bringing the share market along with them,” one broker said. Brokers said the announcement, following the mostly expected sAustl.l9 billion April current account deficit, saw profit takers move into the market and wipe off recent gains. By 5 p.m., the all ordinaries index was down 8.5

points at 1557.3. “The market just reacted very negatively to Keating's statement that the high deficit figures would continue ‘certainly for the rest of this financial year'.’’ said a broker. National turnover was strong with 101.01 M shares worth 8252.46 M changing hands. Falls slightly led rises. The insurance sector remained mostly unscathed by the profit-taking, FAI and QBE each gaining 5c to 270 and 500 respectively. The market leader, BHP, was steady at 812 -— well off its early high at 826.

. Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low — 117 116 AFP Grp — —— 22.3 128 100 144 145 145 ANI 10.59 7.30 7.2 180 106 360 372 365 91 nts 34.10 9.34 — 435 290 255 265 — 96 nts 30.50 11.96 — 320 235 532 534 534 ANZ 34.50 6.46 7.5 566 473 96 99 99 AWA dd 10.50 10.61 14.3 132 97 195 200 195 Acmex 10.00 5.13 31.5 195 125 634 636 634 Adel Stm 94.00 14.83 6.3 670 558 230 240 240 Alcan 20.00 8.33 4.0 285 230 20 22 21 Alpha 1.50 7.14 30.0 27 20 1205 1210 1205 Amatil 30.00 2.49 18.0 1220 870 1170 — — AmB 30.00 2.51 17.8 1195 850 448 449 448 Amcor 23.50 5.25 11.8 475 400 105 110 105 Apex Pac 6.00 5.71 — 115 80 244 253 253 Argo 11.00 4.35 20.9 259 222 16 17 17 Ariadne — — — 22 13 590 594 590 Arnotts 14.00 2.37 21.7 624 516 270 280 270 Arrowfeld — — 12.5 290 200 245 — — delxo — — — — —- 142 145 143 A Found 6.00 4.20 27.1 155 125 40 41 40 Aust Ovrs 1.50 3.75 35.3 41 28 810 812 812 BHP 35.00 4.31 14.2 826 678 48 49 48 BT Aust E 5.50 11.46 4.4 54 44 57 57 BT Global 7.00 12.28 — 57 46 494 495 495 BTR Nyl 15.00 3.03 13.7 944 398 340 345 345 Bank Qld 16.00 4.64 13.4 360 310 63 65 65 Bell G — — — 200 63 pref 39.00 4.52 — — — 92 94 92 Bell Res 15.00 16.30 2.4 145 80 123 125 125 Bond Corp 16.00 12.80 1.6 187 100 33 34 33 Bond Med — — 6.0 44 30 3 4 — opt 91 — — — 5 2 344 345 344 Boral 20.00 5.81 10.7 368 298 1295 1300 1295 Brambles 36.00 2.78 16.3 1325 1030 1320 — — 90 nts 30.75 2.28 — 1300 1145 360 380 360 Brick P 10.00 2.78 20.9 465 340 130 131 131 Brierley 7.80 5.95 9.7 137 98 295 300 295 Bundaberg 10.00 3.39 23.4 295 255 320 321 321 Burns P 15.00 4.67 13.0 332 255 480 500 — CIG 23.50 4.70 13.9 500 400 464 465 465 CSR 28.00 6.02 16.4 478 390 85 86 29 Chase Cm 8.00 27.59 1.4 82 26 80 85 85 Clay R 6.50 7.65 4.0 145 55 39 40 — Clay R PT 5.18 13.28 7.5 41 . 32 154 155 154 Clyde 9.00 5.84 25.7 162 145 600 610 600 Coal All 12.00 2.00 — 600 410 888 890 888 ColesMyer 28.44 3.20 13.8 924 772 390 392 390 Comalco 32.00 8.21 5.6 430 330 155 156 158 Corp Eqit 15.00 9.62 4.9 176 155 70 76 — opt 91 — — — 88 80 1 2 — Cortaus ' — — 3 1 3 4 3 DukeGrp — — — 16 3 8 9 8 E’tcourt — — — 12 5 277 278 277 Elders 19.00 6.86 7.0 304 253 242 244 242 EldersRs 14.82 6.12 18.0 262 223 410 412 410 Email 17.00 4.15 13.5 440 370 8 — Euro-Nat — — 12.6 92 80 24 — Expo 4.00 16.67 1.6 40 24 270 — 270 FAI 10.00 3.70 3.5 272 218 45 50 45 FineMet — — 5.6 55 40 392 393 392 Fletcher 19.50 4.97 8.5 410 326 265 266 265 GPT 24.00 9.06 11.0 278 240 40 48 48 Girvan 5.00 10.42 3.7 65 47 245 246 245 Goodman 11.00 4.49 10.7 255 183 5 6 — H.D.F.I. — — — 8 5 288 . — Hanimex 18.00 6.25 6.9 385 288 245 246 245 HardieJ 18.00 7.35 9.2 272 225 105 110 107 HelmCorp 6.00 5.61 6.3 164 100 32 34 35 Hitek — — 2.8 79 28 162 163 163 Hooker 15.00 9.20 4.4 215 150 1790 1840 1800 UProp — — — 1800 1600 640 650 640 ICI 36.00 5.63 10.6 704 560 100 135 — lELGrwth 5.94 4.40 22.7 140 120 72 88 — lELIncme 11.88 13.98 7.2 85 82 85 100 — ImaginT 8.00 9.41 5.3 140 80 188 189 188 IndEquit 10.00 5.32 24.3 191 144 160 165 163 Intrch’e 3.00 1.84 — 170 135 217 218 218 Jennings 13.00 5.96 9.2 225 178 940 950 950 JonesDav 30.00 13.68 9.4 1030 726 160 165 160 Kearn 6.00 3.75 13.2 210 160 90 — 91 K’berley — — — 91 55 8 — 8 Lrchhill 8.00 — .0.1 12 6 — — — opt 90 — —. — 1 1 47 50 47 Leda 2.00 4.26 — 52 45 64 — 65 Leighton 6.00 9.23 6.6 70 56 1050 1055 1050 LLease 54.00 5.14 12.4 1125 910 574 576 572 MayneN 30.00 5.23 12.5 600 490 22 23 22 McDowell — — — 28 18 103 105 105 McPh’son 7.50 7.14 8.0 125 100 240 243 245 Memtec 2.00 .82 48.6 245 137 318 322 320 MetalMan 15.00 4.69 10.0 330 270 42 44 — NZICorp 3.90 9.07 — 47 31 662 664 664 NatAust 60.00 9.04 7.9 690 580 296 299 296 NatCons 50.00 16.89 5.8 315 260 1340 1345 1340 NewsCorp 10.00 .75 8.9 1380 964 — 208 208 OPSM 11.00 5.29 14.0 262 180 39 40 40 Oakbr’ge -— — —. 41 30 434 436 436 PacDunlp 15.00 3.44 13.8 475 386 60 63 63 Parbury 4.00 6.35 5.8 100 60 50 56 50 PayceCon 6.00 12.00 3.2 78 50 82 94 —— nts 12.00 14.63 — 96 82 298 300 300 PetersSl 20.00 6.67 10.5 305 238 270 271 270 Pion.Int 15.00 5.56 9.3 273 230 495 500 500 QBE 17.00 3.40 10.7 570 470 422 — 422 Qintex 13.63 3.23 6.2 425 350 190 198 — ReilCorp 3.00 1.52 6.6 215 155 2 20 — opt 92 — — — 2 1 932 940 940 Rothmans 50.00 5.32 13.1 980 920 276 278 278 SchroPF 24.00 8.63 ' 11.6 285 250

470 500 495 SmithHwd 20.00 4.04 — 500 335 336 340 335 SthnFarm 10.00 2.98 11.3 350 300 — 27 — Stockbge — — — 35 26 — 10 — opt 89 — — — — — 20 24 — TAGPac 2.00 9.09 4.7 25 20 345 346 345 TNT 15.00 4.35 8.3 382 298 200 225 — Taylor — — — 240 200 78 — 78 USMaster — — 48.8 79 62 6 7 7 Vapocure — — — 15 7 44 45 45 Viking — — — 52 28 532 536 — Wattyl 12.50 2.35 16.6 550 430 — 155 - WestCptl — — 17.5 195 150 310 320 310 WfieldHI 7.50 2.42 18.3 310 240 174 177 177 WfieldTr 18.02 10.18 9.8 187 165 128 130 129 Westmex 11.20 8.68 8.9 142 120 568 570 570 Westpac 33.00 5.79 6.1 590 494 58 —• 60 WfldCap 1.00 1.67 11.5 80 50 355 — — Woolworth — — 2.6 370 355 193 196 195 Wormaid 4.00 2.05 —— 225 165 — 28 27 AUR 2.00 7.41 4.5 32 24 163 164 164 ACMins 7.00 4.27 10.1 172 112 480 500 500 Aberfoyle 11.00 2.20 33.3 560 440 127 129 129 Ashton 6.00 4.65 10.5 139 103 148 — 150 AustDevl 3.00 2.00 21.4 220 145 48 49 48 BHPGold — — 18.3 60 48 6 7 6 Bendigo — — — 10 6 —— 1 — ctg - 'll —— 1 1 — 1 — OPTS 89 — — — 1 1 253 255 255 Bougainvl 40.50 15.88 6.3 305 238 58 60 60 CNGold 2.00 3.33 7.6 85 57 894 900 896 CRA 38.00 4.24 11.3 914 770 60 65 — CarrBoyd 3.00 5.00 8.6 72 55 11 13 12 City Res 8.00 66.67 — 31 12 15 — ConsRes —— — — 15 8 1030 1100 1050 ConsRtle 60.00 5.71 11.6 1125 950 38 40 39 DeltaG — — — 47 35 10 13 12 opt 89 — — — 24 12 110 112 112 Dominion 4.00 3.57 12.7 150 110 210 220 210 ERA 10.00 4.76 13.6 330 200 — 495 495 Emperor 20.00 4.04 15.5 512 430 189 190 190 Forsayth 9.00 4.74 9.5 210 165 83 86 85 GMKalg — — 5.2 120 82 45 47 45 GiantRes — — 3.5 74 38 24 25 25 JasonMin — — — 38 19 5 6 — J’lana — — — 9 5 235 236 235 Kidston 31.00 13.19 5.6 290 205 32 35 32 Kitchener — — — 45 30 4 5 5 Kiwigold — — — 9 4 189 190 189 MIM 6.00 3.17 13.8 198 159 150 —. — MetalsEx — — — 150 145 370 380 370 Metana 25.00 6.76 6.7 504 313 55 — 55 Moruya — — — 55 37 420 — 425 Niugini — — 72.2 445 260 237 238 237 NorthBH 10.00 4.22 13.8 277 218 27 — 27 NthKalg — — 4.2 33 22 190 193 200 NthFlndr 25.00 12.95 3.0 480 175 20 24 20 Otter — — —- 32 19 172 176 175 PancontM 2.50 1.43 13.1 193 158 14 15 15 Paragon — — — 30 10 1 I opt 89 — — — 16 1 60 — Paringa 17.60 32.00 2.1 85 55 172 173 172 Pasminco —— — — 180 160 47 48 48 PionMin — — —— 74 41 253 254 253 PlacrPac — — 54.1 278 210 235 240 235 Poseidon 10.00 4.26 19.6 260 215 123 125 124 QCTRes 6.00 4.84 13.9 1210 102 710 720 730 RGC 20.00 2.78 24.5 776 630 500 — 500 SnsGwlia 50.00 10.00 6.1 600 460 11 12 12 Spargos 1.00 8.33 — 16 10 46 47 46 SthnPac — — — 57 33 4 8 — Technomin — — — 7 4 7 20 — Tectonic — — — 25 6 4 5 — TitanRes — — — 8 4 1 — opt 89 — — — 1 1 497 498 498 WMC 26.00 5.22 10.4 554 470 185 190 185 WalMin — — — 190 100 285 290 — WestSand 8.00 2.76 21.0 300 250 60 — AOG — — 17.3 70 55 188 189 189 AmpolExp — — 10.7 195 145 19 24 — Beach 1.00 5.00 7.0 24 16 85 86 86 Bridge — — 5.4 98 75 35 37 35 opt 89 —> — — 48 27 23 24 23 Claremont — — 33 21 120 122 ■ 120 Crusader 2.50 2.08 29.3 130 105 40 42 40 Cultus — — — 53 18 118 120 120 Hartogen — — 8.6 131 100 3 4 — Longreach —- —• — 5 2 200 220 — Magellan — — 13.6 255 190 3 4 — Magnet —• —— — 4 3 58 62 60 NZOilGas — — —- 63 57 71 73 73 OilSch — — — 80 55 1 2 1 Petroz — — — 3 1 360 367 365 Santos 19.00 5.21 11.8 395 326 230 — — Vamgas 8.00 3.48 10.1 270 220 850 — — WeeksPet — — 1.7 900 800 227 228 228 Woodside — — 9.1 230 184