Aust. market up sharply

Press, 23 May 1989, Page 25

Aust. market up sharply

NZPA-AAP Sydney Strong gains on offshore markets on Friday and a weaker Australian dollar combined to push the Australian sharemarket to a sharply higher level by the close of floor trading, brokers said.

In spite of a burst of profit taking shortly before the close, the allordinaries index was 17.2 points higher at 1579.4 at the close.

On Friday, Wall Street’s Dow Jones surged 31 points to 2501 and in London the FTSE 100 gained 22.5 points to 2199.8. Brokers said three stocks — BHP, News Corp, and CRA — were responsible for the market’s strong performance yesterday. BHP surged 46c to 886, News Corp 65 to. 1425 and CRA 24 to 948. "Their strong lifts were responsible for about 75 per cent of the market’s total gain,” one broker said.

"The weaker Australian dollar stimulated strong offshore support for the three stocks, which are recognised internationally as solid investments,” he said. Closing

quotes Last Industrial Buy Sell sale AFPGrp 127 129 128 ANI 141 142 141 91nts 350 —_ — 9?nts 255 260 — ANZ 530 532 532 AWAdd 90 98 95 Acmex 185 200 198 AdelStm — 668 670 Alcan 235 240 240 Alpha 18 22 — Amatil 1210 1215 1210 AmatilB 1195 —. 1195

Amcor 460 464 464 Intrchase 162 165 — CityRes 13 — 13 ApexPac 105 110 105 Jennings 205 210 — ConsRes 12 15 12 Argo 251 252 252 JonesDav 960 970 970 ConsRtle 1055 — — Ariadne 15 16 Kern 170 175 — DeltaG 38 40 39 Arnotts 590 600 590 Kimberley 100 — — opt89 12 13 12 Arrowfeld 270 280 270 Lrchhill 2 8 — Dominion 117 119 117 Arrowfeld delxo 245 — Leda 46 47 47 ERA 200 210 200 — Leighton 62 65 65 Emperor 440 450 450 AFound 142 144 142 LLease 1030 1035 1035 Forsayth 185 190 185 AustOvrs 42 45 43 MayneN 586 590 586 GMKalg 84 86 85 BHP 884 886 886 McCDowell 18 24 18 GiantRes 42 43 43 BTAustE 48 49 49 McPherson 103 105 103 JasonMin 21 23 23 Global 58 59 Memtec 260 265 260 Jlana 5 6 5 BTRNylex 516 518 516 MetalMan 318 — 320 Kidston 240 242 240 BankQld 325 340 340 NZICorp 39 44 40 Kitchener 32 40 — BellG 90 92 90 NatAust 674 680 674 KiwiGold 5 6 6 BellRes 115 120 118 NatCons 295 — 299 MIM 197 198 198 BondCorp 128 130 128 NewsCorp 1420 1425 1425 MetalsEx 150 200 150 BondMed 35 36 36 OPSM 205 208 205 Metana 377 385 380 opt91 3 4 Oakbridge 45 46 46 Moruya 50 52 50 Boral 360 362 362 PacDunip 448 450 450 Niugini — 425 420 Brambles 1345 1350 1350 Parbury 60 63 — NorthBH 245 246 246 90nts 1400 1420 1350 PayceCon 52 54 52 NthKalg 27 28 27 BrickP 360 375 — nts 83 94 — NthFlndr 185 190 185 Brierley 130 131 130 PetersSl 280 287 280 Otter 20 24 — Bundaberg 295 300 295 Pionlnt 270 271 270 PancontM 173 175 173 BurnsP 331 332 332 QBE 500 506 500 Paragon 13 15 14 CIG 480 490 .— Qintex 420 425 420 opt89 1 — — CSR 463 464 463 ReiiCorp 205 210 205 Paringa — 60 — Cascade 86 88 88 opt92 5 20 — Pasminco 184 185 185 ChaseCrp 27 29 27 Rothmans 936 940 936 PionMin 46 48 47 ClayR 71 80 SchroPF — 265 264 PlacrPac 252 254 253 ClayRPT 39 40 SmithHwd 480 490 485 Poseidon 235 238 235 Clyde 150 160 150 SthnFarm 310 330 330 QCTRes 130 132 132 CoalAll 614 650 612 Stockbge — 26 — RGC 716 720 716 ColesMyer 898 — 900 opt89 — 10 — SnsGwlia 500 —— 500 Comalco 393 394 393 TAGPac 22 24 22 Spargos 11 12 11 CorpEqit 152 156 156 TNT 360 362 362 SthnPac 45 47 46 CorpEqitopt91 70 76 — Taylor 200 225 — Technomin 5 8 — Cortaus 1 2 USMaster 78 — 78 Tectonic 7 10 10 DukeGrp 4 5 4 Vapocure 6 8 6 TitanRes 3 4 — Eastcourt 13 14 12 Viking 40 41 41 opt89 — 1 — Elders 276 278 277 Wattyl 504 520 504 WMC 500 502 500 EldersRs 240 242 240 WestCptl 150 155 150 WalMin 180 200 180 Email 404 405 404 WfieldHl 312 315 312 WestSand 285 295 285 Euro-Nat 88 Tr 172 175 170 AOG 60 62 61 Expo — 24 — Westmex 127 130 129 AmpolExp 185 187 185 FAI 270 273 270 Westpac 552 554 552 Beach 18 24 18 Fletcher 390 392 392 WfldCap 60 62 60 Bridge 85 86 85 GPT 255 257 255 Wwths 355 390 — opt89 35 . 36 35 Girvan 46 47 47 Wormaid 220 225 220 Claremont ■ 23 26 23 Goodman 234 235 235 ADR 24 25 24 Crusader 119 120 119 H.D.F.I. 5 6 5 ACMins 163 168 163 Cultus 38 40 — Hanimex 235 265 230 Aberfoyle 490 500 490 Hartogen 115 120 120 Hardie 244 247 244 Ashton 128 130 128 Longreach 3 4 — HelmCorp 105 110 109 AustDevl 150 170 — Magellan 200 210 — Hitek 35 36 36 BHPGold 48 49 49 Magnet 3 4 3 Hooker 151 154 150 Bendigo 6 7 — NZOilGas 55 60 — UProp 1870 1870 ctg — 1 — OilSch 72 73 72 ICI 660 662 660 opt89 —— 1 — Petroz 1 2 1 lELGrwth 100 135 • Bougainvl 238 240 238 Santos 370 375 375 Incme 72 88 — CNGold 58 60 60 Vamgas 235 — 230 ImaginT 95 100 — CRA 948 950 948 WeeksPet 850 860 — IndEquit 185 186 186 CarrBoyd 60 62 65 Woodside 224 225 224