Aust. market turning bearish

Press, 2 June 1989, Page 14

Aust. market turning bearish

NZPA-AAP Sydney The Australian sharemarket was marginally firmer yesterday in lacklustre trade indicative of the negative sentiment now overhanging the market. "Corporate collapses, both real and potential, and the dampening effect of high interest rates for some time have taken any real steam out of the market,” one broker said.

The market leader, BHP, which has seen its share price rise more than 27 per cent since the beginning of the year, gained 10c to 844. The all ordinaries was 1.5 points higher at 1531.5.

Australian National Industries, under a $1.40 a share take-over bid by Kerry Packer’s Consolidated Press Securities, remained unchanged at 140 as 3.30 million shares were exchanged.

The all industrials index was down 1.6 points at 2510.0, while the all resources gained 3.4 to 796.6. National turnover was 83.91 million shares worth sAustl3B.4o million, as price falls led rises 194 to 147.

Hooker Corp, facing debt problems in the United States, fell 7c to a year’s low at 115. •

Among entrepreneurial stocks, John Spalvins’ Adsteam rose 6c to 670 and Alan Bond's Bond Corp 4c to 122. Sir Ron Brierley’s Brierley Investments fell 2c to 128. Bank stocks were mixed. ANZ rose six to 514, while

Westpac lost 2c to 510. National Australia was steady at 654.

Closing quotes Last Industrial Buy Sell sale AFPGrp 126 130 127 ANI 140 141 140 91nts 367 378 378 96nts 252 255 — ANZ 514 516 514 AWAdd 91 95 95 Acmex 185 200 — AdelStm 666 670 670 Alcan 235 245 245 Alpha 18 20 — Amatildd 1140 1160 1140 Amcor 448 450 448 ApexPac 105 108 — Argo 232 235 232 Ariadne 15 16 15 Arnotts 616 620 620 Arrowfeld 270 280 270 delxo 260 — — AFound 130 142 142 AustOvrs 46 47 46 BHP 840 844 844 BTAustE 46 47 47 BTGlobal 56 — 57 BTRNylex 490 493 493 BankQld 325 340 — BellG 67 70 70 BellRes 95 100 100 BondCorp 122 123 122 BondMed 32 33 32 opt — 3 2 Boral 330 334 330 Brambles 1300 1305 1305 nts 1340 1400 — BrickP 400 410 — Brierley 127 129 128 Bundaberg 295 300 298 BurnsP 309 310 310 CIG 490 510 — CSR 468 470 468 Cascade 89 90 89 ChaseCrp 26 27 26 ClayR 58 63 60 ClayRPT 36 39 — Clyde 150 153 — CoalAll 534 570 —

ColesMyer 840 844 844 Comalco 383 385 385 CorpEqit 145 150 150 opt 70 76 — Cortaus 1 2 — Eastcourt 8 12 12 Elders 262 263 262 Elders Rs 237 238 236 Email 400 420 400 Euro-Nat — 84 — Expo — 23 — FA1 250 252 252 FineMet 45 48 45 Fletcher — 375 375 GPT 256 257 257 Girvan 32 33 32 Goodman 230 232 230 HDFI 6 7 — Hanimex 240 265 — HardieJ 227 230 230 HelmCorp no 114 114 Hitek 35 36 35 Hooker 116 119 116 IlProp 1810 1850 1810 ICI 638 640 640 lELGrwth 100 130 — lELIncme 72 87 — ImaginT 88 92 90 IndEquit 183 184 183 Intrchase 157 160 — Jennings 205 206 206 JonesDav 1000 1010 1010 Kern — 158 158 Kimberley 100 250 — Lrchhill 2 8 — Leda 46 47 46 Leighton 64 — — LLease 1045 1050 1050 MayneN 554 558 554 McCDowell 20 27 20 McPherson 100 101 — Memtec 235 245 240 MetalMan 312 320 — NZICorp 38 40 38 NatAust 654 656 654 NatCons 300 302 302 NewsCorp 1425 1430 1430 OPSM 190 195 190 Oakbridge 43 44 43 PacDunlp 451 452 452 Parbury 61 80 —

PayceCon 53 75 53 PetersSI 280 290 290 Pion.Int 245 248 248 QBE 506 520 — Qintex 397 — 397 ReilCorp 200 210 200 opt 2 15 — Rothmans 934 936 936 SchroPF 260 — 260 SmithHwd 480 485 482 SthnFarm 301 310 301 Stockbge — 25 — opt —■ 8 — TAGPac 21 22 21 TNT 325 338 328 Taylor 200 225 —— USMaster 75 76 — Vapocure — 8 — Viking 35 39 — Wattyl 518 520 520 WestCptl —— 142 — WfieldHl 270 290 280 WfieldTr 170 172 172 Westmex 125 126 125 Westpac 508 510 510 WfldCap 49 54 — Wormaid 212 215 212 A.U.R. 25 27 —— ACMins 166 167 167 Aberfoyle 490 495 500 Ashton 134 138 138 AustDevl 150 160 — BHPGold 46 47 46 Bendigo 7 8 — Bendigoctg — 1 — opt — 1 — Bougainvl 215 216 215 CNGold 56 59 56 CRA 896 900 898 CarrBoyd 54 60 — CityRes 11 12 11 ConsRes — 12 — ConsRtle — 1010 — DeltaG 37 39 39 Dominion 122 — 122 ERA 218 220 220 Emperor 450 460 460 Forsayth 178 182 180 GMKalg 75 77 77 GiantRes 38 40 39 JasonMin 18 20 20

J'lana 5 7 — Kidston 232 250 232 Kitchener 32 42 32 KiwiGold 3 4 4 MIM 188 189 189 MetalsEx — 200 160 Metana 350 355 — Moruya 30 45 — Niugini 380 400 390 NorthBH 235 236 235 NthKalg 24 25 25 NthFlndr 230 235 230 Otter 20 24 — PancontM 150 157 150 Paragon 15 16 16 opt 1 3 — Paringa —- 82 — Pasminco 188 189 188 Pion.Min 39 40 40 PlacrPac 273 274 273 Poseidon 225 230 225 QCTRes 132 133 133 RGC 696 698 698 SnsGwlia 510 — 508 Sparges 10 11 10 SthnPac 42 43 42 Technomin 4 5 — Tectonic 7 9 7 TitanRes 4 — — opt — 1 — WMC 498 500 500 WalMin 181 185 — WestSand 285 290 285 AOG 50 55 53 AmpolExp 178 183 185 Beach 17 — 18 Bridge 81 83 81 opt 28 30 — Claremont 17 18 —■ Crusader 110 115 no Cultus 35 38 — Longreach 3 4 — Magellan 200 220 — Magnet 3 6 — NZOilGas 53 58 — OilSch 73 74 73 Petroz 1 2 2 Santos 370 372 370 Vamgas 250 255 250 WeeksPet 860 1500 — Woodside 240 242 240