FUTURES Busy BSI beats retreat
The Barclays share price index (BSI) futures contract was actively traded yesterday, at the same time beating a technical retreat. A futures dealer said that there was good support for the BSI around its closing mark, but if it went 10 points lower then this would show just how weak the market was.
The premium to the physical eased 5 points to 45 points for September, as the contract moved down a sharp 21 points. December was untraded.
The Australian balance of payments figures had more effect on the Australian sharemarket than New Zealand.
Lots dealt totalled 93, usually about the turnover for the week, he said. Both Government stock (GSC) and bank bills contracts (BBC) were held to a tight range. The GSC held the same level throughout the day and the BBC was in equilibrium, with nothing to shift it in the short term.
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Press, 19 July 1989, Page 41
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151FUTURES Busy BSI beats retreat Press, 19 July 1989, Page 41
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