AUSTRALIA Rates drop sharemarket

Press, 29 July 1989, Page 27

AUSTRALIA Rates drop sharemarket

NZPA-AAP Sydney The Australian sharemarket closed slightly lower in mixed trade due to continuing high domestic interest rates, dealers said. The all ordinaries index closed 1.4 points lower at 1626.8. Dealers said the market was boosted by trade in options due to expire at the end of the month. National turnover, swollen by options related trade worth about sAust33s million, saw 209.83 M shares worth sAust7o2.77M change hands. Rises led falls by about four to three. The all industrials index was 4.2 points lower at 2604.8. while the all resources gained 0.5 to 886.8. The gold marker lost 7.2 to 1594.1. Lend Lease was a heavy loser, down 20 cents to 1110. Pioneer lost 2c to 278 as County Natwest crossed nine million shares at 274. BHP was down 4c at 966. News Corp and Bell Group had big gains, both up 10c at 1670 and 85

respectively. Boral gained 7c to 380. Transport stocks were mostly firmer. TNT rose 7c to 360, Brambles 5c to 1465 and Mayne Nickless 4c to 620. Elders IXL, which will face a 300 cents per share takeover bid by Harlin Holdings, was unchanged at 296 on high turnover which was mostly optionsrelated. AFP Group, of which Elders holds an 18 per cent stake, gained 3c to 155. Bank stocks were mostly weaker. Westpac lost 6c to 504 and ANZ 4c to 498. National Australia was steady at 618. Among the entrepreneurs, Adsteam gained 4c to 720, while Bond Corp lost 4c to 77. Brierley Investments was steady at 149. In the gold sector, Emperor rose 10c to 415 and Sons of Gwalia and Poseidon each lifted 6c to 546 and 246. Among other resource stocks, Westralian Sands rose 15c to 320, CRA lifted 8c to 960, Pasminco 7c to 202, MIM 6c to 234 and Western Mining 2c to 606.

Closing quotes Buy Sell Sale Dividends Cents Yld% P/E ratio Year’s high low 155 155 AFPGrp — — 29.8 155 100 134 135 134 ANI 10.59 7.90 6.6 180 106 340 — 340 91nts 34.10 10.03 — 435 290 240 255 — 96nts 30.50 12.71 — 320 230 497 498 498 ANZ 44.00 8.84 7.0 566 445 no 118 118 AWAdd 10.50 8.90 17.1 132 90 165 180 — Acmex 10.00 5.88 27.4 198 125 714 — 720 AdelStm 94.00 13.06 7.1 730 558 213 215 215 Alcan 20.00 9.30 3.6 285 200 21 23 — Alpha 1.50 7.14 30.0 27 17 1250 1260 1250 Amatiidd — — 18.7 1275 1130 443 450 443 Amcor 25.00 5.64 11.6 475 400 95 100 95 ApexPac 6.00 6.32 —- 115 80 238 239 239 Argo 11.00 4.60 19.8 259 222 11 12 11 Ariadne — — — 22 10 620 624 626 Arnotts 14.00 2.24 22.9 662 516 250 260 260 Arrowfeld — — 12.0 290 200 138 140 140 AFound 6.00 4.29 26.6 155 125 45 47 45 AustOvrs 1.50 3.33 64.7 48 28 964 966 966 BHP 35.00 3.62 13.2 990 678 49 50 50 BTAustE 5.50 11.00 4.6 54 44 58 60 58 BTGlobal 7.00 12.07 — 61 46 558 560 560 BTRNylex 15.00 2.68 15.5 944 398 356 360 358 BankQld 16.00 4.47 13.9 362 310 85 90 85 BellG — — — 200 55 — — — pref 39.00 4.52 — —— — 78 80 78 BellRes 15.00 19.23 2.1 145 55 75 80 77 BondCorp 16.00 20.78 1.0 187 48 30 31 30 BondMed — — 5.5 44 23 1 2 — opt9l —— — — 5 1 379 380 380 Boral 20.00 5.26 11.8 384 298 1465 1470 1465 Brambles 36.00 2.46 18.5 1485 1030 1525 1550 — 90nts 30.75 1.98 — 1580 1145 400 — — BrickP 15.00 3.75 16.0 465 340 149 150 150 Brierley 7.60 5.07 11.4 151 98 335 340 335 Bundaberg 12.50 3.73 11.0 335 255 358 360 360 BurnsP 15.00 4.17 14.6 368 255 480 540 — CIG 23.50 4.35 15.0 560 400 464 466 466 CSR 32.00 6.87 10.6 479 390 82 85 85 Cascade 4.00 4.71 20.2 92 68 3 4 — ChaseCrp — — 0.2 82 3 45 48 — ClayR 6.50 13.54 2.3 J45 44 36 37 37 ClayRPT — — — 41 31 148 145 Clyde 9.00 6.21 24.2 162 140 726 730 730 CoalAil 12.00 1.64 — 750 440 844 850 848 ColesMyer 28.44 3.35 13.2 924 772 394 395 395 Comalco 32.00 8.10 5.6 430 330 130 136 130 CorpEqit 15.00 11.54 4.1 176 125 50 75 — opt91 — — — 88 65 1 2 — Cortaus — — —— 3 1 8 11 8 Eastcourt — — —- 14 b 296 297 296 Elders 19.00 6.42 7.4 304 253 250 252 251 EldersRs 14.44 ' 5.75 19.2 262 223 435 437 437 Email 25.00 5.72 10.2 450 370 — 58 — Euro-Nat — — 2.3 92 60 276 280 275 FAI 10.00 3.62 3.6 290 218 23 — FineMet — — 2.5 55 20 353 358 352 Fletcher 19.00 5.38 7.8 410 326 250 255 250 GPT 30.00 12.00 8.3 278 240 20 21 21 Girvan 5.00 23.81 1.6 65 19 225 — 225 Goodman 11.00 4.89 9.8 255 183 4 5 4 H.D.F.I. — — — 8 4 212 215 215 Hanimex 18.00 8.37 5.1 385 200 260 262 260 HardieJ 19.00 7.31 8.4 272 225 98 100 100 HelmCorp 6.00 6.00 5.9 164 98 31 32 32 Hltek — — 2.6 79 28 1820 1830 — IlProp — — — 1900 1600 610 612 610 ICI 36.00 5.90 10.1 704 560 100 105 — lELGrwth 6.64 6.64 15.1 140 100 75 85 — lELIncme 13.28 17.71 5.6 85 75 —— 76 — ImaginT 8.00 10.53 4.8 140 76 211 212 211 IndEquit 10.00 4.74 27.2 215 144 —— 128 125 Intrchase 3.00 2.40 — 175 125 195 200 198 Jennings 13.00 6.57 8.4 225 178 1035 1050 1035 JonesDav 30.00 12.56 10.3 1050 726

140 142 140 Kern 6.00 4.29 11.6 210 125 70 98 — Kimberley — — — 101 55 6 8 6 Lrcbhili — — — 12 1 —- 26 — opt 90 — —— — 1 1 39 40 — Leda 2.00 5.13 — 52 38 70 73 70 Leighton 6.00 8.57 7.1 70 56 1110 1120 1110 LLease 54.00 4.86 13.1 1165 910 616 624 620 MayneN 30.00 4.84 13.5 628 490 16 19 16 McCDow - — — — 28 15 101 105 — McPhers 7.50 7.43 7.7 125 97 265 270 270 Memtec 2.00 .74 54.0 285 137 325 328 330 MetalMan 15.00 4.57 10.3 350 270 48 — — NZICorp 3.80 7.92 — 50 31 616 618 618 NatAust 60.00 9.71 7.3 690 580 296 302 300 NatCons' 50.00 16.67 5.8 318 260 1665 1675 1670 NewsCorp 10.00 .60 11.1 1690 964 207 208 207 OPSM 11.00 5.31 13.9 262 180 56 57 56 Oakbridge — — — 62 30 490 491 491 PacDunlp 15.00 3.05 15.5 500 386 75 100 —— Parbury 4.00 5.33 6.9 100 54 50 75 50 PayceCon 6.00 12.00 3.2 78 45 42 — —— nts 12.00 14.46 — 96 82 311 313 311 PetersSl 20.00 6.43 10.8 315 238 275 278 275 Pionlnt 15.00 5.45 9.5 285 230 546 560 —- QBE 17.00 3.11 11.7 570 470 — 385 385 Qintex 13.63 3.54 5.6 425 350 218 235 — ReilCorp 3.00 1.38 7.2 225 155 — 15 — opt92 — —— — 2 1 9500 970 956 Rothmans 50.00 5.23 13.3 980 900 287 290 290 SchroPF 24.00 8.28 12.1 290 246 500 502 520 SmithHwd 20.00 3.98 — 536 335 352 353 352 SthnFarm 10.00 2.84 11.9 355 300 24 26 26 Stockbge — — — 35 16 14 16 14 TAGPac 2.00 14.29 3.0 25 14 360 362 360 TNT 15.00 . 4.17 8.7 382 298 180 215 — Taylor . — — —— 240 200 — — —— USMaster 2.25 3.00 46.9 79 62 3 3 — Vapocure — — — 15 2 33 35 35 Viking — — — 52 28 490 495 — Wattyl 12.50 2.53 .15.5 550 430 190 195 192 WestCptl — — 22.4 195 130 260 270 275 WfieldHl 7.50 2.78 16.0 315 240 175 176 175 WfieldTr 18.34 10.48 9.5 187 160 119 125 120 Westmex 11.20 9.33 8.3 142 114 502 504 504 Westpac 50.00 9.92 5.4 590 458 43 — 43 WfidCap 1.00 2.33 8.3 80 34 232 235 235 Wormaid 4.00 1.70 235 165 18 19 18 AUR 2.00 11.11 3.0 32 14 187 190 190 ACMins 7.00 3.68 11.7 190 112 516 530 520 Aberfoyle 14.00 2.69 34.7 56 440 135 137 135 Ashton 6.00 4.44 11.0 145 103 155 — 155 AustDevl 3.00 1.94 22.1 220 130 48 49 48 BHPGoid — —■ 24.0 60 43 22 25 25 Bendigo —— — — 36 6 3 5 — ctg — — — 10 1 1 — — opt89 — — — 1 1 192 193 193 Bougainvl 41.31 21.40 4.7 305 170 59 61 61 CNGold 2.00 3.28 7.7 85 45 960 962 960 CRA — — 12.2 962 770 68 —— 70 CarrBoyd 3.00 4.29 10.0 72 52 — 10 9 City Res 8.00 88.89 —— 31 8 8 10 — ConsRes — — — 15 8 1080 1140 1100 ConsRtle 60.00 5.45 12.1 1140 920 49 50 50 DeltaG — — — 52 35 170 171 170 Dominion 4.00 2.35 19.3 175 110 — 245 — ERA 10.00 4.17 15.6 330 200 415 420 415 Emperor 20.00 4.82 13.0 512. 219 — 11 — PPhoenix — — — 25 5 200 202 200 Forsayth 9.00 4.50 10.0 210 165 73 75 73 GMKalg — — 4.5 120 67 38 39 39 GiantRes — — 3.0 74 29 11 12 11 GtFngall — — — 12 8 —— 1 1 opt 89 — — — 1 1 19 20 — JasonMin — — — 38 16 5 6 5 J’lana — — - 9 3 250 258 255 Kidston 24.00 9.41 6.1 290 205 42 45 — Kitchener — — — 45 30 3 5 4 KiwiGoId — — — 9 3 233 234 234 MIM 6.00' 2.56 17.1 235 159 130 145 130 MetalsEx — — — 160 110 316 320 315 Metana 25.00 7.91 5.7 504 310 45 50 45 Moruya — — — 55 37 320 325 325 Niugini — — 61.1 445 260 271 272 271 NorthBH 10.00 3.69 15.8 277 218 22 24 24 NthKalg — — 3.7 33 22 245 255 245 NthFlndr 25.00 10.20 3.8 480 175 185 20 20 Otter — — — 32 16 194 196 195 PancontM 2.50 1.28 14.6 195 150 14 15 15 Paragon — — — 30 10 2 — 2 opt 89 — —— — 16 1 88 95 90 Paringa — — 3.4 98 52 202 204 202 Pasminco — — — . 202 160 60 61 60 PionMin — —— — 74 35 304 306 304 PlaccrPac — —- . 65.0 312 210 242 246 242 Poseidon io.oo 4.13 20.2 260 195 150 152 151 QCTRes 6.00 3.97 8.4 154 102 790 810 790 RGC 20.00 2.35 26.9 800 630 546 — 546 SnsGwiia 50.00 9.16 6.7 600 460 8 9 9 Spargos — — —— 16 7 40 42 42 SthnPac — —— —— 57 33 4 5 — Technomin — — — 7 4 5 6 6 Tectonic — — —- 25 5 4 10 — TitanRes —— — 8 3 — 1 — opt 89 — — —-- 1 1 604 608 606 WMC 26.00 4.29 12.7 610 470 182 185 182 WalMin — — — 190 100 315 320 320 WestSand 8.00 2.50 23.2 320 250 58 62 60 AOG — —— 17.3 70 53 200 203 203 AmpoIExp — 11.5 210 145 15 — — Beach 1.00 6.25 5.6 24 15 92 93 93 Bridge — — 5.8 98 75 90 95 — deixo — — 93 85 9 10 10 Claremont — — 33 8 105 110 110 Crusader 2.50 2.27 26.8 130 95 27 35 — Cultus — — —— 53 18 2 3 — Longreach — — 5 2 190 198 — Magellan —— 12.3 255 181 3 4 — Magnet — — 4 3 60 63 63 NZOiiGas — — —— 64 53 70 71 71 OilSch — — 84 55 32 34 32 Petroz dd — — 50 25 380 384 383 Santos 19.00 4.96 12.4 397 326 275 285 280 Vamgas 8.00 2.86 12.3 280 220 — — 850 WeeksPet — — 1.6 900 800 265 270 265 Woodside — — 10.6 280 184