Aust. shares eye 1808 barrier

Press, 30 August 1989, Page 40

Aust. shares eye 1808 barrier

NZPA-AAP Sydney The Australian sharemarket closed higher yesterday with brokers saying the bullish trend looked set to continue. The all ordinaries index finished 10 points up at 1780.9 and brokers said it could breach the 1800 barrier by the end of the week if overseas investors took the news of Australia’s credit rating downgrade by Moody’s and June-quarter net foreign debt figures as well as local players. “The market has taken Moody’s announcement in its stride,” a broker said. “If it all goes down pretty well tonight, the market will stay strong.” National turnover was 103.52 million shares worth sAust 185.21 M with rises exceeding falls by 236 to 217. Star performer among the industrials was ICI which jumped 24c to 678 amid speculation its offshore parent might be a take-over target, or was contemplating a merger with pharmaceutical company Wellcome. Meanwhile, another takeover target, Elders IXL, was steady at the Harlin Holdings’ offer price of 300 cps with 5.14 M shares worth sAustls.42M traded. Strong gains were made by BHP, Amcor and Wesfarmers, which each added 10 to 1045, 510 and 500 respectively.

Lend Lease and News Corp both gained five to 1300 and 1725. But Amatil shed 10 to 12.60 and David Jones 10 to 10.90.

Tubemakers was steady at 300 but brokers said they expected it to be well sought-after following the announcement today of a 63% jump in year net profit and a one-for-six bonus issue. An 8c gain to 328 helped FAI lift the insurance sector but transport stocks were mostly lower, with Brambles losing five to 1445 and TNT one to 384.

The cigarette manufacturer Rothmans lost 30 to 1020 after its shares went ex-dividend yesterday. Banking stocks were firmer with National Australia adding 10 to 548, ANZ four to 520 and Westpac six to 532. Firm commodity prices helped resources stocks to maintain their strength.

Closing quotes Dividends P/E Year’s Buy Sell Sale Cents Yld% ratio high low 170 172 172 AFPGrp —— — 33.1 182 100 140 141 140 ANI 10.59 7.56 6.9 180 106 350 352 350 91nts 34.10 9.74 — 435 290 246 260 — 96nts 30.50 11.73 —— 320 230 518 522 520 ANZ 44.00 8.46 7.3 566 445 129 130 130 AWAdd 10.50 8.08 18.8 132 90 195 198 198 Acmex 10.00 5.05 31.9 200 125 848 850 848 AdelStm 94.00 11.08 8.4 850 558 245 260 245 Alcan 20.00 8.16 4.1 285 200 23 24 — Alpha 1.50 6.25 34.3 27 17 1260 1265 1260 Amatil — — 18.8 1275 1130 502 510 510 Amcor 25.00 4.90 13.4 510 400 102 110 102 ApexPac 6.00 5.88 — 115 80 61 262 262 Argo 11.00 4.20 21.7 268 222 15 16 16 Ariadne — — — 22 10 650 660 652 Arnotts 14.00 2.15 24.0 670 516 250 258 250 Arrowfeld — — 11.6 290 200 162 164 162 AFound 7.09 4.38 17.8 170 125 45 46 45 AustOvrs 1.50 3.33 64.7 51 28 1040 1045 1040 BHP 35.00 3.37 14.2 1045 678 56 57 57 BTAustE 5.50 9.65 8.4 58 44 65 BTGlobai 3.50 5.38 4.8 65 46 636 640 640 BTRNylex 15.00 2.34 17.8 944 398 370 375 375 BankQld 16.00 4.27 14.5 376 310 72 73 — BellG — — — 200 55 pref 39.00 4.52 — — — 95 101 98 BellRes 15.00 15.31 2.6 145 55 54 55 55 BondCorp 16.00 29.09 0.7 187 48 28 29 29 BondMed — — 5.3 44 23 1 2 — opt91 — — — 5 1 298 415 416 416 Bora! 20.00 4.81 13.0 420 1445 1450 1450 Brambles 36.00 2.48 18.3 1500 1030 1550 1590 1550 90nts 30.75 1.98 — 1580 1145 — BrickP 15.00 3.75 16.0 465 340 192 195 192 Brierley 7.60 3.96 14.6 196 98 372 380 375 Bundaberg 12.50 3.33 12.3 400 255 370 374 374 BurnsP 15.00 4.01 15.1 380 255 530 536 530 CIG 23.50 4.43 14.7 560 400 528 530 530 CSR 32.00 6.04 12.0 532 390 96 98 98 Cascade 4.00 4.08 23.3 98 68 3 4 3 ChaseCrp — — 0.2 82 3 57 60 58 ClayR 6.50 11.21 2.8 145 44 36 39 38 ClayRPT 4.74 12.47 8.2 41 31 162 168 165 Clyde 9.00 5.45 27.5 165 140 860 890 870 CoalAll 12.00 1.38 — 870 440 934 940 940 ColesMyer 28.44 3.03 14.6 946 772 446 453 450 Comalco 32.00 7.11 6.4 455 330 130 160 140 CorpEqit 15.00 10.71 4.4 176 125 — 70 — opt91 — — — 88 65 1 2 2 Cortaus — — — 3 1 12 13 12 Eastcourt — — — 14 5 300 301 300 Elders 19.00 6.33 7.5 305 253 291 293 290 EldersRs 14.44 4.96 22.3 300 223 452 460 450 Email 25.00 5.53 10.6 465 370 — 60 — EuroNat — — 2.3 92 60 325 328 328 FAI 10.00 3.05 4.2 330 218 428 430 430 Fletcher 20.52 4.77 9.5 430 326 263 264 263 GPT 30.00 11.41 8.8 278 240 25 26 26 Girvan 5.00 19.23 2.0 65 19 245 247 246 Goodman 11.00 4.47 10.7 255 183 5 6 5 HDFI —— — — 8 4 205 208 205 Hanimex 17.00 8.29 5.2 385 200 282 283 283 HardieJ 19.00 6.71 9.2 285 225 107 110 110 HelmCorp 6.00 5.45 6.5 164 98 34 35 34 Hitek — — 2.8 79 28 1750 1800 1750 UProp — — — 1900 1600 672 678 672 ICI 36.00 5.36 11.1 704 560 101 — — lELGrwth 6.64 6.57 15.2 140 100 75 — 75 lELIncme 13.28 17.71 5.6 85 75 50 70 — ImaginT 8.00 12.90 3.9 140 55 225 226 226 IndEquit 10.00 4.42 29.2 229 144 105 115 110 Intrchase 3.00 2.73 — 175 110 248 — 250 Jennings 15.50 6.20 8.3 250 178 1090 1100 1090 JonesDav 30.00 11.93 10.8 1150 726 155 163 — Kern 6.00 3.68 13.5 210 125 70 90 — Kimberley — — 5.2 101 55 2 3 3 Lrchhill —— — — 12 1 — 25 — opt90 — — — 1 1 40 44 42 Leda 2.00 4.76 — 52 38 86 88 88 Leighton 7.00 7.95 6.9 88 56 1300 1350 1300 LLease 54.00 4.15 15.3 1310 910 680 682 682 MayneN 33.00 4.84 12.5 684 490 15 19 20 McCDowell — — — 28 15 105 106 107 McPhersn 7.50 7.08 8.1 125 97 345 350 350 Memtec 2.00 0.57 70.0 360 137 355 360 360 MetalMan 15.00 4.17 11.3 360 270 — — — NZICorp 3.80 7.60 — 50 31 646 648 648 Nat Aust 60.00 9.26 7.7 690 580 339 340 340 NatCons 50.00 14.71 6.6 341 260 1720 1730 1725 newsCorp 10.00 0.58 10.9 1780 964 198 200 200 OPSM 11.00 5.50 13.4 262 180 74 75 74 Oakbridge — — — 74 30 530 532 532 PacDunlp 15.00 2.82 16.8 536 386 80 85 83 Parbury 4.00 4.82 7.7 100 54 53 60 54 PayceCon 6.00 11.11 3.5 78 45 75 80 — PayceCon 12.00 15.38 — 96 78 344 350 344 PetersSl 20.00 5.81 12.0 348 238 303 305 304 Pionlnt 15.00 4.93 10.5 305 230 580 600 600 QBE 17.00 2.83 12.9 610 470 380 385 381 Qintex 15.00 3.94 5.6 425 350 260 — — ReilCorp — — 8.6 261 155 — 1 1 opt 92 — — 2 1 1020 1020 Rothmans 52.00 5.10 9.8 1050 900 290 292 290 SchroPF 24.00 8.28 12.1 292 246 554 560 556 SmithHwd 20.00 3.60 11.6 560 335 405 410 410 SthnFarm 10.00 2.44 13.8 410 300 29 30 — Stockbge — — — 39 16 17 — TAGP dd 2.00 — — — — 384 386 384 TNT 15.00 3.91 9.2 404 298 180 190 — Taylor — — — 240 180 76 80 — USMaster 2.25 2.96 47.5 79 62 3 4 — Vapocure — — — 15 2 39 41 41 Viking — — — 52 28 518 524 524 Wattyl 8.00 1.53 13.0 550 430 210 220 — WestCptI — — 25.7 300 130 280 300 280 WfieldHl 7.50 2.68 16.6 315 240 176 178 178 WfieldTr 18.34 10.30 9.7 187 160 145 146 146 Westmex 12.50 8.56 7.7 150 114 530 532 532 Westpac 50.00 9.40 5.7 590 458 48 — 48 WfldCap 1.00 2.08 9.2 80 34 277 280 277 Wormaid 4.00 1.44 — 280 165

19 22 19 AUR 2.00 10.53 3.2 32 14 225 230 228 ACMins 7.00 3.07 14.1 228 112 620 — 620 Aberfoyle 14.00 2.26 41.3 620 440 147 150 147 Ashton 6.00 4.08 12.0 152 103 162 175 165 AustDevl 3.00 1.82 23.6 220 130 52 53 52 BHPGold — — 26.0 60 43 17 20 — Bendigo — — — 36 6 5 —— — ctg — —- — 10 1 5 — opt 89 — — — 1 1 246 250 248 Bougainvl 41.31 16.66 6.0 305 170 57 58 57 CNGold 2.00 3.51 7.2 85 45 1180 1185 1180 CRA — 14.9 1180 770 82 — 85 CarrBoyd 3.00 3.53 12.1 85 52 8 10 8 CityRes 8.00 — —— 31 7 12 14 12 ConsRes — — — 15 8 1200 1220 1220 ConsRtle 60.00 4.92 13.5 1220 920 54 55 55 DeltaG — — .— 59 35 165 166 165 Dominion 4.00 2.42 18.8 175 110 235 240 240 ERA 10.00 4.17 26.1 330 200 365 370 365 Emperor 20.00 5.48 11.4 512 219 8 19 — FPhoenix — — — 25 5 205 208 208 Forsayth 9.00 4.33 10.4 220 165 91 92 90 GMKalg — — 5.5 120 67 45 46 46 GiantRes — — 3.6 74 29 17 19 18 GtFngall — — — 24 8 19 20 19 JasonMin — — — 38 16 5 7 — Jlana — — — 9 3 245 248 248 Kidston 24.00 9.68 6.0 290 205 40 50 40 Kitchener — — — 45 30 4 5 5 KiwiGoid — — — 9 3 275 279 279 MIM 6.00 2.15 20.4 279 159 230 — MetalsEx — — — 160 110 335 340 335 Metana 25.00 7.46 6.1 504 305 38 40 38 Moruya — — — 55 35 370 380 382 Niugini — —— 22.2 445 260 316 317 316 NorthBH 10.00 3.16 18.4 320 218 28 30 28 NthKalg — — 4.3 35 22 220 230 — NthFIndr 18.75 8.15 6.2 480 175 21 23 — Otter — — — 32 16 210 213 210 PancontM 2.50 1.19 15.7 215 150 19 20 19 Paragon — — — 30 10 3 5 — opt89 — — — 16 1 85 90 — Paringa — — 3.2 98 52 267 268 268 Pasminco — — — 278 160 96 99 96 PionMin — — — 108 35 320 324 324 PiacrPac — — 69.2 342 210 278 280 278 Poseidon 10.00 3.60 23.2 290 195 148 149 149 QCTRes 6.50 4.36 8.3 156 102 906 916 910 RGC 30.00 3.30 13.5 910 630 580 590 590 SnsGwIia 50.00 8.47 6.6 600 460 9 13 9 Spargos — — — 16 .7 37 39 37 SthnPac —— — —— 57 33 6 7 — Technomin — — — 7 4 7 8 — Tectonic — — — 25 5 30 32 30 TtnResdd — — — 48 5 12 14 12 opt dd — —- — 26 6 670 672 670 WMC 26.00 3.88 14.0 670 470 181 185 — WalMin — — — 190 100 320 — 320 WestSand 8.00 2.50 23.2 320 250 85 87 85 AOG — — 24.6 85 53 232 235 232 AmpolExp — — 13.2 232 145 15 17 17 Beach 1.00 5.88 6.0 24 15 114 115 114 Bridge — — 7.1 114 75 9 10 9 Claremont — — — 33 8 120 125 125 Crusader 2.50 2.00 '30.5 130 95 30 34 27 Cultus — — — 53 18 2 4 — Longreach — — — 5 2 190 194 194 Magellan — — 12.6 255 181 4 6 — Magnet — — — 5 3 69 70 70 NZOilGas — — — 70 53 85 87 87 OilSch — — — 87 55 27 30 27 Petrozdd — — — 50 25 424 427 425 Santos 19.00 4.47 13.7 432 326 290 — 290 Vamgas 8.00 2.76 12.7 300 220 — 840 — WeeksPet — — 1.6 900 800 287 289 289 Woodside — — 11.5 297 184