Profit-takers pull Aust, down

Press, 7 September 1989, Page 24

Profit-takers pull Aust, down

NZPA-AAP Sydney

Australia’s sharemarket closed marginally weaker yesterday as its latest profit-inspired rally ran out of steam amid profittaking and futures and options related trade.

The all ordinaries index closed 0.7 points off in late trading at 1776.7, down from its earlier high at 1786.6. “Institutions weren’t aggressively chasing stock at higher levels,” one broker said. “Overseas buyers have been noticeably absent from the market for the past couple of days and locals have been just topping up — mainly in resource stocks,” he said.

National turnover was 119.30 million shares worth sAustB.74 million with rises narrowly outnumbering falls. Transport blue chip stock Brambles ended the day steady at 1430 after posting a yearly group equity net profit of sAust6.osM. TNT’s 10c loss to 355 dragged down the transport sector, after its worse than expected 7.2 per cent profit rise announced

adding that the domestic pilots’ dispute was adding to bearish sentiment for the company. Among the industrials, retailer David Jones put on 20c to 1140, as did its parent, Adsteam to 870. Coles Myer shed 6c to 920, while Boral added 5c to 434 and market leader BHP was steady at 1055. • News Corp helped to bring down the media sector with a 10c loss to on Monday.

“I think many people have now downgraded TNT,” one broker said, 1685.

FAI lost 5c to 323 after gaining 2c on Tuesday. Banking stocks were mixed, with Westpac putting on 2c to 534 while ANZ lost 8c to 516 and National Australia 2c to 630.

In the resources sector, Bougainville Copper suffered a 30c drop to 220 after news on' Tuesday that its Panguna Mine in Papua New Guinea would be closed indefinitely. But CRA jumped 30c to 1215 after the announcement on Tuesday of a better - than - expected sAust3llM interim result. Western Mining added 8c to 678 and MIM 1c to

272. Mineral sands producer, Consolidated Rutile, surged 40c to 1300. In the gold sector, ACM gold added 4c to 214 and Poseidon 10c to 310.

Closing quotes Last Industrial Buy Sell sale AFP 188 190 188 ANJ 141 144 141 91 nts 351 352 — 96 nts 250 277 250 ANZ 516 518 518 AWA dd 127 128 128 Acmex 195 198 — AdelStm 860 870 870 Alcan 245 250 250 Alpha 21 22 — Amatil 1220 1235 1235 Amcor 481 482 481 ApexPac 85 100 — Argo 259 260 259 Ariadne 17 18 18 Arnotts 640 650 650 Arrowfid 265 270 — AFound 168 170 170 AustOvrs 45 46 46 BHP 1055 1060 1055 BTAustE 55 56 56 BTGlobal 67 68 67 BTRNylex 630 632 632 BankQld 380 500 — BellG 56 58 56 BellRes 84 88 86 BondCorp 43 44 43 BondMed 22 23 23 opt 1 2 1 Boral 432 433 433 Brambles 1420 1430 1430 nts 1540 — 1540 Brierley 201 202 201 Bundaberg 377 380 377 BurnsP 357 359 358 CIG 510 534 — CSR 524 526 524 Cascade 97 98 98 Chase 3 4 4

ClayR 58 60 60 ClayRPT 37 39 — Clyde 163 168 165 CoalAlI 880 890 890 ColesMyer 916 924 920 Comalco 450 455 455 CorpEqit 142 150 142 opt — 70 — Cortaus 1 2 — Eastcourt 10 13 13 Elders 300 301 300 Elders Rs 288 295 290 Email 446 450 446 FA! 322 323 322 Fletcher 424 428 423 GPT 260 262 262 Girvan 26 28 28 Goodman 233 — 233 HDFI . 5 9 — Hanimex 200 205 205 HardieJ 290 294 294 HelmCorp 101 104 104 Hitek 33 35 34 IlProp 1800 1830 1800 ICI 652 660 660 lELGrwth 101 — — lELIncme 75 85 — ImaginT — 55 50 IndEquit 225 226 225 Intrchase 100 105 — Jennings 232 235 235 JonesDav 1140 1150 1140 Kern 140 155 — Kimberley — 80 — Lrchhill 1 2 2 Leda 41 44 41 Leighton 86 88 —- LLease 1265 1275 1270 MayneN 696 698 698 McCDowell 18 19 19 McPherson 107 110 — Memtec 360 365 360 MetalMan 340 355 350 NZICorp — 55 — NatAust 628 632 630 NatCons 365 368 365 NewsCorp 1685 1690 1685 OPSM 195 198 198 Oakbridge 72 73 72 PacDunlp 512 514 512 Parbury 82 86 84

PayceCon 53 55 53 nts 80 82 80 PetersSl 345 347 345 Pionlnt 300 303 300 QBE 610 — — Qintex 300 385 385 ReilCorp 260 — — Rothmans 1020 — 1025 SchroPF 292 295 292 SmithHwd 572 574 572 SthnFarm 420 435 — Stockbge 34 35 35 TAGPac dd 20 22 — TNT 355 356 355 Taylor — 180 — USMaster 76 80 — Vapocure 3 4 — Viking 41 44 42 Wattyl 530 550 530' WestCptl 225 230 .230 WfieldHl 300 303 303 WfieldTr 177 179 176 Westmex 144 145 145 Westpac 534 536 536 WfldCap 46 49 — Wormaid 270 275 270 ADR 19 21 19 ACMins 217 220 217 Aberfoyle 620 — — Ashton 163 165 165 AustDevl 160 165 160 BHPGold 50 . 51 51 Bendigo 17 19 — ctg 5 — — opt — 5 — Bougainvl 220 225 220 CNGold 56 57 — CRA 1215 — 1215 CarrBoyd — 80 80 CityRes 9 10 10 ConsRes 12 ' 14 — ConsRtle 1310 1325 1300 DeltaG 56 57 57 Dominion 170 172 172 ERA 220 230 225 Emperor 400 — 400 FPhoenix 8 25 — Forsayth 192 195 195 GMKalg .79 80 79 GiantRes 47 48 48 GtFngall 16 17 —

JasonMin 17 19 — Jlana 5 6 —■ Kidston 240 245 240 Kitchener 41 44 — KiwiGold 5 7 6 MIM 270 271 271 MetalsEx 180 200 — Me tana •320 325 325 Moruya 35 40 38 Niugini 350 — 350 NorthBH 333 335" 335 NthKalg 28 30 — NthFindr 220 240 —— Otter 21 24 21 PancontM 212 218 212 Paragon 19 20 19 opt 6 7 — Paringa — 86 85 Pasminco 265 267 267 PionMin 89 90 90 PlacrPac 312 315 315 Poseidon 305 310 310 QCTRes 145 146 145 RGC 900 910 910 SnsGwlia 570 580 — Spargos 11 12 11 SthnPac 32 35 35 Technomin 7 8 7 Tectonic 7 8 — TitanRes dd 30 31 30 opt dd 9 11 9 WMC 674 — 676 WalMin 181 185 181 WestSand 330 350 335 AOG 76 80 — AmpolExp 236 240 240 Beach 14 15 15 Bridge 113 114 114 Claremont 9 10 9 Crusader 110 117 110 Cultus 35 37 35 Longreach 2 4 — Magellan 190 195 190 Magnet 5 6 — NZOilGas 71 74 71 OilSch 82 84 82 Petroz dd 32 33 32 Santos 425 427 427 Vamgas 290 295 290 WeeksPet — 800 — Woodside 292 295 290