AUSTRALIA Bargain hunters push up prices

Press, 30 November 1989, Page 34

AUSTRALIA Bargain hunters push up prices

NZPA-AAP Sydney Renewed buying interest in leading issues and afternoon bargain-hunting pushed the Australian sharemarket to a stronger close yesterday. The all-ordinaries index finished 7J points up at 1607.5, from its early low at 1597.8. “It is encouraging to see fresh buying in the leaders in view of all the gloom and doom we have had recently,” a Capel Court Powell broker, Mr John Paterson, said. The stronger close however, “may only be a temporary uptick,” he said. The all-industrials index jumped 9.7 points to 2543.6, the all-resources rose 5 points to 896.6 and the gold marker 4.3 points to 1768.4. National turnover totalled 87.45 million shares, worth sAustl9l.62M, with falls exceeding rises by 214 to 151. Bond Media closed 3c firmer at 18, but was off its high for the day of 19c. On Tuesday, Bond Media sank sc, amid speculation that Mr Kerry Packer was preparing to make a bid for it. Bond Media said, however, it was considering issuing new capital to help meet its sAust2ooM debt to Mr Packer. Meanwhile, Bond Corporation shed 2c to 28 and Bell Resources 10c to 66, amid speculation that there might be other offers for Bond Corporations brewing interests. There was speculation the brewing assets could be sold

at a lower price than Lion Nathan’s sAust2.s billion bid, brokers said. Elsewhere among the entrepreneurial investors, Asteam was down 4c to 736 and Elders IXL 3c to 221. In a stronger industrial sector, market leader, BHP, jumped 18c to 886, CSR 6c to 506 and Pacific Dunlop 9c to 466. News Corporation gained 30c to 1330. Brambles led the transport sector higher, with a jump of 35c to 1265, while Mayne Nickless was up 4c to 604 and TNT steady at 283. Banks were mostly firmer. National Australia rose 4c to 678, as did ANZ to 552, while Westpac gained 6c to 526. In a stronger resources sector, CRA gained 10c to 1075. and MIM 7c to 223. Western Mining was down 12c on turnover of 3 million shares.

Closing quotes Last Industrial Buy Sell sale AFP 180 182 182 ANI 162 163 163 91 nts 400 420 — 96 nts 295 300 — ANZ 550 552 552 AWA 110 115 120 Acmex 197 — —• AdelCem 216 220 220 AdelStm — 736 736 Alcan 205 220 — Alpha 20 23 23 Amcor 418 420 420 ApexPac 100 — 85 Argo 243 244 243 Ariadne 19 20 19 Arnotts 550 560 560

Arrowfield — 230 — AFound 158 160 160 AustOvrs 40 45 — BHP 884 888 886 BTAustE 46 47 47 BTGlobal 73 — 73 BTRNylex 568 570 570 BankQld — 365 — BellG 42 44 42 pf 10 — — BellRes 65 66 66 BondCorp 28 30 28 BondMed 16 18 18 Boral 346 348 348 Brambles 1260 1270 1265 90 nts — 1430 — Brierley 164 165 165 Bundaberg 393 395 395 BurnsP 342 344 344 CCAmatl 1160 1175 1175 CIG — 500 — CSR 504 506 506 Cascade 86 87 86 ClayR — 45 — PT 34 35 — Clyde — 140 140 CoalAU 878 886 — ColesMyer 814 820 810 Comalco 369 370 370 CorpEqit 125 130 125 Eastcourt 8 9 —— Elders 221 223 223 Elders Rs 188 — 189 Email 382 385 385 FAI 265 268 268 FineMet 21 22 — Fletcher 322 325 325 GPT 240 242 240 Girvan 9 10 10 Goodman 181 185 182 HDFI 3 4 3 HardieJ 246 250 246 HelmCorp 90 92 92 Hitak 20 35 — UProp 1750 1795 — ICI 606 610 606 lELGrwth 101 — — lELIricme 75 85 — ImaginT 45 46 45 IndEquit 221 223 221 Intrchase 50 58 — Jennings 212 215 215 JonesDav 1240 1250 1250

Kern 125 — 125 Kimberley 25 40 —• Leda 48 49 48 Leighton 86 87 87 LLease 1170 1175 1175 MayneN 604 610 604 McCDowell 12 15 — McPherson 95 100 — Memtec 320 330 325 MetalMan 280 282 280 NatAust 676 678 678 NatCons 346 348 346 NewsCorp 1330 1340 1330 OPSM 195 200 195 Oakbridge 66 67 — PacDunlp 466 470 466 Parbury 63 65 63 PayceCon 48 56 54 nts 65 80 — PetersSl 342 345 345 Pionlnt 233 235 233 QBE 646 650 646 Rothmans 1010 1020 1015 SchroPF 267 268 268 SmithHwd 554 600 554 Stockbge 20 22 — TAGPac 15 16 — TNT 282 284 282 Taylor 250 300 — Trikon 30 48 — 76 77 — Vapocure 2 2 2 Viking 30 32 30 Wattyl 440 445 — WestCptl 185 210 190 WfieldHl 228 230 228 WfieldTr 156 157 157 Westmex 79 80 79 Westpac 524 526 524 WfldCap 38 39 39 Wormaid 235 240 240 AUR 17 18 18 ACMins 204 208 208 Aberfoyle — 500 500 Ashton 137 140 137 AustDevl 160 175 — BHPGold 50 51 50 Bendigo 17 20 17 ctg 4 — — Bougainvl 156 160 160 CNGold 70 71 70 CRA 1070 1080 1075 CarrBovd — 75 —

CityRes 5 6 5 ConsRes 10 11 10 ConsRtle 522 530 528 DeltaG 51 53 53 Dominion 195 196 196 ERA 225 227 225 Emperor 350 359 360 FPhoenix 5 15 — Forsayth 145 148 150 GMKalg 94 95 95 GtFngall 19 20 19 JasonMin 11 13 — Kidston 298 300 298 Kitchener — 37 — KiwiGold 4 4 4 M1M 224 225 224 Metana — 255 255 Moruya 42 45 42 Niugini 335 340 340 NorthBH 264 266 265 NthFlndr 270 273 270 Otter 18 19 — PancontM 200 205 205 Paragon 17 18 18 opt 89 — •2 — Paringa 88 90 90 Pasminco 228 230 230 PionMin 73 74 74 PlacrPac 346 347 346 Poseidon 260 262 260 QCTRes 139 140 139 RGC 876 886 876 SnsGwiia 610 620 610 SthnPac 30 33 31 Technomin 3 4 4 Tectonic 4 4 5 WMC 614 616 614 WalMin 172 178 172 WestSand 360 370 365 AOG 75 78 75. AmpolExp 176 180 180 Bridge 86 88 86 Crusader 90 102 92 CultusPet 22 24 24 Longreach 3 4 3 Magellan 195 200 200 Magnet 4 5 — NZOilGas 57 58 57 OiiSch 65 67 65 Petroz 30 32 30 Santos 370 375 375 Vamgas 254 260 254 Woodside 290 293 290