Aust. market gains

Press, 5 December 1989, Page 47

Aust. market gains

NZPA-AAP Sydney Renewed hopes of a fall in interest rates pushed the Australian sharemarket to its strongest daily gain in more than a month yesterday.

The all-ordinaries index closed 21.8 points higher at 1646.4. “The interest rate factor, combined with a real/•shortage of scrip, pushed the market ahead,” a broker said.

"Wall Street was also ahead 41 points last Friday which buoyed sentiment. “It is the best day we have had in a while but I would not like to say we are having a pre-Christmas rally yet,” he said.

The all-industrials was the strongest index, adding 37.9 points or 1.4 per cent to 2605.4, while the all resources rose 9.9 points to 918.1. The gold index shed 8.6 points to 1751.5.

National turnover failed to clear the sAust2oo million break-even mark, with 93.69 million shares worth sAustl9l.osM traded. Falls narrowly outled rises by 180 to 178.

Among industrials News Corporation and Brambles attracted strong support, rising 70c to 1440 and 60c to 1330 respectively. Market leader, BHP, added 18c to 928 while Coles Myer rose 18c to 836.

CSR added 16c to 516 after trading ex its 16c dividend last week. One broker said CSR was one.of the strongest stock of the past few days, with market recognition that its recent purchase of ARC America Corporation for sAustB4oM in the United States will see “enormous” benefits.

The Bond group of companies recovered from early lows, with the flagship, Bond Corporation, steady at 20c after earlier dipping to a record low of 13c. Bond Media lost 1c to 16c, 1c off its low. Bell Resources shed 7c to 50c after slipping to 48c as doubts over the viability of its

brewing deal with Lion Nathan intensified.

The Bell Group was the sole company in the Bond camp to rise, adding 4c to 48c.

FAI Insurances suffered from its exposure of about sAusts3oM to Bond, slumping 15c to 215 after trading as low as 205. Westmex also bucked the stronger trend falling 4c to 59c, almost half its share price of just over two months ago.

Heavyweight miner, Western Mining, rose 24c to 654, while CRA climbed 20c to 1105 and MIM Holdings managed a 5c gain to 232.

Closing quotes Last Industrial Buy Sell sale AFP 178 180 178 ANI 165 168 168 91 nts 425 435 — 96 nts 300 — — ANZ 580 — 580 AWA 110 115 115 Acmex 197 — — AdelCem 215 220 220 AdelStm 748 754 750 Alcan —- 220 220 Alpha 21 23 — Amcor 424 425 425 ApexPac 80 100 — Argo 243 244 244 Ariadne 18 20 19 Arnotts 550 554 550 Arrowfield 220 230 — AFound 155 160 160 AustOvrs 40 45 — BHP 928 930 930 BTAustE 48 50 48 BTGlobal 73 — —- BTRNylex 586 590 590 BankQld 350 355 350 BellG 46 48 48 BellRes 49 55 50 BondCorp . 20 22 19 BondMed 16 — 16 opt 91 — 1 — Boral 373 374 374 Brambles 1325 1330 1320 90 nts — 1430 — Brierley 162 163 163 Bundaberg 390 398 395 BurnsP 352 353 353 CCAmatil 1150 1170 1160 CIG — 508 500 CSR 516 518 518 Cascade 84 85 84 ClayR 35 40 40 PT 31 34 —

Clyde 145 — 145. CoalAll 886 896 892 ColesMyer 836 840 836 Comalco 383 384 383 CorpEqit 117 125 125 Eastcourt 7 8 7 Elders 231 232 232 EldersRs 190 194 192 Email 388 389 388 FAI 211 218 215 FineMet 21 22 — Fletcher 325 330 332 GPT 240 241 241 Girvan 9 10 10 Goodman 177 180 177 HDFI 3 4 — HardieJ 260 265 260 HelmCorp 88 90 90 Hitek 20 35 — IlProp 1750 1770 1750 ICI 604 610 604 lELGrwth 101 — — lELIncme 75 85 — ImaginT 45 55 — IndEquit 220 221 221 Intrchase 36 55 — Jennings 212 215 215 JonesDav 1230 1240 1240 Kern — 125 120 Kimberley 26 40 — Leda 39 44 40 Leighton 86 87 86 LLease 1200 1205 1205 MayneN 626 628 628 McCDowell 12 15 — McPherson 98 100 98 Memtec 33Q 335 335 MetalMan 283 290 — Nat Aust 704 706 704 NatCons 352 355 352 NewsCorp 1440 1445 1440 OPSM 200 210 202 Oakbridge 67 68 — PacDunlp 485 486 486 Parbury 60 62 62 PayceCon 48 52 — nts 65 80 — PetersSl 353 — 353 Pionlnt 249 250 250 QBE 640 650 650 Rothmans — 1050 1050 SchroPF 267 — 266 SmithHwd 576 578 578 Stockbge 21 24 21 TAGPac 15 16 15 TNT 292 294 294 Taylor — 300 — Trikon — 48 — USMaster 76 — — Vapocure 2 2 2 Viking 25 28 28 Wattyl 426 435 440 WestCptl 185 195 190 WfieldHl 235 245 235 WfieldTr 158 160 159 Westmex 58 60 60 Westpac 564 568 564

WfldCap 36 38 36 Wormaid 240 245 245 AUR 18 22 22 ACMins .210 212 210 Aberfoyle 490 520 — Ashton 136 137 137 AustDevl 160 185 — BHPGold 51 52 52 Bendigo 17 18 17 ctg 4 — —- Bougainvl 160 — 162 CNGold 69 70 70 CRA 1105 1110 1100 CarrBoyd — 75 — CityRes 4 6 — ConsRes 11 13 11 ConsRtle 532 560 — Deltag 54 55 55 Dominion 192 193 193 ERA 220 225 — Emperor 355 360 360 FPhoenix 5 15 — Forsayth — 125 125 GMKalg 94 95 94 GtFngall 17 20 — JasonMin 11 12 12 Kidston 293 295 295 Kitchener — 37 — KiwiGold 4 4 4 MIM 232 233 233 MetalsEx — 208 — Metana — 235 235 Moruya 42 45 45 Niugini 350 355 350 NorthBH 270 271 270 NthFlndr 256 — 256 Otter 18 19 — PancontM 203 205 204 Paragon 16 17 17 Paringa 83 90 — Pasminco 221 223 222 PionMin 71 73 70 PlacrPac 332 335 335 Poseidon 262 265 265 QCTRes 138 140 139 RGC 880 890 886 SnsGwlia 610 616 610 SthnPac 30 36 30 Technomin 3 4 — Tectonic 4 5 — WMC 652 654 654 WalMin — 178 — WestSand 360 370 —- AOG 80 82 80 AmpolExp 185 188 188 Bridge 86 90 90 Crusader 90 98 95 CultusPet 12 22 — Longreach 3 4 — Magellan 200 205 — Magnet 4 4 — NZOilGas 57 60 57 OilSch 68 69 68 Petroz 28 30 28 Santos 374 378 375 Vamgas 260 300 260 Woodside 285 288 285