Interest rate hopes boost Aust. shares

Press, 19 December 1989, Page 27

Interest rate hopes boost Aust. shares

NZPA-AAP Sydney Australia’s sharemarket finished the day strongly yesterday, boosted by hopes of easier interest rates and a fall in the Australian dollar. The all-ordinaries index closed 10.1 points up at 1629.2. Brokers said the market indicator had slipped shortly after the start of trading, to a low of 1617.1, following a fall on Wall Street on Friday and doubts about whether the price of gold bullion would continue its climb. But "window dressing” by institutions leading to the end of the quarter, an easier local currency, and selective buying of quality issues, helped lift trading. A jump in gold bullion prices of nearly SUS6.OO an ounce during the week-end lifted buying sentiment for gold and resources stocks, brokers said. Market leader, BHP, rose 6c to 902, Boral 9c to 377, and CSR 10c to 518. Lend Lease gained 20c to 1240. Email shed 10c to 365, and New Corporations lost 25c to 1360, dragging down the media sector. Entrepreneurial investors were mostly weaker, with Adsteam off 6c to 594 and

Bond Corporation down 1c to 14c. Bell Resources was steady at 41c. The banking sector performed strongly, with Westpac up 14c to 567, National Australia 10c to 694, and ANZ 4c to 590. Elsewhere, Elders IXL gained 2c to 220, FAI Insurance 5c to 266, transport giant TNT 4c to 284 and Goodman Fielder 3c to 178. Brokerage house, BBL Mullens, crossed a special sale of 3 million Goodman Fielder shares at 175, below the market price. In a sharply higher gold sector, Australian Development added 8c to close at 198, Dominion Mining was up 6c to 206, Emperor Mines 5c to 360, and Niugini Mining 10c to 255. The firmer gold price also helped Western Mining to gain 8c to 668. Resources giant, CRA rose 15c, to 1105, Bougainville Copper 5c to 165, and MIM 5c to 220. National turnover was 78.8 M shares, worth sAustl49.s9M, with falls exceeding rises to 178 to 155.

Closing quotes Last Industrial Buy Sell sale ANI 165 167 165 nts 435 445 — milts 300 — —

ANZ 586 588 586 AWA 113 115 113 Acmex 197 — — AdelCem 220 225 220 AdelStm 594 596 596 Alcan 212 220 — Alpha 21 23 — Amcor 421 425 425 ApexPac — 65 — Argo 245 246 246 Ariadne 16 17 — Arnotts — 554 550 Arrowfeld 225 240 — AFound 158 160 160 AustOvrs 43 — — BHP 900 —t 900 BTAustE 47 49 48 BTGlobal 68 70 70 BTRNylex 578 580 578 BankQld 350 355 350 BellG —— 44 — BeliRes 40 42 40 BondCorp 14 15 15 BondMed 12 14 13 Boral 374 375 373 Brambles 1315 1320 1315 90nt 180 1430 — Brierley 146 147 146 Bundaberg — 380 380 BurnsP 342 343 342 CCAmatl 1210 — 1210 CIG — 500 500 CSR 510 512 512 Cascade 82 83 83 ClayRPT 32 34 — Clyde 160 170 — CoalAU 890 900 892 ColesMyer — 826 826 Comalco 378 400 378 CorpEqit 100 115 115 Eastcourt 7 8 — Elders 219 220 219 EldersRs 162 165 165

Email 365 370 365 FAI 266 269 266 FineMet 10 20 10 Fletcher 327 335 325 GPT 240 — 242 Girvan 9 10 10 Goodman 177 178 178 HDFI 3 4 3 HardieJ 263 264 264 HelmCorp 91 92 90 Hitek 20 25 — UProp 1750 1780 1750 ICI 590 596 590 lELGrwth 101 — — lELIncme 75 85 — ImaginT 45 47 — IndEquit 218 219 218 Intrchase — 56 — Jennings 195 197 195 JonesDav 1200 1210 1210 Kern 90 95 90 Kimberley 28 35 35 Leda 41 45 41 Leighton 82 85 85 LLease 1240 1250 1240 MayneN 646 652 652 McCDowell 11 14 11 McPhersn 101 — 101 Memtec 360 365 362 MetalMan 280 285 280 NatAust 692 694 690 NatCons 350 353 353 NewsCorp 1360 1365 1360 OPSM 205 206 206 Oakbridge 72 74 74 PacDunlp 478 482 478 Parbury 62 65 — PayceCon 48 53 — nts 65 80 — PetersSl 348 350 350 Pionlnt 239 240 240 QBE 600 620 620 Rothmans 1040 — —

SchroPF 276 277 277 SmithHwd 580 600 580 Stockbge 20 24 23 TAGPac 12 15 — TNT 284 285 284 Taylor — 225 — Trikon 36 48 — TyndAust 27 30 — USMaster 77 81 — Vapocure 1 2 1 Viking 27 28 — Wattyl 420 440 420 WestCptl 180 190 185 WfieldHl 230 250 230 WfieldTr 158 160 160 Westmex 43 44 44 Westpac 574 576 576 WfldCap 39 40 — Wormaid 220 222 222 AUR 17 19 — ACMins 220 225 220 Aberfoyle 490 496 490 Ashton 139 140 139 AustDevl 195 198 198 BHPGold 53 54 53 Bendigo 16 18 17 ctg 3 — — Bougainvl 165 166 165 CNGold 72 73 73 CRA 1105 1110 1105 CarrBoyd 65 70 — CityRes 4 5 4 ConsRes 10 13 — ConRtle 550 560 550 DeltaG 54 55 55 Dominion 205 206 206 ERA 220 225 220 Emperor — 360 360 FPhoenix 5 15 — Forsayth 105 108 108 GMKalg ' 96 97 97 GtFngall 15 16 16 JasonMin 9 11 —

Kidston 302 305 302 Kitchener — 30 — KiwiGold 4 5 — MIM 219 220 220 Metals Ex — 200 — Metana 222 225 225 Moruya — 45 — Niugini 350 355 355 NorthBH 269 270 270 NthFlndr 245 260 — Otter 17 19 — PancontM 195 200 200 Paragon 15 16 16 opt 89 — 1 — Paringa 80 — — Pasminco 225 230 225 PionMin 75 76 75 PlacrPac 323 326 323 Poseidon 263 — 264 QCTRes 141 145 141 RGC 850 — 850 SnsGwlia 590 600 600 SthnPac 35 39 35 Technomin 2 3 2 Tectonic 5 6 — WMC 668 670 670 WalMin — 130 — WestSand 340 345 340 AOG 83 87 85 AmpolExp 195 200 195 Bridge 83 85 85 Crusader — 100 100 CultusPet 20 24 20 Longreach 1 2 — Magellan 170 175 175 Magnet 3 4 — NZOilGas 57 66 57 OilSch 67 68 67 Petroz 27 30 27 Santos 391 392 392 Vamgas 250 — 250 WeeksPet 100 200 150 Woodside 301 305 301