Aust. market weakens
The Australian sharemarket weakened in trading yesterday, with falls outnumbering rises by two to one and the major indices falling. The Sydney all-ordinaries index lost 6.12 points to 577.13, while the metals and minerals index lost 43.57 points to 2900.49. Dealers attributed the performance to the uncertainty
• over government interest ; rate policy, little support for - Australian shares in London, i a fall in some commodities ; prices and a lack of good news. i B.H.P. rose in what looked > like a firm early market. ! However, the stock fell sharply late to close down . 20c. Banking, retailing and pro-
perty groups eased on the industrial boards. Leading mining stocks eased, while coal groups were mixed with Utah down 10c, but Bellambi up 10c to 350 c. Gold stocks eased in line with the fall in London and in spite of the later gain in New York overnight. Uraniums were generally down, although Peko rose 8c to 508 c. Woodside Petroleum eased 3c after the latest report on the Pueblo No. 1 well on the North-West shelf said there had been no further hydrocarbon shows.
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Press, 19 April 1979, Page 14
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185Aust. market weakens Press, 19 April 1979, Page 14
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