Sellers in command in Australia
The Australian sharemarket weakened an Tuesday and wiped out many of the gains made on Monday when prices rose on the lower-than-expected inflation figures. Sellers returned in force to the
market. Falls outnumbered rises about two to one — as was the case at the end of last
week — and the al! ordinaries index fell 5.25 points io 564.99. B.H.P. set the pace and after a 2c gain to 950 c when
|.trading started, finished the I day 28c down at 920 c. | Brokers said the .; underlying factors of little (support from London ahead | of the British election and
no especially goon companynews on the home front had again surfaced. T h e transport and accommodation group Ansett came in for speculative attention after newspaper reports about a mystery buyer acquiring five per cent of the issue capital. The shares gained 8c to ■l2oc on a turnover of 19.-
000. The biggest shareholder. TNT, which has around 13 per cent of Ansett, said it was not a seller but declined to comment further.
: Retailers eased and banking stocks were mixed: ) the Wales lost 10c to 320 c. ■ CSR was among the better : performers and rose 3c to I 358 c.
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Press, 26 April 1979, Page 26
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204Sellers in command in Australia Press, 26 April 1979, Page 26
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