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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Terry Rose who wrote (18773)	9/13/1998 10:19:00 PM
From: goldsnow	Respond to of 116764

Australian Stocks Rise, Led by Gold Mining and Banking Shares Australian Stocks Rise, Led by Gold Mining and Banking Shares Sydney, Sept. 14 (Bloomberg) -- Australian stocks rose, led by stocks such as Australia and New Zealand Banking Group Ltd., after a rebound in U.S. markets. Gold producers such as Normandy Mining Ltd. gained after the gold price rose. The All Ordinaries index rose as much as 27.9 points, or 1.1 percent, to 2496.2, after falling 58 points, or 2.3 percent, Friday, its biggest one-day fall since January 12. In the first 15 minutes, 113 stocks in the index rose, and 20 fell. Shares in ANZ rose as much as 15 cents to A$8.60 (US$5.13), after falling 18 cents Friday. Broken Hill Proprietary Co., Australia's largest resources company, rose as much as 19.1 cents to A$12.35, after falling 28.5 cents Friday. ''There's starting to be a little bit of optimism coming through,'' said Bill Chatterton, director of equities at Morgan Stockbroking Ltd. in Brisbane. ''A lot of the U.S. banks have really been hammered in a big way because of exposures in markets which our banks don't have.'' Friday's decline in Australian stocks came after the Dow Jones Industrial Average of major U.S. stocks, which often sets the tone for Australian trading, fell 3.2 percent. The Dow rebounded 179.96 points, or 2.4 percent, to 7795.50 on Friday after Australian markets closed, led by banks such as American Express Co., which jumped 12.8 percent. Normandy, Australia's largest gold producer, rose as much as 5 cents to A$1.34 after the active December gold contract gained US$3.00 to US$296.80 on the Comex division of the New York Mercantile exchange. bloomberg.com