Aust stocks open softer =3 Melbourne

AAP General News (Australia)
12-20-1999
Aust stocks open softer =3 Melbourne

Among the major banks, National Australia Bank was up five cents to $23.07 by 1039
AEDT and the Commonwealth was nine cents stronger at $25.38.

But ANZ had eased five cents to $11.23 and Westpac was down two at $10.48.

At its annual general meeting this morning, ANZ said the first two months of 1999/2000
were tracking close to expectations and the outlook for the full year remained strong.

St George Bank was up three cents to 99 cents by 1040 AEDT.

St George Bank chairman Frank Conroy said on Friday the bank's board would consider
any takeover offer from another bank as though its constitutional protections on ownership
did not exist.

The bank also said it expected to increase underlying earnings next year.

AMP was down 6.4 cents to $16.00 by 1042 AEDT while GIO was five cents higher at $2.42.

GIO Holdings Australia Ltd shareholders approved a Scheme of Arrangment on Thursday
to hand 100 per cent of the company to AMP Ltd.

Elsewhere, Solution 6 Holdings was up another 50 cents to $14.50 after stacking on
$1.85 on Friday.

Solution 6 last week announced the $40 million takeover of Australian on-line legal
and corporate information firm Lawpoint as well as $150 million takover bid for United
States software and product services company, Elite Information Group Inc.

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KEYWORD: AUST STOCKS OPEN 3 MELBOURNE

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