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Watch for Peter Fisher to rig the stock market again

Section: Daily Dispatches

By Jan Eakin
Sidney Morning Herald
March 13, 2001
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Melbourne's brokers may have been off for Labour
Day yesterday but the Merrill Lynch Sydney office
made up for it by busily buying up stock across
the gold sector.

With the price of the precious metal up more than
5 percent in the past three weeks, some see Merrill
Lynch's active buying as a sign that more strength
is to come. Speculation has been rife that central
banks are planning to tighten up on the lending of
bullion to speculators, mining companies, and

Another positive is the sector's status as a
safe haven in times of economic uncertainty.

Whatever the reason, Merrill Lynch was particularly
keen on Lihir, buying a net 4 million shares out of
the 16 million traded. The share price rose 4c to
72c.Merrill also net bought 2.4 million in Normandy
Mining, up 2c to 99c, and accounted for 10 per cent
of the turnover in Newcrest Mining when it bought
250,000 shares and helped push the price up 35c to
$4.25 the best performer on the ASX200.