BRITISH FIGURES.

Auckland Star, Volume LXVIII, Issue 235, 4 October 1937, Page 4

BRITISH FIGURES.

IRREGULAR MARKETS. DAILY CHANGES RECORDED. N.Z. STOCKS FAVOURED. (Received 10 a.m.) LONDON, October 3. The course of the markets throughout the week has been so irregular that the outlook has changed almost hourly. The gilt-edged is the only group showing real stability. New Zcalands are favoured, owing to satisfaction with the Budget. Industrials have been alternatively losing and gaining, but there have been few substantial changes on the balance.

Base metal and rubber shares declined owing to a break in commodities.

The technical position of all markets is considered to b"e most sound, and while there has been a certain amount of disselling this has not reached large dimensions. Contrariwise, business is so slow that markets have declined underselling of modest proportions that would be easily absorbable ill normal times.

There lias been some revival from the mid-week break in metals, which was believed to have involved a Dutch firm ill difficulties. The outlook largely depends upon the attitude of American consumers. Unless these come into the market prices cannot advance, and are even unlikely to be maintained at present levels. Butter and Cheese. There has been a rapid appreciation and an active inquiry for all descriptions of butter. There is now little margin between the best and the cheaper kinds. The strength of the Continental situation suggests that support of Empire varieties will continue. Some traders expect a further advance. Consumption is maintained, as retail prices have not been advanced in proportion. Spot values of New Zealand cheese are also dearer, but the improvement is not extended to Canadian. The outlook, however, appeals firm. Position of Wool. Leading topmakers in Bradford suggest that some responsibility for the recent decline in wool values rests upon brokers, who offered more wool at the auctions than buyers were able to absorb. If, instead, there had been modified offerings in accordance with demand, values would have been maintained.