Stock Markets “Jubilant”
(Rec. 11.40 p.m.) LONDON, May 27. Sterling strengthened in value in terms of most other currencies in London as the Conservatives moved towards a comfortable working majority in the General Election. It showed an advance against dollar in the early dealings. Its most marked improvement was against the Swiss franc. Stock markets were in jubilant mood. Steel shares were the first to reflect the market’s mood and gains of between Is and 4s a share were made in the first dealings. This represented capital gains of several millions of pounds, on the confidence of Conservative rule for Britain and the ending for five years of fears that the industry might be renationalised. Industrial shares were well in the forefront of the increased demand and tended to overshadow other sections of the markets in early dealings. The gilt-edged market which consists of Government issues showed gains in War Bonds and other stocks when the first dealings started at 10 a.m.
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Press, Volume XCI, Issue 27670, 28 May 1955, Page 7
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162Stock Markets “Jubilant” Press, Volume XCI, Issue 27670, 28 May 1955, Page 7
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