UNCERTAINTY ON STOCK MARKETS
Unsettled By Wall Street Decline (N.Z. Press Association—Copyright) LONDON, July 28. Uncertainty has marked the stock markets this week. They are unsettled by the continued decline in Wall Street and reports that prospects have receded of a sharp autumn business revival in the United States. Disappointing British exports, events in Africa, particularly the flare-up in Rhodesia, and the “bombshell” from the big British banks about the increase in overdraft leading to fresh talk about a new credit squeeze on lending —all have contributed to this background. Equity prices have given ground and although selling has not been heavy it is fairly well spread over the leading industrials; and in the absence of buying dealers have been quick to lower quotations. One-Day Recovery The New York stock market’s one-day recovery ran out of steam early today. The brief recovery broke a string of 11 consecutive falls. Trading dwindled steadily from yesterday’s pace.
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Press, Volume XCIX, Issue 29270, 30 July 1960, Page 16
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155UNCERTAINTY ON STOCK MARKETS Press, Volume XCIX, Issue 29270, 30 July 1960, Page 16
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