COMMERCIAL LONDON STOCK EXCHANGE

Press, Volume XCIX, Issue 29401, 31 December 1960, Page 16

COMMERCIAL LONDON STOCK EXCHANGE

Trading Quiet After Break (IV.Z. Press Association—Copyright) LONDON, December 29. The resumption of dealings in the London Stock Market after the Christmas holidays was quiet The long three-week account ended yesterday and though selling was small prices went into a gentle decline. There was scarcely any “new time” buying for fresh account beginning today. In the industrial market price changes were small, but sentiment was affected by the persistent dullness of 1.C.1., which lost Is 6d to 62s 6d on rumours of a coming new issue. There was a later rally to 63s fid. British funds and oils were Inclined to be easier. The tide turned against shipping where losses were recorded, but steels managed to pick up a little.,Golds had some glitter about them. “The Guardian” financial editor comments that the 1960 stock market has not fulfilled hopes widely held a year ago, but it ends with the “Financial Times” industrial share index only just over 10 per cent, down on the year, which is no more than a recognition that profits have become harder to make. Looking back over the trends of the year one can hardly deny any longer that according to the accepted theory “bear” market has been in progress ever since shares fell back sharply from the all-time peak reached on January 4 this year.