LONDON STOCK MARKET

Press, Volume CI, Issue 29827, 21 May 1962, Page 16

LONDON STOCK MARKET

Disappointing Week (N Z PA.-Reuter—Copyright) LONDON. May 18 It was an extremely disappointing week in stock markets last week, according to Reuter's financial correspondent. News that a dock strike had been averted brought a sharp upsurge in priced on Monday. The improvement was continued on Tuesday, but buying subsequently died and from then on prices declined and many initial gains were lost. Exceptions to the trend were gilt-edged securities which steadily advanced on some investment buying and a sharp rise in South African gold shares in response to American and some Continental support. Uncertainties The removal of the dock strike threat was offset by many Oncertafcties still restraining markets. Even the satisfactory April trade figures and the further increase in industrial production in March failed to stimulate either interest or activity. Restraining influences were uncertainty over the course of Wall Street, in spite of its somewhat better performance recently, the local election results, the situation in Laos, and some nervousness regarding the course of negotiations for the United Kingdom to join the Common Market.