London Stock Market Again Firm

Press, Volume CII, Issue 30115, 26 April 1963, Page 17

London Stock Market Again Firm

(N-Z. Ptua AuocuMon—ComirtghX) LONDON, April 25. The London Stock Exchange started the week with renewed firmness. Prices continued to move upward, but as the week progressed markets lost some of the buoyancy. - Trading was quieter with investment and speculative interest much more selective and in many cases losses followed gains after further profit taking.

Both industrials and giltedged eased back. Financial commentators say that after the widespread advance of the previous two weeks the current pause was overdue. They think that underlying investment sentiment shows no real signs of softening. “It ie the buyers who are lying in wait for any drop in prices so they can get what they want. rather than sellers itching to take profits.” says the "Guardian’s” financial editor. This note of optimism is echoed by “The Times,” which suggests evidence that Britain's economy might at

last be on the move again is beginning to accumulate. It soys the feeling is growing that the Chancellor’s Budget and other measures will give industry the necessary fillip.

“The March overseas trade returns were distinctly encouraging and recently published statements from a widely diversified batch of major companies have Indicated that business took a turn for the better in the second half of 1962 and that profit margins are recover-

“All thia suggests that the demand tor industrial shares may weU increase and as the market still is ill-supplied with shares to current prices it could respond quickly, Gilt-edged securities, too, are a< present particularly sensitive to demand because erf the shortage erf 'stock in the