LONDON STOCK MARKET

Press, Volume CIII, Issue 30365, 14 February 1964, Page 15

LONDON STOCK MARKET

Sudden Sparkle Develops (Special Crspdt. N.Z.P.A.) LONDON, February 13. After a somewhat subdued though basically firm start to the new account, a sudden sparkle developed on the London Stock Exchange' and many sections made a brighter showing. There were plus ■ signs aplenty, with some of the leading stocks rising sharply. Dealers say that more people seem to be realising that there are cheap buys on the market after the recent shakeout. The general tone is described as good, in spite of a reluctance to do business in the early days of the account. Selective purchases by the institutions help to push prices higher. Temporary Rally? The state of the market in the next two days should help to show whether last week’s recovery in the equity section, and yesterday’s improvement, are anything more than a temporary technical rally. Financial comment ato r s maintain that politics is still the dominant factor influencing the market, and is likely to remain so until the election is decided. This, however, has not prevented institutional investors, who are able to take a very long-term view, from being ready to pick up good quality shares whenever prices stop falling.