MARKET IN LONDON

Press, Volume CIII, Issue 30588, 3 November 1964, Page 17

MARKET IN LONDON

Politics Still An Influence (N.Z.P.A.-Reuter —Copyright > LONDON, Oct. 30. Politics have again been a major influence on sentiment in London Stock Markets over the last week. There is now a tendency to hold off until after Tuesday when there will be the Queen’s speech at the opening of Parliament and the United States presidential election. It has been a good week for gilt-edged where buying was stimulated by the good recovery in sterling and the reassuring statement in America by the British Foreign Secretary that there would be no early movement in the bank rate. Equities Gain In equities, gains easily outnumbered losses and there were many good features, some reflecting company statements. 1.C.1. have shown up well and B.M.C. and Leyland Motors have gained more ground. Tube Investments, Guest Keen, Metal Box, Fisons, Reed Groun and Bats have been outstanding. Turner and Newall and Hawker Siddeley have been among those to lose ground. Gold shares fell from favour and ended the week with fairly widespread falls in spite of a rally on Friday. Chartereds have led coppers lower. Tins have made good headway in response to the rise in the metal price and some very good company statements. Oils gained ground on most days and B.P. were particularly favoured but some of the gains were reduced on Friday. Business Personal Mr R. J. Daly, manager of the Christchurch branch of the New Zealand Insurance Company, Ltd., since 1949, will retire on December 10. Mr M. H. Mabin, assistant manager, will be appointed manager and Mr I. D. Bell, senior inspector, will be appointed assistant manager.