MARKET IN LONDON

Press, Volume CV, Issue 31041, 22 April 1966, Page 15

MARKET IN LONDON

“Wait-And-See” Attitude (Special Crspdt. N.Z.P.A.) LONDON, April 21. The London stock market adopted a “wait-and-see” attitude this week as it awaited today’s Queen’s Speech, opening a new session of Parliament. The overhanging shadow of the Budget, scheduled for May 3, also had a quietening effect. The disappointing March trade figures remained without apparent effect. The Queen’s Speech appeared to be responsible for a firming of nationalisation steels, in which big discount issues advanced. On Sidelines The great majority of bargains were small as institutions are mainly standing on the sidelines until they are able to assess prospects in the light of the new tax situation the Budget brings. Constellation Investments, the pop and entertainment world company, provided a mid-week talking point. The shares slumped to two shillings then fell away again, but they soon recovered some poise and there was a flurry of small buying. There was continued demand for tobaccos. Mines started quietly but there was a later revival in copper. Gilt-edged stocks were firm. Christchurch Building. Interest for the half-year to March 31 to A share members of the Christchurch Building and Land Society is 5 per cent, payable on June 1; ex interest June 1. Last year total interest was 12i per cent including a 2i per cent bonus.