NEW YORK RALLYING

Press, Volume CVI, Issue 31154, 2 September 1966, Page 14

NEW YORK RALLYING

Dow Jones Up

(N.Z.P.A. -Reuter—Copyright) ; NEW YORK, Aug. 31. The New York stock market today embarked on the long voyage back to prosperity, staging one of the biggest rallies of the year on heavy trading. Speculators, eager to make a quick profit as prices steadily climbed, slowed down the upwards rush just before the close, but financiers hoped the forward course would be maintained. The Dow Jones average of 30 industrial stocks—key indicator of Stock Exchange health—closed at 788.41, up 12.69 points; An hour earlier it had been up 15.20. The rise was led by glamour shares such as electronics, aerospace and airlines which showed gains up to four dollars, but gilt ! edged stocks rose one to two points. On the final day of August trading 7500 m U.S. dollars was added to values, bringing the two-day total to 14,500 m U.S. dollars. Share prices rallied in the London stock market yesterday, a special correspondent reported from London today. By noon yesterday the Financial Times index was 2.8 up at 299.8—its best performance for some time, in spite of quiet business.