COMMERCIAL Uncertainties affect London market

Press, Volume CXII, Issue 32958, 3 July 1972, Page 17

COMMERCIAL Uncertainties affect London market

Share prices fell persistently on the London Stock Exchange last week, but there was a firmer tendency evident on Friday afternoon, and on the whole prices were steady at the lower level of Thursday.

Broking sources said the market was very flat, and there was initially some selling of a wide range of stocks, much of it in small parcels.

The afternoon recovery was attributed to bargain hunters moving in on some stocks, and providing selective buying at low prices. Trading was quiet but nervous for most of the week. Australian shares opened at a low level on Tuesday, but prices increased on higher demand on Wednesday before easing again on Thursday. Friday’s price movements were in line with the general movement of equities in London. Woodside was again one

of the shares most sought after.

Among British shares stores were weakest. South African gold shares made outstanding gains during the week. Dollar stocks were easier.

The dollar premium on Thursday was 21 i per cent.

Friday's closing prices.— Ampol, 481; A.N.Z., 347; N.S.W., 450; 8.H.P., 676; Dalgety, 2448; Elder Smith, 1428; Lloyds Bank, 765; Mt Lyell, 78; Nat. Bank, 210; NMA, 58; Nth 8.H.. 938; Plessey, 136; R.T.Z. ord., 2641, and regd, 2581; Sth 8.H., 126; Trans. Dev., 853; West Min, 180; P and O, 234; Prudential “A,” 1878; Reed Paper, 313; Brit. Am. Tob., 3231; 8.L.M.C., 398; Distillers, 1991; Glaxo, 494; 1.C.1., 260; Marks and Spencer, 272; Shell Transport, 322; Unilever, 3521; War Loan, 37i.