COMMERCIAL London sharemarket quiet hut firm

Press, Volume CXIV, Issue 33438, 21 January 1974, Page 19

COMMERCIAL London sharemarket quiet hut firm

Although most issues ruled below earlier "highs." the sharemarket on the London Stock Exchange closed firm, in moderate trading. On Friday the F.T. index recorded .!.>6.9. compared with .■’>37.B at the previous Friday's close.

Earlier in the week prices drifted lower, under the bearish influence of the deadlock in the talks aimed at settling the miners' dispute, the uncertain economic situation, and continued speculation about an early General Election. But on Friday sentiment was helped by the announcement of immediate measures to improve steel production, and a possible relaxation of power supply restrictions on British industry, and share prices improved. Gold shares were strong throughout the week, but

tended to fall towards the close. There was more activity in the Australian sector during the week, and it would appear that British investors. who deserted the Australian stocks after a series of shocks last year, are coming back. “There is genuine interest creeping in,” a broker said, “it is now a strong market, with a lot of good interest.” Brokers said that the current activity in the Australian sector was still lower than before it slumped. “It iis not by the people who l were actively engaged in the past, but there is a bit coming on." B.H.P. and Bougainville. : were the most keenly sought I shares; Peko Wallsend was -another favourite.

Closing prices in Friday of some selected stocks were: Ampol. 60; A.N.Z.. 413'.; N.S.W., 667 J; 8.H.P., 815; Dalgety. 2341; Elder Smith 195; Llovds Bank. 26(1’.; Mt Lyell, 126; Nat Bank. 2781; NMA, 1331; Nth 8.H., 121; Plessey 9-1; R.T.Z. ord. 234, and regd, 196'.; 8.1-I. Sth. 224; Transdev., 403; West. Mining, 136}; P. and O. 135: Prudential “A,” 135: Reed Paper. 198; 8.A.T.. 2591; 8.L.M.C.. 19}: Distillers. 1451; Glaxo, 396; ICI, 203; Marks and Spencer. 214; Shell Transport, 233; Unilever. 3132; War Loan. 28.