COMMERCIAL London market drifts in dull trading

Press, Volume CXIV, Issue 33520, 29 April 1974, Page 17

COMMERCIAL London market drifts in dull trading

Ihe London sharemarket drifted downward for most of last week, with talk of a possible General Election in June inhibiting interest. However, there was a mild rally on Friday, although prices were mixed.

T-admg was quiet, with volumes at a low ebb. Government bonds eased [ on interest factors, Canadian and U.S. dollar stocks lost ground, and oils were also generally lower. Gold shares weakened with the bullion price, while sentiment in this sector was, further depressed after the political coup in Portugal:' dealers appear to be worried about the possible repercussions in South Africa. Trading was subdued for ! most of the week. However, on Friday a technical rally recouped a little of the losses. Bargainhunting was the main cause, but some investors seemed to be influenced by President Nixon’s optimistic

statements about economic! prospects in a speech in ■ t Mississippi; Mr Nixon pre- i dieted that the present econ-i omic downturn would leveli [off in the present quarter,! and that the economy then Would pick up in the second! half of the year. Closing prices on Friday! of some selected stocks |were:LONDON Ampol. 45}; A.X.Z.. 3885; N.S.W.. 622 j; 8.H.P.. 647 J; Dal-| igety. 253}; Elder Smith, 200;! .Lloyds Bank, 2201; Mt Lvell, 1275;! Nat. Bank. 283}; XMA. 143}; Nth! 8.H.. 127: Plessev, 94; R.T.Z. ord.,! 284 and regd. 177: S.B.H, 224;! Transdev.. 421; West. Mining,, 128}; P and O, 124: Prudential! "‘A.’’ 112: Reed Paper. 216;! 8.A.T., 259}: B.L.M.C, 12j; Dis.l ; tillers. 1283; Glaxo. 384; 1.C.1.. 219: Marks and Spencer, 165; i Shell Transport, 236; Unilever, 2931; War Loan. 233.