COMMERCIAL London market falls to new low level

Press, Volume CXIV, Issue 33694, 18 November 1974, Page 20

COMMERCIAL London market falls to new low level

Share prices on the London Stock Exchange reached a new 16-year low level last week, after sharp falls on Thursday and Friday. The F.T. index closed at 180.9 c, its lowest level since early August, 1958.

“The City” was worried about the economy—the expectation that more companies' will be asking shareholders to put up more capital, and the cost of the latest' higher than expected “threshold” payments. The retail price index! which triggered of three! threshold payments was largely discounted, dealers said. Towards the close some leading shares rallied on “bear” technicalities. Government bonds eased! up to one-eighth point in' minimal turnover. Oils were dull, with BP lip down. Banks were steadier, gold shares met further, profit taking, but dollar stocks eased.

Australian shares had a dull, week. Towards the end of the week the dollar premium had a beneficial affect, and on the whole prices were remarkably firm.

Closing prices on Friday of some selected stocks were: Ampol, 391; A.N.Z., 1611: N.S.W.. 370; 8.H.P., 474; Dalgety, 115; Elder Smith, 133 J; Lloyds! Bank, 105 J; Mt Lyell, 116; Nat. 1 Bank, 1934; Challenge. 107 j; Nthi 8.H., 112; Plessey, 51; R.T.Z. 0rd.,1 137} and regd., 105; South! Broken HUI. 182; Trans Dev., I

275; West. Mining, 138 j; P and O, 684; Prudential "A,” 57: Reed Paper. 148; 8.A.T.. 1664; 8.L.M.C., 8; Distillers, 843; Glaxo, 212; 136; Marks and Spencer, 113; Shell Transport, 138: Unilever, 1592; War Loan, 201.