Lower London market after budget cuts
The London share market closed mostly easier in quiet trading after the details of the Government expenditure cuts were announced last week. Government stocks eased in small selling interest, and after the lower rate of sterling. Leading industrials drifted easier in lack of support, with shares mostly down 2p to 4p on Friday after weakening for most of the week.
Banks recovered after results from Lloyds and Midland were reported. Mining were generally
quietly easier in little interest. Some interest was shown in the Australian sector, but most of it was from European buyers. The closing prices on Friday of some selected shares were:— Ampol, 67; A.N.Z.. 4711; N.S.W.. 557 J; 8.H.P., 805; Dalgety, 246 J: Elder Smith. 202 J; Llovds Bank. 2291; Mt Lyell. 80; Challenge. 1571; Nth B.H . 1941; Plessev. 75; R.T.Z. ord.. 230, and regd, 207; Sth B.IL. 2231; Trans. Dev.. 513; West. Min.. 1871; Brit. Am. Tobacco. 3621; Distillers, 1313; Glaxo. 3921; ICI, 356; Marks, Spencer. 101; P and O, 106; Prudential “A,” 121; Reed Int., 2321; Shell Trans., 4281; Unilever, 4391; Brit. War Loan, 25 15/16.
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Press, 26 July 1976, Page 14
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187Lower London market after budget cuts Press, 26 July 1976, Page 14
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