Sharp falls in London
Share prices fell sharply last week on the London Stock Exchange, because of the weakness of sterling. The news of the rise in the Bank of England’s minimum lending rate and a call for further special deposits accentuated the decline. Australian shares slumped in London after the moves by the Australian Government to curb the money supply. Closing prices on Friday of a selection of shares were:
Ampol, 722; A.N.Z., 343J;N.5.W. 5324; 8.H.P., 775; Dalgety, 195|; Elder Smith, 100 J; Lloyds Bank, 1671; Mt LyeU, 55; Challenge, 1791; Nth 8.H.. 2161; Plessey, 62; R.T.Z. ord, 1791, and regd, 156; B.H. Sth, 145; Trandev, 393; West. Mining, 1781; 8.A.T., 2371; Distiller, 1053; Glaxo, 2971; ICI, 278; Marks and Spencer. 77; P and O, 941; Prudential “A,” 90; Reed Int.. 1941; Shell Transport, 3621; Unilever, 356; War Loan, 24.
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Press, 11 October 1976, Page 20
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141Sharp falls in London Press, 11 October 1976, Page 20
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