London market quiet, firm
Share prices advanced a little in quiet trading on the London Stock Exchange last week. Government stocks were easier, in response to the weakness of sterling and fears of an increase in the minimum lending rate. Trading in options picked up to around the opening level after a slow start, with interest centred on Marks, and Grand Met. Dealers noted a press recommendation to switch from Grand Met warrants to Grand Met January 110 options as a factor "behind some of the activity. The Australian sector had a good week, influenced by gains on Australian home markets and the rising investment dollar premium. The drop in Australia’s inflation rate also improved investor sentiment.
Closing prices on Friday of a selection of shares Ampol, 765; ANZ, 2575; NSW, 500; BHP. 613; Dalgety, 2545; Elder Smith, 182$; Lloyds Bank, 2694 • Mt Lyell, 22; Challenge, 126? Nth 8.H.. 109; Plessey, 98: RTZ ord, 216, and regd, 1995: BH Sth. 754; Transdev., 673: West. Mining, 120$; 8.A.T., 310$; Distillers, 180; Glaxo, 5395; ICI, 3415; Marks and Spencer, 146; P and O, 97-1; Prudential “A,” 147; Reed Int.. 118; Shell Transport, 5524; Unilever, 506; War Loan, 325."
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Press, 1 May 1978, Page 21
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196London market quiet, firm Press, 1 May 1978, Page 21
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