London market quietly easy

Press, 12 June 1978, Page 20

London market quietly easy

> Share prices on the Lon- : don Stock Exchange declined ■ last week, in light but perJlsistent selling. 1 Towards the end of the week Government stocks 11 rose sharply while leading : equities fell, after British : Government measures to i curb credit. The increase in the minimum lending rate to 10 pet cent from 9 per cent, and /the imposition of special deposits, prompted gains of : up to seven-eighths in long dated Government bonds; I short dates rose I point. Mining stocks remained generally firm, although gold shares declined towards the close — in line with the fall in the price of bullion. However, golds had a net gain for the week. Over all the Australian sector was mixed and subdued, but on Friday the prices of Australian shares picked up, and this sector j closed on a slightly firmer note - • t- -j Closing prices on Friday of a selection of shares were: Ampol. 734: A.N.Z., 302'.; N.S.W., 575; 8.H.P., 657; Dalgets. 2801; Elder Smith, 1954; Lloyds Bank. 270 J; Jtt Lyell, 38; Chai lenge. 143; Nth 8.H., 129; Piessey. 100; R.T.Z. ord, 236 and reg. 229 i B.H. Sth, 100; Transdev . 214; West Mining. 147 J; 8.A.T.. 333’.; Distillers, 176; Glaxo, 575}; 1.C.i., 3861; Marks and Spencer. 139; P and O, 924; Prudential “A.” 146; Reed Int.. 128 J; Shell Transport, 547; Unilever, 526: War Loan, 304.