Easy trend in London
Share prices on the London Stock Exchange recovered a little last Friday —- after four successive days of falls. However, the rally failed to make up all the lost ground. The easing trend was mainly because of disappointment over the U.K. trade and money supply figures, while on Friday bargain hunters moved in. Good gains were made by the Australian sector, in response to the Australian Budget. As on the home markets, mining and bank shares led the advance. The Budget announcement of a reduction ■ in the funds banks are reI quired to hold in public i securities and liquid assets, ! together with the prospects ■of lower interest rates i created a keen demand for ■ the banks. However, Friday saw an easier trend, with ; many shares settling back. Closing prices on Friday ■of a selection of shares ; were;— Ampol. 773: A.N.Z . IN.S.W.. 6O0; 8.H.P., 725; Dalgety. 3075; Eider Smith, 2075; Lloyds Bank, 272'.; Mt Lyell, 315; Challenge. 1405; Tsth 8.H., 1285; Plessey, 99; R.T.Z. ord., 252, and regd. 2435; B.H. Sth. 1145; Transdew 8U; West. Mining, 1475; B.A.T. 327 X; Distillers, 197; Glaxo, 6175; ICI, 4025; Marks, 88; P and O 871; Prudential A, 1635; Reec Int.. 1515; Shell Transport, 5725 Unilever. 582; War Loan, 3U; De i Beers. 4425
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Press, 21 August 1978, Page 14
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213Easy trend in London Press, 21 August 1978, Page 14
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