London market

Press, 6 November 1978, Page 22

London market

I Share prices closed mixed i ;on the London Stock Exchange on Friday, after; news that workers at the! Ford U.K. plant at Dagen-1 ham had voted against i accepting the company’s latest. pay offer — more than treble the Government’s 5 per cent pay norm. I The “Financial Times’’ j industrial index closed steady at 472.4 for a net loss on the week of 10.8 points. The market began the week on a mixed note. Analysts noted concern about the further weakness; in the U.S. dollar and rising interest rates. On Thursday the market firmed in response to moves by President Carter to stem

the decline in the U.S. dol-i lar, but sentiment was undermined by a rise in the base rate by Barclay’s Bank and union wage claims in excess of Government guidelines. Closing prices on Friday of a selection of shares were: Ampol. 62i xr; A.N.Z. Bank, 2825; Bk N.S.W.. 552; B.H.P . 655 xd; Dalgety. 302 i xd; Elder Smith, 189 xd; Lloyds Bank. 2595; Mt Lyell, 30; Challenge, 1245; Nth 8.H., 106$; Plessey, 104 xd; R.T.Z ord.. 237 xd. and regd, 229$ xd; B.H. Sth, 119$; Transp. Dev.. 692 xd; West Mining, 136 A; 8.A.T., 2655; Distillers. 188; Glaxo. 5355; I.C.L, 354?,; Marks : i and Spencer. 81; P and O. Prudential ‘‘A." 1335; Reed (nt.. 1545; Shell Trans., 5555; Unilever. 524; War Loan. 29j; De Beers., 342.