Domestic reports stop rally
British share prices lost ground following the failure of unions and the Government to agree on a pay policy last week. Falls on Wednesday nearly erased sharp gains after the unexpectedly-large October trade surplus. Gold shares eased, following the lower bullion price, while United States and Canadian issues tended higher. Shares drifted in light trading on Thursday on concern over British economic prospects after Treasury forecasts of lower growth, and continuing high Government borrowing in the next 12 months. Hindered by an increased
investment premium rate, leading Australian shares drifted downwards. The closing prices on Friday on some selected shares were: Ampol 60XR; ANZ 2944; NSW 538; BHP 667XD: Dalgety 304SXD Elder Smith 185JXD; Lloyds B 255 J; My Lyell 28; Challenge 117; North BH 1024; Plessey 106XD; RTZ ORD 236 XD, and Regd 2334XD; SBH 115 J; Trans Dev 66|; West Mining 1304; Brit Am Tob 269|; Distillers; 198; Glaxo 5274; ICI 361-4; Marks, Spencer 85; P and O 79J; Prudential ‘A’ 1384; Reed 1514; Shell Trans 5724; Unilevel 538; Brit War Loan 2914; De Beers 346.
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Press, 20 November 1978, Page 18
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182Domestic reports stop rally Press, 20 November 1978, Page 18
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