London market easier

Press, 27 August 1979, Page 20

London market easier

Gold shares were sharply firmer on the London Stock Exchange last week after the record bullion fixing — with prices showing gains of up to 200 c. Other share prices closed slightly higher on Friday in low volume at the end of the fortnightly account, with activity affected by the forthcoming Bank Holiday week-end, dealers added. However, at the end of the week prices were still well below the closing prices of the previous Friday. Most of the decline occurred on Monday, prices were fairly

stable during the remainder Of the week. American and Canadian shares were easier. The Australian sector was firm: in London also the Australian Federal Budget was well received. Ampol gained on the strength of tax concessions for new onshore oil exploration. Woodside also benefited from this news. But generally it was Australian institutional shares, situation stocks, and isolated speculative issues which fared best in London. Aus-

tralian retailers were alsoi sought, and very steady as a result, but the banks were', mixed. Closing prices an Friday, I of a selection of shares" ' were: Ampol. 56 xr; A.N.Z.. 21,41 xr;> 1 N.S.W., 171 J xr; 8.H.P., 545; Dalgety, 2804; Elder Smith, 1094 xd;i Lloyds Bank. 20R xd; Mt Lsell,. ; 48; Challenge, 1054; Nth B.H:,< 111; Plessey, 117; R.T.Z. ord., 29:1,. and regd. 2»7J; B.H. Sth. 11U;> Transdev.. 69j; West. Mining, 1621; 8.A.T., 2804; Distillers. 222; Glaxo. 4424; LC.L. 359’; Merks, and Spencer, 108; P and O. 100 J; . Prudential "A,” 1614; Reed Int . 1654; Shell Transport. 322; Unilever. 500; War Loan. 33j; De > Beers, 753. , ■