London market easy
Share prices on the London Stock Exchange fell steadily last Week, in subdued trading. ’’ Government Bonds ended a mixed week with falls ranging to ]- point after the news that Citibank and First National Chicago raised prime rates to 16} per cent. Apprehension was noted ahead of a possible new “tap” stock issue. Earlier in the week, government bonds gains ranging to } point among shorter maturities on speculation of a lower-than-expected public sector borrowing requirement for 1980-81, and news that workers at BL’s Lonbridge car plant had voted against a strike. Oils closed lower on pro-fit-taking, but banks were sharply higher after publication of increased Lloyd's results for 1979. .
Golds fluctuated in a wide range — some as much as $7 — as prices attempted to keep track of fluctuating bullion prices. - In the Australian sector the over-all picture mirrored the slump on home markets, which brokers have attributed to a withdrawal of foreign capital in favour of the United States and Japan, where rising interest rates have made finance investments more lucrative. Closing prices on Friday of a selection of shares were:— Ampol, 56: ANZ, 240 1/2: NSW, 171 1/2: BHP, 630; Dalgety, 239 1/2; Eldei- Smith. 155 1/2; Lloyds Bank, 308; Mt Lyell. 124: Challenge. 95 1/2; Nth BH. 179 1/2: Plcssev. 136: RTZ ord, 440, and regd. 437 1/2; BH Sth. 232 1/2; Trans Dev. 72 3/4; West Mining. 239 1/2: BAT. 236; Distillers. 196: Glaxo. 242: ICI, 388; Marks and Spencer. 90: P and O. 115 1/2; Pruential “A.” 177: Reed Int. 19<; Shell Transport, 378: Unilever. 455; War Loan, 3 1/2, 32 3/16; De Beers, 11 7/8.
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Press, 25 February 1980, Page 20
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272London market easy Press, 25 February 1980, Page 20
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