London market easy
Share .prices were ■ weaker on the London Stock Exchange last week. The . market began well on Tuesday in response to the lower trend in United States interest rates, and the ending of the siege at the Iranian embassy in London, but it fell on each subsequent day. The Uriited Kingdom banking figures for April provided little support. Government bonds closed as much as 3/8 point lower
after Wednesday’s rejection by the Chancellor of the Exchequer of an early reduction in the minimum- lending rate; this disappointment affected equity shares as well. In the .Australian sector the week opened sluggishly, and the prices of most Australian shares tended to ease. However, the news of CjS.R.’s SIOOM sugar deal with China provided a new incentive on Thursday. -
What was 1 seen as a favourable .IMF. ~. gold, auction created interest in gold-shares, and Consolidated Goldfields put on 20c to 645 c. C.R.A., Peko Wallsend, and Pancontinental were also in demand. B.H.P. lost 5p during the week.. Closing prices, on Friday of a selection of shares were:—
Ampol, 57: ANZ, 207 1/2; NSW, 143 1/2; BHP, 610; Dalgety, 260 1/2; Elder Smith. 124 1/2; Mt Lyell, 60; Challenge,' 97 1/2; Nth BH, 156 1/2; Plessey, 146; RTZ ord, 359 1/2 and regd, 360 1/2; Trans Dev, 72 1/4; West Mining, 193 1/2; BAT, 248; Distillers, 199; Glaxo, 194; ICI, 378;'Marks and Spencer, 88; P. andvOj-.118 1/2; Prudential A, 186; Reed Int; 186; Shell Transport. 350; Unilever, 410; War Loan, 3 1/2, 32 5/16; De Beers, 883; Lloyds Bank, 296.
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Press, 12 May 1980, Page 28
Word Count
258London market easy Press, 12 May 1980, Page 28
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