London market
Stock Exchange fell sharply last week, mainly because of nervous selling after the much lower-than-expected result from 1.C.1. Government bonds lost up to one point in reaction to the rise in United. Stites interest rates. Australian stocks made a slight recovery on the London Stock Exchange on Friday after heavy losses early in the week.. The market leader, 8.H.P., which had dropped 79c in Thursday trading, picked up 14c today to close at $15.49. However another industrial, Oakbridge, dropped 14c at close and C.S.R. lost 2c and 1.C.1.. firmed just a cent. Apart from a 4c drop for North Broken Hill, the general miners were also firming. C.R.A. and. Hamersley added 9c each, and M.I.M. and Western Mining earned a 6c rise apiece.Among the energy stocks, Peko topped the gains, with a 13c rise. E.Z. put bn 4c, Woodside 3c and Ampol just 2c, but the uranium miner, Pan Continental, was down 8c to 708 c. (Aust. (3.45 Stg). Unusually, the biggest gains were in the retailing sector where Woolworths added 21c to close at 172 c, and Coles put on 17c to 225 c. Waltons also rose 10c; Myer was unchanged. ■ Closing prices on Friday of a selection of stocks were:—
Ampol, 71; 229 1/2; B.N.SAV., 161 1/2; 8.H.P., 755; Dalgety, 274 1/2; Elder Smith, 157 1/2; Mt Lyell, 94; Challenge, 107 1/2 Nth B.IL, 188 1/2; Piessey, 240 1/2; R.T.Z. ord, 440 1/2. and regd, 444 1/2; Transdev.,. 71 3/4; West Mining, 228 1/2; 8.A.T., 275; Distillers, 223; Glaxo, 232; 1.C.1., 354; Marks and . Spencer, 100: P. and 0., 129; Prudential “A,” 238;. Reed Int., 196; Shell Transport, 408; Unilever, 493; War Loan. 31 1/8; De Beers, 9 1/2; Lloyds Bank, 313. '
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Press, 1 September 1980, Page 28
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286London market Press, 1 September 1980, Page 28
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