London market easy

Press, 22 September 1980, Page 26

London market easy

Share prices on the London Stock Exchange last week failed to sustain previous high levels, and the F.T. index fell once again below the 500-level.

The depression was set off by the news that the dockers would stage a national strike, beginning today. The subsequent announcement that the strike had been averted raised prices a little on Wednesday, but the sharply lower results from Guest Keen renewed the selling. Guest Keen slumped 38p to 191 p on news of worse than expected half year results and expectations of a worse second half, and other leaders re-

treated' from earlier higher levels.

Trading in the Australian sector of the London market was firm, in line with home markets, although an easier tone became apparent on Friday. Peko Wallsend and M.I.M. were among the most keenly sought. Closing prices on Friday of a selection of shares were:— Ampol, 82; A.N.Z., 228; N.S.W., 164; 8.H.P., 795; Coles, 111; C.8.A., 134; G.F.C.A., 460: C.R.A., 319; C:S.R., 369; E.Z.1.. 3371; Hamersley, 210; 1.C.1. Aust., 124; M.1.M., 2271; Myer, 72; National Bank, 136 J; Nth 8.H.. 207; Oakbridge, 1841; Pan Continental, 360; Peko Wallsend, 545; R.T.Z., 475 A and regd, 475 J; Waltons, 36; Western Mining, 303; Woodside, 1581: Wwths, 86.