London market continues to weaken
London share prices declined towards the end of last week, in quiet end-of-account trading.
The poor profit outlook for British companies continued to affect market sentiment: the previous week’s bearish forecast from Thorn was reinforced by a disappointing result from GKN. Investors appear also worried over the trend in the United States interest rates. Gold shares firmed a little in spite of lower bullion prices. United States and Canadian shares were mixed. Australian shares staged a
strong rally on Friday, led by banks and BHP. Retailers also made gains and among the miners EZI and Peko-
Wallsend stood out. Closing prices on Friday of a selection of issues were: Ampol. 68'2; ANZ. 199‘z; NSW. 146'a: BHP. 410: Dalgety. 304: Elder Smith. 152*2: Fletcher. 75: .North BH. 124'a: Plessey. 554'a: Renison. 147; RTZ ord. 413 and regd. 41)8'2; Transdev. 74' :: West Mining. 197's: BAT. 557: Distillers. 216; Glaxo. 775: ICI. 298; Lloyds Bank, 390:P and 0. 134: Prudential 'A'. 289: Reed Int.. 278; Shell Transport. 416; Unilever. 635: War Loan. 33 1 :; De beers. 530.
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Press, 20 September 1982, Page 22
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179London market continues to weaken Press, 20 September 1982, Page 22
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