London market nervous, easy
Share prices on the London Stock Exchange fell sharply last week, although a rally on Friday blunted the losses a little. . Oil shares were particularly weak on speculation that crude prices will be cut at the O.P.E.C. meeting later this month. The oil price outlook also depressed sterling: this was the main factor behind falls of around a point in long dated Government bonds, dealers added.
The market fell further on Wednesday as money market rates firmed, even though the Bank of England declined to endorse the higher level in its money market, intervention. The Australian sector was a little easier in .quiet and selective trading. Closing prices on Friday of a selection of issues were: Ampol, 80%; ANZ Bank, 204%; BHP. 358; Dalgety. 316; Elder Smith, 152%; Fletcher, 67%; NBH, 133%; Plessey. 581%; Renison, 162; RTZ ord, 445 and regd, 443%; Trans Dev, 76%; West Mining. 188%; Westpac, 148‘a; BAT. 614; Distillers, 259; Glaxo, 12 28/ 32; ICI. 346; Lloyds Bank. 420; Marks and Spencer. 219; P and O. 108; Prudential 'A'. 333; Reed Int, 250; Shell Transport. 420; Unilever, 765; War Loan, 32%: De Beers. 555.
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Press, 13 December 1982, Page 36
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192London market nervous, easy Press, 13 December 1982, Page 36
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