U.K. prices buoyant

Press, 30 January 1984, Page 21

U.K. prices buoyant

NZPA-Reuter London Share prices in London closed mixed on Friday with an easier bias and at 3 p.m. the “Financial Times” industrial index was down 2.3 points at 832.8. Prices fell initially on renewed profit taking, but buying for the next account made for a mixed close, dealers said. On Wednesday equities moved higher on revived United States demand with some British institutional buying, and at 3 p.m. the “Financial Times” index was up nine points to a record 833.9. Oils were active after a bid on Tuesday by the Royal Dutch Shell Group for the outstanding 31 per cent equity of Shell Oil Company of the United States. Shell finished 20p up at 658 and Royal Dutch rose 85p to 3588 while Ultramar firmed 25p to 687. On Thursday the market closed lower, with moderate profit taking. Dealers said the undertone, however, was firm and some issues ended above the day’s lows. At 3 p.m. the “Financial Times” index was down 4.9 at 835.6. Leading oils were again active. Royal Dutch was 25p lower at 3648 and Shell Transport ended 4p up on balance at 665 on the bid for the minority interests in Shell Oil of the United States. London Brick was unchanged at 161 having touched 167 on a profit forecast for 1984 of £36 million. The forecast accompanied its formal rejection of the increased bid from Hanson Trust. Redland rose 5p to 284 on the news that it will borrow SUS7SM in

America at relatively cheap rates of interest. London Brick closed 3p up on balance at 164 with operators speculating over an increased bid from Hanson Trust. Pilkington rose 8p to 271. Fleet Holdings rose 6p to 187 in brisk two way business, dealers added. Closing prices on the London Stock Exchange on Friday were (mid-price): Ampol, 120%; ANZBank, 355%; BHP, 880;

Dalgety, 464; Elder Smith, 289 1 /z; FletcherCh, 149 , /z; NthßH, 195%; Plessey, 230; Renison, 252; RTZBear, 665; RTZReg, 663%; Transport Dev. 110%; Western Mining, 273%; Westpac, 257%; BAT, 198; Distillers, 262; Glaxo, 785; ICI, 629; Lloydsßank, 604; Marks and Sp, 228; P and O, 263; Prudential, 496; Reedlnt, 446; ShellTr, 663; Unilever, 970; Warloan, 3%, 36%; Deßeer, 820 (quoted in U.S. dollars).