London firm
The London sharemarket, encouraged by Tuesday’s Budget, reached record highs on each of the last three days. v Dealers said the market undertone was very firm with the proposed tax changes and the cut in share dealing stamp duty seen as encouraging and suggesting long term stability for the stock market.
Banks were depressed in reaction to the revision of capital allowances which will curtail leasing business. The half point base rate reductions were discounted, dealers added.
Ampol, 114%; ANZ, 362%; BHP, 872; Dalgety, 448; Elder Smith, 267%; Fletcher, 127%; NorthßH, 174%; Plessey, 250; Renison, 216; RTZ Bear, 680; reg, 673%; Trans Dev, 112%; West Mining, 272%; Westpac, 239%; BAT, 213; Distillers, 272 Glaxo, 875; ICI, 616; Lloyds Bank, 597; Marks and Spencer, 270; PandO, 305; “Prudential ‘A’, 443; Reedlnt, 432; ShellTpt, 680; Unilever, 940; War Loan, 37%; De Beers, 857 (quoted in US dlrs).
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Press, 19 March 1984, Page 24
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147London firm Press, 19 March 1984, Page 24
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