LONDON Profit-takers cause prices to ease

Press, 2 December 1985, Page 44

LONDON Profit-takers cause prices to ease

NZPA LONDON Share prices closed lower on profit-taking on the London Stock Exchange on Friday amid selective demand. Dealers said trading volume was moderately heavy and the “Financial Times” 100 (share index closed 11.9 down at 1439.1, having touched a low of 1429.3. The; “Financial Times” 30 i share index ended 7.5 up at 1135.4. The Habitat Mothercare’s proposed merger with British Home Stores and talks between Imperial Group and United Biscuits dominated market sentiment early in the week, which prompted fresh demand. But the higher levels attracted profit-taking, which pushed the “Financial Times” 100 share index 23.6 points down on Tuesday. The market subsequently traded mixed, with selective demand leaving most issues above the week’s lows. Habitat Mothercare fell aon the week to 538 p, e BHS firmed 59p to 432. Imperial Group rose 27p to 245 p and United Biscuits was 38p up at 278.

Distillers ended 15p higher at 510 p, on continued

hopes the Argyll Group will announce a' bid for it next week. Argyll was 5p lower at 335 p. V Big companies to announce trading results were all higher. Redland rose 15p to 357 p, Unigate lOp to 234 p, Allied Lyons 9p to 301 p and Royal Bank of Scotland 7p to 292 p. Blundell - Permoglaze firmed 54p to 198 p, after the increased offer of 200 p from AKZO, down; 25p at £33. Reed gained 19p at 711 p. It counter bid for Blundell matching AKZO’s first increased offer of 185 p. ICI lost 17p at .717 p Unilever shed 30p at 1250 p and BTR was 25p off at 373 p. But British Aerospace gained 19p at '4Blp, Boots firmed lOp to 429 p, while Thorn EMI at 429, was also lOp up after press speculation of a possible bid for its screen entertainments offshoot. Oils slipped back on the lower crude oil price. Closing mid-prices on Friday of a selection of shares were:

Ampol, 102%; Allied Lyons, 303; ANZ Bank, 219%; 8.P., 570; BHP, 380%; BAT, 281; British Oil, 234; Telecom, 206; War Loan, 3% 35%; Dalgety,

474%; De Beers, 490 (U.S.); Distillers, 515; Elder Smith, 142%; Fletcher Ch, 117%; Glaxo, 15-19/32; ICI 717; Lloyds Bank 492; Marks And Spencer, 184; N.8.H., 102%; NXL, 70%; P and O, 453; Plessey, 136; Prudential ’A’, 807; Reed Int, 710; Renison Cons, 240%; Reuter ’B’, 326; RTZ reg, 531%; Bear, 532; Shell Trans, 663; Thorn, 429; TKM, 67; Trans Dev., 129; Unilever, 12%; Western Mining, 149%; Westpac, 207%.