LONDON Prices down

Press, 16 December 1985, Page 31

LONDON Prices down

NZPA-Reuter ' London Share prices in London were lower last week in the wake of lower crude oil prices and the subsequent fall in sterling which put paid to any chances of an early cut ”in British clearing-bank base rates. Trading was moderately active. The FTSE 100 index lost 20.5 points at 1381.4 and the FT 30 index was 11.7 points down at 1105.9. Sterling's weakness prompted a warning from the Government about the size of possible tax cuts in the next budget Matthew Brown featured, lasing 135 p to 410 after the bid from Scottish and Newcastle S after a take-over Panel that the £I2SM deal not be allowed to proceed. Scottish ended 9p lower at 170. The weaker trend in the equity market tended to restrict demand for the Cable and Wireless share offer, but it was still oversubscribed more than twice, dealers said. The £3 part-paid shares closed at a 3p premium having traded at 305 m first-time dealings on Friday. The fully paid shares were 20p down at 585. Closing prices of a selection of stocks on the London Stock Krrhange on Friday were (mid-price).— Ampol 101%, Allied Lyons 266, ANZ Bank 205%, BP 543, BHP 390%, BAT 295, British Oil 210, Telecom 192, War Loan 3% 35%, Dalgety 232%, De Beers 460 (quoted in US. dollars), Distillers 490, Elder Smith 135%, Fletcher 117%, Glaxo 15-3/64, ICI 731, Lloyds Bank 459, Marks and Sp 175, Nth BH 102%, NZI 70%, P and O 423, Plessey 176. Prudent A 769, Reed Int 681, Renlson Cons 242%, Reuter B 313, RTZ Reg 513%, RTZ Bear 515, Shell Tr 641, Thorn ord, 409, Tozer KM 71, Transport Dev 124%, Unilever 12-29/64, Western Min 144%, Westpac 210%.