Bull run
Futures trading yesterday saw a bull market in the Barclays share price index (BSI) contract and both the interest rate contracts, said Dr Brent Layton of Egden Wignail and Company Futures. This was in spite of dealing being impeded in the early part of the day because of problems with the clearing house computer. r A buying frenzy took place in all contracts during the last hour, he said. The September Govern ment stock contract (GSC) broke through the 8800 (12 per cent) level to end very strongly on its high for the day at 8806 (11.94%) a rise of 13 points, just over double its increase on Friday. The September bank bills contract (BBC) ended at 8735 (12.65%). Although its trend was up, said Dr Layton, the 12% mark was some way off. The September BSI closed on its daily high very firm at 2425 and up 70 points as the sharemarket set a post-crash high. The BSl’s premium to the physical at 63 almost doubled from Friday.
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Press, 22 August 1989, Page 28
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171Bull run Press, 22 August 1989, Page 28
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