LONDON SHARE MARKETS

Dominion, Volume 31, Issue 143, 14 March 1938, Page 12

LONDON SHARE MARKETS

Affected by Austrian Crisis IRON AND STEELS FALL By Telegraph.—Press Assn.—Copyright. (Received March 13, 0.30 p.m.) London, March 12. Nervousness amounting almost to panic swept down prices on many European bourses. London, though to some extent insulated from the Continental Levers, did not escape the repercussions, and there was a rush on the part of professionals to close commitments. The weekend may afford time for nerves to recover. A comforting pointer was the steady opening of the Amerstdam bourse this morning; markets, however, are likely to be at the mercy of European politics lor some time. The actual course of the markets during the week has been notable for the insignificant amount of business. A number of marked last Thursday. ’ the day before the Austrian crisis. Violent fluctuations marked the course of iron and steel shares after the announcement of the results of some of the leading companies. Vickers fell 3/- to ,19/9 owing to disappointment at the dividend not being increased. Cammell, Laird and other armament shares are similarly weak. There seems no doubt that these and similar firms are assured of excellent profits, but are forced. to protect themselves against public criticism by declaring conservative dividends. Other sections of the market are quite uninteresting, the trend being generally downward. The bleakness of the Budget outlook is a restraining influence. Metals and rubber are also discouraging, owing to poor American consumption.