LONDON STOCK EXCHANGE

Dominion, Volume 31, Issue 243, 11 July 1938, Page 14

LONDON STOCK EXCHANGE

Market Generally Stronger MORE CONFIDENT FEELING Dr Telegraph.—Press Assn. —CopyrightLondon, duly .8. Although the improvement in business on the London Stock Exchange is to some extent still a reflection of the revival on Wall Street, there are indisputable signs of returning confidence. The chief anxiety of the City, however is that the progression of values should be orderly, and therefore the hectic outbursts of business in New York are mistrusted. London investment markets, however, are tending to advance in a sedate manner and on it perfectly sound technical position ; in fact, gilt-edged securities and equities have risen together during the l>ast three weeks, producing a more confident feeling on the part of investors. The /Anglo-German debt, settlement has also exerted a favourable influence on. the bond market, which is described as firm. New Zealand Stocks, too, are also firm, and have benefited from the categorical Government statements to the effect that default is out of the question. Business in industrials has quietened down nt the close of the week. The outlook for textiles remains gloomy, especially in view of heavy reported increases in unemployment. Base metal and rubber shares are the strongest amongst those based on. commodity prices. Oil shares are active. Sydney Stock Exchange By Telegraph.—Press Assn.— Copyright. Sydney, July 9. Sales on the Sydney Stock Exchange

FOREIGN EXCHANGES Position Of Sterling By Telegraph.—Press. Assn.—Copyright. (Received July 10, 0.30 p.m.) London, July 9. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on July 8: —

London, July 9. Gold.—£7/1/0) an ounce, line. Stiver.—Spot, 19 5-l Gd. nn ounce; forward 19 3-16 d.

On New Zealand Currency Basis

The Bank of New South Wales, Welllngtoh, quoted the following rates for their purchases and sales of foreign exchange on Saturday:—

The Associated Banks (other than the Bank of New South Whies) ([noted the following dollar rates on Saturday on a New Zealand currency basis. They are subject to alteration without notice. U.S.A. Doi. Canadian Doi. Selling- (Per EN.Z.) (Per £N.Z.) TT. 3-9« i 3- n!l ’ O.D. 3.96 J 3.99 i Buying- .... ,a"i O.D. 4.00; I.Ooi

to-day included. £ s. d. Bonds, 4 per cent., 1938 .... 101 3 9 Bonds, 4 per cent., 1941 .... 102 3 9 Bonds, 4 per cent., 1947 .... 104 0 0 Bonds, 4 per cent.. 1959 .... 103 IS 9 Bonds, 4 per cent., 1961 .... 10-4 8 9 Commercial Bank of Aust. .. 0 10 9 2 14 0 2 14 3 2 3 0 G. J. Coles 4 4 0

N. York, dol. to £ Par. 4.866 •July 8. 4.04 July 9. 4.911-10 Montreal, dol. to 22i ■1.8GB 4.97s 4.975 Paris, fr. to 124.21 ' 17815-32 178 29-32 Brussels, be), to £ 48.611 29.20 29.195 Geneva, fr. to 21.60 21.60J Amst’dain, tl. to 12.107 8.955 8.9'51 Berlin, inks, to £ 2:;.4:: 12.285 12.281: St'holin, kur. to 23.43 19.395 19.395 C’hagen, kur. to ■ 18.150 22.40 22.40 Oslo, knr. to a 18.159 19.99 19.90 Jlcl'fors, inks, to 193.23 226.75 226.75 Prague, knr. to 134.25 142.375 142.625 Madrid, pes. to 25.225 — z —• Lisbon, esc. to £ 100 110 3-16 .110 3-16 Milan, lire to 92 93.875 03.875 Athens, drac. to £ *M U 517.50 517.30 Bucharest, lei to 813.00 067.50 — Belgrade, din. to £ 276.31 217 217 Rio de J.. p. to mil 4.99 4213-16 t2 15-16 B. Aires, p. to pe S (1 47.62 19.0 18.98 it. Video, p. to peso 51 1 t20J J20J Calcutta, p. to rup. 18 17 29-32 17 29-32 Shanghai, p. to dol. 18 9 8 13-16 H. Kong, p. to dol. —— 15 15 14 Y’haraa. n. to yen 24.5S2 14 Batavia, fl. to £ 12.107 8.915 8.91 t Market Kate. t Sellers Ofliclal.

New Zealand Buying Selling. OB London T.T. 124 124/10/.124/8/0 100 O.D. 123/10/• Australia T.T. 101 100/10/£A to £N.Z. 100 O.D. 101 100/10/Fiji T.T. 90/7/0 89 £F to £N.Z. IOC O.D. 00/7/0 89 New York T.T. 3.0003 3.0619 Doi. to £N.Z. . O.D. 4.0003 3.9659 Montreal T.T. 4.0235 3.9910 Doi. to £N.Z. . O.D. 4.0355 3.9950 Belgium T.T. 23.663 23.353 Bel. to £N.Z. . O.D. 23.738 23.361 Czechoslovakia .. T.T. — 113.46 Krs. to £N.Z. . O.D. — 113.51 Denmark T.T. 1.8.203 17.81K5 Knr. to £N.Z. . O.D. 18.203 17.889 Finland T.T. 185.44 179.61 Mks. to £N.Z. . O.D. 185.84 179.74 France T.T. 144.83 142.33 Frs. to £N.Z. O.D. 145.83 112.37 Germany T.T. — 9.795 Mks. to £N.Z. . O.D. T.T. —— 9.800 Greece — 429,54 Drac. to £N.Z. . O.D. — 429.84 Holland T.T. 7.298 7.148 1'13. to £N.Z. . O.D. 7.338 7.152 Italy T.'l. — 75.2 Z Lire to £N.Z. . O.D. —• Java T.T. 7.275 7.125 FIs. to £N.Z. . O.D. 7.315 7.129 Norway T.T. .10.182 15.892 Krs. tq &N.Z. . Noumea O.D. 111.242 15.8118 T.T. 147.33 140.58 Frs. to £N.Z. . O.D. 147.83 140.158 Papeete T.T. 146.73 140.73 Frs. to £N.Z. . O.D. 147.73 140.77 Sweden T.'l’. 15.78.5 15.490 Km. to £N.Z. . O.D. 15.845 15.496 Switzerland Frs. to £N.Z. . T.T. .17.540 17.270 O.D. 17.045 17.275 Chef oo T.'l’. — 12J N.Z. d. to Doi. . O.D. — 12 15-64 Hong Kong N.Z. d. to Doi. . T.T. 18 13-32 18 25-32 O.D. IS J 18 25-32 India and Ceylon T.T. 22 7-64 22 25-64 N.Z. d. to Kup. Japan N.Z. d. to Yen . O.D. T.T. O.D 22 5-64 22 25-61 17 33-61 17 33-64 Manila T.T. 29 11-16 30 3-16 N.Z. d. to Peso . O.D. 20 19-32 30 3-16 Shanghai T.T. — 11 25-32 112.1-32 34 63-64 31 63-61 N.Z. d. to Doi. . Singapore N.Z. <1. to Doi. . O.D. T.T. O.D. 34 i 34 13-32