EUROPEAN CRISIS

Dominion, Volume 32, Issue 149, 20 March 1939, Page 12

EUROPEAN CRISIS

Effect On London Stock Exchange « NERVOUS SALES INCREASE By Telegraph.—Press Assn.—Copyright. LONDON, March 17. The whirlwind Czechoslovakia crisis terminated abruptly the six weeks’ cheerful market interregnum with little chance of its early resumption. The markets first showed strong resistance under the impression that tranquillity would follow Germany’s latest coup, aud nervous sales were readily absorbed, but, as it became increasingly likely that developments will not be limited to Czechoslovakia, and as reports of uneasiness iu other Central European countries and French forecasts of early Italian moves have multiplied, the volume of sales has risen. A good feature has been the steadiness of Dominion bonds, declines above 15/being exceptional, while some have even hardened. The full brunt of the crisis, of course, fell on foreign bonds, Czech 8 per cents, crumbling from £69 to £3B. Declines in Reich isues were relatively moderate, averaging three points. The commodity markets have been quiet, with ’a reactionary tendency.