LONDON MONEY MARKET

Evening Post, Volume CXVIII, Issue 115, 12 November 1934, Page 12

LONDON MONEY MARKET

SECURITY, PRICES ADVANCE'

TREND OF INVESTMENT

(By.. Telegraph.—Press Assn.—Copyright.) V: ' •.'. ' LONDON,' November 10.

The London Stock Exchange had anbther record week as far as British Government (stocks, are concerned, several of them having reached new high levels. This is largely'attributable to'the cheapness of money following the decision of the banks to reduce their charge for weekly loans to % per cent. / : v ■ • There was another contributory, factor yesterday'when Treasury bills, were allotted at a little over 5s .per cent., which, is. only .-fid above the lowest ever recorded; ; '':. ' '■:■ '■'■'' : ' .>'-'• ■'■-•'

The quick closing of the Australian:loan fcash'Jists also had a good effect, and the markets closed yesterday in buoyant mood. Home Corporation stocks jind Dominion and "Indian - loans all participated in the advance. >Foreign bonds also; advanced, notably which rose 10 points on'the announcement of the exchange agreement.; and have maintained the^ improvement. -.!;.' . , '■ ■', ' ■■.:'-'. '■'■'. '-'■;'"■ '".■' Industrials have followed1 the lead; of gilt-edged^ securities, and there has been an active demand for", high-class fixed' interest issues, also those. pf well-estab-lished companies engaged" .in .leading domestic industries. ''~ . _ Tha only unsatisfactory market is mining shares, which; continues uncertain and irregular. < ■.;.'.'■'■.■'■' '" •'.'.'/!■ ,■ .. .'' '• v