STOCKS RECOVER
STERLING IMPROVES
LESS DEMAND FOR DOLLARS
(By Telegraph—Press Assn.—Copyright.) LONDON, September 29. Mr. Chamberlain's announcement came too late to affect many securities, but a substantial reaction occurred among those in which the market usually deals after closing hours. The 3 \. per cent. War Loan, which stood at £93 at 4 p.m., later was dealt tn at £97. Dollar securities advanced as much as five points. The scramble for dollars was intensified, the market opening at about 4.72 to the £ and bid down to 4.60. The Prime Minister's announcement caused an equally emjphatic selling movement, the dollar i" closing at 4.71 to the £. Registered German marks closed at a discount of from 55 to 60 per cent., whereas at one time they were offered at a discount of 68 per cent
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Bibliographic details
Evening Post, Volume CXXVI, Issue 79, 30 September 1938, Page 12
Word Count
132STOCKS RECOVER Evening Post, Volume CXXVI, Issue 79, 30 September 1938, Page 12
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