DOMINIONS' STOCKS

Evening Post, Volume CXXVII, Issue 118, 22 May 1939, Page 12

DOMINIONS' STOCKS

CANADA LEADS

AUSTRALIA & NEW ZEALAND

(By Telegraph—Press Association —CopjTright.)

LONDON, May 20,

i The London Stock Exchange concluded its most encouraging week's business since the markets cracked on the invasion of Albania, though the volume of business still remains below normal.

Prices have crept, up very gently, but there is a growing return to confidence in both the domestic and international situation. Every section of the market has made some gesture of improvement and most industrials are 5 to 10 per cent, dearer on the week. The gilt-edged investments' revival has broadened into an impressive advance, carrying Dominion stocks with it. The "Investors' Chronicle" remarks that the market ranks Canadian stocks highest, their yield being round 3i per cent., with South African and Indian next at about 3£ per cent., then Australia and finally New Zealand. Neither New Zealand nor Australia compare with the other Dominions, states the paper, as they have run up debt per head about double that of Canada's and treble that of South Africa's. They have not Canada's geographical security nor South Africa's sheet anchor of gold.