MARKETS RISING

Evening Star, Issue 22722, 9 August 1937, Page 9

MARKETS RISING

LONDON STOCK EXCHANGE ACTIVE PROSPECTS OF ANOTHER METAL BOOM BUTTER PRICES CONTINUE DULL Press Association—By Telegraph—Copyright LONDON, August 8. (Received August 9, at 11.30 a.m.) The stock markets, contrary to expectations, are rising, with the temperature steadily increasing. Many investors are seeking to join in what appears to be the beginning of an autumn bull movement. Kaffirs have risen substantially in the past fortnight, some as much as 50 per cent. The rubber market is active and leading issues rose substantially. Oils are also beter. An excellent tone prevails in heavy industrials, notably Vickers. Commodities also participated in the revival, especially base metals. Tin is most active. The ‘ Financial News ’ considers that if consumers rush in the market price may rise to £3OO. The ‘ Investors’ Chronicle ‘ emphasises the fact that, despite the expanding output, all base metals stocks are not increasing. The situation contains the germ of another boom, hut if consumers continue to purchase hand to mouth it may be averted, as there is no danger of an actual metal shortage. BUTTER AND CHEESE. Butter is featureless, though firm. There is little business, consequently prices are nominal. Lower offers are occasionally accepted, but some traders anticipate a market turn, even stronger. Cheese is most quiet and quotations are also nominal. MEAT. There has been a sharp rise in the past week or two in _ medium-weight lambs. Supplies are limited and well held, and prices are likely to remain firm, as no supplies of Australian are available and none is likely to arrive before October. Mutton continues weak, but beef is firm. FRUIT. The aggregate New Zealand and Australian arrivals of apples totalled 4,546,000 boxes, compared with 5,131,000 last year. Pears were 804,000, compared with 697,000.