FIRMER MARKETS

Evening Star, Issue 23000, 4 July 1938, Page 6

FIRMER MARKETS

LONDON WATCHING WALL STREET BASE METAL OUTLOOK BRIGHTER BUTTER SHOWS EASING TENDENCY Press Association—By Telegraph—Copyright LONDON, July 2. Although Wall Street resumed the advance after momentary profit-taking, prudent observers are not yet persuaded that the recovery will be lasting. London would feel more comfortable if Wall Street slackened its tempo, but there are a number of factors inspiring, hopes. RUBBER IN DEMAND. In the generally firm commodity markets the outstanding feature has been the rapid advance in the rubber trade. The demand from the_ Continent, especially from Germany, is good. BASE METALS. The outlook for base metals also is brighter. The domestic sales of copper in the United States have shown a marked improvement, _ and a further rise in prices is certain. Lead prices also are higher, and there has been heavy buying of spelter in London during the week. BUTTER. Butter had- a difficult market. The publication of stocks shows an increase of 989,000 boxes,which resulted in hesitancy, followed by a slight appreciation, after which the market showed an easing tendency. An appreciable break, however, is unlikely. FRUIT. The fruit market also is easier, and the demand is slackening off owing to the competition of soft fruit.