CHEERFUL REACTION
LONDON STOCK MARKETS N.Z. STOCKS IN DEMAND (9:30 a.m.) LONDON, Aug. 16. Buoyed up by the news of the United States invasion of the Solomon Islands, the stock markets closed the week generally cheerful without, however, a commensurate buying movement. Some fairly large transactions helped the improvement. Gilt-edged New Zealand and Australian stocks are moderately . active. Among the Government bonds New Zealand stocks still command preference over Australian, partly owing to the geographical position and partly because the sterling debt is not overburdened with a mass of stock-carry-ininterest at 5 per cent. Consequently, short-dated New Zealand stocks will enjoy a reasonably free market, and it is only in the case of long-dated stocks, bearing a low rate of interest, that the minimum nrices have produced a freezing process.
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Bibliographic details
Gisborne Herald, Volume LXIX, Issue 20864, 17 August 1942, Page 3
Word Count
130CHEERFUL REACTION Gisborne Herald, Volume LXIX, Issue 20864, 17 August 1942, Page 3
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