LONDON STOCK MARKET STEADIER
LONDON, Aug. 12. A steadier tone was apparent in the gilt-edged section of the London Stock Exchange when the week’s trading ended today. Prices showed recoveries from the lower levels previously established and the downward trend to a four per cent basis has been checked. It was noticeable, however, that larger operators have been absent during the past two days and thus the market has responded to a small bear covering. Much of this was due to an inclination to establish a level position for the week-end. This rally in funds assisted other domestic issues. Many industrials moved higher by a few pence and, although most sections had a healthier appearance, the undertone remained uncertain.
Another item of interest provided by operators during the past week has been their demand for dollar issues. The popularity of these as a hedge against any sterling devaluation has grown apace and has resulted in many sharp advances.
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Bibliographic details
Gisborne Herald, Volume LXXVI, Issue 23024, 15 August 1949, Page 5
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158LONDON STOCK MARKET STEADIER Gisborne Herald, Volume LXXVI, Issue 23024, 15 August 1949, Page 5
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