BRITAIN’S TRADE.

Hawera Star, Volume XLVIII, 22 December 1924, Page 5

BRITAIN’S TRADE.

HOPEFUL OUTLOOK. OPERATIONS ON ’CHANGE. BY CABLE—PRESS ASSOCIATION —COPYRIGHT LONDON, Dee. 20.. There has been a glut .of new issues on the. Stock Exchange this Aveek, the capital involved amounting to about tAvelve and' a quarter millions. , These have had a someAvliat unsettling effect on the gilt-edged'.market,- which has been further/.affected by liquidations for Avhat are knoAvn as “AvindoAV-dress-ing operations” in connection With the end of the year operations, but there have been no serious declines in values, and there is an underlying feeling of confidence, Avhich promises' Avell for improvement after the holidays, . . The foreign bond market has been enliven•ed'by dealings in the neAv Greek loan, Avhich,. as cabled, Avas enormously oversubscribed. A large number of applicants received under, four per cent, of the amounts they applied for, and there has been a great rush for it, with the premium maintained at about 7 per cent. In’ the foreign exchanges market the chief interest lies in sterling, Avhiefi dosed firm at qi, The main support comes from America, where the sterling is still .talked of as likely to be higher, and there -seems a possibility of the. strength being maintained till the spring, when the rate usually improves. The -markets for all non-ferrous base metals continue firm, arid feeling regarding all of them is optimistic, for there. seems no present, indication <of anything likely to cause a serious setback on either side of the Atlantic. The position of lead appears to be particularly .strong, and apparently there is no sign of any relief from a shortage of supplies. Large contracts for pig lead have been placed at high prices for February and March. Shipment values in the United States have been advanced to a very high level, in order to prevent export sales/and’attract Mexican lead. Thus Europe null he compelled to fall back largely on Spain.and Australia, with fair supplies from Burma and Africa.