LONDON EXCHANGE

Hawke's Bay Tribune, Volume XX, Issue 73, 10 March 1930, Page 5

LONDON EXCHANGE

SIGNS OF RECOVERY PRICES GENERALLY FIRM. INVESTORS WAITING FOR BUDGET. [United Press Association—By Cable— Copyright.! (Received 9, 8.3 p.m.) London, March 8.

The Stock Exchange is at last show ing signs of recovery from its long period of depression. Early this week dullness still prevailed, but political development and the better monetary outlook brought about a more cheerful tone and tho reduction of the bunk rate gave a further stimulus, with the result that the market closed yesterday with prices generally firm and a feeling of mild optimism abroad.

There has not yet been any great increase in buying on the part of tho public, but the stream of sales by necessitous holders has been checked and, as the influence of cheaper money spreads, some expansion of business may be expected; but there is unlikely to be any sharp recovery in the markets, for investors have been having a bad time for sumo months past, and it cannot bo expected that their confidence will be restored in a moment.

There is also uncertainty about what tho Budget will bring forth and, until that is out of the way, investors are likely to hold their hands. That they are not disposed to operate is shown by tho result of several now issues, of which very large proportions, 70 and 80 per cent, have been ioft wiih tho underwriters.