SHARE MARKETS

Manawatu Standard, Volume LVI, Issue 311, 30 November 1936, Page 8

SHARE MARKETS

3.15 P.M. EDITION

A CHEQUERED WEEK. EFFECTS OF DIPLOMACY. Received November 30, 10.35 a.m. LONDON, Nov. 29. A chequered week for the . stock markets ended cheerfully. Hitherto a double option on peace plus rearmament had been profitable, but the reminder of its peculiar risks came last week-end when the Italo-Germau recognition, followed by Britain’s bunday Cabinet meeting, caused the City momentarily to think that it had “heard the guns.” British markets were also affected by falls on Wall Street. The Japanese-German pact produced another setback in the middle of the week, but the anti-C’onimuuist crusade is at present regarded more as a bark than a bite, consequently nervousness has diminished. A characteristic example ol the recovery of heavy industries is shown by Dorman, Long’s profits, which have risen to £1,128,000, or 34 por cent., enabling a 6 per cent,, dividend on ordinary shares alter a lapse ol fourteen years. Industrial issiies and gold base metals chiefly enjoyed tho recovery with which the week closed;. British gilt-edged and Dominion securities were firm. Commodities were firm ; lead during the week touched the highest level since 1929 at £23 17s 6d. It is still about that figure and is expected to increase. . , , „ , A big tin merger is expected iollowing the proposals of the London Till Corporation to absorb the AngloOriental Corporation and absorb part of the capital of Metal Securities, resulting in the London Corporation’s capital being increased to £4,200,000. Further fluctuations are expected about the present level.