Securities Slump Again After Half-Hearted Rally
LONDON, Thu. (10 a.m.)British-Government securities this morning again slumped after an early half-hearted attempt to extend yesterday’s late rally. War Loan, the biggest issue, rose 5- and then fell 25/-. Lxcluding accrued interest, four per cent consols fell to almost precisely 100.
On this stock the long-term interest that such heavy losses as have been rate thus reached 4 per cent as against sustained in a gilt-edged market the 24 per cent rate that the then- might begin “to uncover some finanChancclior of the Exchequer (Dr ciai trouble,” Hugh Dalton' tried to establish three In less than three years about years ago. £3.000.000,000 has been knocked off the market value of British Government At this level it was felt that the and kindred securities, market could rally fast enough if Q n several recent occasions, the erocoufidonce were restored. s j on has been £100.000.000 a day. On the other hand .failing action Such huge losses might well begin (o restore confidence, it was feared to affect some balance sheets.
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Northern Advocate, 28 October 1949, Page 5
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176Securities Slump Again After Half-Hearted Rally Northern Advocate, 28 October 1949, Page 5
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