STOCK EXCHANGE
WEEK OF TRIBULATION heavy FOREIGN SELLING (United Press Association —By Eleotrio Telegraph—Copyright) (Received 18th February, 8.5 a.m.) LONDON, 16th February. The past week has been one of trial and .tribulation for the Stock Exchange, and markets have not been so disturbed since the crisis in 1931. As mentioned a fortnight ago, trouble in the commodity markets caused some nervousness. This was followed by newspaper talks of an acute Cabinet crisis, the likelihood of an early election, and the possibility of a Socialist victory. These stories had an immediate effect on foreign holders of gilt-edged securities, who are notoriously apt to take alarm very easily. The result xvas heavy foreign selling from Monday till Wednesday, which knocked down prices of a number of British funds by £3 to £4. There were also considerable profit-taking sales by home holders. The weakness spread to industrials, and all departments were affected. On Wednesday afternoon recovery commenced, and was continued until Friday, the Rt. Hon. Mr Ramsay Mac, Donald’s and the Rt. Hon. Neville Chamberlain’s speeches having a reas. suring effect.
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Bibliographic details
Nelson Evening Mail, Volume LXVI, 18 February 1935, Page 2
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178STOCK EXCHANGE Nelson Evening Mail, Volume LXVI, 18 February 1935, Page 2
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