BRITISH FUNDS

New Zealand Herald, Volume LXIX, Issue 21315, 17 October 1932, Page 9

BRITISH FUNDS

BUYING ACTIVITY HIGH LEVELS REACHED INTEREST YIELD FALLING OTHER SECURITIES GAIN INDUSTRIALS IN DEMAND By Telegraph—Press Association—Copyright (Received October 16, 5.5 p.m.) LONDON, Oct. 15 "Gilt-edged week," is how some members of the London Stock Exchange describe the week just passed. The phenomenally successful issue of Treasury bonds at 2 per cent has been followed by a boom in British funds, several of which have touched new high records. Money has poured into the Stock Exchange for investment in gilt-edged stocks for which ihe demand shows no signs of slackening. It seems not to be improbable that before long British funds will be on a basis of a 3 per cent yield to the investor. The activity has spread to other markets. Foreign Government stocks have been in demand, insurance and banking shares have been heavily bought and good class industrial shares also are in strong request. Altogether the Stock Exchange has had its best week for a long time. Australian stocks have not risen correspondingly with British funds, but they remain firm at the high levels recently reached. Any slight declines are attributable to profit-taking sales. The new Commonwealth 3£ per cents are in great demand and have touched 3| per cent premium on the issue price of 97^.