MARKETS WEAK

Otago Daily Times, Issue 23413, 31 January 1938, Page 10

MARKETS WEAK

CONFIDENCE EVAPORATES

DISAPPOINTING POSITION NEGLIGIBLE INTEREST SHOWN (United Press Association) [By Electric Telegraph—Copyright)

LONDON, Jan. 30

(Received Jan. 30, at 6.30 p.m.)

The stock markets are disappointing and business has almost been brought to a standstill. Public interest is negligible. The strength of the gilt-edged market is the solitary redeeming feature. The market for commodities, like the stock markets, is inactive. The fall in rubber prices, despite the revised quota, is typical of the market’s mood. All the reviving confidence of a fortnight ago appears to have evaporated. Tin is the weakest section of the metals. The value of statistics is becoming less and less, as it is obvious that whatever they indicate the world stocks are rising fast. The wool sales tended to slacken. There were a number of withdrawals, and it was noted that both Home and Continental buyers were becoming reluctant to meet sellers’ limits.

The Economist’s review states that the trade shows that the index of business activity in December was only one point above that for December, 1936, and thus practically the whole of the expansion in me first nine months of 1937 has been lost.