INTEREST STIMULATED
NEW ZEALAND LOAN SHARES LONDON FINANCE MARKET Rec. 9 p.m. LONDON, Aug. 10. The market continues to show interest in the section of the recent New Zealand £16,000,000 sterling loan taken over by the underwriters and a number of parcels have changed hands in the past 10 days at rates which, after brokerage and other charges are paid, show a small margin of profit. The fact that the loan is being quoted in the London Stock Exchange is undoubtedly stimulating interest, and it is expected that further transactions will reduce the amount taken over by he Reserve Bank of New Zealand. The underwriting of the loan by the Reserve Bank, while it saved the Government considerable underwriting charges, meant that the city finahcial houses which would normally push a loan of this type because of the interest in its underwriting, have been content to allow the New Zealand Reserve Bank look after itself. It is considered in the city that the encouraging spurt of interest that is now being taken in New Zealand dealings will do something to counteract this lack of interest.
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Bibliographic details
Otago Daily Times, Issue 26847, 11 August 1948, Page 7
Word Count
185INTEREST STIMULATED Otago Daily Times, Issue 26847, 11 August 1948, Page 7
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