EXCELLENT TONE

Poverty Bay Herald, Volume LXIV, Issue 19398, 9 August 1937, Page 5

EXCELLENT TONE

BRITISH MARKET REVIEW SIGNS OF REVIVAL COMMODITIES ACTIVE (Elec. To]. Copyright—United Pross Assn.) (Reed. Aug. 9, noon.) LONDON, Aug. 8. The stock markets, contrary to expectations, are rising with the temperature, a steadily-increasing number of investors seeking to join in what appears to be the beginning of the autumn bull movement. Kaffirs have risen substantially in the past fortnight, some as much as 50 per cent. The rubber market is active, and leading issues rose substantially. Oils also are better. An excellent tone prevails in heavy industrials, notably Vickers. Commodities, also, participated in the revival, especially base metals, tin being the most active. The Financial News considers that if consumers rush in the market price may rise to £3OO. The Investors' Chronicle emphasises the fact that, despite the expanding output of . all base metals, stocks are not increasing. The situation contains the germ of another boom, but if consumers continue to purchase from hand to mouth it may be averted, as there is no danger of an actual metal shortage. The butter market is featureless, though firm. There is little business; consequently, prices are nominal and lower offers are occasionally accepted, but some traders anticipate that the market will turn even stronger. Cheese is most quiet, and quotations also are nominal. There has been a sharp rise in the past week or two in medium weight lambs. Supplies are limited and well held, and prices are likely to remain firm, as no supplies of Australian are available and none are likely to arrive before October. Mutton continues to be weak, but beef is firm. The aggregate of New Zealand and Australian arrivals of apples totalled 4,546,000 boxes, compared with 5,131,f)00 last year. Pears totalled 804,000 boxes, compared with 697,000.