BRITISH STOCK MARKETS

Southland Times, Issue 22917, 16 June 1936, Page 7

BRITISH STOCK MARKETS

Sharp Rise In Butler (United Press Assn.—Telegraph Copyright.) London, June 14. The stock markets are still quiet. The exceptionally good May unemployment figures, the best for six years, have heartened investors, while the firmness of Wall Street has reacted favourably in London. Gilt-edged stocks have picked up as the result of a “bear” covering further heavy French purchases. Industrials are quiet, but Cables and Wireless has improved from last year’s low levels. Commodities continue apathetic, with the notable exception of butter, which sharply appreciated owing to speculative and general buying. The Continent has failed to augment the seasonal decreases in Empire arrivals. This has strengthened the demand, creating an extra strain on supplies. Prices developed irregularity towards the week-end owing to profittaking, but optimism is the keynote of the trade, especially as the told store stocks are believed to have altered little in the last fortnight although normally they tend to increase at this time of the year. The poor condition of the apple market is believed to be due to the fact that the shipments are insufficiently spread out and consequently the quantities recently and at present offering were and are considerably larger than in the corresponding period last. year. The trade has considered the advisability of cold storing some of the fruit for higher prices next month, but in view of the advanced condition decided that it was too risky. A similar decline in values is reported from Liverpool for the same reasons. Pears, however, are in good demand, prices showing a definite improvement. The New Zealand Meat Producers’ Board displayed Smithfield lambs from the Taihape A. and P. Show with a view to ascertaining whether there was a suitable London market. While of excellent shape and quality they were a little heavy. The trade emphasizes that weight is a deciding factor in the British market.