RECORD TRADING

Taranaki Daily News, 12 November 1934, Page 5

RECORD TRADING

LONDON STOCK EXCHANGE WEEK. BRITISH STOCKS IN DEMAND. By Telegraph—Press Assn.—Copyright. Rec. 6.30 p.m. London, Nov. 10. The Stock Exchange had another record week so far as British Government stocks were concerned, several of them having reached new high levels. This is largely attributable to the cheapness of money following the decision of banks to reduce their charge on weekly loans to one-half per cent. There was another contributory factor yesterday when Treasury Bills were allotted at little over 5s per cent., which is only 5d above the lowest ever recorded. The quick closing of Australian loan cash lists also had a good effect and the markets closed yesterday in buoyant mood.

English corporation stocks and Dominion and Indian loans all participated in the advance. Foreign bonds also advanced, notably Germans which rose 10 points on the announcement of the exchange agreement and have maintained their improvement. Industrials have followed the lead of gilt-edgeds and there has been an active demand for high-class fixed interest issues and also for shares in well established companies engaged in leading domestic industries. The only unsatisfactory market is for mining shares which continues uncertain and irregular.