“DECIDEDLY BETTER”

Taranaki Daily News, 16 April 1935, Page 5

“DECIDEDLY BETTER”

LONDON STOCK EXCHANGE.

SEVERAL FACTORS OPERATING. ’

By Telegraph—Press Assn.—Copyright

London, April 13.

Although the London Stock Exchange has not displayed much activity lately the general tendency of the markets has been decidedly better. Gilt-edged securities show an improvement all round and industrial and African goldmiriing shares also hardened. With more business doing there is a general air of optimism, thanks to the expectation that the Budget will afford some relief to taxpayers by way of restoration of personal allowances and exemptions, though apparently all hope of a reduction in the standard rate of income tax has gone.

Another factor contributing towards the cheerful tone is the prospect that the Stresa conference may have good results, while satisfactory featured at home are a general improvement in commodity prices and the decision of building societies to cut the rates of interest on mortgages by a half per cent., a concession which will affect an enormous number of householders. President Roosevelt’s unexpected action in raising the official buying price of American silver caused a wave of speculative excitement in the London market. Buyers came from every quarter. with the result that the price rose to 31 5-16 d an ounce, the highest touched since January, 1926.