DULL MARKETS IN BRITAIN

Timaru Herald, Volume CXLV, Issue 21211, 5 December 1938, Page 7

DULL MARKETS IN BRITAIN

Effect of European Uncertainty Weakening Commodity Price Levels Little Hope of Immediate Improvement United Press Association—By Electric Telegraph—Copyright (Received December 4, 6.30 p.m.) LONDON, December 3. The Italian bellicosity against France overshadowed the close of the stock markets, counterbalancing a disposition to seek further profit from M. Daladier’s victory’ against Labour. Commodities Affected Meanwhile the situation throughout the week stagnated most commodity markets and prices are not expected to rise before Christmas. “Bullish” interpretation of the reimposition of the copper quota last week, failed to present copper leaving i sharp decline, placing the American export price at 80 cents below domestic level, which possibly may be undermined. New Zealand and Australian butter recovered slightly, due to a temporary shortage of arrivals. The holders of cold stores stocks are not selling at the present low levels. Fairly heavy arrivals are expected at the week-end, while 20,000 or 120,000 boxes of New Zealand butter are going to Germany. The market for New Zealand and Australian in the immediate future is expected to be quietly steady at current levels. Cheese is quiet. Heavy stocks of eg 6 s due to mild weather in Europe, suggest that prices will be lowered next week. The Bradford wool market needs a fillip. Quotations for crossbreds have been maintained, but users are unwilling to buy at prices dictated by New Zealand and London sales.