THE STOCKMARKETS

Wanganui Chronicle, Volume 82, Issue 288, 6 December 1938, Page 11

THE STOCKMARKETS

OVERSHADOWED BY ITALIAN BELLICOSITY. SLIGHT RECOVERY IN BUTTER PRICES. LONDON, Dec. 3. The Italian bellicosity against France overshadowed the close of the stock markets, counter-balancing the disposition to seek further profit from M. Daladier’s victory against Labour. Meanwhile the situation throughout the week stagnated and most commodtiy markets and prices are not expected, to rise before Christmas. The bullish interpretation of the reimposition of the copper quota last week failed to prevent copper leading a sharp decline and placing the American export price 80 cents below the domestic, which possibly may be undermined. New Zealand and Australian butter recovered slightly, due to a temporary si ortage of arrivals. Holders of cold-itcred stocks are not selling at tee present low levels. Fairly heavy arrivals are expected at the week-end, while 20,000 of 120,000 ’ boxes of New Zealand butter is going to Germany. The market for New Zealand and Australian in the immediate future is expected to be quietly steady at the current levels. Cheese is quiet. The general heavy stocks of eggs, due to the mild weather in Europe, suggest that prices will be lowered next week.

The Bradford wool market needs filling. Quotations for crossbreds have been maintained but users are unwilling to buy at the prices dictated by the New Zealand and London sales.