BRISK BUSINESS

Wanganui Chronicle, Volume 83, Issue 258, 1 November 1939, Page 3

BRISK BUSINESS

HEALTHY SHARE DEMAND I STRENGTH OF AUSTRALIANS _ There were no signs of any diminui tion in turnover on the Auckland Stock Exchange during the past xveek, i and in spite of the prevailing condii lions business was brisk, states Saturday’s Auckland Herald. The advance in prices was maintained, with a ' slight steadying at the close. Australian industrials again were in . the forefront in an active and rapidly | rising market. In many cases levels ' are approaching the year’s highest : point: indeed, so strong was the rise ' that it was inclined to lead to the ■ danger of a false market being created. However, a pause in the upward swing occurred in the middle of the week, and investors were inclined to mark time toward the close. The slight reaction, rather than showing signs of weakness, was due more to the fact that such a high premium I was being shown over Australian levels, but with a further rise in the Commonwealth, this trend was being t i) i; acted at the close of business. London Ixurn Market .-Substantial dealing was done in { Government loans. The market in ■ London has reacted most favourably 'to the expectations of satisfactory ! produce prices, and the trend was also | shown on the local market. Following is a comparison of the I ’evels ruling a year ago for a selected number of Government loans, compared with those of the last two > weeks:— Oct. Last This 28, week week 1938. iSlmk, 15 1 53-57, 3s 93i’ 92 91/ I Ditto, 15/1/46-49, 4 99ii 96/- 97i ’> 6 52-55, t 99/ 96C 971 Buyers. tSellers. tEx interest. ; While there were no transfers to test the market, Bank of Nexx Zca- ■ lands attracted strong support. Nationals of New Zealand, on the other ■ hands, were weak. Overseas issues '[firmed steadily. Insurances again I were a strong point, and in spite of I offers being raised, holders were not i keen to enter the market. i The classified sections generally i were irregular, practically the only j feature being greater activity in ' timber scrip. Although completely . overshadow ed by the activity in Aus- | tralian issues, New Zealand indus-.-trials held their ground, but the scat- - tered inquiry was in marked contrast i to the almost insatiable demand for I Australians. Fiji gold shares were ? strong, but metals yielded some • ground later in the xveek.