MORE CHEERFUL TONE.

Waikato Times, Volume 107, Issue 17965, 10 March 1930, Page 7

MORE CHEERFUL TONE.

ON LONDON EXCHANGE STREAM OF SALES STOPPED. FEELING OF MILD (OPTIMISM. - United Press Assn.—Elec. Tel.—Copyright. (Received March 10, 9.30 a.m.) (LONDON, March 9. The Stock Exchange is at last showing signs of recovery from a long period of depression. Early this week the dullness still prevailed, but political developments and the better monetary outlook brought about a more cheerful tone, and a reduction of the bank rate gave a further stimulus, with the result that the market closed yesterday with prices generally firm and a feeling of mild optimism abroad. There has not yet been any great increase in buying on the part of the public, but the stream of sales by neoessitious holders has been checked, and as the influence of the cheaper money spreads some expansion of business may be expected, but there is unlikely to be any sharp recovery in tlie market, for investors have been having a bad time for some months, and it cannot be expected that their confidence will be restored in a moment. 'There is also uncertainty about what the Budget will bring forth, and until that'is out of the way investors are likely to hold their hands. That they are not disposed to operate is shown by the result of several new issues, of which very large proportions, 70 and 80 per cent., have been left; with the underwriters.