TRADE REVIEW

Waikato Times, Volume 116, Issue 19458, 24 December 1934, Page 7

TRADE REVIEW

FIRM TONE IN LONDON. NEW YEAR PROSPECTS GOOD. ACTIVITY IN MONEY MARKET. United Press Assn.—Elec. Tel. Copyright (Received Dec. 24, 10.30 a.ta.) LONDON, Dec. 23. Although business on the Stock Exchange is not particularly active, there has been a tone of cheerfulness in all markets, prices generally being firm. Gilt-edged securities have appreciated somewhat, and Dominions’ stocks, though not in great demand, have shown strength. Industrials have been active, with a steady investment demand for shares in companies engaged in luxury trades. The optimistic speech of the Chancellor of the Exchequer, Mr Neville Chamberlain, in the House of Commons yesterday, in which he said he expected a further increase In thfe wholesale prices, with the continuance of cheap money, and that an international currency standard is likely, has had a good effect on the Stock Exchange.

The outlook for tho new year appears good.

There has been considerable activity in the capital issue market, borrowers taking advantage of the favourable monetary conditions.

Christmas trade throughout the country has been wonderfully good, and is generally described as far tho best in any post-war year. <

The huge note circulation of over £401,000,000 disclosed by the Bank of England return shows that people had £25,000,000 more to spend than last Christmas, ami they have been spending it. The shops in London and the provinces were crowded all the. week. It is reported that four big stores in London between them have taken nearly £1,000,000 tiiis week. The egg "market had a sharp setback as the result of the mild open weather. Here and on the Continent there lias been largely increased production, and Germany has placed an embargo on egg imports till January 1, 1935. Consequently there have been heavy arrivals of Dafaish, and the prices of 15's have fallen from 17s 6d to 12s per 120. The prospects appear unfavourable unless the weather turns cold.