The Archive · 1934

LONDON STOCKS

Stock Exchange: The outstanding levant of the week was the revival of the investment demand for nearly all high-class Government securities. The demand for gilt-edgeds was [stimulated by the early success of the recent new issues on the three: er cent. basis and by rumours 2 snew Government operation; several sues reached new high records. Among foreign bonds, Japanese issues: continued strong owing to the good Budget figures." Brazilians also. advanced substantially and there was. good rally in German Loans.

Industrials displayed some good features, especially motor shares under the lead of Austins, which owed their strength io the satisfac-ory dividend and large bonus distribution. 'The other sections were' generally quiet.

Foreign Exchange: The market was featureless, apart from a slight weak fening of sterling to-day due to heavy commercial demand for dollars, Chinese and Japanese exchanges: were steady.

Money Market: Supplies were exceeding requirements and consequent ly loons were freely obtainable at cheap rates.

Discounts: The market continues! quiet and easy.—Reuter,

Text read from the printed page and cleaned; old type leaves the occasional error.

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