20 MAY 1966, Page 27

Investment Notes

By CUSTOS

THE seamen's strike had little effect on equity share markets, but depressed the gilt-edged market, which is sensitive, of course, to move- ments in the sterling exchanges. Nor did the slump in Wall Street affect our equities. This may seem more surprising, but it should be remembered that with an investment dollar pre- mium as high as 25 per cent or more and with an American tax putting up the cost of British shares to an American national by 15 per cent, the two markets are now more or less isolated.