Financial Notes
INVESTMENTS STEADY.
Tam Stock Markets continue to be governed by a due recogni- tion of the obscurity of the international financial outlook, and at one time prices under the influence of restriction of business were inclined to sag. Latterly, however, some improvement has occurred in gilt-edged securities owing to the welcome news of the repayment by the Bank of England of dollar and franc credits. At the moment of writing, therefore, sterling ex- change, which had weakened a little, has become firmer again and British Funds and kindred stocks are also higher. I observe, however, a somewhat hesitating tone in the gilt- edged market, due to the vague rumours of some scheme being under contemplation for reducing interest on the National Debt. This is a matter to which I shall hope to make some reference in my article next week, but for the moment I do not think that investors in British Funds need become over- anxious with regard to the matter. A circumstance which has given a stimulus to the more speculative markets is the removal of contango restrictions.
Previous page