LONDON Indices near record highs

Press, 10 February 1986, Page 32

LONDON Indices near record highs

PA London Share prices ended higher on the week in moderately active trading. Dealers said market sentiment was helped by the rally in sterling after crude oil prices steadied. The better-than-expected UK January money supply figures also contributed to the advance, they added.

The FT 30 share index broke fresh ground to close at a record 1187.7 against the previous Friday’s closing of 1161.0. The FTSE 100 share index finished ten points up at 1445.0. Distillers featured with a gain of 56p at 621 p, after Argyll increased its bid to 645 p from 513 p. Argyll was lOp down at 338 p, while its rival suitor,

Guinness, shed 19p to 276. In firmer banks, Midland finished the week 55p higher at 489 after news that it has agreed to sell Crocker National to Wells Fargo for an estimated SUSI.I billion. Barclays was unchanged at 459, while Lloyds put on 5p to 464. Leading industrials were higher with ICI up 3p at 819, Hawker 20p higher at 487, while Glaxo finished 3p off at 860, having surrendered earlier gains. The change in sentiment followed a brokers’ profits downgrading, dealers said. BL ended 6p up at 36 after reaching 71p, after news of discussions with General Motors and Ford over the possible sale of its commercial vehicle and Austin Rover divisions. BL later broke off talks with Ford, bringing the price back from 71p. Extel ended 3p up at 398 p, after formal rejection of the offer from Demerger Corp worth around 409 p per share.

Among few companies to announce trading results, Newman Tonks £■ ended the week 3p up at * 134 after full-year figures. Oils finished the week £ lower after an O.P.E.C. committee meeting decision to increase O.P.E.C.’s output celling- Shell was X* one penny down at 670, *>: while BP lost 25p to 553. £ Government bonds showed gains of around g one point, with steadier Xsterling. Golds eased with the bullion price, as in J Randfontain 3U51.50 lower at $92.50, leaders $ said. Closing prices in pence on Friday of a selection of shares were:— '»■*: Ampol, 1.22; Allied Lyons, S’ 2.78; ANZ Bank, 2.31; 8.P., L, 5.50; BHP, 3.53; BAT, 3.50; Brit Oil Corp, 1.90; Brit £ Telecom, 1.86; War Loan, 347/8; Dalgety, 2.43; De Beers, 5.87; Distillers, 6.26; Glaxo, $ 8.60; ICI, 1.10; Lloyds Bank, £ 4.67; Marks And Spencer, s 1.74; North B H, 1.32; P and O, 4.63; Plessey, 1.90; Pruden- J tial, 7.99; Reed Int, 7.04; RTZ IJ reg., 5.67; Shell Transport, 6.68; Thorn ord., 3.99; Tozer KM, 0.78; West Mining, 1.69. "J