STOCK EXCHANGE IS MIRROR OF OPINION.

Chronicle (Levin), 31 July 1947, Page 5

STOCK EXCHANGE IS MIRROR OF OPINION.

LOXDON, July 30. The pa.st few tlays have been the worst on the stoek exchange sinee Eebruary when the fuel cut hit the ,stock exchange market says Reuter's finaxicial editor. This time the reason is the growing concern about the economxe position and also the political outlook, as^ talk is reviving of the possibility ot a general election. It is realised that Ainerican dollars are running out fast and Britain may have to wait soirte time and agree to certain conditions before the Marshall plan ean operate. Many millions sterling have been shed from the market value of giltedged and popular home industrials. Many long and medium dated Britislx funds are standing at the 3 per cent basis. It is impossible accurately to estim- ! ate the loss of market valuation of the j whole industrial list 'but it has been computed that gilt-edged declined £53,000,000 this month. The efl'ect on other seetions of the exchange generally has been to restrict trading with the exception of oil speeu tors, many of whom decided to consoli date their liandsome prolits. This re sulted in sharp declines in leading oils. Perhaps the most satisfactory section has been mining shares where prices are not unduly disturbed although business has contracted. Generally the stock market outlook is not too favourable and there is little to tempt nevv buyers at present.