LONDON STOCK EXCHANGE

Evening Post, Volume CVIII, Issue 17, 21 January 1924, Page 7

LONDON STOCK EXCHANGE

DOMINATING INFLUENCES.

(UNITED PRISS ASSOCIATION.—COPIRIGHT.) (AUSTRALIAN-NEW ZEALAND CABLE ASSOCIATION.)

(Received 21st January, 9 a.m.)

LONDON, 19th January. The dominating influences on the London Stock Exchange have been fluctuations in foreign exchanges and, to a lesser extent, the home and political situation.

The collapse of the franc and the serious decline in sterling in New York, naturally caused much depression in the foreign market, which was reflected in other departments. Early in the week there was considerable selling of snltedged securities, including "Colonials " The partial recovery of the franc towards the week-end, following the announcement of the French Government's taxation policy, had a good effect, and produced more in the stability markets, though prices only showed a slight improvement. s

In connection with the decline in values of some Colonial Government stocks it may be pointed out that this fall practical y corresponds«iii amount with that of tho British Government securities, which is roughly about 2 per cent as compared with prices ruling on the eve of the-General Election; thus Consuls ara, £55 2s 6d, as compared with £57 V C?"ve'tlon £75 ss, as compared with £77 10s; New South Wate fo^jd^d^rvents- £7S 5s 'as Commonwealth Government stock* show practically no change, and fi nan . cm! -papers draw attention to the fact that Commonwealth 5 per cent „ quoted higher than 5 g ££ w «