SURVEY OF STOCKS

Gisborne Herald, Volume LXVI, Issue 20111, 4 December 1939, Page 10

SURVEY OF STOCKS

BRITISH MARKET GILT-EDGED REVIVAL DOMINIONS BRIGHTER (hire. Tel. Copyright—United Tress Assn ) (Rccd. Dec. 4. 9 a.m.l LONDON. Dec. 2. Comprehensively surveying the stock markets since the war. the Investors Chronicle says, that the stock exchange thus far has be.en at least convinced the Government will win the war against inflation and also raise loans on its own terms. . Gilt-edged securities have returned to J'une levels. Dominions- and colonial stocks are even better. Investors appeared to expect that gas and electricities will be most severely hit by the war. Among the equities newspapers and motors reveal similar fears. The groups concerning which the market is in two minds' are provisions, aviations, iron and steels and shippings. Investors at first, favoured shippings, but it is now clear that the last war’s profits cannot be repeated owing to the inadequate freight rates. Aviations are affected by. the fear of a profits tax and the possibility of a short war. The sluggishness of iron and steels is somewhat surprising. They appear to be under-valued. The movement in the chemical index hardly reflects the industry’s vital part in the war. Coal in the same way. does not discount its bright prospects. ■Silk is the strongest among -the-tex-tiles. The cotton and- wool indices are likely to be substantially higher shortly. Commodities and land companies provide the fireworks', with the exception of copper, lead, zinc and oils. The index of tin is the highest since the end of 1937. Rubbers arc the' highest since October. 1937 Lands are quieter but promising.