BULL MOVEMENT ON 'CHANGE

Hawke's Bay Herald-Tribune, Issue 173, 9 August 1937, Page 5

BULL MOVEMENT ON 'CHANGE

5h— Press Aasn.

Base Metals Strong With Rising Values BUTTER VERY FIRM

(By Telegrai

— Copyright.

(Received 9, 12 noon.) LONDON, Aug. 8. Stock markets, contrary to expecta tions, are rising, with the tnnperatur steadily increasing, a number of inves tors seeking 'to join in what appeati to be the beginning of an autumn bul movement. Kaffits have risen substantially in th( past fortnight, somO as much as 50 pe c nt. The rubber market is active an leading issues rose substantially. Oil are also bctter and au excellont tom prevails. Heavy industrials, notably Vickerg and commodities also participated it the revival, especially base metals, tii being mOst active. The Financial Newi msiders fchat if consumers rush in th market price may rise to £300. Tho In estors' Chroniele emphaaises the faci that, despite the expanding Output, al base metalB stocks are not increasing The situation eontains the germ of an other boom, but if Consumers continu* to purchase their supplies hand t( mouth, this may be averted, as ther is no danger of actual metal shortage. The butter market is featureless though firm. There is little busiiiesi and consequently prices are tiominal Lower offers have been occasionally ae_ cepted but some traders anticipate thai the market will turn even stronger Cheese is most quiet and quotations are also nominal. There has been a shrap rise in the past week or two on medium-weighl Uiftbs, Supplies being limited and Well held. Prices are likely to remain firm as no supplies of Australian lamb are available and none are likely to arrive before October. Mutton continues weak while beef is firm. The aggregate New Zealand and Australian arrivals of apples totallec 4,546.000 boxes, compared with 5,131,00c for lr.st year, and pears 804,000 as compared With 697,000.