REVIVAL EXPECTED

Hawke's Bay Herald-Tribune, Volume 81, Issue 32, 1 November 1937, Page 7

REVIVAL EXPECTED

-Press Assn.-

British Stock Exchange Prices review of markets

cBy Telegraph-

-Copyright.)

(Received 1, 10.40 a.m.) LONDON, Oct. 31. There is a widespread feeling that the markets have touched bottom. Responsible brokers are advising clients to buy becauSe they believe that the Stock Exchange is about to experience a great revival. The gilt-edged market has certainly been strong. There has been persistent buying of Government stocks in the past few days. The technical position of the markets is excellent for investors. The News-Chronicle, however, whiile agreeing that rally is long overdue, considers that there is no likelikoOd of a major revival carryiilg prices to the levels ruling at the beginning of the year. Private building in Britain has passed its peak, and there has bccn a distinct falling-oif during the last quarter in new ehipbuilding. The demand for heavy electrical goods is lower than at the beginning of the year. Th0 Ecouomist's survey of th© state of trade commente: "The volume of business activity in Britain remains at a record level and., despite the failing of security and commodity prices^ is sufficient to cnable many branches of activity to maintain their current volume of output for many months ahead. Iron, steel and other metals are being used and industries are still favourably placed. Deliveries" of many products, especially of machinery, romain below requirements. "The cotton and wool textile trades have experienced a definite reduction of new business. The consumption trades are most active, which is not surprising in view of the Bteadilygrowing national income. "The recoverv of Wall Street unfortunately has not extended to metals. "OniteS States copper producers have lowered the domestic price, but saies remain poor. The lead position also is discouraging. ' '