ECONOMIC OUTLOOK
SCEPTICISM IN THE CITY OF LONDON DULL MARKET FOR GILT-EDGED STOCKS. LACK OF BUSINESS OPTIMISM. By Telegraph—Press Association—Copyright. (Received This Day, at Noon.) LONDON, December 16. The City is still sceptical regarding economic prospects. A calmer short term view of the political situation has returned, but the improvement of sentiment is not reflected in prices. It is felt that Mr Neville Chamberlain's speech indicated a less hopeful view of appeasement prospects, while his firmer attitude is welcomed. Politically, the outlook does not restore business optimism. Sir John Simon’s refusal to consider perpetuating the temporary increase in the fiduciary issue has not encouraged gilt-edged securities. Scattered selling found no buyers. Colonial stocks are dominated by the nervousness of holders of Australian bonds regarding the prospects of the conversion issue, which closed at a 3 per cent discount.
New Zealand stocks at first suffered some repercussion from this cause, but later were supported.
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Wairarapa Times-Age, 17 December 1938, Page 8
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153ECONOMIC OUTLOOK Wairarapa Times-Age, 17 December 1938, Page 8
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