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[[newspaper clipping]]

[[underlined]] Market Pointers [[/underlined]]

Fresh Advance in Gilt-Edged
[[line]]

Stores, Motor and Radio Groups Fall

The Funds developed strength, but equities were subdued and sharply lower on the decision for an Autumn Budget.

At 8,869 the "markings" total compared with 8,035 on Wednesday and 9,785 on Thursday last week. 

The further advance in gilt-edged carried War 3 1/2 p.c. up to 80 3/8 in early dealing, and, on balance, a net rise of 1/2 was held at 80 1/4.

Gains of 1/2 also occurred in Gas 3 p.c. at 75 7/8. Transport 4 p.c. at 93 18 and Transport 1978-88 at 77. Electric scrip rose to 3/8 premium.

Uncertainty was renewed in Costa Rica Rly. Ordinary, a point lower at 18, "Can. Pacs." hardened to $56 3/4 on New York opening advices.

Courtaulds, 1s 9d down at 41s 6d, were among many industrials which failed to rally. Dunlop dropped 1s 1 1/2d to 25s 6d and Bt. Aluminum 1s 6d to 48s 6d.

I.C.I., at 45s 6d, were at the worst and 1s 7 1/2d down. Fisons fell back 1s 6d to 56s and Laporte weakend to 16s 41/2d.

Purchase tax uncertainties caused heavy falls in the motor, radio and stores groups.

Rolls-Royce lost 4s 3d at 103s 6d.  Bt. Motor at 9s 9d, Ford at 41s 10 1/2d, and Standard at 9s 1 1/2d were all lower.

J. & F. Stone at 26s 6d and E.K. Cole at 18s 9d were down 1s 6d. Plessey Co. dropped 4s 6d to 63s.

Among stores shares United Drapery at 48s 9d and "Marks A" at 62s showed losses of 2s 3d. ""Gussies A" were flat at 39s 6d with Debenhams at 39s.

Hire purchase units gave way. United Doninions losing 3s 6d at 69s 6d. Bowmakers weakened to 18s 9d and Olds Discount to 18s 6d.

Vickers rallied from an early "low" of 36s 9d to 37s 6d, but "Tubes" lost 2s at 90s 9d and Stewarts & Lloyds fell from 67s 3d to 65s 9d.

English Electric new units dropped to 29s before a partial rally to 29s 7 1/2d. "B.I.C.C." declined to 45s 6d. 

The premium on Simon-Carves narrowed to 5s and Pressed Steel new fell to 2s 9d premium. Hall & Co. eased by 1s6d to 101s on the rights offer.

Dealing started in Savory & Moore Ordinary at 6s 6d, Limit Engineering 1s shares at 2s 3 1/2c, and Celotex 5 1/2 p.c. Preference at 32s 6d.

Butlins were firm at 2s 3d on the 7 1/2 p.c. interim payment, but passing of the dividend depressed Lightalloys to 4s.

Borneo Co., 1s 10 1/2d lower at 48s 9d, were sensitive to the decline in profits.  On the announcements.  Expert Tool weakened to 3s 6d and Wm. Fulton to 3s 1 1/2d.

Bagdad Light strengthened to 88s 6d and Stanley Motors at 20s 6d, and Portals at 14s were also among the few firm market exceptions.

In the oil group and initial relapse of 5s 7 1/2 in "B.P." to 95s was reduced to 1s 10 1/2d by a partial rally to 98s 9d.  Burmah closed at 67s 6d after 66s 3d.

Firmness returned to Anglo-Ecuadorian at 58s 9d after a hesitant spell at 57s 6d. Triad kept firm at $10 3/8, but a fall in £Shell£ to 6 5/32 was not regained.

Kaffirs were inactive but held firm.  West Drie. finished 5/32 higher at 5 1/2 on the good values shown in the quarterly report.

Early firmness of Rhodesian copper shares was shortlived.  By the close, Rhokana had fallen back from 42 to 40 3/4.  Tharsis Bearer revived at £6.

Fresnillo went ahead strongly to 70s.  North Kalgurli, at 7s, lost the turn following the divident statement.

[[underlined]]Money and Exchanges[[/underlined]]
STIRLING FIRMER
Sterling rose yesterday on New York and on most Continental [[?c?]]entres.  It closed another 3/8C higher [[a?]]t U.S. $2.79 11/32.  While Canadian [[?d?]]ollars were quoted easier at $2.79 7/32.  [[?G?]]old was fixed 1d lower at 250s 7d [[an?]] oz.

Transcription Notes:
There are numbers that appear to be fractions. I've added a fraction symbol for clarification.