• Short Summary

    AN IMPORTANT OCCASION TODAY (THURSDAY) FOR THE LONDON STOCK EXCHANGE.... FOR THE FIRST TIME IN?

  • Description

    AN IMPORTANT OCCASION TODAY (THURSDAY) FOR THE LONDON STOCK EXCHANGE.... FOR THE FIRST TIME IN 50 YEARS, THE CITY OF COPENHAGEN BEGAN RAISING A LOAN OF 60 MILLION SWISS FRANCS (ABOUT ???50 MILLION STERLING) THROUGH LONDON. BRITISH FINANCIAL EXPERTS SEE THIS AS A SIGNIFICANT STEP IN RESTORING LONDON TO ITS FORMER POSITION AS A LEADING WORLD CAPITAL MARKET.

    THE MAYOR OF COPENHAGEN, MR. URBAN HANSEN, IS PAYING A COURTESY VISIT FOR THE OCCASION. HE WAS RECEIVED TODAY AT MANSION HOUSE BY THE LORD MAYOR OF LONDON, SIR RALPH PERRING.

    LATER MR. HANSEN WENT TO THE STOCK EXCHANGE TO SEE FOR HIMSELF THE OPENING OF DEALINGS IN THE LOAN STOCK, OFFERED ON BEHALF OF HIS CITY BY THE BRITISH COMPANY, MORGAN GRENFELL LIMITED. SHOWN AROUND BY THE EXCHANGE'S DEPUTY CHAIRMAN, MR. KNOX, THE COPENHAGEN MAYOR SAID: "WE ARE DELIGHTED WITH THE STOCK AGREEMENT."
    ACCORDING TO FINANCIAL EXPERTS IN LONDON, THE CHOICE OF SWISS FRANCS AS AN APPROPRIATE CURRENCY FOR THE LOAN HAS DISPLEASED THE SWISS NATIONAL BANK. THEY SAY IT DOES NOT LIKE A SWISS FRANC LOAN BEING MADE OUTSIDE ITS CONTROL.

    COMMENTS ON THE SWISS REACTION CAME TODAY FROM BOTH MR. HANSEN AND LORD HARCOURT, A MANAGING DIRECTOR OF MORGAN GRENFELL. MR. HANSEN SAID COPENHAGEN'S BANKERS HAD FIRST APPROACHED THE SWISS CAPITAL MARKET BUT HAD BEEN TOLD TO TRY ELSEWHERE AS THE SWISS MARKET WAS OVERLOADED WITH OTHER FOREIGN BORROWERS.

    LORD HARCOURT'S COMMENT WAS THAT THE SWISS FRANC WAS ONLY A "CONVENIENT METHOD OF DENOMINATING THE LOAN." HE SAID SWISS BANKS NEED NOT THAT IT WAS "THE BEGINNING OF THE INTERNATIONALISATION OF THEIR CURRENCY."

  • Tags

  • Data

    Film ID:
    VLVA64KCV3ROJOH95B4CO9X4GFN8C
    Media URN:
    VLVA64KCV3ROJOH95B4CO9X4GFN8C
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    31/10/1963
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:05:00
    Time in/Out:
    /
    Canister:
    N/A

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