• Short Summary

    British share prices bounced back on Tuesday (20 August) after falling to a 15-year low point on Monday (19 August).

  • Description

    British share prices bounced back on Tuesday (20 August) after falling to a 15-year low point on Monday (19 August).

    The Financial Times Index of 30 leading shares fell below the 200-point barrier on Monday night, the first time since 3 October, 1958.

    By noon on Tuesday the index had risen by 12.3 points. However it eased slightly in the afternoon but closed still 12 points up on the day at 211.9. Two and an half years ago the index hit a high point of 543 and so far this year has dropped 42 per cent after standing at 344 at the end of December.

    Confidence has been eaten away by a combination of economic factors. The cash position of most companies has been squeezed by continuing high inflation accompanied by price controls and stiff Government taxes on profits.

    General fears of inflation and possible recession have been reinforced by high interest rates, the impact of higher oil prices, a massive balance of payments deficit and wariness of the Labour Government's plans for future nationalisation of British industry.

    A stockbroker who spoke to Visnews reporter Jonathan Wallace as the Index began its recovery today, was hopeful it was the beginning of a consolidation period for the Stock Exchange.

  • Tags

  • Data

    Film ID:
    VLVADUGEG27TYRQSUQO8LRIEKZBJR
    Media URN:
    VLVADUGEG27TYRQSUQO8LRIEKZBJR
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    20/08/1974
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:27:00
    Time in/Out:
    /
    Canister:
    N/A

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