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declining issues slightly outnumbered advancing issues N to N
investors switched trading focus quickly as they did tuesday reflecting uncertainty about long-term commitments to any issue or sector traders said
speculation on the other hand sparked buying in certain <unk> issues though rumors underlying such shares eventually proved <unk>
the development traders said showed that there is more than ample liquidity available for investment despite the market 's recent <unk> trend
dealers led the market wednesday by actively trading for their own accounts observers said
institutions mostly remained on the sidelines because of uncertainty regarding interest rates and the dollar
the tokyo stock price index <unk> of all issues listed in the first section which gained N points tuesday was down N points or N N at N
the second section index which added N points tuesday was up N points or N N to close at N
volume in the second section was estimated at N million shares up from N million tuesday
<unk> <unk> managing director of nomura investment trust management said that if the u.s. federal funds rate declines to around N N institutions would acquire a <unk> idea regarding the direction of the market and thus more <unk> participate in active buying
tokyu group mitsubishi estate and <unk> which advanced tuesday declined on profit-taking
wednesday 's dominant issue was <unk> fire & marine insurance which continued to surge on rumors of speculative buying
it ended the day up N yen N cents to N yen $ N
due to <unk> high gold prices tied to uncertainty about the u.s. currency investor interest was directed toward oil and mining shares which traders called a defensive action frequently taken when the dollar is expected to fall or during times of inflation
<unk> oil also <unk> by rumors of speculative buying advanced N yen to N
<unk> shell gained N to N and mitsubishi oil rose N to N
<unk> metal mining fell five yen to N and nippon mining added N to N
among other winners wednesday was nippon <unk> which was up N at N
<unk> advanced N to N
london share prices were bolstered largely by continued gains on wall street and technical factors affecting demand for london 's blue-chip stocks
the financial times-stock exchange 100-share index closed N points higher at N
it rose largely throughout the session after posting an intraday low of N in the first N minutes of trading
the index ended the day near its session high of N which was posted within the last half-hour of trading
dealers said most investor interest was focused on defensive blue-chip stocks particularly those with limited u.k. exposure
also several key blue chips were pushed higher in thin volume because of a technical squeeze among market makers
sterling 's firm tone combined with a steady opening on wall street also <unk> some investors to come back to the market dealers said
there were concerns early in the day that wall street 's sharp gains on tuesday were <unk> and due for a reversal
the <unk> 30-share index settled N points higher at N
volume was N million shares up from N million on tuesday
dealers said institutions were still largely <unk> the sidelines on fears that the market 's recent technical rally might prove fragile
they cited wall street 's recent volatility and the lack of a clear indication over the market 's short-term direction as factors in the institutional caution
jaguar a u.k. luxury auto maker being pursued by ford motor and general motors gained N pence N cents a share to close at N pence $ N
it shed about N pence however after dealers said the market was disappointed that ford did n't move to tender a bid for control of the company
dealers said the u.k. government 's decision tuesday to waive its <unk> golden share in the auto maker raised prospects of a bidding war between the two u.s. auto giants
but the waiver also was seen as a signal that ford a major u.k. auto industry employer was able to gain government acceptance of its bid for control of jaguar
dealers said that interpretation sparked expectations of an imminent bid by ford
b.a.t industries which is being pursued by sir james goldsmith 's <unk> investments rose N to N on speculation that <unk> will <unk> its bid dealers said
like jaguar b.a.t also eased off its highs in afternoon dealings
reed international a u.k. publishing group gained N to N despite reporting a N N drop in interim pretax profit
analysts said the fall in pretax profit was due to the group 's recent restructuring and sale of peripheral units and that its remaining businesses are performing well
dealers said the market agreed
stocks boosted by market-makers shopping to cover book requirements in ft-se N shares included <unk> communications which climbed N to N
drug companies in the key index also <unk> gains as market-makers searched for stock in anticipation of demand due to the sector 's defensive <unk>
wellcome gained N to N on a modest N million shares
<unk> the u.k. 's largest pharmaceutical concern advanced N to # N
stock prices closed higher in stockholm amsterdam and frankfurt and lower in zurich
paris brussels and milan were closed for a holiday
south african gold stocks closed marginally lower
elsewhere share prices closed higher in singapore taipei and wellington were mixed in hong kong lower in seoul and little changed in sydney
manila markets were closed for a holiday
here are price trends on the world 's major stock markets as calculated by morgan stanley capital international perspective geneva
to make them directly comparable each index is based on the close of N equaling N
the percentage change is since year-end
the following issues were recently filed with the securities and exchange commission
<unk> corp. offering of N common shares via goldman sachs & co. and <unk> <unk> & <unk> inc
<unk> water co. offering of N shares of common stock via legg mason wood walker inc. and howard weil <unk> <unk> inc
<unk> <unk> resources inc. initial offering of N common shares to be offered by the company via chicago corp
<unk> municipal fund inc. offering of five million common shares
occidental petroleum corp. shelf offering of $ N billion in senior debt securities
prime motor <unk> inc. offering of up to $ N million zero coupon convertible debentures via drexel burnham lambert inc. and montgomery securities
service <unk> co. proposed offering of N million shares of common stock via <unk> mitchell <unk> & garrison inc. and blunt ellis & <unk> inc
western gas resources inc. initial offering of N shares of common stock of which N shares will be sold by the company and N shares by a holder via prudential-bache capital funding smith barney harris upham & co. and <unk> <unk> inc
hold the <unk>
with <unk> <unk> <unk> and <unk> there are still beauty plans left to tackle but as the years go by it seems that before i <unk> i should <unk>
pat <unk>
criminal charges were filed against <unk> electronics inc. and two company officials alleging waste disposal violations in its <unk> calif. facility
the los angeles county district attorney 's office filed seven felony and five <unk> counts charging that late last year and early this year the irvine calif.-based <unk> manufacturer illegally <unk> of acid <unk> and heavy metals into the <unk> system and <unk> hazardous materials in <unk> <unk> or <unk> containers
named as defendants were <unk> matthews president and peter <unk> executive vice president and chief financial officer as well as a former plant manager
the company said local authorities held hearings on the allegations last spring and had returned the plant to routine inspection in august
the company does not feel that it or any of the individuals violated any criminal statute and the company expects full <unk> in court
<unk> are scheduled for nov. N
consumer confidence stayed strong in october despite the <unk> gyrations of the stock market
the sharp stock market decline in late october appears to have had little or no effect on consumers said <unk> <unk> executive director of the conference board 's consumer research center
survey returns received after the drop in the dow jones average were about the same as the views expressed prior to that event
the nonprofit <unk> group said its consumer confidence index was N in october barely changed from a revised N in september
the index was N in october N and in the past year has ranged from a low of N to a high of N
it uses a base of N in N
in october more people said that present business conditions were good than in september
an equal number in each month said that employment conditions were good
and N N of consumers contacted believed business conditions will improve in the coming six months compared with N N in september
also more people said conditions will worsen in the period
fewer said conditions wo n't change
in october N N N said business conditions would improve
in october N N N said more jobs will be created in the coming six months compared with N N in september and N N in october N
only N N in october compared with N N in september and N N in october N said income would increase
the sustained level of confidence can be attributed to the continued favorable circumstances which affect the consumer 's day-to-day economic life said mr. <unk>
unemployment continues at a relatively low level providing a sense of job security and a low inflation rate has kept the purchasing power of the weekly <unk> reasonably strong
the consumer confidence survey covering N u.s. households is conducted in the first two weeks of each month for the conference board by national family opinion inc. a toledo ohio market researcher
buying plans were mixed in october with fewer households indicating plans to buy cars and more saying they will buy homes and appliances in the coming six months
in october N N of respondents said they will buy a car easing from september when N N anticipated a purchase
in october N N N said they would buy a car
home purchase plans increased to N N from N N in the two recent months
in october N N N said they would buy a house
in N home purchase plans have ranged monthly from N N to N N of respondents
in october N N said they will buy appliances in the coming six months compared with N N in september and N N in october N
despite a <unk> of economic news the treasury market remained quiet but the corporate market was <unk> over international business machines corp. 's huge debt offering
there were so many economic reports but the market did n't care about any of them said <unk> <unk> a money market economist at drexel burnham lambert inc
so the focus turned to other fixed-income markets corporate and mortgages in particular she said
ibm the giant computer maker offered $ N million of <unk> 30-year debentures priced to yield N N or about N percentage point higher than the yield on 30-year treasury bonds
the size of ibm 's issue was increased from an originally planned $ N million as money managers and investors scrambled to buy the bonds