U.S. STOCKS FIRMER IN LONDON
U.S. Shares traded in London were firmer
in the wake of Wall Street's gains into record territory
yesterday, but gains were patchy with interest centered mainly
on the special situation stocks, dealers said.
    Allied Signal rose 1/2 dlr to 48-1/2 in the wake of news it
is to sell its Ampex unit for 479 mln dlrs and Union Carbide
rose the same amount to 29-1/4 on rumours of a broker's
recommendation. General motors added 1/8 dlr at 81-5/8 after
after news of production schedule announcements and ahead of an
an analysts' meeting on Thursday. Ford rose the same amount in
sympathy to 90-1/4. IBM was unchanged at 149-1/2 dlrs.
    Drug stocks showed gains of around 1/8 to 1/4 dlr as seen
in Merck at 165-3/4 and Lilley at 99-1/4.
    Among few losers Xerox fell 1/2 dlr to 77 after the company
declared a shareholder rights plan designed to thwart unwanted
takeover attempts.
    Operators expect Wall Street to open mixed to higher and
anticipate a period of consolidation after the recent firm
trend.
 REUTER
