WALL STREET LAST WEEK

Press, Volume CXII, Issue 33066, 6 November 1972, Page 22

WALL STREET LAST WEEK

Share prices in strong rally

Share prices on Wall Street last week staged a solid recovery and rose markedly on each day of the week, in heavy trading. The Dow Jones index closed on Friday at 984.12 —a rise of 37.5 points on the week and the highest point since December 3, 1968, almost four years ago, when the average reached 985.21.

Institutional investors were active, and block trading was heavy. “I think we’re having a pre-election rally at last” said Mr Bradbury Thurlow, research director at Landlaw and Company, “there are indications that Senator McGovern is not closing the gap on President Nixon, and Vietnam peace is accepted as a reality.”

Analysts said the market appeared to be celebrating the expected anticipated reelection of President Nixon tomorrow.

But they noted too that the investment community was confident that the Vietnam war might be over soon, despite indications that there may be a further delay in signing a peace settlement. Closing prices on Friday of some of the selected stocks were:

Aican, 214; Alcoa. 481 xd; Amerada Hess, 44J: Amax, 28} xd; £f> ar £?’i l B L xd; Anaconda, 193; Atl. Richfield, 71| xd; Contin. Oil "I xd; D ““ e Mines, 612; Dow ®°|j J?yf leh , a o rd - 27 U Freeport; 24 a?, Greyhound 182; Gulf Oil 231; Homestake, 24,'; ■ Hudson Bay, 20g; 1.8. M.. 3873 m?°’v 32: I S sr - 17 j Kennecott S . IJ; L »“‘sl«na wSdf ? ,artln Marietta, 198; Mobil, 718; Newmont Mining, 291 E, h , eI P? Dodge. 38; Phillips Pet Royel Dutch’ 28J ; SheU Ou n r., Tr , a^ p 3 rt^ (untraded); C,l> Z. 4i xd; Std OU Ind., L 9 A>„ E -?? n J :orp - 851 1 Std oil Ohio, 78J; Texaco, 372; Texas