Nuclear stocks lose on Wall Street
N u c 1 e a r-power stocks posted widespread losses on tfie Wall Street stockmarket on Friday, as investors became wary of the situation at the nuclear plant near Harrisburg, Pennsylvania. The Dow Jones average of 30 industrials dropped 4.59 points to 862.18, to cut its gains for the week to 2.43. Wall Street opened the week on an easy note amid caution about oil price prospects. Analysts said the market was bracing itself for more moves towards higher oil prices by the Organisation of Petroleum Exporting Countries, meeting in Geneva on production and prices. An Iranian official said his country was backing a 29 per cent increase. i However, on Tuesday the market rallied in response to I a smaller than expected i price increase by the O.P.E.C. nations. On Wednesday the market was mixed as profit-taking
set in, and this continued on Thursday. Closing prices on Friday of a selection of stocks were: Alcan. 353; All. Stores, 213; Alcoa, 543; Amax, 54J; Amerada Hess, 303; Am. Mtrs, 9J: Armco, 213; Asarco, 201; Anaconda, 13J; ARCO, 61«; Bethlehem, 24.1; Boeing, 65; Boise Case., 351; Burroughs, 702; Cleve. Cliffs, 312; Colt, 392; Cont. Oil, 333; Cyprus, 32; C. 8.5., 46.1; Crane, 293; Dome, 903; Dow, 28; Engelhard, 39.'.; Firestone, 13J; Ford, 433; Freeport, 403; G.M.C.. 57; Gen. Dvn., 323; G.E.C., 48; Gen. Tyre, 233; Getty Oil, 143 J; Goodyear, 163; Greyhound, 12; Grumman, 16; Gulf Oil, 261; Gulf Res., 13; Heinz, 40; Homestake, 34g; 1.8. M., 315; 1.H., 393; Inco, 203; Johns Manv., 242; J. and J., 684; Kaiser, 20g; Kenneeott, 24J; Kerr McGee, 51; Lockheed, 21; Louisiana Land, 27J; Lukens, 15g; Martin Marietta, 323; Merrill Lynch, 181; Mobil, 743; N.C.R., 693; Newmont, 263; Occ. Oil, 212; Phelps Dodge, 293; Phillips Pet., 34g; Pittson, 22J; Proler, 263; Pullman, 33g; Rep. Steel. 26J; Reynolds, 37'; Royal Dutch, 68’; St Joe Min., 273; Seaboard. 253; Shell Oil, 37; Shell Trans.. 64J; Socal, 473; Soind., 592; Sohlo, 493; Exxon, 52J; Texaco, 253; Texas Gulf, 243; Union Oil Cal., 643; Union Carly., 393; U.S. Steel, 24!; Westinghouse, 183; Wwth, 23.
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Press, 2 April 1979, Page 25
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353Nuclear stocks lose on Wall Street Press, 2 April 1979, Page 25
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