Wall Street last week

Press, 11 May 1981, Page 26

Wall Street last week

The W’all Street stockmarket lost ground last week but showed signs of recovery towards the week-end as investors weighed fears of further United States interest rate hikes against a sign of moderation in the American inflation rate. Inflation at the wholesale level rose 0.8 per cent in April, or at an annual rate of 9.9 per cent, down sharply from March, the Labour Department reported. One analyst said traders remained cautious despite the encouraging report, citing apprehension over short-term interest rate trends. The Dow Jones industrials fell 1.99 points to close at 976.40, ending the week with a loss of 19.19 points. Closing prices on Friday of a selection of shares were:— Alcan. 32 7 s; Alcoa, 31*=: Amax, 51 1 2; Amerada Hess. 33; Amer. Motors, 4‘.s; Armco, 35’,i; Asarco, 42;

Atlßich. si‘»: Bethlehem, 27t«Boeing 32U; Burroughs, 45 l i- Con tOiI. 56’4: Dome Mines. 9F» ’dow 33 7 s; Engelhard. 45'i FiesS' HU. Ford. 22=.: Freeport 34‘r Gen Dynamics. 32'1: GenElec 63 7 >- Gen Motors, 52'5; Centres, ’ 23’r Goodyear, 18’6: Greyhound, I7’.t Grumman. 23 7 s: Gulf Oil 341/ Homesiake. 59'2; IBM* 571.“ IntlHarv, 17‘ s ; Inco. 19’ 8 ; j ohn ’’ Manville. 21’«; Kaiser Alum. 23 3 <- Kennecott, 58 s s; Lockheed. 331 i Mol bit. 61 7 s: NCR. 66; Newnwnt 67’<Phelps Dodge, 45‘.; Phil Pet, 42’J Reynolds Met, 351«; RoyalDutch’ 37 3 s; StJoe. 48’»; Socal, 44 7 i- Tex’ aco, 36’i; Union Oil, 36G; Union Car bide, 55; USSteel. 32; Westinghouse 32’4; Wwths. 24’». ® * ABC. 30 3 i; AmExpress. 42‘jATT. 55'»: Borden. 27*»; Citicorn’ 25: Coca Cola, 35=DigitalEq. 101 3 c Disney. 54’«: DuPont. 47 7 s; EastKo-’ ; dak, 75‘s; Exxon, 68; Haliburton ! 65 3 »: Honeywell, 93=4; ITT, 33 3 /i JandJ. 105’4; KMart. -Sl’i-! McDonalds. 60 s s: McDonDoug 37»r MGM. lOU; MMM, 59 7 , 5 ; Monsanto’l 71; Pfizer, 51‘a; Polaroid, 26 s iRaytheon. 97’i; RCA, 26; Sedco’’ 36’s; Seagram. 52 7 >; Searsßoe.’i 18 7 s; Sperryßand. 51’4; Texaslnst 110’a: Xerox. 57»».