WALL STREET Renewed confidence

Press, 28 July 1986, Page 32

WALL STREET Renewed confidence

NZPA-AP New York The stock market gained ground last week, renewing its bid to recover from its early-July slump. Trading was moderate. The Dow Jones average of 30 ' industrials climbed 18.42 on Friday to 1810.04, extending its gain for the week to 32.06 points. Analysts said investors seemed to be growing increasingly confident that the worst of the selling pressure that set in early this month was over.

The drop was attributed In large measure to concern that economic growth was still sluggish, and might slow further. The most recent statistics, however, have suggested that circumstances aren’t all that bad.

Larry Speakes, the White House spokesman, said today

the Government expected the growth rate for 1986 to be less than four per cent, but that it looked for greater than four per cent expansion in 1987.

Closing prices in US dollars of a selection of issues were: Alcan, 29%; Alcoa, 35%; Amer Express, 62; Amer Motors, 3%; Amerad Hes, 17%; Amer Airlines, 49%; Armco, 7%; Asarco, 11%; Atl Richfield, 46%; ATT, 24%; Beth Stl, 10%; Boeing, 59%; Borden, 46; Burroughs, 67%; CBS, 137%; Chevron, 35%; Chrysler, 37%; Citicorp, 55%; Clark Eqp, 19%; Clevel’d Cliff, 13%; Coca Cola, 40%; Colgate, 41%; Conti Data, 21%; Crane, 29%; Digital Eq, 87%; Dome Mines, 4%; Dow Chem, 54%; Du Pont, 77%; East Kodak, 55%; Engihrd 29%; Exxon, 60; Firestone, 25%; Fluor, 12%; Ford, 56; Frpt Mcmor, 16%; Gen Dynamic, 73%; Gen Electric,

74%; Gen Motors, 71%; Gencorp, 69%; Goodyear, 31%; Greyhound, 32%; Grumman, 26; Gulf Res, 12; H. J. Heinz, 45%; Haliburton, 18%; Homestake, 20%; Honeywell, 67%; IBM, 134%; INCO, 11%; ITT Corp, 53%; Johnson and Johnson, 693%; K Mart, 54%; Kaiser Alu, 15%; Lockheed, 48; MMM, 111%; Manville, 2%; Medon Doug, 83; Mcdonald’s, 66%; Merryl Lynch, 34%; Mobil, 30%; Monsanto, 67%; NCR, 51%; Navistar, 7%; Newm Min, 43%; Occidental, 25%; Pfizer, 67; Phel Dodge, 18%; Philips Pet, 8%; Polaroid, 64; Raytheon, 62%; Reyn Metal, 42%; Royl D Pet, 77%; Sohio, 43; Schlumberger, 29%; Seagrams, 57%; Sears Roe, 43%; Shell Tr, 47; Sperry, 75%; Texaco, 30%; Texas Inst, 108%; UNCAL Cp, 17%; Union Carb, 22%; Walt Dis, 49%; Westg Elect, 53%; Wwth, 43%; Xerox, 53%.