Wall St soaring

Press, 9 March 1987, Page 14

Wall St soaring

NZPA-AP New York The New York stock market was mixed on Friday, running into some resistance after a rise to record highs on Thursday as interest rates moved up. The Dow Jones average of 30 industrials rose 3.80 points to finish at 2280.23, a new closing high for the third successive session. The average finished the week with a net gain of 54.24 points.

Interest rates headed higher in the government securities market, sending prices of long-term U.S. Treasury bonds down as much as SUSIO or more for each SUSIOOO in face value.

The upward pressure on rates was attributed to stronger-than-expected employment figures reported by the Labour Department. . Some analysts took the news as a preliminary signal that the pace of business activity improved in Febru-

ary after a sluggish January. That, in turn, raised questions about whether the Federal Reserve Board would be willing to take any further steps to ease credit conditions in the months ahead. The bull market revived on Wednesday. Analysts said the spark for the advance was provided by General Motors’ announcement on Tuesday that it plans to buy back as much as 20 per cent of its stock over the next four years. AlcanAlu 38%, Alcoa 44%, AmeradHes 29%, AmExpress 80%, AmMotors 3%, Armco 7%, Asarco 21%, Atlßichfield 70%, ATT 23%, BethStl 7, Boeing 51%, Borden 57%, CBS 162%, Chevron 51%, Chrysler 52%, Citicorp 53%, ClarkEqp 24, Coca Cola 46%, Colgate 45%, ContlData 27%, Crane 43%, Digital 169%, Dome Mines 11%, Dow Chem 78%, DuPont 105%, East Kodak 76%, Englhrd 42%, Exxon 81%, Firestone 36%,

Fluor 14%, Ford Motor 81, FrptMcmor 24, Gencorp 78%, Gen Dynamic 78%, Gen Electric 107%, GM 77%, Goodyear 54%, Greyhound 35%, Grumman 30%, Gulfßes 14%, HJHeinz 47%, Haliburton 33%, Homestake 28%, Honeywell 69%, IBM 139%, INCO 15%, ITT 64%, JhnsnJhnsn 90%,' KMart 59, KaiserAlu 17%, Kraft 59%, Lockheed 51, MMM 126%, Manville 2%, Mattel 11%, McDonDoug 77%, McDonald’s 78, MerrylLynch 42%, Mobil 43%, Monsanto 75%, Navistar 7, NCR 66%, NewmMin 83%, Occidental 31%, Pfizer 73%, PhelDodge 29%, PhilipsPe 13%, Polaroid 76%, Raytheon 77, ReynMetal 57, RoylDPet 108%, SOhio 59%, Schlumberger 39%, Seagrams 69%, Searsßoe 52%, ShellTr 72%, Texaco 34%, Texaslnst 167%, UNOCAL 32%, UnionCarb 27, Unisys 103%, USX 24%, Walt Dis 59%, WestgEle 65%, Woolworth 47%, Xerox 71.