European Stars and Stripes (Newspaper) - December 15, 1985, Darmstadt, Hesse Pago 20 the stars and stripes sunday december 15, 1985 the week on Wall Street new York up the Slock Market smashed through records last week As anticipation of lower interest rates smaller budget deficits and cheaper fuel whetted investors appetite for stocks. A round of record breaking fireworks Friday lopped off the Market s strongest week in Mure than a year. The Dow Jones Industrial average made a double digit gain monday on news the organi action of Petroleum exporting countries had decided to abandon efforts to prop up Oil prices through production restraints. Opus ministers and some Industry analysts said this could mean a global Oil Price War. Economists said weaker Oil prices would reinforce the trend toward disinflation. On wednesday the Row closed above the 1,500 Mark for the first time in history and the popular Market barometer racked up its biggest Advance for the week Friday on mounting speculation that the Federal Reserve was ready to Cut the discount rate. The Dow finished with a total gain of 58.03 at an unprecedented 1535.21, the Smi largest weekly Rise Ever and the largest since the week ended August 3, 1984. When it climbed 87 46. Broader Market indicators also set new records. The new York Slock Exchange Index Rose 1.71 to 120.83, while Standard & poor s 500-Stock Index surged 3.21 to 209.94. The Dow transportation Index soared 29.02 to finish the week at a new High of 722.61. The Utility average Rose 3.23to 168.80. Just below its All time High of 168.91. On the trading Moor. Ria was the most Active nose listed Issue rising 12 to 63 in volume of More than 23 million shares. General electric will acquire Ria in the biggest non Oil merger in history. Be climbed 5h to 71. The Gerca merger revived interest in stocks that previously have been the subject of takeover speculation. Among them. Mid con shot up 10ft to 61% and Litton climbed 5 i to83i. Texaco was the second most Active nose listed Issue falling i 1 to 29v. After a Texas state judge upheld a jury verdict requiring it to pay si0.53 billion in damages plus interest for interfering with Pennzoil s agreement to acquire Getty Oil co. In 1984. Fear of a global Oil Price War battered Petroleum issues Early in the week but bargain Hunting boosted the stocks from their lows and most of the issues finished with mod crate losses. Exxon the third most Active Issue last week coup cd most of its lost ground giving Only w to 52v. Phillips Petroleum dropped a to 12, Atlantic Richfield fell 1v4 to 62%. Mobil cased 14 to 29i and Occidental Petroleum declined in to33union Carbide jumped 6v to 69v on volume of More than 10 million shares. After the close Friday Gap corp. Said it was witling to negotiate terms of its All Cash bid of $68 a share for Union Carbide made monday. Talk circulated that Carbide s management might attempt a lever aged buyout at $84 a share. Gay corp. Was the week s biggest gainer soaring i7h to65airline issues soared on the Prospect of cheaper fuel. Amr corp. Climbed 3v, to 44. Ual inc. Rose 3 4 to the technology sector strengthened. Market bellwether ism jumped a to Iso to a new High digital equip ment rocketed 10". To 135%. Honeywell added 6% to 77% on talk of an imminent leveraged buyout Deal. R j Reynolds jumped 3 /. To 32. A Federal judge Friday dismissed an amputee s $55 million lawsuit against . Reynolds ruling the plaintiff had failed to prove he lost his leg due to smoking. Among other actively traded Blue chips. Sears jumped 2vt to 40%, at to added c to 24%, american express climbed 4v4 to 54 / and Cela Csc advanced 6h to i461/. On the new York Stock Exchange Advance outpaced declines 1,458-620 among the 2,264 issues traded. Composite volume for the week was 990,936,830 shares Cor,.pared with 788,761,961 a week earlier. Twig Board volume totalled 827,604,580 shares com pared with 672,994,971 a week earlier and 416,028,340 a year ago. The american Stock Exchange s Market value Index Rose 1.90to 244.78. On the Macx advances outpaced declines 457-343 among the 923 issues traded. Volume was 76,061,580 shares compared with 53,899,180 last week and 31,259,090 during the same week a year ago. Wicks cos. Led the Annex actives a Ding 114 to 54. Wang laboratories followed advancing 3tt to 2214. Dome Petroleum was third off w to 2 316. $20 billion May not be enough to help debtor nations Washington a fifteen major debtor countries May need More than the $20 billion that . Treasury Secretary James a. Baker Iii has asked private Banks to lend them according to a bipartisan group. It has been widely suggested that the proposed Loans would be too Small. Investment banker Henry h. Fowler Leader of the group appeared at a news briefing Friday with Char is e. Walker who was an assistant to the Secretary of the Treasury under former president Richard Nixon. The two Are co chairmen of the Bretton Woods committee a group formed to support International economic policies. Fowler held the top Treasury Post under president Johnson. Former presidents car Ter and Ford Are honorary co chairmen of the committee. The group endorsed Baker s plan which also Calls for an additional $9 billion in lending by the world Bank and the inter american development Bank. Both of these Are owned by governments with the United states holding the largest blocks of shares. In the committee s View this approach is essential and timely it said in a pre pared statement on the Baker plan. It noted that Baker and the world Bank arc asking the borrowing countries for changes in policies. In response to these efforts on the part of the borrowing countries and the International financial institutions the commercial Banks should provide new Loans perhaps $20 billion or More Over three years to the 15 major debtor countries identified in the Baker plan the statement went on. Missing Mutual pulse transmission difficulties from new York prevented a full listing of Mutual and reception of the Stock pulse Page 19 for today s paper. Fund prices new York up following i a 1111 of bid and asked Price on Mutual fund Ai quoted by Nash. Friday dec. 11, ins bid aim Harp invert Cap Gro i907nl cd 1573nl. Clinnia 16 00 n a Gro inc 11 m of and 15.51 . Of snarl ism . 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