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Publication: European Stars and Stripes Sunday, January 27, 1991

You are currently viewing page 16 of: European Stars and Stripes Sunday, January 27, 1991

    European Stars and Stripes (Newspaper) - January 27, 1991, Darmstadt, Hesse                                Page 16 a a the stars and stripes sunday january 27,1991 Stock Market stumbles twice new York up a stocks closed higher Friday in heavy trading after fighting off separate declines tied to two iraqi missile attacks one on Israel and one on saudi Arabia. The Dow Jones Industrial average which jumped 24.01 thursday Rose another 16.34 to close at 2659.41. Among broader Market gauges the new York Stock Exchange composite Index Rose 0.74 to 183.38 and the Standard amp poor a 500-Stoek Index added 1.29 to 336.07. The Price of an average share gained 13 cents. Advances led declines 963-551 among the 1,977 issues crossing the nose tape. Big Board volume totalled 194,350,000 shares compared with the 223,150,000 traded thursday. On the trading floor Citicorp was the most Active Issue up a to 133/� american express followed up % to 203/8. The company blamed restructuring costs at its Shearson Lehman Brothers brokerage for a fourth Quarter earnings plunge reported late thursday. Chase Manhattan was third up i to 12%. Among the Blue chips general electric Rose 1 is to 597/8, at amp to added 3/s to 31v4, ism gained 15 to 122% and Philip Morris added % to 54%. Volume of nose listed issues including trades in stocks on regional exchanges and in the Over Theroun Ter Market totalled 231,052,220 shares compared with 262,479,090 shares traded tuesday. Prices gained in Active trading on the american Stock Exchange. The amex Market value Index Rose 1.85 to 308.55. Advances led declines 330-194 among the 765 issues traded. The Price of an average share gained 6  Nufa 11 profits Washington a two democratic senators proposed Friday a Windfall profits tax on Oil companies. The tax could have a a major budgetary Impact a said co sponsor sen. Howard Metzenbaum a Ohio and could be used to offset the Cost of operation desert storm in the persian Gulf. The Oil Industry and its supporters dismissed the idea As an unworkable leftover from the Energy crises of the 1970s. Metzenbaum and his co sponsor sen. Joe Lieber Man d-conn., did not give an estimate of How much Money their Bill would raise. It was not Clear whether the tax would raise much income if Oil prices continued to drop. Recent prices of West Texas intermediate crude have been $24 to $25 a barrel compared with $22 a year ago and More than $40 at the Peak Price following iraqis invasion of  on Rise composite volume totalled 16,209,130 shares is. 16,652,600 traded thursday. Presidio Oil led the amex issues unchanged at 4-3/u the National association of securities dealers composite Index Rose 2.95 to 394.28. Oil tax proposed the legislation would tax profits that exceed the 1985-1989 average profit. A similar Bill proposed last fall by Lieberman would have funnelled the Money Back to Consumers it got 33 votes in the Senate Shell Oil co. Said Friday that its fourth Quarter earnings soared by 69 percent to $446 million compared with $264 million in the same Quarter last year. Mobil Amoco Texaco Chevron and Exxon have also reported Sharp profit increases though some refining companies without much crude production of their own have shown lower profits. Sen. John Breaux d-la., whose state produces much Oil said the measure would cripple Small producers. A a last time the Windfall profits tax was in Force it resulted in increased Oil imports discouraged Domestic production and made us even More vulnerable to the whims of open and the Middle East a Breaux said. Mutual funds from Page 15 Natad 13.50 14.59-r .02 Natt 7.72 8 35 .03 to for 9.549.54 .01 Neuberger berm genes 5 10 no .05 guard 37.59 no .18 Htmat 10 02 no. Manhel 9.53 no j 2 a map in 9.83 no. 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