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Publication: European Stars and Stripes Sunday, March 17, 1991

You are currently viewing page 17 of: European Stars and Stripes Sunday, March 17, 1991

     European Stars and Stripes (Newspaper) - March 17, 1991, Darmstadt, Hesse                                Sunday March 17, 1991 my. Umno  a Rosye Market tumbles slightly As War glow fades wow York it Cpd a that Stark Marl Rel l nor a a t. A a 1 a a a a a a. Quot. A a a a. It o i aha Anu of i a rho new York up a the Stock Market managed a midweek surge after breaking a. Four session losing Streak but failed to maintain its momentum and closed the week just below where it started. It was Only the markets second decline ii nine weeks. Analysts said the Victory glow from the persian Gulf War had faded leaving some grim economic  Dow Jones Industrial average dropped 3.96 Friday to end the week at 2948.27. For the week the Dow declined 6.93, of about 0.2 percent. Broader Market indexes also declined for the week. Standard amp poor a 500-Stock Index fell 1.36 to end the week at 373.59, and the new York Stock Exchange composite Index lost 0.87 to end the week at 204.08 declines led advances 1,218-717 among the 2,177 nose issues traded last week. Weekly big Board volume totalled 978,259,430, compared with 1, 109,482,140 Rumary when the Dow gained 450 Points. A powerful buying surge wednesday broke the losing Streak and sent the Dow ahead 32.68. Traders said program trading bargain Hunting and a rally in the Bond Market propelled the  Stock prices gyrated during thursday s session and once again threatened the 3,000 Mark but late profit taking sent the Market spinning to another loss. On Friday the a triple witching hours expiration of Stock Index futures Stock options and Stock Index options created volatility. After some initial losses the Market recovered and closed with a Broad loss in heavy trading. A a a a. \. A a  a Quot a. Donald j. Wagner vice president of Dain Bosworth inc. In Omaha neb., said the markets Overall situation a looks  a the Market had a tremendous recovery but that was due to overselling a a he said. A it was t a Bear or a Bull Market just  shares the prior week and with773,233,070 a year ago. The Dow opened with two losing sessions following now investors Are returning to look at the a Normal of Down sessions from the prior week. The Market economic issues like the budget deficit unemployment a a Turl it inc Inri w/ar1nan4nti a Uit full 1. Al Fly  a la Tell ill Chi Oinna pm Al .1 two., halted its losing Streak wednesday but fell Back thursday and Friday. The Market drifted listlessly monday until a late surge of profit taking sent prices lower. Analysts had expected a decline As the end of the first Quarter approached. / a a a profit taking sent the Market to its fourth straight loss tuesday. Experts said the trouble started when the Dow failed to hold above the 2940 level. Sidney Dorr vice president of institutional trading at Charles Schwab amp co. In san Francisco said the decline was Normal after the rally of january and feb and difficulties with the savings amp Loans Quot Wagner said. In that atmosphere he said the Market might have a a a corrections of about 100 Points on the Dow. Edward Shopkorn partner in charge of institutional equities at Mabon Nugent amp co. In new York said a the Market is a Little tired. The euphoria of the Victory in the persian Gulf has worn off and now the Market will be driven by the economic numbers and the first Quarter  Philip Roth chief technical analyst at Dean Witter Reynolds in new York said a without the expiration Fina gling this was a consolidation week. We had a Sharp Selloff in some stocks a healthcare technology and foods and  the markets corrections were a exp eatable a he added. A on the trading floor last week Rwjr Nabisco when issued Stock was the most Active Issue for the third straight week dropping % to 10v<. Blockbuster entertainment was next off 15v to 12ms. Analysts said sales at video rental stores had fallen due to an interest in the persian Gulf War. Laidlaw inc. B was third off 4 to 12vs. Get corp. Finished fourth up 1 to 32vt the firm completed the $6.6 billion takeover of the Conte corp. In the largest merger Ever in the telecommunications Industry. Quot Avon products was also Active dropping 3 is to 39% Chartwell associates , sold a to million share Avon Block last week to Salomon Brothers inc., which was reselling the shares to institutional investors. Among other Blue chips Uniss was Down is to 5%. Pepsico which won the Concession for soda Fountain service at Marriott corp. Front coca cola Rose to 33vs. Mcdonald a which said it planned a hamburger that was 91 percent fat free advanced Viz to 341/2. On the american Stock Exchange the amex Market value Index dropped 3.68 to close Friday at 352.63. Declines led advances 460-370 among the 1002 issues traded. A a a a a a amex volume totalled 70,477,255, compared with 85,775,290 traded a week earlier and 70,083,965 traded in the same week a year ago. Wang labs inc led the amex actives advancing 1% to 4%. A a. A the National association of securities dealers composite Index fell 8.81 to end the week at 466.29.Mutual funds from Page 16 Mutual of Omaha Amer. 10.42 growth 9.06 income. 9.56 Tifre 11.72 Mutual Scarlet bean 23.05 of Ald 20.47 shares 62.57 acc exp .11.73 acc Ftp 10.08 nyl instil ads a a eafe. 11,29. Bond 10.17 Gie 12.12 id by 10.17 id Seq. 11.38 Multa. V 10.51 std. 10.19 Vatet. 11.38 a attend. A 14.07 National funds Bond. 1.52 Cate 12.96 feds Quot 9,02 go Bali 11.28. 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