Share this article

print logo


Buffalo stocks rose for a third week, led by General Motors Corp., whose earnings estimates were boosted by Goldman, Sachs & Co.

The Buffalo Bloomberg Stock Index rose 1.52, or 0.8 percent, to 201.62. The index was developed with a base value of 100 as of Dec. 30, 1994. It's risen 3.9 percent in 2001, compared with a 2.2 percent increase for the Standard & Poor's 500 Index.

Gainers outnumbered decliners 32 to 16 this week, with two stocks unchanged. The employee-weighted list of 52 companies with operations in the Buffalo region set a 52-week high of 210.50 on March 27, and a 52-week low of 160.20 on July 14.

GM rose $2.25 to $56. Goldman Sachs analyst Gary Lapidus raised his 2001 earnings estimate for GM to $3.75 a share from $2.50.

American depositary receipts of Royal Ahold NV, owner of Tops Markets, rose $1.04 to $31.10. Amsterdam-based Royal Ahold said the Federal Trade Commission approved its purchase of 56 Grand Union stores and eight sites for future stores.

Praxair Inc., the largest U.S. industrial-gases producer, rose $4.64 to $45.08. The Danbury, Connecticut-based company's shares have risen 16 percent over the past year.

Among this week's decliners was London-based HSBC Holdings Plc, the parent of Buffalo-based HSBC Bank USA, whose American depositary receipts fell $2.50 to $77.21.

National Fuel Gas Co., which owns natural-gas utilities in New York and Pennsylvania, fell $2.79 to $51.90.

There are no comments - be the first to comment