Buffalo stocks rose for a fifth straight week, led by Moog Inc., Royal Ahold NV and May Department Stores Co.
The Buffalo Bloomberg Stock Index rose 1.84, or 0.9 percent, to 203.96. The index was developed with a base value of 100 as of Dec. 30, 1994. Its risen 5.1 percent in 2001, compared with a 1.4 percent decline for the Standard & Poor's 500 Index.
Decliners outnumbered gainers 29 to 21 this week. The employee-weighted list of 50 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.
Moog rose $2.20 to $33.20. Pierre Chao, an analyst with Credit Suisse First Boston, reiterated a "strong buy" rating for Moog.
Royal Ahold, which owns Tops Markets, rose $1.17 to $31.70.
May Department Stores, rose $2.04 to $38.25. Retail stocks have rallied on the hope that the Federal Reserve's interest rate cuts last month will spur consumer spending. May owns the Kaufmann's and Lord & Taylor chains.
Among the index's decliners this week was General Motors Corp, which fell 33 cents to $54.12.
National Fuel Gas Co. fell 96 cents to $54.02.