Buffalo stocks rose for a fourth straight week, led by a 54 percent gain in Fleming Cos. after the grocery wholesaler received a $4.5 billion contract to become Kmart Corp.'s sole food supplier.
The Buffalo Bloomberg Stock Index rose 0.5, or 0.25 percent, to 202.12. The index was developed with a base value of 100 as of Dec. 30, 1994. It's risen 4.2 percent in 2001, compared with a 0.42 percent decrease for the Standard & Poor's 500 Index.
Decliners outnumbered gainers 26 to 21 this week, with three 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.
Fleming, the second-largest U.S. grocery wholesaler, rose $8.74 to $24.95 for the week. The Lewisville, Texas-based company raised its earnings estimates this week for 2001, 2002 and 2003. Fleming supplies Jubilee food stores.
Buffalo-based National Fuel Gas Co., which owns natural-gas utilities in New York and Pennsylvania, climbed $3.08 to $54.98.
M&T Bank Corp. rose $2.33 to $69.35.
Among this week's decliners was General Motors Corp., the world's largest automaker, which fell $1.55 to $54.45.
American depositary receipts of Royal Ahold NV, owner of Tops and Stop & Shop supermarkets, slid 57 cents to $30.53.