Stocks of Buffalo companies fell this week, led by General Motors Corp. and grocery chain owner Royal Ahold NV.
The Buffalo Bloomberg Stock Index dropped 4.24, or 2.4 percent, to 173.97. Thirty-one stocks in the index fell and 18 rose. The index has dropped 10 percent in the past year.
General Motors Corp. fell $2.82, or 6.4 percent, to $41.36. The automaker said it had a third-quarter loss of $368 million and cut its fourth-quarter production and earnings forecasts because of weaker demand for new vehicles.
Royal Ahold NV, the Dutch owner of the Tops supermarket chain, dropped $1.77 to $27.25.
London-based bank HSBC Holdings Plc slipped $1.30 to $53.51.
Among shares that rose this week was Fluor Corp., the largest publicly traded engineering and construction company, which rose $1.45 to $26.75.
Astronics Corp., a maker of electronics and aerospace products, gained 82 cents to $12.68.
The Buffalo Bloomberg Stock Index, an employee-weighted list of companies with operations in the region, was developed with a base value of 100 as of Dec. 30, 1994. The index set a 52-week high of 208.54 on May 22 and a 52-week low of 159.28 on Sept. 24.