Stocks Positive In Face of
Stocks of publicly traded companies with ties to
the kitchen and bath industry gave investors a reason to celebrate
as the old century ended, rising even in the face of an abrupt sell
off that hammered virtually all sectors of Wall Street.
The performance of 47 key stocks of building
products manufacturers, distributors and retailers as tracked in
Kitchen & Bath Design News’ exclusive monthly Stock Index
increased 114.59 points, or 4.40%, to close the trading period from
Dec. 3, 1999-Jan. 5, 2000 at 2720.07. In sharp contrast, the Dow
Jones Industrial Average impacted by year-end profit-taking and
interest rate fears slid 163.53 points, or 1.45%, closing at
11122.65. Of the 47 stocks tracked by K&BDN, declining issues
outnumbered advancing issues by 26 to 20 margin; eight of the
stocks plunged to new
52-week lows, while five reached new highs.
Electrolux AB, General Electric and Georgia Pacific
were among the leading gainers for the period.