- The Washington Times - Wednesday, April 16, 2003

NEW YORK, April 16 (UPI) — Prices on the New York Stock Exchange and Nasdaq Stock Market closed mixed Wednesday.

The main indexes diverged on earnings news with the Nasdaq buoyed by upbeat reports from Microsoft and Intel, while the Dow was pressured by mediocre reports from the Coca-Cola Co. and 3M.

The blue-chip Dow Jones industrial average fell 144.75 points, or 1.72 percent, to 8,257.61, while the tech-heavy Nasdaq composite index gained a nominal 3.71 points, or 0.27 percent, to close at 1,394.72.

The broader New York Stock Exchange composite index fell 62.65 points to close at 4,932.60, the Standard & Poor's 500 index fell 10.90 points to 879.91, the American Stock Exchange composite index dropped 4.53 points to 835.31 and the Wilshire 5000 dropped 91.94 points to 8,404.36.

Volume was 1.84 billion shares on the Big Board and 1.48 billion the Nasdaq.

Coca-Cola reported first-quarter earnings per share of 34 cents, on revenue of $4.5 billion for the quarter, a statement from the company said Wednesday.

In other corporate news, bankrupt United Airlines cut 105 domestic flights and 25 international flights from its May schedule, blaming the war in Iraq and severe acute respiratory syndrome for the lack of travel bookings.

In Europe, prices closed mixed on the three major bourses. The London International Stock Exchange's blue-chip FTSE-100 index fell 61.90 points to close at 3,854.90, the German DAX index gained 6.69 points to close at 2,840.81, and the French CAC-40 index fell 26.36 points to close at 2,921.52.

Asian stock markets were broadly higher, with investors taking heart from better-than-expected first-quarter earnings reports from U.S. technology companies.

In Tokyo, the Nikkei average finished 0.52 percent higher at 7,879.49.

The Korea Composite Stock Price Index continued its rally, adding another 2.7 percent to close at 621.34.

In Taiwan, the Taiex rose 2.71 percent at 4,609.32, supported by the tech sector.

Hong Kong's Hang Seng Index rose 0.5 percent to 8,675.14, extending Tuesday's gains.

Singapore's Straits Times Index rose 0.04 percent to 1,292.35, supported by the tech sector.

The benchmark Kuala Lumpur Composite Index gained 0.41 percent to 633.77.

In Bangkok, the benchmark Stock Exchange of Thailand composite index rose 2.22 percent to 383.36, its highest level since July.


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