News Column

BRIEF: Trib 30 stock index gains 4.85% in August

August 30, 2014

By John D. Oravecz, The Pittsburgh Tribune-Review



Aug. 30--Pittsburgh-area stocks rose, finishing with the biggest monthly gain since February.

The Trib 30 stock index ended trading on Friday at 449.50, up 4.85 percent from July, when a market swoon late in the month erased gains for many area stocks.

The August gain of 20.8 points produced three 52-week highs among the 30 local issues and zero lows.

Notable among the annual highs was U.S. Steel Corp., which continued gains from late July when its second-quarter results beat analysts' estimates, rising to $39.57. Also setting new highs: Matthews International Inc., a producer of memorials and funeral equipment, reached $46.92, and NiSource Inc., the parent of Columbia Gas of Pennsylvania, reached $39.81.

National markets and local stocks benefited from improving economic data and speculation the Federal Reserve will continue to spur growth.

The Trib 30 is an equal-weighted index of stocks of companies headquartered or dominant in Western Pennsylvania. An investor who divided $100,000 equally among the 30 stocks on Dec. 31, 1999, had a portfolio worth $449,500 at the end of the month.

John D. Oravecz is a Trib Total Media staff writer. Reach him at 412-320-7882 or joravecz@tribweb.com.

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(c)2014 The Pittsburgh Tribune-Review (Greensburg, Pa.)

Visit The Pittsburgh Tribune-Review (Greensburg, Pa.) at www.triblive.com

Distributed by MCT Information Services


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Source: Pittsburgh Tribune-Review (PA)


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