New York Stocks Mixed After Six Day Rally
UPI reports a fractional pullback on Friday June 17 1983 as the Dow dips 2.61 points after a six session rise to record highs. Analysts cite profit taking and ongoing recovery optimism following May housing starts and unemployment claims data.
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Labor Department
Dollar weakness persists amid thin trading in Europe
The dollar slid against most major currencies except the British pound in light trading. Gold prices edged up in Europe while Tokyo rates fell from the prior day. The pound hovered near 1.531 with London banks trimming lending rates. Dollar values fell versus West German marks Swiss francs French francs Dutch guilders Italian lire Canadian dollars and other peers as gold and silver moved higher in quiet sessions.
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London
Europe
Creditors seek concessions at Baldwin United talks
Victor H. Palmieri, Baldwin United president, says some creditors demand major concessions before delaying $680 million in loans. Palmieri notes bankers are inclined to forego interest until Sept. 30 to allow asset sales and keep the piano maker turned financial services firm operating.
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