Franks slump drags dollar to new highs amid French setback
Global markets reacted to France's left coalition loss in local runoff as the dollar climbed to a record 6.2475 francs and gold rose across major centers. Concurrently, Raybestos-Manhattan and Hi-Shear canceled their Feb merger, citing stock price shifts and market weakness, while BankAmerica warned on loan losses and paperback romances surged in 1981 sales.
MENTIONED IN THIS ARTICLE
France
Francois Mitterrand
Tokyo
London
Zurich
Hong Kong
New York
Commodity Exchange
Handy & Harman
Raybestos-Manhattan Inc
Hi-Shear Industries Inc
Automotive
Raybestos- Manhattan
Aerospace
Hi- Shear Industries
Analysts foresee Dow bottom in the low 700s this spring
Wall Street analysts project the Dow Jones industrial average to bottom between 725 and 750, with May or June as likely. Traders watch sector behavior for early recovery signals while technology stocks linger under pressure and options on Data General yield big gains for bold bets.
MENTIONED IN THIS ARTICLE
Wall Street
Robert J. Farrell
Merrill Lynch
Pierce, Fenner & Smith
Donald I. Trott
A.G. Becker Inc
Charles Jensen
MRI Securities Corp
Dow
Martin D. Sass
M.D. Sass Inves
Court ends SCM Xerox suit over 111 million damages
The Supreme Court refused SCM Corp.'s bid to recover 111 million in antitrust damages from Xerox Corp. The ruling let stand a decision denying monetary damages for monopolizing plain paper copier technology. The case traced to Xerox's 1956 patent rights and its 1969 refusal to license SCM.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
SCM Corp
Xerox Corp
Xerox
SCM
Connecticut
2Nd Circuit
Appeals
CMN
Chester Carlson
Regulators expected to back 91-day money market certificate
Washington regulators ready to approve a short term savings certificate with a 91 day maturity and a $5000 minimum, linked to the 13 week Treasury bill rate. The plan includes a quarter point rate differential for thrift institutions and sparks industry division as banks oppose a noncompetitive move.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Federal Bank
Depository Institutions
Treasury
Savings and Loan Associa
Tions
Mutual Savings Banks
Congress
United States League of Savings Associations
Trade Association
American Bankers Association
Reagan
Donald T. Regan
Charles A. Bruning
Bankers Association
Edgewood Bank
Countryside
Ill
RV sales rise in 1981 may signal rebound for industry
Detroit AP reports RV makers shipped 239,100 units to dealers in 1981, up 31.8 percent from 1980’s 181,400, as forecasts point to a possible boom if the economy improves. RV output peaked at 582,900 in 1972, and James Summers of the Recreational Vehicle Dealers Association warned of a rebound potential.
MENTIONED IN THIS ARTICLE
Detroit
James B. Summers
Recreator Vehicle Dealers Association
Moody's downgrades nine bank holding company long-term debt
Moody's Investors Service cuts the long-term debt ratings of nine large bank holding companies from Aaa due to inflation and regulatory changes reducing earnings power. Short-term debt remains unchanged. Downgraded firms include BankAmerica Chase Manhattan Chemical NY Manufacturers Hanover Continental Illinois First Bank System Northwest Bancorporation Mellon National National City. J P Morgan remains Aaa as the sole top-rated among the 10 largest banks.
MENTIONED IN THIS ARTICLE
New York
Moody's Investors Service
Aaa
Moody's
BankAmerica Corp
San Francisco
Chase Manhattan Corp
Chemical New York Corp
Manufacturers Hanover Corp
Continental Illinois Corp
Chicago
First Bank System Inc
Northwest Bancorporation
Minneapolis
Mellon National Corp
Pittsburgh
National City Corp
Cleveland
Citicorp
Bankers Trust New York Corp
Moody’s
Should you gamble on Value Line futures at Kansas City Bourse
A reader overview of trading stock index futures via the Value Line Index through the Kansas City Board of Trade. It outlines how futures contracts settle, potential profits and losses, and the high capital and risk required. It notes options may offer a better route and cautions on margin levels and costs.
MENTIONED IN THIS ARTICLE
Kansas City Board of Trade
Arnhold Bernhard &Co
Caution Advised On Stock Index Futures And Options
Several congressmen warn of high risks in stock index futures while exchanges plan to offer these contracts and NYSE futures and CBOT prepare options on indexes. Experts urge delaying until index options debut, noting risks of bets shifting from new stock issues to gambling on existing stocks. Dom cautions readers to avoid jumping in.
Also Mentioned on This Page
White House
Supermarket’ Banking
MasterCard
Pittston
Pittston Co
Burlington Northern Inc
Burlington Northern Air Freight Co
Newport Beach
Calif
United States
BankAmerica
Varting G. Vartan
New York Times Service
Tors Services Inc
Sass
Carol Neves
Teledyne Inc
Teledyne
Data General
Alan R. Shaw
Smith Barney, Harris Upham & Co
Perkin-Elmer
Amdahl
Digital Equipment
Datapoint Corp
Donald W. Kimsey
Dean Witter Reynolds Inc
Jan
Isai Fee
Jon Newman
2Nd
U.S. Circuit Court of Appeals
Kerox
Fed
Alco First
Alco Hunt
Auburn
Paul Lattimore
Power Inc
Powerway
Peter
Alton
Sylvia Porter
Federal Commission
Kansas City
New York Stock Exchange
Futures Exchange
Chicago Board of Trade
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