Insurance stocks rise on Wall Street amid cautious optimism
In New York, life and fire and casualty stocks led gains in the first four months of the year. The Alfred M Best life stock index jumped about 50 points as insurers touted a potential resumption of long-term growth. Despite volatility, insurance equities have historically delivered sizable nest eggs, with large investments growing over a decade. The Market Service of Santa Barbara reports 116 advances, 32 unchanged, 68 declines, with declines limited to 1 to 5 percent and most gainers surging 25 to 100 percent. Analysts expect continued movement as earnings and sales rise while macro factors remain mixed.
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American Building Maintenance shows growth in 1972 first quarter
The firm, a Big Board janitorial and building services company, posted a 17 percent revenue rise to 23.4 million and earned 1.6 million or 33 cents a share, up from 5.3 million or 95 cents. management targets 20 percent annual profit gains. Future growth to come from acquisitions of established divisions.
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Bne
Siows
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