Trib 30 stock index hits record high
By Thomas Olson
Published: Monday, Dec. 31, 2012, 10:34 p.m.
The Trib 30 stock index ended December and 2012 in impressive fashion, closing at an all-time high of 335.9 on the strength of a broad array of local stocks.
The buying binge seemed to dispel notions that a likely rise in capital gains tax rates in 2013 would lead to a broader-than-usual sell-off of stocks at year-end.
December's showing bested the previous high of 327.9, which the index logged in September.
Eight Trib 30 stocks rose to 52-week highs last month, most of them manufacturing issues. No stock fell to a 52-week low.
Local gainers trounced losers by a margin of more than 3-to-1, with 23 local stocks increasing in value last month, while seven retreated.
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, would have a portfolio worth $335,900 at the end of the month.
The Trib 30 increased 3.6 percent over its close of 324.3 at the end of November. The rise in the local index far exceeded that of the Dow Jones industrial average, after which the Trib 30 was modeled in December 1993. The Dow closed Monday at 13,104, virtually unchanged from its November close of 13,096.
For all of 2012, the Trib 30 jumped 17.8 percent from its close of 285.1 at the end of 2011.
The Dow, on the other hand, increased less than 7.3 percent from 12,218 at the end of 2011.
Among local stocks, Comcast was the year's star performer. The telecommunications stock touched $38.22 in December, giving Comcast 11 consecutive months with a 52-week high.
The other non-manufacturing stock to reach a high in December was BNY Mellon, which increased to $26.25, the bank's fourth high in as many months.
Six other local stocks hit new heights in December. L.B. Foster rolled to $43.85 on Monday. Mylan hit $28.50, the drug maker's sixth high in as many months. H.J. Heinz rose to $60, its third new high in three months.
PPG Industries soared to $136.79 during December, its fourth high in as many months. Thermo Fisher Scientific reached $65.54, its fourth high in four months. Wabtec rolled to a high of $89.03.
Thomas Olson is a staff writer for Trib Total Media. He can be reached a 412-320-7854. or at firstname.lastname@example.org.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Pandora sued by record companies
- Investment in Western Pa. startups reaches 5-year high
- Pa. unemployment rate falls to lowest since 2008; 12,000 more enter workforce
- Chocolate prices expected to soar as ingredients grow more expensive
- Squeezed by competition, Chobani to expand offerings
- Mazda recalls 109,000 older SUVs
- Emboldened by Italy move, QVC to expand into France
- Shale pioneer hires Chesapeake for drilling job
- Chrysler’s Easter eggs fun for vehicle owners
- Long-term unemployed struggle to find — and keep — new jobs
- 2014 Beetle is celebration of 65th American anniversary