Buffalo stock index declines for week, led by Danaher
NEW YORK (Bloomberg)—Buffalo stocks dropped for the second time in three weeks, led by Danaher Corp. and FMC Corp.
The Bloomberg Buffalo Index fell 1.4 percent to 154.65 as 36 stocks fell and 13 rose. The index, which dropped 40 percent last year, is now down 1 percent in 2009.
Danaher, the maker of Craftsman tools and dental X-ray machines, this week fell 5 percent to $59.62. The shares have climbed 24 percent since hitting a 52-week low of $48.03 on March 9.
FMC, the world’s largest producer of natural soda ash, declined 5.3 percent to $44.87. The shares have now dropped five straight weeks.
The Bullfinch Fund’s Unrestricted Series fund fell 19 cents to $10.58. Its Greater Western New York Series fund fell 17 cents to $9.70.
M&TBank Corp., whose second-largest shareholder is billionaire Warren Buffett’s Berkshire Hathaway, rose the most in the Buffalo index, gaining 6.6 percent to $52.40.
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