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NYSE Indexes End Week Higher On Light Trade.(B)
Byline: NANCY GONDO
NYSE stocks opened slightly lower Friday, but rallied on an upbeat regional manufacturing report on low volume going into Labor Day weekend. The Dow gained another 0.4%; the S&P 500 rose 0.5% to extend its uptrend to five straight days. The small-cap S&P 600 tacked on 0.3%.
Chinese energy firms made strong moves. PetroChina leapt 1.75 to a new high of 35.75 on more than double its normal trade. The oil and gas producer said it started building a $400 million natural gas pipeline in China, which should be fully operational by late 2004 to 2005. Shares have risen since PetroChina beat first-half profit views on Wednesday. IBD gives the stock a 98 Earnings Per Share Rating and an 83 for Relative Price Strength.
China Petroleum & Chemical rose 1.12 to 30.32 on high volume, extending its gains to three straight days. On Wednesday, China National Offshore announced plans to form a crude oil trading joint ...
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