2014 FINdex Sees Lackluster Opening
FEATURE
The FIN Fastener Stock Index achieved a modest gain in the opening quarter of 2014, besting an index of related industrial stocks.
About one in five of 21 public companies tracked by the FINdex lost share value during the quarter, which saw tough market conditions in January and February as weaker-than-expected U.S. data, concerns over growth in China and the outlook for some emerging economies troubled investors.
The Institute for Supply Management-Chicago business barometer was at 55.9 in March, its lowest level since August, and down from 59.8 in February, Reuters reports.
Most aerospace fastener companies saw share declines in Q1, hampered by investor perceptions of excess inventory in the supply chain.
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The last five years of FINdex company results are available in the FIN Stock Review section of GlobalFastenerNews.com.
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