Dow Jones loses gains after bailout approval

03 October 2008 19:26  [Source: ICIS news]

HOUSTON (ICIS news)--The Dow Jones Industrial Average lost some of its gains on Friday following the House's approval of a $700bn (€504bn) bailout bill.

The average was at 10,572.69 as of 13:56 hours New York time (17:56 GMT), up 89.84 points. Earlier the average was up more than 300 points.

The House was expected to pass the bill, so its approval came as no surprise to the market.

Among chemical stocks, shares of soda ash producer FMC rose 13.88% to reach $45.94. Shares of pigment producer Kronos fell 7.39% to reach $13.04/share.

Among the largest companies, DuPont shares traded at $39.80, up 2.60%. Dow Chemical shares were at $30.50, up 0.43%.

Shares of Rohm and Haas reached $69.48, up 1.25%.

($1 = €0.72)

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By: Al Greenwood
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