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Wednesday, December 30, 1998 Published at 16:42 GMT


Business: The Markets

Wall Street market report




[ image:  ]
Wednesday open

Leading US share prices opened modestly lower as mild profit-taking dominated thin early trade, dealers said.

By 1500 GMT, the Dow Jones was down 16.99 at 9,303.99 and the technology-heavy Nasdaq was up 14.71 at 2,196.48.

Some 29.8m shares were traded, with 1,418 higher, 1,409 lower, and 326 unchanged. Investors locked inot profit-taking after Tuesday's near-100 point rise.

Internet stocks continued to be a popular focus, but most eased today with light profit-taking on the recent dramatic rises. The most prominent of the Internet stocks, America Online, finally eased a touch after posting solid gains for some days, shedding 1-5/16 to 151-15/16. Its prospective merger partner Netscape was 15/16 easier at 65-3/8.

Amoco fell 1-1/8 to 57 after federal authorities cleared its merger with British Petroleum.

DaimlerChrysler was down 1-1/16 at 96-7/8 on a UK press report that its unit DaimlerChrysler Aerospace AG has agreed merger terms with British Aerospace.



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