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Friday, August 15, 2025

US stocks end week lower

by

20110318

NEW YORK-Stocks end­ed a rough week with slight gains yes­ter­day af­ter Libyan gov­ern­ment forces de­clared a cease-fire and a group of the world's sev­en largest coun­tries an­nounced a plan to bring the yen down from his­toric highs.Fi­nan­cial stocks rose af­ter JP­Mor­gan and oth­er large banks in­creased their div­i­dends. JP Mor­gan said it was in­creas­ing its div­i­dend to US25 cents a share from five cents.Japan's cur­ren­cy has soared since an earth­quake struck the coun­try a week ago and caused dev­as­tat­ing tsuna­mi waves and dam­age to sev­er­al nu­clear plants. A stronger yen makes it more dif­fi­cult for Japan's ex­port-dri­ven econ­o­my to re­cov­er by mak­ing Japan­ese goods more ex­pen­sive over­seas.

News ear­ly yes­ter­day that Libya's for­eign min­is­ter had de­clared a cease-fire helped push stocks high­er, but op­po­si­tion forces said shelling was still oc­cur­ring af­ter the an­nounce­ment and they ac­cused the Libyan gov­ern­ment of ly­ing.The Dow Jones in­dus­tri­al av­er­age gained 83.93 points, or 0.7 per cent, to 11,858.52. The Stan­dard & Poor's 500 in­dex rose 5.49, or 0.4 per cent, to 1,279.21. The Nas­daq com­pos­ite in­dex gained 7.62, or 0.3 per cent, to 2,643.67. (AP)


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