BusinessCompany NewsMarkets positive following Enron verdicts

Markets positive following Enron verdicts

Wall Street ignores guilty verdict for Lay and Skilling

US stock markets were unfazed by the guilty verdicts handed down to Ken Lay
and Jeffrey Skilling yesterday.

The Dow industrials climbed up 51 points at 11,168, the Nasdaq Composite
improved by 16 points to 2,185 and the benchmark S&P 500 Index advanced 8
points to 1,267

Al Kugel, senior investment strategist at Atlantic Trust/Stein Roe was
reported by AFX as saying: It’s really regarded as ancient history. Most of us
figure it was well deserved and it just took a long time for it to come.’

Stephen Massocca, co-CEO of Pacific Growth Equities described the ruling as
‘ancient news’ saying it had no bearing on the stock market whatsoever

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