Stock Report: June 23 - 27
A slowing US economy and high oil prices led to a 3-4% decrease in the stock indices this past week
Subprime loan bank writedowns, record oil prices and a generally slowing economy contributed to another decline of US stocks this week - nearly reaching the "bear market" threshold.
Since its high in October, the Dow Jones has fallen almost 20 per cent. This week it closed at 11,346.51, a drop of 4 per cent from last week. The S&P 500 finished down 3 per cent for the week at 1,278.38 - a five-year low - with the Nasdaq Index similarly declining nearly 4 per cent to 2,315.63.
None of the companies tracked by GamesIndustry.biz released earnings reports or made major announcements this week. Increases in the value of Nintendo and Konami stock might be attributable to strong sales of the Wii and Metal Gear Solid 4, respectively, whereas the low current value of Midway's stock means that a USD 0.20 change nevertheless represents a large percentage increase.
Selected stock movements in the past week (at time of writing):
| Midway | 2.09 - 2.29 | + 9.57% |
|---|---|---|
| Nintendo | 591 - 610 | +3.21% |
| Konami | 35.31 - 35.34 | +0.08% |
| Microsoft | 28.23 - 27.63 | -2.13% |
| Ubisoft | 55.49 - 54.00 | -2.69% |
| Sega | 9.78 - 9.50 | -2.86% |
| Take-Two | 26.63 - 25.76 | -3.27% |
| Sony | 46.19 - 43.91 | -4.94% |
| Namco Bandai | 12.61 - 11.91 | -5.55% |
| Activision | 35.85 - 33.71 | -5.97% |
| EA | 46.94 - 43.94 | -6.39% |
| SCi | 48.00 - 44.00 | -8.33% |
| THQ | 21.57 - 19.75 | -8.44% |
| Infogrames | 11.49 - 10.27 | -10.62% |
Please note that stock prices on differing markets may be influenced by separate local events, and shouldn't necessarily be compared like for like. This list is not a ranking of total market valuation; selected stocks only. Prices given in local exchange currency, except Tokyo stocks, which are converted into USD.