El Paso Tops Weekly Winners as Energy Merchants Bounce Back.

Oil Daily, The, November, 2002

El Paso Tops Weekly Winners as Energy Merchants Bounce Back

A week after it reported a third-quarter loss and announced its departure from the energy trading and marketing business, shares of El Paso battled back, climbing more than 19% to top last week's list of share price gainers, according to data compiled by John S. Herold.

For the week, the overall equity markets posted gains. The S&P 500 index of blue chips and the Nasdaq Composite led the way, rising 3.9% and 3.8%, respectively. The Dow Jones Industrial Average was up also, but only slightly, edging 0.5% higher.

Crude prices rode a roller coaster last week, reacting to news in Baghdad on the return of weapons inspectors to the country. For the week, front-month crude closed at $25.51 per...