Stock prices of seven publicly traded tire manufacturers rose in the first quarter ended yesterday, March 31, 2004.
Two of the three publicly traded domestic tire manufacturers experienced stock price increases compared to their worth on Dec. 31, 2003. Goodyear Tire & Rubber Co.'s stock price is up 8.6%, rising from $7.86 to $8.54.
Titan International, which posted a net loss in 2003, enjoyed a 74% jump in its stock price, from $3.06 to $5.33.
Cooper Tire & Rubber Co.'s stock price dropped 5.7% from year-end 2003 -- from $21.38 to $20.15.
Five of eight overseas stocks increased in value after taking currency exchange rates into consideration. Here are the gains and losses (companies are listed alphabetically):
* Bridgestone Corp., up 16.5% (from $13.42 to $15.64);
* Continental AG, up 4% (from $37.96 to $39.49);
* Groupe Michelin, down less than 1% (from $45.76 to $45.34);
* Hankook Tire Co. Ltd., up 19.7% (from $7.56 to $9.05);
* Kenda Rubber Industrial Corp. Ltd., up 10.4% (from $.86 to $.95).
* Nexen Tire, down less than 1% (from $10.31 to $10.23);
* Nokian Renkatt, up 6.8% (from $75.34 to $80.53);
* Pirelli & Cie SpA, down 4% (from $1.01 to $.97).
Exchange rates vs. the United States dollar from Dec. 31, 2003, and March 31, 2004, are as follows:
Yen: 107.37 to $104.36.
Euros: .7950 to .8128.
Won: 1192.46 to 1142.99
Taiwanese dollar: 33.956 to 32.949.
