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Stocks begin week lower

April 30, 2012 at 4:20 PM   |   Comments

NEW YORK, April 30 (UPI) -- U.S. stocks slipped a bit Monday after Spain said its economy fell 0.3 percent January through March -- the second consecutive quarter of contraction.

The report in Madrid sent stocks lower in Europe because it meant Spain, along with Britain, was back in recession.

By close of trading, the Dow Jones industrial average was down 14.68 points, 0.119 percent, to 13,213.63. The Nasdaq composite index shed 22.84 points, or 0.74 percent, to 3,046.36.

The Standard and Poor's 500 index gave up 5.45 points, or 0.39 percent, to 1,397.91.

On the New York Stock Exchange, 1,190 stocks advanced and 1,856 declined on a volume of 3.1 billion shares traded.

The 10-year treasury note gained 5/32 to yield 1.925 percent.

The euro fell to $1.3236 from Friday's $1.3253 while the dollar fell to 79.84 yen from Friday's 80.27 yen.

In Tokyo, the stock market was closed Monday.

In London, the FTSE 100 index dropped 0.68 percent, 39.33, to 5,737.78.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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