Only Two Industry Stocks Eked Out Gains Monday


Two stocks in this publications Mortgage Industry Equity Composite gained roughly 1% in value Monday, but the remaining 15 ended the day in the red.

Industry technology vendor Fiserv fared best among industry stocks with a gain of more than 1%. Mortgage insurer Radian also experienced a gain in value, although it was less than 1%. The values of all the other mortgage companies included in the index declined. The largest MIEC decline was more than 3%. The Dow also declined on the day, but by less than 1%.

A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Monday would be worth between $43 and $44, according to this publications MortgageStats subsidiary. The indexs general trend has been stable to slightly higher this year.

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