The GovCon IndexÂ held against larger trends in U.S. financial markets Friday with a gain of 0.386 points to 75.692 as declines by energy and technology shares weighed on the bellwether S&P 500 composite index.
Nine of theÂ GCI’s 11 S&P 500-listed companies posted gains with McKesson (NYSE: MCK) as that group’s largest positive point- and percentage-mover by $4.18Â and 2.48 percent, whileÂ Textron (NYSE: TXT) and Harris Corp. (NYSE: HRS)Â were that group’s twoÂ decliners.
Friday’s close represents the GovCon Index’s second positive week in the lastÂ three, as well asÂ third in the most recent four.
Energy shares fell at least 1 percent as traders anticipated a Sunday meeting in Qatar, where the world’s largest oil producers will discuss a potential output freeze to limit a global supply glut, according to CNBC.
The major U.S. and globalÂ oilÂ price benchmarksÂ have plummeted nearly one-third each over 12 months on trader speculation of an over-supplied market.
Top GovCon Index Gainers
|Symbol||Company||$ Current Price||Net Change||% Change|
|MCK||McKesson Corp. *||172.77||+4.18||+2.48%|
* Also listed in the S&P 500 composite index
|Advancing GovCon Index Issues||23|
|Declining GovCon Index Issues||7|
|Unchanged GovCon Index Issues||0|
|Index||Value||Net Change||% Change|
|S&P 500||2, 080.72||-2.06||-0.10%|
|Dow Jones Industrial Average||17, 897.39||-29.04||-0.16%|