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Closing Glance: Machinery close lower as oil prices climb



05 May 2008 @ 05:01 pm EST

NEW YORK (AP) - Shares of machinery companies closed down slightly Monday after oil prices rose to a new record above $120 a barrel.

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Quotes
MTW 27.58 -1.25
TEX 45.92 -1.3
CMI 61.72 -0.05
CAT 70.31 -0.11
DE 68.45 -1.8

SYMBOL LOOKUP

Crude oil futures for June delivery surged to a new trading high of $120.21 a barrel on the New York Mercantile Exchange before pulling back. The jump followed news of an attack on a Nigerian oil facility.

Here's how some machinery stocks closed Monday:

Manitowoc Co., down 20 cents to $39.37.

Terex Corp., down 8 cents to $72.20.

Cummins Inc., up 69 cents to $67.82.

Caterpillar Inc., down 5 cents to $82.75.

Deere & Co., down 87 cents to $84.37.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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