Local shares slip in September

Falling stock indexes extended their losses to Pittsburgh companies last month.

The Trib 30 index of local stocks closed Wednesday at 383.5, down 6.7 percent from the end of August, and hitting its lowest point in more than two years. The previous low point for the index was 382.3 in June 2013.

Decliners outpaced gainers by a more than 2-to-1 margin, with 23 companies losing value over the month and 7 companies increasing price increases.

U.S. Steel led decliners, falling 36 percent on concerns that weak demand will impact the Downtown-based steel producer's earnings. Rail products maker L.B. Foster dropped 32 percent and specialty steel maker Allegheny Technologies declined 27 percent.

Twelve companies set 52-week lows, and one hit a 52-week high — underscoring the broad declines in value. First Niagara Financial surged 10 percent last month on a report that the Buffalo-based bank may be purchased.

The Trib 30 is an equal-weighted index of stocks of companies headquartered or with a major presence in Western Pennsylvania.

Alex Nixon is a Trib Total Media staff writer. Reach him at 412-320-7928 or anixon@tribweb.com.