May 1--The Trib 30 index of local stocks soared to 210.1 at the end of April, carried by broad gains in virtually every sector, especially heavy manufacturing.

The index jumped 27.2 points, or 14.9 percent, from its close at the end of March, making April's performance the best month-to-month gain since the inception of the Trib 30 in December 1993.

It was also the first time in seven months that the Trib 30 monthly stock report closed above 200. The index closed at 213.5 at the end of September, before the recession sent stocks into a tailspin.

The Trib 30 is an equal-weighted index of stocks of companies located or dominant in Western Pennsylvania. An investor who divided $100,000 equally among the 30 stocks on Dec. 31, 1999, had a portfolio worth $210,100 at the end of trading yesterday.

The local index far surpassed the monthly gains of the Dow Jones industrial average. The Dow increased 7.3 percent in April to close at 8,168. But the Trib 30 soared 14.9 percent to 210.1.

One issue -- drug maker Mylan -- reached a 52-week high during April. The stock hit $14.94 last month on quarterly earnings that beat Wall Street estimates.

It was the first time a Trib 30 stock hit a high since Michael Baker did it in January. The engineering/construction firm also was one of the better performers in April, gaining 29 percent in value over March's close.

Several heavy-industry issues posted substantial month-over-month gains.

Specialty metals maker Allegheny Technologies soared 49 percent. Tooling manufacturer Kennametal jumped 26 percent. U.S. Steel jumped nearly 26 percent. Coating, glass and chemicals manufacturer PPG Industries increased more than 19 percent. Aluminum giant Alcoa increased nearly 24 percent.

A pair of rail-related issues rose on hopps federal spending plans stimulate the rail and mass-transit industry. Wabtec gained nearly 45 percent during April, and L.B. Foster increased almost 32 percent.

Other big gainers included the nearly 26 percent increase by FedEx, whose ground transportation unit is based in Moon. PNC Financial Services increased more than 35 percent. Many experts believe it will fare well from the government's recent stress tests to gauge big banks' ability to sustain losses from the recession.

Matthews International was the only stock to sink to a 52-week low last month. The marker maker fell to $27.11, apparently on disappointing earnings.

Thomas Olson can be reached via e-mail or at 412-320-7854.

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