Sep. 20--A double-digit percentage rise in shares of Gannett Co. Inc. helped to push the Asbury Park Press/Bloomberg 75 index up 3.16 percent last week.

The index, made of 75 companies either based at the Shore or with a significant presence in New Jersey, closed at 108.42 on Friday, up 3.32. The index has risen 12.61 percent this year.

Fifty-nine companies gained, while 15 declined, and one remained unchanged.

Gannett Co. Inc. closed at $9.81, up $1.45, or 17.3 percent.

Shares in Gannett Co., the owner of the Asbury Park Press, and the New York Times Co. surged last week after a market-research report said that some media may see improvement in third-quarter advertising.

Other companies that saw a rise in share price included: Avis Budget Group Inc., $13.61, up $1.91, or 16.3 percent; Red Bank-based Hovnanian Enterprises, $4.61, up 62 cents, or 15.5 percent; The Macerich Co., $33.73, up $4.28, or 14.5 percent; Vornado Realty Trust, $67.99, up $7.97, or 13.3 percent; and Macy's Inc., $18.03, up $1.96, or 12.2 percent.

Hovnanian shares rose the U.S. Commerce Department said last week that builders broke ground in August on the most houses in nine months.

The 1.5 percent rise in housing starts was led by a jump in multifamily dwellings despite a decrease in the construction of single-family homes.

Companies that saw a decrease in share price included: Holmdel-based Vonage Holdings Corp., $1.48, down 14 cents, or 8.64 percent; Verizon Communications, $29.59, down $1.67, or 5.34 percent; Central Jersey Bancorp., $6, down 25 cents, or 4 percent; Campbell Soup Co., $32.29, down 84 cents, or 2.54 percent; and Merck & Co. Inc., $31.88, down 66 cents, 2.03 percent.

Bloomberg News Service contributed to this report.

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