Opening Glance: Utilities open lower

By Associated Press
July 11, 2008
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Shares of utility companies opened lower Friday as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory.

The Standard & Poor's 500 index fell 12.64, or 1.01 percent, to 1,240.75 in morning trading.

Here is how some utilities are trading:

American Electric Power Co. Inc. fell 69 cents to $40.12.

Pepco Holdings Inc. fell 45 cents to $25.05.

Consolidated Edison Inc. fell 36 cents to $38.81.

Southern Co. fell 56 cents to $35.94.
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