Financial Times FT.com

Lehman losses end hopes of Wall St bounce

By Jeremy Lemer in New York

Published: June 9 2008 13:59 | Last updated: June 9 2008 21:49

In a bumpy session of trading on Monday, Wall Street rebounded limply from Friday’s dramatic sell-off as analyst upgrades buoyed the energy sector offsetting another poor session for financials.

Energy stocks were the leading gainers after Goldman Sachs recommended investors buy into the sector, highlighting ConocoPhillips and Hess, among others. Goldman analysts said share prices were relatively inexpensive while high oil prices might boost earnings.

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