Although most of the market averages made...

Although most of the market averages made new highs during the past week, few San Diego stocks were able to participate in the rally, according to Irving Katz, director of research for San Diego Securities.

Among those seeing new highs was Christiana Co., which rose 3/4 point to close at 7 this week, following a 7/8 point rise last week. That gain was a reaction to a Milwaukee investment group’s purchase of a 24% stake at 6 3/8, Katz said.

Henley Group made a new high of 25, closing the week with a gain of 1 3/4 to 24 3/4. The La Jolla-based company announced the repurchase of 15.6% of its stock from Allied-Signal for $465 million. Henley, which earlier said it would spin off its Fisher Scientific business, last week announced that it also will spin off its Wheelabrator Technologies operation.

Xytronyx also reported a new high, up 1 to 11 7/8, in continued response to a favorable recommendation by a local brokerage.

Among the stocks moving up strongly was Cubic Corp., which returned to profitability and earned 33 cents in the most recent quarter, which ended Dec. 31. Cubic appears to have rectified problems in its defense systems business, Katz said.

The Savings and loans as a group again lagged in the market, he said.

Great American First Savings Bank, which announced its plan to expand into Washington state, was down 1/8 point, and Home Federal Savings & Loan finished down one point. Imperial Corp. of America was down point.

Price Co. gained 1 1/2 points to 38 1/2 as it appeared to regain some institutional support, Katz said.

Northview Corp was up 3/4 point to 12 3/4, but it continued to sell below book value, said Katz, who added that “company followers believe it will eventually be liquidated or sold.”

Continuing losses were reported by Syntro Corp., but the stock only retreated 1/8 point. San Diego Gas & Electric finished up 7/8 to 37 3/8 as the market waits for the utility to increase its dividend in May.

Southwest Bancorp was unchanged despite reporting earnings of 30 cents for the year, including a 3.5 million charge-off in the fourth quarter.