The firming of the dollar against the...

The firming of the dollar against the yen and strength in the bond market last week helped interest-sensitive stocks and, to a degree, the general market, according to Irving Katz, director of research for San Diego Securities Inc.

Great American First Savings Bank was up 1 7/8 to 18 3/4; Home Federal Savings & Loan was up 2 to 30 5/8; Imperial Corp. of America was up three-quarters to 14, and San Diego Gas & Electric was up seven-eighths to 33.

A new high was made by First National Bank Corp., which gained 1 1/2 points to 13 as its merger with National Bankshares of La Jolla and National Bank of Fairbanks Ranch took effect Monday.

Kaypro was up nine-sixteenths to 2 as it announced wider discounts to dealers and lower prices on selected models and enhanced products.

Beeba’s Creations, after making a new low of 10, was up 2 3/4 to close at 13 3/4 despite a lack of news since the announcement of the prospective JC Penney investment in the San Diego-based company. “The stock has moved very erratically since the announcement,” Katz said.

Institutional ownership of some San Diego stocks has caused much of the week’s erratic movement, Katz said. For example, Home Federal is 79.5% and Rohr Industries is 74.6% owned by institutions.

“A surprise was the institutional desertion of Henley Group in the first quarter of this year, as 85 institutions sold their stock, reducing total holdings by $100.7 million for the quarter,” Katz said. “This occurred while many Wall Street analysts were recommending purchase of the stock.”

San Diego biotechnology stocks were plagued by poor performance, in sympathy, perhaps, with Genentech, which was down 11 1/2, Katz said. Molecular Biosystems was down 1 3/8, Xytronyx seven-eighths and Synbiotics three-quarters.