THE Dow Jones industrial average slipped back above 9,000, but most stocks fell yesterday despite sharp gains in a financial sector energised by more blockbuster mergers and some robust profit reports.

On Wall Street, the Dow wiped out a nearly 70-point deficit and rose 17.44 points - or 0.2 per cent - to 9,012.30. Broader stock indicators also bounced back but finished mostly lower.

Declining issues outnumbered advancers by a 4-to-3 margin on the New York Stock Exchange, with 1,291 up, 1,720 down and 509 unchanged.

NYSE volume totalled 563.91 million shares, up slightly from Thursday's modest tally of 546.42 million.