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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Jim Bishop who started this subject10/2/2000 3:44:39 AM
From: SSP  Read Replies (1) of 150070
 
(REUTERS) Eurostocks open mixed, investors ponder US fallout
 
LONDON, Oct 2 (Reuters) - Technology issues were thrust into
the spotlight again on Monday as European bourses opened weak in
the wake of hefty pre-weekend losses on Wall Street triggered by
a surprise profit warning from Apple Computer <AAPL.O>.
The DJ Stoxx technology sector led decliners with a 0.5
percent loss in early dealings, investor sentiment badly dented
by Apple's statement which came in the wake of other warnings
from names like chipmaker Intel <INTC.O> in recent weeks.
Dutch firm ASM Lithography <ASML.AS> was an early focus in
Europe after announcing it would buy rival chip equipment maker
Silicon Valley Group <SVGI.O> for 1.8 billion euros.
Shares in the firm dropped 5.6 percent as dealers said the
purchase looked expensive.
Markets in London, Paris and Germany nosed into positive
ground after a see-saw open while Spain and Italy's bourses
remained mired in the red.
At 0730 GMT the FTSE Eurotop 300 <.FTEU3> was up 0.03
percent while the blue-chip DJ Stoxx 50 <.STOXX50E> shed 0.03
percent.
Strategists said the tone would remain jittery, with
investors braced for central bank meetings in both the U.S. and
Europe, while the euro's vulnerability remained a hot topic.
"We're in for a pretty nervous week, and I suspect European
markets will stay in negative territory while taking their lead
from the U.S.," said Steve Barrow, European equity strategist at
Bear Sterns in London.
"The central bank meetings will feed that edginess -- we
think the Fed is likely to leave rates unchanged, but the
European Central Bank (ECB) will raise rates as an adjunct to
the euro intervention," he added.
MORE
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