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Technology Stocks : Alcatel Telecom (ALA)
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To: Steve Fancy who wrote (221)9/22/1998 1:36:00 PM
From: Steve Fancy   of 285
 
ADR REPORT - ADRs mixed to higher

Reuters, Tuesday, September 22, 1998 at 11:25

French telecommunications company Alcatel (NYSE:ALA) slipped
3/16 to 18-1/2 and was among volume leaders on the New York
Stock Exchange. Alcatel's price has fallen nearly 50 percent in
the last week. The company issued a profit warning last
Thursday.
Alcatel Chairman Serge Tchuruk is in New York to speak with
U.S. investors and try to win back their confidence.
The Dutch company Philips Electronics (AMS:PHG) (NYSE:PHG) was
up 2-5/8 to 48-5/8. Trade was almost twice normal daily levels
and Philips also was among volume leaders on the NYSE.
Philips issued a profit warning Monday and its ADRs fell
almost 10 percent.
Japanese electronics company Sony Corp. (TOKYO:6758) (NYSE:SNE)
fell 3-9/16 to 67-1/4, a 12-month low. Traders said Sony was
hurt in part by Philips' warning.
Oil majors were mixed as the price of crude eased slightly
after gaining a dollar a barrel last week. Benchmark Brent
North Sea crude was off $0.08 a barrel to $14.29.
British Petroleum Co. Plc (ISEL:BP) (NYSE:BP) was up 1-3/16 to
85-5/8 and France's Total SA (SBF:TOTF) (NYSE:TOT) strengthened
9/16 to 62-3/8.
Royal Dutch Petroleum Co. (AMS:RD) (NYSE:RD) fell one to
46-13/16.
ADRs allow U.S. trade of foreign shares.

Copyright 1998, Reuters News Service
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