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Gold/Mining/Energy : CGI Group (GIB.A) -

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To: Sal Pugliese who wrote (654)	8/20/1998 11:58:00 PM
From: Jean-Robert Grenier	of 1673

Thanks for your last post Sal, but in my opinion, we have to take 2 factors into consideration. 1) I don't recall what was the option price that will be or not exercise tomorrow. If the option was close to 29$, our friend Sili might be right and that could be one of the reason that pushed CGI price at the present level. 2) If you recall I have posted that Scotia McLoed released on August the 12 a new study putting CGI at 40$ in the next year. That is close to 50% earning on the actual price of CGI. So the possibility that the brokers say the study and recommended it's buy to their client could be the reason of the increase. Yesterday on 1/2 million shares exchanged Scotia McLoed bought close to 300,000 shares. The combination of those 2 factors could explain today's increase. But as you said tomorrow and next week will certainly brings us answers to our questions. Au revoir Jean-Robert

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