|
This may be an indicatio of the market reaction here today. By the way, Janice did you stay up all night?<G>
"US stocks down in London, but off day's lows
Reuters Story - August 18, 1997 06:32
IBM DEC INTC MO KO DD PFE V%REUTER P%RTR
LONDON, Aug 18 (Reuter) - U.S. stocks were weaker in London
on Monday after Friday's aggressive wave of selling knocked more
than three percent off the value of the Dow.
Most of Europe was closed on Friday for holidays. European
investors returned from a three-day weekend to find the Dow had
skidded to 7,694.66 on Friday, losing 247.37 points, the second
biggest point loss ever.
"We're pretty much lower across the board, but the initial
panic selling was absorbed," one London dealer said.
"Most (stocks) have come off their lows, but it's anyone's
guess as to what (Wall Street) will eventually do," he added.
September S&P 500 futures had recovered steep losses
sustained early on, and was up 1.65 points to 900.45 on Globex
by 1023 GMT. September long bond futures were up 10/32 to
113-30/32.
The dollar firmed, holding just below 1.81 German marks.
Yet another London broker said the lack of bargain hunting
in individual stocks worried her.
"Everything is lower. I think it's going to get ugly today,"
she said.
Technology shares were down in London, with International
Business Machines Corp stock quoted down $1 to $99, and
Digital Equipment Corp off $1/2 to $44-3/4.
Shares in Intel Corp were down $3/8 at $90-1/2.
Among other blue chips, shares in Philip Morris Cos Inc
were down $1/2 to $44-5/8.
Shares in Coca-Cola Co , DuPont Co and Pfizer
Inc all lost $1/2 to $58-1/8, $61-3/8 and $52-1/4,
respectively.
"All I could say with any amount of certainty is that it
will be another volatile day on Wall Street," another added.
--London Newsroom +44 171 542 5106"
|
