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Gold/Mining/Energy : CIBC tse/cm

CM 89.36

+2.8%

10:33 AM EST

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To: TomX who wrote (89)	8/15/1998 11:07:00 PM
From: Mike K	Read Replies (1) of 147

IMO all of the banks will report lower earnings this quarter. CIBC is taking the biggest hit with the Oppenheimer acquisition. The bank owned brokers that I have talked to indicate that business is slower and IPO activity is way down. M & A activity is picking up with the low $ and will be brisk in the 4th quarter. All of the banks look good at these levels. My pick is BNS. It's the bridesmaid. Mike

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