The major Asian markets closed negative, after a positive opening. But Europe is either moderately higher or lower - sideways. Mid-morning, the UK and Europe has had very good interest rate news giving stock markets a bias to the upside, held back only by watchfulness about Wall Street.
Just received the ARGUS UPDATE from Schwab, which I have not been reading for a year, and notice that it recommends COMPAQ at $48 with a buy limit of $52 for a target price of $55.
Given the relatively mild reaction to yesterday's NASDAQ debacle, it may be that there will be a bounce during the day.
I notice that ARGUS is also highlighting Starbucks (SBUX)? The American style coffee shop has come into the UK in a big way. A married couple from Seattle posted to London started Seattle Coffee a few years ago and recently sold out about 17 franchises to Starbucks who are using it as an entry into Europe. Starbucks have opened a shop under their own name in UK's largest shopping centre in Manchester. I heard that all the 250 coffee shops in the UK (all brands) are located in the wealthy SE but market research shows that the market will expand to 1,500 in the near future. I think it will be a successful American import. I don't know how it will impact on the continent because, unlike the British, they already have an advanced coffee culture. But Starbucks will always do well in heavy tourist areas. In Italy, to cut through the complicated selections offered, I hear people say "regular 'merican". |
