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Technology Stocks : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (2691)	10/31/2000 1:14:03 PM
From: Glenn McDougall	Read Replies (1) \| Respond to of 3891

Ian, nice to see you on the "new" Newbridge/ALA thread. Alcatel contradicts rumours of handling results, the action rectifies itself PARIS, Oct. 31 (AFP) - the president of the French equipment supplier of telecommunications Alcatel Serge Tchuruk contradicted Tuesday of the rumours of market according to which the group would have carried out a handling of its results for third quarter 2000. The Alcatel action, which moved back with the Paris Bourse, was rectified following this denial. It was displayed with 71,75 euros (+1,06%) towards 17H00 (16H00 GMT) in a market overall in rise from 1,06% to 6.363,37 pts. The title had reached a plus-bas with 67,50 euros (-4,9%) during the meeting. At the time of a telephone press conference, Mr. Tchuruk explained that Alcatel has (Paris: 13000.PA - topicality ) simply stimulated its sales during the period, which is " traditionally weak ", in order to harmonize the curve of the turnovers throughout the year. He vigorously refuted the allegations of " financial handling " circulating on the market. The Alcatel title was into big rise since the beginning of the meeting of Tuesday with the Paris Bourse, after the advertisement of the results of 3rd quarter 2000, marked by a tripling of the benefit Net to 297 million euros, against 83 M EUR released over the same period of the preceding exercise. Alcatel also announced a turnover of 7,908 billion euros, whereas the market counted on a figure ranging between 6,968 and 7,358 mds EUR only. In the afternoon, the title was turned over to the fall in the wake of rumours affirming that the group would have inflated its sales of the third quarter. With 15H49 (14H49 GMT), it moved back from 1,90% to 69,65 euros whereas index CAC 40 (Paris: 350000.PA - topicality ) advanced from 0,93% to 6.355,18 points. Several brokers had however shown skeptics. " I do not believe that that is true ", explained one of them. An analyst specialized in the values of telecommunications indicated that it hardly thought probable that the group can include sales of the fourth quarter in the figures of the third quarter. A Parisian broker estimated that the rumour " misses credibility because the group has just regained the confidence of the investors after the fiasco of the warning on benefit of 1998 and it would be suicidal to mislead once again the investors in an unspecified way ". Brokers in addition affirmed that the Swiss Credit First Boston had carried out a slight fall of its forecasts after the publication of these results.