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To: SusieQ1065 who wrote (6242)	7/17/2001 7:16:55 AM
From: SusieQ1065	Read Replies (2) \| Respond to of 208838

06:23 ET European Markets : FTSE -1.15%, DAX -0.79% -- European stocks under pressure on the back of dismal news out of the region’s largest consumer electronics firm, Philipps. Aside from the 770 mln euro net loss in the second quarter, the company said it did not expect recovery in its semiconductor business before 2002, adding that the deterioration in the likes of chips, PCs, telecom and even the consumer sector has spread to all areas of the globe. Blue-chip names such as Nokia, STMicroelectronics, ASML, Alcatel and Vodafone all under pressure. Internet security firm Baltimore Technologies has suffered following its rejection of a bid from Chantilley, a small unlisted UK firm. Royal Bank of Scotland has been hit by its decision to purchase Mellon Financial’s retail arm.