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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56745)	12/1/2001 8:19:40 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Is there anything in the fundamentals that justifies their moves up? Or is this the first part of the Pump and Dump cycle ? Stan 12/01 03:23 Ericsson, Philips Post Biggest Monthly Advances in 21 Months By John Fraher quote.bloomberg.com London, Dec. 1 (Bloomberg) -- Ericsson AB, Royal Philips Electronics NV and ABB Ltd. posted their biggest monthly gains in November since at least February 2000 as investors bought stocks ahead of an economic recovery that may not come until the second half of 2002. ``You can wait for the recovery to happen, but then it would be too late'' to buy shares whose prices will already reflect rising profits, said Henk Boom, who helps oversee about 4 billion guilders ($1.6 billion) at Optimix Vermogensbeheer in Amsterdam. Boom's been buying ASML Holding NV and Ericsson AB stock on optimism interest rate cuts from the U.S. Federal Reserve and the European Central Bank, which meets next week, will spur profits next year. The Dow Jones Stoxx 50 rose 3 percent to 3572.32 on the month, led by technology, engineering and consumer goods groups. The index that tracks European companies worth 3.2 trillion euros ($2.9 trillion) stocks has advanced 22 percent since dropping to a three-year low on Sept. 21 in the aftermath of terrorist attacks in the U.S. ``This rally has further to go,'' said Richard Davidson, European equity strategist at Morgan Stanley Dean Witter & Co. who cites low interest rates and ``an economic recovery close enough to be'' reflected in stock prices as fuel for a gain of about 12 percent. Low interest rates make stocks a more attractive investment, encouraging investors to switch money out of cash and into shares. The yield on the German 10-year bond fell on Nov. 1 to the lowest level since June 1999.