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

To: StanX Long who wrote (58610)	1/9/2002 10:55:32 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

1/09/02 - Paris shares close slightly higher, boosted by defensives, select tech names host.wallstreetcity.com PARIS, Jan 09, 2002 (AFX-UK via COMTEX) -- Share prices closed slightly higher in choppy trading, with buying of defensive stocks and a handful of tech heavyweights offsetting consolidation among a broad range of other blue chips, dealers said. The CAC-40 index finished up 18.92 points at 4,587.01, on volume of 4.04 bln euro. Among CAC-40 stocks, 23 closed higher and 17 closed lower. On the Matif, January CAC-40 futures were trading 25 points firmer at 4,596, while March 10-year French government bond futures were down 0.28 at 89.25. Worries that global equity markets may have overstretched themselves amid expectations of a recovery for the US and European economies later this year continue to hold back many investors, particularly ahead of the releases of corporate earnings and outlooks over the coming weeks, dealers said. This cautious mood led investors to search out defensive favorites like L'Oreal, up 1.70 eur at 78.45, while Aventis gained 0.70 to 75.95 and Suez moved 0.35 firmer to 31.95. A string of encouraging developments from several high-tech companies in recent days, including this morning's news from SAP that 2001 sales would beat forecasts and a reiteration of earlier 2001 projections from Cisco this afternoon, also spurred sharp gains for several French TMT issues, dealers said. Shares in software groups Dassault Systemes jumped 3.40 or 6.4 pct to 56.50 and Cap Gemini surged 6.4 or 7.8 pct to 89, as rival SAP's forecast were coupled with an upgrade to 'buy' from 'hold' for Cap Gemini by analysts at UBS Warburg, who raised their price target on the stock to 100 eur from 70 eur.