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

To: StanX Long who wrote (65333)	8/16/2002 4:54:44 AM
From: StanX Long	Respond to of 70976

European Stocks Advance, Led by Deutsche Telekom, Julius Baer By John Fraher quote.bloomberg.com London, Aug. 16 (Bloomberg) -- European stocks rose as Deutsche Telekom AG and Julius Baer Holding AG said they will cut costs to revive earnings. The Dow Jones Stoxx 50 Index added 1 percent to 2770.38, as of 8:58 a.m., taking its two-day gain to 4.6 percent. Italian and Spanish stocks, which didn't trade yesterday because of a holiday, rallied on optimism the U.S. Federal Reserve will cut interest rates to spur growth in the biggest economy. Julius Baer jumped 8.3 percent to 354 Swiss francs. The largest publicly traded private bank in Switzerland said it plans to reduce costs 10 percent over the next year after a reduction of 14 percent in the first half, when net income dropped by the same amount. Deutsche Telekom AG advanced 3.1 percent to 10.98 euros. Chief Executive Officer Helmut Sihler said he'll step up cost cuts at Europe's top phone company to save billions of euros to pare losses and reduce $66 billion in debt. The first-half result will be ``in line with expectations'' and the 2002 loss will be ``significant,'' Sihler said in an interview with Frankfurter Allgemeine Zeitung released late yesterday. Spokesman Hans Ehnert confirmed the comments.

To: StanX Long who wrote (65333)	8/16/2002 8:32:29 AM
From: michael97123	Read Replies (2) \| Respond to of 70976

`I'm positive about the possibility of having a seasonal turn that will lead to a cyclical upturn. December is coming and you're still going to buy presents for your kids, your wife or your friends. That will put pressure on inventories.'' Stan, Worth printing it again so we can get a smile from Gottfied. After we get thru this 9/11 anniversary, most of us will become thankful for what we have. Some of the fear should evaporate--is already imo. And a Happy TG should spark a good retail christmas that will include tech. With the capex debacle coming to an end simultaneously, we may have a good '03. Who knows. Some are predicting that last quarter growth would be restated down and this quarter may be negative as well which could mean we are actually coming out of the double dip recession not going in to it. Timing is right for a 4th quarter rebound. And the market looking forward 6 months may be viewing a better picture unless we were to have a triple dip(which has happened in the past). Perhaps the worse is behind us. mike