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Technology Stocks : Business Objects (BOBJ) - any followers??? -- Ignore unavailable to you. Want to Upgrade?

To: StormRider who wrote (540)	4/29/1998 5:50:00 PM
From: StormRider	Read Replies (1) \| Respond to of 1150

Here's an article from last night: Tuesday April 28, 9:14 pm Eastern Time ADR REPORT - ADRs rebound as rate fears ease By Ian Simpson NEW YORK, April 28 (Reuters) - American Depositary Receipts (ADRs) rebounded Tuesday as fears of a U.S. interest rate hike eased and investors sought bargains. Dealers said ADRs and foreign shares were following the rest of the U.S. markets higher. They were bolstered by a Washington Post report that said although the U.S. central bank was leaning more toward a rate hike than a cut, that concerns the economy was overheating had eased after new data suggested a lower pace of growth. ''People are heartened by some of the comments in the popular press overnight ... that it's an opportunity to buy,'' said Jason Myers of Latin American sales at Paribas. A dealer said: "People are still bullish." The Bank of New York index of 431 leading ADRs (^BKADR - news) was up 1.58 points, or 1.47 percent, at 109.39 points, easing slightly from its intraday high. French software company Business Objects SA (BOBJY - news) eased 1-1/16 to 17-5/8 in trade that was almost seven times normal daily levels. Business Objects was among volume leaders on the Nasdaq exchange. Traders said there was no news apparently moving the ADRs. However, Business Objects has seen very heavy trade in recent days as its ADR price rose from a closing price of 13 on April 8. Leading telecommunications and financial issues showed strong gains after being dragged down in recent days. Among them, Deutsche Telekom AG (DTEG.F) (DT - news) rose 1-8/16, or 6.6 percent, to 24-5/16 after the telephone company reported strong first-quarter results. The ADR was among percentage-gain leaders on the New York Stock Exchange. Swedish telephone equipment company Telefon AB L.M. Ericsson (LMEb.ST) (ERICY - news) rose 3/8 to 52-1/2 in moderate volume. Ericsson warned some analysts with especially high first-quarter earnings forecasts that seasonal factors may hurt results. Portugal Telecom (PTCO.IN) (PT - news) was up 3-1/16, or six percent, to 53-13/16 and was among percentage-gain leaders on the New York Stock Exchange. Telefonica de Espana (TEF.MC) (TEF - news) was up 5-3/16 to 124-3/4. Dutch financial services company Internationale Nederlanden Groep (ING.AS) (ING - news) rose 1-7/8 to 62-7/8. Britain's National Westminster Bank Plc (quote from Yahoo! UK & Ireland: NWB.L; NW - news) was up 2-1/8 to 113-1/8. Latin American issues were higher across the board. Telefonos de Mexico (TMXl.MX) (TMX - news) was up 1-2/16 to 53-15/16 after reporting quarterly earnings in line with forecasts. Brazilian telephone holding company Telebras SA (TEL_p.SA) (TBR - news) rose 1-3/4 to 115-3/4. Brazil's president said its privatization, scheduled for July, was still on course. ADRs allow U.S. trade of foreign shares.