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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Mark Kubisz who wrote (4365)	5/4/1998 10:27:00 PM
From: Jeffrey L. Henken	Read Replies (1) \| Respond to of 18016

Broad Gains Boost Market TORONTO -- The stock market ended higher on the day, as speculation helped fuel big gains in the utility and industrial products groups. The Toronto Stock Exchange 300 composite index rose 35.05 points to 7737.16. Advances outpaced advances 570 to 466 and trading volume was 100.6 million shares worth 1.68 billion Canadian dollars. The utility sector rose 1.41% to lead all others, with telephone stocks BCE up C$1.25 at C$62.85 and BC Telecom gaining C$1.55 to C$53.50. "Clearly, we're going to have consolidation" in the telephone industry, and investors probably figure these companies in particular will benefit, said Jack Cook, portfolio manager at Scotia Investment Management Ltd. Other analysts attributed the gain in the utility sector to an improving interest-rate environment following the release late last week of U.S. economic data that indicated interest rates will remain low. However, bond prices ended down, which signals higher rates. Meanwhile, a hefty rise in Newbridge Networks' stock helped the industrial products sector post a 1.23% gain Monday. Analysts attributed interest in Newbridge's stock to talk that the network equipment supplier would make some announcements at a trade show in Las Vegas Tuesday. A company spokesman said announcements were planned for Tuesday, but declined further comment. Newbridge rose C$2.70 to C$44.80. Toronto performed roughly in line with New York, where the Dow Jones Industrial Average rose 45.59 points to a new closing high of 9192.66. Like I said folks a great start to the week for my stocks. I hope you are all long on NN at least. Regards, Jeff