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Technology Stocks : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (115)	10/28/1998 10:32:00 AM
From: Steve Fancy	Respond to of 3891

Alstom SA Gets $42 Mln Electrical Contract In Egypt PARIS (Dow Jones)--Anglo-French engineering company Alstom SA (ALS) said Monday that it received a $42 million contract to supply the Egyptian Electricity Authority with a high-voltage substation in Cairo. In a statement, Alstom said the contract would be completed within 30 months.

To: Steve Fancy who wrote (115)	10/28/1998 10:33:00 AM
From: Steve Fancy	Respond to of 3891

Alcatel's Shares Rise Against Falling Stock Market PARIS (Dow Jones)--Shares in French telecommunications equipment group Alcatel SA (ALA) are up early Wednesday on the Paris bourse, rising against a falling overall market after the company released solid nine-month revenue figures. "The fall in revenues of the cable division was in line with expectations, while the company did slightly better than forecasted in telecommunications," said Christian Royer, a trader at IFF Bourse. Nine-month revenue rose 2.4% to FRF93.2, from FRF91.0 for the same period in 1997, the company said earlier Wednesday. Third-quarter revenue totaled FRF30.7 billion, down from FRF31.0 billion from the same time in 1997. The company said third-quarter sales of its cables and components division fell by 9.8%, while third-quarter sales of its telecommunications division rose by 10.1%. The stock stood at FRF577 at 1025 GMT, up 4.2%, or FRF23. The CAC-40 benchmark index was down 1.8%, or 62.91 points, at 3487.84 points. Traders said although investors in Europe have given a thumbs-up to the third-quarter and nine-month revenue figures, the test will come when U.S. financial markets open. Alcatel ADRs trade at the New York Stock Exchange. "U.S. pension funds are now much more cautious with numbers out from Alcatel," said a trader at Credit Lyonnais Securities brokerage house. Traders noted that Alcatel continues to be under a cloud after it surprised shareholders with a profit warning after reporting poor first-half results Sept. 17. The shares fell 38% on the Paris stock market that day. -David Gauthier-Villars; 33 (0) 1-5300-0303; dvillars@ap.org