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To: Little Joe who wrote (23490)	11/28/1998 11:37:00 AM
From: goldsnow	Respond to of 116796

Europe Stock Markets Seek To Unite Friday, 27 November 1998 P A R I S (AP) HOPING TO keep up with Wall Street, eight of Europe's most powerful stock exchanges agreed Friday to support moves to build a regional stock market. The agreement comes four months after the Frankfurt and London exchanges announced plans to form a joint market. The French had criticized the Anglo-German plan at the time, but since then Paris has been seeking a way to get in on the proposed alliance. At the meeting in Paris hosted by the parent company of the French stock exchange, exchange officials agreed to form a committee to discuss issues such as a trading schedule for the market, coordinating trading rules and technologies and the ways that stocks would be listed and valued. Of all attendees, only the officials from the Stockholm exchange declined to join the committee. Stockholm had previously expressed skepticism about the proposed exchange. Nonetheless, the French exchange's parent company expressed optimism about creating a regional market. "The first meeting was very constructive and sets a good basis for further progress," the company said in a statement. In recent months, the Paris market and the smaller European exchanges have realized that they will be left out if they don't join the movement toward one big European market. The new European currency, the euro, which begins Jan. 1, 1999, has also been a major impetus toward the creation of a pan-European market. The talks Friday were attended by the heads of the exchanges of Paris, London, Frankfurt, Amsterdam, Brussels, Milan, Madrid, Stockholm and Zurich. French Finance Minister Dominique Strauss-Kahn, at a briefing on Thursday, told reporters that the Paris market will be joining the London-Frankfurt alliance, which had been a thorn in France's side. A new European stock-market company could emerge as early as January, he said - a surprise announcement that left Paris Bourse officials, clearly not consulted, trying to water down the minister's remarks. The reaction reflected continued French skepticism about a speedy realization of a pan-European stock exchange.