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IDS World Markets for 4/29/03


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Looks like the Monday EU/USA melt up is spreading. The Hang Ten is up over 2%. Other Asia Pacific Markets up too. The Nick-me is closed for a National Holiday in Japan. Have to wait until Wednesday to see if Sony will do a 3-peat of limit down days.

 

Jo-berg Gold Stock Index was down 6% Friday with Monday being a South African Holiday. If the SA Golds don't come back a little today, the miners all over the world could be in deep kumpshy-wa, IMO. Lettuce C.

 

Uncle Buck-

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Spoo-Hoo's-

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Globex Flash Quotes Link

 

From Bloomberg

Asian Stocks Rise, Led by Cathay Pacific, Singapore Airlines and Qantas

Asian stocks rose, led by Cathay Pacific Airways Ltd., Shangri-La Asia Ltd. and other travel- related shares, after some countries reported progress in controlling the spread of severe acute respiratory syndrome.

 

Yen Rises After U.S. Says North Korea Offered to Scrap Its Nuclear Program

 

Sinopec Profit Surges 12-Fold on Higher Oil Prices, Limits on Competition Bloomberg

 

 

AM Market Call By CNNMoney

 

 

BTW, anybody see this story?

 

Pilots' stir may be declared illegal

 

NEW DELHI APRIL 28. The Government today toughened its stand against the agitating Air-India pilots by moving to get their strike declared "illegal". With a majority of the AI pilots refusing to fly due to the SARS scare for the past three days, the airlines' passengers have been badly affected. Story

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The jury went out at market close yesterday, returned this am and said 'the market will go up' and it did... +1% straight up on open and then sideways for the rest of the day. The bulls got the bit between their teeth and went for it. The only consolation is the volume wasn't anything to write home about.

 

My lovely Qantas put which was worth lots yesterday on a 5% drop of the parent stock reversed today when QAN rose 7%. Thank you WHO, remind me to send you a basket of stinging nettles.

 

The other 2 puts I'm in, AMP and PBL were pushed further out of the money. All in all it wasn't one of my best days for sure. Fortunately the weather is perfect so I went for several invigorating strolls around the garden which kept me sane ..

 

Golds mixed:

 

LHG +1.5%

NCM -0.9%

NEM -1.8%

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Jo-burg miners are down another 3%+ plus at mid-day trading. That's down ~10% in the last 2 trading days.

 

 

The SOX may get the attention of the momentum players in the USA tomorrow, look what's happening with the Euro-Semi's.....

 

From Bloomberg

 

European Stocks Rise; Ericsson, Alcatel, Philips, Nokia Gain

 

 

.....Royal Philips Electronics NV advanced after Taiwan Semiconductor Manufacturing Co., of which Philips owns about a quarter, reported earnings that beat anal cyst forecasts.

 

.....Philips, Europe's third-biggest maker of semiconductors, rose 2.2 percent to 17.08 euros....

.....Infineon Technologies AG, Europe's No. 2 chipmaker, gained 1.5 percent to 6.97 euros.....

......Unaxis Holding AG, Europe's third-biggest maker of semiconductor equipment, rose 4.7 percent to 101 Swiss francs. The Swiss company reiterated a forecast that it will post operating profit this year, for the first time since 2000. It also said first-quarter sales rose 15 percent. ASML Holding NV, Europe's biggest chip-equipment maker, rose 3.2 percent to 7.80 euros. Bloomberg

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