Stock market: Tuesday results.[E]

Closing:
Nikkei - 78.99 (-0.5%) 15,473.82
FTSE 100 -46.20 (-0.7%) 5850.70
DOW +31.22 (+0.28%) 11134.77
NASDAQ +11.93 (+0.56%) 2128.86
S&P +5.18 (+0.41%) 1272.52
10YR 100 5/32 +7/32 5.1%

Japan stock slide to ground dragged by Matsushita Electric Industrial
Co. and Toshiba Corp. losses after two American technology companies
highlighted weak Q-earnings reports starting the seasons with
disappointment. The extra pressure on Japan stock market urged yen lift 4-weeks advance versus USD yesterday
Market accelerated it's drop after Governmental report testified
Consumer confidence decline in Japan to 47.2 from prior 49.8.
Matsushita lost 1.7%; Toshiba -2.5%, and Tokyo Electron Ltd. -1%.
Nomura Holdings Inc. was off 2.6%; Daiwa Securities Group Inc. -3.5%;
Nikko Cordial Corp. -3.3%.

EU stock market followed Japan downwards tendency and closed in red.
Technology suffered main losses after US and Asia Q-earnings reports
testified possible corporate profits slow down.
French Alcatel SA dived to a 2-month low as Lucent Technologies Inc.
earnings missed forecasts. Remind that recently Alkatel SA informed an
intention to buy Lucent. Nokia Oyj (-2%) and Ericsson AB (-3.4%) were
also off.
Royal Philips Electronics NV (-3.8%) dropped on a message from Korean
brunch LG.Philips LCD Co. on a record losses. Safran SA(-6.8%) lost as
company earnings testify its competitiveness problems.
Lafarge SA felt on 2.3%.

Despite moderate start shares on Wall Street could lift to black by the
end of session. Main reason of investors' pessimism was warning on
earnings from
Telecommunication equipment producer Lucent Technologies brought extra
pressure by it's earns warning. On Monday Lucent warned it expects
earnings decrease in Q3 basically due to slowdown of equipment's sales in
North America.
This warning came on the heels of another disappointment from
representatives of technology sector. The manufacturer of storage of databases' equipment EMC showed financial results missed itself forecasts.
One more Dow component Alcoa put pressure upon the market. Company's
earnings rose in Q2, however, revenue missed forecasts.
Corporate news: Internet provider America Online expects the reduction
of operation revenue on $1 bln. through 2009 because of the program on
granting free-of-charge services to some clients, informs Wall Street
Journal. However the edition also informs revenue of the company for
this period will increase. Google plans to build office and research
center in Ann Arbor (Michigan), where about 1,000 persons will work, New
York Times writes.
Oil closed on $74.05/barrel.
Trade volume: NYSE - 1.32 bln.; Nasdaq - 1.71 bln.