Article: European stocks rise

MARIA DALY
AP Worldstream
01-20-2005
Dateline: LONDON
European stocks were lower Thursday as technology stocks fell out of favor following disappointing fourth-quarter earnings from online auctioneer eBay Inc. and mobile phone chip maker Qualcomm Inc.

Traders said U.S. fourth-quarter earnings are likely to guide market direction into the weekend.

"In the short term, earnings jitters may dominate trade as investors are eager to see good corporate profit growth in order to justify current equity valuations," said Geoff Langham, head of trading at CMC Group.

However, many in the market remain optimistic on the longer-term prospects for stocks. Deutsche Bank expects European equities to rise by 15 ...

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