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Glaverbel ratings upgraded

A securities firm said that Belgian glassmaker Glaverbel“s rating had been upgraded to “hold” from “reduce”, while its earnings estimates also increased.
The firm said it raised its earnings foreca…

A securities firm said that Belgian glassmaker Glaverbel“s rating had been upgraded to “hold” from “reduce”, while its earnings estimates also increased. The firm said it raised its earnings forecast to Euros 8.28 per share for 2000 from Euros 7.11 previously and raised its 2001 estimate to Euros 9.44 per share from 8.55. It added that the changes reflected a shortage of glass in Europe and a 10% rise in prices over 1999.

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