Wall Street Stocks are mixed with blue chips rebounding from (1) . Right now

Wall Street Stocks are mixed with blue chips rebounding from earlier losses. Right now the DOW industrials are up nearly 12 points at 69.39. It has been down 21 points. But the NASDAQ composite is down 4 points, at 13.43. Bonds also rebounded from their recent slump, the treasuries 30-year issue is up eleven-thirty seconds of a point in price, pulling the yield down to 6.62 percent. ITT is offering to buy a set, an Italian phone book publisher. The hotel and casino giant is looking for partners to complete the 1.6 billion dollar deal. ITT actually made the offer long before. Hilton hotels launched its 6.5 billion dollar takeover bid for ITT. But just a few weeks ago, ITT said it would stick to its core business and sell other assets to help fend off Hilton’s bid. The US dollar is mixed against most major currencies, after getting hammered on Thursday. The dollar is now up one quarter of the yen on the Japanese currency. It’s up slightly on the German Mark, but it’s down half a cent on the British pound. Turning to European stock market, shares in Germany lost more ground on Friday.
    In Frankfurt, the DAX is 12 points to finish the day at 31.84. British and French stocks are also weak. In London, the Financial Times 100 Index is down 34 points. And in Paris the Cackulaunt is down 1 point. Stiff competition in the European tire market is forcing Michelin to slash nearly 1,500 jobs. The French tire markets said the cut will come through early retirements, transfers and other measures. Union Baker Switzerland reporting 1996 loss of 235 million dollars, but most of that is due to a big charge for bad domestic loans. Separately, USB has tracked down a third of its 7 million dollar in dormant accounts dating back to World War Ⅱ. But it says none of the money relates to holocaust victims. Later, on world business today we’ll look what this means to the growing controversy.