Portugal Telecom (PT) will not need to make any capital increase to finance its programme of domestic and foreign investment, vice-chairman Miguel Horta E Costa said. He told Reuters that the company's cashflow was basically sufficient but that in case of need, the company could turn to the debt market. "We are not considering, even remotely, a capital increase," he said.

Alcatel added to stock list: French group Alcatel was added to Morgan Stanley's European fresh money "buy" list of ten top-rated stocks, the US investment bank said. It replaced Germany's MAN on the list. Furhter detail was not immediately available.

Canal Plus large blocks traded off market: Three blocks totalling 1.44 million shares in Canal Plus were traded off-market, the SBF French Bourses Association said. This represents 4.6 per cent of the capital. Brokers said the off-market transaction refuelled speculation of a restructuring of the ownership of Canal Plus, in which Havas has a 30 per cent stake. Generale des Eaux, which owns 30 per cent in Havas, has indirect influence.

Rolls-Royce to pay millions to Saudi arms dispute: Rolls-Royce is facing the prospect of having to pay millions of pounds in compensation to a company believed to belong to a member of the Saudi royal family, according to media reports. The aircraft engine and turbine manufacturer is among a number of companies from Britain included in the 20 billion pound al-Yamamah arms deal signed in 1985 by the Thatcher government with Riyadh.

Turkey to buy 49 Boeing 737 planes: Turkey is planning to purchase 49 Boeing 737 airplanes, according to Turkish premier Mesut Yilmaz. The US vice president Gore will join me in a ceremony in which Turkey will agree to purchase 49 Boeing 737 aircraft made by Boeing, Ylmaz said.

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