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	</tr>     	<tr>     	    <td height="15">&nbsp;</td>     	</tr> 	<tr bgcolor=ffffff> 	    <td colspan="2"><p><table cellpadding="0" cellspacing="0" width="100%" border="0"><tr> 		    <td><p><script>_18941();</script></td> 		    <td align="right"><script>isSignIn();</script></td> 		</tr></table> 	    </td> 	</tr> 	</table>  		<!-- header end -->   	</td></tr>   	<tr><td align="left" valign="top" background=""> 		<!-- main BODY begin --> 		<HTML><HEAD><TITLE>zgalus</TITLE></HEAD><BODY> <table WIDTH="250" BGCOLOR="#E1E1E1" ><tr><td> <center><font face="Times New Roman,Times"><font size=-2><a href="index.htm">retour</a></font></font></center></td> <td><center><font face="Times New Roman,Times"><font size=-2><a href="ZgaAnalyseSbf80_23sept99.htm">d&eacute;tails sur la m&eacute;thode</a></font></font></center></td></tr></table> <center><i><font color="#008000"><font size=+1>Portefeuille "R.Sheard" sur l'indice SBF 80</font></font></i></center> <p><i><font color="#070060" size=-2> Portefeuille de quatre sur les 20 plus fortes capitalisations de l'indice SBF 80 (mthode R.Sheard)</font></i> <p><i><font size=-2>Portefeuille de quatre valeurs de l'indice SBF 80</font></i> <table border=0 cellpadding=0 cellspacing=1 width=900> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Sicovam</font></td> <td><font size=1><p align="center">Titre</font></td> <td><font size=1><p align="center">Date d&eacute;but</font></td> <td><font size=1><p align="center">Cours initial</font></td> <td><font size=1><p align="center">Quantit&eacute;</font></td> <td><font size=1><p align="center">Montant initial</font></td> <td><font size=1><p align="center">Date fin</font></td> <td><font size=1><p align="center">Cours final</font></td> <td><font size=1><p align="center">Montant final</font></td> <td><font size=1><p align="center">Performance %</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">13057</font></td> <td><font size=1 color="#0000ff"><p align="left">PUBLICIS</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">35.99</font></td> <td><font size=1 color="#0000ff"><p align="right">111</font></td> <td><font size=1 color="#0000ff"><p align="right">3994.89</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">21.31</font></td> <td><font size=1 color="#0000ff"><p align="right">2396.93</font></td> <td><font size=1 color="#008000"><p align="right">-40.78</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12975</font></td> <td><font size=1 color="#0000ff"><p align="left">Altadis (ex Tabacalera)</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">16.30</font></td> <td><font size=1 color="#0000ff"><p align="right">122</font></td> <td><font size=1 color="#0000ff"><p align="right">1988.60</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">18.90</font></td> <td><font size=1 color="#0000ff"><p align="right">2286.89</font></td> <td><font size=1 color="#008000"><p align="right">15.95</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12022</font></td> <td><font size=1 color="#0000ff"><p align="left">CNP ASSURANCES</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">42.69</font></td> <td><font size=1 color="#0000ff"><p align="right">46</font></td> <td><font size=1 color="#0000ff"><p align="right">1963.74</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">34.90</font></td> <td><font size=1 color="#0000ff"><p align="right">1610.27</font></td> <td><font size=1 color="#008000"><p align="right">-18.24</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">13260</font></td> <td><font size=1 color="#0000ff"><p align="left">USINOR</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">14.06</font></td> <td><font size=1 color="#0000ff"><p align="right">142</font></td> <td><font size=1 color="#0000ff"><p align="right">1996.52</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">10.27</font></td> <td><font size=1 color="#0000ff"><p align="right">1477.42</font></td> <td><font size=1 color="#008000"><p align="right">-26.95</font></td> </tr> </table> <p><i><font size=-2>Rendement du portefeuille</font></i> <table border=0 cellpadding=0 cellspacing=1 width=500> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Date d&eacute;but</font></td> <td><font size=1><p align="center">Montant initial</font></td> <td><font size=1><p align="center">Date fin</font></td> <td><font size=1><p align="center">Montant final</font></td> <td><font size=1><p align="center">Variation</font></td> <td><font size=1><p align="center">Performance %</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">9943.75</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">7771.52</font></td> <td><font size=1 color="#0000ff"><p align="right">-2172.23</font></td> <td><font size=1 color="#008000"><p align="right">-21.84</font></td> </tr> </table> <p><i><font size=-2>Evolution de l'indice CAC 40 sur la p&eacute;riode</font></i> <table border=0 cellpadding=0 cellspacing=1 width=500> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Index</font></td> <td><font size=1><p align="center">Date d&eacute;but</font></td> <td><font size=1><p align="center">Index d&eacute;but</font></td> <td><font size=1><p align="center">Date fin</font></td> <td><font size=1><p align="center">Index fin</font></td> <td><font size=1><p align="center">Variation</font></td> <td><font size=1><p align="center">Performance %</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">Cac40</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">5926.42</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">4264.89</font></td> <td><font size=1 color="#0000ff"><p align="right">-1661.53</font></td> <td><font size=1 color="#008000"><p align="right">-28.03</font></td> </tr> </table> <p><i><font size=-2>Evolution de l'indice CAC 40 depuis d&eacute;but de l'ann&eacute;e</font></i> <table border=0 cellpadding=0 cellspacing=1 width=500> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Index</font></td> <td><font size=1><p align="center">Date d&eacute;but</font></td> <td><font size=1><p align="center">Index d&eacute;but</font></td> <td><font size=1><p align="center">Date fin</font></td> <td><font size=1><p align="center">Index fin</font></td> <td><font size=1><p align="center">Variation</font></td> <td><font size=1><p align="center">Performance %</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">Cac40</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">5926.42</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">4264.89</font></td> <td><font size=1 color="#0000ff"><p align="right">-1661.53</font></td> <td><font size=1 color="#008000"><p align="right">-28.03</font></td> </tr> </table> <p><i><font size=-2>______________________________________________________________________________________________________________________________________</font></i> <p><i><font size=-2>Rendement du portefeuille de dix titres</font></i> <table border=0 cellpadding=0 cellspacing=1 width=250> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Date d&eacute;but</font></td> <td><font size=1><p align="center">Date fin</font></td> <td><font size=1><p align="center">Performance %</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#008000"><p align="right">-26.54</font></td> </tr> </table> <p><i><font size=-2>Choix de dix titres de l'indice SBF 80 avec les plus forts rendements</font></i> <table border=0 cellpadding=0 cellspacing=1 width=900> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Sicovam</font></td> <td><font size=1><p align="center">Titre</font></td> <td><font size=1><p align="center">Date d&eacute;but</font></td> <td><font size=1><p align="center">Cours initial</font></td> <td><font size=1><p align="center">Yield</font></td> <td><font size=1><p align="center">Date fin</font></td> <td><font size=1><p align="center">Cours final</font></td> <td><font size=1><p align="center">Performance %</font></td> <td><font size=1><p align="center">Capitalisation</font></td> <td><font size=1><p align="center">NrSeqYield</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">13260</font></td> <td><font size=1 color="#0000ff"><p align="left">USINOR</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">14.06</font></td> <td><font size=1 color="#0000ff"><p align="right">3.41</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">10.27</font></td> <td><font size=1 color="#008000"><p align="right">-26.95</font></td> <td><font size=1 color="#0000ff"><p align="right">3419720975.88</font></td> <td><font size=1 color="#0000ff"><p align="right">9</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12188</font></td> <td><font size=1 color="#0000ff"><p align="left">HAVAS ADVERTISING</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">15.40</font></td> <td><font size=1 color="#0000ff"><p align="right">19.48</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">7.12</font></td> <td><font size=1 color="#008000"><p align="right">-53.76</font></td> <td><font size=1 color="#0000ff"><p align="right">4059154283.80</font></td> <td><font size=1 color="#0000ff"><p align="right">1</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12975</font></td> <td><font size=1 color="#0000ff"><p align="left">ALTADIS</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">16.30</font></td> <td><font size=1 color="#0000ff"><p align="right">1.23</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">18.90</font></td> <td><font size=1 color="#008000"><p align="right">15.95</font></td> <td><font size=1 color="#0000ff"><p align="right">5234925636.60</font></td> <td><font size=1 color="#0000ff"><p align="right">37</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">13057</font></td> <td><font size=1 color="#0000ff"><p align="left">PUBLICIS GROUPE SA</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">35.99</font></td> <td><font size=1 color="#0000ff"><p align="right">4.72</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">21.31</font></td> <td><font size=1 color="#008000"><p align="right">-40.78</font></td> <td><font size=1 color="#0000ff"><p align="right">4930683733.07</font></td> <td><font size=1 color="#0000ff"><p align="right">6</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12022</font></td> <td><font size=1 color="#0000ff"><p align="left">CNP ASSURANCES</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">42.69</font></td> <td><font size=1 color="#0000ff"><p align="right">2.06</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">34.90</font></td> <td><font size=1 color="#008000"><p align="right">-18.24</font></td> <td><font size=1 color="#0000ff"><p align="right">5835036630.18</font></td> <td><font size=1 color="#0000ff"><p align="right">24</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">13290</font></td> <td><font size=1 color="#0000ff"><p align="left">PECHINEY ORD.A</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">48.69</font></td> <td><font size=1 color="#0000ff"><p align="right">1.66</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">46.69</font></td> <td><font size=1 color="#008000"><p align="right">-4.10</font></td> <td><font size=1 color="#0000ff"><p align="right">3919209915.42</font></td> <td><font size=1 color="#0000ff"><p align="right">29</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12102</font></td> <td><font size=1 color="#0000ff"><p align="left">CGIP</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">50.50</font></td> <td><font size=1 color="#0000ff"><p align="right">1.78</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">30.10</font></td> <td><font size=1 color="#008000"><p align="right">-40.39</font></td> <td><font size=1 color="#0000ff"><p align="right">3427467572.50</font></td> <td><font size=1 color="#0000ff"><p align="right">27</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12548</font></td> <td><font size=1 color="#0000ff"><p align="left">VINCI (EX-SGE)</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">65.50</font></td> <td><font size=1 color="#0000ff"><p align="right">2.44</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">65.50</font></td> <td><font size=1 color="#008000"><p align="right">0.00</font></td> <td><font size=1 color="#0000ff"><p align="right">5087108852.00</font></td> <td><font size=1 color="#0000ff"><p align="right">18</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">12595</font></td> <td><font size=1 color="#0000ff"><p align="left">REXEL</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">90.00</font></td> <td><font size=1 color="#0000ff"><p align="right">1.49</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">59.05</font></td> <td><font size=1 color="#008000"><p align="right">-34.38</font></td> <td><font size=1 color="#0000ff"><p align="right">4312518300.00</font></td> <td><font size=1 color="#0000ff"><p align="right">32</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="center">7327</font></td> <td><font size=1 color="#0000ff"><p align="left">SAGEM SA ECH.</font></td> <td><font size=1 color="#0000ff"><p align="center">01/01/01</font></td> <td><font size=1 color="#0000ff"><p align="right">142.40</font></td> <td><font size=1 color="#0000ff"><p align="right">2.68</font></td> <td><font size=1 color="#0000ff"><p align="center">19/10/01</font></td> <td><font size=1 color="#0000ff"><p align="right">53.00</font></td> <td><font size=1 color="#008000"><p align="right">-62.78</font></td> <td><font size=1 color="#0000ff"><p align="right">4117803868.80</font></td> <td><font size=1 color="#0000ff"><p align="right">15</font></td> </tr> </table> <p><i><font size=-2>Outsider</font></i> <table border=0 cellpadding=0 cellspacing=1 width=350> <tr bgcolor="#F2DC91"> <td><font size=1><p align="center">Titre</font></td> <td><font size=1><p align="center">Tri rend</font></td> <td><font size=1><p align="center">Tri prix</font></td> <td><font size=1><p align="center">Outsider</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">HAVAS ADVERTISING</font></td> <td><font size=1 color="#0000ff"><p align="right">1</font></td> <td><font size=1 color="#0000ff"><p align="right">2</font></td> <td><font size=1 color="#008000"><p align="right">3</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">USINOR</font></td> <td><font size=1 color="#0000ff"><p align="right">3</font></td> <td><font size=1 color="#0000ff"><p align="right">1</font></td> <td><font size=1 color="#008000"><p align="right">4</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">PUBLICIS</font></td> <td><font size=1 color="#0000ff"><p align="right">2</font></td> <td><font size=1 color="#0000ff"><p align="right">4</font></td> <td><font size=1 color="#008000"><p align="right">6</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">CNP ASSURANCES</font></td> <td><font size=1 color="#0000ff"><p align="right">6</font></td> <td><font size=1 color="#0000ff"><p align="right">5</font></td> <td><font size=1 color="#008000"><p align="right">11</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">SGE</font></td> <td><font size=1 color="#0000ff"><p align="right">5</font></td> <td><font size=1 color="#0000ff"><p align="right">8</font></td> <td><font size=1 color="#008000"><p align="right">13</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">Altadis (ex Tabacalera)</font></td> <td><font size=1 color="#0000ff"><p align="right">10</font></td> <td><font size=1 color="#0000ff"><p align="right">3</font></td> <td><font size=1 color="#008000"><p align="right">13</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">SAGEM</font></td> <td><font size=1 color="#0000ff"><p align="right">4</font></td> <td><font size=1 color="#0000ff"><p align="right">10</font></td> <td><font size=1 color="#008000"><p align="right">14</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">CGIP</font></td> <td><font size=1 color="#0000ff"><p align="right">7</font></td> <td><font size=1 color="#0000ff"><p align="right">7</font></td> <td><font size=1 color="#008000"><p align="right">14</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">PECHINEY ORD.A</font></td> <td><font size=1 color="#0000ff"><p align="right">8</font></td> <td><font size=1 color="#0000ff"><p align="right">6</font></td> <td><font size=1 color="#008000"><p align="right">14</font></td> </tr> <tr bgcolor="#EEEEEE"> <td><font size=1 color="#0000ff"><p align="left">REXEL</font></td> <td><font size=1 color="#0000ff"><p align="right">9</font></td> <td><font size=1 color="#0000ff"><p align="right">9</font></td> <td><font size=1 color="#008000"><p align="right">18</font></td> </tr> </table> <FONT SIZE=1><P>Copyright   1999, zgalus . 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