Outside its two major markets, Kingfisher reported very strong growth in Poland (against weak comparatives) and good performances in Italy and China.

This is a very important acquisition for ABN because they struggle with growth and, though Italy is not a high-growth market like in Eastern Europe, there is more potential than in the Netherlands and most other countries where ABN is present.

On the other hand, I think 2-to-4-percent growth is good. I was hoping for better, but I think we're finally hitting bottom here.

The audiences all over Europe are great. They really appreciate the music. Italy - there is such a warm spirit there. It maybe have something to do with it being on the Mediterranean. I am a little mystic about it. It is the way that people live. People don't live in a lifestyle based on competition so the stress level is not as prominent.

We need more ingredients, ... Most of the technology companies have demonstrated improving margins and sequential revenue growth. The foundation is setting up for a recovery, but the market has come pretty far in a short period of time. We need some more conviction coming into August. I think we're going to trade sideways for the near term.

There's a strong handset replacement cycle going on right now that will generate the next phase of growth, ... First it was color and camera phones and now it will be higher resolution and video enabled phones that will be prevalent this holiday season.