Stocks are facing a mildly positive opening this morning, led by the techs.

This optimism comes after tech bellwether Cisco Systems Inc. said that orders are meeting its forecasts in the current quarter.

Finland’s Nokia Oyj suggested it may see it sales fall in the third quarter. But the Cisco news seems to be driving traders’ feelings.

In economic news U.S. durable goods orders fell 0.6% in July. And excluding transportation, orders are down 1.4%. Orders for durable goods at their lowest level in three years, led by decreases in computers and semiconductors. This number was expected to be weak though, so traders were hardly surprised.

In Europe, stocks are generally up on hopes that a weak German inflation report is giving plenty of room to cut interest rates and revive growth. The euro fell on speculation that possibility the European Central Bank will cut rates next week too.

In London, the FTSE is up 52 points to 5,448. In Paris, the CAC 40 has gained 77 points to 4,887. Germany’s DAX has gained 93 points to 5,347.

Overnight in Asia, stocks were mixed. The Japanese Nikkei struggled to close 39 points higher at 11,166. In Hong Kong, the Hang Seng dropped 235 points to 11,110.

In Canadian business news, Hollinger International Inc. is selling its remaining 50% interest in the National Post to CanWest Global Communications Corp. Hollinger representatives will resign their executive positions at the Post effective September 1, and the sale will be completed in March 2002, subject to regulatory approvals.

On the earnings front, Hydrogenics recorded a net loss of US$2.3 million or 6¢ per share for the three months ended June 30, 2001, compared to a net income of US$500,000 for the same period in 2000.

Finally, in litigation news, Canadian 88 Energy Corp. and Canadian Superior Energy Inc. announced today that all issues and all litigation between them and between Canadian 88 and Greg Noval have been fully settled. All existing litigation between the parties has been formally discontinued and the parties have exchanged general releases.