Stocks are looking at a rebound this morning after a rough week, last week. Big blue chips such as General Electric Co. and IBM are enjoying most of the attention in early trading.

The techs look strong generally, particularly chip stocks. Though Nortel Networks may have a rough day. The company has filed to sell as much as US$2.5 billion in new securities.

In Europe, stocks are up modestly. Banks are leading the way higher after HSBC Holdings plc had its outlook upgraded by Goldman, Sachs & Co. But there’s weakness in Vivendi and Chubb plc. The London FTSE is up a point to 5172. The Paris CAC 40 has gained five ticks to 4335. The German DAX is down 34 points to 4906.

Overnight in Asia, stocks were mixed. The Nikkei lost 194 points to 11337, despite news that Toyota Motor Corp. reported a rise in second-half profit that was higher than expected. The Hang Seng gained 88 points to 11733.

In M&A news, Sears, Roebuck & Co. is buying retail rival Lands’ End for US$1.9 billion.

There’s also a new oilpatch marriage in the works, as Canadian Natural Resources buys Rio Alto Exploration Ltd. for $18.10 in cash, subject to an aggregate maximum of $850 million cash, or 0.3468 of a common share of Canadian Natural to an aggregate maximum of 12.270 million common shares.

Pan American Silver Corp. reported a net loss for the first quarter of $1.3 million, compared to a net loss of $1.5 million for the first quarter of 2001 and a net loss of $4.4 million for the fourth quarter of 2001. The improvement is due primarily to outstanding performance of the Huaron mine during the quarter and cost cutting.