21.   The pessimistic outlook reflects the economic downturn that has plagued Japan for the last several years.

22.   Wheat futures tumbled Friday on the Chicago Board of Trade as the pessimistic outlook for demand enveloped the market heading into a long holiday weekend.

23.   Wall Street had a pessimistic outlook on Friday on more worries about worsening corporate profits.

24.   But bank officials rebuffed pessimistic private outlooks, saying that the bank needed neither special economic stimulatory measures nor revision of its current macroeconomic policies.

25.   The London market slipped slightly this week as dealers wallowed in an ever-more pessimistic outlook for stocks here, despite renewed takeover activity in the utilities sector.