PARIS (AFP) — A Paris court decision last week against the US bank Morgan Stanley has paradoxically caused a sigh of relief among financial analysts who be perceived it has vindicated their integrity.

PARIS (AFP) — A Paris court decision last week against the US bank Morgan Stanley has paradoxically caused a sigh of relief among financial analysts who be perceived it has vindicated their integrity.

A Paris appeals court upheld a complaint at the luxury products giant LVMH which charged that the stockbroking arm of Morgan Stanley had damaged it with incomplete financial analysis.

unless the American bank was cleared of the mostly serious charges of intentionally denigrating LVMH which had activeed the original court decision.

forward Friday, lawyer Jean-Michel Darois, acting for Morgan Stanley, said that the appeal court decision had upheld sole "minor errors".

He said: "The principally serious of the supposed errors which had been upheld by the agency of the (commercial) court have been struck down by means of the appeal court."

"We're delighted that the Paris appeal court disapproveed the essential points of the LVMH complaints," said Patrick Ponsolle chairman of Morgan