Travel with the recovery at the close yesterday that Alitalia has left on the ground for 7.4% due to capital and the probable choice of the state to reduce its stake in the carrier by 2003 . Today, the title is traveling in earnings instead of 1, 40% at 0.4140 euros.
failed attempts to rescue the German engineering company Babcock Borsig, bringing the fifth event of the insolvency in Germany for high profile companies. The creditor banks have been burned in the past when they tried to save the construction company Philipp Holzmann, did not want to risk again, given the current economic conditions.
E ‘the banking sector to bring down the price that yields to 0.77% in Milan because of rumors about possible new creative accounting made by the U.S. giant. After the Enron and WorldCom, would be the turn of the pharmaceutical group Merck had rigged the revenues of 12 billion dollars. Sales are so cut down on IntesaBci, losing more than 3%, but also on Sanpaolo-IMI, Fideuram and Mediolanum. Male also Numtel losing more than 2% while resisting Saipem, Highways and Ras.
Departure rising at the start eighth for Tod’s coming back to share 46 euros. The title of the company founded by Diego Della Valle is rising because of 2.06%.
Fears for the new accounting scandals in the United States are made immediately felt on the price lists in Europe, starting the session in decline on the previous Friday. Frankfurt at the time gave the 1, 63% at 4410.01 points, Paris arrears of 0.89% to 3829.08 points, London loses 0.70% to 4583.10 points while leaving the Zurich 1, 55% at 5931.10 points. Even bad Madrid (-0.89%) and Amsterdam (-1.18%).
The exploits of Repsol (+10%) and renewed confidence among investors are pushing on the maximum day the title of the six-legged dog. Eni is rising by 4% testing fee 16.80 euros even though volumes are lower than the daily average last month.
Merrill Lynch has cut its 2002 earnings forecasts of Publicis, which drops from 1.6 to 1.5 euros per share. Expectations on sales in the first half for an increase of 1, 9% to 1.17 billion euros. The U.S. broker maintains a Buy rating on the stock with target lowered from 38 to 35 euros. Right now, Publicis swap to 25.85 euros (+3%).
In the first half of 2002, Saipem has a record of acquisitions in the key field of offshore construction. The contracts have a total value of more than 1,200 million euros. The title of the subsidiary of Eni up today of 2.59% to € 7.69 euros.
Analysts at Schroder Salomon Smith Barney has raised its rating on Ericsson, from Underperform to Neutral. The target price is revised downwards by 23 instead of 18 Swedish kronor. The upgrade comes after a strong decline in prices, which have led the way to lose 70% YTD.
Analysts at Deutsche Bank have issued a Buy rating on the British title Diageo, with a target price to 1,000 pence. The beverage companies continue to show good growth in both the United Kingdom and the United States. The German broker has estimated sales growth around 9-10%, while earnings per share should increase over the next 3 years. At this time, Diageo exchanges 811 pence a share (+0.7%).
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