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.
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%).
Analysts at Deutsche Bank have confirmed their opinion of buy on the title of French media giant Vivendi Universal. The target price has been set at 31 euros. Deutsche Bank points out, however, as the downgrade on the debt issued by Moody’s, he arrived unexpectedly and was therefore changed the risk profile.
This break down sales on Capitalia. The title of the ultimate holding company of the new banking group which includes the activities of Banca di Roma-Bipop-BDS is losing over 3% falling below the threshold of 1.90 euros. More than 3.3 million units traded. Yesterday capital was closed with an increase of 4%. In stark contrast, however, Bipop: +1.40% to 0.754 euros sospenta purchases since, most analysts consider it at a discount compared to Fideuram and Mediolanum.
The Bank HSBC business has raised its recommendation on the sector of oil and gas in Europe, from Neutral to Overweight. The reasons for the upgrade to be found in the reasonable assessment of the oil groups, in the soundness and transparency of profits, the power budgets despite weak demand. Estimates earnings per share were raised an average of 5% for 2002, but lowered by the same percentage for 2003.
It ‘another session of heavy discounts for the title of France’s Vivendi Universal, the Paris stock exchange, which scored a loss of 3%, passing from hand to 25.90 euros. The market does not reward the partial transfer of the capital Environmental Environnement. French media giant has sold 12% of the capital Environnement to Deutsche Bank, which should bear the participation for one year.
Allianz, after losing the leadership within the Dax index, suffering now, many sell orders dall’ufficializzazione also facilitated the departure from its capital of Deutsche Bank. At this moment, in fact, the title of the German insurance group is losing 5.21% to 194.8 euros, again below the threshold of 200 euros since 1997. In crises, including other titles in the German insurance industry. Squirm Marschollek continues to lose ground due to the prosecution received on preseunte irregularities related to the calculation of financial data. The title of the group is giving reassicurativo now 7.03% to 31.61 euros. Matt provision for Munich Re that lag behind, 1, 1%.
Close to decrease the leading financial centers of the Old Continent. Worst performance for London terminating the session late, 1, 12% at 4703 points. Flexion Abbey (-5.17%), while mmO2 after the last business day of yesterday marked a decrease of 3.14%. Faces pull even in Frankfurt, the Dax, where now he is losing 0.87%. Munich Re declined, affected by the choice of Deutsche Bank to sell its share capital. Reassicurativo The group is leaving at ground level from 3.61%, while the surplus of the banking Collage 0.82%. Red mark for Allianz (-3.13%). Signs of recovery, however, for Marschollek (+4.92%) dealing with problems related to the counting of your financial information. In Paris, however, the CAC has completed his trade in slight loss of 0.14%. To note the collapse of Aventis (-5.16%) and yet another misstep by France Telecom which has left at ground level from 3.03%.
“Given the uncertainty that hovers on the market and the sharp reassessment in recent days by Bipop, investors have rediscovered Banca di Roma. But in this case pushing downward.” And ‘this is the explanation that comes from a trader of a note that indicates sim Milan as arbitrageurs are doing “dance” the two titles. Bipop is preparing to close in upward of 1, 2%, while Bank of Rome gives 3.63%.
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