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%).
Excellent show of force on the UK insurance sector, the sector remains the focus of investors after the scandal that hit telecoms giant WorldCom. At this time, Prudential earns 7% to 599 pence, CGNU up by 6.6% to 524 pence, Legal & General surplus of 4.8% at 131.5 pence, while Royal & Sun Alliance jumped ahead by 5.9 % to 252 pence.
Shares in Royal of Scotland slipping 2.8% in London to 1880 pence after the British bank announced an acquisition of 273 million dollars in the United States. The operation was conducted by the subsidiary Citizens Financial Group, which has taken Medford Bancorp, a bank of small to medium.
The German tourism giant Preussag is expected appointment of quarterly data. According to analysts the first three months of 2002 should still highlight a slow recovery of the tourism sector. Worries which was accentuated after the profit warning issued last week by British rival MyTravel.
It ‘takes the reaction of the fund Liverpool, managed by Gondon Singer, against the conclusions about the affair Consob Sai-land. The British company has issued a statement stating “strongly impressed that Consob has changed in a manner so blatant its assessment of the role that Mediobanca had in the purchase of shares by Fondiaria SAI and white knights.” Outrage at the lack of protection for minority shareholders: Liverpool holds 1% of the capital of La land. Participation could have a significant weight in the assembly of the company in Florence on 30 May when the votes were frozen cross as required by Italian law. Liverpool as it requests to Consob who shares the “White Knights” are locked in as “portage” in favor of Sai, real shareholder of the company itself among the shareholders of the Florentine group companies Ligresti. The court of Florence has not accepted this understanding, rejecting an old instance of some members from Tuscany. The moment the title La Fondiaria down by 6% to 4.85 euros. High ivolumi and equal three times the monthly average.
Jean-Hughes Loyer, President of Castorama, today announced his resignation from the board of Kingfisher, the British group that last week ahead and his ascent to the French company specialized in trans-yourself. The basis of this choice there would have been the manager of French opposition to the scale of Kingfisher in Castorama, already owned 55%. At this moment the title Castorama is scoring an increase of 1, 12% to 67.8 euros, while that of the English group is accusing a slight decline of 0.5%.
The sitting quietly in Piazza Affari, where the indices for the whole day in some small progress, it was dyed red in late afternoon. On closing the Mibtel marked a decline of 0.41%. Sitting positive for Banca di Roma, Bipop to slip instead. The Assembly gave the go at the marriage between the two institutions. In progress Fiat, Pirelli, Olivetti and L’Espresso, in the wake of the French media. Well even IntesaBci and Bulgari. In the red for Alliance, BNL, MPS, Mediaset, Mediobanca, Sanpaolo, Snam Rete Gas and Seat. Among the worst securities Dalmine, collapsed under the weight of Appeal of British giant BHP Italian company that requested a maxi-compensation from 331.5 million euros for the supply of pipes in 1993.
Still in the red title Marconi, British company specializing in equipment for TLC. The action now is losing 3.5% to 30 pence, because of skepticism that remains on the market about the possibility of reduction of the company as required by management. Marconi said this morning that remains on course to achieve the target debt (2.7-3.2 billion pounds) from the present 4.3 billion in liabilities, while acknowledging the negative trend of the main markets where it operates.
British Airways’ passenger traffic fell 24.7% year on year in October. The figure, calculated in terms of revenue passenger, was announced by British airline, which stated that traffic has dropped by 36.2% for those traveling in business class and 22.4% for passenger economy class. “The market still presents considerable difficulties,” said the society on the eve of the presentation of six months. The shares closed the trading day in London in advance of 6.3% to 156 pence, after hitting an intraday minimum of 133 pence.
Vodafone recover from the lows of the morning, but remains anchored to the minus sign after the already noticeable losses last week. The title right now is trading at 140 pence (-0.88%), while continuing to behave better rival British Telecom, the rising 0.99% to 460.5 pence. Good upside however for Cable & Wireless, which gained 1 .36% at 354.25 pence.
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