Still in difficulty, the London Stock Exchange, which weighs in particular the negative performance of two big cap as mmO2 (-15.5%) and ARM Holdings (-12.4%). Henk Potts, investment manager at Barclays Private Clients, says that investors are still worried about the income prospects of the companies and the timing of an eventual recovery, while beginning to emerge as fears of future increases in interest rates. “It ‘hard to understand what will bring the market out of this impasse,” said Potts.
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Ron Sommer, CEO of Deutsche Telekom’s shareholders meeting this morning, the group confirmed the group’s intention of wanting to dramatically reduce corporate debt by, firstly, a real cleansing of the workforce . Will, in fact, 30,000 employees by 2004, will be laid off, specifies the manager adds that the cuts will occur mainly in the German subsidiaries of the group. The dismissals fall within the new strategy that aims to recover the Dt by 2005 about 10 billion euros. The additional investment impairments will cover the unit’s fixed nertworking, whose losses in the first quarter of the year have doubled. At this moment the title DT is gaining 2.25%.
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Expectations not quite positive for the quarterly Deutsche Telekom, which will be presented to the financial community tomorrow. “The situation of fixed telephony unclear (especially systems division), together with problems of T-Mobile’s subsidiary operating in the wireless industry, not militate in favor of the title,” said Simone Chelini, equity manager for Nextra, adding: ” I find some confusion even in numbers, due to changes in budgeted posts as a result of changes in activity in the various divisions. Then it will be impossible to compare ‘apples against apples’ and the confusion is not conducive to investment. ” Also on the front with little prospect of debt. “From the floor of divestitures do not expect much” continues Chelini. “The sale of property, announced as a sale for most pure, will be resolved in reality in a maxi-operation ’sale and lease-back’ (sales and contextual Re-renting) while reducing its debt load cost income statement . Even from cables, already put on sale, should get far less than estimated (something like 5 billion euros). I expect more weakness in that capacity until the summer. “Concludes Chelini.
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Click forward for the title of the bank led by neo at Corrado Passera. IntesaBci is in fact going up, 1, 53% with the action that has exceeded 3.30 euros thanks to the positive assessment of Morgan Stanley. Investment bank analysts have included IntesaBci’s list of favorite titles.
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The NM for over a month scored good performance, but the advice that prevails among analysts is to maintain extreme caution. Edoardo Mosca, technical analyst for new investments, comments on the current state of technological list of Piazza Affari “The Numtel scored from the lows of September, an increase of 60%, but this excellent result has been focused on a few titles with the blue chips that now over ten sessions stopped on the current levels. ” “The NM is characterized by its violent movements and the high volatility, recommend to remain cautious in working on this market, especially in light of the recent rebound. “Among the big titles like overkill for Tiscali, eBiscom or Biosearch, and that greater attention to smaller ones which keep the movement to some extent unpredictable.” “Tiscali is currently experiencing a side of between 7 and 8 euro: the maintenance of these levels could foreshadow an accumulation phase which would put the ISP among the most interesting titles NM.
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Blaze for some titles of real estate sector. Title Aedes is rising by more than 6% and moves at 4 euros, with the following actions rnc which rose by 5% to 3.99 euros. Same goes for Bastogi who scored a +5% to 0.24 euros. Increase of 2% finally for Real Estate Investments Lombardi. Remain in the shadows instead Beni Stabili, down 0.33% and Brioschi, which is unchanged.
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Riammessione for Finmatica: the current price of 73 euros the title leaves behind its target price of 70 euro set recently by a prominent Italian sim. Closing yesterday at 57.4 euros (+20.23%) which followed a peak of 62.81 euros demonstrates the continuing appeal of the company to investors. According to analysts Finmatica benefits on the one hand by waiting on new business in the sectors of e-commerce and other security offered by the image of the newly acquired Intesis. The explosion of trade is also due at the title by massive investment funds, which prompted yesterday’s share trading volumes and over 500 billion lire.
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The leadership of the Banca Popolare Commercio Industria has announced that according to the preliminary budget, the collection has both direct and indirect total recorded a jump in ‘99, approximately 29%. The gross operating surplus has, however, showed a decrease of 5% compared to ‘98, due to the large investments that the bank has had to bear the establishment of new branches and private banking units and the modernization of some branches. This could have resulted in recent stock market sessions, the down trend of the title, even today, a slight decline at the opening.
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positive comments from Lehman Brothers for Terra Networks, which the investment bank now has a target price of 150 euros. The positive outlook on the two titles Telefonica and Terra will explain by Lehman, the good performance in mobile, media activities, and that Telefonica’s alliance with Banco Bilbao both for the business to which the Internet banking busienss Telefonica 1e.Su Lehman now has a target price of 44 euros. Land exchanges sull’Ibex aa 116 euros in Madrid, scoring -6.5%, while Telefonica exchanges +1.21 scoring 31.88%.
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Between Seat and Tin.it marriage was fixed, the bouquet outfit are ready, but the details of the ceremony are still lacking. The summary of the board of Telecom, which took place yesterday. The only thing clear about the equality of treatment which will be paid to ordinary shareholders and to those savings in relation to actions Tin.it. But the opening of the financial market there was no evidence of the surge in telecom savings as many expected. “The action RNC had already discounted the news in recent sessions”, provide an analyst with a SIM in Milan, “Furthermore, the fact that there are ways and announced details of the transaction has left many doubts about treatment. What is certain is that for an investor is much more convenient to buy savings shares compared to the normal because, with a much lower investment (the ratio of ordinary savings is 2.2 to 1) you get the same rights to obtain shares in the portfolio of Internet Group telephone.
