Seat negative for the Tokyo Stock Exchange that follows the trend outlined last night by Wall Street. Driving the Nikkei index lost 2.1% to 9501 points, remaining firmly anchored below the important psychological threshold of 10 thousand points.
The new eighth does not bring good news to the field of securities telephone the continent. To characterize this first half hour of trading are the sales that decision even killed by the title of the German Deutsche Telekom, which the Frankfurt Stock Exchange leaves at ground level from 2.59% passing from hand to 10.52 euros.
The Italian Parliament is crying that solves the problem Fiat. Fees for production activities of the House and Senate have in fact entered into a ‘hearing on the mistakes and the future of home in Turin. Future grim if it seems they are not taken adequate measures to relaunch request to the new government and property tax relief and greater clarity in action incisuvità rehabilitation, pain of delivery in foreign hands for the first Italian private industrial group.
“Although the market does not give signs of reversal of trend, no longer the time to take bearish positions on the market,” said Robert Baron, CEO of DeltaForex. “That is because at this moment has come to drop the technical prerequisites for the initiation of new bearish positions and would be better to stay liquid. A likely target for the movement to which we are witnessing is the place in area 23300-23700. The downward movement of long-term should not be finished yet (we are still far below the moving average of medium and long term), but now the market, and especially the technology and phones to be treated to a revival of interest, “concludes Baron.
“In this particular phase of the market rather stay at the window because, from a technical standpoint, we find ourselves in a situation not too good,” says Edoardo Mosca of New Investments sim. “It ‘important that the Milan Stock Exchange to remain above the minimum last Wednesday (24,550 points Fib NDR).. If it holds, it could also be a bounce. Ideally, though, is that for at least a week, the market remains on these levels, thereby developing a phase of accumulation. ” But the eyes of investors have turned everyone on Wall Street, and in particular the S & P500. “The Standard & Poor’s is oversold and held 850 shares, could also bounce with an initial target of 900 points and the Next at 940,” says Moscow.
Unicredit launches takeover bid on Onbanca, the bank listed on the New Media Market in Milan, for a value of 32 euros per share. Operation that also enshrines the end of the restructuring plan of the People’s Trade & Industry, the majority shareholder of Onbanca. The end shall come so thoroughly Xelion, the online bank Unicredit and Onbanca.
Edison was awarded, together with Repsol, RWE Dea, exclusive rights to explore and produce hydrocarbons in two new blocks in Algeria, with a potential estimated at 80 billion cubic meters of gas. Thanks to a contract with Sonatrach. Edison will have a share of 25%. The title gives 2.91% to € 2.1 euros.
bad day for the pharmaceutical industry in Europe in the wake of bad news came in recent days the United States. disappointing performance for Schering (-8.12%), Sanofi-Synthelabo (-6.80%), GlaxoSmithKline (-6.22%), Novartis (-4.52%), Aventis (-4.38%) and AstraZeneca (-4.06%). In contrast Serono (+4.63%) after the strategic agreement with Pfizer.
The general situation of the awards seems now to be closed circle. “The descent of a sector drags the other,” says Paola Brunelli, manager of Credit Suisse Asset Management, “To see a bounce it will take an exogenous factor, but difficult to detect. It could be the intervention of the government as France Telecom or new injections of liquidity, or finally tax reforms. But they are assumptions. However, if the season of the results to be better than expected, as happened at the end of the first quarter, then it reports confidence to investors. In this case evaluations of securities would be cheap compared to its historical context and therefore interesting. “
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.
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