A moderate upward departure for the title BNL, which has participated only marginally from the rise in bank stock of the previous days. The institute, led by Davide Croff is one of the missing piece in the mosaic of the Italian banking reorganization. Aside the idea of a merger with Unicredito BNL has decided, for now, to go it alone. The Bank of Via Veneto also plays a leading role in the story Bank of Naples, which may not be sold to San Paolo Imi, without the prior consent of the institute in Rome. According to recent statements by President Luigi Abete, this story is destined to find an outlet quickly. BNL earns the title when the 0.87% share to 3.72 euros.
Germany’s DAX index opened in negative territory immediately reached very low. The list German marks -0.94% to 7372 points. Lose almost all the thiols of the price list, except that marks Fresenius +0.94%.
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China Telecom, which operates in the mobile phone industry in China, announced sharp decline in profits during 1999. The net result stood at 4.8 billion yuan, down 30% compared to 1998. The reduction was due to a significant increase in the cost of renovation of the network for telecommunications.
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continues upward march of the title Fiat, which fully revived the old economy back in the spotlight on the Milan Stock Exchange. The listing salt, 1, 08% and back above 28 euros, after having peaked at 35.9 euros in the days preceding the announcement of the agreement with automotive giant General Motors.
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The board approved Eni’s consolidated financial statements for the year ‘99, which ended with a record net income of 2.857 billion euros, equal to 5.532 trillion lire, an increase of about 23% compared to ‘98. The consolidated financial statements confirmed the preliminary data announced by the board on 15 March. The board also approved the draft budget of the parent company Eni, which closed with a net profit of 2.224 billion euros, and propose ‘meeting the allocation of a dividend of 350 lire per share.
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Legal & General, the second largest UK group life insurance and pensions, has reported an increase in turnover of 6% in the first quarter to 156 million pounds. CEO Davis Prosser said that these data offers the prospect of a year in positive. The company, which was formed last year with National Westminster Bank, had seen the operation to fail after Royal Bank of Scotland launched a hostile takeover bid on Natwest.
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Alcan and Pechiney WOULD BE deposit for a new fusion project at the European Commission, following the precedent had been withdrawn because of ‘negative intervention of the European Commissioner for competition Mario Monti. Hardly the two partners re-appear, as rumored, a project similar to those already retired. If so it would be the first time this happens.
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The fix is physiological and certainly will not last long. This is the thought of some analysts. “The market view is positively oriented. The climate is of constant volatility with significant changes,” says Oriana Cardani analyst Rasfin, “The correction was expected in the short term, the new pause in the securities of the ball TMT, after the line Arrest of Nasdaq, was to be expected. My opinion is still positive on issues that continue to be a history of under-estimation. There was not however the sector rotation, but any attempts to return to the old economy are repeated for some time . In the short term telecoms, media and Internet stocks back into favor. “
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Back on the timeliness of his research team of analysts the online trading site of Eptasim (www.eptatrading.com) where you can work directly on the Italian market (10 euros per run, without fixed charge) . From May you can also operate on the U.S. market (Nasdaq and NYSE at a price of 29.95) on the derivatives market, while over the medium term will also be put on the European and Oriental. Left a few days the site has exceeded 100 thousand page views, with an average of 11 thousand per day. In total there are about 800 customers, while the free member are almost 4 thousand. The objective of the company is led by Mark Bolgiani reaches 25 thousand customers by year-end. Eptasim is the securities brokerage companies in the group which is part Epta five banking groups (Cr Bologna, CR Padova e Rovigo, Carige, Cr Firenze and Banco di Sardegna).
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The title of the bank led by Davide Croff be sluggish stock market and the tentative signs of recovery, although showing a few titles in the banking sector is not present, the Bank of Via Veneto. According to Emanuele Floridia, an analyst at Actinvest, “BNL still bears the marks of the long process of restructuring that has been subjected. It presents a level of suffering still high and the profits made in ‘99 largely derives from extraordinary results. However, the ‘institution is making good progress and has submitted a plan to expand the web of the most complete and credible. It also boasts a very interesting portfolio holdings, Albacom and Blue in the first place. Our price target is of 4.4 euro. ” Currently, the title BNL loses 0.78% to € 3.67 euros.