Posts tagged ‘Bank’
The financial sector in positive territory exchanges across Europe, supporting virtually all price along with good intonation and telephony technology. Among banks, UBS rose (+3.52%), Bsch (+3.41%), BBVA (+2.84%), BNP Paribas (+2.83%) and Societe Generale (+2.22% ). Out in front of insurance, Aegon (+4.38%), ING Groep (+3.76%), Zurich Financial (+3.70%), Allianz (+2.85%) and Axa (+2.49 %).
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Over the last few days has increased investors’ worries about the credit risk of the French bank, in light of recent news concerning Vivendi (downgrade to junk status by Moody’s) and France Telecom (heavily indebted). Merrill Lynch estimates that the impact of these risks is limited: 1.2 billion euros or 1.5 euros per share on BNP Paribas, 834 million euro or 2 euros a share at Societe Generale, 1.8 euros per share Crédit Lyonnais. Based on these estimates, the U.S. broker has revised downwards its earnings forecasts 2002-03 average of 8% of the three institutions, even if assessments remain interesting (Play confidential)
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Morgan Stanley started coverage of the British title William Hill (betting companies just entering the stock exchange) with the equal-weight rating and a target price of 260 pence. The fundamentals of the company are positive according to the investment bank, but the sharp rise on the day scored IPI facto restriction on the potential upside. At this time, William Hill exchange 265 pence a share (+0.8%).
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He resigned yesterday from his position as CEO of Bipop Maurizio Cozzolino. The basis of this choice, as it did know the same Cozzolino, Bipop the inspection report on the Bank of Italy. The young banker is also among the suspects in the investigation of the Prosecutor of Brescia management that led Bipop adrift. It appears that other managers have followed Cozzolino and without packing.
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The financial sector is penalized by investors today on the Old Continent. Among banking stocks, exchange of heavy red Credit Suisse Group (-7.23%), Bsch (-5.50%), Credit Agricole (-5.30%), Commerzbank (-4.57%), Danske Bank (-4.23%), Dnb Holding (-4.07%), UBS (-3.70%), BNP Paribas (-3.65%) and Fortis (-3.46%). In contrast Nordea (+1.93%) and Seb (+1.12%).
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New member bank (Mediobanca?) Could assist Telecom Italy in the merger-acquisition-Stream Telepiù. He said this morning Tarek Ben Ammar, consultant direct Australian tycoon Rupert Murdoch, in these days in Italy to discuss the deal. “We are in Italy for this reason,” said the consultant, “and we are doing due diligence that we give clear explanations on the Italian system.
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Schroder Salomon Smith Barney raised its recommendation on the title today M6 bringing it to underperform from neutral, identifying a new target price of 27 euros, compared with 17 earlier. The bank’s business declined to give further details on his trial. At this moment, the title M6 is scoring a loss of 3.36% to 27.33 euros.
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The Cac ended with an eighth decline in 1, 3%. Weigh negatively on the larger trans index were the performance of many players in the red technology sector. Dassault Systeme and black sweater, with the title that has left at ground level from 6.7%. Difficulties also Stmicroelectronics which has lost 5.5%. Noin has shone even the banking sector, as evidenced by delays by SocGen and Credit Lyonnais, both of 3.5%. Among the titles in the form, instead, Dexia reported that after the eighth of passion experienced last week, has recovered the five days ending with a leap of just under 6%. Carrefour also on the shields which gained just over 5%. Also resurrects Orange, whose title has been able to face difficult eighth that characterized the telephone titles, closing with an encouraging recovery of 2.6%.
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Resists plus sign in Piazza Affari, like other European exchanges, which seems to almost want to take advantage of the fact that Wall Street will be closed today for festività.A Milan meanwhile Mibtel earns 0.6%, while the Numtel struggling to stay on the edge of the seat parità.Sul Mib30 positive: General (+1.5%), well even Ras (+3.7%) and the minus signs Alleanza.Tra still uncertainty on the title in the fall of Fiat ( -3.5%), even bad Bank of Rome, which scored a fall of 2.6%.