Brilliant start to the day for banking stocks belonging to Mib30. Unicredito is scoring an increase of 3.71% to 3.77 euros, Sanpaolo-Imi halls of 4.08% to 8.17 euros, IntesaBci earns 3% to 2.20 euro, 3% to 3 Mps , 05 euros, the BNL 1, 3% to 1.30 euros and 3.27% in Capitalia 1.265 euros. The closure yesterday of the Milan Stock Exchange is pushing investors to buy securities, thereby aligning the performance measured by the European exchanges yesterday.
Afternoon of sales for the titles of the major airlines in the continent affected by the opening strongly negative, the stock exchange on Wall Street, the bankrupt U.S. Airways. Securities that pay more are: Lufthansa loses 4.57%, KLM, which marks a decrease of 5.39%. Red mark for Iberia, with a -1.18% decline in Alitalia, 1, 19% and British Airways which leaves on the ground more than three percentage points. Among the red marks that Air France also lost around 0.57% at the Paris Bourse.
Back in red indexes Italians after attempting a recovery towards equality. Mibtel yields in fact the 0.7% share at 18,717 points while the Mib 30 leaves the field with 0.9% to 25,440. Piazza Affari is queued europoei the major indexes, declining all the time in this beginning of week characterized by expectations for the decision of Alan Geenspan on the discount rate, which at home business is expected to be revised downwards. To weigh down the list above Eni, a decrease of 0.9% to 15.79 euros. Too bad Tim, Telecom, Enel, which after a good sprint on data from the German company RWE has folded the red, and asset management with Bank Fideuram which yields 2.7% to 4.8 euro after soaring on Friday.
has reversed the situation for no reason at the Milan Stock and other stock exchanges of the continent. After a morning rebound in the afternoon the indices have folded it in negative territory. In Milan, where major stock indexes still more upright than in the rest of European stock exchanges, the Mibtel closed the session down by 1, 44%. A drag down the price list were banking and insurance. So evil Alliance, Ras and Generali as well as BNL, IntesaBci, Sanpaolo and Unicredit. Morgan Stanley in particular, has cut its price target from Unicredito 5.20 euros to 4.80 euros el’EPS 2003 of 10%. Bad day for Aem, Autogrill and Benetton, as well as Saipem, Snam Rete Gas and Fineco. But not even the right phone Bicocca. To contain the drop-down list is Eni.
Another bad day for the banking sector of the Old Continent, plagued by bad news came from HypoVereinsbank sull’outlook the third quarter. Negative influences from the States too, where we witness the collapse of the Titans (Citigroup and JP Morgan Chase). Among individual stocks, just slip HypoVereinsbank (-9.76%), Baer Holding (-7.30%), Commerzbank (-7.21%), Societe Generale (-6.70%), Barclays (-5, 22%) and Deutsche Bank (-5.18%). In controtenenza are reported HSBC Holdings (+0.58%) and Credit Agricole (+0.48%).
The People’s Trade and Industry has concluded an agreement with the English Commercial Union (CGNU) by providing for a partnership in bancassurance. Under the agreement the two realities will create a joint venture in life, while Commercial Union will buy stakes worth 200 million euros in the capital of banks in the group BPCI.
A few minutes of bargaining and IntesaBci already proved to be the worst title of the list of Mib30. The title of banks led by Corrado Passera yields 3.64% to 2.46 euros. A weigh on IntesaBci are the exposures to large groups such as Worldcom and Vivendi. She adds to the non-sale of Sudameris Brazil to Banco Itau, which probably will roll over to next September.
It seems a bit back ‘optimism on the markets even if the uncertainty and nervousness due to the continuous scandals budgets could to change the mood among traders. “At this point it is important that the Milan Stock Exchange to remain above 27700-27800 points. The market could well make a base, which could push up to the 29,800-resistance of 30 thousand points,” said by Dresdner Bank. “Today, operators are waiting to know what will the United States President George W Bush, on Wall Street. Given that pulls the air, we think it unlikely scare the markets.”
The German financial sector seems to suffer for the declaration of insolvency of Babcock Borsig launched last Friday, in addition to the climate of uncertainty that surfaced after the latest accounting irregularities discovered in the U.S.. Dresdner Bank said they had an exposure to the German engineering company “two figures (in million euros). Among the giants of Germany, suffering Allianz (-2.67%), Commerzbank (-2.41%), Deutsche Bank (-0.5%), Munich Re (-2.80%).