Cede land deal that the Tokyo Stock Exchange, in the wake of last Black Friday, has left at ground level 2.35% at 10,664 points, while the Topix lost 2.71% to 1025 points . Have suffered the session, the bank among which are Mitsui Banking (-7.2%) and Mizuho Holdings (-4.03%).
enter the positive reviews for the banking group Rocca Salimbeni. Analysts at Deutsche Bank maintained its rating “buy” but raising the price target on increasing from 3.64 to 3.7 euros. MPS is passing from hand to 3.52 euros, almost on the level of last Friday.
Still in the red title Commerzbank, the German banking group. The data published this morning of the third quarter, below analysts’ expectations weigh on the title, which currently yields nearly 4%, to 19.65 euros. Also negative in Frankfurt Deutsche Bank, which lose 1, 25% to 70.90 euros.
“The East remains volatile on technology, because as of today, there will be a very interesting set of corporate results,” say a sim note of Milan, “The German company Siemens will announce this morning the data, while for the chip maker Infineon, along with the French Alcatel, tomorrow will be the day of company data. ” One area that could benefit instead of the Fed’s next move is that of the bank. “In the viewfinder also banking stocks, after titles such as Barclays and Deutsche Bank have touched new highs yesterday ahead of Fed rate cut in favor of the industry,” concluded the sim. Remember that the results of Deutsche Bank are also expected next Thursday.
There is great expectation in the market for the announcement of an alliance between Deutsche Bank, SAP, and high-tech companies AOL, the Internet company known American. If English Halifax dominated the scene last week with the initiative to create an online bank to sell loans, lenders want now Germans steal the scene. The agreement, which should be made official today, should lead to the creation of an online banking network. Hypovereinsbank also wants to invest on the Internet, and will spend 100 million euros to develop this project.
Sector Rotation under way at the Milan is also affected some companies in the insurance industry. Particularly brilliant performance of Alliance, which is among the top Italian companies in life insurance. According to Francesco Pacifici, an analyst at Centrosim, “the storm that hit the banking and insurance should be behind us and for the insurance industry should open up good prospects. Alliance and Global are securities which point in the long term, because historically have a growth rate slow but steady, are titles for drawers. Flattering, this morning the performance of Alliance, who is scoring a rise of more than 3.5%. Fair also the performance of Leon Trieste, now firmly above 30 euro fee.
Despite the high economic performance and the rumored interest from some German banks, the banking stocks high Internet is doing to register a course correction in stock market values. Is currently on the ground, leaving more than 1 .5% and is worth about 90 euros, well below the ambitious target than the price indicated by various analysts.
The French insurance group AGF announced that profits for 1999 reached 666.8 million euros, an increase of 32.5% over the previous year. The tour business has benefited from an increase of 7.7% and stood at 13.46 billion euro. The company, owned 51% by Germany’s Allianz, in the year did not enjoy the interest of investors and has earned just over 1%, below the increases made by the major European competitors. The management of the company has announced plans to invest in online marketing of financial products and to focus strongly on a system of online banking. AGF is currently traded at 52.75 euros in Paris, up 1, 5%.
The FTSE has more than recovered the losses of the previous session remained above the psychological 6500 share points, thanks to the excellent performance of the Dow Jones. The index points to +0.99% at 6511 hours points. The market seems to reward the old economy to the detriment of the new economy, judged now too volatile. Forgiveness British Telecom (-2.2%) and Vodafone (-1%), while earning all of the banking and securities industry.
Closing the upside for the DAX in Frankfurt was able to resist the downward under way between the European stock markets. The German price closed at +1.12% to 8064 points. A tow the list was the banking sector ignited by the possible merger between Deutsche Bank (+7.2%) and Dresdner Bank (+20.99%). Also grow Allianz (+12.55%), shareholders of the two groups, and Commerzbank (+8%). In downward Deutsche Telekom to -3%% as the rest of the European telephone.