The title of the list of worst Midex is currently that of the food group Parmalat, which sells more than 4% and changing hands at 2.7050 euros. Parmalat aims to reduce its presence in Brazil, where the group is highly exposed, and acquired 25% of an Austrian company which will act as a bridgehead for expansion in Eastern Europe.
The opening of Wall Street was not as brilliant as hoped brokers in Europe, and the Cac 40 index back to point downward. Among the stocks with the worst performance: Saint Gobain leaves on the ground just over 20%, Vinci (-5.59%), Lafarge (-4.97%). In stark contrast Renault, which earns more than 7%, Axa (+7%) and EADS, which marks +3.58%.
still dropping the title Giacomelli, which yields 7% with shares trading around 1.74 euros. Yesterday, the day of announcement of the acquisition of Longoni Sport, the title was dropped by 6%. The market therefore seems not to have appreciated this, however, leading the group in first place in Rimini distribution of sporting goods in Italy, with a share of 14.6%. “The market has not yet appreciate the work” comments upon the face of the title Simone Citterio, deputy general manager of corporate finance Euromobiliare, which followed the operation as a consultant just Giacomelli. “Longoni, strong in sports articles for technicians such as mountaineering, has opened nine stores last year, which should come up to speed,” adds Citterio, “and certainly the time is not immediate, but the management has already demonstrated Giacomelli know how to do well. The group integrates Rimini because the approach of a family business with a dynamic management group and Longoni was a great opportunity for geographical expansion in a little blanket. I think the market will have time to repent. ” Longoni revenue was 2001-2002 (closed in late February) 132 million with an EBITDA of 0.71 million.
Analysts at Nomura Securities maintain a negative opinion on STMicroelectronics, due to weak demand for hi-tech, cutting the deficit in the face of costs and exposure to the dollar (more than 34% ). It does not help the relationship with Nokia, the largest customer of STM (19% of turnover comes from the Finnish company). The broker maintains a Sell rating and a target price of 17.9 euros on STM, awaiting the quarterly results to be announced on 23 July.
The French mobile phone market has experienced in the second quarter, an increase of 1, 3% of his clients who were more than 500,000 in the previous three months. The complexity users Bleus using the mobile phone are 37.8 million. And ‘this is the most important fact which emerges from the artist’s research, the authority that regulates the telecoms in France. The penetration rate of mobile telephony, on 30 June, reached a rate of 62.7%, compared to 62% of the initial three months of 2002.
Round coaster for France Télécom. Having peaked intraday 15.80 euros, the title of the phone giant has fallen to a height of 14.5 euros, which was an decrease of 5.15%. The eighth week ended with a rise of over 50% thanks to strong coatings on the title and the rumors of a re-nationalization, later disproved, but also of State intervention through a soft loan or bond issue by 15 billion with total state guarantee.
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%).
with increasing insistence circulating the news of ceesione of Edgar Davids to Rome. The president Franco Sensi has partially confirmed the OCE. The company’s stock has Capitoline, consequently, an increase of 6.68% to 1.96 euros. If the deal seems to Rome ended in the house, across the Tiber Lazio no longer seems willing to sell Alessandro Nesta Inter. A choice that tarder stock penalized: the title Biancocelesti closed the session in fall of 2.9% to 0.923 euros. Slight increase in the trend of today’s title Juventus, the third Italian team listed company, which completed his trade at 2.15 euros, or 0.66% higher than yesterday.
enter the good news for Fiat. After yesterday’s downgrade by Moody’s, analysts at Merrill Lynch confirmed the rating “buy”. The U.S. investment bank, valuing the Ferrari between 2.37 and 2.5 billion, has set a target price of 22 euros for the Lingotto by calculating the sum of its parts.
The news came from the United States late on Wednesday on the U.S. giant WorldCom has admitted to having made up the budget for an amount of 3.8 billion dollars and is now at risk of bankruptcy has undermined the lack of confidence that the rebound in European markets showed yesterday and drove back to selling by all sectors. A quick recovery, however, led the final Mibtel to close down, 1, 18%. The exchanges have pushed downwards especially banks that may be involved in the case of Worldcom. First of Banca di Roma and BNL, although the latter has denied. Denials has been voiced by Sanpaolo and IntesaBci. Deep red for Pirelli, always suffered from a second black day of Pirelli Real Estate, Olivetti, STM, Bipop and Mediobanca. Recovered instead toward equality in the end titles of the galaxy Eni. Positive Mediaset, Ras and IntesaBci. In rewriting the title Seat. Seat rumors were circulating about a possible sale of the Yellow Pages division in order to raise cash. A Piazza Affari have pursued other indiscretions, particularly on the supply to Mediobanca 35% of Ferrari. Just the board will meet tomorrow to Fiat, which owns 90% of Ferrari, and an executive committee of Mediobanca, which in all likelihood should evaluate the operation.