France Telecom soars. The title of the phone giant is in fact rising by over 10% returning to 12.30 euro area after the lows recorded last eighth to 8.6 euros. And ‘this morning the report very positive investment bank that issued trans Oddo rated “strong buy” on the title. FT was the subject of rumors of the press in which the French state was ready to nationalization of the company.
“In May, the U.S. stock markets have suffered from extreme volatility determined by the contrasting economic landscape popular with operators who have varied between hopes for stronger growth and disappointments for a slow economic recovery “explain by Union Investment. “Market participants have maintained a conservative approach to investments in equity-data warnings of new terrorist attacks. In addition, more negative news came from the high-tech sector, with Goldman Sachs has lowered its profit forecast for at least 26 companies software. The future is not exactly rosy. ‘And’ We believe that a marked economic improvement will not be possible so soon, “going on for Union Investment. “This also means that forecasts for corporate profits should be more accurate and realistic. We are confident in the latter part of this year imagining a more sustainable growth. At the moment, however, rimanegono underweight U.S. equities in the portfolios resources than our weight given by the MSCI World Index.
The vision of the Italian insurance sector JP Morgan is positive throughout 2002. From the investment bank expects the new business grow more than in 2001. To compensate for the lowering margins there will be some growth in volumes, which could be driven by the expected reform their pensions. At the same time the Italian insurance groups will proceed on the path of consolidation. In this context we talk about the merger of INA and Sim Altinia in the merger of Banca Generali and Rasbank and Ras Investments Sim.
These are times of great turmoil for Pasquale Pistorio and his ST Microelectronics, the French-Italian company specialized in the production of semiconductors. After the bad news announced by U.S. rival Intel, the lock-up expires today of the shares of France Telecom and Finmeccanica. Finmeccanica While there should be no surprises, as the majority of operators, the output of the French nothing is certain. Many people think that the giant trans decides to profit from the investment, mainly because of the enormous debt, despite the price of ST scivolen recorded by the stock exchange.
CSFB still does not believe in the present opportunity ‘for growth of Wanadoo, the leading French Internet service provider controlled by France Telecom. The investment bank, in fact, it reiterated its view on the ISPA trans sell, providing a target price of 2.8 euros, explaining that the Internet sector, which is unlikely to lead in the medium term to ensure a cash flow positive long-term without significant regulation. Wanadoo shares currently change hands at 5.36 euros (-3.60%), in contrtendenza with the trend of the week during which the web society has grown more than 15%. France Telecom, meanwhile, lost in this moment 2.3%, with the shares that are exchanged on the minimum day at 47.35 euros.
The Swiss investment bank started coverage on Cairo Communication with an assessment of hold on the company’s securities listed on the NM. UBS analysts point to a target price of 27.3 euros on Cairo, which at this moment is increasing by 1, 33% to 25.9 euros.
Merrill Lynch has decided to add to her list Highways “Europe 1″, with a 12-month target price of 9.1 euros. The decision comes from the confidence which the American investment bank allocates to management as to the ability to reduce costs associated with the prospect of increased earnings per share average of 9% until 2006. The target price also does not take into account the greatest good that could emerge due to tax savings of the “Tremonti bis”. At this time the title lost 0.75% to 7.75 euros.
The vision of the market remains very cautious. Better sit still and not burn with reckless investments. “We remain underweighted on equities,” said Giuliana Porta, an analyst at Dresdner Albertini, “We are positioned rather than on bonds and cash. There is in fact the fear of negative earnings surprises, and not just the United States. Better positioned then on the defensive, as utilities and pharmaceuticals, even if just on the Italian market. We remain neutral on the headlines instead of negative impact on the financial sector and consumer-related shares, such as cars, and technology. “
reaches new lows on the New Market, heavily hit by profit taking dictated by disaffection with the technology investment. Numtel index loses 2.68% to € 2328 points. A drag downwards price hi-tech are Finmatica, Acotel, Cairo, and Digital eBiscom Bros.
For the British media like the Web United News & Media has revealed its development plans on the network that provide an investment of 370 million pounds over the next two years. The group is about to merge with Carlton Communications and said he wanted to put a part of the unit web bag. United News reported a decline in profits amounting to 279 million pounds from 290 last year.