Posts Tagged euro
European stocks at the stake, all in sharp decline
M. Stanley and ‘underweight on Alcatel, target drops to € 3
Morgan Stanley has cut its price target on Alcatel, ranging from 4 to 3 euros. The recommendation on the title remains Underweight. Recent announcements suggest a further weakening of business in the United States, with profits warnings from Nortel, Tellabs and Lucent Technologies. Also has concerns about the short-European markets. At this moment, Alcatel is trading at 3.14 euros (-6.27%).
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Paris: Axa collapses at the opening of the market (-8%)
Starting day under a storm of sales for the title of French insurance giant Axa, which leaves the Paris stock exchange on the ground more than 8% passing from hand to 10.35 euros. The cause of the crash is that S & P has put osservazine bad debt of its subsidiary reassicurazione.
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Lagardère: biannual positive thanks to the media industry
Semiannual brilliant Lagardère. The French giant has indeed achieved a consolidated level, revenues amounted to 6.475 billion euros, up by 3.1% compared to half of 2001. The results of the group has weighed positively the excellent performance of the sector average, with Lagardère Media, which registered a turnover of 3.905 billion euros, up 7.6% over the same period last year, corresponding to 60% of turnover overall group. A ParisBourse Lagardère is rising by 0.68% to 37 euros.
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CSFB and ‘overweight on banking stocks in Europe
CSFB has maintained an Overweight opinion on the European banking sector, with a prefernza particularly for English and French lenders. The assessment is based on expectations of an economy in trouble, but far from the possibility of a recession. Interest rates should remain stable in the U.S. and fall by 50 basis points in Europe. The preferred stocks are Banco Popular, HBOS, Lloyds TSB and Societe Generale.
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Thud of Allianz, touched the levels of ‘92
Collapse unprecedented Allianz. The title of the German insurance giant is in fact leaving on the ground slipped almost 9% to 100 euros, levels not seen since December of 1992 off. Allianz is accusing the news that will help the U.S. subsidiary Fireman with 750 million euros in order to create reserves for environmental risks related to asbestos. Rumors also that the bank HVB Group intends to divest its 4.6% holding in the company.
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UBS upgraded to hold Danone, target drops to € 105
Analysts at UBS Warburg has raised its recommendation on the food group Danone, raising it from Reduce to Hold. The broker expects a recovery in sales and believes in the possibility of a buyback by the company. The price target on the title, however, is lowered from 125 to 105 euros. Right now, Groupe Danone is traded at a height of 126.20 euros in Paris (-0.71%).
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Profit taking on Mediaset
Take the profit taking on the title of the company led by Fedele Confalonieri. Mediaset is in fact losing slipping 3.26% to 7.30 euros after the increases of recent days following a positive half-yearly and positive views expressed by Lehman Brothers and SSB. We should also mention that today UBS Warburg downgraded some of the industry giants like WPP and Havas.
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Asset management in the storm
Heavy decline for the sector asset management. The news is not positive just arrived yesterday evening from the Beige Book on the health of the U.S. economy are weighing on Fideuram, which is declining by 3.48% as slipping below 4.70 euros, but also on Mediolanum (-3, 67%) to 5.19 euros and Fineco (-2.49%) to 0.49 euros.