Posts Tagged markets
European telecoms downturn, France Tel shines only
Another bad day for telecoms in Europe, affected by the returns for new fears about the reliability of company accounts and due to persistent weakness in U.S. markets. Licenses are worse today Sonera (-5.51%), Vodafone Group (-4.94%), Tele2 (-4.51%), Portugal Telecom (-4.28%), Cable & Wireless (– 3.92%), Orange (-3.62%) and Telenor (-3.40%). In contrast France Telecom (+4.55%) on speculation about a possible return under the wings of the state.
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The new European markets deepen losses
M. Stanley: “Too much fear (not) to buy”
Jay Pelosky, global strategist at Morgan Stanley, says very concerned about the weakness of the dollar, a real thorn in the side of the equity markets at this time. “The United States will experience low growth in the years to come. Everyone is disappointed by the collapse of stock exchanges, but only now are emerging fears of an excessive devaluation of the dollar, with the risk (for the moment quite remote) of a real collapsing the greenback. Nevertheless, the manager does not seem pessimistic about the future prospects of the equity. “The markets have reached a deep oversold and are going through a phase of high volatility, due to the uncertainty on the recovery of corporate earnings. Overall, the stock is above the minimum in September to just 700 basis points. Trimester in progress, however, should represent a turning point for U.S. companies, with a return to profitability and then to the p / e lower. According to our valuation models, the equity is undervalued by an average of 15% and therefore could be considered rather interesting.
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European stocks: finale in crescendo
The major European financial markets are on track to close the trading day on top of the sitting. To give confidence are both the Nasdaq, which travels upward, and Finland’s Nokia, which thanks to the good prospects for the next quarter has supported the technology sector. Frankfurt rose 1, 87% at 4675 points, Paris marks a rise of 2.06% while the London Stock Exchange is more backward and marks +0.20%. Well also the Madrid Ibex marks +0.90% to 7550 points.
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Tech: M. Stanley raises from underweight to neutral
Morgan Stanley raised the weight of technology in their asset allocation, from underweight to neutral. “The technology is essentially cyclical, and many indicators of the cycle show clear signs of reversal,” says the merchant bank. Among individual sectors, the favorite is the telecommunications infrastructure. The promotion of the sector follows the recent fall in equity markets, which has led to assessments of the most interesting on the whole European landscape. The descent of the scales has been guided by fears, not by corporate fundamentals, which according to Morgan Stanley Europe when the stock is undervalued by 11%.
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New European markets in the sign of weakness
red marks for major new markets of the old continent, which positively affected even slightly bullish signal of future U.S.. In Paris Nouveau Marché loses 1, 08% to 853 points, while the Nemax 50 marks to bag Fracoforte a decline of 0.48% of 801 points. A partial justification are reported lack of specific subjects and low-volume market.
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Polastri: “Uncertainty reigns over mkt”
Moscow: “Exchanges low coupon adjustments”
Round Square with a few ideas for business has to deal with the ex-dividend of many companies (94 ndr.). “The meeting today is characterized by reduced trade,” says Edoardo Mosca of New Investments. “Some European stock markets closed, the adjustments for dividends, fears of new attacks by Bin Laden and the weak U.S. dollar are affecting the start of this week. Prevedible a fix for today as Wall Street, in spite of European markets The last eighth scored a substantial increase.
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Rain purchases in Milan
Day of sunshine on European markets that were soon recovered from the shock of yesterday’s plane crash that hit the United States. World markets reserve every day new surprises to investors. In Milan the Mibtel index thus achieved an increase of 2.73%, outclassed by a new market gain of 4.88%. Leading the rise today because they were primarily the actions of the technology sector and the Nuovo Mercato in Italy was not less with the suspension for excessive upward ePlanet. Olivetti was on the main list to make the lion’s share, in the wake of quarterly expectations due to be published this evening. Budget positive for the rest of the galaxy Tronchetti Provera and particularly for Seat. At the market liked the strategy announced reorganization of the Turin group. Also proven asset management in the wake of Mediolanum. Excellent upward by Saipem in the wake of a brilliant quarter. The common stock of Alliance RNC and instead were suspended from trading pending a statement. Voices speak of a possible conversion of the RNC in stock.
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Scholarships at the start: the care Dax (-0.46%)
Aperture without jerks on the main European markets. He stands on the right foot, which marks a Paris +0.04% to 4494 points, while London and Amsterdam respectively lost 0.09% and 0.13%. Perplexing Frankfurt: a few exchanges and the index is already at a loss of 0.46% at 4838 points.