BNP Paribas will reduce its presence in Klépierre, which currently owns 61.6%, to settle on a proportion of 30/40%. The transaction should be completed by 2001 would be designed to increase the liquidity of the title, with a view to expanding outside of the group. Title BNP exchanges the negative -4.58%.
Yes Tv postpones listing
Feb 8
English Yes Television was ready to enter the market of 600 million pounds in shares, but decided to postpone the listing due to the uncertainty on High Tech in the stock market. The company said that the present is the worst market conditions for such an operation you could imagine. Yes TV, specialized in interactive services for television, said it will give more details on the placement day.
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Piazza Affari remains in negative zone. The Mibtel index signals a loss of 0.5%, the Mib30 Midex by 0.68% and 0.08%. A push down the price list are titles like Tim, Seat, Mediolanum, Mediaset and Fiat. Gainers instead Olivetti, Tecnost and Enel.
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Sachsenring Automobiltechnik, company pert auto components, has announced an increase of 52% of sales in the first quarter of 2000. Sales reached until March 31 to 79.8 million euros, from 52.7 in the same period last year. The title is segnand +1.71% at the Frankfurt Stock Exchange.
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Finmeccanica has chosen to partner Alenia: will be the consortium EADS (Matra Aerospace, DASA, home) to support, in a joint venture party, the aerospace company of the IRI Group. E ‘was discarded at the last moment and then the other suitor, BAE Systems, despite its revitalization. Crucial to the choice was option granted Alenia to acquire 5% of Airbus, the European consortium of aircraft for commercial transport world leaders next to Boeing.
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Dresdner Bank continues its descent scoring in Frankfurt -3.35%. Today, two managers of the group that had followed Dresdner Kleinwort Benson has left the company as had been mooted in the past days, despite the attempts of groups to hold them. Dresdner appears increasingly vulnerable according to analysts, the attacks by foreign companies and German companies. In particular, attention is focused on Hypovereinsbank and Commerzbank, but always to want to remain independent.
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Arcadia Group, one of the worst companies of large retailers in Great Britain in terms of performance, recorded a loss of gross profits of 8.6 million pounds compared to last year. The company to withstand competition going drastically reduced prices, although sales volumes have not increased. The title marks on the London Stock Exchange down 2.5%.
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Dresdner Bank has finally announced the spin off of Dresdner Kleinwort Benson, its investment banking sector, an attempt, analysts said ABN Amro, to try to keep the group headquarters in of the bank after President and CEO Bernard Walter has left the company. According to ABN Amro is a correct decision, although the investment bank maintains an assessment of sell on the stock. Dresdner has decided to increase bonuses for the current year, an additional burden on staff costs. Addition, the disposal of DKB applied concurrently may not be sufficient to retain executives. Dresdner sale today, 1, 7% in the wake of news of the spin off.
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Euler, ready to debut
Feb 8
Euler, the world leader of insurance-credit, will be introduced at the Paris stock exchange on April 28 and the price range will be between 50.5 and 59.5 euros. The price fixed valorizerà the subsidiary of AGF-Allianz by nearly 2 billion euros will be made available to investors 25% of the capital. AGF will increase from 68 to 51% of the capital.
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“The market sentiment right now is wait,” says Fabrizio Alian, managing shareholder of Italy SimGest, “We are in a mixed, influenced by the high volatility of the Nasdaq that could fluctuate in a range between 4,400 points of maximum and minimum of 3600. European shares follow very closely the development of U.S. technology list. Among European indices the Eurostoxx is in the best position, despite the high proportion of hi-tech titles, while the Mib30 at worst, because the telecoms are the only technology present. Correction imposed to play on individual stories, such as Banca Intesa and Comit, since then the movement of the short bank is likely to continue. We can not speak Sector Rotation and the recovery is still driven by telecoms and hi-tech titles, although they will not move as fast in the past months. The rotation is therefore only temporary and due to a reallocation of portfolios because many funds have adopted a policy of full that we need to get invested in the market. For the future there are two possible scenarios: the first on a quick recovery, the most worrying situation because after massive sales increases can act fast to take profits, while the latter might be a slow recovery and therefore sustainable. In short, the volotilità will continue to be high “.