Merrill Lynch reiterated its positive view of the luxury goods sector, arguing that the pessimism on the outlook for global economic growth has now reached an extreme point. The companies are American’s favorite broker Gucci, Hermes, Tod’s and LVMH. According to Merrill Lynch, the performance of individual companies in 2002 will be placed on the record growth that the Japanese market.
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The sentiment of market researchers remain stable and marked by caution. “We prefer to be cyclical because they are still on the headlines the first to recover when the economic recovery,” said Karim Bertoni, an analyst at Banque Syz & Co. in Geneva, “In general, better to maintain a defensive attitude. The news at the macro level are improving although it remains below the consensus of a few months ago. The only variable is still under pressure on the labor market, which still incorporates always with delayed signs of recovery. The scandals of American companies but increases the degree of stress markets and increase the risk for investors. In general for the coming months we expect an improvement in the average earnings of the company or at least slow down slower than we have seen in recent months. This will bring greater stability in world markets. “
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E ‘a bad time for the rookies. After the flop of Astaldi, followed by Pirelli Real Estate, comes the debut bitter for Enagas, the latest initial public offering of stock in Madrid. The title of the Iberian companies specialized in transporting the gas is in fact losing 6.46% to 6.08 euros.
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Giuseppe Vigorelli, president of Comindustria, and comes out openly in defense of voting capitation was the debate in parliament where he was presented a Bill for statutory change in this particular category of credit institutions. The elimination of the vote capitation, under which each shareholder of this particular type of lenders are entitled to one vote regardless of the share, favorite, second Vigorelli, the concentration in a few hands of these companies at the expense of the economic fabric small and medium enterprises. The position of president of Comindustria coincides with that expressed by the National Popular among banks continued, the notation at the assembly held in Rome on 31 May, in which it was reiterated that “the discipline that has governed so far people’s banks, based on voting per capita and the limits to the powers and possessions of members, is the foundation for their success. “
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It expands the spreads between UK telephone licenses in mid-afternoon, awaiting the financial information to be disclosed by the companies of the sector in the coming days. Vodafone now yields 2.7% at 110 pence, mmO2 advancing by 3.7% to 49 pence, BT backs, 1, 9% at 280.75 pence, Cable & Wireless gains 3.2% to 208 pence .