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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Roberto Camerlingo, technical analyst for Banca Akros, said a market rather critical and highlights the risks involved with current levels. “The Nasdaq Composite closed at 1357.82 points yesterday, one step from the lows of October 1998 (1357.09 points), level from which the markets were set to rise lasted until 2000. Violation of 1357 points would be very negative and projecting the index towards the target of U.S. 1200-1150 points. ” The analyst believes that the next sessions will be critical in the evolution of the dynamics of markets, especially in light of the quarterly will be published soon in the States. Little doubt instead on long-term trend, which remains negative. “I would recommend a very cautious attitude about scholarships at this time. The feeling is that there is still a risk of recession in the United States, corporate profits do not recover and this inevitably affects the performance of the scales. It is quite possible that there could be a summer rally, but this should still be used to reduce exposure sull’azionario.
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“We are approaching a very important Italian market, with a possible test of the 1200 BCI index points (equivalent to 26,000 points Fib), the last bastion before further slippage towards the minimum September. This is the comment of Paul Costanzo, technical analyst for studies and investments in securities. “The current phase is to be monitored carefully and above all we must await the opening of U.S. markets for further confirmation, even if at the time the U.S. futures are scoring strong declines.” The analyst points out the levels of excess achieved many titles now, a symptom of a bearish ferocity that could be close to conclusion. “It ‘can also bet on a turnaround at about 26,000, where there are large volumes in this area and there are encouraging signs from the United States. Such a strategy would be enhanced by the presence of a beautiful candle-level graph, maybe a Hammer, and accompanied by a sharp increase in trade. “
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Titles oil pressured
Mar 8
red marks this morning for the field of petroleum licenses of the old continent. In Paris, Total Fina Elf marks a decrease of 1, 68%, passing from hand to 152 euros. Royal Dutch also bad (-2.75%) and Repsol that leaves at ground level from 3.11% trading at 11.54 euros.
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Milan Stock Exchange closes in red with a Mibtel that left at ground level from 2.20%. Same music for the other European exchanges. He can not stand up asset management, even among the worst titles of sitting there just Mediolanum, Bipop and Fideuram, with Olivetti, Pirelli, TIM and Telecom. Budget in deep red for Unicredito, Sanpaolo and MPS. The same Eni, which had stemmed the losses throughout the day, succumbed to sales on the final. Needless to say, among the worst there are several titles in the New Market, the Numtel has left it on the ground almost 4%. Resisted instead Snam Rete Gas. Well De ‘Longhi qualifying heat spreading out of the bag.
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Sub autombilistico in severe crisis. All the major players, in fact, are reporting huge losses of, having benefited from the technical rebound yesterday. DaimlerChrysler Help the fall leaves at ground level from 2.58% to 47.19 euros. Follow with breathless Volkswagen (-1.53%) and BMW (-1.34%), while Renault is able to contain losses below the alm percentage point (-0.84%). Comes out unscathed, however, Peugeot that, in contrast, is gaining the 1, 31%.
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Pirelli & C has chosen to list the subsidiary Pirelli & C Real Estate at a very favorable for the housing market, “said Patrizio Pazzaglia, chief investment officer of Bank Insinger de Beaufort, who added:” The property, accomplice a weak stock market, have arrived at good levels and this certainly will be reflected on the prices of initial public offerings, with the risk of buying an action which has in-house asset already close to record assessments, which could deflate if market-sharing . I think that we must put much attention to the prices bid and put the title in an already highly diversified portfolio, to avoid exposing too much. A point in favor of the company is managing assets of third parties, which generates revenues from services less exposed to the cycles of the housing market. Yet I still prefer a title like Astaldi “concludes Pazzaglia,” which incorporates a vision of the market positva great works yet to be developed “
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Heavy scoivolone in Helsinki for the tech giant Nokia, with the title of which exchanges at this time to 13.84 euros (-5.66%) after declining in the morning until 13.75, a level lowest since January 1999. The sentiment on the Finnish group particularly affected by the profit warning issued yesterday by the American company Flextronics and many analysts now expect a disappointment from the next update on the quarter of Nokia (scheduled next Tuesday). “He is spreading the fear that the profits of the company recorded a fall and sales are again lower than expected in the current quarter,” said Mark Maunula of Conventum.
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The Fib 30 was taken to a level of support important place in the area 30 thousand points, under which the first target is the area 28mila downward. “This is a technical area important to the Italian list, because of the fact that the base of the trading range in which eight months is channeled our market,” debuts Gabriele Malott, technical analyst studies and investments in securities, adding: “But I would not bet on a rebound with eyes closed, possible but not certain. U.S. lists by poor visibility and certainty: with a dollar so weak there is little chance of renewed strength. Nasdaq at the same time manages to rise strongly, and descend with equal velocity, providing a non-signal to the markets. Ideally at this time would oprare with strict stop loss and very close, “concludes the analyst.
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The office studies Aurel-Leven has issued an opinion to “buy” on the title of the French France Telecom. Analysts also confirmed its presence in the list of favorite titles in Europe. Revised downwards instead the target price, set at 89 euros against the previous 100.