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.
Posts Tagged market
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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Analysts at Lehman Brothers raised its recommendation on Alstom, from Market Perform to Buy with a target price of 18 euros per share. The broker also cut its price target for Siemens 60 to 50 euros a share. At this time, the title changes hands Alstom in Paris at 10.72 euros (+1.13%) and Siemens switches to 61.25 euros in Frankfurt (-2%).
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Even the titles petroleum Europeans remain opposed in the early afternoon, in a highly uncertain market environment for the bad news coming from the United States. Upward highlight Saipem (+2.66%), TotalFinaElf (+0.66%) and Shell (+0.1%) and Repsol shares exchanged in the red (-1.45%), BP ( -0.90%), Statoil (-0.72%). Royal Dutch unchanged.
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Milan Stock Exchange is poised to close slightly up at a session in a bit ‘abnormal saw the closing festivities of Wall Street. “Trade today is lower than the average. This is due to the fact that the New York Stock Exchange is closed for July 4th celebration,” confirms Mark Montanari of SocGen. “We underperformed other European stock exchanges because we have a heavy letter on the bank. At the market are not liked the data for the month of June of fundraising.
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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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remains firmly in the saddle the president of France Telecom, Michel Bon, who this morning received another demonstration of confidence by the French government. Meanwhile, the title of France Telecom continues its rise, although this morning the contract was open in the fall of 6%. Now the title of the former monopolist exchange gaining 6.35% to 12.57%. According to market players in the title is the victim of speculative movements, which are now uncoupled from the possibility that the government decides to nationalize the capital.
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Analysts at UBS Warburg have confirmed their positive view on the title of French media giant Vivendi Universal. The advice is to accumulate with a target price of 32 euros. According to UBS if the news of the resignation of Jean Marie Messier was confirmed it would be welcomed by the market.
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Week Important at the Milan and international equity markets. The scholarships will show that it can navigate on sight despite the U.S. financial scandals, last in order of time to Xerox. The recovery indices scored Thursday and Friday, leaving hope for a technical rebound.
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The positive closing scored last night by the Nasdaq this morning says the new markets of the old continent. On the upside the Paris Nouveau Marché mistakes that marks +1.75% to 715 points, well even the German Nemax 50 marks +2.67% to 617 points.