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. “
Posts Tagged world
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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Worldcom does not bring good news for equity markets but it is also true that “the case of the U.S. giant was not a bolt from the blue,” as emphasized by Rosario Giliberti, manager of BNL’s share ownership, ” it was feared that Worldcom might already have problems. The point now is that the air remains the fear that may happen to other cases. If we can come through unscathed, the season of corporate results then there could be a change of trend. Better still still move with extreme caution because the bounces are seen by many as an opportunity to sell. It would take at least two sessions strongly positive to regain some confidence. “
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Siemens is not considered affected by the collapse of WorldCom. The German technology group has, in fact, announced that neither the parent nor the subsidiary Icn are exposed to the U.S. telecoms group. The panic had spread this morning when some of London have announced that WorldCom is the third largest customer of ICN. This news that Siemens would not comment and confirm. At this moment the title is accusing Siemens a loss of 7.94% to 58 euros.
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The alleged accounting irregularities made by U.S. telecoms giant Worldcom are unleashing a panic on the price lists with the Nasdaq has lost nearly 3%, while European stock markets opened the trading day with discounts ranging from -5% -4% in Frankfurt to Zurich to Paris and London. Piazza Affari so open in fall of 2.95%. Sales hit all areas with heavy discounts for STM, Tim, Generali and BNL. Starting to forget even for Olivetti, Mediaset, but also for the new market with Tiscali losing almost 7%.
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Thomas Schmidheiny, Chairman of the Swiss cement giant Holcim (second player in the world behind France’s Lafarge), announced it had assigned the position of chairman of the group to his deputy Willy Kissling. A decision made because of his involvement in the Spanish investigation, in which Thomas Schmidheiny is accused of having purchased shares in a company before its acquisition by another company of which he was administrator. The Swiss giant has, however, stated in a press release that the action does not affect in any way the group Holcim, and that Vice President Willy Kissling will have the powers of an interim president until the position is clarified when the same Schmidheiny.
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“If you go to port operation Verona-Novara starts up again around the world of popularity, open alliances and changes they will see many.” And ‘the claims Gianni Zonin, president of Popolare di Vicenza, estimating that a few years there will be only 4-5 popularity among which that of Vicenza.
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The G7, respecting the expectations of economists, has not discussed a coordinated intervention in currency markets. In a statement only that the seven states agree to provide better prospects for non-inflationary growth in major industrialized countries. They also, although I share the concerns in Japan about the potential negative impact of excessive appreciation of the yen on the world economy, they are not gone beyond vague promises to continue to monitor closely the developments of foreign exchange markets and cooperate as appropriate. According to the U.S. Treasury, Lawrence Summers, the growth in the land of the rising sun, must be supported by domestic demand, that is why, said Summers, I have both the G7 statement is the Japanese authorities “have placed particular importance on structural reforms, particularly in certain sectors such as telecommunications. “
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The British advertising group WPP has confirmed this morning the negotiations with the American Young & Rubicam. A merger would create the largest advertising agency in the world, with customers such as Ford and Citibank. WPP saw yesterday splash actions due to good profits in the first quarter of the year. The title marks the hours +2.94% London Stock Exchange.