Lehman revised downward estimates on Sanpaolo
Lehman Brothers lowered its price target of Sanpaolo current 10.6 euros from 12.6 euros. Meanwhile, the investment bank has revised downwards its estimates for 2002 and 2003, given the continued weakness of the stock exchanges worldwide and the consequent weakness of asset management. Expected result is far too brilliant for the second quarter of 2002. The trial remains on the license market perform. At Lehman Sanpaolo expect to net income of 1.231 million for 2002 against a previous estimate of 1.513 million (in 2001 the profit was 1.388 million of euros). Even the 2002 EPS was lowered to 0.66 from the previous 0.81.
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De Agostini, 2001 to 1.17 billion revenue
De Agostini has closed 2001 with consolidated revenues of 1.17 billion euros (+2.5%) and a net profit of the Group of 42.9 million after depreciation and amortization 31.7 million . The net financial position shows a positive balance of about 1.55 billion down from 1.9 billion at the end of 2000.
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Tim and Telecom on the minimum, Jun ‘Olivetti
minimum day traveling on the two operating companies of the group Olympia. Tim is leaving the field to 1, 82% with the title changing hands at 4.10 euros, while Telecom Italy is a decrease of 2.43% trading at 7.83 euros. In sharp drop also the holding company of Ivrea: Olivetti is in fact losing 2.73% to 1.0680 euros. European players in the red even with Deutsche Telekom which yields 2% and France Telecom is down 4%.
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Titles mean the worst in the DJ Eurostoxx
In a DJ Eurostoxx all red are the titles of the media sector to lead the worst performance with an overall decrease of 6.11%. To weigh the uncertainty of course is to breakthrough the difficult position of Vivendi Universal (-16%) especially after Mody’s has downgraded its debt to junk the long term. Sales also hit: Sogecable losing 0.26%, Mediaset (-0.66%), Lagardere (-2.03%). In negative terrain, with losses even more severe, browsing the rench TF1 (-3.43%), Publicis (-3.98%) and Havas, which marks -3.46%.
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Registrations falling, Peugeot and Renault in the red
red sign for the two protagonists of the French car market, hit by bad data on registrations transalpine the month of June. Last month, in fact, the French market has witnessed a 10% drop in registrations of new cars over the same period last year. Peugeot at the Paris stock exchange marks a decline of 0.29% to 52.4 euros, while the title of the rival Renault marks -1.06% to 46.85 euros.
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Alitalia-Air France, the ax strikes Mountains
Do not come good news for Alitalia. The EU Competition Commissioner Mario Monti to Air France and the airline announced a letter of serious doubts about the possibility that the cooperation agreement concluded by the two airlines will be served in its current form. For Brussels agreement substantially reduce competition on some key routes between France and Italy.