The banking sector started the day badly on the price lists of the Old Continent, after the bad end of Wall Street in the session yesterday. The titles that suffer most are ABN Amro (-4.20%), BBVA (-2.67%), Bsch (-2.61%), Credit Lyonnais (-2.50%) and BNP Paribas (-2, 33%). Deutsche Bank also bad (-2.02%) and Societe Generale (-1.90%).
While the Milan Stock indices remain on the line of equality under the Tod’s is going up by 1, 34% to 46 euros. The title is a favorite of the luxury sector for investment bank Merrill Lynch.
finance | admin | March 10, 2010 | 
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The rebound last Friday was just a distant memory in the first session of this eighth and the Milan Stock Exchange index closed the trading Mibtel fall by 0.31%. Particularly bad day for banks, but not for all, and asset management. Among the worst IntesaBci, for which there have been rumors of a possible exposure to the U.S. giant Merck. Same fate for Mediolanum, Bipop and Fideuram while Title BNL has sailed upward. Sales have ditched Alitalia and Enel on the item that the government could decide to go down in the capital of the two groups filing its shares. To penalize the airline was also the capital increase. The profit taking has also hit the luxury sector, Bulgari notably, Claire Kent, the luxury guru at Morgan Stanley, has declared that the findings reached by the securities industry will make it interesting again. Among the titles that have passed the test in positive, there were Saipem, STM, Ras, Alliance and Highways. Benetton also did well and Banco Popolare di Verona e Novara.
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.
Final Rush to Lingotto. Fiat is going up 6.30% with the title changing hands at 12.85 euros, most of the session, and volumes in line with the daily trading. Very well Mediobanca: +3.9% at 9.39 euros. Yesterday the bank headed by Vincenzo Maranghi won 34% of the Ferrari (owned by 90% by Fiat).
The heavy downhill race of the Milan Stock Exchange (Mibtel -2.44%) overwhelms even the titles of the banking sector. Sales are then cut down Sanpaolo, which yields 3% to 9.5 euro, to BNL -3.17% to -2.51% and Montepaschi the same title as Unicredito -1.73% to 4.42 euros the favorite market experts within the group of banks.
Banco Popolare Verona e Novara was rewarded with Eptasim, which raised its rating to accumulate “to” buy “after the completion of the agreement for the sale of property, whereby the bank will inscribe Verona in the budget of 120 million euros in capital gains.
Despite starting the lawsuit requested against them by many Argentine depositors, whose investments in subsidiaries have gone up in smoke, the Santander Central Hispano (SCH) and BBVA are performing in sharp upward result of a technical rebound after the poor performance reported Friday. The first Iberian Institute is thus scoring a gain of 1, 43%, while the bank Basque hours marks a step forward by 2.4% closing a negative series that lasted for three consecutive sessions.
E ’set to increase quickly the number of banks ready to intervene in the operation and the Stock anticrisi Fiat seems to appreciate this approach. But the main thing is the ability of the Lingotto exit the tunnel and keep the car. Paolo Fresco, “The lawyer is better, is within the next few days.” Thursday meeting Cantarella-unions.
