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.
profit taking while the index for IntesaBci Mibtel travels equal to +0.07%. The title of the bank is losing because of John Bazoli the 1, 23% to 3.29 euros. Yesterday, Morgan Stanley has indicated that IntesaBci with Unicredito the title favorite in the Italian banking landscape.
Sitting in the shade for the financial sector of the Frankfurt Stock Exchange, currently in negative terrain. Detaches the thud of Hypovereinsbank, down 4.2% to 50.81 euros. Bad the other banking stocks listed on the Dax: Commerzbank sells 1%, Deutsche Bank, registered a drop of 1, 36% and Dresdner Bank lost 2.02%.
Goldman Sachs revised its ratings on two Italian banks, while the view on the Italian banking sector is geared towards caution. The investment bank raised its rating of Unicredito to previous market perform from market outperform. Goldman has instead reduced the assessment on IntesaBci to market perform from recommended list. The analysts also cut their earnings forecasts for 2001-2003 Action IntesaBci of 2-10% and left unchanged the estimates of Unicredito.
continuation of sales on the blue chips banking Piazza Affari. It appears that some investment funds, mainly motivated American, have contributed to depress the prices of securities alienating significantly. This wave of sales mainly concerns the securities of Banca Intesa, San Paolo IMI and Unicredito Italian. The only Banca Nazionale del Lavoro, in the odor of melting, is doing a good mark up (+2% approximately).
The DAX in Frankfurt closed trading at 7932 points to +3%. The correction on technology has also hit the market in Frankfurt this week has gone up and down with a negative peak on Wednesday. Titles which have been the most volatile semiconductor company Epcos which today scoring 18%, but Siemens has made a deal with Mannesmann in the sector of car components. E ‘decreased slope and finally even the software company SAP. The fix has also involved telephone licenses that together with those related to the Internet had risen much in recent weeks, Deutsche Telekom has been in free fall on Monday, getting off at an altitude of around 70 euros from 100 last week. Negative trend for Dresdner and Deutsche Bank, while Munich Re and Hypovereinsbank rose on news of an imminent agreement. The move, the first in the banking sector after the merger of Deutsche and Dresdner, had been widely anticipated by the market. Accomplice ’s agreement was once again the insurance company Allianz.Debutto disappointing for Lycos Europe, which fell below the placement price even though the license was signed thirty times the offer. Of note also finally Agreement EM.Tv who managed to win 50% of TV rights to Formula One and motor racing.
Banco Santander has completed the offensive strategy for the online market, seeking to counter the growing network of direct competitors BBVA, with UnoFirst Group. The transaction will be through the operational integration of its Filali Open Bank that operates in Spain, Santander and the German Direct Bank. The merger of two banks will form the basis for launching a financial supermarket anywhere in Europe and Latin America will be used Patagonia (financial portal whose Bsch has gained 75% last week) in conjunction with Open Bank. The union of the two European divisions will be completed by the summer and will debut on the stock exchange by 2001. The development in e-banking Spanish Institute would then be completed with the addition of a multinational telecommunications. Is already talk of Vodafone and Telecom Italy as possible candidates. The title of the Spanish bank recorded a rise of 1, 9% and is currently traded sull’Ibex35 to 11.8 euros.
The title of the Institute of Turin in Piazza San Carlo is now dealing a significant gain after a series of losses that they had extremely depressed the stock. “Maybe the title is bouncing on the basis of fundamental valuations,” said Marcello Zanardo, banking analyst at Dresdner Kleinwort Benson in London. “Our recommendation is buy, with a target price of 20 euros.” San Paolo Imi currently earns 4.66% and is worth 14.95 euros.
Departure in the red for the securities of the banking sector with losses of Piazza Affari 1 to 2%. Sanpaolo drops, 1, 80% at 11.84 euros, loses 1 IntesaBci, 25%, Banca di Roma BNL 1% and the 1, 65%. Resists instead Unicredito (-0.27%) to receive the news of the arrival of Carlo Salvatori chair of president of the institute.
BNP Paribas and Societe Generale are in sharp rise at midday, with both securities exchange at the highest levels of the last 12 months benefiting from purchases made on a phase of consolidation in the banking sector. BNP Paribas salt, 1, 88% at 59.50 euros, while Societe Generale surplus of 2.52% to 79.45 euros. In fact, the rumor that one of the two French banks would wish to pursue a merger with Dexia eased in recent weeks. However, yesterday, the chairman of Deutsche Bank, Rolf Breuer, has revived the rumors of a neighbor saying that soon there will be consolidation in Europe to a major merger.
