The European technology sector is moving downward decided today, in the wake of U.S. futures foreshadowing a tough session on Wall Street. Among individual stocks, slip Ericsson (-6.67%), Dassault Systemes (-4.24%), SAP (-4.21%), Alcatel (-3.74%), Infineon (-3.22% ). Down even ASML Holding (-2.80%), Siemens (-1.63%) and Nokia (-1.51%).
Worsening trends in European stocks in the late morning, because of the sales are concentrated in particular on telephone and insurance. At this time, the Dax in Frankfurt yields 2.48% at 3620.75 points, the Paris CAC40 backs of 2% to 3299.34 points, while London slides, 1, 63% to 4158.30 points. Zurich was also lower (-2.18%), Amsterdam (-1.48%) and Madrid (-1.35%).
reducing further the progress of the Milan Stock Exchange, where at the Mib30 index is losing 1, 75%. Marked fall in the securities of asset management and insurance, along with Olivetti, Pirelli and Capitalia.
Tags: exchange, management, stock
“I think the technical rebound led the lists in August, has spent the last two sessions after the negative,” says Patrizio Pazzaglia, chief investment officer of Bank Insinger de Beaufort, opposite to the market the last sessions. “People who bet on a sustained movement begins to think again and operators wonder about what are the titles ‘parachute’ on which point in the next few days. I think that energy, Eni and Saipem in the head, could make good after sales last setimana. The two companies have excellent visibility of earnings and in moments of uncertainty, the market has always rewarded. The only pitfalls for Eni could come from the euro / dollar exchange: the weakening of the greenback, however, is counterbalanced by the high price of oil. An area from which exit could be insurance, after the bad data from Munich Re and Swiss Re are likely rate switch portfolio by insurers and energy to the media, “concludes Pazzaglia.
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In the wake of disappointing half-yearly of the reach of European insurance giants Swiss Re, Allianz and Munich Re, the sector is also in Italy in the storm. Thus Deutsche Bank has cut its price target of Generali 25 to 23.6 euros. According to analysts the half of the Lion of Trieste, which will be announced September 12 next, would then highlight the difficult economic situation.
Seat of suffering for the titles of the Scandinavian mobile handset, hit by declines generalized scored this morning by the sector of technology stocks. On the Helsinki Exchanges under the giant Nokia marks a decrease of 3.19%, passing from hand to 13.55 euros, while rival Ericsson marks the Stockholm Stock Exchange a slope of 1, 54% to 6.4 Swedish kronor.
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Another red mark for the main financial centers of the old continent, is depressed by bad performance yesterday on Wall Street is the first negative signals coming from the indicators to future stars and stripes. In Frankfurt’s DAX 30 marks a decrease of 2.08% at 3771 points, the Paris CAC 40 lost 2.27% to 3489 points while the FTSE 100 in London leaves on the ground for 1, 92% at 4364 points.