Crespi, active in the production of plastics and composites, announced the repurchase of 25% of Orsa Foam, a company already held 50%, which produces polyurethane foam. The transaction amounts to 2.7 million. 25% of the company will remain in the hands of Recticel, a multinational leader in the field of polyurethanes for the automotive market. Title Crespi halls of 2.77% to 0.977 euros.
After completing the purchase of 50.8% of Bouygues Offshore, Saipem announced it had filed with the control bodies of the French market, the prospectus for the tender offer the remaining shares in Bouygues Offshore in the hands of the public. The offer price is 60.08 euros per share.
It ‘was a black day for the giant Vivendi Universal, one of those who enter the annals of scholarship. The title at the end of trading, and several suspensions for excessive decline, has lost 26.78% to 17.50 euros. Of great importance also the volumes of trade, of the hand are in fact passed 53 million pieces. One operator has reported that during the day were placed in the circuit computerized sell orders for a minimum of 50 thousand at a time. The day started badly with the news that its chairman, Jean Marie Messier, has decided to resign because now discouraged by the Board. Not only that Moody’s has decided to revise downward the assessment of long-term debt, calling garbage. But the worst came in the early afternoon, when the press trans questioned the correctness of the accounts of Vivendi. All these reports together have literally collapse tiotolo and the market has created a panic selling genaralizzato. Damage there are also around Europe, especially on the French banking stocks on suspicion of their financial exposure.
Tags: Bank, banking, debt, euro, euros, financial, market, New, report, reports, stock, stocks, trading
Deutsche Bank has started the coverage on the major phone operators in Europe, now that valuations have returned interesting. The current price levels are close to those of 1997, before the boom in mobile telephony and the liberalization of European markets. The German broker prefers shares with defensive characteristics, including Telecom Italy (buy with a target of 10.5 million), BT (buy, target to 305 pence), Royal KPN (buy, target to 5.5 euros) and Telefonica (buy, target to 12.3 euros).
Tags: Bank, euro, euros, Italy, Lev, market, markets, mobile
While dizzying market rumors about the resignation from the leadership of Jean Marie Messier of Vivendi Universal the classic game of the chairs already set in motion. According to press reports the most likely candidate to replace Messier leading the media giant, it would be Jean-René Fourtou who currently plays the role of vice president of pharmaceutical company Aventis. To support her candidacy would be Claude Bebear, the honorary chairman of the insurance giant Axa, which had been exposed in the past to find an alternative solution to Messier at the head of Vivendi. The appointment of Fourtou, as they say in Paris, is also supported by American stockholders, led by Edgar Bronfman (representing the former owner of Seagram family of the same name), which manifetsano openly their disapproval at the conduct of Messier.
The influential British newspaper Financial Times, via the Lex Column, remains somewhat skeptical about Fiat plans to resolve the budget difficulties. The passage of a 35% share of the subsidiary’s Ferrari in the hands of Mediobanca should sound like good news for the assessment assigned to the company from Maranello (2.4 billion euros, with a rating twice according to Porsche Report EV / sales). Ferrari – Lex continues – will appear to the market as a company of luxury, although the merchandising activities to date, registered a turnover of just 18 million. The entry of Mediobanca Ferrari then, that will happen at a price so high, can be justified only by the desire to re-establish closer relations with the Turin carmaker, with a return to the old logic of “lounge”.
Tags: British, company, euro, euros, financial, Lat, market, New, rating, report
After the tragic meeting yesterday linked to the scandal of WorldCom, the Tokyo Stock Exchange closed the session up 1 day, 86% at 10,261 points, while the Topix scored a step forward at 0.99% to 994.05 points. Good response of technology stocks, with Sony in particular has gained 3.79%, although many analysts have confirmed their fears about the future because of general weakness of the markets and the dollar.
Tags: analyst, Dollar, exchange, market, markets, stock, stocks, world
“Although the markets are so violent in the impulse bearish, this is not panic.” E ‘lapidary Robert Baron, CEO of Deltaforex. “The setting remains structurally bearish and our first target is placed in area 25800-25500 points Mib 30, where we make further considerations for understanding the future movements. The dynamics of medium-long period is at present set to fall again and I’m not surprised to see the index to lower levels of our first targets, “concludes Baron.
Liberty Media is trying again and this morning there is circulating the news of a possible new offer on the cable division of Deutsche Telekom. How to tell who dies is affected. “John Malone is an entrepreneur experience,” said James Enck, an analyst at Daiwa Securities has issued on the German telecoms operator underperform rating, “knows the European telecommunication market, knows when to intervene: the expected difficulty of the company to knock on the door. E ‘fell back into play in the moment of worst crisis of DT, in order to obtain a discount on cable. On the other hand, knows that Ron Sommer, the company needs liquidity. ” Four months ago the German autority had refused the offer from 5.5 billion euros made by American tycoon. “Today things have changed,” the analyst continued, “I predict that the new supply of Liberty fluctuate in a range between 2-3 billion euros.” “We must take into account”, then concludes Enck, “that Germany has a high penetration of PCs, but is poorly developed in the market for cable TV. Malone might then find a little busy and profitable business.”
Tags: American, analyst, business, company, crisis, euro, euros, Germany, Lat, market, New, profit, rating
E ‘immediately panic selling on the major European markets. Everything, unfortunately, as expected: the CAC careens down the street and leaves 3.9%, Frankfurt marks a decrease of 2.8%, while the Footsie charge a failure of 2.06%. Major crisis in the SMIC also showing a loss of 4.87%.