World

Business market reduces the losses in the final

The FTSE closed at Mib -0.46%, the FTSE All-Share in Italy -0.47%, FTSE -1.22% to Mid Cap Italy, the Italy Star, FTSE -0.51%. Day’s profit taking on the Italian stock market, big-bounce back from the previous session. To pay duty were particularly helpful to banks. MPS Bank (-2.9%) has threatened to undermine all the good achieved yesterday. A closed session of less than 0.9240 euro would in fact given rise to a thrust towards 0.8550, support crucial to prevent the reactivation of the downtrend in the direction of area 0.77, where we find the minimum in March 2009 . Even Intesa Sanpaolo (-2.5%) lost ground. The bank led by Corrado Passera saddle during the day confirmed the rumors according to which press were being traded prior to the American fund Hellman & Friedman for the sale of a minority stake in Banca Fideuram. Impregilo in red (-2.4%) after the decision to downgrade the title to Exane neutral from outperform. According to press rumors the offer made by Impregilo for the construction of desalination plants in Dubai, a project well worth a total of $ 4 billion, would be in second position behind that of Samsung. Italcementi weak (-2.1%), which has lost ground to less test yesterday placed on a minimum of 7.38 euros, a level from which the title was able to react. Any violation of this support would last given way to a deeper towards the bottom on Friday ‘last at 7.0950, with a real risk to assist the annulment of the bounce and subsequent reactivation of the bearish movement active since last October, a towards 6.4250, the minimum in February 2009. Green Fiat (+2.3%) who took advantage of the information offered yesterday by ADI Sergio Marchionne on Chrysler: the American company at current rates could achieve 2010 EBITDA performance than current estimates. Even better, you and ‘the parent acted Exor (+4.2%), whose board has approved the results of the first quarter (31.7 million profit against red 152.8 million a year ago) and co-opted Marchionne inside: the manager will do ‘is also part of the strategic committee of the holding company. Well Bulgari (+2.9%) in the first three months of the year achieved revenues of 199.1 million euros, +12.6% YoY, reducing losses to 8.3 million euros from 29 3. Deutsche Bank raised its target price from 6.2 to 6.9 euros, 10% above present values. Telecom Italy (+2.2%) extended the rally yesterday in the wake of the promotion to outperform from underperform by Credit Suisse decided. According to the Corriere della Sera, the company ‘aim to keep the network deducting only the activities’ maintenance. Terna rising markedly (+1.7%) in the first three months of 2010 revenues rose to 365.2 million euros, +16.2% YoY, while earnings and ‘jumped by 32.9 % YoY to 107.1 million euros. Salt also Mondadori (+2.5%) in the wake of quarterly data. Faced with falling sales at 2.8% YoY, EBITDA ‘rose by 49.3% YoY, with a positive balance of EUR 2.4 million from a net loss of 1.8 million.

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Eli Wads is one of our expert authors in technology and business fields.Currently living in San Marino, Eli has graduated at Southwestern Academy with a Bachelor Degree in business in 2008. Contact him by dropping him an e-mail at Eli.Wads@dailygossip.org

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