Sep 17, 2008
The Cac 40 in lowest since May 2005, saves 4,000 points
What meeting! What volatility! Once again, the magnitude of change in the Parisian market of over 169 points between the two demonstrates the extreme volatility of investors to any news. In increase of more than 1% in early trade, the Paris market has quickly risen to 4.160,26 points before returning test on several occasions the helm of 4,100 points. It will ultimately not be required! Emportée by the stall Wall Street, bad news from industry (Arcelor-Mittal), with American technological Nortel, new doubts on the side of the bank (HBOS confirmed consider a rapprochement with the British Lloyds), the Stock Exchange Paris flanché. However, AIG is saved, Morgan Stanley issued reassuring results but doubts remain, the crisis persists. At the close, the CAC 40 Index falling 2.14% to 4.000,11 points in a significant volume of 7.66 billion on components of the index. At worst time of the meeting, the market fell to 3.990,86 points. In Frankfurt, the Dax lost 1.75% in London, the Footsie fell by 2.25% and Wall Street, the Dow Jones abandons 2.71%. Oil prices leave from the front, a barrel of WTI October delivery stood at 93.79 dollars, up 2.61 dollars compared to its closing levels of the previous day. After two days of plummeting prices of black gold, this movement occurs naturally on the bottom of allaying fears about the U.S. banking sector. It is expected this afternoon the U.S. oil stocks. The greenback is for its part resistant facing the European currency, trading at 1.4149 dollar. On the statistical front, housing starts of housing for the month of August the USA emerged a decrease of 6.2% annualized pace of 895,000 units, far below that of 950,000 units expected by analysts. Compared to August 2007, housing starts fell by 33.1%. On the side of values, Alcatel-Lucent fell by 8.43% to 3.15 euros after the words of Nortel Networks. The United States has reduced its forecast for the third quarter of 2008 and for the full year, due to a decline stronger than expected investment of its major customers. Also attacked, ArcelorMittal stumbles by 7.96% to 39.67 euros. The group announced a plan to reduce costs for a total of $ 4 billion over five years. The plan economies of the world's largest steel producer, will focus on increasing staff productivity, reducing energy consumption and lower production costs, to increase efficiency and d ' improve product quality. " Capgemini won by 7.30% to 32.75 euros. The title suffers from lowering the target over the firm. The intermediary buyer rest of the file but does more than 45 euros against 48 euros. As far as financial values are experiencing mixed fortunes. Dexia lost 5.64% to 8.22 euros while BNP Paribas was down 3.27% to 56.19 euros. The bank has estimated at 400 million its total exposure to Lehman Brothers, including 200 million in net claims arising from derivatives transactions and 180 million corresponding to a bank loan. General Company (-2.86% to 54.37 euros) to evaluate its share to 479 million euros, 76 million of senior debt and 400 million potential replacement on return. Finally, the exposure of Credit Agricole (-2.52% to 11.77 euros) to the bank put under the protection of Chapter 11 bankruptcy is less than 20 million euro for the debt, but 250 million for the risk of replacement counterparts. Outside the index, concedes Natixis 0.4% to 2.49 euros. The capital increase of the subsidiary of Banques Populaires and Caisses d'Epargne ends tomorrow evening. Alstom Hydro, the joint company Alstom and Bouygues has won a contract of 500 million euros in Brazil. The group will provide the electromechanical and hydraulic equipment for hydroelectric power Santo Antônio. The title resists, it concedes that 0.3% to 62.14 euros.
by erectusplus at 11:34 AM |
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