Portugal envolvido em nova fuga de dados. Mais de 16 mil milhões de passwords expostas

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Philips, Aegon May Gain on U.S. Growth: European Stocks Outlook
June 1 (Bloomberg) -- Royal Philips Electronics NV, Aegon NV and ING Groep NV have been among the year's worst-performing European stocks as the dollar slid to a record against the euro. The same companies may rally this month as economists increase their forecasts for U.S. economic growth.

``We've been buying European companies that sell their products in the U.S. on expectations that the economy will grow faster than Europe in the second half,'' said Jaime Hoyos, who helps manage $515 million at Indosuez Fondos SA, a unit of Credit Agricole SA, in Madrid. He recently bought shares of SAP AG, a business-management software company with a quarter of sales in the U.S.

The Dow Jones Stoxx 50 Index rose 2.7 percent last week, buoyed by signs the pace of growth in the U.S. is quickening. Aegon, Philips and ING, which all get at least a quarter of their sales in the U.S., led the advance, rebounding from declines during the first three weeks of May. The Stoxx 50 fell 0.1 percent last month.

An interest rate cut this week by the European Central Bank, which is predicted by economists surveyed by Bloomberg News, may also weaken the euro against the dollar by making deposits in the currency less attractive to investors. That may give export stocks a further boost, by increasing the value of their dollar sales.

Munich Re and Cable & Wireless Plc, which both have U.S. sales, and Boots Group Plc are among European companies reporting earnings this week.

Eleven-Month High

Signs last week of an economic rebound in the U.S. may make it harder for investors to shun European companies that make money in the region's largest export market. The U.S. Standard & Poor's 500 Index rose to an eleven-month high on Friday, lifted by reports of increased home sales, consumer confidence and manufacturing.

On Thursday, the U.S. Commerce Department said the world's dominant economy expanded 1.9 percent in the first quarter, more than the 1.6 percent it previously indicated. The U.S. National Association of Manufacturers on Friday forecast that gross domestic product will expand at a 3.8 percent annual rate in the final three months of the year.

``Recent data from the U.S. indicate that the economy is about to recover,'' said Christoph Lampert, head of the German equities business at Citigroup Inc. in London.

Dollar's Drop

On Monday Munich Re, the world's largest reinsurance company, may report a loss of 175 million euros ($206 million), according to the average forecast of eight analysts surveyed by Bloomberg News.

Munich Re owns American Re, which generated gross premiums of $5 billion in 2002, according to American Re's Web site. Munich Re had gross premiums of 40 billion euros in 2002, according to its annual report. The shares surged 12 percent last week, trimming the loss this year to 20 percent.

The dollar has lost 10.8 percent against the euro in 2003. Philips, Europe's largest consumer-electronics maker; Aegon, the biggest Dutch insurer; and ING, the Netherlands' No. 1 financial- services provider, have all said the weaker currency has cut U.S. income.

Philips, Aegon and ING all rose at least 5 percent last week. Philips, which gets 30 percent of its sales from the U.S., was down 10 percent this year before the gain. Aegon has fallen 32 percent this year and ING has declined 16 percent.

The U.S. currency had its biggest gain in eight weeks against the euro on Friday, strengthening to $1.1784 per euro in New York, up from Tuesday's record low of $1.1933 per euro.

Dimmer Outlook

``Having been concerned about the currency, now we're wondering whether it has been overdone,'' said Jeremy Knight, a fund manager at Legg Mason Investors in London, whose holdings include shares of Philips.

The outlook for economic growth in Europe is dimmer. French unemployment rose to the highest in almost three years in April, a report showed Friday. The German, Italian and Dutch economies, which together make up more than half the euro region's gross domestic product, contracted in the first quarter.

The Stoxx 600 Index advanced 2.8 percent last week, led by computer-related stocks including Infineon Technologies AG. Lambert recommends technology shares because ``they are among the first industries to profit from a recovery.'' Infineon, a German semiconductor maker that gets about a fifth of sales in the U.S., climbed 15 percent.

ECB's Decision

All 32 economists surveyed by Bloomberg News expect the ECB will cut its main refinancing rate from 2.5 percent when its 18 policy makers meet on Thursday. Twenty expect a reduction of 50 basis points and 12 forecast a cut of 25 basis points. A basis point is one one-hundredth of a percent.

``We are still bullish on Europe,'' Ben Funnell, a European equity strategist at Morgan Stanley, said in a note to investors. There are ``plenty of reasons to think that we have had the bulk of the move in the dollar for now.''

The Bank of England is also scheduled to announce its interest rate decision on Thursday. Thirty-two out of 38 economists surveyed by Bloomberg News expect the U.K. central bank to wait beyond June before changing rates.

Last Updated: June 1, 2003 03:14 EDT

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Bush Backs `Strong Dollar,' Calls Currency `Devalued' (Update1)
May 31 (Bloomberg) -- President George W. Bush said he supports a ``strong dollar,'' and expects to see it rise in value as the U.S. economy grows.

``The policy of my administration is for there to be a strong U.S. dollar,'' Bush said in a Washington interview Thursday with Russia's RTR TV that the White House released today, ahead of the president's arrival in St. Petersburg on the second leg of a trip to Europe and the Middle East. ``The market, at this point in time, has devalued the dollar, which is contrary to our policy.''

Comments by Treasury Secretary John Snow this month that the dollar's 21 percent decline against the euro in the past year was helping exports prompted investors and economists to say the U.S. has scrapped its eight-year strong-dollar policy. Bush told reporters Thursday he would ``reiterate our strong dollar policy'' at tomorrow's Group of Seven finance ministers meeting.

That helped drive the dollar to its best gain against the euro in eight weeks yesterday. The U.S. currency ended New York trading at $1.1784 per euro, up from Tuesday's record low of $1.1933 and paring the European currency's gains against the dollar this year to about 11 percent. The euro's gains have made European exports more expensive, crimping profits for European companies while making U.S. products cheaper to buy overseas.

Michael Malpede, senior foreign exchange analyst at Refco Group Ltd. in Chicago, said Friday that Bush's renewed commitment to a strong dollar may help the currency strengthen to $1.15. There has been ``a substantial move down in the dollar in a short period and rhetoric may force at least some pause,'' he said.

Bush will attend the annual summit of leaders of the most industrialized nations starting tomorrow in Evian, France.

``The marketplace is making decisions as to whether the dollar should be strong or not,'' Bush said in the Russian television interview. ``Our policy is a strong dollar. And we believe that good fiscal and monetary policy will cause our economy to grow, and that the marketplace will see a growing economy and therefore strengthen the dollar.''

Snow said May 17 that the dollar's drop in value had been ``fairly modest.''

Last Updated: May 31, 2003 11:58 EDT

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.S. Stocks Rise, Lifting the S&P 500 Index to 11-Month High
May 31 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poor's 500 Index to its sixth weekly gain in seven, after surveys on Midwest manufacturing and consumer confidence boosted optimism the economy is reviving.

AOL Time Warner Inc. advanced after the largest media company said it will repay debt with $750 million from a legal settlement with Microsoft Corp. Home Depot Inc., the No. 1 home-improvement retailer, rose on plans to repurchase as much as $500 million of its shares and spend $4 billion on new stores and improvements.

The S&P 500 added 13.95, or 1.5 percent, to 963.59, an 11- month high. The Dow Jones Industrial Average gained 139.08, or 1.6 percent, to 8850.26. The Nasdaq Composite Index jumped 20.96, or 1.3 percent, to 1595.91, its highest close since last May 31.

``The economy is showing signs of rebounding and earnings will follow,'' said Peter Boockvar, market strategist at Miller Tabak & Co. ``You could see north of 9000 in the Dow and 1000 on the S&P 500 before we top out. People are buying the dips.''

Stocks extended gains after the National Association of Purchasing Management-Chicago's factory index rose to 52.2 in May from 47.6 in April. Readings above 50 indicate that business is improving. Analysts surveyed by Bloomberg News had forecast 49.

The survey suggests the economy is gaining momentum in the wake of the Iraq war. Since March 11, the S&P 500 has rallied 20 percent and the Nasdaq has soared 26 percent.

Monthly Gains

The S&P 500 recorded its third straight month of gains, the longest streak since the fourth quarter of 2001. It added 5.1 percent in May, led by McDermott International Inc., Nvidia Corp. and Avaya Inc. All three have surged more than 60 percent.

The Dow average rose 4.4 percent in May, and rounded off its fourth weekly advance in five. The Nasdaq jumped 9 percent this month and completed its fourth straight month of gains, the longest stretch since December 1999.

Friday, more than three stocks rose for every one that fell on the New York Stock Exchange in the broadest rally since Jan. 2. Nine gained for every four that dropped on the Nasdaq Stock Market.

Almost 1.7 billion shares traded on the Big Board, an 18 percent increase over the three-month daily average. Some 2.2 billion shares changed hands on the Nasdaq, marking the busiest trading in more than half a year.

AOL Advances

AOL Time Warner rose 37 cents to $15.22. The company, with $26.3 billion of debt at the end of last quarter, had accused Microsoft of illegally dominating the Internet-browser software market and shutting out its Netscape Navigator program. Microsoft added 21 cents to $24.61.

Home Depot gained 93 cents to $32.49 after announcing the buyback and plans to spend $4 billion on new stores, renovations and other programs. It has a market value of $74.5 billion.

The University of Michigan's April consumer confidence index rose to 92.1 in May, its highest in a year. The index was at 86 in April.

A Commerce Department report showed personal spending slipped 0.1 percent last month, compared with a 0.1 percent gain expected by economists in a Bloomberg News survey. Still, the March number was revised to an 0.8 percent rise from 0.4 percent previously.

``Overall, it was better than expected,'' Miller Tabak's Boockvar said.

Molex Inc. had the biggest advance in the S&P 500, rising $2.57, or 10 percent, to $27.37. The maker of electrical and fiber- optic connectors is cutting jobs and said sales in the fourth quarter ending June 30 will be at the higher end of a forecast of $450 million to $460 million.

Nvidia, Novellus

Nvidia, whose chips help run Microsoft's video-game console, added $1.96 to $26.17. Nvidia will benefit from a growing market for chips, UBS Warburg analyst Alex Gauna wrote in a note to clients. He upgraded the shares to ``buy'' from ``reduce.''

Novellus Systems Inc. climbed $2.50 to $34.67, bringing its gain this month to 24 percent. The company, whose equipment etches circuits on computer chips, said it expects second-quarter sales and profit to meet its earlier forecasts. Larger rival Applied Materials Inc. rose 74 cents to $15.56.

McData Corp. added $2.39 to $13.47. The maker of switches for data-storage computer networks posted a third straight quarterly profit and said second-quarter income before some items may top analysts' estimates.

ImClone Systems Inc. rose $5.04 to $28.50. The biopharmaceutical company will present results at a conference Sunday of tests showing that its cancer drug Erbitux is effective, according to Merck KGaA, the German drugmaker working with the New York-based company.

ImClone shares have more than doubled in 2003 after plunging 77 percent last year, following the U.S. Food and Drug Administration's rejection of the Erbitux application.

`Over-Enthusiastic'

Some investors said the rally may fizzle.

``The market is in the process of getting over- enthusiastic,'' said Forrest Mervine, who helps manage $1.2 billion for Philadelphia Corp. ``I don't think we're in a new bull market, but we've definitely seen the lows.'' The S&P 500 will give up some, but not all, of its 9.5 percent gain so far this year, Mervine said.

The S&P 500 has had three rallies of 21 percent each since the bear market began in 2000, only to slump to new lows.

Schering-Plough Corp. fell 45 cents to $18.45. The drugmaker said prosecutors intend to seek a criminal indictment that may include charges of destroying documents. A grand jury is investigating whether its Schering Corp. unit sold misbranded medicines, submitted false pricing data or offered free samples of drugs to customers.

3Com Corp., a maker of computer-networking equipment, lost 59 cents to $4.91. The company expects sales of $165 million to $175 million in the fourth quarter, excluding some operations. Analysts surveyed by Thomson Financial forecast an average $209.7 million on that basis.

Futures, QQQs

S&P 500 futures expiring in June rose 14.10 to 963.30 on the Chicago Mercantile Exchange. June futures on the Nasdaq-100 Index advanced 20.00 to 1199.00. The index, a benchmark for Nasdaq's largest companies, gained 16.07 to 1197.89.

Nasdaq-100 tracking shares, known by their QQQ ticker symbol, added 48 cents to $29.79. The S&P 500 shares known as Spiders gained $1.53 to $96.95.

The Russell 2000 Index of smaller stocks advanced 8.36, or 1.9 percent, to 441.00. The Wilshire 5000 Total Market Index, the broadest measure of

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Fed's Bernanke Sees No Current U.S. Deflation Threat (Update1)
May 31 (Bloomberg) -- Federal Reserve Governor Ben Bernanke said the declining U.S. inflation rate poses ``no immediate threat of deflation in the U.S. economy.''

Inflation might dip to an ``uncomfortably low'' rate of less than 1 percent, Bernanke told reporters after a speech at a Tokyo conference hosted by the Japanese Association of Monetary Economics.

The Fed governor has argued that the U.S. central bank should explicitly state that it wants inflation rates to accelerate above about 2 percent annually. He said he'd personally like to see a rate of 1 percent to 2 percent in the core consumer price index.

Bernanke today said that, given a ``slack economy,'' inflation in the next year or 18 months might slip below 1 percent as measured by the deflator for personal consumption spending, one indicator watched by Fed policymakers. That ''would bring us closer to a range in which deflation might become more likely,'' he said.

U.S. consumer prices fell in April for the first time since 2001, a May 16 government report said. The consumer price index declined 0.3 percent, erasing a 0.3 percent increase in March. The so-called core rate, excluding food and energy costs, was unchanged for a second month, while the 1.5 percent annual rise in core inflation was the smallest since 1966.

Federal Reserve Chairman Alan Greenspan said earlier this month that a ``substantial fall in inflation,'' or disinflation, would be unwelcome. He told Congress that deflation, or a broad decline in prices that is difficult to control, ``is not an imminent danger.''

Fed May Cut

The Fed next meets to set monetary policy on June 24-25. Investors see more than a 50 percent chance that the Fed will cut its target overnight lending rate to 1 percent from 1.25 percent, the lowest in 41 years.

Bernanke said he expects U.S. gross domestic product to grow between 3 percent and 3.5 percent in the second half of this year, with about 4 percent growth in 2004, ``assuming some recovery in capital expenditure.''

The U.S. economy grew at a 1.9 percent annual rate in the first quarter, the Commerce Department said Wednesday, about half the average 3.6 percent pace during the country's record expansion from 1992 to 2000.

``The U.S. economy remains a mixed bag, overly dependent on still smoking-hot activity in the housing sector, even as investment and confidence on the business front continue to languish,'' said New York-based Merrill Lynch & Co. strategists Kenneth Hackel and Rajiv Setia in a research report.

A ``moderate decline'' in the dollar would tend to reduce deflationary pressure, Bernanke said. The U.S. currency rallied Friday, after dropping to an all-time low against the euro Tuesday, after President George W. Bush said he'll express support for a strong dollar at a meeting this weekend of the leaders of the largest industrial nations.

The dollar ended New York trading yesterday at 1.1784 per euro, up from Tuesday's record low of 1.1933. The dollar has declined by about 11 percent this year against the common European currency.

Bernanke is visiting Tokyo to attend the conference. He also met officials of Japan's central bank, the Ministry of Finance and Financial Services Agency this week.

Last Updated: May 31, 2003 06:52 EDT

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TMT: Renascença e PT promovem parceria na Net
2003-05-31 04:30:37

O Grupo Renascença e PT Multimédia anunciaram uma parceria que visa a transmissão de emissões dos canais de rádio da emissora católica portuguesa no Sapo XL.

A parceira visa explorar as potencialidades do nova canal de banda larga da PT, especialmente criado para os clientes de acesso à Internet por cabo e ADSL.

Entre as rádios que participam neste projecto encontram-se a Rádio Renascença, RFM e Mega FM.

Deste modo, a Renascença junta-se à TSF no Sapo, o qual vai ainda permitir ver e ouvir as emissões em directo da SIC, SIC Notícias, SIC Radical, SIC Mulher e Canal 21, bem como aceder às notícias em geral.

O Sapo XL integra ainda um espaço musical dedicado a videoclips e webcast (transmissão) de concertos.

Fonte: Diário Digital

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Finanças: Banco de Espanha avisa sector bancário espanhol
2003-05-31 03:55:49

O Banco de Espanha lançou um aviso quanto à necessidade de os bancos espanhóis conterem os custos e aumentar as cautelas na concessão de hipotecas e crédito.

O banco central do país vizinho considera que este é o momento em que as entidades financeiras devem mostrar-se prudentes, de forma a controlar as contas e a equilibrar lucros e prejuízos.

No seu relatório de estabilidade financeira o Banco de Espanha refere ainda que o nível de endividamento actual das famílias é preocupante e que deve ser pensado nos efeitos a médio-prazo.

A instituição bancária chama ainda à atenção para o endividamento da própria banca, pouco aconselhável no actual estado da economia e no cenário das taxas de juro praticadas.

O banco central de Espanha considera, no entanto, que o comportamento dos bancos espanhóis foi mais positivo do que a esmagadora maioria das instituições bancárias da União Europeia.

Fonte: Diário Digital

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PTC lança novos sistemas ópticos submarinos

30-5-2003 20:22



A PT Comunicações (PTC) anunciou que vai lançar dois novos sistemas ópticos submarinos (o sistema Açores-Madeira e o sistema Madeira-Porto Santo) em Junho.
O novo sistema submarino Açores-Madeira tem um comprimento de 1.174 quilómetros e 15 repetidores com amplificação óptica, possibilitaando a constituição dum anel óptico entre o Continente, os Açores e a Madeira.

O sistema submarino Madeira-Porto Santo dista 84 quilómetros e não tem repetidores. Vai ligar Porto da Cruz, na Madeira, à ilha de Porto Santo.

A instalação marítima da parte submersa vai ser realizada pela Alcatel Submarine Networks.

BolsaPt.com

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Gas Natural desiste da OPA sobre a Iberdrola

30-5-2003 20:33



O CA da Gas Natural acordou hoje, por unanimidade, renunciar à apresentação de um recurso, perante o Ministério da Economia, contra a resolução da Comissão Nacional de Energia de Espanha que vetou a Oferta Pública de Aquisição (OPA) sobre a Iberdrola.
O Conselho de Administração (CA) considera que a apresentação de um recurso não permitiria, de qualquer forma, a realização da operação tal como inicialmente planeada, prolongando apenas uma situação de incerteza, prejudicando o desenvolvimento da estratégia de crescimento e rendibilidade e as relações com as entidades reguladoras.

O CA ratificou o desenvolvimento do plano estratégico, com o objectivo de continuar a liderar o sector do gás natural e a estudar as oportunidades de investimento em Espanha e noutros países. Até 2007, a empresa pretende atingir seis milhões de clientes no mercado de gás natural espanhol e 11 milhões em todo o mundo.

A Gas Natural valorizou hoje 1,94 por cento para 17,33 euros e a Iberdrola somou 0,47 por cento para 14,86 euros.

BolsaPt.com

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Índices americanos sobem mais de 1% com dados económicos animadores



Sexta, 30 Mai 2003 21:18

Os índices accionistas norte-americanos fecharam a subir mais de 1%, após a divulgação de vários indicadores económicos que apontam para uma recuperação da economia. O Nasdaq ganhou 1,33% e o Dow Jones cresceu 1,60%.

O Nasdaq fechou a valer 1.595,91 pontos e o Dow Jones valorizou para os 8.850,26 pontos, em máximos anuais e a culminar a sexta semana de ganhos das últimas sete.

A Universidade de Michigan revelou hoje que a confiança dos consumidores subiu em Maio para o valor mais alto desde Junho passado e o NAPM anunciou que o índice que mede a produção manufactureira na região de Chicago expandiu-se acima das expectativas.

Com os investidores confiantes numa recuperação mais rápida da economia americana, a Coca Cola aumentou 2,44%, a General Motors valorizou 2,31% e a JP Morgan Chase cresceu 1,89%.

A AOL Time Warner disparou 2,63% após ter anunciado que vai utilizar os 750 milhões de dólares que vai receber dum litigio judicial com a Microsoft para pagar dívida.

O american depositary receipt (ADR) da Portugal Telecom (PT) subiu 2,09% para os 7,80 dólares (6,50 euros), enquanto em Lisboa a empresa fechou nos 6,55 euros.

O ADR da Electricidade de Portugal (EDP) avançou 1,52% até aos 21,33 dólares (17,91 euros), enquanto em Lisboa a empresa fechou nos 1,81 euros. Cada ADR equivale a 10 acções da eléctrica nacional.




por Nuno Carregueiro

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ParaRede aprova em AG operação harmónio; Paulo Ramos assume presidência



Sexta, 30 Mai 2003 19:22

A ParaRede, empresa de tecnologias de informação, aprovou hoje em Assembleia Geral de Accionistas, operação harmónio, através de uma redução seguida de aumento de capital, bem como eleição de novos órgãos sociais, disse ao Negocios.pt o presidente, Paulo Ramos.

A ParaRede irá proceder a uma redução do capital social de 50,035 para 25,0175 milhões de euros, por via da redução do valor nominal das acções que o representam, passando cada acção a ter o valor unitário de 0,20 euros.

«Fizemos uma proposta aos bancos credores e estamos à espera de resposta» disse ao Negocios.pt, sem detalhar qual é a proposta, acrescentando apenas que «estamos muito optimistas».

Posteriormente, vai aumentar o capital social para um máximo de 48,0175 milhões de euros, «na modalidade de entradas em espécie resultante da conversão parcial dos créditos detidos sobre a ParaRede pelas sociedades Banif, Finibanco, Banco BPI, Banco Totta & Açores, Banco Espírito Santo, Caixa Central de Crédito Agrícola Mútuo, Central Banco de Investimentos e Banco Comercial Português.

A ParaRede encerrou hoje a subir 5,88%, para os 0,18 euros.

Por Ana Torres Pereira




por Canal de Negócios