Ao minuto: EUA atacam Irão. MNE iraniano diz que país "reserva todas as opções" para se defender

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Negócios: ABB vende filiais na Escandinávia
2003-07-06 10:57:08

O grupo ABB vai vender as suas filiais ligadas à actividade de técnicas de construção à finlandesa YIT por 233 milhões de dólares. A verba servirá para reduzir a dívida da empresa.

A YIT comprará as filiais da ABB na Suécia, Noruega, Dinamarca e Finlância, embora o negócio ainda necessite da aprovação das autoridades da concorrência.

Naquelas empresas trabalham cerca de 9000 pessoas e a facturação, em 2002, foi de 1100 milhões de dólares.

Fonte: Diário Digital

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Mercados: Greve no sector petrolífero da Nigéria vai continuar
2003-07-06 10:49:18

O greve dos trabalhadores do sector petrolífero da Nigéria vai continuar depois de as conversações entre os sindicatos e o governo terem falhado. Os trabalhadores estão contra o aumento de 50% do preço dos combustíveis decretado no mês passado.

Os líderes do NLC (central sindical nigeriana) rejeitaram a última proposta do governo, que previa um aumento de 35%. Por isso a greve, iniciada há uma semana, vai continuar. Os dirigentes sindicais afirmam que a paralisação só acabará quando as autoridades fixarem um preço aceitável para os combustíveis.

O governo da Nigéria quer aumentar os preços para, entre outros objectivos, evitar o contrabando de combustíveis para países vizinhos.

O país, um dos que George W. Bush vai visitar no âmbito de uma digressão que fará por África, é o oitavo maior exportador mundial de petróleo.

Fonte: Diário Digital

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Conjuntura: Solbes admite crescimento da zona euro abaixo de 1%
2003-07-06 10:35:09

O comissário europeu dos Assuntos Económicos, Pedro Solbes, admitiu no sábado, em Itália, que o crescimento da zona euro em 2003 poderá ser de apenas 0,7%, ficando abaixo das previsões oficiais que apontam para 1%.

Para o comissário, tudo vai depender da evolução da economia da zona euro nos terceiro e quarto trimestres mas o crescimento poderá mesmo ficar-se pelos 0,7%. Em Abril, a Comissão Europeia reviu em baixa as suas previsões para o PIB, que passaram de 1,8% para 1%.

Solbes afirmou que, quando as previsões foram publicadas, a Comissão alertou para a possibilidade de elas poderem vir a ser revistas em alta ou baixa. As declarações do comissário apontam para uma revisão em baixa.

A estagnação económica abateu-se sobre a zona euro no primeiro trimestre de 2003, coincidindo com a guerra no Iraque. Só o crescimento em Espanha e na França tem evitado danos maiores na economia dos 12, afectada também pela valorização do euro. A subida da moeda única penaliza as exportações, fazendo com que sejam menos competitivas.

Fonte: Diário Digital

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TMT: Mercado dos telemóveis no Brasil vai crescer 4,3% até 2007
2003-07-06 10:20:31

O mercado dos telemóveis no Brasil vai crescer, até 2007, 4,35% ao ano, noticia o jornal A Folha de São Paulo citando dados da IDC Brasil. No país existem actualmente 35 milhões de telefones móveis.

Em 2007 o número total de assinantes será de 49 milhões, o que significa uma penetração de 25,4% da população. O pré-pago representará 74% do total de assinantes (actualmente o seu peso é de 72%).

Só em 2002 a base de utilizadores de telemóveis no Brasil aumentou 23,4%.

Fonte: Diário Digital



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Global Stocks Drop on Concern About Slowing Economic Growth
July 4 (Bloomberg) -- Global stocks dropped on concern the pace of a worldwide economic recovery may be slower than investors anticipated last quarter.

Nokia Oyj and Canon Inc. were among shares that slid after a U.S. unemployment report yesterday tempered optimism consumer demand will spur growth in the world's largest economy. The jobless rate rose to 6.4 percent in June, the highest in more than nine years.

The Morgan Stanley Capital International World Index shed 0.3 percent to 883.45 in London. The index tracks the performance of stocks in 23 countries. It climbed 16 percent in the second quarter, the biggest rise since the fourth quarter of 1999.

``There's concern that we've got ahead of ourselves,'' said Christian Jasperneite, deputy head of investment strategies at M.M. Warburg in Hamburg, who helps oversee $9.4 billion. ``If we don't get hard facts about an economic recovery this month, the current share prices can't be justified.''

U.S. stock markets were closed for Independence Day.

In Asia, Japanese benchmark indexes retreated from 10-month highs. The Nikkei 225 Stock Average shed 0.8 percent to 9547.73 in Tokyo, ending a three-day, 6 percent rally.

Canon, a Japanese maker of products such as printers, copiers and cameras, fell 2.7 percent to 5,820 yen. The company gets 70 percent of its revenue from overseas.

The Topix Index lost 0.4 percent to 948.67, with electronics stocks contributing 38 percent of the slide.

Computer Parts

Elsewhere in the Asia-Pacific region, Australia's S&P/ASX 200 Index lost 0.5 percent, paced by News Corp., the global media company controlled by Rupert Murdoch. News Corp. makes three- quarters of its sales in the U.S.

South Korea's Kospi Index added 0.9 percent and completed its sixth weekly advance in seven. Hyundai Motor Co. led gains by carmakers after the government said it will revise its vehicle sales tax earlier than planned, which may lead to lower taxes on some cars.

Taiwan's TWSE Index had its biggest weekly advance in eight months. Computer-related shares such as AU Optronics Corp. and Quanta Computer Inc. rose as some investors bet demand for computer parts will improve.

Thailand's SET Index added 1.2 percent to 495.72, the highest since Jan. 4, 2000. For the week, the benchmark gained 8.4 percent. Stock indexes in Malaysia and Singapore climbed, while those in the rest of the region declined.

``The jobless report was a dampener, and it has probably toned down expectations of a quick U.S. recovery,'' said Wee Ban Yew, who helps manage the equivalent of $2.1 billion at OCBC Asset Management Ltd. in Singapore.

Europe

In Europe, stocks slid for a second week on concern companies will struggle to lift profit as economic growth stagnates. Nokia Oyj and Bayer AG paced declines.

``We are going to have a sticky, difficult summer,'' said Gary Clarke, who manages $1.34 billion at Gartmore Investment Management in London. ``We will get some poor corporate news over the summer and mixed economic news from the U.S. and Europe.''

The Dow Jones Stoxx 50 Index dropped 8.68, or 0.4 percent, to 2392.6, taking its weekly loss to 1.4 percent. The Stoxx 600 fell 0.3 percent to 203.26, for a 0.8 percent decline since last Friday.

Exports account for a fifth of the gross domestic product in the euro region, according to the European Union's statistics office.

Orders to German factories, whose production accounts for about a fifth of Europe's largest economy, unexpectedly fell 2.2 percent from April, the Economy and Labor Ministry said today. A surprise interest-rate cut in Sweden added to concern about the economic growth.

Mobile Phones

Nokia, the world's biggest cellular-phone maker, fell 2.5 percent to 14.10 euros today and 5 percent this week.

Commerzbank Securities cut its recommendation on Nokia to ``reduce'' from ``hold'' on Wednesday, citing concern mobile-phone service providers such as Orange SA will introduce more of their own branded phones.

Bayer, Germany's second-biggest drugmaker lost 0.4 percent to 19.58 euros today, for a 3.8 percent decline this week.

Eight of the 17 Western European benchmark indexes dropped today. Germany's DAX Index slid 0.1 percent. The U.K.'s FTSE 100 Index fell 0.1 percent. France's CAC 40 Index declined 0.6 percent.

MMO2 Plc, a U.K. mobile-phone company, shed 3.2 percent to 53.25 pence after Goldman, Sachs & Co. lowered its recommendation to ``underperform'' from ``in-line.'' The brokerage cited increasing competition. Vodafone Group Plc, the world's largest mobile-phone company, slipped 1.5 percent to 119.25p.

Eastern Europe

Stocks rose in Eastern Europe, led by Ceske Radiokomunikace AS. Shares of the Czech broadcaster jumped after TDC A/S and Deutsche Bank AG said they plan to make an offer to buy out other shareholders.

OAO Gazprom, the world's biggest natural gas producer, climbed 6.9 percent to 39.38 rubles, for a surge of 25 percent this week. Board Chairman Dmitry Medvedev last Friday said Gazprom submitted new plans to the government to end restrictions on foreigners buying shares,

The MSCI EM Eastern Europe Index rose 1.4 percent to 93.57 and added 3.4 percent this week.

In Canada, stocks rose for a fourth day. The Standard & Poor's/TSX Composite Index added 0.03 percent to 7001.88 in Toronto.

In Latin America, Argentina's Merval Index added 0.9 percent to 727.28. Mexico's Bolsa Index gained 0.2 percent to 7142.85 and Brazil's Bovespa Index climbed 1.2 percent to 13,289.1.

In South Africa, shares were led lower by Anglo American Platinum Corp, the world's largest platinum miner. The company had its biggest drop in five years after saying 2003 profit will be ``significantly'' lower.

The FTSE/JSE Africa All Share Index declined 0.9 percent to 8498.74 in Johannesburg.

The MSCI Emerging Markets Index, consisting of shares traded in 26 additional countries, rose 0.4 percent to 344.56.

Last Updated: July 4, 2003 16:33 EDT

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European Stocks Decline for a Second Week; Nokia, Bayer Fall
July 5 (Bloomberg) -- European stocks had their second week of declines on concern companies will struggle to lift profit as the economy stagnates. Nokia Oyj and Bayer AG led the slide.

Royal Vendex KBB NV, a Dutch department-store owner, slumped 15 percent on Friday after predicting a loss at one of its businesses. MMO2 Plc, the U.K.'s fourth-largest mobile phone company, slid after Goldman, Sachs & Co. lowered its recommendation, citing concern about increasing competition in Britain.

The Dow Jones Stoxx 50 Index dropped 8.68, or 0.4 percent, to 2392.60 in London. The Stoxx 600 fell 0.5 percent to 203.26. It is down 0.8 percent since last Friday.

``We are going to have a sticky, difficult summer,'' said Gary Clarke, who manages $1.34 billion at Gartmore Investment Management in London. ``We will get some poor corporate news over the summer and mixed economic news from the U.S. and Europe.''

Orders to German factories, whose production accounts for about a fifth of Europe's largest economy, fell 2.2 percent from April, the Economy and Labor Ministry said on Friday. Economists had forecast orders would be unchanged. An unexpected interest- rate cut in Sweden added to concern about the region's economy.

Nine of the 17 Western European benchmark indexes dropped yesterday. Germany's DAX declined 0.1 percent. The U.K.'s FTSE 100 fell 0.08 percent. France's CAC 40 dropped 0.6 percent.

The Dow Jones Euro Stoxx 50 Index of companies based in the 12 countries sharing the euro slid 0.6 percent to 2408.18.

Swedish Growth

Sweden's OMX Index climbed 0.2 percent to 539.05. Sweden's Riksbank cut its benchmark interest rate a quarter point to 2.75 percent. Twelve of 17 economists surveyed by Bloomberg News expected the bank to leave rates unchanged at 3 percent, while five forecast a quarter-point reduction.

Swedish growth will slow to 1.2 percent this year from 1.9 percent in 2002, the Riksbank said last month. In the euro zone, which excludes Sweden, the economy may grow zero to 0.4 percent in the second and third quarters, the European Commission has forecast. It didn't grow at all from January through March.

Reports Tuesday showed that European manufacturing shrank in June, the ninth contraction in 10 months, and retail sales in Germany slid for the third month in four in May.

Nokia, Bayer, Vendex

Nokia, the world's biggest cellular-phone maker, fell 2.5 percent to 14.10 euros yesterday. It's lost 5 percent this week.

Commerzbank Securities cut its recommendation on Nokia to ``reduce'' from ``hold'' on Wednesday, citing concern mobile-phone companies such as Orange SA will introduce more of their own branded phones.

Bayer lost 0.7 percent to 19.58 euros yesterday, for a 3.8 percent decline this week.

Vendex tumbled 15 percent to 8.50 euros. The largest Dutch department-store owner expects a loss of as much as 50 million euros ($57 million) at its Vroom & Dreesmann unit this fiscal year after revenue from cosmetics and music fell in the second quarter. Sales at the subsidiary slipped about 5 percent in the three months ended in June.

Mobile Phones

MMO2 fell 3.2 percent to 53.25p after Goldman Sachs lowered its recommendation to ``underperform'' from ``in-line.'' The company and rivals in the U.K. may have to reduce tariffs as competition mounts, according to the brokerage.

Vodafone Group Plc, the world's largest mobile-phone company, slipped 1.8 percent to 119.25p. Orange, France Telecom SA's wireless unit, lost 3 percent to 7.4 euros.

Volkswagen AG, Europe's biggest carmaker, dropped 1.1 percent to 37.41 euros. The company plans to invest 1 billion euros to build a new plant in China with its partner China FAW Group Co., more than doubling the venture's capacity.

Serco Group Plc, one of the U.K. Ministry of Defence's biggest service contractors, fell 2.2 percent to 154.5p after saying on Thursday after the close of London trading it was taking a 4.5 million-pound ($7.5 million) one-time cost related to reorganizing its business.

On Thursday the shares slid 6.2 percent, the biggest drop in almost four months, after Merrill Lynch analyst Paul Steegers downgraded the company to ``neutral'' from ``buy'' citing concern about reorganization costs.

William Hill Plc, the U.K.'s second-largest betting chain, rose 2.5 percent to 290 pence. The company said first-half earnings increased at least 25 percent after it installed more gaming machines.

Marconi Corp. was unchanged at 61p. The U.K. telecommunications-equipment company sold Easynet Group Plc shares worth 40.5 million pounds to money managers. Shares of Easynet, a provider of Internet access and telecommunications services, fell 4.9 percent to 116.5p.

Last Updated: July 5, 2003 03:22 EDT

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Asian Stocks Rallied This Week in Japan, Taiwan; Hong Kong Fell
July 5 (Bloomberg) -- Asian stocks rallied this week in Japan and Taiwan, led by exporters such as Sony Corp. and Taiwan Semiconductor Manufacturing Co., after a U.S. government report on factory orders added to signs that growth in the world's largest economy may pick up later this year.

Japan's Topix index rose 5.1 percent this week to 948.67, completing its seventh weekly gain and longest winning streak since July 1999. The Nikkei 225 Stock Average advanced 4.9 percent to 9547.73 for its biggest weekly advance in seven months. Taiwan's TWSE index rose 5.6 percent to 5151.85, climbing for the eighth week in nine.

``Investors are speculating that the U.S. economy will recover toward the end of the year,'' said Takashi Miyazaki, who helps manage the equivalent of $8.6 billion at UFJ Partners Asset Management Co. in Tokyo. ``There are investors who don't want to miss these opportunities.''

Expectations for a U.S. recovery also lifted South Korea's Kospi index 2.4 percent to 693.25 for the week, with computer- related exporters such as Samsung Electronics Co. and Hynix Semiconductor Inc. leading the advance.

Meanwhile, the largest demonstrations in more than a decade in Hong Kong helped pushed the Hang Seng index 0.2 percent lower to 9636.81. Some of the index's biggest stocks by market value such as HSBC Holdings Plc led this week's drop.

For the week, stock benchmarks in Singapore, Malaysia, India, Thailand and New Zealand rose, while Australia's S&P/ASX 200 Index declined.

In the U.S., the Standard & Poor's 500 Index climbed 1 percent, its fifth weekly gain in six, in a week shortened by the July 4 holiday. The Dow Jones Industrial Average climbed 0.9 percent. The Nasdaq Composite Index jumped 2.4 percent, its biggest advance in five weeks.

NEC, Sony

Japanese computer-related shares rose on optimism about the U.S. economy's prospects. U.S. factory orders in May rose 0.4 percent to $320.6 billion, the Commerce Department said, more than the $320 billion economists expected in a Bloomberg News survey.

NEC Corp., the world's sixth-largest chipmaker, surged 32 percent for the week to 742 yen, its biggest weekly gain in at least 19 years. NEC shares have jumped 67 percent this year.

Sony Corp. added 2.2 percent this week to 3680 yen, completing its biggest weekly gain in three months. The maker of Vaio computers gets a third of its sales on the U.S.

Merrill Lynch & Co. Chief Global Strategist David Bowers advised investors to buy more Japanese equities in note to clients. Other computer-related shares in the region rose after Merrill Lynch said demand for personal computers will improve and recommended investors buy shares of Microsoft Corp.

Taiwan Semiconductor, the world's largest supplier of made- to-order chips, was the biggest contributor the TWSE's weekly advance. The company's shares rose 8.8 for the week to NT$62.

United Microelectronics Corp., the world's second-biggest supplier of made-to-order semiconductors, ended the week 13 percent higher to NT$25.50.

South Korea, Hong Kong

South Korea's Samsung rose 6.4 percent for the week to 384,000 won. The world's second-largest maker of semiconductors depends on the U.S. for a fifth of its sales.

Hynix, the third-biggest global supplier of computer memory chips, surged 23 percent this week to 7,300 won and was the second- biggest contributor to the Kospi's advance.

Still, gains in South Korea were limited as the nation's railway workers went on strike this week, following similar action last month from workers at Chohung Bank and automakers.

Shares in Hong Kong declined as residents Wednesday marched in the city's biggest protest in 14 years about a proposed sedition law, underscoring public dissatisfaction with what many see as Chief Executive Tung Chee-hwa's subservience to the will of China's communist leadership.

HSBC Holdings Plc, the Hang Seng's biggest company, shed 0.8 percent to HK$92.50 this week. Cheung Kong (Holdings) Ltd., Hong Kong's biggest developer by market value, declined 1.5 percent to HK$46.90.

U.S. Earnings

Some investors are looking to the U.S. earnings season that begins next week for evidence that the recent stock rally justifies optimism of a U.S.-led economic recovery.

Next week about a quarter of the companies in the U.S. Standard & Poor's 500 Index will release quarterly results.

General Electric Co., the world's largest company, reports its earnings on June 17. Among other companies reporting next week are Alcoa Inc., the world's biggest aluminum producer, Yahoo! Inc., owner of the world's most-used Internet site, and PepsiCo Inc.

Fewer companies have warned of disappointing profit this quarter than last, according to Thomson Financial.

``The U.S. earnings out next week will be an important factor in determining whether or not Asia will be able to hold this week's gains,'' said Monika Brown, a San-Francisco based trader at Loomis Sayles & Co., which helps manage $150 million in international equities, excluding the U.S. stocks.

Last Updated: July 4, 2003 22:40 EDT

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U.S. Stocks Rise for Fifth Week in Six on Optimism for Economy
July 5 (Bloomberg) -- U.S. stocks rose for the week, lifting the Standard & Poor's 500 Index for the fifth week in six, as the highest jobless rate in nine years failed to damp optimism that profit growth will pick up in the second half.

``The market is still rallying because, for the first time in three and a half years, investors are now expecting better economic and earnings events in the future,'' said Philip Orlando, who helps manage $196 billion for Federated Investors Inc. in New York.

The S&P 500 climbed 1 percent to 985.70 in a week shortened by the July 4 holiday. Trading in U.S. markets ended at 1 p.m. Thursday in New York and remained closed Friday. Leading the benchmark's weekly advance were computer chipmakers, including Intel Corp., and commercial service providers such as Waste Management Inc.

The Dow Jones Industrial Average climbed 0.9 percent to 9070.21. The Nasdaq Composite Index rose 2.4 percent to 1663.46, its biggest gain since the week ended May 30.

Intel Rallies

Intel, the world's biggest maker of semiconductors, added 5.6 percent during the week. The company may boost its 2004 profit margins and dividend as it cuts costs and outperform rivals, Smith Barney analyst Clark Westmont said Monday.

Waste Management rose 4.6 percent. The largest U.S. trash hauler said Monday it would cut 800 management and contractor jobs to curb costs. On Tuesday, the company purchased businesses in three states from Allied Waste Industries Inc. and agreed to buy $40 million in additional operations from the rival.

Stocks fell on the last day of the holiday-shortened week after a government report showed joblessness rose to 6.4 percent in June, more than forecast and the highest rate since April 1994. Still, some investors said unemployment is a lagging indicator. Stocks pared losses after a report suggested service industries expanded in June for the third straight month.

The service-industry report ``provides greater assurance that the economy will be improving in the second half of 2003 and into next year,'' and that means stocks will rise in the next year, said Vladimir de Vassal, head of quantitative research at Glenmede Trust Co., which manages $12 billion in Philadelphia.

Stocks have rallied since March as some investors bet that the lowest interest rates in 45 years and a $350 billion package of federal tax cuts will help drive economic growth. The S&P 500 surged 15 percent in the second quarter, reaching its highest in about a year on June 17.

Earnings Rebound

The advance has lifted the Nasdaq composite 25 percent this year. The index closed Wednesday at its highest since May 2002, on expectations that earnings growth will pick up. The S&P 500 is up 12 percent this year and the Dow has risen 8.7 percent.

Earnings for S&P 500 companies probably rose 5.3 percent in the second quarter, based on the average estimate of analysts surveyed by Thomson Financial. Profit growth should accelerate to 12.8 percent in the third quarter and 21.4 percent in the fourth, the firm said. For the year, earnings are likely to rise 12.4 percent, the firm said.

About one-quarter of the companies in the S&P 500, including Alcoa Inc., Yahoo! Inc., PepsiCo Inc. and General Electric Co., will release quarterly results in the next two weeks.

Last Updated: July 5, 2003 10:17 EDT

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U.S. Treasuries Decline for 3rd Week as Economic Rebound Seen
July 5 (Bloomberg) -- U.S. Treasuries had their first three- week slide since November, sparked by an industry report showing services, the biggest part of the economy, improved in June and bolstering the view the recovery is strengthening.

Yields, which move in the opposite direction of prices, have also risen in Japan and Europe, a sign that investors are finding global bonds less appealing. Japanese 10-year government bonds had their biggest decline in four years Thursday as gains in the country's stocks sapped demand at a government auction.

A report on the U.S. services industry Thursday ``was encouraging for growth; it's not anything you could ignore,'' said Thomas Hagstrom, head of fixed-income trading at State Street Research & Management in Boston, with $26 billion of debt. ``There's a growing global discomfort with owning fixed income.''

The 3 5/8 percent note maturing in 2013 fell 15/16, or $9.38 per $1,000 face amount, to 99 3/4 at 5:00 p.m. Thursday in New York, according to Cantor, Fitzgerald LP. The yield rose 11 basis points to 3.65 percent, and reached the highest since May 13. A basis point is 0.01 percentage point.

The yield is up about a half percentage point the past three weeks, and may rise to 4 percent in coming months, said Hagstrom.

The 1 1/8 percent note due in 2005 fell 1/32 Thursday to 99 21/32, pushing its yield up 2 basis points to 1.29 percent in the holiday shortened trading week. U.S. financial markets shut yesterday for Independence Day.

`Ticking Up'

The 10-year U.S. note yield has risen from a 45-year low of 3.07 percent on June 16 as more investors conclude the Federal Reserve may be done reducing rates for at least this year. An investor who bought $10 million of benchmark 10-years at the low in yields has lost about $480,000 as of Thursday.

``Interest rates around the globe are ticking up,'' said Jeff Hussey, who manages $12 billion of fixed-income assets at Frank Russell Co. in Tacoma, Washington. ``Better global growth in general is what's driving yields up. We're skewed a bit more toward corporate debt,'' which will benefit as the economy accelerates, he said.

The Institute for Supply Management said its index for retailing, financial services, construction, and other non- manufacturing companies rose to 60.6 last month, from 54.5 in May. Readings above 50 signal expansion.

The services report outweighed government figures Thursday showing the unemployment rate rose to 6.4 percent from 6.1 percent in May and businesses shed 30,000 non-farm jobs.

`Starting to Turn'

``People are realizing things are starting to turn,'' said Don Alexander, a debt strategist in New York at Citigroup Private Bank, which handles about $166 billion in assets. ``Rates aren't justified unless you really do expect deflation,'' which is a general decline in prices.

Thirteen rate cuts by the Fed since January 2001, which have lopped 5.5 percentage points off the central bank's target rate, bringing it to a 45-year low of 1 percent, combined with $330 billion in tax cuts will ultimately boost the economy, said David Robin, an interest-rate strategist at Fimat USA Inc. in New York.

U.S. gross domestic product will grow at an annual rate of 3.7 percent in the fourth quarter, based on the median forecast of 60 economists surveyed by Bloomberg News. The economy expanded at a 1.4 percent pace in the first quarter.

Alexander said he's recommending clients put more of their holdings into corporate debt, as opposed to Treasuries.

Shifting Assets

``Treasury yields have been so low that people are preferring other assets classes,'' said David Brownlee, who manages more than $7 billion of bonds at National Life Investment Management Co. in Monptelier, Vermont. Ten-year yields may reach 3.75 percent in the next couple of weeks, he said.

Ten-year notes have fallen more than two-year Treasuries in recent weeks. The difference in yields between the notes, at 2.35 percentage points, is up from about 2.05 at the end of May and is the widest since May 6, when Federal Reserve policy makers said they were concerned slowing inflation may curb economic growth.

Investors have been unloading 10-year debt more than shorter- maturity debt on speculation the Fed's move to cut rates only a quarter-point cut in June makes it less likely the central bank will buy longer-dated debt as a means of pumping money into the financial system, said Dominic Konstam, head of interest rate research in New York at Credit Suisse First Boston. The firm is one of 22 so-called primary dealers, which trade with the Fed.

The Fed on June 25 cut its target rate by a quarter-point, disappointing some investors who anticipated a half-point cut and helping to spark declines in Treasuries.

Fed fund futures, a gauge of rate expectations for a particular month, show traders see a 17 percent chance of a rate cut when policy makers meet next, on Aug. 12, down from a 20 percent chance seen earlier, judging by the August futures contract's 0.975 percent closing yield.

Last Updated: July 5, 2003 10:10 EDT

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Conjuntura: Argentina revê contratos de privatização e congela tarifas
2003-07-05 09:17:30

O novo governo argentino, chefiado por Nestor Kirchner, quer rever 61 processos de privatização e decidiu congelar os preços dos serviço públicos privatizados. As empresas já apresentaram queixas nos tribunais.

O executivo de Buenos Aires criou um Unidade de Renegociação e Análise de Contratos de Serviços Públicos que, num prazo de 18 meses, vai reavaliar 61 contratos de privatização de serviços como telefones, electricidade, gás e águas.

Foi também decidido congelar, por tempo indeterminado, o aumento das tarifas nos serviços públicos privatizados, uma decisão que já provocou a apresentação de 20 queixas nos tribunais contra o governo.

Uma das empresas que denunciou esta decisão foi a espanhola Telefónica, que recorreu a um organismo do Banco Mundial.

Fonte: Diário Digital



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Mercados: Sonae quer exercer opção de compra na Gescartão
2003-07-05 09:06:56

O grupo Sonae pretende exercer o direito de compra das acções da Gescartão detidas pelo Estado e neste momento em Oferta Pública de Venda (OPV), noticia o jornal Público.

A decisão foi comunicada ao ministro da Economia e não deve alterar a operação de OPV, que decorre até 14 de Julho, mas pode dar argumentos ao grupo de Belmiro para pedir uma indemnização ao Estado português.

Segundo o jornal, a OPV foi registada na CMVM que, com essa decisão terá entendido que não se colocava a opção de compra reclamada pela Imocapital, que controla 65% da Gescartão e é detida em partes iguais pela Sonae e pelos espanhóis da Europac.

Fonte: Diário Digital



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Negócios: Construtora espanhola Dico factura 80 milhões em Portugal
2003-07-05 08:56:27

O grupo construtor espanhol Dico prevê uma facturação de 80 milhões de euros em Portugal com as 855 habitações que está a construir na zona do Parque das Nações, em Lisboa, e outros projectos já adjudicados.

Os números constam da documentação sobre o grupo distribuída aos jornalistas na sexta-feira, numa sessão de apresentação da Dico feita no encerramento de uma iniciativa do Fórum dos Administradores de Empresas, em Lisboa.

O grupo, que facturou 59,3 milhões de euros em 2002 e, no mesmo ano, obteve lucros de 4,6 milhões, está a construir apartamentos no Parque das Nações e já tem mais projectos adjudicados em Portugal, nas regiões de Lisboa, Porto e Algarve. A Dico participa também na promoção imobiliária.

A construtora escolheu Portugal para se expandir devido à maturidade, reforma de infra-estruturas e agilização de tramitações burocráticas que se sentiram, nos últimos anos, no mercado nacional.

A Dico foi criada em 1988 como empresa especializada em subempreitadas. Hoje tem mais de 300 trabalhadores e está a preparar a criação de um holding e um aumento de capital em 60 milhões de euros.

Fonte: Diário Digital

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Conjuntura: Constâncio diz que números do Eurostat são errados
2003-07-05 00:19:33

Os números sobre o desemprego em Portugal divulgados esta semana pelo Eurostat são errados, disse o governador do Banco de Portugal, Vítor Constâncio, à TSF.

Segundo Constâncio, a taxa de 7,5% de desemprego apontada pelo Eurostat resultou de uma interpolação feita pelos serviços europeus «sem considerar os últimos dados publicados pelo INE que têm uma taxa de desemprego de 6,4%».

O governador disse que os números vão ser corrigidos. Constâncio foi na sexta-feira ao Palácio de Belém apresentar o Relatório de 2002 do Banco de Portugal, divulgado publicamente esta semana.

Fonte: Diário Digital

[TRSM]

ParaRede diz BCP, BPI e BES subscrevem aumento de capital para 43,8 milhões (act)



Sexta, 4 Jul 2003 18:43

A ParaRede, empresa nacional de sistemas de informação, anunciou que o aumento de capital de 25,017 para 43,8 milhões de euros, abaixo do máximo previsto, vai ser subscrito pelo Banco BPI, o BES e o BCP.

A ParaRede revelou que o Banco Espírito Santo (BES) vai subscrever cerca de 61,2 milhões de acções, o equivalente a 12,23 milhões de euros, o Banco Comercial Português (BCP) subscreve 2,2 milhões de euros, o que equivale a 10,8 milhões de novas acções e o Banco BPI vai adquirir 21,9 milhões de acções, no montante de 4,4 milhões de euros.

Este aumento de capital vai ser realizado através da emissão de 93.912.500 novas acções, na modalidade de entradas em espécie resultante da conversão parcial dos créditos detidos pelas sociedades supra citadas, segundo a mesma fonte.

A ParaRede visava aumentar o seu capital social para 48 milhões de euros, objectivo que não atingiu pelo facto de o BCP e o BES não terem subscrito a totalidade do capital que lhes cabia.

No final de Maio, a empresa nacional de sistemas de informação aprovou em Assembleia Geral de Accionistas, a operação harmónio, através de uma redução seguida de aumento de capital.

A ParaRede vai 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.

Entre os que não subscreveram o aumento de capital encontram-se o Finibanco.




por Ana Torres Pereira