Notícias de Fim de Semana 26 e 27 de Julho de 2003
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Rally May Stall Longer as Dollar Drops: European Stocks Outlook
July 27 (Bloomberg) -- This year's rally in European stocks has stalled as companies forecast that the dollar's drop against the euro will hurt profit. Earnings reports from companies such as Michelin & Cie. and Unilever may hinder the advance further.
Michelin, the region's largest tiremaker, and Unilever, the world's biggest maker of soap and food, are among the companies reporting results this week. The U.S. provides at least a quarter of both companies' revenue.
``Going forward, the dollar's weakness is going to be a major concern,'' said Jacques Bernard, who manages about $12 billion as chief investment officer at Ferrier Lullin & Cie. in Geneva. ``It will murder exports by making prices rise'' and make U.S. and Japanese rivals more competitive in Europe.
STMicroelectronics NV, Europe's largest semiconductor producer, and Cie. de Saint-Gobain SA, the world's biggest glassmaker, last week cut forecasts because of the European currency's decline.
Losses in stocks such as STMicro and Saint-Gobain left Europe's benchmark indexes little changed. The Dow Jones Stoxx 50 Index added 0.1 percent to 2407.11 and the Stoxx 600 gained 0.3 percent to 205.79 as drugmakers, including Roche Holding AG and GlaxoSmithKline Plc, boosted sales and profit forecasts.
The dollar sank 2.7 percent against the euro to a three-week low. Companies such as Bayer AG, a German chemical maker that generates 30 percent of sales in North America, and Total SA, a French oil company that sells crude oil for dollars and reports profit in euros, also declined.
Prolong the Pain
Last quarter, European makers of products from tires to semiconductors were hurt as the dollar traded 24 percent lower against the euro, on average, than it did a year earlier.
A 10 percent drop in the dollar's value against the euro in a year cuts an average of 5 percent to 6 percent from profits of companies in the 12 states that share the currency, according to Deutsche Bank AG.
France's Michelin said the dollar's decline lowered sales by 10 percent in the first quarter. The company will probably report on Tuesday that first-half net income fell 40 percent to 152 million euros from a year earlier, according to the median estimate of eight analysts polled by Bloomberg News.
At Unilever, a Dutch-British company that reports in euros, sales of the leading 400 brands may have risen 3 percent in the second quarter, based on the average estimate of five analysts surveyed by Bloomberg.
Unilever's total sales fell 17 percent in the first quarter, not only because of the dollar's decline against the euro but also because of a similar drop in the British pound. The U.S. accounts for about a quarter of its revenue.
`Moderate' Decline
STMicroelectronics, whose customers include Motorola Inc. and Ford Motor Co., slid 4.8 percent last week. The company said late Wednesday the dollar's retreat would result in a 35 percent gross margin, the percentage of sales remaining after production costs are subtracted. The figure was lower than the 37 percent average of five analysts in a Bloomberg News survey.
Saint-Gobain, a maker of products ranging from perfume bottles to roof shingles, dropped 5.2 percent. Chief Executive Jean-Louis Beffa said on Thursday that he expects a ``moderate'' decline in profit this year, reversing his April forecast for a gain. Saint-Gobain gets a fifth of its sales from North America.
Rhodia SA, France's biggest specialty chemicals maker, sank 5.1 percent for the week. The company said on Friday that the second half was proving more difficult than it anticipated, partly because of fluctuating foreign-exchange rates.
Pound's Drop Hurts
The slide of the dollar against the pound may have hurt the performance of U.K. companies such as British American Tobacco Plc and Imperial Chemical Industries Plc, scheduled to report earnings this week.
Both companies generate about a third of sales in North America. The dollar was 11 percent lower against the pound on average during the second quarter than in the same quarter a year ago.
British Airways Plc, Europe's largest airline, reports earnings Thursday. The company derives a fifth of revenue from the Americas. It may post a net loss for the three months ended June 30 of 53 million pounds, down from a profit of 40 million pounds a year earlier, according to the average estimate of five analysts surveyed by Bloomberg News.
The focus on currencies may divert attention from the week's economic statistics, including a report from Germany's Ifo institute on Monday that may indicate whether confidence among executives is rising as quickly as among consumers.
`Clear Signs' Lacking
Ifo, based in Munich, will probably say that its index of western German business confidence gained for a third month. The index rose to 89.5 from 88.8 in June, according to the average estimate of 18 economists surveyed by Bloomberg News.
Last week, reports showed that French consumer spending rebounded in June, while consumer optimism in Italy increased from a 6 1/2-year low during the month. The reports did little to lift stock prices.
``We're selling shares,'' said Gianluca Verzelli, head of investments at BNP Paribas Private Banking in Milan, overseeing the equivalent of $2 billion. ``We still aren't seeing clear signs of an economic recovery that will be strong enough for companies to earn enough to justify higher share prices.''
Last Updated: July 27, 2003 03:08 EDT
July 27 (Bloomberg) -- This year's rally in European stocks has stalled as companies forecast that the dollar's drop against the euro will hurt profit. Earnings reports from companies such as Michelin & Cie. and Unilever may hinder the advance further.
Michelin, the region's largest tiremaker, and Unilever, the world's biggest maker of soap and food, are among the companies reporting results this week. The U.S. provides at least a quarter of both companies' revenue.
``Going forward, the dollar's weakness is going to be a major concern,'' said Jacques Bernard, who manages about $12 billion as chief investment officer at Ferrier Lullin & Cie. in Geneva. ``It will murder exports by making prices rise'' and make U.S. and Japanese rivals more competitive in Europe.
STMicroelectronics NV, Europe's largest semiconductor producer, and Cie. de Saint-Gobain SA, the world's biggest glassmaker, last week cut forecasts because of the European currency's decline.
Losses in stocks such as STMicro and Saint-Gobain left Europe's benchmark indexes little changed. The Dow Jones Stoxx 50 Index added 0.1 percent to 2407.11 and the Stoxx 600 gained 0.3 percent to 205.79 as drugmakers, including Roche Holding AG and GlaxoSmithKline Plc, boosted sales and profit forecasts.
The dollar sank 2.7 percent against the euro to a three-week low. Companies such as Bayer AG, a German chemical maker that generates 30 percent of sales in North America, and Total SA, a French oil company that sells crude oil for dollars and reports profit in euros, also declined.
Prolong the Pain
Last quarter, European makers of products from tires to semiconductors were hurt as the dollar traded 24 percent lower against the euro, on average, than it did a year earlier.
A 10 percent drop in the dollar's value against the euro in a year cuts an average of 5 percent to 6 percent from profits of companies in the 12 states that share the currency, according to Deutsche Bank AG.
France's Michelin said the dollar's decline lowered sales by 10 percent in the first quarter. The company will probably report on Tuesday that first-half net income fell 40 percent to 152 million euros from a year earlier, according to the median estimate of eight analysts polled by Bloomberg News.
At Unilever, a Dutch-British company that reports in euros, sales of the leading 400 brands may have risen 3 percent in the second quarter, based on the average estimate of five analysts surveyed by Bloomberg.
Unilever's total sales fell 17 percent in the first quarter, not only because of the dollar's decline against the euro but also because of a similar drop in the British pound. The U.S. accounts for about a quarter of its revenue.
`Moderate' Decline
STMicroelectronics, whose customers include Motorola Inc. and Ford Motor Co., slid 4.8 percent last week. The company said late Wednesday the dollar's retreat would result in a 35 percent gross margin, the percentage of sales remaining after production costs are subtracted. The figure was lower than the 37 percent average of five analysts in a Bloomberg News survey.
Saint-Gobain, a maker of products ranging from perfume bottles to roof shingles, dropped 5.2 percent. Chief Executive Jean-Louis Beffa said on Thursday that he expects a ``moderate'' decline in profit this year, reversing his April forecast for a gain. Saint-Gobain gets a fifth of its sales from North America.
Rhodia SA, France's biggest specialty chemicals maker, sank 5.1 percent for the week. The company said on Friday that the second half was proving more difficult than it anticipated, partly because of fluctuating foreign-exchange rates.
Pound's Drop Hurts
The slide of the dollar against the pound may have hurt the performance of U.K. companies such as British American Tobacco Plc and Imperial Chemical Industries Plc, scheduled to report earnings this week.
Both companies generate about a third of sales in North America. The dollar was 11 percent lower against the pound on average during the second quarter than in the same quarter a year ago.
British Airways Plc, Europe's largest airline, reports earnings Thursday. The company derives a fifth of revenue from the Americas. It may post a net loss for the three months ended June 30 of 53 million pounds, down from a profit of 40 million pounds a year earlier, according to the average estimate of five analysts surveyed by Bloomberg News.
The focus on currencies may divert attention from the week's economic statistics, including a report from Germany's Ifo institute on Monday that may indicate whether confidence among executives is rising as quickly as among consumers.
`Clear Signs' Lacking
Ifo, based in Munich, will probably say that its index of western German business confidence gained for a third month. The index rose to 89.5 from 88.8 in June, according to the average estimate of 18 economists surveyed by Bloomberg News.
Last week, reports showed that French consumer spending rebounded in June, while consumer optimism in Italy increased from a 6 1/2-year low during the month. The reports did little to lift stock prices.
``We're selling shares,'' said Gianluca Verzelli, head of investments at BNP Paribas Private Banking in Milan, overseeing the equivalent of $2 billion. ``We still aren't seeing clear signs of an economic recovery that will be strong enough for companies to earn enough to justify higher share prices.''
Last Updated: July 27, 2003 03:08 EDT
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- Registado: 5/11/2002 11:30
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TMT: Cofina, Oni e Sonae na corrida pela Cabovisão
2003-07-27 05:34:39
A Cofina, Oni e Sonae estão interessadas na compra da Cabovisão, a segunda maior operadora portuguesa de televisão por cabo, confirmaram ao Diário Digital fontes conhecedoras do processo.
As três empresas já têm na sua posse o caderno de encargos para a aquisição da Cabovisão, apurou o Diário Digital.
A Cabovisão tem atravessado um período difícil, com a canadiana Cable Satisfaction International Inc (CSII), empresa-mãe da operadora, a ter solicitado protecção contra credores junto dos tribunais do Canadá.
Mais recentemente, a CSII anunciou um acordo com a Caisse de Dépôt et Placement du Québec (CDPQ) para promover um aumento de capital e a reestruturação da empresa.
A CSII avança que este novo processo (a estar finalizado em Setembro) para salvar a companhia passa por um aumento de capital de 45 milhões de euros (cerca de 71 milhões de dólares canadianos).
A CSII registou um prejuízo de 13 milhões de euros no primeiro trimestre fiscal deste ano.
A Cabovisão detém cerca de 18% do mercado nacional de televisão por cabo.
Fonte: Diário Digital
2003-07-27 05:34:39
A Cofina, Oni e Sonae estão interessadas na compra da Cabovisão, a segunda maior operadora portuguesa de televisão por cabo, confirmaram ao Diário Digital fontes conhecedoras do processo.
As três empresas já têm na sua posse o caderno de encargos para a aquisição da Cabovisão, apurou o Diário Digital.
A Cabovisão tem atravessado um período difícil, com a canadiana Cable Satisfaction International Inc (CSII), empresa-mãe da operadora, a ter solicitado protecção contra credores junto dos tribunais do Canadá.
Mais recentemente, a CSII anunciou um acordo com a Caisse de Dépôt et Placement du Québec (CDPQ) para promover um aumento de capital e a reestruturação da empresa.
A CSII avança que este novo processo (a estar finalizado em Setembro) para salvar a companhia passa por um aumento de capital de 45 milhões de euros (cerca de 71 milhões de dólares canadianos).
A CSII registou um prejuízo de 13 milhões de euros no primeiro trimestre fiscal deste ano.
A Cabovisão detém cerca de 18% do mercado nacional de televisão por cabo.
Fonte: Diário Digital
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- Registado: 5/11/2002 11:30
- Localização: 4
Conjuntura: Porto é o distrito com mais desempregados em Portugal
2003-07-26 11:56:31
O distrito do Porto é o que tem mais desempregados em Portugal, tendo registado um aumento de 35,2% no espaço de 12 meses, adianta este sábado a edição do Diário de Notícias.
Entre Junho de 2002 e Junho deste ano, o número de desempregados no Porto passou de 70.471 para 95.277. Devido ao aumento do desemprego, o Governo vai aprovar na quinta-feira em Conselho de Ministros um pacote de medidas para inverter a situação no distrito.
O distrito de Lisboa, com 91.364 desempregados, e do Setúbal, com 39.426, ocupam o segundo e terceiro lugar da lista negra do desemprego em Portugal, respectivamente.
A nível global, o país tem 414 mil desempregados, segundo dados do Instituto de Emprego e Formação Profissional (IEFP) a que o DN teve acesso.
De acordo com os dados do IEFP, a classe dos professores é a mais afectada pelo aumento do desemprego no último ano. Neste período, mais de 90% dos docentes ficaram sem trabalho.
Outro sector afectado é o da construção civil e indústrias transformadoras, no qual registou-se um aumento de quase 72%.
Já no grupo dos especialistas de ciências físicas, matemática e engenharia, o desemprego subiu 58,6%, refere este sábado a mesma fonte.
Fonte: Diário Digital
2003-07-26 11:56:31
O distrito do Porto é o que tem mais desempregados em Portugal, tendo registado um aumento de 35,2% no espaço de 12 meses, adianta este sábado a edição do Diário de Notícias.
Entre Junho de 2002 e Junho deste ano, o número de desempregados no Porto passou de 70.471 para 95.277. Devido ao aumento do desemprego, o Governo vai aprovar na quinta-feira em Conselho de Ministros um pacote de medidas para inverter a situação no distrito.
O distrito de Lisboa, com 91.364 desempregados, e do Setúbal, com 39.426, ocupam o segundo e terceiro lugar da lista negra do desemprego em Portugal, respectivamente.
A nível global, o país tem 414 mil desempregados, segundo dados do Instituto de Emprego e Formação Profissional (IEFP) a que o DN teve acesso.
De acordo com os dados do IEFP, a classe dos professores é a mais afectada pelo aumento do desemprego no último ano. Neste período, mais de 90% dos docentes ficaram sem trabalho.
Outro sector afectado é o da construção civil e indústrias transformadoras, no qual registou-se um aumento de quase 72%.
Já no grupo dos especialistas de ciências físicas, matemática e engenharia, o desemprego subiu 58,6%, refere este sábado a mesma fonte.
Fonte: Diário Digital
- Mensagens: 23939
- Registado: 5/11/2002 11:30
- Localização: 4
U.S. Stocks Rise on Earnings Optimism; Cummins, GE Shares Surge
July 25 (Bloomberg) -- U.S. stocks advanced as better-than- expected corporate profits and the biggest monthly gain in durable goods orders since January buoyed optimism economic growth will prolong the market's rally.
``We've had some pretty good numbers,'' said Gil Knight, who helps manage $12 billion at Allied Investment Advisors in Baltimore, in a radio interview with Bloomberg News. ``Things are improving.''
The Standard & Poor's 500 Index added 17.08, or 1.7 percent, to 998.68, for the biggest gain in almost three weeks. Cummins Inc., the world's largest maker of high-powered diesel engines, led the advance after quarterly profit unexpectedly increased.
All 30 stocks in the Dow Jones Industrial Average rose as the benchmark had its biggest jump in almost six weeks. The Dow rose 172.06, or 1.9 percent, to 9284.57. The Nasdaq Composite Index gained 29.28, or 1.7 percent, to 1730.70.
Almost two stocks advanced for every one that declined on the New York Stock Exchange. Almost 1.4 billion shares changed hands, 3.8 percent less than the three-month daily average.
Optimism that growth in corporate profits and the economy will accelerate has fueled a 25 percent rise in the S&P 500 since March 11, when the index reached its 2003 low.
The benchmark had its third weekly increase in the last four weeks, adding 0.5 percent. The Dow gained 1.1 percent, while the Nasdaq rose 1.3 percent.
Earnings Reports
About two thirds of the companies in the S&P 500 have reported second-quarter results. On average, earnings have been 6.2 percent higher than estimates, causing many analysts to ramp up their expectations for the second half of 2003. Historically, companies in the index exceed the average estimate by 2.8 percent, said Thomson Financial.
``We're very encouraged by the tone of this market,'' said Lee Kopp, president of Kopp Investment Advisors, which has about $1.5 billion under management in Edina, Minnesota. ``We're getting pretty positive feedback'' from companies that have reported results.
Sixty-seven percent of the S&P 500 companies that have released earnings have exceeded the average analyst estimate. Earnings for companies in the S&P 500 probably rose 8.1 percent in the second quarter, based on those that have reported and the average estimate for those that haven't. Profit is expected to grow 13.6 this quarter and 21.6 percent in the fourth.
Homes, Durables
Cummins surged $7.22 to $45.16. The 19 percent jump was the second largest in the S&P 500. The company said second-quarter profit was almost triple the average analyst forecast, buoyed by higher sales of filters and engines for pickup trucks.
Other manufacturing shares rose. General Electric gained 99 cents, or 3.6 percent, to $28.43 for its biggest gain in more than four months. Navistar International Corp. added $2.67 to $38.50.
Avaya climbed $1.68, or 22 percent, to $9.47. The S&P 500's best-performing stock in 2003, Avaya had the benchmark's biggest gain today. The largest U.S. maker of office-telephone equipment said it plans to eliminate as many as 500 management jobs. Chief Executive Donald Peterson said in a Bloomberg News television interview that customer spending on Internet systems may more than make up for the slump in traditional phone gear.
U.S. orders for durable goods, or items made to last at least three years, increased 2.1 percent, following little change in May, the Commerce Department said. A sustained rise would help fuel growth after excess production capacity and sagging demand restrained the economy in the first half, economist said.
The report, combined with a lower-than-expected reading yesterday on new claims for unemployment insurance, suggest the U.S. economy may be accelerating, say investors such as Allied Investment's Knight.
U.S. sales of new homes unexpectedly rose to a record in June, a government report showed, spurred by the lowest mortgage rates ever.
Priceline Surges
Priceline.com Inc., which sells discount airline tickets and hotel rooms over the Internet, surged $6.61, or 26 percent, to $31.85. The company earned 20 cents a share in the second quarter, beating analysts' average estimate by 6 cents. Priceline.com also predicted third-quarter profit will exceed analysts' estimates.
EBay Inc., the world's biggest Internet auctioneer, slid $3.50 to $112.24. Third-quarter profit excluding certain costs will be 34 cents a share on revenue of $515 million. Analysts surveyed by Thomson Financial on average forecast profit of 35 cents on sales of $518.2 million. The stock has more than doubled in the past year.
Igen Soars
Igen International Inc. soared $22.05, or 59 percent, to $59.25. The Swiss health-care company Roche Holding AG agreed to buy it for $1.42 billion. Roche will pay $47.25 for each of Igen's shares and issue stock for a new company that it will give to Igen investors, along with a $155 million payment.
JDS Uniphase Corp. fell 30 cents to $2.85. The company, which makes lasers and parts used in fiber-optic networking equipment, forecast sales in the first quarter ending in September of as much as $155 million. That's less than the $166.2 million predicted by analysts in a Thomson Financial survey.
Ivax Corp., a generic drugmaker that sells the Qvar asthma treatment, added $1.50 to $18.50. The company would fetch as much as $30 a share as a takeover target, Bedford Oak Partners LP Chairman Harvey Eisen told Business Week.
Futures, QQQs
S&P 500 futures expiring in September gained 16.50 to 996.80 on the Chicago Mercantile Exchange. Nasdaq-100 Index futures added 26.50 to 1280.50. The index, a benchmark for Nasdaq's largest companies, increased 24.55 to 1278.31.
Nasdaq-100 tracking shares, known by their QQQ ticker symbol, advanced 62 cents to $31.80. The S&P 500 shares known as Spiders added $1.74 to $100.23.
The Russell 2000 Index of small stocks rose 3.62, or 0.8 percent, to 468.88. The Wilshire 5000 Total Market Index, the broadest measure of U.S. shares, added 141.80, or 1.5 percent, to 9599.37. Based on the Wilshire's increase, the total value of U.S. stocks swelled by $170.1 billion.
July 25 (Bloomberg) -- U.S. stocks advanced as better-than- expected corporate profits and the biggest monthly gain in durable goods orders since January buoyed optimism economic growth will prolong the market's rally.
``We've had some pretty good numbers,'' said Gil Knight, who helps manage $12 billion at Allied Investment Advisors in Baltimore, in a radio interview with Bloomberg News. ``Things are improving.''
The Standard & Poor's 500 Index added 17.08, or 1.7 percent, to 998.68, for the biggest gain in almost three weeks. Cummins Inc., the world's largest maker of high-powered diesel engines, led the advance after quarterly profit unexpectedly increased.
All 30 stocks in the Dow Jones Industrial Average rose as the benchmark had its biggest jump in almost six weeks. The Dow rose 172.06, or 1.9 percent, to 9284.57. The Nasdaq Composite Index gained 29.28, or 1.7 percent, to 1730.70.
Almost two stocks advanced for every one that declined on the New York Stock Exchange. Almost 1.4 billion shares changed hands, 3.8 percent less than the three-month daily average.
Optimism that growth in corporate profits and the economy will accelerate has fueled a 25 percent rise in the S&P 500 since March 11, when the index reached its 2003 low.
The benchmark had its third weekly increase in the last four weeks, adding 0.5 percent. The Dow gained 1.1 percent, while the Nasdaq rose 1.3 percent.
Earnings Reports
About two thirds of the companies in the S&P 500 have reported second-quarter results. On average, earnings have been 6.2 percent higher than estimates, causing many analysts to ramp up their expectations for the second half of 2003. Historically, companies in the index exceed the average estimate by 2.8 percent, said Thomson Financial.
``We're very encouraged by the tone of this market,'' said Lee Kopp, president of Kopp Investment Advisors, which has about $1.5 billion under management in Edina, Minnesota. ``We're getting pretty positive feedback'' from companies that have reported results.
Sixty-seven percent of the S&P 500 companies that have released earnings have exceeded the average analyst estimate. Earnings for companies in the S&P 500 probably rose 8.1 percent in the second quarter, based on those that have reported and the average estimate for those that haven't. Profit is expected to grow 13.6 this quarter and 21.6 percent in the fourth.
Homes, Durables
Cummins surged $7.22 to $45.16. The 19 percent jump was the second largest in the S&P 500. The company said second-quarter profit was almost triple the average analyst forecast, buoyed by higher sales of filters and engines for pickup trucks.
Other manufacturing shares rose. General Electric gained 99 cents, or 3.6 percent, to $28.43 for its biggest gain in more than four months. Navistar International Corp. added $2.67 to $38.50.
Avaya climbed $1.68, or 22 percent, to $9.47. The S&P 500's best-performing stock in 2003, Avaya had the benchmark's biggest gain today. The largest U.S. maker of office-telephone equipment said it plans to eliminate as many as 500 management jobs. Chief Executive Donald Peterson said in a Bloomberg News television interview that customer spending on Internet systems may more than make up for the slump in traditional phone gear.
U.S. orders for durable goods, or items made to last at least three years, increased 2.1 percent, following little change in May, the Commerce Department said. A sustained rise would help fuel growth after excess production capacity and sagging demand restrained the economy in the first half, economist said.
The report, combined with a lower-than-expected reading yesterday on new claims for unemployment insurance, suggest the U.S. economy may be accelerating, say investors such as Allied Investment's Knight.
U.S. sales of new homes unexpectedly rose to a record in June, a government report showed, spurred by the lowest mortgage rates ever.
Priceline Surges
Priceline.com Inc., which sells discount airline tickets and hotel rooms over the Internet, surged $6.61, or 26 percent, to $31.85. The company earned 20 cents a share in the second quarter, beating analysts' average estimate by 6 cents. Priceline.com also predicted third-quarter profit will exceed analysts' estimates.
EBay Inc., the world's biggest Internet auctioneer, slid $3.50 to $112.24. Third-quarter profit excluding certain costs will be 34 cents a share on revenue of $515 million. Analysts surveyed by Thomson Financial on average forecast profit of 35 cents on sales of $518.2 million. The stock has more than doubled in the past year.
Igen Soars
Igen International Inc. soared $22.05, or 59 percent, to $59.25. The Swiss health-care company Roche Holding AG agreed to buy it for $1.42 billion. Roche will pay $47.25 for each of Igen's shares and issue stock for a new company that it will give to Igen investors, along with a $155 million payment.
JDS Uniphase Corp. fell 30 cents to $2.85. The company, which makes lasers and parts used in fiber-optic networking equipment, forecast sales in the first quarter ending in September of as much as $155 million. That's less than the $166.2 million predicted by analysts in a Thomson Financial survey.
Ivax Corp., a generic drugmaker that sells the Qvar asthma treatment, added $1.50 to $18.50. The company would fetch as much as $30 a share as a takeover target, Bedford Oak Partners LP Chairman Harvey Eisen told Business Week.
Futures, QQQs
S&P 500 futures expiring in September gained 16.50 to 996.80 on the Chicago Mercantile Exchange. Nasdaq-100 Index futures added 26.50 to 1280.50. The index, a benchmark for Nasdaq's largest companies, increased 24.55 to 1278.31.
Nasdaq-100 tracking shares, known by their QQQ ticker symbol, advanced 62 cents to $31.80. The S&P 500 shares known as Spiders added $1.74 to $100.23.
The Russell 2000 Index of small stocks rose 3.62, or 0.8 percent, to 468.88. The Wilshire 5000 Total Market Index, the broadest measure of U.S. shares, added 141.80, or 1.5 percent, to 9599.37. Based on the Wilshire's increase, the total value of U.S. stocks swelled by $170.1 billion.
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European Drugmakers Gain This Week; Saint-Gobain, DSM Decline
July 26 (Bloomberg) -- European drugmakers advanced this week after GlaxoSmithKline Plc, Europe's biggest pharmaceutical company, AstraZeneca Plc, the second largest, and Roche Holding AG raised sales and profit forecasts.
Cie. de Saint-Gobain SA, the world's biggest glassmaker, and DSM NV, the largest maker of drug ingredients, paced the week's declines among some exporters as the dollar slipped 2.7 percent against the euro to its lowest in three weeks.
On Friday, the Dow Jones Stoxx 50 Index dropped 29.55, or 1.2 percent, to 2407.11, trimming its advance for the week to 0.1 percent. The Stoxx 600 declined 0.8 percent to 205.79, cutting the weekly gain to 0.3 percent.
Drug companies led gains among the Stoxx 600's 18 industry groups. GlaxoSmithKline, Roche and AstraZeneca were among the top 10 performers on the Stoxx 50 after reporting profit that beat analysts' estimates because of sales growth and cost cuts.
``It shows the darkest period is over for big pharmaceuticals for a while,'' said Youri Amerijckx, who manages $460 million of health-care stocks, including Roche Holding, at KBC Asset Management, Belgium's largest asset manager by market share.
Before this week, the Stoxx 600 Healthcare Index had dropped 1.8 percent in 2003, while the Stoxx 600 gained 1.7 percent.
Benchmark indexes fell in 13 of the 17 Western European markets on Friday. Germany's DAX slipped 0.5 percent. The U.K.'s FTSE 100 declined 0.4 percent, and France's CAC dropped 1.5 percent.
September futures on the Dow Jones Euro Stoxx 50 Index of companies based in the 12 countries sharing the euro shed 0.9 percent to 2452. The index dropped 1.6 percent to 2442.13.
Drug Companies
GlaxoSmithKline was the fourth-best performer in the Stoxx 50 this week, climbing 4 percent. Europe's biggest drugmaker said Wednesday full-year earnings per share may exceed the ``high single digit'' growth it forecast in April. The shares slid 1.3 percent to 1,215 pence on Friday.
AstraZeneca, Europe's second-biggest drugmaker, climbed 2.6 percent this week. The company boosted its full-year outlook after second-quarter profit fell less than analysts expected. The stock dropped 0.6 percent on Friday to 2,494p.
Roche, the world's biggest maker of cancer drugs, slipped 1.3 percent to 111.25 Swiss francs, for a 3 percent weekly gain. The company Wednesday raised the estimate for its Mabthera blood- cancer medicine to 4.5 billion francs ($3.3 billion) and for Pegasys, a hepatitis C treatment, to 2 billion francs.
``Drug developers provide defense against all the economic uncertainty out there and on top of that they are releasing good earnings: that makes them a good bet,'' said Miguel Angel Castro, who helps manage the equivalent of $577 million at Renta 4 SA in Madrid, which recently bought AstraZeneca shares.
Dollar Hurts Some
A declining dollar might outweigh any benefit to European companies from an expanding U.S. economy, eroding earnings generated in the U.S. and making their products more expensive.
Saint-Gobain, founded in 1665 to produce mirrors in French King Louis XIV's palace in Versailles, slipped 1.8 percent to 33.10 euros, for a weekly slide of 4.2 percent. The company, whose products include perfume bottles and roof shingles, expects full- year profit to drop after first-half earnings fell 5.6 percent to 470 million euros ($541 million).
DSM sank 3.4 percent to 40.17 euros after saying third- quarter profit may drop more than 25 percent from 68 million euros in the second quarter. The shares gained 1.4 percent in the week.
Exchange Rates
Rhodia SA, France's biggest specialty-chemicals maker, dropped 4.6 percent to 5.38 euros after saying the second half is proving more difficult than anticipated, partly because of changes in demand and foreign exchange rates. It posted a second-quarter net loss of 87 million euros, hurt by increased petrochemical prices. The stock lost 5.1 percent this week.
Siemens, Germany's biggest electronics and engineering company, dropped 0.2 percent to 49.00 euros, trimming its gain for the week to 3.4 percent. The company said Thursday fiscal third- quarter net income fell 13 percent to 632 million euros, beating the 454 million-euro average estimate by analysts surveyed by Bloomberg News.
Renault SA, France's No. 2 carmaker, climbed 3.8 percent to 49.8 euros. The company said first-half net income rose 32 percent to 1.18 billion euros, boosted by affiliate Nissan Motor Co., which almost tripled earnings. First-half net income beat the 1.1 billion-euro median forecast of 12 analysts surveyed by Bloomberg News. The stock added 3.8 percent this week.
Insurers
Legal & General Group Plc Thursday predicted sales of financial products will rise, lifting shares of U.K. rivals such as Prudential Plc, the country's largest insurer, and Aviva Plc.
Legal & General, the U.K.'s fourth-largest insurer, climbed 4.6 percent to 97p, bringing its weekly advance to 8.7 percent. The company said it expects demand to improve in the second half. First-half operating profit rose 1 percent to 365 million pounds ($587 million). Analysts surveyed by Bloomberg had expected profit of 364 million pounds.
Prudential Plc, the largest U.K. insurer by premium income, climbed 1.6 percent to 433p, for a weekly gain of 3.3 percent. Aviva Plc, the country's second-biggest insurer, added 1.7 percent to 497.25p, for a 4.3 percent rise since last Friday.
Zeltia SA, a Spanish company developing cancer treatments from marine life, slumped 19 percent to 5.79 euros. The rejection of its most advanced drug, Yondelis, by the European Agency for the Evaluation of Medicinal Products raised concern about the company's ability to continue funding research. The stock fell 6.2 percent this week.
Last Updated: July 26, 2003 03:32 EDT
July 26 (Bloomberg) -- European drugmakers advanced this week after GlaxoSmithKline Plc, Europe's biggest pharmaceutical company, AstraZeneca Plc, the second largest, and Roche Holding AG raised sales and profit forecasts.
Cie. de Saint-Gobain SA, the world's biggest glassmaker, and DSM NV, the largest maker of drug ingredients, paced the week's declines among some exporters as the dollar slipped 2.7 percent against the euro to its lowest in three weeks.
On Friday, the Dow Jones Stoxx 50 Index dropped 29.55, or 1.2 percent, to 2407.11, trimming its advance for the week to 0.1 percent. The Stoxx 600 declined 0.8 percent to 205.79, cutting the weekly gain to 0.3 percent.
Drug companies led gains among the Stoxx 600's 18 industry groups. GlaxoSmithKline, Roche and AstraZeneca were among the top 10 performers on the Stoxx 50 after reporting profit that beat analysts' estimates because of sales growth and cost cuts.
``It shows the darkest period is over for big pharmaceuticals for a while,'' said Youri Amerijckx, who manages $460 million of health-care stocks, including Roche Holding, at KBC Asset Management, Belgium's largest asset manager by market share.
Before this week, the Stoxx 600 Healthcare Index had dropped 1.8 percent in 2003, while the Stoxx 600 gained 1.7 percent.
Benchmark indexes fell in 13 of the 17 Western European markets on Friday. Germany's DAX slipped 0.5 percent. The U.K.'s FTSE 100 declined 0.4 percent, and France's CAC dropped 1.5 percent.
September futures on the Dow Jones Euro Stoxx 50 Index of companies based in the 12 countries sharing the euro shed 0.9 percent to 2452. The index dropped 1.6 percent to 2442.13.
Drug Companies
GlaxoSmithKline was the fourth-best performer in the Stoxx 50 this week, climbing 4 percent. Europe's biggest drugmaker said Wednesday full-year earnings per share may exceed the ``high single digit'' growth it forecast in April. The shares slid 1.3 percent to 1,215 pence on Friday.
AstraZeneca, Europe's second-biggest drugmaker, climbed 2.6 percent this week. The company boosted its full-year outlook after second-quarter profit fell less than analysts expected. The stock dropped 0.6 percent on Friday to 2,494p.
Roche, the world's biggest maker of cancer drugs, slipped 1.3 percent to 111.25 Swiss francs, for a 3 percent weekly gain. The company Wednesday raised the estimate for its Mabthera blood- cancer medicine to 4.5 billion francs ($3.3 billion) and for Pegasys, a hepatitis C treatment, to 2 billion francs.
``Drug developers provide defense against all the economic uncertainty out there and on top of that they are releasing good earnings: that makes them a good bet,'' said Miguel Angel Castro, who helps manage the equivalent of $577 million at Renta 4 SA in Madrid, which recently bought AstraZeneca shares.
Dollar Hurts Some
A declining dollar might outweigh any benefit to European companies from an expanding U.S. economy, eroding earnings generated in the U.S. and making their products more expensive.
Saint-Gobain, founded in 1665 to produce mirrors in French King Louis XIV's palace in Versailles, slipped 1.8 percent to 33.10 euros, for a weekly slide of 4.2 percent. The company, whose products include perfume bottles and roof shingles, expects full- year profit to drop after first-half earnings fell 5.6 percent to 470 million euros ($541 million).
DSM sank 3.4 percent to 40.17 euros after saying third- quarter profit may drop more than 25 percent from 68 million euros in the second quarter. The shares gained 1.4 percent in the week.
Exchange Rates
Rhodia SA, France's biggest specialty-chemicals maker, dropped 4.6 percent to 5.38 euros after saying the second half is proving more difficult than anticipated, partly because of changes in demand and foreign exchange rates. It posted a second-quarter net loss of 87 million euros, hurt by increased petrochemical prices. The stock lost 5.1 percent this week.
Siemens, Germany's biggest electronics and engineering company, dropped 0.2 percent to 49.00 euros, trimming its gain for the week to 3.4 percent. The company said Thursday fiscal third- quarter net income fell 13 percent to 632 million euros, beating the 454 million-euro average estimate by analysts surveyed by Bloomberg News.
Renault SA, France's No. 2 carmaker, climbed 3.8 percent to 49.8 euros. The company said first-half net income rose 32 percent to 1.18 billion euros, boosted by affiliate Nissan Motor Co., which almost tripled earnings. First-half net income beat the 1.1 billion-euro median forecast of 12 analysts surveyed by Bloomberg News. The stock added 3.8 percent this week.
Insurers
Legal & General Group Plc Thursday predicted sales of financial products will rise, lifting shares of U.K. rivals such as Prudential Plc, the country's largest insurer, and Aviva Plc.
Legal & General, the U.K.'s fourth-largest insurer, climbed 4.6 percent to 97p, bringing its weekly advance to 8.7 percent. The company said it expects demand to improve in the second half. First-half operating profit rose 1 percent to 365 million pounds ($587 million). Analysts surveyed by Bloomberg had expected profit of 364 million pounds.
Prudential Plc, the largest U.K. insurer by premium income, climbed 1.6 percent to 433p, for a weekly gain of 3.3 percent. Aviva Plc, the country's second-biggest insurer, added 1.7 percent to 497.25p, for a 4.3 percent rise since last Friday.
Zeltia SA, a Spanish company developing cancer treatments from marine life, slumped 19 percent to 5.79 euros. The rejection of its most advanced drug, Yondelis, by the European Agency for the Evaluation of Medicinal Products raised concern about the company's ability to continue funding research. The stock fell 6.2 percent this week.
Last Updated: July 26, 2003 03:32 EDT
- Mensagens: 23939
- Registado: 5/11/2002 11:30
- Localização: 4
Japanese Stocks Rose This Week, Led by Daiwa; South Korea Fell
July 26 (Bloomberg) -- Japanese stocks rose this week, led by brokerages such as Nomura Holdings Inc., after Daiwa Securities Group Inc. posted its first profit in three quarters on increased equity trading and sales of foreign-currency bonds.
``Huge trading volumes have been benefiting most brokerages,'' said Katsuaki Furutachi, who helps manage the equivalent of $3.4 billion at Asahi Life Asset Management Co. in Tokyo. ``The market seems to be on an upward trend and it will continue to boost their profitability.''
The Nikkei 225 Stock Average gained 1.3 percent for the week to 9648.01, rising for the third week in four. The Topix index advanced 1.3 percent to 945.28. Computer-chip makers such as Toshiba Corp. and NEC Corp. gained after sales forecasts by Texas Instruments Inc. prompted Lehman Brothers Holdings Inc. to recommend buying semiconductor stocks.
South Korea's Kospi index gained 0.8 percent to 705.09 this week, led by Posco. The world's fourth-largest steelmaker surged after its board decided to increase dividend payments and cancel some stock.
In Taiwan, the TWSE index ended the week 2 percent higher at 5394.75. Hon Hai Precision Industry Co. and other companies with Chinese factories led gains on a China Daily report the Beijing government proposed a free-trade agreement with the island.
Elsewhere in Asia, Hong Kong's Hang Seng Index fell 2 percent to 9939.20. China Mobile (H.K.) Ltd. and other telecommunications companies led the drop after Credit Suisse First Boston cut its rating on Motorola Inc., sparking concern about industry growth.
U.S. Gains
In the U.S. yesterday, stocks rallied as the biggest gain in durable goods orders since January buoyed optimism economic growth will prolong the market's rally. Cummins Inc., the world's largest maker of high-powered diesel engines, led the advance after its quarterly profit unexpectedly increased.
The Standard & Poor's 500 Index added 17.08, or 1.7 percent, to 998.68, for the biggest gain in almost three weeks.
All 30 stocks in the Dow Jones Industrial Average rose as the benchmark had its biggest jump in almost six weeks. The Dow rose 172.06, or 1.9 percent, to 9284.57. The Nasdaq Composite Index gained 29.28, or 1.7 percent, to 1730.70
Nomura Holdings Inc., Japan's largest brokerage, advanced 4.6 percent to 1,650 yen this week. Nomura will report earnings on Thursday. Daiwa Securities gained 3.7 percent to 709 yen.
Daiwa Securities, Japan's second-largest brokerage by sales, almost doubled its first-quarter profit as a 14 percent gain in the quarter for the Nikkei boosted trading activity. Profit also rose as Japanese investors bought 7 trillion yen more overseas bonds than they sold in April and May, more than double their net purchases a year earlier.
Nikko Cordial Corp., Japan's third-largest brokerage, gained 4.2 percent to 527 yen. Nikko said yesterday that first- quarter profit rose threefold, boosted by bond trading and a doubling of the firm's stock underwriting fees.
Toshiba Gains
Semiconductor-related shares rose, pacing gains on the Nikkei and Topix. Toshiba, the world's third-largest chipmaker by sales, rose 7.8 percent to 485 yen. NEC, the world's sixth- largest chipmaker, jumped 8.6 percent to 783 yen.
The shares gained after Texas Instruments Inc., whose chips powered half the mobile phones sold last year, said sales this quarter may rise by 11 percent. Daniel Niles and Joseph To, analysts at Lehman, raised their rating on the stock.
Posco jumped 9 percent this week to 140,000 won after its board decided on Wednesday to raise dividends and cancel 21 percent of the company's shares.
The steelmaker said Thursday that profit tripled in the second quarter to its highest in three years because of rising demand from builders and carmakers in South Korea and China.
Kookmin Bank, the nation's largest lender, gained 5.5 percent to 42,000 won this week on optimism earnings may improve in the second half as fewer people default on credit-card payments.
South Korea's Financial Supervisory Service said in a report that the combined ratio of payments overdue for more than a month at the nation's nine major credit-card companies declined to 9.7 percent in June from a record 11.7 percent in May.
Taiwan, Hong Kong
Companies in Taiwan with business links to China advanced after the China Daily reported over the weekend that China's government proposed a free-trade accord with the island. Under the free-trade agreement, businesses in Taiwan will find it easier to start up businesses on the mainland.
Hon Hai Precision, a computer-cable connector maker with factories in China, gained 8.1 percent to NT$161 this week. Quanta Computer Inc., which makes notebook computers near Shanghai for clients such as Dell Inc., jumped 11 percent to NT$87.5.
China Mobile, China's biggest mobile-phone company, fell 6 percent to HK$19.75. China Unicom Ltd., Hong Kong's No. 2 cell- phone company, ended the week 5.3 percent lower at HK$5.35.
The shares fell after Tim Long, an analyst at Credit Suisse First Boston, cut his rating to ``underperform'' from ``neutral'' on Motorola, the world's second-largest maker of mobile phones, saying the company may not meet 2003 earnings estimates.
Last Updated: July 25, 2003 21:01 EDT
July 26 (Bloomberg) -- Japanese stocks rose this week, led by brokerages such as Nomura Holdings Inc., after Daiwa Securities Group Inc. posted its first profit in three quarters on increased equity trading and sales of foreign-currency bonds.
``Huge trading volumes have been benefiting most brokerages,'' said Katsuaki Furutachi, who helps manage the equivalent of $3.4 billion at Asahi Life Asset Management Co. in Tokyo. ``The market seems to be on an upward trend and it will continue to boost their profitability.''
The Nikkei 225 Stock Average gained 1.3 percent for the week to 9648.01, rising for the third week in four. The Topix index advanced 1.3 percent to 945.28. Computer-chip makers such as Toshiba Corp. and NEC Corp. gained after sales forecasts by Texas Instruments Inc. prompted Lehman Brothers Holdings Inc. to recommend buying semiconductor stocks.
South Korea's Kospi index gained 0.8 percent to 705.09 this week, led by Posco. The world's fourth-largest steelmaker surged after its board decided to increase dividend payments and cancel some stock.
In Taiwan, the TWSE index ended the week 2 percent higher at 5394.75. Hon Hai Precision Industry Co. and other companies with Chinese factories led gains on a China Daily report the Beijing government proposed a free-trade agreement with the island.
Elsewhere in Asia, Hong Kong's Hang Seng Index fell 2 percent to 9939.20. China Mobile (H.K.) Ltd. and other telecommunications companies led the drop after Credit Suisse First Boston cut its rating on Motorola Inc., sparking concern about industry growth.
U.S. Gains
In the U.S. yesterday, stocks rallied as the biggest gain in durable goods orders since January buoyed optimism economic growth will prolong the market's rally. Cummins Inc., the world's largest maker of high-powered diesel engines, led the advance after its quarterly profit unexpectedly increased.
The Standard & Poor's 500 Index added 17.08, or 1.7 percent, to 998.68, for the biggest gain in almost three weeks.
All 30 stocks in the Dow Jones Industrial Average rose as the benchmark had its biggest jump in almost six weeks. The Dow rose 172.06, or 1.9 percent, to 9284.57. The Nasdaq Composite Index gained 29.28, or 1.7 percent, to 1730.70
Nomura Holdings Inc., Japan's largest brokerage, advanced 4.6 percent to 1,650 yen this week. Nomura will report earnings on Thursday. Daiwa Securities gained 3.7 percent to 709 yen.
Daiwa Securities, Japan's second-largest brokerage by sales, almost doubled its first-quarter profit as a 14 percent gain in the quarter for the Nikkei boosted trading activity. Profit also rose as Japanese investors bought 7 trillion yen more overseas bonds than they sold in April and May, more than double their net purchases a year earlier.
Nikko Cordial Corp., Japan's third-largest brokerage, gained 4.2 percent to 527 yen. Nikko said yesterday that first- quarter profit rose threefold, boosted by bond trading and a doubling of the firm's stock underwriting fees.
Toshiba Gains
Semiconductor-related shares rose, pacing gains on the Nikkei and Topix. Toshiba, the world's third-largest chipmaker by sales, rose 7.8 percent to 485 yen. NEC, the world's sixth- largest chipmaker, jumped 8.6 percent to 783 yen.
The shares gained after Texas Instruments Inc., whose chips powered half the mobile phones sold last year, said sales this quarter may rise by 11 percent. Daniel Niles and Joseph To, analysts at Lehman, raised their rating on the stock.
Posco jumped 9 percent this week to 140,000 won after its board decided on Wednesday to raise dividends and cancel 21 percent of the company's shares.
The steelmaker said Thursday that profit tripled in the second quarter to its highest in three years because of rising demand from builders and carmakers in South Korea and China.
Kookmin Bank, the nation's largest lender, gained 5.5 percent to 42,000 won this week on optimism earnings may improve in the second half as fewer people default on credit-card payments.
South Korea's Financial Supervisory Service said in a report that the combined ratio of payments overdue for more than a month at the nation's nine major credit-card companies declined to 9.7 percent in June from a record 11.7 percent in May.
Taiwan, Hong Kong
Companies in Taiwan with business links to China advanced after the China Daily reported over the weekend that China's government proposed a free-trade accord with the island. Under the free-trade agreement, businesses in Taiwan will find it easier to start up businesses on the mainland.
Hon Hai Precision, a computer-cable connector maker with factories in China, gained 8.1 percent to NT$161 this week. Quanta Computer Inc., which makes notebook computers near Shanghai for clients such as Dell Inc., jumped 11 percent to NT$87.5.
China Mobile, China's biggest mobile-phone company, fell 6 percent to HK$19.75. China Unicom Ltd., Hong Kong's No. 2 cell- phone company, ended the week 5.3 percent lower at HK$5.35.
The shares fell after Tim Long, an analyst at Credit Suisse First Boston, cut his rating to ``underperform'' from ``neutral'' on Motorola, the world's second-largest maker of mobile phones, saying the company may not meet 2003 earnings estimates.
Last Updated: July 25, 2003 21:01 EDT
- Mensagens: 23939
- Registado: 5/11/2002 11:30
- Localização: 4
European Reports May Signal Economic Rebound, Analysts Say
July 26 (Bloomberg) -- German and French executives were probably more optimistic about the economy in July, adding to signs Europe may rebound later this year and damping chances of more interest rate cuts by the European Central Bank, analysts said.
The Munich-based Ifo institute will probably say on Monday that its index of western German business confidence rose for a third month, to 89.5 from 88.8 in June, according to economists surveyed by Bloomberg News. French manufacturing confidence may have rebounded from a 20-month low, a separate survey forecast.
France and Germany, Europe's biggest economies, have announced tax cuts to boost growth, after the dozen euro nations barely grew in the first three months. Companies ranging from Deutsche Bank AG to Metro Group, Europe's third-largest retailer, may report rising earnings this week, analysts said.
``There are some signs of improvement, but real economic growth won't accelerate before next year,'' said Bernd Pursteiner, who helps manage the equivalent of about $6.5 billion at DZ Capital Management GmbH in Frankfurt. There is a ``small chance'' the ECB may not lower borrowing costs further, he said.
The ECB pared borrowing costs to a half-century low of 2 percent in June. The bank will probably delay another reduction until October, according to economists. Earlier this month, a majority had forecast a cut in September. The ECB is scheduled to meet on Thursday.
Barely Growing
The economy in the dozen countries using the euro may not grow in the second and third quarters, the European Commission has said. The Spanish government will probably cut its growth forecast for this year when it announces the economic estimates for its 2004 budget proposal on Aug. 1.
``Giving optimistic signals would be frivolous,'' said Recoletos Grupo de Comunicacion SA Chief Financial Officer Joaquin Guell in an interview. The publisher of Spain's biggest-selling sports newspaper said Friday it had a second-quarter loss.
To boost growth, the ECB has cut seven times to 2 percent, the lowest in any euro area country since at least 1948. The Bank of England has pared borrowing costs nine times since the start of 2001, to the lowest since 1955.
British consumer confidence probably improved in July for a third month, following the Bank of England interest rate cut earlier this month and a stock market rebound, analysts said. The U.K. economy grew a smaller-than-expected 0.3 percent last quarter, up from 0.1 percent in the first three months.
Europe's Dow Jones Stoxx 50 Index has rebounded about 27 percent from a six-year low reached in March. Germany's DAX Index has gained more than half in the same period.
`Depression' Levels
In Germany, 21 billion euros ($24.2 billion) in planned tax cuts next year probably boosted consumer confidence for a fifth month, market research company GfK AG said its survey this month will probably show.
Investors have scaled back expectations for another reduction by the ECB, interest rate futures trading shows. The rate on a three-month Euribor contract maturing in December was at 2 percent in Frankfurt on Friday, up from 1.82 percent a month ago. The money market rate is at 2.12 percent.
Lower rates, the prospect of tax cuts and increasing signs the U.S. economy may be recovering have already bolstered confidence. Consumer optimism in Italy rose from a 6 1/2-year low in July and German investor confidence gained to an 11-month high. Belgian businesses were also more positive in July.
In the U.S., destination of about a fifth of Europe's exports, an index of leading indicators rose for a third month in June and consumer confidence gained in July. Federal Reserve Chairman Alan Greenspan has said cheaper credit costs and four months of rising stock prices will help bolster the economy.
Last Updated: July 26, 2003 03:56 EDT
July 26 (Bloomberg) -- German and French executives were probably more optimistic about the economy in July, adding to signs Europe may rebound later this year and damping chances of more interest rate cuts by the European Central Bank, analysts said.
The Munich-based Ifo institute will probably say on Monday that its index of western German business confidence rose for a third month, to 89.5 from 88.8 in June, according to economists surveyed by Bloomberg News. French manufacturing confidence may have rebounded from a 20-month low, a separate survey forecast.
France and Germany, Europe's biggest economies, have announced tax cuts to boost growth, after the dozen euro nations barely grew in the first three months. Companies ranging from Deutsche Bank AG to Metro Group, Europe's third-largest retailer, may report rising earnings this week, analysts said.
``There are some signs of improvement, but real economic growth won't accelerate before next year,'' said Bernd Pursteiner, who helps manage the equivalent of about $6.5 billion at DZ Capital Management GmbH in Frankfurt. There is a ``small chance'' the ECB may not lower borrowing costs further, he said.
The ECB pared borrowing costs to a half-century low of 2 percent in June. The bank will probably delay another reduction until October, according to economists. Earlier this month, a majority had forecast a cut in September. The ECB is scheduled to meet on Thursday.
Barely Growing
The economy in the dozen countries using the euro may not grow in the second and third quarters, the European Commission has said. The Spanish government will probably cut its growth forecast for this year when it announces the economic estimates for its 2004 budget proposal on Aug. 1.
``Giving optimistic signals would be frivolous,'' said Recoletos Grupo de Comunicacion SA Chief Financial Officer Joaquin Guell in an interview. The publisher of Spain's biggest-selling sports newspaper said Friday it had a second-quarter loss.
To boost growth, the ECB has cut seven times to 2 percent, the lowest in any euro area country since at least 1948. The Bank of England has pared borrowing costs nine times since the start of 2001, to the lowest since 1955.
British consumer confidence probably improved in July for a third month, following the Bank of England interest rate cut earlier this month and a stock market rebound, analysts said. The U.K. economy grew a smaller-than-expected 0.3 percent last quarter, up from 0.1 percent in the first three months.
Europe's Dow Jones Stoxx 50 Index has rebounded about 27 percent from a six-year low reached in March. Germany's DAX Index has gained more than half in the same period.
`Depression' Levels
In Germany, 21 billion euros ($24.2 billion) in planned tax cuts next year probably boosted consumer confidence for a fifth month, market research company GfK AG said its survey this month will probably show.
Investors have scaled back expectations for another reduction by the ECB, interest rate futures trading shows. The rate on a three-month Euribor contract maturing in December was at 2 percent in Frankfurt on Friday, up from 1.82 percent a month ago. The money market rate is at 2.12 percent.
Lower rates, the prospect of tax cuts and increasing signs the U.S. economy may be recovering have already bolstered confidence. Consumer optimism in Italy rose from a 6 1/2-year low in July and German investor confidence gained to an 11-month high. Belgian businesses were also more positive in July.
In the U.S., destination of about a fifth of Europe's exports, an index of leading indicators rose for a third month in June and consumer confidence gained in July. Federal Reserve Chairman Alan Greenspan has said cheaper credit costs and four months of rising stock prices will help bolster the economy.
Last Updated: July 26, 2003 03:56 EDT
- Mensagens: 23939
- Registado: 5/11/2002 11:30
- Localização: 4
European Drugmakers Gain This Week; Saint-Gobain, DSM Decline
July 26 (Bloomberg) -- European drugmakers advanced this week after GlaxoSmithKline Plc, Europe's biggest pharmaceutical company, AstraZeneca Plc, the second largest, and Roche Holding AG raised sales and profit forecasts.
Cie. de Saint-Gobain SA, the world's biggest glassmaker, and DSM NV, the largest maker of drug ingredients, paced the week's declines among some exporters as the dollar slipped 2.7 percent against the euro to its lowest in three weeks.
On Friday, the Dow Jones Stoxx 50 Index dropped 29.55, or 1.2 percent, to 2407.11, trimming its advance for the week to 0.1 percent. The Stoxx 600 declined 0.8 percent to 205.79, cutting the weekly gain to 0.3 percent.
Drug companies led gains among the Stoxx 600's 18 industry groups. GlaxoSmithKline, Roche and AstraZeneca were among the top 10 performers on the Stoxx 50 after reporting profit that beat analysts' estimates because of sales growth and cost cuts.
``It shows the darkest period is over for big pharmaceuticals for a while,'' said Youri Amerijckx, who manages $460 million of health-care stocks, including Roche Holding, at KBC Asset Management, Belgium's largest asset manager by market share.
Before this week, the Stoxx 600 Healthcare Index had dropped 1.8 percent in 2003, while the Stoxx 600 gained 1.7 percent.
Benchmark indexes fell in 13 of the 17 Western European markets on Friday. Germany's DAX slipped 0.5 percent. The U.K.'s FTSE 100 declined 0.4 percent, and France's CAC dropped 1.5 percent.
September futures on the Dow Jones Euro Stoxx 50 Index of companies based in the 12 countries sharing the euro shed 0.9 percent to 2452. The index dropped 1.6 percent to 2442.13.
Drug Companies
GlaxoSmithKline was the fourth-best performer in the Stoxx 50 this week, climbing 4 percent. Europe's biggest drugmaker said Wednesday full-year earnings per share may exceed the ``high single digit'' growth it forecast in April. The shares slid 1.3 percent to 1,215 pence on Friday.
AstraZeneca, Europe's second-biggest drugmaker, climbed 2.6 percent this week. The company boosted its full-year outlook after second-quarter profit fell less than analysts expected. The stock dropped 0.6 percent on Friday to 2,494p.
Roche, the world's biggest maker of cancer drugs, slipped 1.3 percent to 111.25 Swiss francs, for a 3 percent weekly gain. The company Wednesday raised the estimate for its Mabthera blood- cancer medicine to 4.5 billion francs ($3.3 billion) and for Pegasys, a hepatitis C treatment, to 2 billion francs.
``Drug developers provide defense against all the economic uncertainty out there and on top of that they are releasing good earnings: that makes them a good bet,'' said Miguel Angel Castro, who helps manage the equivalent of $577 million at Renta 4 SA in Madrid, which recently bought AstraZeneca shares.
Dollar Hurts Some
A declining dollar might outweigh any benefit to European companies from an expanding U.S. economy, eroding earnings generated in the U.S. and making their products more expensive.
Saint-Gobain, founded in 1665 to produce mirrors in French King Louis XIV's palace in Versailles, slipped 1.8 percent to 33.10 euros, for a weekly slide of 4.2 percent. The company, whose products include perfume bottles and roof shingles, expects full- year profit to drop after first-half earnings fell 5.6 percent to 470 million euros ($541 million).
DSM sank 3.4 percent to 40.17 euros after saying third- quarter profit may drop more than 25 percent from 68 million euros in the second quarter. The shares gained 1.4 percent in the week.
Exchange Rates
Rhodia SA, France's biggest specialty-chemicals maker, dropped 4.6 percent to 5.38 euros after saying the second half is proving more difficult than anticipated, partly because of changes in demand and foreign exchange rates. It posted a second-quarter net loss of 87 million euros, hurt by increased petrochemical prices. The stock lost 5.1 percent this week.
Siemens, Germany's biggest electronics and engineering company, dropped 0.2 percent to 49.00 euros, trimming its gain for the week to 3.4 percent. The company said Thursday fiscal third- quarter net income fell 13 percent to 632 million euros, beating the 454 million-euro average estimate by analysts surveyed by Bloomberg News.
Renault SA, France's No. 2 carmaker, climbed 3.8 percent to 49.8 euros. The company said first-half net income rose 32 percent to 1.18 billion euros, boosted by affiliate Nissan Motor Co., which almost tripled earnings. First-half net income beat the 1.1 billion-euro median forecast of 12 analysts surveyed by Bloomberg News. The stock added 3.8 percent this week.
Insurers
Legal & General Group Plc Thursday predicted sales of financial products will rise, lifting shares of U.K. rivals such as Prudential Plc, the country's largest insurer, and Aviva Plc.
Legal & General, the U.K.'s fourth-largest insurer, climbed 4.6 percent to 97p, bringing its weekly advance to 8.7 percent. The company said it expects demand to improve in the second half. First-half operating profit rose 1 percent to 365 million pounds ($587 million). Analysts surveyed by Bloomberg had expected profit of 364 million pounds.
Prudential Plc, the largest U.K. insurer by premium income, climbed 1.6 percent to 433p, for a weekly gain of 3.3 percent. Aviva Plc, the country's second-biggest insurer, added 1.7 percent to 497.25p, for a 4.3 percent rise since last Friday.
Zeltia SA, a Spanish company developing cancer treatments from marine life, slumped 19 percent to 5.79 euros. The rejection of its most advanced drug, Yondelis, by the European Agency for the Evaluation of Medicinal Products raised concern about the company's ability to continue funding research. The stock fell 6.2 percent this week.
Last Updated: July 26, 2003 03:32 EDT
July 26 (Bloomberg) -- European drugmakers advanced this week after GlaxoSmithKline Plc, Europe's biggest pharmaceutical company, AstraZeneca Plc, the second largest, and Roche Holding AG raised sales and profit forecasts.
Cie. de Saint-Gobain SA, the world's biggest glassmaker, and DSM NV, the largest maker of drug ingredients, paced the week's declines among some exporters as the dollar slipped 2.7 percent against the euro to its lowest in three weeks.
On Friday, the Dow Jones Stoxx 50 Index dropped 29.55, or 1.2 percent, to 2407.11, trimming its advance for the week to 0.1 percent. The Stoxx 600 declined 0.8 percent to 205.79, cutting the weekly gain to 0.3 percent.
Drug companies led gains among the Stoxx 600's 18 industry groups. GlaxoSmithKline, Roche and AstraZeneca were among the top 10 performers on the Stoxx 50 after reporting profit that beat analysts' estimates because of sales growth and cost cuts.
``It shows the darkest period is over for big pharmaceuticals for a while,'' said Youri Amerijckx, who manages $460 million of health-care stocks, including Roche Holding, at KBC Asset Management, Belgium's largest asset manager by market share.
Before this week, the Stoxx 600 Healthcare Index had dropped 1.8 percent in 2003, while the Stoxx 600 gained 1.7 percent.
Benchmark indexes fell in 13 of the 17 Western European markets on Friday. Germany's DAX slipped 0.5 percent. The U.K.'s FTSE 100 declined 0.4 percent, and France's CAC dropped 1.5 percent.
September futures on the Dow Jones Euro Stoxx 50 Index of companies based in the 12 countries sharing the euro shed 0.9 percent to 2452. The index dropped 1.6 percent to 2442.13.
Drug Companies
GlaxoSmithKline was the fourth-best performer in the Stoxx 50 this week, climbing 4 percent. Europe's biggest drugmaker said Wednesday full-year earnings per share may exceed the ``high single digit'' growth it forecast in April. The shares slid 1.3 percent to 1,215 pence on Friday.
AstraZeneca, Europe's second-biggest drugmaker, climbed 2.6 percent this week. The company boosted its full-year outlook after second-quarter profit fell less than analysts expected. The stock dropped 0.6 percent on Friday to 2,494p.
Roche, the world's biggest maker of cancer drugs, slipped 1.3 percent to 111.25 Swiss francs, for a 3 percent weekly gain. The company Wednesday raised the estimate for its Mabthera blood- cancer medicine to 4.5 billion francs ($3.3 billion) and for Pegasys, a hepatitis C treatment, to 2 billion francs.
``Drug developers provide defense against all the economic uncertainty out there and on top of that they are releasing good earnings: that makes them a good bet,'' said Miguel Angel Castro, who helps manage the equivalent of $577 million at Renta 4 SA in Madrid, which recently bought AstraZeneca shares.
Dollar Hurts Some
A declining dollar might outweigh any benefit to European companies from an expanding U.S. economy, eroding earnings generated in the U.S. and making their products more expensive.
Saint-Gobain, founded in 1665 to produce mirrors in French King Louis XIV's palace in Versailles, slipped 1.8 percent to 33.10 euros, for a weekly slide of 4.2 percent. The company, whose products include perfume bottles and roof shingles, expects full- year profit to drop after first-half earnings fell 5.6 percent to 470 million euros ($541 million).
DSM sank 3.4 percent to 40.17 euros after saying third- quarter profit may drop more than 25 percent from 68 million euros in the second quarter. The shares gained 1.4 percent in the week.
Exchange Rates
Rhodia SA, France's biggest specialty-chemicals maker, dropped 4.6 percent to 5.38 euros after saying the second half is proving more difficult than anticipated, partly because of changes in demand and foreign exchange rates. It posted a second-quarter net loss of 87 million euros, hurt by increased petrochemical prices. The stock lost 5.1 percent this week.
Siemens, Germany's biggest electronics and engineering company, dropped 0.2 percent to 49.00 euros, trimming its gain for the week to 3.4 percent. The company said Thursday fiscal third- quarter net income fell 13 percent to 632 million euros, beating the 454 million-euro average estimate by analysts surveyed by Bloomberg News.
Renault SA, France's No. 2 carmaker, climbed 3.8 percent to 49.8 euros. The company said first-half net income rose 32 percent to 1.18 billion euros, boosted by affiliate Nissan Motor Co., which almost tripled earnings. First-half net income beat the 1.1 billion-euro median forecast of 12 analysts surveyed by Bloomberg News. The stock added 3.8 percent this week.
Insurers
Legal & General Group Plc Thursday predicted sales of financial products will rise, lifting shares of U.K. rivals such as Prudential Plc, the country's largest insurer, and Aviva Plc.
Legal & General, the U.K.'s fourth-largest insurer, climbed 4.6 percent to 97p, bringing its weekly advance to 8.7 percent. The company said it expects demand to improve in the second half. First-half operating profit rose 1 percent to 365 million pounds ($587 million). Analysts surveyed by Bloomberg had expected profit of 364 million pounds.
Prudential Plc, the largest U.K. insurer by premium income, climbed 1.6 percent to 433p, for a weekly gain of 3.3 percent. Aviva Plc, the country's second-biggest insurer, added 1.7 percent to 497.25p, for a 4.3 percent rise since last Friday.
Zeltia SA, a Spanish company developing cancer treatments from marine life, slumped 19 percent to 5.79 euros. The rejection of its most advanced drug, Yondelis, by the European Agency for the Evaluation of Medicinal Products raised concern about the company's ability to continue funding research. The stock fell 6.2 percent this week.
Last Updated: July 26, 2003 03:32 EDT
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Soros Criticizes U.S. President Bush in Anti-War Ads (Update1)
July 26 (Bloomberg) -- Billionaire philanthropist and investor George Soros, who has come out in favor of an open society in Eastern Europe and the legalization of marijuana for medicinal purposes in the U.S., is now taking on the Bush administration.
Full-page advertisements with the headline, ``When the Nation Goes to War, the People Deserve the Truth,'' will appear tomorrow in the New York Times, the St. Louis Post-Dispatch and the Houston Chronicle.
Soros and philanthropists Lewis and Dorothy Cullman ask readers to contact their Congressional representatives to ``get the truth,'' about the ``exaggerated and false intelligence'' the administration used to support its case for invading Iraq.
``Both George Soros and the Cullmans have been deeply concerned about the deception used to justify the war in Iraq,'' said Michael Vachon, a spokesman for Soros in New York. ``They believe that their fellow citizens should also be concerned and they took out these ads to help move them to action.''
Soros has been vocal in his opposition to Bush's foreign policy. In a speech he gave in March in Washington, he said ``the Bush administration is leading the United States and the world in the wrong direction.''
Possible Appointment
The advertisement lists 12 statements that turned out to be untrue, including the fact that Saddam Hussein sought significant quantities of uranium from Africa.
President George W. Bush is considering an overhaul of his postwar administration of Iraq, including the possibility of asking former U.S. Secretary of State James A. Baker III to help, the Washington Post said, citing unnamed administration officials.
Baker may be asked to seek funds from other countries or help restructure Iraq's debt, the newspaper said. No final decision has been made, the Post said.
Bush's approval rating is falling as more Americans grow concerned about rising casualties among U.S. troops in Iraq, according to surveys by Newsweek magazine and the Washington Post.
Last Updated: July 26, 2003 05:32 EDT
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Soros Criticizes U.S. President Bush in Anti-War Ads (Update1)
July 26 (Bloomberg) -- Billionaire philanthropist and investor George Soros, who has come out in favor of an open society in Eastern Europe and the legalization of marijuana for medicinal purposes in the U.S., is now taking on the Bush administration.
Full-page advertisements with the headline, ``When the Nation Goes to War, the People Deserve the Truth,'' will appear tomorrow in the New York Times, the St. Louis Post-Dispatch and the Houston Chronicle.
Soros and philanthropists Lewis and Dorothy Cullman ask readers to contact their Congressional representatives to ``get the truth,'' about the ``exaggerated and false intelligence'' the administration used to support its case for invading Iraq.
``Both George Soros and the Cullmans have been deeply concerned about the deception used to justify the war in Iraq,'' said Michael Vachon, a spokesman for Soros in New York. ``They believe that their fellow citizens should also be concerned and they took out these ads to help move them to action.''
Soros has been vocal in his opposition to Bush's foreign policy. In a speech he gave in March in Washington, he said ``the Bush administration is leading the United States and the world in the wrong direction.''
Possible Appointment
The advertisement lists 12 statements that turned out to be untrue, including the fact that Saddam Hussein sought significant quantities of uranium from Africa.
President George W. Bush is considering an overhaul of his postwar administration of Iraq, including the possibility of asking former U.S. Secretary of State James A. Baker III to help, the Washington Post said, citing unnamed administration officials.
Baker may be asked to seek funds from other countries or help restructure Iraq's debt, the newspaper said. No final decision has been made, the Post said.
Bush's approval rating is falling as more Americans grow concerned about rising casualties among U.S. troops in Iraq, according to surveys by Newsweek magazine and the Washington Post.
Last Updated: July 26, 2003 05:32 EDT
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TMT: Investimento publicitário aumenta 1,6% no primeiro semestre
2003-07-26 03:15:58
O investimento publicitário verificou um incremento de 1,6% no primeiro semestre deste ano. Os dados são do Obervatório da Comunicação (Obercom), o qual cita um estudo da Tempo OMD, baseado em valores reais do mercado.
Segundo o documento, os gastos em publicidade somaram 337,9 milhões de euros, acima dos 332,4 milhões de euros assinalados no período homólogo.
A televisão por cabo constituiu o meio com o crescimento mais significativo no período (com mais 26,4%), seguido do cinema (com mais 23,5%), ainda que o reino da Sétima arte seja, em termos absolutos, o menos representativo.
Por outro lado, os investimentos nos três canais generalistas verificaram um crescimento mais comedido (7,5%), tendo entrado 161,2 milhões de euros, contra os cerca de 150 milhões de euros aplicados no mesmo período do ano passado.
A publicidade exterior e a imprensa não diária registaram aumentos de 1,5% e 2,5% respectivamente, sendo que a rádio assinalou uma subida de 4,5%, para os 22,6 milhões de euros.
Para ver o estudo e o artigo da Obercom, clique aqui.
Fonte: Diário Digital
2003-07-26 03:15:58
O investimento publicitário verificou um incremento de 1,6% no primeiro semestre deste ano. Os dados são do Obervatório da Comunicação (Obercom), o qual cita um estudo da Tempo OMD, baseado em valores reais do mercado.
Segundo o documento, os gastos em publicidade somaram 337,9 milhões de euros, acima dos 332,4 milhões de euros assinalados no período homólogo.
A televisão por cabo constituiu o meio com o crescimento mais significativo no período (com mais 26,4%), seguido do cinema (com mais 23,5%), ainda que o reino da Sétima arte seja, em termos absolutos, o menos representativo.
Por outro lado, os investimentos nos três canais generalistas verificaram um crescimento mais comedido (7,5%), tendo entrado 161,2 milhões de euros, contra os cerca de 150 milhões de euros aplicados no mesmo período do ano passado.
A publicidade exterior e a imprensa não diária registaram aumentos de 1,5% e 2,5% respectivamente, sendo que a rádio assinalou uma subida de 4,5%, para os 22,6 milhões de euros.
Para ver o estudo e o artigo da Obercom, clique aqui.
Fonte: Diário Digital
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Negócios: Governo espanhol autoriza venda da ENA
2003-07-26 03:10:20
O executivo espanhol aprovou esta sexta-feira a venda total da Empresa Nacional de Auto-estradas (ENA) ao consórcio liderado pela Sacyr e Banco Santander Central Hispano (SCH).
O negócio (onde a Brisa chegou a estar envolvida) atingiu os 1,586 mil milhões de euros, constituindo a oferta mais elevada pelo capital social da ENA.
A decisão do conselho de ministros espanhol permite assim que a Sociedade Estatal de Participações Empresariais (SEPI) venda a ENA ao consórcio liderado pela Sacyr, com 50%, e SCH, com 20%.
A ENA opera quatro concessões em Espanha, através de quatro sociedades participadas: a Autopistas Del Atlântico, Autopista Consecionaria Astur-Leonesa, a Autopistas de Navarra e Auto Estradas de Galicia. No total, representam 22% dos quilómetros de auto-estrada em Espanha.
Fonte: Diário Digital
2003-07-26 03:10:20
O executivo espanhol aprovou esta sexta-feira a venda total da Empresa Nacional de Auto-estradas (ENA) ao consórcio liderado pela Sacyr e Banco Santander Central Hispano (SCH).
O negócio (onde a Brisa chegou a estar envolvida) atingiu os 1,586 mil milhões de euros, constituindo a oferta mais elevada pelo capital social da ENA.
A decisão do conselho de ministros espanhol permite assim que a Sociedade Estatal de Participações Empresariais (SEPI) venda a ENA ao consórcio liderado pela Sacyr, com 50%, e SCH, com 20%.
A ENA opera quatro concessões em Espanha, através de quatro sociedades participadas: a Autopistas Del Atlântico, Autopista Consecionaria Astur-Leonesa, a Autopistas de Navarra e Auto Estradas de Galicia. No total, representam 22% dos quilómetros de auto-estrada em Espanha.
Fonte: Diário Digital
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Negócios: Contrato entre o Estado e a Lusoponte não está a ser cumprido
2003-07-26 02:55:33
O acordo entre o Estado e a Lusoponte (assinado em Junho de 2000) não está a ser totalmente cumprido. Segundo o Expresso, existem ainda algumas cláusulas que se encontram total ou parcialmente por cumprir.
O semanário refere que está em causa obrigatoriedade da Lusoponte colocar à disposição do Estado um edifício a construir na praça da portagem (no Montijo) e a realização pela concessionária da ponte Vasco da Gama de um estudo de viabilidade para a tomada de decisão de construção de uma nova travessia do Tejo.
Com um prazo máximo de nove meses a contar da assinatura do acordo, esta acção decorreria sem encargos para o Estado, algo que o Tribunal de Contas refutou numa auditoria.
O Expresso refere ainda que no seguimento do acordo e após a decisão de não se nivelar as portagens da ponte 25 de Abril com as da Vasco da Gama, o Estado foi obrigado a atribuir uma concessão para equilibrar as contas com a Lusoponte, compensando concessionária pelo diferencial de tarifas e do não-pagamento de portagens em Agosto.
Essa medida foi aprovada pelo ex-ministro do Equipamento Social, Jorge Coelho, e permitiu uma compensação directa à Lusoponte no valor de 907 milhões de euros (incluindo os custos com o estudo).
Fonte: Diário Digital
2003-07-26 02:55:33
O acordo entre o Estado e a Lusoponte (assinado em Junho de 2000) não está a ser totalmente cumprido. Segundo o Expresso, existem ainda algumas cláusulas que se encontram total ou parcialmente por cumprir.
O semanário refere que está em causa obrigatoriedade da Lusoponte colocar à disposição do Estado um edifício a construir na praça da portagem (no Montijo) e a realização pela concessionária da ponte Vasco da Gama de um estudo de viabilidade para a tomada de decisão de construção de uma nova travessia do Tejo.
Com um prazo máximo de nove meses a contar da assinatura do acordo, esta acção decorreria sem encargos para o Estado, algo que o Tribunal de Contas refutou numa auditoria.
O Expresso refere ainda que no seguimento do acordo e após a decisão de não se nivelar as portagens da ponte 25 de Abril com as da Vasco da Gama, o Estado foi obrigado a atribuir uma concessão para equilibrar as contas com a Lusoponte, compensando concessionária pelo diferencial de tarifas e do não-pagamento de portagens em Agosto.
Essa medida foi aprovada pelo ex-ministro do Equipamento Social, Jorge Coelho, e permitiu uma compensação directa à Lusoponte no valor de 907 milhões de euros (incluindo os custos com o estudo).
Fonte: Diário Digital
- Mensagens: 23939
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2003-07-26 02:45:25
Um relatório da Inspecção Geral das Finanças (IGF) volta a gerar polémica quanto ao plano de pormenor das Antas. Segundo uma notícia do JN, o IGF analisou o processo e considera que houve várias irregularidades com prejuízo para o património municipal da cidade do Porto.
A IGF considera, por exemplo, que foi indevido o pagamento de indemnizações à Lameira Imobiliária, à Sociedade Protectora dos Animais e à construtora Soares da Costa.
Segundo avança o JN, a Câmara Municipal do Porto não tinha condições para avançar com o processo de reparcelamento e foi pressionada a aceitar as condições das outras partes envolvidas.
A criação da socidade Agência para a Modernização do Porto (APOR) é tida como um dos exemplos mais graves desta situação, gerando uma derrapagem de 507 mil euros.
O JN assegura inclusive que o orçamento actual para a realização das infra-estruturas corresponde a um devio de 91%, em relação à previsão do documento final.
Os valores avançados pelo jornal indiciam que os erros de gestão podem chegar a vários milhões de euros.
Fonte: Diário Digital
Um relatório da Inspecção Geral das Finanças (IGF) volta a gerar polémica quanto ao plano de pormenor das Antas. Segundo uma notícia do JN, o IGF analisou o processo e considera que houve várias irregularidades com prejuízo para o património municipal da cidade do Porto.
A IGF considera, por exemplo, que foi indevido o pagamento de indemnizações à Lameira Imobiliária, à Sociedade Protectora dos Animais e à construtora Soares da Costa.
Segundo avança o JN, a Câmara Municipal do Porto não tinha condições para avançar com o processo de reparcelamento e foi pressionada a aceitar as condições das outras partes envolvidas.
A criação da socidade Agência para a Modernização do Porto (APOR) é tida como um dos exemplos mais graves desta situação, gerando uma derrapagem de 507 mil euros.
O JN assegura inclusive que o orçamento actual para a realização das infra-estruturas corresponde a um devio de 91%, em relação à previsão do documento final.
Os valores avançados pelo jornal indiciam que os erros de gestão podem chegar a vários milhões de euros.
Fonte: Diário Digital
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TMT: Oracle terá de pagar 7,5 mil milhões de dólares pela PeopleSoft
2003-07-26 02:30:47
A Oracle terá de pagar 7,5 mil milhões de dólares (6,5 mil milhões de euros) pela aquisição da PeopleSoft, após esta ter usado mais acções para comprar a J.D. Edwards.
Desta forma, a terceira maior empresa mundial de software deverá desembolsar mais 1,2 mil milhões de dólares (1,04 mil milhões de euros) do que o previsto inicialmente, sendo que a Oracle pretende alargar o prazo da oferta até 15 de Agosto.
Recorde-se que PeopleSoft comprou recentemente a J.D. Edwards por 1,7 mil milhões de dólares (cerca de 1,45 mil milhões de euros), finalizando o processo (que já se arrastava há algumas semanas) quando se registou um atraso no processo legal sobre a oferta pública de aquisição hostil lançada pela Oracle sobre a PeopleSoft.
Fonte: Diário Digital
2003-07-26 02:30:47
A Oracle terá de pagar 7,5 mil milhões de dólares (6,5 mil milhões de euros) pela aquisição da PeopleSoft, após esta ter usado mais acções para comprar a J.D. Edwards.
Desta forma, a terceira maior empresa mundial de software deverá desembolsar mais 1,2 mil milhões de dólares (1,04 mil milhões de euros) do que o previsto inicialmente, sendo que a Oracle pretende alargar o prazo da oferta até 15 de Agosto.
Recorde-se que PeopleSoft comprou recentemente a J.D. Edwards por 1,7 mil milhões de dólares (cerca de 1,45 mil milhões de euros), finalizando o processo (que já se arrastava há algumas semanas) quando se registou um atraso no processo legal sobre a oferta pública de aquisição hostil lançada pela Oracle sobre a PeopleSoft.
Fonte: Diário Digital
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Finanças: Frasquilho defende IVA nos 21% para compensar o choque fiscal
2003-07-26 02:24:34
O ex-secretário de Estado do Tesouro e Finanças, Miguel Frasquilho, sustenta que o IVA pode subir até aos 21%, de modo a compensar o «choque fiscal».
A opinião é expressa por Frasquilho na edição deste sábado do jornal Expresso, apresentando-se a solução de recurso para garantir a urgente descida do IRC sem comprometer o limite do défice imposto pelo Pacto de Estabilidade e Crescimento.
Citado pelo semanário, Carrilho considera que se trata de «uma medida a tomar, mas só em último recurso. Apesar de tudo, penso que não vai ser necessário.»
Frasquilho já havia sugerido no início da semana que esta subida da taxa normal do IVA de 19% para 21% fosse acompanhada da descida da taxa reduzida de IVA de 5% para 4%.
Fonte: Diário Digital
2003-07-26 02:24:34
O ex-secretário de Estado do Tesouro e Finanças, Miguel Frasquilho, sustenta que o IVA pode subir até aos 21%, de modo a compensar o «choque fiscal».
A opinião é expressa por Frasquilho na edição deste sábado do jornal Expresso, apresentando-se a solução de recurso para garantir a urgente descida do IRC sem comprometer o limite do défice imposto pelo Pacto de Estabilidade e Crescimento.
Citado pelo semanário, Carrilho considera que se trata de «uma medida a tomar, mas só em último recurso. Apesar de tudo, penso que não vai ser necessário.»
Frasquilho já havia sugerido no início da semana que esta subida da taxa normal do IVA de 19% para 21% fosse acompanhada da descida da taxa reduzida de IVA de 5% para 4%.
Fonte: Diário Digital
- Mensagens: 23939
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Mercados: Cofina/Lecta paga o dobro da M-Real pela Portucel
2003-07-26 00:05:32
A parceria entre a Cofina e Lecta é a principal favorita à privatização do Portucel, podendo oferecer o dobro do exibido pela outra concorrente, a M-Real.
Os valores são avançado pelo jornal Expresso, o qual dá conta que «as propostas dos candidatos serão revistas durante as negociações com o júri, aproximando o valor dos activos em causa dos 396 milhões de euros, que representam 25% do capital da Portucel».
De acordo com o semanário, os nórdicos da M-Real apresentaram a concurso os seus activos em papel de escritório, avaliados em 1010 milhões de euros.
O consórcio Cofina/Lecta apresenta-se como um grupo industrial - incluindo fábricas de papel revestido e a área da distribuição -, avaliando-o em 2047 milhões de euros, ie, o dobro da oferta da concorrente.
Fonte: Diário Digital
2003-07-26 00:05:32
A parceria entre a Cofina e Lecta é a principal favorita à privatização do Portucel, podendo oferecer o dobro do exibido pela outra concorrente, a M-Real.
Os valores são avançado pelo jornal Expresso, o qual dá conta que «as propostas dos candidatos serão revistas durante as negociações com o júri, aproximando o valor dos activos em causa dos 396 milhões de euros, que representam 25% do capital da Portucel».
De acordo com o semanário, os nórdicos da M-Real apresentaram a concurso os seus activos em papel de escritório, avaliados em 1010 milhões de euros.
O consórcio Cofina/Lecta apresenta-se como um grupo industrial - incluindo fábricas de papel revestido e a área da distribuição -, avaliando-o em 2047 milhões de euros, ie, o dobro da oferta da concorrente.
Fonte: Diário Digital
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- Registado: 5/11/2002 11:30
- Localização: 4
Notícias de Fim de Semana 26 e 27 de Julho de 2003
EUA encerra com ganhos sólidos
25-7-2003 21:1
Os mercados norte-americanos, depois de alguma incerteza, encerraram com ganhos sólidos, com os investidores mais optimistas quanto aos resultados e reagindo a dados macroeconómicos favoráveis.
A EBay desceu 3,02 por cento, depois de ter apresento um lucro, excluindo itens não-recorrentes de 34 cêntimos por acção, com vendas de 515 milhões de dólares, pouco abaixo das estimativas dos analistas.
No plano macroeconómico, as encomendas de bens duradouros aumentou 2,1 por cento em Junho, segundo o Departamento do Comércio. Esta subida sugere um crescimento mais sustentado. Este número foi o segundo consecutivo a sair favorável, depois do anúncio de menos novos pedidos de subsídio de desemprego que o esperado.
A venda de habitações novas aumentou para um novo máximo em Junho, beneficiando das menores taxas de juro ao crédito à habitação de sempre.
O Dow Jones Industrial aumentou 1,86 por cento e o Nasdaq Composite valorizou 1,72 por cento.
BolsaPt.com
25-7-2003 21:1
Os mercados norte-americanos, depois de alguma incerteza, encerraram com ganhos sólidos, com os investidores mais optimistas quanto aos resultados e reagindo a dados macroeconómicos favoráveis.
A EBay desceu 3,02 por cento, depois de ter apresento um lucro, excluindo itens não-recorrentes de 34 cêntimos por acção, com vendas de 515 milhões de dólares, pouco abaixo das estimativas dos analistas.
No plano macroeconómico, as encomendas de bens duradouros aumentou 2,1 por cento em Junho, segundo o Departamento do Comércio. Esta subida sugere um crescimento mais sustentado. Este número foi o segundo consecutivo a sair favorável, depois do anúncio de menos novos pedidos de subsídio de desemprego que o esperado.
A venda de habitações novas aumentou para um novo máximo em Junho, beneficiando das menores taxas de juro ao crédito à habitação de sempre.
O Dow Jones Industrial aumentou 1,86 por cento e o Nasdaq Composite valorizou 1,72 por cento.
BolsaPt.com
Editado pela última vez por TRSM em 28/7/2003 7:59, num total de 1 vez.
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