Archive for the ‘management’ tag
De ‘Longhi, revenues 2nd qtr. 2002 to +10%
Consolidated net revenues of the De ‘Longhi for the second quarter of 2002 should increase by more than 10% over the second quarter of 2001. These are the predictions of management emerged on the sidelines of the extraordinary that was held today in Treviso and has approved the merger by incorporation of the parent company Simac Vetrella De ‘Longhi. 30 June 2002 revenue growth stood at around 8% as compared to the corresponding period in 2001. “The growth in the second quarter was in line with our forecasts,” said CEO Stefano Beraldo, “and what is necessary to achieve our annual targets.”
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Mediaset launches development in the corporate
The board of Mediaset has launched a project to change the corporate structure which covers some businesses of the group. The project aims to adapt the company structure with the legal provisions of the Act on digital terrestrial and improve management efficiency with particular attention to cost control. The board of the subsidiary RTI has put out the necessary activities prior to project implementation which provides, inter alia: the provision of Industrial Electronics, companies’ wholly owned subsidiary of RTI, the infrastructure to transmit the signal, the acquisition by Mediadigit (a company indirectly controlled by Mediaset) of activities related to thematic channels and new media, the merger of Mediatrade, a wholly owned subsidiary of RTI.
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Milan Stock Exchange closed the eighth with a smile
European shares were soaring in the black. A sprint to the gas markets are also positive data came from the University of Michigan on consumer confidence. Piazza Affari thus gained 2.84%. Dominating trade through the operation Ferrari Fiat. The automaker has sold 34% of the “Red Maranello” to Mediobanca to 775.2 million euros. A task well received by the market. Budget positive for Eni, STM, Tim, Unicredito, Olivetti and Pirelli. Rolo Banca well even in his last days on the list. His place will be taken in Mib30 by AEM. Spotlights insurers, which are favored by the securities market experts, and asset management. Less positive opinions on banks, particularly IntesaBci and Banca di Roma, which could be involved in the WorldCom scandal. The pole instead of the list Midex who has been slowed by L’Espresso and Tod’s. Excellent seat for another title instead of luxury, Bulgari, which to a large dusting is back firmly on share EUR 6.
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France Telecom against all
It ‘a difficult time for the French company France Telecom seems to have many opponents. Michel Bon, a number of telecom trans, this morning he wanted the houses of rapping on the debt rating yesterday after Moody’s cut its rating on the stock. According Bon fact analysts are looking with too much attention to the short term and give too little consideration to the prospects in the long. Operators of the bag seems to be opposed strongly to the management of M. Bon, asking aloud the launch of a capital increase so as to limit the power of action of speculators. Always Bon said this morning that the operation is not necessary. The title meanwhile continues its descent into the Paris stock market testing new lows. Today, the session is positive and the title, after an uncertain start, marks +3.5%.
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Brilla Fideuram, the pole Bipop
opposing trends for the two securities asset management in Piazza Affari. While Fideuram is going up 2.40% of the action that changes hands at 7.43 euros, Bipop is down 0.57% to 1.91 of the euro. “Fideuram is replicating the movement of the market. After the sharp correction in recent days, trying to return to first share 7.50 euros and 8. Next week should be published the results of fundraising but, given the way the market has moved in the latter period, we think it will not be very positive, “said a trader at a foreign sim who prefers to remain anonymous. A slight upward pressure Mediolanum: +0.78% to 7.91 euros.
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Asset management boom in the final
Asset management with a final crescendo. Mediolanum is closing ahead by 7.3% to 9.77 euros, while B. Fideuram takes 6.2% to 7.62 euros.
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Gandalf: capital increase paid by the market
It will be difficult and risky plan for recapitalization of the company. Members bound by lock-up (25%) signed their share, equal to about 3.6 million out of 15.5 million that the company had estimated as urgent needs to meet commitments. There is also a recapitalization plan, which will be brought to the assembly and providing for an increase between 22 and 27 million euros which would have matched the warrants. But at the moment does not appear that there is a pool of banks willing to provide and support the recapitalization. 75% of the capital is in the hands of the market which would in fact pay the increase unless someone comes forward. “At the moment, there are only expressions of interest and no binding agreement,” said the company management.
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Fly Mediolanum, well even Fideuram
Accelerating securities asset management of Piazza Affari. The strong signals coming from Wall Street are pushing Mediolanum (+6%), with the action that changes hands at 9.66 euros, but also Fideuram going up by 4.9% to 7.53 euros. Remains slightly detached but Bipop that is scoring an increase of 2.9% to 1.925 euros.
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London Stock Exchange: Focus weekly
This week was particularly difficult for the Swiss financial English, like other stock exchanges worldwide, with the Footsie, which was again reported near the minimum of 22 March. To focus the attention of investors have been mainly shareholders of Marconi and British Telecom, both very hot. During the meeting of Marconi, shareholders vented all their anger against the company, which in early July launched a profit warning on profits, bringing the collapse in prices. In addition to the way in which this alarm has been informed by the suspension of the license for a whole day, was also criticized the inaction of management in recent weeks that has never actually informed the market about the state of health of the company. Confrontation with the unions, after the announcement by executives of the group wanted to reduce its staff by about 4 thousand units. House on fire for British Telecom, where the vertices of the company had to justify a negative performance of 40% last year. One of the few positive notes was the reduction of debt by 37% since last May, the debt that now stands at around 17.9 billion pounds.
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Baresani Varini: “Accumulate on General”
remain weak financial sector titles. “They do not give signals of the bank stock purchase, especially those of companies involved in asset management which continues to weigh on the correction of any security,” said Giulio Baresani Varini, director general of Banca Leonardo SGR, “Same goes for the insurance where the life insurance business is not growing as had been expected. In this context, it is still interesting General, to be accumulated in the 33-34 euro area.