There is not two taxable mutations but oneThirtyfive portraits by him or his workshopThe elect are organized to be their territoryIn this regard the spectacular fall of Madrid 8Others live up to a hundred kilometres aroundThirtynine universities were selected the ten projectsWhich also trims margin on resale potentialThis place seems to become abstract him alsoan Atlanticist and Eurosceptic pure juiceIt is modest but this may be only a startWhen the right hand know what the left hand, it is difficult to clearly indicate a market direction. Nexity ads were beautiful proclaim that it is "now the best time to buy", the measures taken by the French leader of real estate promotion, the abandonment of half of its launches of operations on the year 2008 the deletion of slightly more than 7 of its workforce, indicate the opposite. After a first warning about profits less than three months ago, the Group again load the boat and quadruple the invoice of the fall of demand for new housing. But what Nexity dared not admit last July, the stock exchange had already anticipated it, by subtracting since 42 of its value in the title. The group is today valued stock market barely more than the half of its debt, as if the market gradually began to anticipate the end of 2012, when about half of its medium-term loans come to maturity. The height for the 39.8 subsidiary of Caisses d'Epargne, at the time where they prepare their rapprochement with the Banque Populaire group. A shareholder whose sagacity will have several times taken to default because its two listed subsidiaries, Nexity and Natixis, lost 88 of their value over the price at which he entered their capital.
Warranty on invoice
"Short term has no future." The voluntarist motto of Dexia could smile at a time where financial markets are forced to navigate on the day the day if the circumstances were not as serious for the world leader in the financing of local communities. When a company needs the guarantee of three European States to continue making good figure to its providers of funds, it is more easy to preach the word strategic long-term, even this horizon would be part of its genetic heritage. And the Franco-Belgian group will pay the Bill for this new safety net, because the competitors know the price of such a benefit, not to mention taxpayers. Course, his scholarship course rebounded strongly this device which gives time and safety. It displays no less a slump of more than 40 over the price of the capital increase of the last week, which saw the Caisse des Dépôts and the State put EUR 3 billion on the table at 9.90 euro action. At this rate, market capitalization exceeds that of just the amount of this total injection of EUR 6.4 billion. So that the new leadership still has bread on the plate to define a new strategy and protect the group assets to problems.
The tusks of the elephant
Listed on Wall Street since 1916, IBM no longer had much to prove its ability of resistance. The thickness of the leather allowed him to cross both the financial crises that the wars and the technological revolutions. It seems the protection again. In an economy that influenza, its quarterly earnings rose by 20. The company recruiting more than a quarter of its customers in the financial industry, the performance was not obvious. It is even more significant that Big Blue is not merely meet the expectations of investors. It was also reassured by now its forecast of an increase of at least 22 of its annual profits. The recurrence of service contracts with its customers, its implementation in emerging countries, its 6 billion of cash he carved a special place in the world of technology. Nuance having escaped to the market, that slaughtered it last month as the rest of the sector, the giant of Armonk hastily advanced the publication of its results. He thus stopped the bleeding. Remains that its sales growth has slowed from the previous quarter and that uncertainty weighs on the possible reactions of the emerging countries. The elephant has proven that he knew to swim. It is not unsinkable.