Known for its copious specialties, the German stock market kitchen adds a new recipe: minority control. Porsche had opened the way to capturing, in fact, the wheel in Volkswagen with less than a third of the capital. Schaeffler brought this summer his helping hand by testing on the Continental Tyre, the ways in four time. It is now the turn of Deutsche Bank to concoct a future uptake of Deutsche Postbank without immediately pay the price. The banking subsidiary of the German position would avoid the first private bank of German losing his Crown to the new Commerzbank-Dresdner tandem. But for the Group of Josef Ackermann, Postbank has all fruit defended. Even the fall of 25 percent of Postbank on the stock market action since January is not sufficient to mitigate a note which would be salt: around, complete of EUR 2.5 billion for a block of 30 of the capital slightly more than the net profit that hard should win this year Deutsche Bank. Relatively spared by the financial crisis, Spanish Santander has set foot in the flat by offering to all of the participation of Deutsche Post in Postbank. But it is unlikely that its grain of salt change the taste of a menu seasoned economic patriotism.
The faith of the Mérieux
Medical research, with all its imponderables, accords well with agnosticism. The Lyon Group of diagnosis in vitro bioMérieux believes, him, in "theranostic", to customize the therapies through the biological tests of discipline. Weighing the best 800 million in 2007 about 2 of biology analyses in the world in value , this market is still at an embryonic stage, but it is precisely he prefers the specialist of the tubes. By purchasing the technologies of the Californian AviaraDx in markers of cancer, one year after a partnership with the pharmaceutical Ipsen in this area, the Group controlled 58.9 by the Mérieux family proves its belief in the future of this technique while healing chronic balance underutilization fourteen times richer in capital the amount of the acquisition. But promises of a return on investment appear too far off in the stock market, which has lost faith in the title and broke its dynamics. Declined by about 18 since January, action is now almost in line with the Paris indices, whereas it had risen twice strong during the three years and a half earlier. Showing that investors can be very reactive, even with a value that combines the defensive virtues.
Bad news can conceal a good or of a less bad than it seems. It would have been naturally more simple that the American command of air-to-air refueling tankers to the tandem formed by Northrop Grumman and EADS was endorsed in the spring by the Court of Auditors American. From the moment where this was not the case, it may be preferable to postpone the debate beyond the election campaign, period unconducive to the choice of a foreign supplier. However, this report is not the cause of the continuation of the rebound of the title, which has already returned to 50 of its value since its point low mid-July. According to the calculations of Oddo Securities, the impact of the agreement on the value of the title is more than twice as less than a variation of 5 cents on parity entering. The 18 cents already earned in recent weeks lead to a re-evaluation of 1.8 billion euros on the result of operation of EADS, an effect of six to eight times higher than would have been the contract. Short term home EADS can therefore blow. But whatever the evolution of the greenback, she cannot keep such an imbalance between its costs in euros and revenues in dollars. The realization of a large contract to export would help it to achieve without social pain. Should soon be good news.