Winchester whisperer (Free subscription) | 10/01/2008
Dresdner Kleinwort's construction analysts have been touring property agents and consultants in Birmingham, Manchester, Leeds and Sheffield. The six leading property agents in Leeds have sold 6 new apartments between them in the last two months. Barratt in Yorkshire is offering discounts of up to 43% on bulk buys of at least 5 units. In all four cities, agents spoke of massive over-supply of...
The Earth Times Online Newspaper (Free subscription) | yesterday
... paying some 16.8 billion euros. On Monday, financial analysts from SNS Securities, Petercam and Dresdner Kleinwort calculated the stock value of Fortis at the Dutch exchanges around 8.225 billion euros. If accurate, then each of the 2.35 billion shares is worth 3.5 euros per share. As the stock exchanged closed on Friday, Fortis was still worth 5.41 per share. Fortis has been transferred...
Reuters UK (Free subscription) | yesterday
... shares at 3.8 euros, adding it expected them to trade at a "meaningful" discount to that level. Dresdner Kleinwort, putting the value at 4 euros, said it had downgraded its recommendation back to Reduce from Hold, with a target price of 3.5 euros. The Dutch state nationalised all of Fortis's operations in the Netherlands, including its part of ABN AMRO, while BNP Paribas took a 75 percent...
theRatandMouse (Free subscription) | 10/01/2008
(Offer good in selected regions only.) The story is that City analysts Dresdner Kleinwort have seen documents traced back to Barratt's Yorkshire East offices offering discounts of up to 43%. More here. Technorati Tags: property, real estate...
Anorak News (Free subscription) | 10/01/2008
This afternoon, as reported in the Newy York Times, the money markets ceased to exist. “The money markets have completely broken down, with no trading taking place at all,” said Christoph Rieger, a fixed-income strategist at Dresdner Kleinwort in Frankfurt. “There is no market any more. Central banks are the only providers of cash to the [...]
SOCIALISM OR YOUR MONEY BACK (Free subscription) | 10/01/2008
The depth of the malaise facing the UK housing market was amplified by a research note by Dresdner Kleinwort. This follows the revelation that mortgage approvals from August this year were 98 per cent lower than at the same time the previous year. Dresdner has been researching the situation in the midlands and north of England, stating: "We believe quoted housebuilders could be forced to issue...
Calculated Risk (Free subscription) | 09/30/2008
"The money markets have completely broken down, with no trading taking place at all. There is no market any more." Christoph Rieger, Dresdner Kleinwort in Frankfurt, Sept 30, 2008From Bloomberg: Libor Surges Most on Record After U.S. Congress Rejects Bailout The London interbank offered rate, or Libor, that banks charge each other for such loans climbed 431 basis points to an all-time high of...
The Independent (Free subscription) | 10/03/2008
Timothy Shaw at broker Citi said he believed lower orders from its main phone-handset customers were most likely to have been the cause of the setback. The view was shared by broker Dresdner Kleinwort. "We suspect the Apple iPhone3G may have been partly responsible. There have been reports Apple has cut its production target for 2008 by 20 per cent to 14 million units."
Financial Time (Free subscription) | 10/02/2008
At the top end of the market, the recently announced sales of Dresdner Kleinwort, Merrill Lynch and the European business of Lehman Brothers are widely expected to prompt many FTSE 350 companies to reconsider their corporate broker and financial adviser relationships. Further down the scale, the economic woes of many small- and mid-cap stockbrokers are sending some of their clients out to look...
The Big Picture (Free subscription) | 09/30/2008
"The money markets have completely broken down, with no trading taking place at all. There is no market any more. Central banks are the only providers of cash to the market, no-one else is lending.'' -Christoph Rieger, a fixed- income strategist, Dresdner Kleinwort. > The London interbank offered rate reached an all time high yesterday on the failure of the bailout plan, and the market sell...
The Telegraph (Free subscription) | 10/03/2008
... on the operations of Landsbanki Securities." Analysts screen next options For aficionados of Dresdner Kleinwort's analyst notes, it could well be "Shaken not Stirred" – the headline from one of this week's offerings. The phrase not only does a neat job of summing up what has been going on in the markets in the past five days, it also fulfils the "theme of the week" criteria the analysts...
Reuters (Free subscription) | 10/02/2008
... ."The underlying claims reflect an upward trend in unemployment," said Dana Saporta, economist at Dresdner Kleinwort Securities LLC in New York."The unemployment rate may settle back to 6 percent temporarily due to the teenagers going back to school from their summer job search," Saporta said.But "our view is the unemployment rate will peak about 6.7 percent next year," Saporta said.Steve...
Daily Mail online | Home (Free subscription) | 10/02/2008
... mounting that developers are adopting the 'pile them high and sell them cheap' approach.City firm Dresdner Kleinwort has unearthed evidence that Barratt has given discounts of up to 43 per cent to investors prepared to buy five or more flats in East Yorkshire.Barrett Developments insisted the examples are 'isolated'. A spokesman said: 'The discounts aren't representative of the company's...
The Sun (Free subscription) | 10/02/2008
... who buy five or more apartments in East Yorkshire will be given 43 per cent off, says city firm Dresdner Kleinwort. Other firms may soon be forced to follow suit. Analyst Alastair Stewart called the situation “carnage beyond even our most bearish expectations”. Mortgage lender Halifax has already revealed house prices have slumped ten per cent in a year. The news came as the slowdown claimed...
Reuters (Free subscription) | 09/29/2008
... definitely moving toward Europe," said Joseph Kraft, head of Japan capital markets at Dresdner Kleinwort. "It's the beginning of the end and a necessary step, so we should see more institutions nationalized, absorbed or going into default."The latest upheaval will only worsen the severe strains in money markets as financial firms have stopped lending to each other, partly as they prepare...
