A buoy gapsTo diversify it is good if not mistaken target

If the T-Mobile team won the cycling Tour of France, Deutsche Telekom is losing the Championship of telecoms. Outstripped by the best Latin as Telefonica, the German giant is also much less well than its neighbour of German France Telecom. If all the incumbent operators are more or less to the sentence on their domestic market, the German champion is clearly in tail of platoon. Its turnover decrease not only in the fixed, but in the mobile. While its competitors as FT offset by wireless the inevitable decline in the fixed and limit it with their progress on the Internet, Deutsche Telekom suffered a decline in overall sales by 4 in its first market. Resulting in a decrease of 5.8 per cent of its operating income that can compensate for his performance in the international. But the group headed by Kai - Uwe Ricke has especially disappointed investors by revising down all of its prospects for results for 2006 and 2007. A future in black, which contrasts with the grey of France Telecom which has maintained its forecast of operating despite the settlement of sales income. Despite a fall of 8, yesterday, which resulted in all values Telecom with him, the benefits of the German operator are valued 20 more than those of the French.

False twins of the Benelux

You can do the same job in the same country and display markedly different results. The champion of finance in the Benelux countries, ING, thus reached profit up 15 in the first half, thanks to an advance of 30 in the second quarter, doped by his insurance business soared by 45. His challenger Fortis however distinguished by profit biannual up 29, with the strength of the Bank (36) while the insurance, in modest thrill of 5, the pulling down. If Fortis is 70 of its turnover in the insurance, three quarters of its profits come as the Bank. ING, seemingly more unbalanced since insurance generates 80 of the revenue, is in fact more harmonious as Bank and insurance contribute to half of the profits. The father of the orange book nevertheless expects banking margins under pressure in the second half which could undermine its performance at the time where his activity in insurance should suffer in the United States and Asia. Profile more struck Fortis could paradoxically enable him to take better advantage of this game since it intends to review increased its forecast of increase in earnings per share for the year in the light of the prospects for the second half.

A buoy gaps

To diversify it is good, if not mistaken target. European leader in tourism, TUI had thought wise to strengthen maritime transport at the time when cargo exploded on a background of increased trade with Asia. However it appears that the acquisition, high price, of the Canadian CP Ships dive the marine division in the red and causes a divide-by-four of the Group profit in the second quarter. The movement is even more unfortunate that the increase of 31 of the income of tourism activity has little chance to maintain throughout the year. Recorded this summer by TUI were already at half-mast because Germans have become more relaxed because the World Cup of football and the chikungunya epidemic that has leaded one of its flagship, the meeting destinations. The new potential psychosis of the attacks and disruptions in air travel caused by the events of London will make matters worse. Could not, on the contrary, offset these hazards by shipping itself affected by a lower freight rates, rising oil and higher expectations of restructuring costs, TUI lost on the two tables.