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Abigail Hofman:

Abigail Hofman:

I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

Bank deleveraging has barely started

Bank deleveraging has barely started

Banks lending money to governments to help fund bank bailouts looks horribly circular

Monday, September 1, 2008

Stock trade shrinks in August.





Stock trade shrinks in August. The trade value on the Prague Stock Exchange (PSE) shrunk by 44.2% y/y to CZK 79.9bn (EUR 3.2bn) in August. Trading with shares decreased by 55.3% y/y to CZK 47.5bn. Most of the transactions are booked with CEZ, Erste Bank, Komercni Banka and Telefonica O2. The trade value of bonds declined by 11.7% y/y to CZK 32.4bn. In August were signed 216 contracts for trades with the 6 futures on the bourse worth CZK 28.2mn, down by 84.1% y/y; the number of trades with investment certificates was 219 and were worth some CZK 3.5mn, down by 72.5% y/y. The market capitalisation of all listed companies reached CZK 1,857bn at end-August, up by 6.9% y/y. Domestic issues accounted for 62.8% (CZK 1,166bn), while the foreign ones amounted to CZK 691.3bn. The three largest issues in terms of market capitalisation were CEZ (CZK 756.8bn, up by 18.7% y/y), Erste Bank (CZK 321.2bn, down by 30.6% y/y), and Telefonica O2 (CZK 168.6bn, down by 13.7% y/y). The stock exchange main PX index lost 17.4% y/y to 1,478.2 points on Aug 28.







I wanted to pay exactly one quid [£1] but my arm was twisted, and we rounded up to $2

Nomura’s Sadeq Sayeed, one of the architects of the bank’s acquisition of Lehman Brothers’ European business, on the deal of a lifetime

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