Banco Popolare in large upward after the half-year figures: the first half of 2014 has been archived with a sharp drop in net profit to € 6 million (from 156 million a year ago) after adjustments to receivables for € 620 million (+ 41.5% y / y) and the impact the fair value option for 24.7 million. The CEO, Pier Francesco Saviotti, during the conference call said they are in the course of negotiations for the sale of a package of loans of approximately EUR 300-400 million. The prices have touched with the minimum of the last two sessions of last eighth in area 9,65 / 70 the base of the downward drawn from the April top scoring then a robust rebound. And the reaction ‘was favored, as well as by the presence of the support mentioned, also evident from the oversold condition achieved by the indicators (the Rsi to 14 days and’ into the box 30/100). The break of 10.69, top of August 7, paves the way for an extended correction of the descent of the last two weeks. First target at 12.05 euro, trend line coming down from the top of June. Beyond that threshold would be possible to complete the crossing of the canal up to test its upper side, in area 13,80 (intermediate resistance at 13.18, 100-day moving average). Below the minimum target of 9.65 to 8.90, a minimum of 4 February.
(AM)
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