Japanese PM Abe says North Korean missile launch a grave threat to Japan
LONDON, April 29 North Korea's decision to test-fire a ballistic missile represents a grave threat to Japan, Prime Minister Shinzo Abe said in London on Saturday.
Analysts at Nau Securities led by Iñigo Vega initiated on Wednesday coverage of Brazilian private-sector banks Itaú Unibanco Holding SA and Banco Bradesco SA. Vega and his team rated shares of Itaú "buy" with a price target of 40 reais; the rating on Bradesco is "fair value" at a target of 38 reais.
In the case of Itaú, Vega said that while the bank, "like the rest of the industry, lacks earnings momentum given the challenging outlook for revenues in 2013 ... we believe that Itaú's shares are trading at too great a discount to the ratings commanded by lower-quality franchises in Latin America."
For Bradesco, "given the still low visibility on the macroeconomic front, we do not think the upside is high enough to justify a positive view on the stock and also see more upside elsewhere in the sector and the region," Vega and his team said in a note.
BERLIN, April 29 Online fashion retailer Zalando is pondering opening stores in major cities such as London, Paris or Berlin, the company's co-chief executive told Germany's Manager Magazin.