On Thursday Credit Suisse cut their 2010-2012 earnings estimates and price targets for all the Spanish banks they cover by an average 11 and 7 per cent, respectively. They currently have underperform ratings on purely domestic Spanish banks, a neutral on BBVA and an outperform on Santander.
sell iShares MSCI-Spain (EWP);
Japan Equity FUnd January 2010 Monthly Review
Under each tender offer program, if a Fund’s common stock trades at an average daily discount to net asset value (“NAV”) of greater than 10% during a 12-week measurement period, the Fund will conduct a tender offer for between 5% and 20% of its outstanding common stock at a price equal to 98% of its NAV determined on the day the tender offer expires. Each Fund has determined that its next measurement period shall commence on February 19, 2010 and end on May 14, 2010 (the “Measurem