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  • A SUPPLEMENT TO EUROMONEY
  • Issuer: Canal+
    Amount: Ffr2 billion, exchangeable into shares of Mediaset
    Launched: February 12
    Lead manager: Lehman Brothers, UBS
  • By the middle of last month the Dax equity index had risen to over 3200 points. Analysts had already predicted a 3200 high point for the entire year. But as investors swarm in, there is no sign that their enthusiasm will break
  • Latin American bank earnings will expand faster than the region's expected 5% annual GDP growth. This time, though, with crisis-induced shake-outs, consolidation, foreign investment and competition, growth should have a solid footing. Jennifer Tierney reports.
  • Country Risk: Switzerland takes a tumble
  • Investors have piled into Czech koruna Eurobonds since they were first issued last year. Issuers too have continued to be attracted by favourable swap opportunities. Can the interest be sustained or is the vaunted model market for central and eastern Europe flashy but short of take-off power? Catherine Garner reports.
  • German patriots are already bemoaning the abolition of the Deutschmark after European monetary union; they should be concerned about the demise of the German capital market too. By Laura Covill
  • January's dreadful German unemployment figure is the most politically significant euro event since the Dublin summit. Chancellor Kohl was always seen to be more powerful from abroad than he was in reality at home. He is now seen as a chancellor with a great plan for European integration and no strategy for German economic rejuvenation.
  • The drift from Frankfurt to London gets ever stronger at Deutsche Bank. The January issue of staff magazine International Forum chalked up one further milestone in the exodus when it announced it too has moved from the Finanzplatz.
  • In a few years the merger between Morgan Stanley and Dean Witter will appear epoch-making. It will mark a change in the trend of financial mergers away from flashy cross-border deals to more workaday domestic ones.
  • Environmental legislation is getting tougher and bankers need to study it carefully. The simple act of lending to a company in environmental trouble may make the bank liable. By Christopher Stoakes.