Akcieatrhy (Akcieatrhy.cz)
World markets  |  December 17, 2010 10:12:06

Speculators have a feast or Visa and MasterCard through the center of political struggle



Colosseum

During yesterday's session came under very heavy selling pressure the company providing credit card. The reason was the Fed's statement, which considers hard regulating fees associated with debit cards. Mastercard and Visa immediately fell by more than 10% of which apparently cheered speculators, who rested in rapid trading of these shares and existing shareholders wept heavily for whom the situation is totally overwhelming.

Worse ended yesterday's fight for Visa, which closed with the loss of 12.67% on the value of $ 67.19 (after the market sent to $ 67.48). For the company it was a sad record as the largest one-day drop in its history.

What a technique

Visa shares during the session band attacked a six-month lows. OBV indicator showed a substantial outflow of smart-money, yet the decline was not a weekly, which would convincingly urged to another hard výprodejům (see today). The title looked as far below 20, well below the 50 day moving average and completely deviate from Bollingerova zone. Parabilic SAR but indicates a bearish signal as well as the MACD. Support is evident, however, up to 65 dollars. Visa aktálně traded at 17.88 times its earnings, which is quite interesting awards at 17.02 Mastercard, American Express 14.54 times.

And what is the reason for the decline?

The Fed has proposed a maximum charge for payments by debit cards at 12c, which is converted to a percentage of revenue to reduce these payments by 90%. While analysts expected a reduction of "only" about 40% - 60%. The Fed believes that the reduction polatků should help all consumers. The average fee in 2009 was 44c per transaction, respectively. 1.14%. Fed's proposal also requires that transaction processing can be performed as well as other companies, which of course resulted in a further drop in revenues at the two largest players in this field, V and MA. Banks are also still trying to get concessions from the other charges, so the current situce justifiably raises considerable concern.Payment giants will have to find a way to offset the impact of fee reductions, to satisfy their shareholders.

According to a statement Visi and Mastercard Fed does not take into account a range of costs incurred by operating cards. Next week the company intend to submit an official statement as part of the public comments. The Fed will accept comments until 22 February. The proposal will be completed by 21 April and will come into effect within three months. In other words, be clear by 21 July.

It is true that this type of control is America's misguided and anticompetitive, as he put it, Noah Hunt, General Counsel of MasterCard.

"We are very concerned about this approach, Congress" prohásil Kenneth Clayton, Consul General of American Banking Association. "We think it is necessary to start negotiations from scratch," he said finally.

It is more than likely still see a considerable struggle between corporate sector and regulatory authorities.Shares of the credit card will be so in the next six months, a very treacherous and volatile investment.

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