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Wall Street is expected in the red pre-meeting Tuesday. Shortly before the opening of the NYSE, the index futures in the Dow Jones, Nasdaq 100 and S & P 500 declined by 0.21% at 10,517 points, from 0.05% to 1883 points and 0.03% to 1133 points.
The U.S. carriers would indeed choose to pocket a share of the gains made last week by caution before a salvo of indicators in the coming days. Especially since the main stock index hit a "low point" there is exactly one year, March 9, 2009. Since the S & P 500 has started the largest rally in history. In one year, the U.S. index has increased by almost 70%!
The next U.S. statistics are expected tomorrow with the traditional weekly report on unemployment. Weekly Market in the United States, will then be placed under the sign consumer.The two major economic indicators this week, published Friday, will be the sales details for the month of February and the preliminary estimate of consumer confidence faxless payday advance .
On the side of values, the U.S. manufacturer of electronic components, Texas Instruments has revised upward its earnings forecast for the first quarter. In a statement released after the close of the NYSE, the group said it now expects sales of between 3.07 and 3.19 billion dollars instead of 2.95 to 3 19 billion expected previously.
Also in the technology sector, Cisco Systems will announce today a new offer to speed internet connections.Analysts said the group could announce as Google, investments in new broadband network.
After the withdrawal of EADS and its U.S. partner Northrop's tanker contract to the Pentagon, whose first installment is only valued at 35 billion dollars, Boeing alone competing.
The fast food chain McDonald's should also facilitate the session after announcing yesterday a 4.8% increase in sales worldwide in February.
The CAC 40 ended the week above 3900 points, to 3910.42 points exactly, powered during the afternoon of Friday figures on U.S. employment. This Friday, the Paris stock exchange has closed up 2.14%, slightly eroded after the previous day. The sessions Monday, Tuesday and Wednesday were marked by increases comfortable leading the progression of the weekly flagship index +7.3% at Paris, from a closing price last Friday of 3640 points.
The United States has published employment figures less bad than expected. The U.S. economy has destroyed 36,000 jobs in February, according to figures released Friday by the Labor Department. It is far better than economists' forecasts. The unemployment rate held steady at 9.7%. But it remains "inadequate", according to President Obama.At the time of closing in Paris on U.S. exchanges were directed upward, the Dow Jones arrogating 0.8% at 10,531 points.
Moreover, German industry has recorded a surprise jump in orders in January, 4.3%, according to provisional figures published on Friday that far exceeds expectations, thanks to a spectacular increase of 7.1% of domestic orders .
The DAX index of 30 blue chips of the Frankfurt Stock Exchange ended Friday up 1.42% at 5877.36 points against 5795.32 the day before closing. The London Stock Exchange closed higher Friday, the FTSE-100 index of leading values winning 72.60 points, or 1.31% over the closing Thursday at 5599.76 points.
After Market (in 21 hours), the U.S. figures reveal consumer credit.
Veolia Environnement in the single red
Veolia Environnement (-4.26% to 23.94 euros) said before market in 2009 have recorded a turnover of 34.55 billion euros, down 3.4% on year, down slightly higher than expected (-2%). The titles are the only ACC to be in red.
Still later publications, Areva announced Thursday after the stock market, a 2009 operating profit up 20% to 501 million euros. The turnover showed an increase of 6.4%, to 14 billion euros and net income group share for 552 million euros (-6.3%). The title has been 1.98%, to 352.3 euros. euros.
NicOx reported Thursday a net loss of 60.4 million euros in 2009, cons -73.9 million euros in 2008.The shares gained 1.01% on 5.98, having outperformed the broad trend in recent sessions.
The markets welcomed the gesture of banks
Side of EADS (+1.98% at 15.95 euros), the client countries of the military transport plane A400M and the European industrial group EADS in Berlin on Friday reached agreement on funding for this project has told AFP the French Minister of Defense Herve Morin.
The banking sector remained well oriented on Friday: Societe Generale (+4.83% to 44.95 euros) eventually leads the CAC 40, BNP Paribas (3.67% to 56.78 euros), Credit Agricole (3.19% to 11.66 euros) and Axa (+3.17% to 15.61 eruos) were searched. Following a meeting with Nicolas Sarkozy at the Elysee, the banks have agreed to reserve 96 billion in financing small and very small.
Casino (-0.38% to 60.20 euros) should start in May its pods, modeled on that of Nespresso. In France, the market for coffee pods is estimated at 1 billion euros, half for Nespresso.
Natixis (0.90% to 3.69%) is under the radar of the AMF. A book published Thursday reveals that the former officers have disclosed false information to markets, in October 2008.
In an interview with the Financial Times, the group's boss, Jean-Bernard Levy, said he was interested in the sale of a mobile frequency by the governor of Brazil. According to analysts, this would require an investment base of over one billion euros.
Ex-Thomson, Technicolor now, trying to straighten up and definitely wants to turn the page.After the creditors and shareholders have approved the restructuring plan to reduce debt by 2.8 billion euros to 1.55 billion euros, Technicolor announced Tuesday in a statement he signed a partnership with 'American Warner Bros., to duplicate and distribute DVDs and Blu-Ray.
The French group said that this contract will generate significant revenues from the third quarter of 2010.
"Associating their expertise in creating entertainment and key technologies associated with the unique experience of Technicolor innovation technology offers many opportunities for both parties," said the president of Technicolor, Frederick Rose.
Weakened by serious financial difficulties, Technicolor has decided to relaunch by signing a strategic partnership with the world leader in terms of volumes of physical media (DVD and Blu-ray combined).
Nicolas Sarkozy has raised the question of how we can more directly Wednesday in his opening speech at the Davos Forum: what is "the role to be played by banks in the economy?" He should get an initial response today ' hui. The bosses of big banks, mainly American and European, will meet with key leaders of the global financial regulation to settle their quarrels.
"The first challenge is to define what should be the basic name of a bank, has publicly acknowledged on Friday Peter Sands, group CEO of Standard Chartered Bank UK, who also co-chairing the Forum 2010, alongside a colleague European Josef Ackermann, head of Deutsche Bank. The meeting will be informal: to probe the kidneys and hearts of some central bankers and regulators in Davos.Including Jean-Claude Trichet, the ECB president, Mario Draghi, Chairman Financial Stability (a creation of the G20), Jaime Caruana, director general of the Bank for International Settlements, Dominique Strauss-Kahn, director IMF, but also representatives of emerging countries, as Zhu Min, vice governor of the People's Bank of China.
In this case it is private financiers who are the plaintiffs. "A new regulation of financial institutions is inevitable, but a regulatory motivated populist policies would be ineffective and harmful," warns a professional who will participate in face-to-face fast payday loans . This fear is taken very seriously since Barack Obama presented his proposals to ban the operations of market equity for commercial banks.With also the possibility of dismantling settlements whose bankruptcy would present a systemic risk.
The Obama plan goes to school
However, these recommendations appear to be in school politics. David Cameron, leader of British Conservative Party, arrived Friday in Davos, it is stored too. In turn, the technical authorities do nothing to minimize the issue of reforms to come. As Jean-Claude Trichet, at a panel on public policy interventions: "On both sides of the Atlantic, governments have had to receive 25% of GDP in the form of guarantees, recapitalizations and buyouts of securities to prevent the collapse of the sector.It would not forgive us if the system does not become more resilient in the future. "
The delegation of bankers in which American Brian Moynihan (Bank of America) and the European Josef Ackermann appeared to play a leading role, is far from presenting a seamless front. Everyone agrees to request a "harmonization of national regulations" (a level playing field in the jargon), but without going to unify the laws of each place.
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At Davos, Sarkozy denounces the excesses of capitalism
"Obama prohibits banks market activities
We have experienced "a crisis of globalization". Inaugurating the 40th World Economic Forum in Davos on Wednesday, Nicolas Sarkozy has led the charge against "financial capitalism" that caused the crisis that shook the world for over a year. Then it was the first time a French president opened the show, Nicolas Sarkozy has criticized the "distortion of capitalism, calling for a establishing a" common morality "to avoid relapse.
He also returned on the role of banks, lending its support to the banking reform and Barack Obama reminding bankers their jobs. "What is the job of the banker?" He asked. "This is not to speculate, but to analyze the risk of credit to finance the development of the economy."If the crisis occurred, "because bankers did more than their job," he said.
In terms of currency, he reiterated the commitment to reform the international monetary system, criticizing the "currency manipulation" personal business card . Citing unnamed Chinese yuan, the French President has condemned these currencies undervalued to prevent any fair world trade. In 2011, when it will chair the G7 and G20, "the France include on the agenda the reform of the monetary system", he again hammered.
Welcoming the decisions of the G20 regulations on bonuses, tax havens, Nicolas Sarkozy announced that France will lead by example and apply the new rules, including Prudential, decided at international level.
On a more general "indecent behavior will not be accepted by public opinion and that no country in the world," he said, castigating the salaries unrelated to the merits. "When you win every time, this is not a market economy." However, he added, "that creates jobs, wealth, many wins, I do not think it's shocking" .
It's going to Crédit Agricole evil SA! After conceding 4.59% Thursday as the bank lost 4.73% shortly after mid-session at 12.295 euros, or one of its lowest levels since three months, and signs for the second consecutive time the highest CAC 40 down and even the entire industry in Europe.
Like BNP Paribas (0.44%) and Societe Generale (0.57%), the entire banking sector is undergoing suffering. But the fall is more brutal for Crédit Agricole. "The strengthening of prudential bank by the Basel Committee" penalizes "greater mutual banks," said Vincent Ganne, strategist IG Markets. He added: "The capital of these banks (mutual) is composed of common shares and ITC (cooperative investment certificates).As stated Vincent Ganne, the Basel Committee intends to require banks that shares are the dominant form of their own funds. However, Credit Agricole has over ICC BNP Paribas or Societe Generale. According to the strategist, Crédit Agricole is expected to retreat further in the short term. In addition, Bank of America-Merrill Lynch recently lowered his rating from "buy" to "neutral."
Basel, Greece, recommendation: Crédit Agricole depression
Lastly, Crédit Agricole suffers for several weeks on fears its exposure to the debt of Greece, including Standard & Poor's, after Fitch downgraded the long-term notes. The rating agency also notes the gradient of two major Greek banks, Eurobank and Alphabank. However, the mutual insurance group is present in Greece, through its subsidiary Emproki. "A greater share of profits should be set aside to build social capital.Outside, Credit Agricole has lagged behind other banks, mainly because of Emporiki should not return to profitability by the end of 2011 "concluded Vincent Ganne.
Over a month, Credit Agricole fell 17%, when the CAC 40 gained 0.6% and the DJ Stoxx European banks down 7%.
Sequences "emotion" and "crop" this Friday at the close of the 49th congress of the CGT in Nantes. Bernard Thibault, exhausted by a week of sometimes heated debates and visibly excited to have been renewed for the fourth time at the head of the CGT, first paid tribute to "six comrades" who leave the executive confederal "after rendered such services. " Among them, two leading figures of this decade: Maryse Dumas, his right arm on employment issues, and Jean-Christophe Le Duigou, the "Mr. Economy and Pensions" of the plant.
Bernard Thibault, who had gathered yesterday on behalf of 88.4% of the votes for the election of the Executive Committee, then cropped activists who have criticized his lack of involvement on the ground and its rapprochement with the CFDT. Particularly highlighting the vote by 77.5% of the delegates of the progress report of the past three years."It's a very honorable to score a direction supposedly cut off from its base," he joked, saying in passing that Nicolas Sarkozy would like to receive the same level of approval of French policy that led to the Elysee.
And the secretary general of the CGT then push the nail against those who disrupted the debate sometimes during the week and gave a divided image of the plant. "It can not be the CGT opposition and majority, he hammered the applause of the audience. There is no line of management, because management implements the guidelines validated by the Congress. "And this is not the great majority of the 1 000 delegates of the 49th Congress which contradict the resolutions of the document guidance for the next three years that received between 73 and 86% of the votes.The CGT knows where it goes, he still drummed, while specifying that the central union will not "attractive if it gives the image that his first battle is internal.
"The Internationale" raised fist
Wishing a CGT "closer, more united and effective," Bernard Thibault has drawn the roadmap for the coming months. "Our priority is the transformation of society," he said. Its power plant will therefore go on retreats launched by Nicolas Sarkozy. "The future of pensions will be the marker for the determination of employee resistance", he warned the head of state. The CGT also ensure that employers does not set wages and employment."The increase in salaries is the key to ending the crisis," he said.
The leader of the CGT has finally made an appointment to his "comrades" for two mobilizations to come: a euromanifestation March 24 to get a boost in employment at European level and a national campaign to defend public services in stride. And said, for those who doubt that the CGT would not wait the end of March "for organiserd'autres appointments and inter-national".
The message is clear: the CGT has not changed, it is always with those who struggle.And the Internationale, sung to finish his fist raised by the Secretary General and the thousands of delegates – admittedly preceded La Marseillaise but sung with more gusto – aimed to demonstrate.
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Last year at the same time, the French automobile factories were preparing to enter into a long hibernation. Most sites of PSA Peugeot Citroen and Renault have lowered the curtain for a month between December and early January. This year, thanks to scrap premiums introduced in Europe, the activity is markedly increased compared to the end of 2008 disaster.
The contrast is particularly clear in PSA, although the production levels of 2007 are still far away. Overall, the French manufacturer's sites will close down between Christmas and New Year's Day for the traditional week of vacation. The group enjoys the success of new models like the Peugeot 3008 or 206 + products in France. Only the plant in Rennes, specializes in upscale, undergo three days of partial unemployment in December.In total, the production of PSA increase of 33.6% in the fourth quarter 2009 over fourth quarter 2008, but remain in decline of 10.2% over the same period in 2007.
Renault also later, production was resumed. The group includes the diamond increased by 50% worldwide in the last quarter compared to 2008. But as the activity of plants was reduced by 45% this time last year, the manufacturer has not regained its pace of two years ago.
Partial unemployment in 2010
If the situation returned to normal on most sites the French Diamond, Douai and Sandouville turn even slow this season. The plant Sandouville near Le Havre, close to the total one week in early December, then to three weeks between December 19 and January 8.After discontinuation of the Vel Satis, it assembles more than the Laguna and Espace, penalized by the penalty green.
He has sold only 30 000 Laguna in France in the first ten months of the year (- 32%) and Area 7 100 (- 27%). Employees are worried, because on this site, where 1 300 jobs were eliminated recently, the assembly of a new model, a utility vehicle, which will begin "in the first half of 2013," said Patrick Pelata Friday, the CEO of Renault, and not, as previously announced, in 2012. Other affected site, Douai, in the North, which makes the Megane Scenic MPV. It will stop more than three weeks from December 17 to January 11.
For 2010, Renault do not expect a return to normal.The manufacturer provides on average 45 days of partial unemployment in its French factories, against 50 to 60 days in 2009, said Friday the CGT, relying on information management. The only consolation, according to an internal agreement, employees of Renault partial unemployment has reached 100% of their salary this year.
This caution is linked to cessation of car scrapping or reducing them next year. The sales may still decline by 6 to 8% in Western Europe in 2010 after an expected decline of 5% in 2009, according to rating agency Fitch Ratings.
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Undermined repeatedly on the effectiveness of measures to support employment developed by the government since the crisis began, Laurent Wauquiez has made a point Tuesday to step unpublished figures in support on the all the devices. "1.5 million people have benefited from various measures implemented since the beginning of the crisis," said Secretary of State for Employment. This does not mean that we have saved 1.5 million jobs, but that it helped or supported 1.5 million people. We are well beyond the goals we set ourselves. "
319 000 employees in total have benefited in the second quarter (against 157 000 at first) device for partial unemployment to better compensate for time not worked (up to 90% of net salary) and, in theory, use this time for training."It is a cultural revolution that operate upstream of redundancies in our country and avoid unemployment during the crossing of the crisis," stated Laurent Wauquiez, however, unable to say how many employees actually receive training to "adapt our productive "and" permit to rebound in the post-crisis.
No crisis of recruitment in the TPE
650 000 hires have been "supported" – that is to say, created or saved – since early February with the device "zero load" which is to exempt from social security contributions while recruitment at the minimum wage. This figure includes the windfall, that is to say that the hiring would have occurred anyway, helps or not. "The objective was to support 700 000 hires in 2009, further noted the Secretary of State.We should get to make as many hires in normal years, avoiding a crisis of recruitment in companies with fewer than 10 employees. "
Another point: 404 000 assisted contracts – subsidized by the state – have been prescribed since the start of the year: 326 000 in the commercial sector (87% of target 2 009) and 78 000 in the non-profit sector ( 78% of target). 125 000 retrenched (an increase in the number of beneficiaries over 500% since 2008) have also benefited from reclassification of a device that provides personalized coaching strengthened and enhanced unemployment compensation.
Its contracts alternately falling from 20% in early 2009 "has been halted" because the emergency plan implemented in the spring. The delay would be well more than 5%."There is even an improvement in the fall compared to last year," said Secretary of State for Employment, for which the government "has managed to save the youth employment because no return ' has not been, as expected, apocalyptic ".
"Confusion about the effects of recovery plan
A new tool to better meet in the jungle of tariffs. The National Ombudsman of Energy on Thursday launched a comparator offers, available on-site www.energie mediateur.fr. Totally independent providers, the service proposes to compare the various offers of electricity and natural gas, according to several criteria: annual price, type of proposed tariff (set by the state or not) or the share of renewable energy included in the tender. And the service is not superfluous. Two years after opening to competition of the energy market, the French are still struggling to find their way. Almost two thirds (58%), unaware that they can indeed leave EDF and GDF Suez, according to an LH2 poll, conducted for the Ombudsman and the Commission for Energy Regulation (CRE). And they are 77% did not know how to switch suppliers.
13,000 claims in 2009
In addition, the mediator of energy is overwhelmed by the claims: 13,000 in 2009, a tenfold increase over 2008! Rates opaque, or billing errors in the meter are the problems most often encountered by consumers. Hence the interest to compare this development which was attended by most energy suppliers at the national level: besides the two heavyweights EDF and GDF Suez, six other energy providers nationally have said yes to proposed: Direct Energy, Planet Yes, Poweo, Alterna, GEG Source of Energy and Altergaz. Only Enercoop declined the offer, saying that this tool does not put enough value in the specificity of its offer, according to the Ombudsman's services.
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