By opening on Friday morning, the 4th Forum of Avignon on the culture and economy, Nicolas Sarkozy had some reassuring news in your pocket for professionals. For him, culture is a necessary good and, in these times of economic uncertainty, we must invest voluntarily. "We have not cut the budgets of culture from three years of crisis. In contrast, the response of France to the crisis has gone through a massive investment in culture. In hard-hit areas, such as the Mosel and the North, we built the Beaubourg Metz, and the Louvre in Lens will be a success, "he said.
Before an audience of cultural professionals, including the French publishers, Nicolas Sarkozy returned to the increase of 1.5 point in the reduced VAT rate on the physical book to bring it to 7% from 1 January cash advance america."Paradoxically, this increase protects the area because all professionals have realized that it was in their interest to contribute to the effort to reduce deficits." But the head of state immediately announced a good news that has filled editors: "From 1 January, we will apply the reduced VAT rate of 7% on digital books, because there is no reason that the same cultural property should be taxed differently if it is on a support physical or digital. I hope the Commission will not oppose this initiative. "The alignment of VAT rates between the physical and the digital book (currently taxed at 19.6%) is the culmination of a struggle of several years.
However there will be a single new domestic or international flight anywhere in the world. "Qantas said its employees will be denied access to the company as of Monday morning.
Faced with a large section of its employees challenging the group's policy, management of the company has chosen the hard way to break the impasse. Calling itself the decision "incredible", Alan Joyce, Qantas's boss, said that "the aircraft will be grounded as long as necessary for the situation to an end," at a conference Press convened a hurry on Saturday. No way for him to accede to the request of trade unions, which he said, "Qantas would destroy the long term."
Retrenchment and redeployment in Asia
What technicians, ground staff and pilots claim, it is mainly wage increases.
In the wake of European stock exchanges and the CAC 40, the U.S. markets aparaissent significantly in the red on Friday, amid disagreements with the ECB and debt crisis. At the close, the Nasdaq and Standard & Poors'500 100 respectively lost 2.67% to 1154.23 points and 2467.99 points to 2.42%. As for Dow Jones, falling 2.69% to 10,992.13 points. This is the biggest drop in Wall Street during the past three weeks.
Markets such as increased losses when Jürgen Stark, member of the Executive Board of the ECB, announced his resignation for "personal reasons", the statement of the institution. The chief economist of the institution has repeatedly expressed his opposition in recent weeks to buyback of government bonds led the ECB to ease the most fragile countries in the euro area.To this must be added the increasing fears of a major failure of Greece that have undermined investor sentiment. "The markets are falling heavily as the big concern is about the crisis of sovereign debt in Europe, especially in Greece," summarized Peter Cardillo, Rockwell Global Capital.
According to analysts, the drop is also due Friday the threat of attack ten years to the day after the attacks against the twin towers of World Trade Center. Washington said Friday morning that al Qaeda was behind the threat of attack "specific, credible but unconfirmed."
In addition, markets have shown little convinced by the stimulus of employment presented by Barack Obama on the eve of 447 billion.Operators are skeptical that the U.S. president to implement his program because of opposition from his Republican opponents that could block the vote.
Expectations related to the G7 Finance
To this must be added the words of Christine Lagarde, Executive Director of the IMF, stressed the urgent need for additional capital banks.So far, investors have also expressed no confidence in the discussions of the G7 finance that opened Friday in London to try to find an answer to the crisis.
Another item, from China, was not enough to appease both sides of the Atlantic: Inflation has indeed slowed in China in August, which removes the fear that Beijing tighten monetary policy .
On the macroeconomic front, wholesale inventories reached a record high in July, rising 0.8% to 462.4 billion dollars, an unprecedented amount, in line with market expectations. Note that a first estimate of consumer confidence from the University of Michigan for the month of September is expected in the afternoon.
As for the euro, it is at present weighed down by concerns about increasing the economic health of the euro area and the global economic recovery.At the close of the New York Stock Exchange, the European currency fell to 1.3658 dollar (-1.63%), its lowest level since Feb. 23. For its part, the oil has finished on a decline, a barrel of "light sweet crude" for October delivery ended at 87.24 dollars, down 1.81 dollars compared to the previous day.
Threats to jobs at Bank of America
On the corporate side, no major publication was in sight Friday.
The job cuts planned by the management of Bank of America (-3.05% to 6.980 dollars) as part of its restructuring plan could affect 40,000 people, said Friday the Wall Street Journal Online, citing sources familiar with the . The group identified on 30 June nearly 288,000 employees. So far, estimates of job losses were around 30,000, while many banks worldwide have announced significant staff reductions.These reductions would occur as part of an extensive research program savings called "Project LAC", the acronym by which exchanged the title of the institution to the New York Stock Exchange.
Texas Instruments (1.08% to 26.08 dollars) remains small increase, after a warning issued Thursday night on its third quarter results, citing a decline in demand for semiconductors. IT had already warned in July that the current quarter would be modest. The group emphasized that this time the request had deteriorated to "a wide range of products, markets." The manufacturer of components that go particularly in the manufacture of mobile phones and automotive electronics, said now anticipate earnings per share between 56 cents and 60 against a previous range stretching from 55 to 65 cents.
Solidarity and ecological travel. The idea is gaining ground in the minds of many tourists in the summer. This practice has a name very trend: the "sustainable tourism". According to the definition given by the World Tourism Organization (WTO), it is a holiday that "meets the needs of present tourists and host regions while protecting and enhancing opportunities for the future. "
Whether it's a humanitarian mission in Africa, a trek in the Sahara or the ascent of Kilimanjaro, this type of travel always organized around four themes, according to Yann Legendre, coordinator at Libertalia specialist stays abroad lasting. The first two are the exchange and outreach to the local economy. "Sustainable Travel, accommodation is homestay or in hotels, buy food at the local producer, operate a local bus," said he.Next is the protection of the environment. Specific example: instead of buying bottled water which may pollute the tour operator is investing in a filter pump. "We saved the purchase of 9,500 bottles last year," notes Libertalia. There remains one of the most important aspects: the local development projects. This is not a logic of love ", explained Yann Legendre. "We have identified local actors engaged in a dynamic project that we donate 30 to 60 euros per passenger," he adds.
For those who opt for sustainable tourism in the Hexagon, the basics are the same. In the villages of the network Cap France, vacationers are being such offer "kits picnic" without any packaging pollutant. They sort the waste, swim in heated pools with solar panels and eat fresh produce from local agriculture."This is a tourist friendly environment with a local proximity and social," says Jean-Michel Coeff, president of the network.
Contrary to popular belief, sustainable travel is not more expensive. "Investments are included gradually over time," says Jean-Michel Coeff. For trips abroad, the price stays is generally equivalent to those of traditional tour operators and even cheaper because the organizers did not pay any commission to providers or agencies over.
Boom offers
Since the early 2000s, the offers are multiplying on the web. Tour operators who are responsible are mostly from small associative structures are already active in the sector sustainable. But the traditional tour operators are also well represented on the niche, the image of Voyageurs du Monde instant payday loan lenders.The travel specialist tailor even claims to have adopted this approach for many years. "It's not just a fad, it is a binding approach we impose," said Frederic Lavaud, project sustainability. According to the latter, responsible tourism has become a corporate philosophy: "We have adopted a responsible for all travels. We check for instance that our partners pay their employees well. We have a corporate foundation which helps local people. In Asia, some of our destinations travelers take away the excluded villages now live a little better through these visits, "he adds. According to International Travelers, the client would become very attentive to these questions: "People are sensitive to the choice of partners and very critical if we are not in line with what we propose.This is progress. "
Libertalia confirms the trend: "Our customer base is doubling every year since 2007. There is a real awareness, a desire to return to the essence of the journey is the encounter and discovery. "
Credibility problem
Despite this enthusiasm, the trip is still a sustainable niche. According to the WTO, the 935 million tourists who took the road last year, it represents only a small portion still unencrypted. For if consciousness is actually at work, the acting out takes longer than expected. "There is still a gap between this important awareness and its translation in terms of holidays. For tourists, vacation means living without constraints. People do not want to be imposed on things, "admits Jean-Michel Coeff."And for some it is a concept bobo, an ecological cult," he adds.
This credibility problem, mentioned by several tour operators, requires the industry to organize. In 2004, a group of tour operators create the Association of Tour Operators Themes (ATT). The last issue to each operator audited by the certification body AFNOR label "Acting for Responsible Tourism (ATR)." But this system is far from unanimous. "The criteria are too light and too expensive certification" portion Libertalia who prefers to make his own evaluation grid. For its part, France Cape Town in 2004 launched his own label Owl Nature. In short, it is still difficult at the moment to see clearly.
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LE FIGARO. -The markets are highly concerned in recent weeks of debt crises. In this context, the economy has not she also helped to disrupt?
Jean-Michel SIX. -If, of course. And we must start by saying that in times of summer holidays, the markets, which were then much lower volumes, overreact to any new economic situation. The lower the index is up or dive in a much more important than what happens in winter.
Right now, they are rather dive …
For several months, both sides of the Atlantic, the signals on growth are not good. United States, including employment prospects are very disappointing. In fact, employment is not really left since the 2008 financial crisis.Labor mobility is limited due to the housing crisis: moving to take a new position, which is much the United States, is difficult because it becomes difficult to sell his house. As for household consumption, it is significantly weakened by the debt levels of Americans. A total of 2011 should result in a 2% growth, which is very disappointing for the U.S., where the pace of activity is generally much higher than in Europe.
Europe, precisely, is it in a perilous situation?
The problem of Europe is the growing divergence between North and South. This is something that worries the markets, which are asking what does that mean in terms of consistency of the euro area.Then, after a strong first quarter, it was believed that the air hole is the second passenger (once the effects of the earthquake in Japan absorbed and oil back to lower levels). But we realize that the sequence is also likely to be poor.
Markets can they regain composure?
It is quite possible to restore calm in September thanks to coordinated action. What happened in July is that we have simultaneously witnessed a loss of U.S. leadership, unable to break the deadlock of debt and a crisis of leadership in Europe in a context crisis on public finances. This is exactly the opposite which would have required!
So how about it?
First, we must continue the work on European Governance. This is critical. Second, the timing of implementation of the second plan is important for Greece.The European Financial Stability Fund will be endowed with significant firepower, which is to say the least-welcome, but there is some impatience markets. It is important not to drag the national parliaments to adopt the device. The political signal must come quickly. Finally, the ECB has played its role, it must continue to appear reassuring.
That's what she tried to Thursday …
The measures announced by President Trichet, in particular the resumption of purchases by the ECB on secondary markets, are extremely positive.
Investors do they always trust in the euro area?
Yes. Investor confidence, especially in emerging countries has not disappeared. She even remained strong, as evidenced by the excellent performance of the euro since the beginning of the crisis.The euro zone faces a crisis of governance, not a crisis of its currency.
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Raising the U.S. debt ceiling on Tuesday night after a Senate vote, did not end concerns. The harshest criticism emanating from the largest creditor of the United States, China. Washington failed to "defuse the debt bomb," has dealt the official news agency Xinhua on Wednesday morning.
To support this message, the governor of the central bank, Zhou Xiaochuan, announced that "foreign exchange reserves of China will continue to follow the principles of investment diversification and risk management." Clearly, the portion of funds invested in dollar continue to fall. "Large fluctuations and uncertainty in the market for Treasuries have an impact on the stability of the international monetary and financial system, and could affect the global economic recovery," said the Chinese official.Beijing has to worry: he has financial reserves of the largest in the world, or about 3.197 trillion dollars at the end of June, of which 1.16 trillion invested in U.S. Treasury.
The rating agency Dagong China has also downgraded the U.S. of A + to A, away from the AAA provided by Western agencies. She said raising the debt ceiling will "worsen" the situation. The show divisions between Republicans and Democrats in recent months "reflects the government's inability to solve the problem" of American finance, said she.
"A first step"
More lenient, Moody's affirmed the AAA rating of the United States, while combining it with a negative outlook. "The agreement voted Tuesday night is the first step to recovery of public accounts," she observed in a statement.But the financial health of the world's largest economy, and therefore its rating could be threatened if new austerity measures are not adopted in 2013, even if growth slows, or in case of sudden rise in interest rates.
The rating agency Fitch for its part, said Wednesday morning in a statement that it believes "the risk of default of the United States is extremely low." However, "the United States, like most countries in Europe, must confront difficult choices about taxes and spending in a sluggish economic recovery," and sufficient to redress public finances. Fitch confirmed Tuesday night the American note.
Standard & Poor's, the most influential of the three Western rating agencies, has not yet officially expressed.The director of sovereign ratings Takahira Ogawa, however, tried on Wednesday morning to alleviate the issues of possible degradation, "the market has to some extent already recognized the potential risk of a downgrade American." S & P had warned during the negotiations on the ceiling of the debt: the United States should save 4 trillion dollars over the next ten years to maintain their AAA. The plan adopted only on table 2.4 trillion.
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»COMPUTER GRAPHICS – The world seen by the rating agencies
What are the consequences of a decline in the rating "AAA" American? The risk increases after a prolonged disagreement between Republicans and Democrats on the management of U.S. debt. The problem may seem far from the concerns of citizens, but U.S. President Barack Obama warned, "If we lose the AAA, everyone will pay more taxes. This will cause a rise in interest rates, which would have the same effect as raising taxes on all Americans. "And to raise the specter of rising rates of car loans on credit cards and in real estate.
Banks lend to their clients because at rates directly correlated to the performance of bonds. However, the higher the rating of a country, the lower the rates at which it must borrow increases.According to rating agency Standard & Poor's, the loss of "AAA" could cost between 0.25 and 0.5% growth rate in the United States. Analysis challenged by some economists, who point out that Japan, after seeing his note deteriorated in the early 2000s, had seen the contrary interest rates fall.
"Zero risk"
Still, never in the history of the United States has lost their prestigious note, despite a technical default part in 1979 (a few dates could not be met on time). It symbolized far "zero risk" to markets, which could buy U.S. debt with the confidence of being repaid.
A decline in the note, a real paradigm shift, "would affect the actions and change," warns Ciaran O'Hagan, strategist at Societe Generale. How much? Hard to say.The United States never lost their prestigious note, "the unprecedented nature of this reduction makes it difficult to determine all the ramifications of the financial markets and the economy," says agency Fitch.
Thus, it is not clear that the long-term investors seeking safe investments are fleeing the U.S. Treasury. For example, foreign central banks, which own 33% of U.S. debt, will not sell their shares, say analysts surveyed after UBS interested. According to Fitch, the Treasury will keep the short and medium term "their status as reference for interest rate markets."Clearly, there will be no widespread panic in the market for U.S. debt.
More than a threat to the United States themselves, "noted a deterioration in the U.S. crystallize the challenges for all developed countries, probably by opening the way for the degradation of other countries," says Jean- Baptiste Pethe, Exane BNP Paribas. If the U.S. lose their "AAA", France and the UK may well follow. The United States could then argue them, as Secretary of the Treasury Nixon had done about the dollar, "it is our rating, but your problem".
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For the 9th consecutive year, the Great Place to Work Institute (GPTW) publishes its list of the companies in which to work in Europe. With a small change this year: the two traditional classifications of societies and more than 500 employees, has added the business called "multinational". Test required to integrate this category have been nationally ranked "business in which to work" in at least three countries.
Filed in 16 countries throughout Europe, Microsoft wins first place in the top 25 multinational companies. The U.S. computer giant is closely followed by two compatriots: the biotechnology company Amgen (Applied Molecular Genetics) and the food group Mars.
The CAC 40 continues on the path of this increase jeudi.Les early trade on start up from 0.68% to 4095.42 points. As in Asia, Paris markets in turn react positively to the long-awaited announcement of the Fed on U.S. rates. The latter decided to pousuivre monetary policy accommodative for a prolonged period. Following these findings, Wall Street has ended sharply higher on Wednesday and the Nasdaq hit its highest level in ten years.
On other European markets, the upward trend is also valid. The London Stock Exchange has opened up 0.32% to 6087.6 points. For its part, the DAX index of the Frankfurt Stock Exchange gained 0.62% to 7450.57 points.
But investors remain wary.Several key statistics are expected across the Atlantic on Thursday, beginning with the first estimate of first quarter GDP and weekly jobless claims (1430). The promises of sales in March are also expected (16 hours). The ball quarterly publications will also be given to: Procter & Gamble, Microsoft, Expedia and Colgate Palmolive are scheduled.
Side currency, the euro climbed sharply against the dollar since the Fed announcement. The single currency traded 1.4862 dollar. On oil markets, a barrel of light sweet crude for June delivery gained 61 cents to 113.37 dollars while that of Brent North Sea also June delivery increased 62 cents to 125.75 dollars.
Rafale PUBLICATION IN
As for French companies, investors will also have enough to do:
Saffron: 3.80% to 24.99 euros (largest increase in the SBF 120)
The group announced on Thursday a rise in its quarterly revenue exceeding its target for the year, driven by activities of aerial and optronics, and reaffirmed its forecast for 2011 and its confidence for the following years.
Eramet: 0.43% to 270.45 euros
The mining group has achieved a turnover of 973 million euros in the first quarter, up 23%, thanks to increases of 35% nickel and 30% in alloys.Its operating income should be at least semi-equal to the corresponding period of 2010 excluding special items, after a surge in sales in the first quarter.
Gemalto: -0.37% to 34.93 euros
World number one smart card noted in the first quarter up 17% of its sales to 444 million euros a year, driven by its main activities. It confirms its outlook for fiscal 2011.
Technip: -2.65% to 74.81 euros
The specialist oil and gas equipment announced better than expected margins in the first quarter and confirmed its overall outlook for 2011. He always aims for this year a turnover of approximately 6,500 to 6.7 billion euros against 6.082 billion in 2010.
Sanofi-Aventis: +0.15% to 53.34 euros
The group released on Thursday quarterly earnings affected by competition from generics, but slightly better than expected and announced that its annual results would be reviewed during the semester. In late March, the turnover came out down 1.5% to 7.78 billion euros, generics that cost him 569 million euros in turnover over the first quarter of 2010.
Suez Environnement: 3.15% to 15.39 euros (largest increase in the ACC)
The group has published performance increase in the first quarter thanks to strong growth internationally, and has confirmed all its targets for the period 2011-2013.The turnover reached 3.514 billion euros in the first quarter, registering an increase of 14.3% (+13.5% at constant exchange rates), while EBITDA was $ 592 million, an increase of 28.6% (+25.6% at constant exchange rates).
Imerys: -0.32% to 52.50 euros
The group announced on Thursday a net improvement in its quarterly results, benefiting in particular the improvement of the construction market in France, said he expected an improvement in its performance throughout the year. Imerys has improved its operating margin by 1.9 points to 13.2% and increased its turnover by 13.7% at constant exchange rates to 882.7 million euros in the first quarter.
PPR: 1.94% to 120.75 euros
The group saw sales jump 26% in luxury in the first quarter, boosted by a dynamic Asian still as powerful and a brilliant performance in the United States.
Gameloft: 4.80% to 4.80 euros
The group announced a 20% growth of its turnover in the first quarter of 2011 to 39,500,000 euros. The company anticipates a year again growing at its turnover and profitability.
NextRadioTV: 0.32% to 15.70 euros
The media group has announced a turnover up 14% to 35 million euros, 15.7 million (+15%) for its flagship radio and 10.2 million for its TV division (+25%) . He announces "positive outlook for the first half of 2011."
Technicolor: -2.10% to 5.12 euros
The group announced on Thursday a rise of 15.4% of its turnover to 812 million euros in first quarter (+16.2% at constant exchange rates) and confirmed its targets 2011.
Always on the side of publications, after market, Saint-Gobain, Sechilienne-Sidec, Crit and Vinci will unveil their turnover in the first quarter.Compagnie des Alpes will unveil its second quarter revenues. The results of the first quarter of Sequana, Saft, and Bongrain are also expected.
Eurotunnel, Danone and Plastic Omnium will hold their general meetings respectively 10:15, 14:30 and 17 hours.
Ipsos confirms its objectives
Ingenico: -0.23% to 32.72 euros
The group raised its growth target for 2011. It is now targeting sales at constant scope and exchange rates, greater than or equal to 985 million euros, while it had announced a target located between 965 and 985 million euros.
Ipsos: 0.33% to 35.48 euros
The group confirmed its targets for 2011 after recording an increase of 6.2% of its turnover in the first quarter despite the continuing fall in the market for public education in Britain.
Klépierre: -0.39% to 27.04 euros
The group announced a slight increase in rents in the first quarter, thanks to its shopping centers, despite a slowdown in consumption in Europe.
Unibail-Rodamco: 0.97% to 156.56 euros
The group has appointed Christophe Cuvillier, former CEO of FNAC and Conforama, the Executive Group property as "General Manager Operations."He replaces Michel Dessolain, board member since 2007, appointed Director General of the strategy.
New field for Total
Total: 0.85% to 42.95 euros
The oil discovered in south-eastern Bolivia a major gas field that could initially produce up to 6.5 million m3 per day.
Bioalliance Pharma: 1.49% to 6.14 euros
The group has announced an expansion in Germany and Spain for its Phase II clinical trial of clonidine Lauriad in patients with cancer of the head and neck.
The weak dollar gives momentum to the barrel
Last week, things had begun badly for oil. First S & P warns on U.S. debt. Then, the Saudi oil minister who says the market is "supplied in abundance." A statement also expressed by the secretary general of OPEC, Abdullah El Badri, during the weekend. "If OPEC is ready to say this is that there must be a lot of oil on the market," observed Rich Ilczyszyn, Lind-Waldock to justify the price decline that day, to 107.12 dollars per barrel of light sweet crude for May delivery in New York and 121.85 dollars in London.
But on Tuesday, the dollar's sharp fall came to give a fillip to trade. The U.S. currency fell to its lowest level since January 2010 against the euro, which climbed to over $ 1.46.Such movement makes the crude in dollars more attractive to buyers provided with other currencies. Prices ended the week (shortened due to Easter) to 112.29 dollars in New York (five dollars between Monday and Thursday) and 124.38 dollars in London.
This reversal of trend, which intensified throughout the rest of the week, is also due to concerns over the situation in Nigeria. The political situation is very tense in the wake of presidential elections. The outgoing Head of State Goodluck Jonathan was proclaimed winner, an announcement welcomed by deadly riots. However, the country's largest producer of black gold of the African continent. "Its oil is also a substitute for oil in Libya. If production losses in Nigeria also intervened, this would result in a shortage of high quality oil, "commented analyst at Commerzbank.
In the background, geopolitical tensions in the Middle East kept the risk premium allocated to oil prices. The clashes were continuing in Libya between rebels and forces loyal to leader Muammar Gaddafi, while calls to demonstrate continued in Syria and Yemen.
Base Metals
Aluminum, LME superstar
The overall weakness of the dollar pushes investors to put their money in other commodities as oil to protect against loss of value of their assets. Base metals have therefore also benefited.
Aluminum is the winner of the week. Prices went up to 2,750.25 dollars per tonne, its highest since August 2008. In addition to the weak dollar, they have benefited from the announcement by China, a halt to aluminum smelting capacity to regulate the excess production.To recall, China supplies 40% of world production.
Copper closed up to 9610.50 dollars, also carried by the fundamentals, including partial closure of the Grasberg mine in Indonesia, one of the largest in the world. Lead and nickel are also mounted, respectively, in 2669 dollars and 26,650 dollars per tonne.
Overall, all have benefited from bargain hunting after declines the previous week. Investors LME smile again while U.S. quarterly results suggest good prospects for the request.
Precious metals
Gold and silver shine a thousand lights
As for precious metals, the context is more than favorable to gold paydayloans. Dollar depreciation, inflation if oil prices rise, fears about sovereign debt: everything was done to allow the yellow metal spraying his record.This was done on Thursday with one ounce to 1509 dollars. The highly anticipated threshold of $ 1,500 has been reached and even exceeded. Two options stand thus: either investors consider this remedy as an objective in the long term, they see it as a threshold for some benefits may be recovered. The following weeks will be decisive. Meanwhile, on the London Bullion Market, gold price finished Thursday at 1504 dollars at auction in the afternoon.
In its wake, the money has jumped 8% and surpassed $ 45, the highest since 1980. Thursday ounce traded at 46.32 dollars even. What makes investors fear the emergence of a speculative bubble that is expected soon to explode. In this case, a correction to $ 38 is possible.
For their part, the PGMs were down earlier this week because of fears surrounding the automotive industry in Japan.The loss of production in factories in Japan since March 11 totaled 500,000 vehicles, and could reach one million, according to experts at the Shanghai Auto Show. The sector is also affected worldwide. Prices have bounced back this weekend, buoyed by the buying frenzy because of the weak dollar. On the London Platinum and Palladium Market, an ounce of platinum finished Thursday at 1812 and an ounce of palladium ended at $ 765.
Agricultural materials
Coffee and wheat are skyrocketing
Last week, the price of coffee stood out, rising to 302.50 cents in New York, a level not seen since 1977! At issue: the prospect of reduced supply from major producing countries. In Brazil, in particular, should disrupt weather crops.In this context, and with a weak dollar, investors have not hesitated to take positions. On the NYBOT, ICE, the pound of Arabica for May delivery ended the week at 286.60 cents in New York while robusta ended at 2408 dollars in London.
Always on the side of good performances, a bushel of wheat (25 kg) for July delivery has earned 7% on the week on the Chicago Board of Trade. In the poor quality of U.S. wheat (according to the latest weekly report from the U.S. Department of Agriculture, only 36% of winter wheat is considered "good" to "excellent", against 65% last year to the same period ) and the drop-off in Russia, came by the drought in several parts of the world. The weather is dry in the American plains but also in Western Europe, Canada and China.A bushel of wheat therefore ends up at 8.3475 dollars.
In contrast, maize is affected by severe disturbances in the central United States. The contract for corn rose to 7.4450 dollars, while a bushel of soybeans for July climbed to 13.8975 million.