While the country remains on alert this morning after a second explosion at the nuclear power plant in Fukushima Daiichi, the Bank of Japan (BoJ) to take exceptional measures to counter the effects of the disaster in the economic and financial systems. The BoJ has in effect this morning to three injections of cash for a total of 15,000 billion yen, 131.2 billion euros. In addition, Market Watch, which cites the Japanese news agency Kyodo said that 3000 billion yen will be invested Extra on Wednesday. In addition, the central bank plans to buy 10 billion yen (870 million euros) of assets and corporate bonds. The institution hopes to support markets.
His intervention had immediate effect on the yen, which fell abruptly when he was mounted in the early morning.The Nikkei index of Tokyo Stock Exchange plummeted finished him sitting on a decline of 6.18%. The volume of transactions reached a historic high on Monday to the Tokyo Stock Exchange, with over 4.88 billion shares traded on the primary market, representing more than 2.5 times the average normal. The Tokyo Stock Exchange has nevertheless been valuable to rate.
Automotive and nuclear values fall
The share of the company Tokyo Electric Power (TEPCO), which operates nuclear plants in trouble, was particularly affected, it lost 23.57%, all holders of securities rushing to sell. The values are also among the automotive titles most penalized Mitsubishi Motors plunged 10.9% to 8.1% and Toyota. Indeed, many Japanese companies are facing serious damage on their production sites.Honda, Nissan, Toyota, Sony, Mitsubishi Motors, Suzuki, Panasonic or Toshiba have suspended their activity in one or more plants.
As for oil prices, they are on the downside on Monday in electronic trading in Asia. A barrel of Brent WTI lost nearly 2% to less than 100 dollars a barrel. The market is worried about a decline in short-term demand from Japan due to the drop in production.
The reduction of production capacity is compounded by shortages of electricity, or the closure of ports. And the idling of the country further increase the bill for the disaster. Even if the destruction of the earthquake and resulting tsunami that struck Japan on Friday remain difficult to assess, AIR Worldwide, a specialist in risk assessment, advanced at a cost of $ 34.6 billion to insurance companies.And the total score could be higher than the $ 100 billion of the Kobe earthquake in 1995, said Valerie Plagnol, director of research at Credit Suisse France, micro BFM.
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Just under one fifth of the CAC 40 were published on Thursday morning. After Wall Street closed higher Wednesday, the Paris Stock Exchange opens on a slight rise, following this new wave of publications heavyweights rating. The CAC 40 rose 0.22% to 4160.78 points.
Since Wednesday, the U.S. macroeconomic news will be especially with the United States: Inflation in January (1430), the weekly claims for unemployment benefits (1430) and the composite indicator of economic activity in January (16 hours).
In France, expected numbers of start-ups in January (8.45) and the presentation of the 2011 Annual Public Report of the Court of Auditors (1230).Around 10 am, will be published balance of payments in the eurozone.
On the currency markets, the euro is stable against the dollar on Thursday morning at 1.3560 dollar.
BNP Paribas missed market expectations in the fourth quarter
Despite a 2010 net profit up 34% to 7.8 billion euros, BNP Paribas has missed market expectations in the fourth quarter, after a depreciation in its accounts unexpectedly on its stake in Axa.
Canal + France said it had registered Wednesday its core document with the AMF, to an IPO in Paris 20% of its capital.
The insurer Axa in 2010 recorded a net profit of 2.749 billion euros, down 24%, affected by special items related to divestitures in the United Kingdom, according to a statement released Thursday.
PPR has reported an annual net profit up 1.4% to 965 million euros, while its turnover in 2010 rose 7.5% to 14.6 billion euros.The distribution group and luxury is confident to achieve this year's financial performance than those of 2010.
Technip table for this year on a turnover of about 6.5 to 6.7 billion euros and an operating margin Subsea (subsea infrastructure) above 15% free business cards.
Schneider Electric has published on Thursday a net profit doubled in 2010 to 1.7 billion euros.The group targets a growth of 6 to 9% this year, a margin which improved to reach 15 to 15.5% in 2011.
The wine and spirits group Pernod Ricard said Thursday net results in increase in the first half of its fiscal year offset.
The consulting group Capgemini and Computer Services posted Thursday a net profit in 2010 increased 57% to 280 million euros forecast for 2011 indicating a growth in turnover of between 9 and 10%.
TF1 takes advantage of the recovery in advertising market
TF1 double its annual net profit to 229 million euros thanks to the upturn in the advertising market.The group chaired by Nonce Paolini expects a stagnation in sales 2011, after it rose 11% in 2010.
Alcatel-Lucent is confident about its prospects in the U.S. this year, based on significant contracts with major operators in the country, Verizon and Sprint Nextel, told Reuters his director of the Americas.
The European Railway Agency in March will make its technical opinion on the circulation of new types of trains through the Channel Tunnel, which will build review the Franco-britaninque responsible for settling the case, said Wednesday Thierry Mariani.
Scor announced Wednesday the sale of its fixed annuity in the United States to Athene Holding for 55 million dollars (40 million).
Saft has announced an acceleration of its business in 2011 but a slight margin decline due to one of its plant projects in the United States.
Icade intends to continue the service sector of its activities with delivery over the next several years of its pipeline projects valued at 900 million euros.
After market, Eutelsat will publish its first half results.
On the occasion of its big annual event, the Ufip, the French Union of Petroleum Industries on Friday announced the impact of strikes on the fall of 2010 alone oil industry: 230 million euros.
A figure that could grow. For the fourth straight weekend, the activity of French ports will be affected by social movements, the CGT still requiring validation of an agreement on the drudgery.
Besides this "handicap" represented by the unreliability of the port of Marseilles, and denounced by Jean-Louis Schilansky Ufip Chairman of the rising discontent especially from the bosses of companies weakened by the downturn port. Under the patronage of the Phoenician city, the losses at the end of November last, relating to strikes, would amount to 800 million euros.In the medium term, the continued movement threatens 41,000 jobs directly and indirectly specifies the organization, who attended Thursday at a meeting of major economic players in Marseille.
Now "A container for two to France through foreign ports," a late Jean-Luc Chauvin, president of the PSU 13, the Union for companies in the Bouches du Rhone. Companies are dying to Marseille where we are in a state of permanent strike. "
Threat to long-term activity Ports
"Companies are tired, we are undermining the economic fabric," adds the CEO of the Port of Marseille, Jean-Claude Terrier. Especially if short-term impact of strikes on the job can be cushioned by partial unemployment, it is not the same in the long term.
Plagued by recurring blockages, the poor image of the port of Marseilles is widening. What is not without consequences for the activity: traffic from all terminals of the Grand Port Maritime de Marseille (GPMM) grew twice as fast in 2009 as the Mediterranean ports, and three times less than those Northern Europe.
And the fall in traffic could continue. On the site of Fos sur Mer, terminals and cargo containers are still totally blocked this weekend. A new arrest brings to 29 the number of calls to cancel since the beginning of the month. Between 1980 and 2010, the port of Marseille has lost 12% market share, reaching 16% last year. He has yet to lose a place among the European countries (5th in 2010).
However, difficult before any return to normalcy, to quantify exactly how many jobs really threatened.Meanwhile, a cell of the Prefecture of the Bouches du Rhone will be created to select the companies affected by social movements, and conduct an evaluation in terms of jobs. About 2,500 companies will receive bank facilities, said the Prefect Hughes Parant.
Side Le Havre, or movement is also closely watched, the loss of port activity related to strikes brought to 40% in Les Echos said the president of the Maritime Union and port of Le Havre. About 80% of the 16,000 jobs that include the organization today are indirectly affected, "he said. In January more than 50 calls were canceled out of 170 were provided, again in favor of other ports, Belgian and Dutch.
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Fimalac wants afford Accor Casinos. Accor, which still holds 49% share of Casino Lucien Barriere, came under discussion with the holding company Fimalac, announced the holding company and the giant hotel, confirming information Wansquare. "If the talks succeed, Fimalac inform the market with a new release," said the holding company of French businessman Marc Ladreit de Lacharriere.
Neither group has characterized these negotiations exclusive.
Accor thus remained in the process, begun there On several months of separating from its casinos Lucien Barriere. Last October, there was talk that the casino operator is introduced in Exchange, but Accor has canceled the operation less than 48 hours before the first quotations. Explanation: The lack of investor interest.The number one casino in France, also owns luxury hotels like Le Fouquet's in Paris, would indeed have been valued below the proposed price range (from 575 to 702,000,000 euros), which was too little for Accor.
Following this failure, the casino operator did not document-Accor maintained that all options were "reopened", including finding investors. However, management prefers Barrier IPO (IPO). This could suggest a new attempt in 2011.
A price around 550 million euros
According to our information, "it would seem reasonable that it is fastened below the price the IPO at around 550 million euros." Even if the purchase price is modest for Accor, "is clearly positive in terms of perception management," said one trader in Paris.
Fimalac, which include 60% owner of the rating agency Fitch, could then finance the acquisition entirely on equity, because it currently has net cash of 261 million euros.
In the 2009/2010 financial year ended September 30, Fimalac has reported a net profit of 30 million euros (+36.4%) for a turnover of 608.9 million euros ( +8.8%).
The group recently acquired the company Vega, French leader operating rooms dedicated to entertainment, sports and events and economic events. The company has notably orchestrated the return of Michel Polnareff in 2007 and is particularly associated with the operation of the Zenith of Rouen. He also holds 40% of Gilbert Coullier Productions, the leading French organization of shows for singers and comedians speaking.
Nothing works for casinos
The casino market has suffered tremendously, both from an economic crisis that has sealed the "entertainment budget" of the French and regulations become more stringent over time.
Jan
6
Jean-Paul Agon, CEO of L'Oreal, has benefited from the traditional greeting to the press to announce the 2011 goals of his group. Thus, the number one global cosmetics is ready to "enter a new phase in its history" defined as "the stage of universalization. The group is "fully prepared to seize opportunities," said the boss of the group.
To achieve this major objective, L'Oreal has confirmed its intention to win a billion new customers, relying in particular on the development of the middle class in emerging countries. As recalled by Jean-Paul Agon, L'Oréal makes the moment most of its revenue with "less than 15% of the global population.""We expect to double this in the next 10 years" and "win as many customers in Asia Pacific that we have today in Europe and the United States," aout there.
Research, more decentralized, particularly should meet "the diverse needs of consumers worldwide."
"2010, year of conquest"
This presentation was also vows an opportunity to review the past year. L'Oreal "in 2010 has found the path of growth," says the executive director of the group, for whom 2010 was a great year for the enterprise of conquest no faxing payday loans. It has bounced back after a year 2009 was the year of crisis, "he concluded.
Jean-Louis Agon assured that "the group had made progress in all areas, all circuits and all trades" and its "brand gained ground everywhere," citing in particular "new markets".The first nine months of the year, "indicative of the year 2010, were marked by higher sales of about 11.6% to 14.5 billion euros.
L'Oreal boss, who was accompanied by the new executive committee set up earlier this year, said the group had benefited from "strategic decisions" taken during the crisis as "the deployment of innovations accessible" "The rapid globalization of brands and products" and "increased investment" in research and commercial means.
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For one last time before the scrapping has boosted consumption. In November, households spent 2.8% more in manufactured goods, after falling 0.6% in October, according to Insee. The boom in car sales, with 14.9%, pulled the index from the Institute of Statistics for the month.
"Beyond the positive effects of scrapping set up by the government on car purchases, all items of consumption of manufactured goods have increased significantly in November, held to highlight the Minister of Economy Christine Lagarde. Textiles and leather rose 2.9%, probably enjoying the weather rigorous. Purchases of equipment housing also rose (+0.4%).
Despite the optimism of Bercy, which expects a recovery in consumption, the start of January looks bleak on the trade front.More than one in three households (35%, 7 points higher than in the previous barometer) is planning to spend less in the coming months for food and clothing, according to a poll conducted for BPCE ViaVoice *, France Info and Les Echos published Thursday. They are only 9% plan to spend more and the rest of the population does not intend to waive the rules of parsimony introduced in 2010.
On higher expenses, the prospects for buying real estate is still very low: 3% of respondents planning to invest in the stone payday advance lenders. However, the prospects of acquiring cars increased slightly (7%, +2 points) to a few days to stop scrapping laprime and environmental bonus.
In total, the total fertility rate of spending intentions of the French lost 17 points compared to last month.
Low morale
A relative majority of French people (42%) still expects a decline in purchasing power, and this proportion is increasing compared to last month (+3). They are only 13% to bet on a rise in their purchasing power.
In a second aspect, the study focuses on Christmas gifts and notes that the French are shared between termination of a consumerist frenzy and caring towards one part relational authenticity. On purchases (frantic) Christmas, youth aged 18-24 believe overwhelmingly (63%) which was due to make as many gifts.In contrast, seniors (65 and over) believe overwhelmingly (59%) that we should do less of gifts.
* This survey was conducted on December 16 and 17 by telephone on a sample of 1005 people, according to the quota method.
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The tax reform of the heritage may be a real headache for the government. A working group of twenty parliamentary majority was installed Monday night at Matignon to prepare the ground, but opinions are as abundant as contradictory. Should we abolish the tax shield at the same time that the ISF? This was claimed in October 125 UMP deputies who co-authored the amendment to that effect filed by Michel Piron (UMP, Maine-et-Loire). This amendment, which was rejected, provided in return creating a top slice of income tax, currently ruled by Nicolas Sarkozy, and controversial even within the UMP."These are the richest households to be drawn upon, especially not the middle class, to find three billion euros needed to finance reform," says Pierre Mehaignerie, Chairman of the Committee on Social Affairs Assembly. Signatory to the amendment Piron, Louis Giscard d'Estaing (Puy de Dome) believes that reform will lead to "impose more direct income from assets." But at what rate? As soon as one enters into details, nobody is in agreement.
Liberals are more reserved. "I am wary of tricks Bercy, in the guise of lowering some taxes, increase by changing their nature. Do not complicate things a year and a half presidential, "warns Claude Goasguen (Paris). Especially as the affluent is one of the targets of UMP voters for 2012.His colleague in the Drome, Herve Mariton, one of the few defenders of the tax shield, emphasizes the importance of "secure the political framework" and "do not do crafts." Equally cautious, Philippe Meunier (Rhone), member of the collective right of the People, demand that "the tax varies depending on the amount of the assets."
The abolition of wealth tax is also politically risky, and denounced in advance by the left. A compromise solution is advocated by many UMP (including Claude Goasguen, Louis Giscard d'Estaing and Marc Le Fur) who have been demanding for years the output of the principal residence of the base of the ISF.The president of the centrist Senate Finance Committee, Jean Arthuis, calls him a "big night" tax "Our model of compulsory levies, he says, is completely outdated."
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* Flora Accursi, Sylvain Alzial Pascher and Julie.
In 2007, the European Commission launched an investigation into several airlines, including Air France-KLM, British Airways, Singapore Airlines, Japan Airlines or Qantas, and accuses them of not playing the game of competition by colluding on Prices in the air cargo freight. Such an interest group of some companies called a cartel.
Three years later, the Competition Commissioner Joaquin Almunia is expected to announce on Tuesday, the total amount of fines at a news conference in Brussels to 17 hours.
Of the 27 airlines related to this case, thirteen of them should be condemned by the European Commission to pay a total fine of approximately EUR 800 million, reports Reuters citing a source familiar with the matter.And "six of them are not European," the source said.
EUR 200 million for Air France
In theory, even if such a sentence is rare, Brussels may impose on a company a fine of up to 10% of its turnover for breaches of European regulations.
Lufthansa should be spared a fine because it has alerted the European Commission on the cartel. In contrast, British Airways could have to pay a fine of 120 million euros, according to the source, while another source familiar with the matter said last month that Brussels was considering penalizing the British group between 60 and 80 million euros.
Air France should in turn be imposed a larger fine of 200 million euros.This could be explained by the fact that the French would never comment on this issue and has not helped the European Commission in its investigation.
Singapore Airlines, Japan Airlines, Cathay Pacific and Qantas are among the airlines should also be condemned, the source said. Korean Air, Cargolux, Aliltalia, All Nippon Airways, SAS and Singapore Airlines are also part of the companies on which the EU executive was investigated.
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A nice jackpot. On 26 October, the number two of LVMH, Antonio Belloni, received a capital gain of nearly 18 million by raising a portion of stock options granted by his employer, reports Le Parisien on Sunday. The deputy CEO of luxury goods group has asserted its right to purchase shares of LVMH at a rate determined in advance and a lot cheaper than the market price.
An operation that took place in two phases and this, the day LVMH said it had raised its stake to 17.1% stake in the luxury house Hermes. As part of the exercise of stock options, Antonio Belloni, LVMH has bought 200,000 shares at a price of 37 euros and 50,000 additional shares at a price of 61.77 euros each, according to documents submitted by the world leader in luxury the AMF (AMF). Total amount of the transaction: 10.48 million.
The equivalent of 1400 years of minimum wage
A few hours later, the deputy CEO of LVMH sold its 250,000 shares in the market several times … during the day. Is 112.35 euros per share, recall the documents transmitted to the AMF. The sale raised a total of 28.08 million euros. The head of LVMH has made a capital gain of EUR 18 million in one day. A sum which represents the equivalent of 1400 years of SMIC, said Le Parisien.
"Antonio Belloni has fully complied with the rules," said a spokesman for the group of luxury log. Rules that he knows very well indeed, since the number two of LVMH has already made, other than that of October, three exercise of stock options followed the sale of shares this year.Of transactions each time for several million euros.
The code of conduct of the AMF
Stock options were just to the spotlight this week. The AMF published Tuesday a guide recommendations to company executives. Leaders are "insiders almost permanent" because they have inside information that could affect the share prices of their companies, said the stock market watchdog, who promised to work on the issue at Case EADS.
Figaro in an interview late last year, Jean-Pierre Jouyet, chairman of the MFA, had assured that there was a discussion to be conducted on stock options. "In some situations, stock options are perhaps simply inadequate and a source of conflict of interest," he said.Today, leaders of listed companies so their code of conduct to prevent insider trading. A code that is not binding.
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