After a meeting on Tuesday closed at equilibrium, the rings on Wednesday renewed optimism substantial. Around noon, the Cac 40 displayed up 1.38% at 3662.5 points. The good mood is widespread in Europe, including the London Stock Exchange gaining 1.12% at 5168.1 points, the Frankfurt amount of 1.5% to 5579 points, and Milan climbing 2.54% to 21,346 points.
The prospect of a European plan to help Greece gives investors reason to smile again. Certainly at this stage, "there is no agreement," said a French source on the eve of the Brussels European Council must take a position on the budgetary situation of Athens.
But it is More than a single nation euro zone to avoid giving the green light for the backup plan. Germany, but could make his signature Thursday.
Long live economic news
On the macroeconomic front, industrial production in France fell by 0.1% in January compared to December, while in November it had gained 0.6%, according to figures published by INSEE. For Frédérique Cerisier, economist at BNP Paribas, "the sharp drop in production of transport equipment (-4.7%) reflects not only the decline in automobile production (-2.1%) but also the aviation branch , naval and railway (-7.9%).After the strong rebound in the third quarter, this pause in the recovery of the activity does not mean that recovery is terminated, but it will be gradual and probably struck, she said.
Furthermore, the current account deficit narrowed in France in 2009 to 40.6 billion euros after 44 billion in 2008, thanks to lower energy costs, said Wednesday the Bank of France (BdF) .
Finally, the United States, the trade figures for December are expected on Wednesday afternoon, and the weekly inventory of crude oil and after-hours trade, the figures of budget execution in January. Governor Daniel Tarullo be heard before the Senate Banking Committee on systemic risks.After Hours, president of the Philadelphia Fed will discuss "Lessons from the global financial crisis."
Bad publications are ignored
The publications were many on Tuesday, and just generally reassuring. But the market is not so far achieved.
Arcelor-Mittal (-5.28% to 27.1 euros) recorded a net profit of 118 million dollars for 2009 and 1.07 billion for the fourth quarter cash advance . The metallurgist is the red lantern index in Paris.
PSA Peugeot Citroen (-1.97% to 21.87 euros, 2nd largest drop) announced Wednesday a net loss of 1.161 billion euros in 2009 against a net loss of 363 million a year ago, for a turnover 'sales down 10.9% to 48.417 billion euros.Natixis welcomes performance Faurecia and Gefco, but is very Decca automobile.
Sanofi Aventis (1.03% to 53.2 euros) recorded an adjusted net income of 7.8 billion euros in 2009 up 11%.
According to Le Monde, Renault (+0.27% to 33.4 euros) to consider building a plant near Algiers, which produce 50,000 vehicles annually for the local market.
Nexans (-0.86% to 55.32 euros) worldwide leader in the cable industry, has seen its annual profits collapse at 8 million euros, mainly due to restructuring and divestitures of businesses by group, and remains cautious for 2010.
EDF Energies Nouvelles (+4.82% at 35.85 euros) announced Tuesday a net annual increase of 39% and EBITDA up 47%.Gilbert Dupont went to purchase.
Apart from publications, the bank stand on the CAC 40, including Crédit Agricole, headlining, up 4.66%, to 10.85 euros. Axa rises of 4.13% and Societe Generale is 4.41%.
CAC Hors, Havas (6.71% to 3.08 euros, head of the SBF 120) on Tuesday posted a turnover decrease of 4.4% on an organic basis in Q4 2009, to 1441 million 'euros. Unrealized net budgets amounted to 1,270 million euros in 2009. The group has been identified by Goldman Sachs and Nomura.
Medica (+7.92% at 14.03 euros) announces that its IPO was a "success".The French and international institutional, meanwhile, have subscribed for about three times the size of the offer.
Theolia (6.25% to 3.23 euro) has published a turnover increased almost five in 2009 due to the resumption of sales of wind farms by the group.
Ubisoft (-1.72% to 9.66 euros) said Tuesday night "expects to return to profitable growth and a cash from operating activities positive" for the year 2010-11.
Vinci (+1.17% at 38.43 euros) on Tuesday announced acquistion of 89 contracts for parking company Interpark the United States through its U.S. subsidiary LAZ Parking.
Vilmorin (+1.29% at 79.86 euros) issued a turnover up 2.7% in the first half of 2009-2010 and has announced a joint venture in wheat seed in Argentina.
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" .
The message is clear: "It's a test, as we realize many in our restaurants and we do not communicate on the tests. This is hardly the teams in the chain of fastfood confirm the information already given by the press. It must be said that full debate on national identity, Quick fears may be amalgams and passionate reactions. The chain of fast food tested so discreetly, since November 30, sale of hamburger meat halal certificates in support-eight of its 350 French restaurants. The market is booming in France, carried by a growth rate of over 10%. Five million French regularly consume these products, and turnover of the sector reached four billion euros in 2009, well ahead of the "organic" and its 2.6 billion results.
Eight restaurants tests
The experiment should last a few months, six by the daily Le Parisien, and on fast-food Argenteuil and Garges-les-Gonesse in the Val d'Oise, Yvelines Buchelay in Marseille, Toulouse, Villeurbanne in Roubaix and the Rhone.
The question of extending the dissemination of these new products to other restaurants in the Hexagon will decide only after the test "if the commercial interest of the offer and its technical feasibility is confirmed" says Quick. The use of halal meat and non-halal in the same kitchens that require good logistics. Quick would be the first major chain to enter the niche. McDonald's, the number 1 burger, confirmed that he had not yet put in place similar project.
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Carrefour could engage in home delivery in France in order to cope with declining attendance in its hypermarkets. According to The Independent, the French giant is in talks with UK online retailer OCADO to create a joint venture based on technology automated OCADO. It would be especially interested in their software on order entry and online organizing deliveries. OCADO who wishes to enter the stock market next year, book products supermarket High-end British Waitrose.
Deliveries should start first in Paris before spreading to the rest of French territory. The newspaper also reported that neither OCADO Carrefour did not want comment. Carrefour in the third quarter, down 8% of its turnover number of store.
The Markit monthly survey, conducted among purchasing managers in the euro area shows a manufacturing PMI up for the month of October to 50.7 points, 49.3 points against the previous month. The final result is in line with analysts' expectations, remaining identical to the first published estimate there are about ten days.
The threshold of 50 points represents growth in activity. The crossing of the barrier and indicates a departure from the area of contraction in activity, which had not been the case for nearly seventeen months, in April 2008.
Larger rebound in France for nine years
If this rebound in manufacturing activity is undeniable at European level, important differences remain between countries in the area. France is the current head increases with a PMI of 55.6 points (2.6 points a month)."The French manufacturers reported another strong acceleration of output growth, performance displaying significantly higher than their European counterparts. The France and recorded a fourth consecutive monthly increase in manufacturing output, the strongest since a little over nine years. "
The index of new orders for its highest recorded for twenty-six months in the euro area, 53.7 against 52.5 points in September.
"The business conditions in the euro area manufacturing sector has improved for the first time since May of last year, driven by accelerating growth in output, new orders and slower job losses, "said Chris Williamson of Markit.