Equity markets leave the U.S. before Wednesday. The Dow Jones is 0.81% at 12,049.92 points, the Nasdaq climbed 1.03% to 2666.90 points and the S & P 500 rose 1.03% to 1284.90 points. On Monday, U.S. markets, which started in the green, finished on a stable tone, troubled by a further deterioration of three notches of the rating agency in Greece by S & P.
In contrast, Asian stock markets rose in unison this morning, buoyed by the announcement of the Bank of Japan keeping its policy rate close to zero to support the growth of the archipelago.
Following the sharp market declines in recent weeks, investors are looking for bargains on Wall Street. Moreover, mergers and acquisitions announced in the U.S. market in recent hours also seem to encourage investors.
On Monday, the textile group VF Corporation, which owns the brands Wrangler, Jeansport or The North Face has announced that he wanted to buy the specialist outdoor Timberland valued $ 2 billion. For its part the packaging producer Graham Packaging said it received a takeover offer, higher than that of Silgan Holdings, which was to acquire for $ 4.1 billion and the industry group will buy Honeywell for $ 491 million of its fellow EMS Technologies specializes in telecommunication tools for aeronautics.In reinsurance, Transatlantic Holdings will merge with its rival Allied World Assurance Company Holdings, to give birth to a giant valued around $ 5 billion while the group of fast food Wendy's will separate chain Arby's to a consortium formed by Roark Capital Group for 430 million dollars.
USA: first drop in retail sales since June 2010
The producer prices slowed their rise in May to 0.2% from the previous month according to figures released Tuesday by the Labor Department, but this increase was higher than expected.It is nevertheless the first drop in retail sales since June 2010.
Retail sales in the U.S. fell less than expected in May, 0.2%, driven by a sharp drop in auto sales, indicate figures released Tuesday in Washington by the Department of Commerce quick guaranteed personal loans.
On the foreign exchange market, the euro continues to rise against the greenback at 1.4448 dollars against 1.4413 dollars late Monday. For their part, oil prices were progressing on Tuesday at the opening in New York, a barrel of benchmark gained 32 cents to 97.62 dollars.
Apple pays royalties to Nokia
Avis Budget: 5.70% to 16.87 dollars
The side of values, announcements of mergers and acquisitions continue to grow.The American Society of Avis Budget Car Rental Avis Europe will buy for about 636 million pounds in cash (723 million), announced on Tuesday the company, which hopes to increase its presence in emerging markets with high growth like India and China.Avis Europe, currently owned 59.6% by the Belgian robertlipinski, operates the Avis and Budget brands, and operates in Europe, Africa, Middle East and Asia.
Apple: 1.17% to 330.42 dollars
World number one mobile phone, Finnish Nokia, said Tuesday that its U.S. rival Apple agreed to pay royalties to settle all their disputes over its use of several technologies patented by Nokia.
Citigroup: 0.46% to 39.35 dollars
For its part Citigroup announced Tuesday it had sold 1.5% stake in the Indian mortgage specialist Housing Development Finance Corp., lifting 160 million dollars before taxes. This sale brings to 9.9% from Citi in HDFC.It takes place before the adoption of new prudential regulations Basel III.
NYSE Euronext: 0.67% to 34.56 dollars
Representatives of the trading platforms NYSE Euronext and Deutsche Börse have defended on Monday its proposed merger with U.S. lawmakers.
Also note, Facebook could be valued at over $ 100 billion at its IPO, which could happen by early 2012 CNBC. The record IPO will be filed this fall. The valuation of the company was estimated at 50 billion dollars in January when she was lifted to $ 1.5 billion from Goldman Sachs.
The CAC 40, which is ironed Thursday to above 4000 points, failed to show a third straight session of gains. At the close, the CAC 40 index shows a sharp decline of 0.92% to 3990, 85 points. aaccentué market downturn after his decision known to the rating agency Fitch lowered the rating by three notches from Greece.
For the week, the CAC declined slightly by 0.70%.
Ala London Stock Exchange, the FTSE-100 ended with a slight decline of 0.14%, while the Stock Exchange Frankfurt, the Dax 30 shrank more sharply by 1.26%.
On the macroeconomic front, the deficit of the balance of current accounts in the euro zone rose to 4.7 billion euros in March, against 6.5 billion euros in February, according to preliminary figures released Friday Bank European Central Bank (ECB).
The euro continues to rise
This fragile economic environment in the United States enjoys the euro continues to rise, albeit less strongly in mid-session, against the dollar. In one week, the single currency rose to 1.4272 dollars from 1.41 dollars.
In midday trading, a barrel of oil, light sweet crude for June delivery gained 0.65% to 99.57 dollars.
Siemens will pay 648 million euros Areva
Sanofi-Aventis: -1.28% to 54.04 euros
The anti-arrhythmic Multaq group Sanofi, marketed in France since October 2010 and currently reimbursed at 65%, is threatened with delisting, but the final decision remains subject to such a hearing of the laboratory, according to La Tribune.
Areva: 1.59% to 30.63 euros
Areva must be "within fifteen days" a check for 648 million euros from Siemens, according to an arbitration Thursday by the International Chamber of Commerce. The group with the Executive Board is chaired by Anne Lauvergeon accused the German group for its commitment with the Russian Rosatom even before he uttered his divorce with the joint venture Areva NP.
GDF Suez: -1.19% to 26.09 euros
On the corporate side, an employee of GDF Suez made a suicide attempt on May 14, immolation by fire.The framework of management information systems from Lyon is currently in critical condition.
Vallourec: -1.13% to 86.91 euros
Bollore sold two thirds of its stake (3.5%) in Vallourec for 275 million, pocketing a profit of 141 million euros.
PPR: +0.25% to 121.85 euros
PPR "take the time necessary" to make acquisitions and divestitures, "said CEO Francois-Henri Pinault, during the group's general assembly yesterday.He added that the luxury group still holds 42% stake in CAM after its IPO in late 2009.
Suez Environment: -0.32% to 15.37 euros
Suez Environment has confirmed its objectives for 2011, an increase of more than 5% of turnover and over 10% of gross operating income.
Biomerieux: 2.33% to 77.38 euros
Biomerieux will acquire the control specialist microbiological industry AES Laboratoire for 183 million euros. Under the strategic plan 2015, BioMerieux is an annual organic growth in sales of 7 to 9% on average.
Pierre & Vacances: 1.55% to 54.36 euros
Pierre & Vacances buys 50% of managers of tourist residences Citéa a subsidiary of Nexity. The transaction amount was not disclosed should be finalized in late June
Asian stocks tentatively leave on Friday. At the Tokyo Stock Exchange, the Nikkei 225 lost 0.14% to close at 9607.08 points, after the Bank of Japan (BoJ) kept in a range between 0% and 1% interest rates. The BoJ still think the Japanese economy will recover moderate growth "from the fourth quarter." On Thursday, Japan fell into recession, gross domestic product fell 0.9% in first quarter 2011 compared to the previous.
The president would have resigned Tepco
Note that according to Japanese newspaper, Yomiuri Shimbun, one of the largest in Japan, the president of TEPCO, Masataka Shimizu had resigned for his role in managing the nuclear crisis to the central Fukushima. The spokesman of the group, Ryoko Sakai, refused to confirm the information.The company in difficulty since the beginning of the nuclear crisis in Japan expected to announce today a record loss of nearly $ 15 billion for the year ended March 31. It should be replaced by the auditor, Katsutoshi Chikudate. Tepco fence on a slight rise from 0.54% to 367 yen.
Caution is also needed on Chinese stock markets: the Hang Seng in Hong Kong gained 0.10% to 23,187.10 points and the CSI 300 ahead 0.18% to 3126.35 points.
Oil prices rise
On other Asian financial centers, the trend is mixed: the Taiwan TAIEX was down 0.69% at 8831.24 points, the S & P / ASX 200 in Sydney to yield 0.42% 4736.30 points and the FTSE Straits Times Index Singapore lost 0.21% to 3165.95 points.Conversely, the KRX in Seoul 100 is up 0.43% to 4479.25 points and the BSE Sensex climbs 30 of 1.07% to 18,335.60 points.
Oil prices were on the upside Friday in electronic trading in Asia, buyers taking advantage of lower prices yesterday, analysts said. In morning trading, a barrel of light sweet crude for June delivery gained 38 cents to 99.31 dollars. That of Brent North Sea crude for July delivery took 13 cents to 111.55 dollars.
The good news on growth, announced Thursday night by François Fillon and Christine Lagarde, has been confirmed on Friday morning. The business grew by 1% over the first three months of the year, INSEE said on Friday. This figure far exceeds expectations, provides a growth of about 2% over the year, according to government projections.
"To temper the enthusiasm," says Jean-Paul Betbèze, head of research at Credit Agricole, "the second quarter will be lower with the repercussions of rising oil prices." Soaring gasoline prices could indeed stopping the household budget, which would reduce their consumption accordingly. And the good first quarter figures hide some reasons to remain cautious for the remainder of the year.
The French consume more
Household consumption accelerated slightly, to +0.6% against +0.4% in the last three months of 2010.Positive: Spending on services rebounded sharply (+0.7% -0.1%). On the other hand, "the consumption of manufactured goods remained strong (+0.8% after +0.9%), despite the slowdown in auto purchases," notes INSEE. Downside: Some consumer spending due to the recent effects of scrapping. In addition, "household investment declined (-0.3%) which tends to give credence to the theory of a cold snap in the housing market," said Alexander Law, chief economist at Xerfi.
Plants accelerate the pace
Industrial production has accelerated markedly (+1.6% after +0.3%). Positive: "Manufacturing is the largest of the last thirty years" (+3.4% after +0.7%), INSEE said.Downside: This excellent figure is explained in large part by a catch-up effect that will not happen again in the coming months, namely "the rebound in production of refined products, after the social movements at the end of last year" ( +24.7% -17.6% after), says the National Institute of Statistics.
Investment recovery
One positive growth in business investment has more than doubled, from 0.5% at end 2010 to 1.1% in early 2011. Leave government investment also increased (+1%, after -1.4%). Downside: It is, as regards public investment, a catch-up effect, with the revival of construction sites encumbered by bad weather in late 2010.From the public side, "while corporate loans are modest, the resumption of investment suggests a deterioration of the financial capacity of companies," Natixis analysis.
Growth Stocks
Replenishment of stocks by enterprises: it has contributed 70% growth, down 0.3 points after the end of 2010. One positive trend should continue in the coming months, according to economists at BNP Paribas. Negative point: The reconstitution of stocks by companies, boosting imports, widening the trade deficit French.
Foreign trade still lags behind
Positive: exports have accelerated (+1.4% after +0.3%). Downside: Imports grew even faster in value (+2.7% after -0.7%) due to higher oil bill in France due to soaring prices.Result, "the trade balance deteriorates and contributes 0.4 points to changes in activity (after +0.3 point), according to Insee.
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The threshold of $ 105 a barrel was saved just in New York. Only two sessions on Monday and Tuesday, a barrel of light sweet crude for May delivery lost nearly 6% to U.S. $ 106.25 while Brent North Sea abandoned 3.06 $ 120 , $ 92.
Investors have been troubled by a note of surprise the U.S. bank Goldman Sachs sent its clients and unveiled on the markets. It announced the closure of its positions to purchase a basket of commodities, including oil, saying that rising prices would lead to lower demand. His call to take profits was reinforced by the report of the IMF and the IEA. The first has already revised down its forecast by 0.2 percentage point growth in the U.S. economy for 2011 to 2.8%.As to the second, it confirms in its monthly report the existence of a "real risk that oil is now over $ 100 a barrel is not compatible with the pace of economic recovery." "If oil prices remain at these levels sustained for 110-113 dollars and beyond, it has a good chance of derailing the economic recovery," confirmed Ilczyszyn Rich, the manager of Lind-Waldock.
However, the second part of the week was marked by an abrupt reversal of the market despite the announcement of a further rise in crude inventories in the United States. Again, the combined action of the weak dollar and renewed tension in Libya, explains the movement. Moreover, the operators had their eyes on Nigeria, where presidential elections were held Saturday.Largest producer of crude oil in Africa, eighth largest exporter, the country was the scene of violence, often directed against oil installations in the Niger Delta. "This amounts to asking who is next. As a producer, should be monitored Nigeria: the political uncertainty is not a source of stability for the prices, "stated Rich Ilczysyn, Lind-Waldock.
Friday on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude ended at 109.66 dollars, while London Brent went back to 123.53 dollars. Prudence, however, remained in order. "There is a reluctance on the part of brokers to have too many positions to purchase more than 120-125 dollars a barrel because they know what the IEA says is true beyond 100 dollars it raises questions.At more than 120-125 dollars it raises serious questions about the impact of oil prices on the economy, "warns Adam Sieminski of Deutsche Bank.
Precious metals
Gold continues to race ahead
The gold and silver, however, have not declined. The yellow metal has soared for the first time in its history, the threshold of 1480 to $ 1487.65 dollars an ounce Friday. The same day, silver touched the 42.84 dollars per ounce, a level not seen since February 1980.
The reasons for this rise does not change. There is first of all the renewed concern around European debts. The markets are marked by speculation about a possible restructuring of the Greek debt, while Moody's has once again deteriorated note of Ireland. Then the inflationary world.The latest example: China, which reported a rise in consumer prices of 5.4% in March. Inflation Up 0.5% in the U.S. and 2.7% in the eurozone. Finally, the accommodative policy of the U.S. central bank, which accentuates the phenomenon of inflation, contributes most to the decline of the dollar. But the weak dollar is also a factor in higher prices because it favors purchases. At all these factors added pressure on gold demand from China and India.
On the London Bullion Market, gold finished Friday at 1476.65 dollars at auction in the afternoon, and the gray metal closed at 42 fast cash now.67 dollars per ounce. The analysts at research firm GFMS now anticipate an ounce of gold exceeding $ 1,600 by the end of the year. The ounce of silver should his side reach 50 dollars.
The platinum metals have however suffered from the note from Goldman Sachs.On the London Platinum and Palladium Market, an ounce of platinum closed lower Friday at 1,787 dollars per ounce while palladium finished at 772 dollars.
Base Metals
Base metals neglected
On the London Metal Exchange, industrial metals have also been a tough week. Copied their movements with those of the oil markets, prices fell $ 7 on the first two sessions of the week, also penalized by the note from Goldman Sachs.
The red metal finished Friday at 9419 dollars, down from 2.86%, despite a likely reinforcement tensions on supply (mining giant Rio Tinto announced a fall of 14% of its production in the first quarter and expects down 21% over the year).
In the fall, copper has resulted in the lead (-5.11% for the week) and nickel (-3.04%).The latter also suffered from the announcement of a production surplus of 600,000 tonnes on the market after a note by the International Study Group on Nickel (INSG). Going against the tide, tin exploded his previous record by climbing to 33,600 dollars per tonne on Monday. But the increase should not continue because of the resumption of exports from Indonesia, world's biggest exporter, which had been disrupted by bad weather.
Overall, traders should remain cautious on the LME. China, world's largest consumer, has sent conflicting signals Friday announcing both a rise in industrial production (+14.4%) and inflation of 5.4% leaving consider a further strengthening of monetary policy.
Agricultural materials
Côte d'Ivoire still worried
Cocoa prices have begun to put together after losing nearly 10%.However, the arrest earlier this week of outgoing President Laurent Gbagbo and the announcement of an immediate resumption of exports would have led to lower prices. Because they are nearly 10% of global demand for cocoa which will be on the market the next few weeks. But the operators are already focused on the effect of political events. They fear in particular that the president Alassane Ouattara fails to pacify his country as he promised and restart the economy, including banks, the pillars of supply chain finance bean brown.In this context, the announcement of a 3.5% increase in demand by the European Cocoa Association has added to rising cours.Sur Liffe in London, a tonne of cocoa for July delivery finished to 1972 pounds (2.65%) while on the NYBOT-ICE U.S., the contract for the same period was worth 3248 dollars (8.67%).
Their sides, coffee prices went up significantly, driven by limited supply and consumption robust. In London, a tonne of Robusta for July delivery finished at 2463 dollars while in New York, the pound of Arabica for May delivery was trading at 287.75 cents in New York.
In contrast, good production prospects in Brazil and Thailand have tripped sugar prices in London to 697.40 pounds and 24.85 cents in New York.
Side grain on the Chicago Board of Trade, a bushel of corn for May delivery rose in Monday meeting new level of 7.8375 dollars before retreating to 7.42 dollars on Friday. The threshold of 7.50 should be maintained as looming pressures on supply due to a wet spring in the United States. A bushel of soybeans and a bushel of wheat for the same maturity respectively closed the week to 13.33 dollars and 7.4450 dollars.
The resignation Monday of Patrick Pelata, deputy CEO of Renault, has not put an end to the crisis triggered last January 3 by the unfounded dismissal of three executives of the manufacturer for a false espionage. Some observers fear that his departure will have consequences in the functioning of the enterprise. "Without the controls Patrick Pelata, Renault's strategic plan in February could be disrupted or postponed for six months to a year," judge and Florent Couvreur, analyst at CM-CIC Securities. He is not alone in worrying: Tuesday, Renault shares fell 3.17%, 2.21% after the previous day.
In the labor movement, the reactions are negative, especially before the absolution granted to Carlos Ghosn, CEO of Diamond brand. "When you're number one, we must assume.To Mr. Ghosn to decide, "said Jean-Claude Mailly, secretary general of the Workers Force. Same story on the side of employers: "There are times when we are many entrepreneurs do not recognize ourselves in the behavior of some of them", for its part, said Laurence Parisot, President Medef to without naming the president of Renault.
Patrick Pelata will manage the Japanese crisis
The criticism of Carlos Ghosn has more weight than the boss of Renault was widely exposed, especially from log 20 hours of TF1 to assert that the evidence involving the three executives were "multiplesJe urges me to laugh at everything for fear of being obliged to weep."
Logically, the audit report commissioned to understand how this case could take up so much steam highlights the role of Patrick Pelata payday loans.Yet some point out, the two other steering committee members involved – the Christian Legal Director and Secretary General Husson Laurence Dors – depended Carlos Ghosn, and not his right arm. Even as the Chief Operating Officer oversaw, directly or indirectly, 18 of the 24 members of the steering committee.
The departure of four key leaders of Renault (counting Michel Balthazar, one of the executives who unjustly blamed not return to the company) will necessarily be difficult to manage operationally. Especially as replacements will not happen quickly. "Patrick Pelata will remain in office for another few weeks.There is a crisis to manage because of the disaster in Japan and he'll manage, "said a spokesman for the manufacturer.
The financial implications are however easier to absorb, even if they are not negligible. The four victims of the case managers (the three laid off January 3 and he fired in late 2009) will be compensated, even if two of them go back into the business. In total, these benefits are expected to cost around 8 million euros to Renault. However, an amount that will be covered by bonuses and stock options which have given Carlos Ghosn, Patrick Pelata and all officers implicated by name in the audit.
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The iPad is beginning to overshadow the PCs. According to a survey * conducted by AdMob, the mobile advertising from Google, about three-quarters (77%) of owners say touch pads use their computers less often than before. And 28% say that this new device is already becoming their main engine, replacing the PC.
Much like a computer, and despite its small size, the touch pad is used in a very large majority (82%) at home rather than move. The peak occurs in the evenings and on weekdays. The touch pad, lit an average of more than one hour per day, serves primarily to play (84%), and then searching for information on the Internet (78%), consult your emails (74%), track News (61%) and connect to social networks (56%).
The PC still keeps a few restricted areas, including office automation.In the absence of keyboard and mouse, the touch pad is actually more appropriate for consultation and the creation of content. Recently, applications, photo editing (Photoshop Express) video editing (iMovie) and editing sounds (GarageBand) still trying to compete with the computer on new terrain.
The iPad head for long with applications
The survey of Google, which in theory includes all the touch pads without distinction, is in fact almost entirely on users iPad. The Apple tablet has represented over 80% of sales in 2010. It should still assume 68% of the market this year, according to projections by the research institute Gartner, then 47% in 2015.The iPad will outperform then tablets Android (38%) and BlackBerry (10%).
Precisely because of its wide range of applications that allow the iPad embrace most uses of PCs, Apple could manage to stay ahead of the market. "Many manufacturers make the same mistakes when they responded to the iPhone, with emphasis on hardware rather than on applications, services and user experience," Judge said in a statement Carolina Milanesi, analyst Gartner.
The rise of tablets should weigh this year on PC sales. Last month, Gartner has revised down its forecast for PC sales, which should grow 10% in 2011 against 16% previously expected.It will sell anyway still around 387 million PCs this year, against 70 million touch pads.
* This survey (see PDF) was conducted in March 1430 with AdMob human volunteers in the United States.
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Retu to normal on global financial markets? The NYSE has taken first place in terms of IPOs in the first quarter for the first time in two years, according to the monthly survey from Ernst & Young. In total, 13.8 billion dollars have been raised on the New York Stock Exchange (NYSE) in the first quarter, representing 29.8% of $ 46.1 billion generated in the world. The Shenzhen Stock Exchange China ranked second (11.2 billion dollars of funds raised), followed by Singapore (5.6 billion dollars) and Shanghai (4.5 billion dollars).Taken as a whole, places China (including Hong Kong) are still topped the list with 110 transactions and $ 18 no fax payday loans.3 billion raised.
The comeback on Wall Street is "primarily due to higher introductions made by U.S. companies invest ment of capital and improved outlook on the economy across the Atlantic," said Frank Sebag, Ernst & Young . These transactions were made, particularly in the energy sector and health. IPOs, however, have stalled in the world (- 14% compared to first quarter 2010). And the number of transactions fell 40% from the fourth quarter 2010 to $ 290. Geopolitical risks in the Middle East and disasters have dissuaded some Japanese companies to carry out their plans for IPO.
And if the Renault spy case was based on a simple internal settling of scores? Having missed so far, this track is not ruled according to a source close to the investigation quoted by Le Parisien on Saturday.
She says an employee of Renault 'close' to Michel Balthazar, former head of the division "upstream projects and services" of the company and laid off in January with two other executives, Matthieu Tenenbaum Rochette and Bertrand, was the author of the famous anonymous letter sent in late August at the direction of Renault.
"In May this year, I saw Michael Balthazard negotiate a jar of wine, claiming that if Bob Bell took advantage of F1, also wanted to enjoy it and feed his bank account," says the author literally. Without the quote, it also aims Matthew Tenenbaum."During another conversation, he (Michel Balthazar, Ed) spoke of a young man (Matthew Tenenbaum, Ed) which quickly understood how it works to fill his bank account," he adds.
Renault has made "mistakes"
Recognizing not have "no evidence", the "Raven" was threatening the management of Renault. "Without checking action on your part, I would not hesitate in a few weeks to send the letter to the press." But according to RTL radio, which obtained one of the anonymous letters, the document aimed Michel Balthazard contains "no details or overwhelming potential to advance the investigation."
Anyway, the contents of this letter plot."Who else but a close security service may Renault whether audits will be conducted?" Asks Maitre Thibault de Montbrial, lawyer Matthew Tenenbaum.
The Central Directorate of Internal Intelligence (DCRI), responsible for investigating this matter, and would guide his research on the environment "very close" to Michel Balthazard. A dozen people are suspected by investigators.
For its part, Renault, however, convinced he has been betrayed by three executives who allegedly leaked confidential information, now acknowledges having made "mistakes." And if the automaker had wrongfully dismissed three executives on false accusations from a "raven" still an employee of the group? This would then no longer one but two crises that the automaker should be managed.
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The tense situation in Egypt did not create panic among French tourists. The Association of Tour Operators (Ceto), tourists visiting Cairo aside, "there are no returns anticipated at this stage but returns natural." Even if all members of the association four to twenty companies have proposed to organize the repatriation. "I got the phone number of tour operators who are willing to make decisions quickly to ensure return," said President of the Union of Travel Agents (SNAV), George Colson. Club Mediterranee announced in particular have chartered a special flight Monday from Taba and took seats on scheduled flights from Luxor to Hurghada and enable its customers to anticipate their return. Thomas Cook meanwhile, decided to keep two aircraft on hand to deal with any possible emergency repatriation.According to figures from Ceto, 6500 French tourists were on Saturday on Egyptian soil. On Monday, they were more than 2000, mostly concentrated in cities along the Red Sea, where the situation is calm, according to tour operators.
Reports or trade
Also apply all of the precautions and have suspended all new departures until Wednesday, February 3 inclusive. Until Friday, February 5 for Fram. "Customers concerned may defer travel free at a later date on Egypt or any other programmed destination and current conditions of the tour operator," Ceto said. "We apply the same measures of compensation for customers unable to go to Egypt for those who could not travel to Tunisia payday loans direct lenders.They can choose to delay their departure until October 31, 2011, or opt for another of our destinations knowing that we will refund the price difference if any, "says one in Marama. To date from 2000 to 3000 the tour operator customers have decided to change their travel, particularly those with holiday dates are not flexible.
New destinations for next summer
Planners, the French also anticipate their summer holidays. Tunisia and Egypt every year, attracting over one million visitors hex. A tourist trade which are beginning to benefit from other countries, too sunny, and offering similar prices. France and the Riviera residing too dear, three destinations have won a great success. "We have seen bookings for Spain increased by 50% and those for Greece and Turkey to grow by 30%," enthuses Marmara.The tour operator said that "the French take it very early this year to book because they fear a run on these destinations and consequently higher prices." He said the desertion of Egypt and Tunisia should nevertheless be short-lived: "When will reopen these destinations, tourists depart. You do not forget the pyramids for any other destination. "
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