Closing reassuring Wall Street yesterday gave a positive impetus for the Paris Stock Exchange on Tuesday. While Asian investors have been cautious, the CAC 40 chooses the path upward. The index advancing 0.91% to 4:20 p.m. at 3672 points.
The French markets are still worn by banking shares. Yesterday, the shares had already boosted the index, in response to the publication of results of stress tests on Friday. On Tuesday, they are top of the ACC: Credit Agricole takes 8.53% to 10.47 euros, BNP Paribas 5.71% at 53.91 euros, Societe Generale 8.06% to 43.21 euros and Dexia 7 02% to 3.86 euros.
Elsewhere in Europe, the increase also dominates. The London Stock Exchange ahead of 0.80% to 5394.10 points. The DAX index of the Frankfurt Stock Exchange is gaining 0.49% to 6224.60 points.
Yesterday the key index in Paris managed to keep the threshold of 3600 points despite an early meeting very hesitant.Good numbers of U.S. homes have played an especially comforting to investors. And on Tuesday, rebelote: the Case-Shiller index of home prices meets the individual operators offering. It rose more than expected in May in the United States, +0.5%. The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.
But the Conference Board index, published in 16 hours, fell for the second straight month in July fell to its lowest level since February, to 50.4 in July against 54.3 (revised from 52.9) in JuneAn advertisement that has a little cooled investors.
After trading, the markets will see the unemployment figures for the month of June in France.
In addition, the Department of Ecology has announced that the number of starts of new homes in France fell 0.3% for the period April-May to June, compared to the same period a year ago, while the number of building permits recorded an increase of 25%.
On the foreign exchange market, the euro continues against the greenback. Around 1530, the euro was worth just under $ 1.30, but the threshold was crossed earlier.
Publication Burst
On Tuesday, the publications will be honored at the Paris Bourse:
Danone (-3.65% to 44.63 euros) announced before market opening a current net profit in the second quarter of 848 million euros and a turnover of 4.386 billion euros.The group raised its sales target of 2010 and provides a comparable increase of at least 6% against at least 5% previously.
Altran (7.46% to 3.24 euros) has reported a turnover of the second quarter 2010 from 357.6 million euros (+2.3%). The group expects a significant improvement in the margin in the second half of 2010.
The Land of the Regions (-0.12% to 72.85 euros) published a recurring net profit increased 1.1% to 153.4 million for its first half, with rents of 264.1 million , up 1.7% at constant perimeter and an occupancy rate of 94.4%.However, its net asset value, excluding financial instruments, stood at 73.20 euros per share, down from late 2009 due to the distribution of a special dividend for 2009, consisting of 3 30 euros in cash and six Beni Stabili shares, 52.5% owned subsidiary acquired in 2007
Note that M6 (-0.14%) will announce its interim results to 17 hours. Vinci (+0.29%) and Fleury Michon (stable) publish their turnover in the period after the stock market. Compagnie des Alpes (-0.72%) will announce its third quarter revenues.Meanwhile, Air France KLM (+0.69%) will release first quarter results are as LVMH (-1.26%) will release its first half results.
Sanofi repulsed Klepierre sanctioned
The U.S. biotechnology company Genzyme has rejected a buyout proposal made by Sanofi Aventis (-0.58% to 45.32 euros) according to Bloomberg.
Capgemini (-0.91% to 35.05 euros) has announced the signing of a 6-year contract between its subsidiary Capgemini UK and Royal Mail Group Limited (RMG), the British postal service, for its service management computer.
Klepierre (-4.56% to 24.67 euros), revised down slightly its 2010 targets of current cash flow and rents, the prospect of austerity plans in Europe have slowed the recovery of consumption.The land has produced a net current cash flow per share down 1.7% to 0.99 euro in the first half.
ICADE (0.56% to 73.47 euros) on Monday announced a net profit in the first half more than eight times while its net current cash flow per share, affected by the low profitability of its development division, declined 21%. Icade should propose a special dividend payment of at least four euros in the second half, tied to sales of homes.
April Group (-2.83% to 19.77 euros), saw the decline in sales accelerated to 12.9% in the first half.This is explained by the group with a focus on its brokerage business, which should result in a decrease of 25% of the insurance business in 2010.
Finally, Technicolor (2.96% to 4.18 euros) received a firm offer from the private equity fund Francisco Partners for the acquisition of the "broadcast professional" Grass Valley.
In as little as 15 minutes you can receive online life insurance quotes without medical exam for coverage up to $500,000.Like its American and Asian counterparts, and after a timid rebound on Wednesday the Paris Stock Exchange began the session this Thursday in sharp decline. The CAC 40, which has started on a decline of 1.63% to 3386.79 points, has rapidly accelerated its fall to yield more than 2%. Less than half an hour after the start of trade, the key index in Paris fell by 2.10% to 3370.45 points, before giving further 1.46% in mid-day at 3392.59 points.
The excitement is palpable. The loans outstanding of the European Central Bank to banks reached a record high Wednesday, above the threshold of 900 billion euros, while financial institutions must reimburse to the ECB on Thursday of 442 billion euros funds a year. A true test, highly anticipated by the markets.We'll know if banks are able or not to repay their loans.
It has also learned that the banks have borrowed 111.2 billion euros in six days with the European Central Bank (ECB) as part of a special operation that indicate a withdrawal of money market funds. What is not reassuring, as this could lead to higher interbank interest rates.
The loans outstanding of the European Central Bank to banks reached a record high Wednesday, above the threshold of 900 billion euros, while financial institutions must reimburse the ECB on Thursday of 442 billion euros of funds one year. The threat of Moody's notes the degrade of Spain crystallize attention throughout the day. The U.S. credit rating agency put the sovereign rating of Spain under surveillance.Moody's points to weak growth prospects of its economy.
Moreover, the adoption in the United States House of Representatives by the financial sector reform, discussed for months, will attract the attention of investors. The new legislation will include Washington's financial institutions restructure in bankruptcy, for failing to conduct further rescue operations financed by the state. The powers of the Federal Reserve (Fed) are expanded, a monitoring of the sector is expected and will give consumers more protection.
Hedge funds and rating agencies will be subject to more stringent regulations.The text must be approved by the Senate next week before being signed by Barack Obama.
In terms of statistics, INSEE announced this morning that producer prices remained stable in France in May after rising 1.0% in April, but they recorded an increase of 4.3% over year.
Moreover, in the euro area, the manufacturing sector recorded in June the slowest growth in four months. PMI final Markit purchasing managers stood at 55.6 in June In France, the PMI fell to 55.8, its lowest level since December 2009. In Germany, it remained stable at 58.4.
Overseas, the jobless claims will be released at 16 hours and the promise of home sales and the ISM index of manufacturing activity.Indicators highly anticipated before the release this Friday of U.S. employment figures.
The car in the viewfinder
In terms of corporate value is not in the green in the morning.
EADS shares (-2.34% to 16.47 euros) will be particularly followed. Indeed, the WTO has imposed a setback scathing EU ordering him to remove certain export subsidies provided to Airbus. The Union will appeal the decision of the World. Financial details have not been disclosed. Boeing believes that the pan-European aircraft manufacturer must pay back $ 4 billion of undue subsidies. But the WTO has put forward any figures, it will be difficult to see clearly the consequences of the decision of the international organization.
Moreover, the numbers of registrations in France will be unveiled on Thursday at noon.They finally fell 1.2% in June. In addition, the phasing of the scrappage scheme does not allow a glimpse of the market recovery in the immediate future. Renault (-2.27% to 30.08 euros) would be the big winner in first quarter sales thanks to its built by Dacia Sandero. Peugeot was down 2.42% to 20.55 euros, while Michelin loose 1.97% to 56.59 euros.
Out CAC40, Faurecia (-1.66% to 13 euros) has unveiled the acquisition of 18.75% of the Chinese automotive Xujang Group, where he became the strategic shareholder.
Bank stocks should also once again hold the attention of investors with the repayment of a loan of 442 billion euros on Thursday. A year ago, in 1121 established banks in the euro zone had borrowed over 442 billion euros at the ECB at a fixed rate of 1%, a record in the history of European monetary institution on a single transaction.Credit Agricole lost 3.09% to 8.36 euros. It is followed by BNP Paribas (-1.85% to 43.940 euros) and Societe Generale (-1.55% to 33.770 euros).
The Société Générale will be more monitoring than the AMF (AMF), Wednesday imposed a fine of 100,000 euros to Jean-Pierre Mustier, former head of market activities of Societe Generale for failing to initiated.Conversely, Natixis has been exonerated by the AMF following an investigation into his financial disclosure.
Shareholders will also be sensitive to the decision of Saint Gobain (-0.70% to 30.680 euros) to repay 72.1% of the 2009 dividend in shares to allow the group to consolidate its equity by 368 million euros.
In addition, the Sanofi-Aventis (-1.95% to 48.565 euros) may react to the decision of the U.S. Food to MultEQ, an arrhythmia drug cons of the French group on the quarterly list of audits.
France Telecom (-0.95% to 14.150 euros) will also be under the spotlight. The operator presents its new internal business plan
Tens of thousands of trade unionists yesterday converged toward the center of Rome at the invitation of the CGIL, the main federation of workers in Italy (5.5 million members).
Shouting "not only on our shoulders," they denounced the sacrifices imposed by the government of Silvio Berlusconi to reduce the public deficit from 5.3% to 3.9% next year and 2.7% of GDP 2012.
At a rally Piazza del Popolo, Guglielmo Epifani, Secretary General of the CGIL, reiterated that his organization was not opposed to a correction of the accounts of the state. "We reject this maneuver only made budget cuts without structural reforms or measures to support investment, particularly in public education and research," he told Le Figaro before the start of the event."Those who will pay for will mainly employees and the lowest incomes while wealth and annuities will not be affected."
Guglielmo Epifani also calls for a broad mobilization to invite the Parliament, which will begin consideration of the bill next week "to modify" cash advance till payday.
The CGIL has launched on June 25 a word of general strike of four hours in the private sector and the public 24 hours.
For its part, the Democratic Party (PD), the main opposition, has announced a rally against the plan "unfair" in Rome June 19 while magistrates, public sector doctors and world culture multiply protests.
The government plans to freeze wages and hiring in the civil service for two years and 10% reduction in the allocation of ministries and local authorities.No new taxes would be raised and the taxation of financial income would continue to benefit from a preferential rate, but a greater effort would be made against tax evasion.
For the Bank of Italy, the austerity plan could result in a reduction of O, 5% of GDP in 2011/2012 "as a result of compression of consumption and investment." Italy expects a growth of 1% this year and 1.5% in 2011.
Malta takes a very dim view of the opening of the French market paris online and does everything to slow the process. This is the poker from the first to pay the price. Indeed, the opening to competition of the French market of online poker is postponed for one month, until late June because of an obstruction of Malta under EU rules, said the Agency France Presse (AFP) the entourage of the Department of Budget and confirming information site Challenges.fr
"We can not publish the implementation decree (for poker online) before June 28 It postponed a month because we are forced Malta, "says one with services Françoise Baroin.
A French law "relating to the introduction of competition and industry regulation of gambling and online gambling" was promulgated on May 13, followed by a dozen decrees.This legislation relates to sports paris, the paris horse and poker.
The Regulatory Authority online games (Arjel) should issue next Tuesday fifteen licenses to operators of online games, especially in order to start the paris during the FIFA World Cup (June 11-July 11 ).
Problem European procedure
The government had sent there over a year to the European Commission's draft legislation on online gaming, then notified Brussels implementing decrees, said the Budget Ministry online pay day loans. "Member States (EU) had three months to make their comments and Malta has chosen to do May 27", ie the last moment. France is obliged to meet in Brussels and Malta before issuing his decree. Paris now has one month to respond.
Malta, already established on the market for online games, contests a provision of the French law requiring players to register with an approved operator. This is contrary to the EU principle of free movement of persons and property.
"There is no problem on the merits. It is simply a procedural problem in Europe, as it has been commented at Bercy, stating that the grant Arjel as planned on Tuesday for its amenities paris sports, horse and poker. For the latter, many traders will await publication of the decree in late June. Still, the situation is embarrassing for the operators. Bwin, Unibet and Unibet already offer online poker. And waiting for regulatory approval to regularize their situation.
At the opening, the Dow Jones was down 0.25% at 10,845 points, the S & P 500 fold from 0.03% to 1166 points and the Nasdaq 0.34% loose, to 1966 points.
On Wednesday, the three major indexes in New York posted strong gains Wednesday.
Eight banks covered by a survey
The Attorney General of New York has opened an investigation into eight banks, including Credit Agricole, to determine if they had provided misleading information about their mortgages before the subprime crisis, "according to The New York Times.Goldman Sachs (-0.57% to 146.36 dollars), Morgan Stanley (1.29% to 28.16 dollars), UBS, Citigroup (-1.68% to 4.11 dollars), JP Morgan & Chase (-0.62% to 41.43 dollars), Credit Suisse, Deutsche Bank, Bank of America-Merrill Lynch (+0.24% to 17.11 dollars) and Credit Agricole in the crosshairs.
The dollar continued its rise against the euro
The euro fell Thursday to a level that was hers before the announcement of the stabilization plan of the European Union and the International Monetary Fund (IMF).The single currency traded at 1.2586 dollars, down 0.3% on the day, approaching its lowest level in 14 months.
Decline in number of unemployed weaker than expected
The resurgence of the greenback is supported by the fourth consecutive decrease the number of newly unemployed in the United States, according to figures released Thursday by the Labor Department in Washington cash advance america. The ministry said 444,000 new jobless claims were submitted from May 2 to 8, or 0.9% less than the previous week (in seasonally adjusted data).
Oil prices opened sharply lower Thursday in New York, a barrel of benchmark lost 1.47 dollars to 74.18 dollars. Wednesday crude inventories rose 1.9 million barrels to 362.5 million.Economists on average had expected a rise of 1.3 million barrels.
Contracts awarded on the prudence of Cisco
The Japanese electronics giant Sony (-2.47% to 32.42 dollars) confirmed Thursday it had ended the fiscal year 2009-2010 on a net deficit reduced to 40.8 billion yen (312 million euros ), reflecting a return to the green on the plan of operation, through reductions in fixed costs. Sony also said Thursday that he hoped to finish the fiscal year began last April, and will be closed in March 2011, a net profit of 50 billion yen (about 400 million euros).
Cisco (-3.42% to 25.83 dollars) has announced its profit jumped 63%, but its CEO said that caution was in order.
Can you still perform in France? At a time when a movement of deindustrialization affects the Hexagon, Saint-Gobain slice on the downturn. On Wednesday, the group inaugurated in Chemill? glass, next to Angers, a glass wool factory last generation called G3. A major investment (100 million euros) with the key, the immediate creation of 75 jobs including 25 items made by subcontractors on the site. And when the unit running at full capacity it will employ 150 people. A move welcomed by Prime Minister Francois Fillon, present at the inauguration: "In France, we built factories! You are proof that our country has an industrial future. "There is no inevitability to the relocation, he said the group's CEO, Pierre-Andre de Chalendar.The cost of labor, even if it is too high in France, is not always an obstacle to industrialization. "
That was 38 years, Saint-Gobain had not started a manufacturing plant in France this kind of product. But other businesses of the group have also recently made the choice of production in France. Mid-February, Saint-Gobain has finalized the extension of a site that makes double glazing Crissey, near Chalon-sur-Saone. With again a few tens of indirect jobs.
Sustainability
If Saint-Gobain is the bet of "Made in France", is by economic realism. "Once the glass wool travel more than 400 to 500 km, transport costs become excessive, recognizes Xavier de Maistre, General Manager France of Saint-Gobain Isover.We therefore produce locally for local markets. "In this case, the group chose to locate in Maine-et-Loire, for he had no factory producing glass wool to the markets of west of France.
Saint-Gobain has also launched the opening of an industrial site, because it believes in market prospects opened by the Grenelle Environment. A bet bolstered by the commitment reiterated Wednesday Francois Fillon not relegated to the status of sustainable development subtopic: "The green growth is not the end of the industry: it's renewal." Thus, Saint-Gobain will have to Chemill? a production capacity sufficient to isolate 100 000 houses per year. However, since 2012, some 300 000 to 400 000 houses built each year will be the standard BBC (building low consumption) to be very well insulated."In addition, there are 22 million buildings constructed before 1973 and 30 million non-insulated and poorly insulated," says one at Saint-Gobain Isover. In fact, the glass wool G3 is a good answer to these problems: compared to previous lines, it provides better thermal protection of 30%. What Saint-Gobain dampen somewhat the crisis currently affecting the construction industry.
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Wall Street is expected in the red pre-meeting Tuesday. Shortly before the opening of the NYSE, the index futures in the Dow Jones, Nasdaq 100 and S & P 500 declined by 0.21% at 10,517 points, from 0.05% to 1883 points and 0.03% to 1133 points.
The U.S. carriers would indeed choose to pocket a share of the gains made last week by caution before a salvo of indicators in the coming days. Especially since the main stock index hit a "low point" there is exactly one year, March 9, 2009. Since the S & P 500 has started the largest rally in history. In one year, the U.S. index has increased by almost 70%!
The next U.S. statistics are expected tomorrow with the traditional weekly report on unemployment. Weekly Market in the United States, will then be placed under the sign consumer.The two major economic indicators this week, published Friday, will be the sales details for the month of February and the preliminary estimate of consumer confidence faxless payday advance .
On the side of values, the U.S. manufacturer of electronic components, Texas Instruments has revised upward its earnings forecast for the first quarter. In a statement released after the close of the NYSE, the group said it now expects sales of between 3.07 and 3.19 billion dollars instead of 2.95 to 3 19 billion expected previously.
Also in the technology sector, Cisco Systems will announce today a new offer to speed internet connections.Analysts said the group could announce as Google, investments in new broadband network.
After the withdrawal of EADS and its U.S. partner Northrop's tanker contract to the Pentagon, whose first installment is only valued at 35 billion dollars, Boeing alone competing.
The fast food chain McDonald's should also facilitate the session after announcing yesterday a 4.8% increase in sales worldwide in February.
The CAC 40 ended the week above 3900 points, to 3910.42 points exactly, powered during the afternoon of Friday figures on U.S. employment. This Friday, the Paris stock exchange has closed up 2.14%, slightly eroded after the previous day. The sessions Monday, Tuesday and Wednesday were marked by increases comfortable leading the progression of the weekly flagship index +7.3% at Paris, from a closing price last Friday of 3640 points.
The United States has published employment figures less bad than expected. The U.S. economy has destroyed 36,000 jobs in February, according to figures released Friday by the Labor Department. It is far better than economists' forecasts. The unemployment rate held steady at 9.7%. But it remains "inadequate", according to President Obama.At the time of closing in Paris on U.S. exchanges were directed upward, the Dow Jones arrogating 0.8% at 10,531 points.
Moreover, German industry has recorded a surprise jump in orders in January, 4.3%, according to provisional figures published on Friday that far exceeds expectations, thanks to a spectacular increase of 7.1% of domestic orders .
The DAX index of 30 blue chips of the Frankfurt Stock Exchange ended Friday up 1.42% at 5877.36 points against 5795.32 the day before closing. The London Stock Exchange closed higher Friday, the FTSE-100 index of leading values winning 72.60 points, or 1.31% over the closing Thursday at 5599.76 points.
After Market (in 21 hours), the U.S. figures reveal consumer credit.
Veolia Environnement in the single red
Veolia Environnement (-4.26% to 23.94 euros) said before market in 2009 have recorded a turnover of 34.55 billion euros, down 3.4% on year, down slightly higher than expected (-2%). The titles are the only ACC to be in red.
Still later publications, Areva announced Thursday after the stock market, a 2009 operating profit up 20% to 501 million euros. The turnover showed an increase of 6.4%, to 14 billion euros and net income group share for 552 million euros (-6.3%). The title has been 1.98%, to 352.3 euros. euros.
NicOx reported Thursday a net loss of 60.4 million euros in 2009, cons -73.9 million euros in 2008.The shares gained 1.01% on 5.98, having outperformed the broad trend in recent sessions.
The markets welcomed the gesture of banks
Side of EADS (+1.98% at 15.95 euros), the client countries of the military transport plane A400M and the European industrial group EADS in Berlin on Friday reached agreement on funding for this project has told AFP the French Minister of Defense Herve Morin.
The banking sector remained well oriented on Friday: Societe Generale (+4.83% to 44.95 euros) eventually leads the CAC 40, BNP Paribas (3.67% to 56.78 euros), Credit Agricole (3.19% to 11.66 euros) and Axa (+3.17% to 15.61 eruos) were searched. Following a meeting with Nicolas Sarkozy at the Elysee, the banks have agreed to reserve 96 billion in financing small and very small.
Casino (-0.38% to 60.20 euros) should start in May its pods, modeled on that of Nespresso. In France, the market for coffee pods is estimated at 1 billion euros, half for Nespresso.
Natixis (0.90% to 3.69%) is under the radar of the AMF. A book published Thursday reveals that the former officers have disclosed false information to markets, in October 2008.
In an interview with the Financial Times, the group's boss, Jean-Bernard Levy, said he was interested in the sale of a mobile frequency by the governor of Brazil. According to analysts, this would require an investment base of over one billion euros.
In the aftermath of its worst session in 7 months, Wall Street is recovering. The U.S. stock market opened higher on very shy, taking the Dow Jones 0.05% to 10,024 points and the Nasdaq +0.37% to 2137 points. The markets reacted rather well to the employment figures published Friday. The U.S. economy still has destroyed jobs in January, 22,000 jobs, but significantly less than in December and the unemployment rate in the United States fell by 0.3 point to 9.7% during the first month of 'year, according to official figures published Friday in Washington.
For the Department, the report reflects on the business of the employment situation "almost unchanged", a sign that the U.S. economy would soon return to the net job creation, as was the case in November.
However, the disappointment is still to go, analysts hoping that the economy would have created at least 5,000 jobs over the month.These figures therefore mixed sows doubts on the speed of economic recovery overseas.
The confusion is also due to the strong upward revision in the number of job losses in all of 2009. Last year, the economy has lost a total of 4.823 million posts. This represents a fall in employment of 3.6%, the most since 1945!
The day before, the Dow Jones made his worst performance since early July, and lost more than 2.6% at 10,002 points, after a passage in the final session, under the 10 guaranteed payday loan .000 Points.
In Europe, the main squares are continuing their sharp fall, including leaded by fears concerning Greece, Spain and Portugal.
Moreover, the dollar continued its rise Friday. The European currency rose to 1.3648 dollars on Friday morning, under $ 1.37 per euro.but after the employment figures, the euro rose back above that threshold.
At the same time, commodity prices fell, oil Thursday evening closing down 5% to 73.14 dollar per barrel. This Friday, oil prices continued their fall, while an epidemic of risk aversion continued to hit commodities, the euro and equity markets, and anxiety remained high in a few hours of report U.S. employment.
Airgas to follow
Toyota should be on the radar screens of investors as the group has apologized publicly.The Japanese auto giant Toyota, which suffered a barrage of criticism and lawsuits after recalling millions of cars affected by technical faults, was Friday denied concealing these issues publicly and said that its cars are "safe".
Kraft Foods has confirmed that regulators had approved its bid for Cadbury.
Airgas has increased by over 42% yesterday on the Stock Exchange after Air Products has offered 5.1 billion dollars to buy its rival.
The official figures will be at noon. But information BFM suggest the outlines of this publication. Namely a difficult 2010, despite a January under good auspices. In fact, "we can expect good numbers in the coming weeks before a turnaround due to falling orders," anticipates does one on the radio station.
The first weeks of this years new register and the continuity of orders made last fall, boosted by the fact scrap bonus. But the whole year is expected to decline by 20% in terms of global vehicle sales. With forecasts of a little less pessimistic (-10%) for the German Volkswagen's new Polo and easy payday loans