Made with a hidden camera and broadcast for the first time Friday on ABC, the video was shot by Mercy for Animals Association (Pity for animals) in a poultry farm in Minnesota "Sparbo Egg Farms" .

Buoyed by the performance of large U.S. companies, the market will also confident about the progress of the sovereign debt crisis in the eurozone as EU leaders have pledged to agree on a solution by Wednesday. Sunday will begin a crucial summit and Paris and Berlin have announced that Nicolas Sarkozy and Angela Merkel will hold talks in Brussels the day before to prepare an "ambitious and comprehensive response" to the crisis.Concrete measures will be considered Sunday to be adopted during a second peak "no later than Wednesday."

Discussions will focus on how to increase the capacity of the European Financial Stability Fund (EFSF), but also on the rescue of Greece. Meanwhile, in Greece, the anti-austerity continues. A new law has been de rigueur in the Greek Parliament voted Thursday. This Friday night, the euro area has announced its approval of the sixth tranche of aid to Greece scheduled in the first rescue plan adopted last year. Remains the green light from the IMF co-finance the loan.

Summit high risk in Europe

For many observers, however, profound differences remain between France and Germany. "There is no joint proposal" European at the moment, has acknowledged Thursday the German Finance Minister Wolfgang Schäuble.For his part, President of the European Commission Jose Manuel Barroso called on Europeans to "compromise" to reach decisions "resolved" and "immediate."

Another failure might further undermine investor confidence in the ability of Europeans to fight effectively against the debt crisis. They would now have a highly sensitive situation at the G20 to be held in early November.

Pressure rating agencies

Rating agencies are increasing the pressure on the euro area. After Moody's, S & P raised doubts about the AAA rating of the long-term debt of France.The agency suggests a probable degradation of notes France, Spain, Italy, Ireland and Portugal according to economic conditions.

On the macroeconomic front there was no major indicator not on the agenda of U.S. investors no credit check payday loans.

On the foreign exchange market, the euro lost ground to 1.3893 dollars against 1.3772 dollars on Thursday night. Oil prices ended in a disorganized after rising following the announcement of the disappearance of the former Libyan leader Muammar Gaddafi. The barrel of "light sweet crude" for December delivery gained $ 1.33 to 87.40 dollars on the New York Mercantile Exchange. On the week, won 60 cents per barrel.In London, a barrel of Brent North Sea crude for December delivery lost 20 cents to 109.56 dollars on the Intercontinental Exchange (ICE).

Earnings rise for McDonald's and Microsoft

The side of values, General Electric (-1.92% to 16.31 dollars) announced Friday that it saw its net profit rise by 18% in the third quarter to $ 2.4 billion, in line with market expectations and announced an increase to rely on double-digit earnings per share in 2012.

Verizon Communications (0.86% to 37.42 dollars) recorded a profit in the third quarter of $ 1.38 billion, against 659 million (23 cents) a year earlier. The turnover registered at 27.9 billion against $ 26.5 billion over the same period a year ago.

Honeyell (5.82% to 51.28 dollars) has announced a 45% increase in net profit in the third quarter to 862 million.

The world's leading fast food McDonald's (3.72% to 92.32 dollars), reported a net income above expectations at 1.51 billion dollars against 1.39 billion a year earlier.

Schlumberger (-0.90% to 67.38 dollars), worldwide leader of services to the oil industry, announced a profit lower than expected in the third quarter, with $ 1.3 billion (96 cents per share) against a , 7 billion ($ 1.38 per share) a year earlier.

After the close Thursday, Microsoft (0.44% to 27.16 dollars) issued for the first quarter, revenues of $ 17.4 billion, up 7% year on year. Net income reached 5.74 billion, up 6%, while earnings per share rose 10% to $ 0.68.

Capital One Financial (6.94% to 43.29 dollars) issued for the third quarter net income of $ 813 million against 803 million last year and 911 million in the second quarter.

Note also, from Monday, October 24, the company Groupon, which specializes in online distribution of discount coupons for shopping in local markets, should do its IPO on the basis of a valuation from October to December billion. However, it is far from the capitalization of 15 to 20 billion, of which Andrew Mason, founder of the company was still dreaming in June.

The U.S. president also defended the stimulus package he presented to Congress a month ago, ensuring that the plan "will help us guard against a further decline in activity if the situation were to worsen in Europe ".The plan "will support economic growth, he put people back to work," he added, while the Senate is to decide next week on the proposed $ 447 billion, already described as "dead" by the opposition Republican majority in the House. "Unless we act, the opposite will happen: there will be fewer jobs, less growth," warned the president.

Beijing, which was ready in early to invest more in Europe to diversify its three trillion dollars in reserves, could turn back if the situation does not improve quickly. "If Europe continues to dither, the situation can get worse. Foreigners who wish to help will not dare and the euro area will disintegrate.This would be a disaster for Europe and the world, "said the daily.

Nicolas Sarkozy will discuss with Angela Merkel

At the opening of Summer Davos Forum, Chinese Premier Wen Jiabao, however, had expressed his confidence in the euro zone leaders business card templates. "China believes that the European economy can bounce back," he explained. Support has already been taken in Greece, Portugal, Spain, and Hungary.

Friday, Nicolas Sarkozy, who met Greek Prime Minister George Papandreou, has again reaffirmed the determination of Paris and Berlin to support the country in which the probable default of most concern global investors. This last debate "in the coming days" with Angela Merkel of the rapid implementation of measures decided on July 21 to stabilize the euro area.For its part, Greece has called an extraordinary cabinet meeting of his government on Sunday.

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Elsewhere in Europe, financial markets have ended in no particular order: the Dax in Frankfurt Stock Exchange gained 1.10% to 5639.58 points while the London FTSE lost 0.40% to 5196.84 points.

U.S. GDP revised upward

At this good news were added two macroeconomic indicators on encouraging U.S. economic health in America payday loans guaranteed no fax. The weekly jobless claims fell in the week to September 24, at 391,000 against 428,000 the previous week. In addition, the gross domestic product (GDP) was U.S. revised upward for the second quarter, up 1.3% of gross domestic product.

In this context, the industry finally has clearly supported the Paris stock exchange.The three main French banks and post three of the four largest increases in the CAC 40. Societe Generale rose 5.82% to 21.08 euros, BNP Paribas has acquired 5.01% to 31.14 euros and Credit Agricole rose 4.37% to 5.40 euros. The insurer Axa also benefits from this renewed optimism, the title winner 2.85% to 10.28 euros.

EADS, which has won more than 4% over the last two sessions, continued to grow after that Airbus has won its bid on the Danish Satair, gaining 96.7% of the company. The stock rose 1.50% to 21.59 euros. For its part, EDF announced an order for 44 steam generators for nuclear power plants of 1300 megawatts and French gains 1.40% to 22.13 euros.

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.

The reversal was also performed in London, the FTSE-100 clinching 0.80% to 5437.66 points while in Frankfurt the Dax is recovering well, while remaining slightly in the red (- , 016%, to 5775.70 points.

After waiting game shown on Thursday, investors therefore welcomed the announcement by mid-afternoon of a manufacturing sector still growing in August to the other side of the Altantic, while experts expected a decline over the period. The announcement of a high relapse U.S. construction spending in July, reflecting the weak housing market has not dampened the optimism of the markets recovered this afternoon, somewhat reassured about the state the U.S. economy.Especially on the eve of the highly anticipated monthly employment report, the number of inscriptions hebdomadairres unemployed fell during the week to August 27, at 409,000 against 421,000 the previous week, said the Department of Labor (410 000 entries expected).

These new on the health of the U.S. economy and restore color to the dollar against the dollar. To 15 hours, the European currency was worth 1.4295 dollars against 1.4374 dollars late Wednesday.

Indicators most disappointing in Europe

In the euro area, the final manufacturing PMI contracted in August for the first time since September 2009 due to a fall in output and new orders. The index calculated by Markit PMI final spring to 49.0 in August, against an initial estimate of 49.7 and after 50.4 in July.The German manufacturing sector slowed in August, including at its lowest in almost two years, to 50.9 after 52.0 in July. In France, the PMI industry has returned to 49.1 against 50.5 in July, an even sharper decline than that reflected by the flash estimate of 49.3 issued two weeks ago.

Also in France, the unemployment rate as defined in International Labour Office (ILO) decreased slightly by 0.1 points in the second quarter to 9.1% on average in metropolitan (9.6% including the departments of overseas), according to data seasonally adjusted (SA) Interim released Thursday by INSEE.

As for the oil markets, disappointing manufacturing indicator in Europe weigh on oil prices.At midday, a barrel of Brent North Sea crude for October delivery was trading at 114.04 dollars in London, down 81 cents from the close of Wednesday.

Values ​​to follow

Banking

Greek debt is out of control and the measures taken by the government can not restore the finances, the report of an independent parliamentary commission on Wednesday. After suffering the first part of the meeting, the bank will resume, however, also: Société Générale advance of 1.13% to 23.64 euros, BNP Paribas is down 1.06% to 35.51 euros, Crédit Agricole will pard more than 2.98% to 6.63 euros. Axa and advance 0.76% to 2.37% to 11.26 euros.

Peugeot: -3.02% to 20.69 euros, Renault: -3.03% to 27.48 euros, Michelin: -2.65% to 49.64 euros

The new car registrations were up 3.2% in August.But sales of SAP were down 3% and 1.4% of Renault.

Fimalac: + 6.30% to 26 euros

Fimalac accounted for more than 6% Thursday on the Paris Stock Exchange after the announcement of the sale of its Canadian subsidiary Algorithmics, specializing in software for the financial industry, the U.S. IBM.

Eramet: -2 payday loans.32% to 145.55 euros

The CEO of Eramet, Patrick Buffet, asked Thursday to New Caledonia guarantees the stability of capital and access to resources of nickel subsidiary of the archipelago, Société Le Nickel (SLN) . Mr. Buffett made the requests in the renewal of the shareholders, linking Eramet-SLN since 2000 and the three provinces of New Caledonia.The latter hold through the STCPI 34% stake in SLN and 4% of Eramet.

Sanofi: -0.18% to EUR 50.57

The group reached an agreement with Pfizer to produce generic versions of Lipitor cholesterol before the star of the American group from falling into the public domain, writes Les Echos newspaper on Wednesday.

Total: -0.24% to 34.92 euros

The National Transitional Council (CNT) Libya has promised to give to France 35% of crude oil from Libya in exchange for recognition of its legitimacy Paris, Liberation reported Thursday.

Iliad: + 2.55% to 85.58 euros (largest increase in the SBF 120)

The internet service provider reported in the first half of 231.000 new subscribers under its brand Free (excluding Alice), a market share of 36% and saw its EBITDA margin improved 1.4 points to 40%, or 416.4 million euros, on sales of 1.04 billion (+2.6%).

France Telecom: + 0.41% to 13.36 euros

The U.S. administration has initiated court proceedings Wednesday to block the sale of Deutsche Telekom's U.S. subsidiary T-Mobile to the giant AT & T for reasons of respect for competition.

Pernod Ricard: -2.05% to 61.22 euros

The French producer of wines and spirits, announced Thursday a 10% increase in net profit for the year 2010-2011, exceeding for the first time the billion euros.

Eurazeo: -3.93% to 38.09 euros

The investment company said Thursday in a loss of 106.3 million euros in the first half due to losses on derivatives and goodwill

GDF Suez: -2.30% to 21.45 euros

The group said it had completed the acquisition of gas storage sites in Germany.

Eiffage: -12.24% to 29.75 euros

The new CEO of the group does not preclude the sale or closure of loss-making subsidiaries to consolidate the early resumption of the performance of the construction group observed in the first half.

Saint-Gobain: -1.64% to 34.46 euros

The group announced it would invest $ 100 million (69.41 million euros) in the United States to create a factory specializing in the manufacture of ceramic balls ("proppants") used in wells oil and gas.

Latécoère confirms its objectives

Lagardère: -10.04% to 21.41 euros

The group was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.

Maurel et Prom: + 0.38% to 14.54 euros

The group took the first half of the increase in its oil production and high prices in oil prices to clear the results up sharply.

Guyenne et Gascogne: -3.20% to 85.91%

The group reported a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.

Latécoère: + 0.09% to 10.78 euros

The group, whose net income rebounded sharply during the first half, confirmed its targets for operating profit in 2011 and 2012.

Theolia: + 11.43% to 1.17 euros

The group reported Wednesday a recovery in its interim results, the French wind power has reduced its interest expense over the period, particularly through the conversion action of nearly two million of bonds.

After market, Neopost will publish its revenue for the second quarter and Stallergenes results for the first half.

It is precisely here that the speech of the day was to shed light.Investors hoped a higher profile, particularly on the implementation or not of a third program of monetary easing (or quantitative easing EQ3), after two other applications since 2008.

Ben Bernanke returns the ball in the political

"The Fed has a range of instruments to provide economic stimulus," said Ben Bernanke, however, supported. Insufficient to convince. For the other hand, the Fed chairman said that U.S. politicians had more room for growth, calling for fiscal stimulus. A sentence which leaves in doubt the ability or willingness-to-the Fed to reignite growth overseas.

"The Fed will certainly do its utmost to help restore growth rates and employment rates in an environment of price stability.However, most of the economic policy measures to support the long-term growth is a spring outside the central bank, "said Ben Bernanke.

The Fed chairman has confirmed rely on weak economic growth in the short term, after the Fed revised its growth goals of the U payday loans with no fax.S. economy, but did not specify the extent of this reduction.While recognizing that the crisis is more difficult than expected a few months ago, Ben Bernanke refuses to show alarming: he predicts that U.S. GDP "should improve" the second half and that inflation will gradually subside, and return to less than 2%.

He said he was also confident "in the fact that [his] colleagues in Europe have completely aware of what is at stake in the difficult problems they face today and that over time it will take all necessary measures and appropriate to address them fully and effectively. "

Deception temporary markets

Initially, this lack of concrete measures to try to revive an economy whose recovery is "much less robust than expected" in the words of Ben Bernanke, has dampened market expectations, suspended for two days this intervention .Sign of these expectations, the U.S. indices, already feverish, have widened their losses immediately after the announcement of the postponement within a month of discussions at the Fed on possible support measures. Similarly, in Paris the CAC 40 index plunged more than 3%.

But an hour after the intervention, investors rallied. The index in Paris reduced its losses, while on Wall Street, the Dow returned to the same balance. The markets have indeed put their disappointment. If the hope of a decision of intervention by the Fed was huge, the probability that a major action plan to be presented today was very thin, many commentators had warned in recent days.

"The mountain of pharmacies in these areas have alerted us, says we in the trade association of the drug industry, because in general, breaks off and still found the result of bad weather, or social movements. " This was not necessarily the case in recent months."For some specific drugs, including antiretrovirals, there is a significant difference between the amounts made available to the distribution channel for businesses, and far below the number of units issued by the city pharmacies" confirms the organization.

In this case, then those products which go missing? According to Leem, some drugs would be captured by "short liners," the new intermediate appeared recently (4-5 years), whose intervention "aims to capture the margins, and do not have to Unlike the traditional players, a culture of health professionals ", warns Leem.And the controversy grew about the possible disruptive effect that these new players would result in the drug market.

Introduction of quotas

These new entrants are currently only 2.5% of the market for thirty entities in competition with wholesale distributors, who are the traditional intermediaries between laboratories and the approximately 23,000 French owners of pharmacies. "This is especially true for drugs produced and distributed in small quantities, such as antiretroviral (ARV) where their intervention significantly affects the fluidity of the market, says Emmanuel Déchin, general secretary of the Chambre Syndicale in the pharmaceutical distribution (CSRP) , which comprises seven members, representing 97% of the French market."We know that none of these ARV box which is sold is intended for the French market.".

In addition, since the early 2000s in France, every distribution is given by pharmaceutical companies, quotas based on national market share. "We understand the concern of an economic actor such as a laboratory to better control the flow of production, Emmanuel Déchin tempers. But it also induces more rigid and can penalize us and expose us to break. " Today, about 600 drugs on the 5300 allowed the French market are subject to these quotas. And strong demand in France for some products, lead to regular stock-outs on nearly 270 specialties, according to the Union of pharmacists (USPO) payday loan lenders.

Also advancing to explain that some pharmaceutical giants, if dispatchers do not hesitate to reserve a portion of their stocks of the more "lucrative". Indeed, patented products still sell for an average of three to five times more expensive in the U.S. than in France. And even within the European Union, large disparities persist. On average, the products can be sold 20% more expensive in Germany than in France, while in Spain, prices are generally lower than 10%. "I do not honestly believe that a laboratory, despite its economic imperatives, can do this type of arbitrage to the detriment of the health of patients' tempers Déchin Emmanuel.

The health minister is prepared to legislate

For his part, and face these charges, the Health Minister Xavier Bertrand was firm: "These systems are known to parallel importation, but I do not want that.What is planned for France should be consumed in France, "he said on Europe 1 radio on Tuesday. He was prepared to legislate if laboratories and wholesalers did not meet their obligations, "or you meet your quota, or I will oblige with a new text, he said. It's a shame to come here but I will not hesitate one second to do so. "

Therefore, to overcome these difficulties, some small pharmacists have no choice but to defeat the usual, explains that another pharmacist in a small pharmacy (800,000 euros of annual turnover): "either we manage with co-major pharmacies that are generally better off than us, or we go directly to the laboratory control. But this can only be temporary, because of course we pay more than the wholesaler! ".For two or three years, the pharmacist admitted being increasingly confronted with such situations, including antiretrovirals and cancer. Clearly, treatments that can not wait. Troubleshooting

Faced with this shortage, Leem and the French Agency for Safety of Health Products (AFSSAPS) have set up emergency solutions (stocks troubleshooting, short circuit …) and special issues to avoid the maximum out-of treatment for patients. A temporary workaround, which can not do without an in-depth study of the new challenges of the French system of drug distribution. What the Department of Competition and Fraud (DGCCRF) seems to be addressing.

In turn, dispatchers did not call for the abolition of quotas, nor to that of intra-EU trade, but felt that the resolution of this issue "very complex" pass through "pragmatism and a sense of responsibility on the part of all actors in the chain, given the economic pressure to which they are subjected. "

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In the camp of indignation, Ségolène Royal and Arnaud Montebourg topped. To say, the former candidate of 2007 was even offered the platform of the press room of the Rue de Solferino, usually reserved for the party's spokesman Martine Aubry or when she was first secretary function. The PS has made available to candidates for the primary means of its head, and still continuing the campaign, Ségolène Royal has given her a highly formal intervention. "This agreement lifejacket.We close the gaps, "she was outraged by asking managers to make decisions this summer on four issues: the establishment of a European sovereign fund, the appointment of a" commander in chief against crisis financial, "the prohibition of speculation and reform of credit rating agencies.

Arnaud Montebourg same tone in which denounced the "four unacceptable defects" of the rescue plan, including the fact that in his view, the risk of contagion to fragile states is not halted. Arnaud Montebourg also regretted that the banking sector is spared and that the plan "wrongly perpetuates the obsession with austerity."

"Strengthening the political union"

Candidate also the primary PS, the head of the Radical Left, Jean-Michel Baylet, lamented that "the vicious circle of speculation" is not halted.Just under back, François Hollande found the agreement "late" and "inadequate", while acknowledging that it was "necessary." "Like nothing lasting has been hired, we remain vulnerable and therefore much remains to be done," assured the former first secretary of the PS.

Finally, the most moderate responses came from Martine Aubry and Manuel Valls. While denouncing the weight of the rating agencies and regretting that it took to reach an agreement, "offer guarantees costly for Europe and Greece," the mayor of Lille called for "building the Government the euro. " Previously, the first secretary of the PS, on leave from his position, had welcomed the agreement between the leaders of the euro area."We had the Greek people, we were in Europe," she explained in a statement.

Also playing on the line of responsible political leader, Manuel Valls, for his part welcomed the agreement. "Put up against the wall, the heads of states of the euro area (…) are finally out of the inaction of the past few weeks," he said. But the deputy mayor of Evry has also called for further, to "establish a political action settled, peaceful and sustainable in order to strengthen the political union and the challenges of economic globalization."