"A fragile recovery is underway in France," J. International Monetary Fund in a report released Friday. The international institution chaired by Dominique Strauss-Kahn expects a growth of 1.6% in 2011 and 1.8% in 2012 no credit check payday loans. This is well below the government forecast of 2.5% from 2010 to 2013. The IMF had already lowered its forecast for early July 2010 to 1.4%.
The recovery continues across the Atlantic. But two of the twelve regional branches of the Fed said the pace of activity has slowed recently, Chicago and Atlanta, and two others have found a stable economic situation in Cleveland and Kansas City.
The Beige Book released Wednesday evening by the U.S. Federal Reserve and state is a better overall economy than before.Both at the point of manufacturing and services.
Sightseeing, the report underscores the strong momentum in the areas of San Francisco, New York, Minneapolis, Richmond, Kansas City and Atlanta, although the latter regrets a decline in leisure travel in the Gulf of Mexico, an area affected by the noirée tide.
On the consumer front, consumer spending during the early summer have increased overall, particularly in Dallas, but in most areas, this growth has remained low.
In the property and the trend is less successful.While the tax credit to Etats6unis expired last April 30, the Boston, Philadelphia, Atlanta and Kansas City have suffered declines in construction activity, one can read in the Beige Book.
Finally, employment has gradually improved in several areas, like New York, Chicago, Richmond and Atlanta, but has stagnated for example, Boston and Dallas.
On Wall Street, the investor response is negative. The major indexes have bent the publication of the Beige Book (20 hours, Paris time). In the end, the Dow Jones ended up on a decline of 0.38% to 10,497.96 points, the Nasdaq is up 1.04% to 226.56 points and the S & P by 0.69% to 1106.13 points.
Note that this information valuable as its Chairman of the institution, Bernanke said there just a week before Congress the slow recovery, without announcing new measures to support the economy.Please note that Friday, all eyes will be the publication of the first estimate of U.S. GDP for the second quarter of 2010.
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Crucial day on Tuesday for French nuclear. By late morning, the President convened the Council of nuclear policy, simply responsible for developing strategic thrusts of the French sector, based on the recommendations of the report Roussely.
The latter, watched impatiently for several weeks, has finally been published. Or more precisely, a synthesis of some twenty pages, available from Tuesday evening at the site of the Elysee. Originally, the former President of EDF had been instructed by Nicolas Sarkozy to consider the optimization of a sector hurt by the failure of the bidding in Abu Dhabi on the creation four stations of the future.
But more than this summary and fifteen major recommendations, the Council communiqué nuclear policy, also disclosed this Tuesday evening, which proved enlightening.He devotes just the rule of EDF on the sector. Admittedly, this rule was expected, but not necessarily rooted with such intensity.
Not only a strategic partnership agreement between EDF and Areva covering the whole of their common business will be established, but the scenario of a capital input of EDF, Areva will be studied.
So far, Areva group present on the cycle (uranium mining to reprocessing spent fuel) was working on the principle of a capital increase, but a scenario involving a stake EDF No. had never been formally considered.Conversely, in its report published in summer 2009, Jean-Cyril Spinetta, the current chairman of the supervisory board of Areva, had reversed this possibility, considering that it was inappropriate for a client of Areva entered the capital quick pay day loan.
GDF Suez absent
Meanwhile, the Council of nuclear policy has confirmed that the increased initial capital of Areva, to the tune of 15%, would be implemented before the end of the year.If EDF was to enter the capital of Areva, it would be in addition to the 15% threshold.
Meanwhile, the two companies, which face regularly on many issues, are invited to work much more efficiently.
In addition to these developments planned capital, the other major teaching issued by the Council of nuclear policy, largely supported by the report Roussely, based on the total absence of GDF Suez in this folder. However, the group led by Gerard Mestrallet have long aspired to become a nuclear operator of reference in France. It has not been heard, far from it. This should not preclude that GDF Suez may work, as EDF, on the development of a medium-power reactor. Provided that if the Council insists on nuclear policy the considerable potential of the EPR, it also stresses that the range of French reactors should be extended."To better meet the diverse needs of the customer."
In this regard, the report Roussely pin delays of the two EPR sites, one in Finland and one in the Channel.
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The report Roussely, devoted to the layout of the French nuclear industry, was discussed at midday in the context of a council of the nuclear policy statutorily chaired by the Head of State.
Written in a mission entrusted to the former President of EDF, this report was sent to Nicolas Sarkozy last May, before being classified "top secret" in the name of protecting a number sensitive data.
Eagerly anticipated by the industry, it delivers several lessons particularly interesting. Like this recommendation to create a Department of Energy. Meanwhile, the role of EDF as team leader of France's nuclear part of an international development – is clearly stated no fax cash advance.
However, this leadership role of the electrician is first and foremost, reserved for countries new entrants into the nuclear. The report also states that Roussely relationship between EDF and Areva must be much more successful. In other words, the strategic partnership between the two companies are held without being recorded numerous clashes. Finally, it is not any conclusion of this report, the GDF-Suez will become a nuclear operator of reference in France is totally ignored. In short, EDF retains all hands on this sector.
The sun should be looking good these next few days on the coast of the Vendee and Charente-Maritime. In this time of summer vacation, the sea should also be delicious. Nothing like with the weather of February 28 last, when the storm Xynthia that swept the country sowed chaos in this part of the Atlantic coast. In the only common Vendée La Faute-sur-Mer and The Sting-sur-Mer, the most affected by the storm, 29 people died. Nearly five months after tragedy, these two villages devastated recovering gradually. But in this popular tourist region during the summer, Xynthia has left marks that plagued the start of the season.
If the Office of Tourism Osten-sur-Mer laments a decline in attendance of about 10%, traders stand more negative findings."The customer is down 30% to 40%," says Pascale Soussi Restaurant La Terrasse in Sin-sur-Mer. "And it was discussed among traders: It's the same for everyone. At the restaurant La Marina, sixty meals are served daily on the usual hundreds. At the Hotel du Port, Osten-sur-Mer, Sophie Ramon prepare a statement even less favorable in the hotel which was flooded by 82 inches of water in late February and closed more than a month, attendance was halved.
Three campgrounds closed
In case the destruction of several campsites and many second homes have contributed to empty the streets of the town. A La Faute-sur-Mer, the municipal camp was finally closed and that the Blue Waves should not reopen until April 2011.As for camping Municipal The Sting-sur-Mer, it is only half available: caravans and tents can again take up residence in the "upper" since July 1. But the other part, where you could rent mobile homes, chalets and caravans, remains closed for repairs. It represents, in itself, a hundred beds and less.
Overall, La Faute-sur-Mer, about 8000 tourists were least expected, on the 35,000 usually greeted each summer. Added to an unfavorable economic situation by traders, these accommodations are destroyed a significant shortfall.
Ile de Re also shows a small decrease
A few dozen kilometers south of La Faute-sur-Mer on the Ile de Ré, the damage from the storm were less important. "The island is absolutely destroyed!", Recalled the manager of a hotel restaurant.A campsite for a works council remains closed this season and the hotel Odalys does not welcome new visitors that from 31 July.
Le Relais Thalasso, also closed after the storm has finally reopened its doors on July 4. Four months of work have been necessary for the institution to recover from the flooding that devastated forty rooms. "Today, activity resumed normally," said facility director Didier Gireau. Our forecast for the month of August are in the standard, or even good. We have made efforts to forget the flood and that the center image is not tarnished. "
But many merchants and restaurateurs of the Ile de Ré deplore this was a small decline in attendance. Some highlight the consequences of the storm, others are pointing the finger particularly the unfavorable economic environment."The economic situation is worrying," says director of Ile de Re Tourism, Catherine Senand, refusing to incrimer the storm that left "little effects" on the island. She admits that the season has "started slowly, but expects a better August.
A "moderate" impact on departments
For François Riou, assistant executive Tourist Board of the Vendee, the impact of Xynthia remains "very moderate". Only 2% of the Vendee coast has been destroyed by the storm, "a tiny fringe" which does not affect his view, the department's tourism season. Faced with a peak at half this year, local tourism professionals will therefore want reassurances on their prospects."Only two campsites are closed on the 400 account the Vendee," he recalls.
Even finding across the neighboring department: "After the storm, only 3% of the infrastructure of Charente-Maritime have been affected," said Stephane Villain, president of the Tourism Committee of the department. "The summer looks very good," he says. "The reservation rate is substantially identical to that of 2009 which was a very good year." And we promise to visitors that the hospitality will be at appointment: "People have worked hard to accommodate visitors in very good conditions," says Stephane Villain. They may be even better than usual ".
The image of the region involved
The image of the Atlantic is at stake, as evidenced by the television campaign to promote tourism in the Vendee.Circulated in early June, the commercials were intended to "remind the values of hospitality and tourism" of the department, according to François Riou.
The regions affected by Xynthia therefore trying now to convince visitors that they are again ready to welcome them, with their usual charm and tranquility.
Turnaround at the Paris Bourse. The CAC 40, which had started the session on a drop of 0.59% to 3473.48 points, the green is gone over in around 10:30 am and continues to increase its gains since. Halfway through, the key index in Paris gained 1.48% to 3545.56 points. After the opening of Wall Street, the ACC has added to his lead to cross over the 3600 points at closing and post a gain of more than 3.05% at 3,600.057 points.
Main explanation: the set of indicators published in the euro area, which show a recovery in the private sector. Can better results than expected for a large number of American business.
– Composite Index Purchasing Managers (PMI) of the area rebounded in July for the first time in three months, to 56.7 points against 56 points in June, according to the firm Markit.In detail, the PMI manufacturing stood at 56.5 in the first estimate in July against 55.6 in June, while economists polled by Reuters had expected 55.2. The equivalent index for services rose to 56.0 against 55.5 last month and a consensus of 55.
– The industrial orders in the euro area recorded its strongest growth for 10 years + 3.8% in May from April and 22.7% compared to May 2009. Economists and analysts surveyed last week by Reuters on average expected stability for May compared to April and up 20.2% over one year.
– The German manufacturing PMI index stood at 61.2 against 58.4 seen in June and 58 expected by economists. As for Britain, the Office for National Statistics reported a 0.7% increase in retail sales compared to May and 1.3% over one year.Economists and analysts on average had forecast a rise of 0.5% a month to month and 1% compared to June 2009.
In France, INSEE announced before market that the morale of French consumers had stabilized in July after five months of degradation remains unchanged at -39, -40, when analysts had expected. The business climate indicator in industry climbed two points to 98, well above the 94 expected by observers. This is its highest level since July 2008. According to INSEE, the order books are filling up again but are still scanty.
The good news is a bit overshadowed the remarks of Ben Bernanke on the U.S. economic recovery. Judge it still too slow and the outlook remains uncertain, paving the way for new measures to support monetary policy.These ads were yesterday meant to topple the Red Wall Street, while the U.S. stock market is moving in the green throughout the session credit reports free.
The bank climb until the stress test
Investors also await with anticipation the release Friday of the results of resistance testing What happened to the European banks. In an interview with Le Figaro, the Minister of Economy Christine Lagarde said she was "totally confident" about the results of French banks.
The banking sector appears up on Thursday, the eve of the results of stress tests of European banks.BNP Paribas (4.76%), Societe Generale (5.08%), Credit Agricole (5.55%) or Dexia (3.74%) were searched
Good resistance values related to the automobile
The supplier Faurecia (1.15% to 15.49 euros) announced before market coming out of the red in the first half of 2010, net income of 102 million euros against a loss of 365 million a year earlier. The group has also sharply raised its guidance for full year. Peugeot (3.15% to 23.73 euros) and Renault (3.36% to 34.26 euros) react to this new optimistic that counterbalances the announcement of a sharp decline in car registrations in Europe in June
For his part, Remy Cointreau (0.65% to 45.14 euros) announced a turnover in the first quarter of 2010 to 2011 of 170 million euros, up 23.6%.The group will propose a dividend of 1.30 euro to the general meeting of July 27, 2010.
Plastic Omnium (2.13 to 38.90 euros%) has announced a net profit of 72.3 million euros in the first half against 8 million euros a year earlier. Turnover amounted to 1.518 billion euros and the group expects a second half "dynamic".
Technip (7.42% to 52.07 euros) published a decline in its net profit by 8.7% to 106.1 million euros for a turnover down 14.3% at 1 48 billion euros. The objectives are confirmed.
Naproxcinod of Nicox rejected the U.S.
NicOx (-21.07% to 2.24 euros) could be heckled.The FDA, the authority of medicine in the United States, has rejected his request for the U.S. market Naproxcinod of this treatment against osteoarthritis, a product NicOx expects a lot.
Unibail-Rodamco (5.42% to 147.70 euros) on Wednesday decided to distribute 1.8 billion euros to its shareholders, or 20 euros per share in respect of a return of capital. The land has issued a recurring earnings per share of 4.70 euros in the first half of 2010. The band reveal all its first-half results after market close.
End of suspense. The British oil giant has reached an agreement on Tuesday with U.S. rival Apache to sell him for $ 7 billion in assets. In a statement, it said that this sale is "all production activities of oil and gas, land and infrastructure BP" in West Texas and New Mexico, and in the desert west of Egypt. In Canada, it sells its BP exploration and production of natural gas in western Alberta and British Columbia. A total of 385 million barrels of oil equivalent.
These assets accounted for in the first half total daily production of 28,000 barrels per day of liquid hydrocarbon and more than 9 million cubic meters of gas.
Moreover, a spokesman announced Tuesday that the oil company would lay off some activities within Pakistan and Vietnam.These activities mainly concern the production of natural gas. If the amount is secret, BP said that the fields had produced Pakistan last year only 4.89 million cubic meters of gas in the country, a mere 2% of its total gas production. Activities include two Vietnamese gas fields, pipelines and an electricity generation plant.
These operations are part of the creation of a fund of 20 billion dollars to reimburse the victims of the spill. BP's objective is to sell 10 billion dollars in assets.The British group said Monday that it had already disbursed $ 3.95 billion so far in miscellaneous expenses, including compensation already paid free credit report.
David Cameron "understands the anger"
The "case" BP is in any case more than ever become a political issue, potential source of diplomatic tensions between the United States and Great Britain.Following a head to head with President Barack Obama on Tuesday, British Prime Minister, David Cameron, tried to calm things down, saying that included "completely anger that exists across the U.S. "against BP and it was necessary for him" BP mouth leak, clean the area and pays just compensation. "
"BP is a major undertaking for both the British economy and for the U.S. economy thousands of jobs depend on BP on both sides of the Atlantic. So in the interest of both countries that the group remains strong and stable future, "said David Cameron.
In a study received Tuesday, ratings agency Moody's estimates that if the spill had to stop short term, it would get at least 1.2 billion dollars in lost business and loss of 17,000 jobs in the region Gulf by the end of the year."Under a more pessimistic scenario in which the oil spill would continue until December, and the moratorium decided by Obama on drilling in deep waters until the end of the year, 7.4 billion dollars of activity would be lost and more than 100,000 jobs, "concludes the study.
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The U.S. equity market, should try to regain a little high on Monday. The index futures indeed predict a slightly higher opening on Wall Street. Futures on Standard & Poor's 500 and Nasdaq 100 advancing in effect 0.55% to 1 070.50 points and 0.51% to 1 812.10 points. On Friday, the New York Stock Exchange had fallen heavily, cooled by the low morale of American consumers and a series of disappointments on corporate earnings. The Dow Jones lost 2.51% to 10,099.26 points and the Nasdaq 3.11% at 2 179.05 points. The Standard & Poor's 500 broad, fell 2.88% to 1 064.91 points.
Today on the foreign exchange market, the euro off again on the rise against the dollar in the morning.Investors took advantage of a slight decrease of the single currency during the weekend to make purchases on the cheap, while the greenback was penalized by fears about the strength of the U.S. recovery. The euro was at 1.2959 dollars against 1.2926 dollars on Friday night.
Week decisive
The week will be decisive promises to Wall Street.
The main highlight at the macroeconomic level should be bi-annual speech of the President of the Fed Ben Bernanke on the economy and monetary policy before two congressional committees. He will testify first before the Senate Banking Committee Wednesday, the day when President Barack Obama enact the law on the reform of regulation of Wall Street.And the next day, he will address the Financial Services Commission of the House of Representatives.
As for the days to come, is also a whole bunch of statistics, including real estate, with housing starts tomorrow and sales of existing homes on Thursday.
The week will also see another round of results.
According to specialists of Aurel BGC, the main publications of the week are those of IBM (now), Goldman Sachs, PepsiCo, State Street and Johnson & Johnson (Tuesday), Altria, of Eaton, eBay, EMC, Coca Cola, Wells Fargo and Qualcomm (Wednesday), 3M, AT & T, Caterpillar, UPS and Microsoft (Thursday) as well as those of Schlumberger and Verizon (Friday).
Also note, always on the side of values, the Wall Street Journal, Motorola is close to a deal to sell its business network supplier Nokia Siemens Networks for 1.2 billion dollars. Last month, Motorola announced its desire to split the company into two in the first quarter of 2011 with a side activities supplier network and the other the mobile phone business.
Also according to the Wall Street Journal the company Emirates Emirates Airline is expected to announce today an order for 30 aircraft over long-haul Boeing 777 aircraft.
The CAC 40 is left substantially in the red half an hour after the opening of Wall Street. After opening on a note hesitant index in Paris gained 0.77% to 3609.53 points. but the announcement of disappointing results that are mixed and macroeconomic statistics have undermined the morale of the few investors present that day in the markets. At 16 hours, ACC drops 2.5% to less than 3,500 points.
On the foreign exchange market, the euro is strengthening its progress against the dollar. Fears about the economic recovery in the U.S., more and more vivid, weigh on the dollar.At mid-session, the euro was worth 1.2971 dollars against 1.2941 dollars the previous day.
On the macroeconomic front, consumer prices in the U.S. declined for the third consecutive month in June because of falling energy prices, official figures released Friday showing that inflation remains contained in a context of stagnating domestic demand. The index of consumer prices adjusted for seasonal variations show a decrease of 0.1%. Economists and analysts polled by Reuters had expected a price stability after a decline of 0.2% in May
The morale of U.S. households has deteriorated in July fell to its lowest level in 11 months because of fears about the economy, according to preliminary results from the monthly survey Thomson Reuters-University of Michigan.The index of consumer sentiment stood at 66.5 against 76 in June and 74.5 expected by economists to Reuters. The index measuring consumers' judgments on the current economic situation has emerged to 75.5, its lowest level since November 2009, against 84 expected and 85.6 last month.
The banking and automobiles in the spotlight
After the adoption Thursday of the reform on Wall Street and encouraging results from JP Morgan, the bank is well oriented on Friday: Societe Generale rose 0.49% to 38.02 euros and Credit Agricole was up 0.58 % to 9.34 dollars and BNP Paribas gained 0.62% to 49 euros.
The car values also outperform the CAC 40.They benefit from the announcement of Renault, with its Japanese partner Nissan will invest 300 million euros in the construction of a plant of Russian automaker Avtovaz order to produce together a small car from 2012, reported the Nikkei business daily. The Renault share gains 1.80% to 35.06 euros, bringing in its train rival Peugeot, which climbs as 2.26% to 24.24 euros payday loan lenders.
On a visit to Tokyo, Prime Minister Francois Fillon said France was "open" to the entry of Japanese conglomerate Mitsubishi Heavy Industries in the capital of the nuclear group Areva (-1.67% to 335.15 euros) .
Carrefour (-0.16% to 35.28 euros) published a quarterly revenue slightly exceeded expectations thanks to its positions in emerging countries and announced the signing of a new partnership in China.Over the period April to June, the group saw its turnover totaling 24.92 billion euros, up 6.3% over one year.
Seb (-0.10% to 58.5 euros) has announced an increase in sales in the first half due mainly to a favorable currency impact and good dynamic emerging countries. Its turnover grew by 13.1% at current exchange rates and 9.4% at constant exchange rates.
Lafarge (+0.33% at 41.31 euros) concluded Friday the sale of 11.2% of its business in Malaysia for a net total of 141 million euros in the divestment program initiated by the World number one cement.Following this, the group will remain the principal shareholder of LMCB with a 51% and will retain management of the business.
Axa to discuss its Asian subsidiary
Axa Asia Pacific (AAP) and its parent, Axa (1.35% to 13.55 euros), and National Australia Bank (NAB) to discuss extending the period of exclusive negotiations between the two parties. NAB hopes to acquire 100% of PAA and has proposed that $ 11.5 billion (9.13 billion euros).The Australian Competition Authority has so far opposed the transaction.
Pierre & Vacances (-3.45% to 53.7 euros) has warned that tourist bookings for the fourth quarter was marked by delay on the month of July, in the context of crisis, after essentially flat sales in the third quarter .
Stallergenes (3.83% to 57.10 euros) Thursday revised its annual targets upwards, after posting a 14% increase in turnover in the second quarter, owing mainly to increasing sales of its blockbuster drug the Oralair. Specializing in the treatment of allergies, has achieved a turnover of 47.3 million euros in the quarter and $ 110.6 million over the period (13%).
One publication of turnover is expected this Friday: Etam Development.
Optimism in the sky world. A few days before the opening of the Farnborough Airshow in the United Kingdom, Boeing set the tone. The American manufacturer has announced on Thursday it had revised upwards its forecast of orders for new aircraft by 2029.
In a report released in London, Boeing presented its annual outlook 2010. "The global market is in much better shape than last year, but challenges remain," said Randy Tinseth, vice president for marketing at Boeing Commercial Airplanes, the branch's civil aviation manufacturer.Capitalizing on global growth than expected, Boeing expects that "the air traffic registered an increase this year, both for passengers and freight," said Randy Tinseth.
In the long term, Boeing said a total of 30.900 anticipate orders to the horizon 2029, a figure up 6.5% compared to the forecast of 29,000 made last year. These new orders represent a total 3.6 trillion dollars (2.788 trillion euros). For Boeing, the demand will be sustained in particular by increasing the number of LCCs and Acceleration replacement by airlines for their aircraft models écononomes fuel. And of course, by the "economic recovery".
A recovery that will boost air traffic.According to Boeing, the world air traffic will increase by 5.3% per year by 2029, with the number of passengers carried increased 4.2% per year over this period.
The most prominent aisle
To meet this demand, Boeing is betting on the single-aisle aircraft segment, which will benefit from the appetite of companies to lower costs. This type of aircraft has become the face of long-haul for a decade, says the U.S. group's report. "The airlines will choose to offer more flights using aircraft with more efficient (in terms of fuel consumption, Ed), rather than managing fleets of aircraft much larger," says Boeing. Consequently, the market for large aircraft (type 747 and beyond, namely the Airbus A380's competitor) will account for only 720 units, totaling 220 billion dollars.
Finally, over the next two decades, Boeing sees the Asia-Pacific than in North America as the first global airline market. According to the manufacturer's calculations, the Asia-Pacific will account for 43% of global air traffic by 2029.
To further extend the Dreamliner?
In this horizon rather than a black cloud emerged, however: the delivery of first Boeing Dreamliner could be postponed until early next year while the U.S. aircraft maker said earlier this month that it would intervene in the fourth quarter 2010. If ever the first delivery was a new delayed, the delay from the original schedule – May 2008 – would exceed two and a half years.
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