Hesitation waltz at the Paris Bourse. After opening on a drop of 0.27% in the wake of the Asian markets, the benchmark index in Paris dropped more than 1% in the morning to return to equilibrium. But the opening of Wall Street in 1530, the CAC 40 has shifted downward, before digging even after two bad losses to U.S. figures, which brought down the U.S. indices. Around 4:12 p.m., the CAC 40 fell by 0.877% to 3733.38 points.
This morning, the losses have widened in the late morning after the publication of several macroeconomic statistics:
– In France, INSEE announced that French household consumption of manufactured goods had rebounded 2.7% in July and fell 1.6% in August.Economists were expecting an average growth of 0.6% in July and the consensus was +0.2% in August.
– Updates of new housing projects in France fell by 7.7% over one year for the period June-August 2010, while building permits rose 30%, said Tuesday the Department of Ecology.
– German consumer confidence in the economy, measured by the GfK barometer, reached its highest level in three years.The barometer set for the month of October reached 4.9 points, against 4.3 points for September (revised).
The afternoon was marked by the S & P / Case-Shiller house price in the U.S.: housing prices have declined in the United States in July, 0.1% from the previous month.
Then, 16 hours, the index of investor confidence and U.S. consumers in September fell more sharply than expected, according to the Conference Board index released Tuesday, which fell 4.7 points from July to $ 48.5.
As for currencies, the euro found strength against the U.S. dollar vert.Un euro is worth 1.3454 (+0.19%).
Michelin tumbles
But since this morning, the rating is primarily driven down by the Michelin red lantern ACC.The titles of the group let go of 10% to 58.71 euros after announcing a capital increase of EUR 1.2 billion to finance investments.
The title brings with it the entire automotive sector, including Peugeot (-2.38%) and Renault (-0.63%). 1.24% abandoned.
Ireland shook the banking
The banking and financial sector is also misguided Tuesday. BNP Paribas (-0.18%), Societe Generale (-0.48%), AXA (-0.35%) are abused.
Concerns have arisen with the estimate given by Standard & Poor's following which Ireland will inject 35 billion euros in Anglo Irish Bank. "The projections that were previously in sharp contrast to our estimate of 35 billion now appear to evolve more into line with such a cost of recapitalization," said Trevor Cullinan said Tuesday the channel RTE."The alternative plan of government for Anglo implies that we could even surpass the 35 billion, if that were the case, it may well be that Standard & Poor's conducts downgrades," he added.
Moody's Investors Service had already cut three notches Monday of the debt rating of Anglo Irish Bank and six notches the rating of the subordinated debt.
EADS is pessimistic
Technicolor (+4% to 4.23 euros) announced Monday the sale of the majority of its 50% stake in Screenvision U.S., specializing in advertising for the film, for $ 60 million (45 million euros ).
Eurocopter (EADS: -0.86% to 19.09 euros) yesterday unveiled a new range of helicopter, the X3.Lutz Bertling, head of the group, took advantage of a press conference to clarify that Germany had yet maintained its order for 80 Tiger helicopters contrary to rumors in the German media. They had recently assured that Germany would lower the number of Tiger ordered 60 and the number of NH90 military helicopters and 80 against 122 ordered. Pessimistic, Lutz Bertling said last night also that "2011 will be the toughest year of Eurocopter. Cancellations of orders decreased but the stimulus of government too. " However, he stated that 2011 would not be a year of losses."We believe that the first signs of recovery should be perceptible from the second quarter of 2011."
Aries (+12.5% to 7.11 euros) automotive supplier specializing in the production of aluminum parts, announced back in the green Monday night with a net profit in the first half of 5.1 million euros against a loss of 2 million euros a year earlier."The group anticipates continued growth in its turnover by 2013 and envisages a return to an activity level comparable to that recorded in 2007, close to 47,000 tons of foundry.
The board of directors of Bolloré (-0.06% to 160.50 euros) decided Monday night to distribute an interim dividend of two euros per share given the good results of the group in the first half of 2010.
Sanofi-Aventis (-0.04% to 49.9 euros) continued its policy of acquisitions by announcing an agreement on Monday to buy VaxDesign, a U.S. biotech that develops in vitro models of human immune system.
Gabon, come to the capital of the French group Eramet (+0.07% to 219 euros) has reaffirmed the country's president to visit Africa in Paris.
Trigano (-3.75% to 17.09 euros) estimates that the sales growth recorded this year should continue in 2011 thanks to the success of its new models.
As for publications, Neopost (+0.05%) on Tuesday unveiled its first half results.
Note that the title SeLoger.com was suspended from trading this Tuesday morning at the Paris Bourse at the request of the Autorité des marchés financiers (AMF). This suspension is related to official submission of the bid group Axel Springer, which should be imminent and probably intervene in the morning, said a trader. The stock closed Monday at 37.53 euros.
In addition, Alcatel-Lucent (3.25% to 2.57 euros) stays the course: the titles are the only change in the green.