World and National News

This Friday looks bleak at the Paris Bourse. Operators should be difficult to recover from their emotions after the new European stock markets plummeting and U.S. yesterday. This morning, Asian stock market sent negative signals with indices in very sharp drop.

This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic. Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks. And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed. An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight.And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U fast cash online.S. economy was "resilient". In vain.

"The bears are back"

"The bears (stakeholders pessimistic note) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia. "There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading.A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks again Thursday unscrewed rolled by renewed tensions in the interbank market and concerns about the short-term refinancing of banks.

Danone

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

The transport budget should lighten motorists this week. While the oil price was down since the beginning of August because of fears for global growth, the Minister Eric Besson industry asked Wednesday to distribution professionals to pass on this trend prices at the pump before the weekend of August 15, traditionally busy on the road. "The French will benefit from several cents lower per liter," ruled the Minister in a statement.

Concerns about debt deemed excessive in the euro area and especially the deterioration of the U.S. debt rating by the rating agency Standard & Poor's have indeed been falling sharply since oil prices last week. Wednesday, a barrel of Brent North Sea still traded at around $ 105 a barrel."Oil has fallen by about $ 10 a barrel for about eight days, conceded earlier this week Jean-Louis Schilansky, president of the French Union of Petroleum Industries (Ufip). Under these conditions, unless crude goes up, there are four to five cents a liter, which is expected to decline "

The magnitude and the time needed to complete the impact of this decline, however, are subject to different interpretations. While Ufip evokes a fall in prices "gradually over the next ten to twelve days," the general delegate of the Union of independent petroleum importers, which includes stations such as Carrefour, Auchan and Casino, for its expected "down from 10 to 15 cents" for these stations retail, "before the end of the week."

The price of a liter of diesel, the fuel most consumed medium currency is 1.335 euros per liter last week, according to the Ministry of Sustainable Development, 1.337 against the euro last week of July.

In Britain, in case of riots, police paying the damages. This is recalled Stuart White, of law firm Reynolds Porter Chamberlain: a law, which has 125 years, in fact, makes the police responsible for damage caused to property during riots, as "fail" in its duty of maintaining order and respect for the law.

In other words, the State will get their hands in their pockets to pay a portion of the bill due to clashes that affect London and other major British cities since Saturday evening. According to the Association of British Insurers (ABI), the invoice amount to several "tens of millions of pounds."Right in the austerity, the new grave evil historic budget cuts designed to reduce the deficit of Britain were launched last June.

However, some police forces insure themselves against damage due to riots. Is considered a "riot" any gathering of more than 12 people gathered "loudly" and whose behavior would any reasonable person to fear injury to his security.

And insurers do they expect to have to deal with a lot of complaints, while shops were burned, vandalized and looted. "It is too early to have a clear idea of ​​the total cost, especially the cost of closing the shops, but insurers are working hard to deal with complaints that reach," said Nick Starling, head of insurance and the health of the ABI, in a statement.Many insurers offer "hotlines" 24/24 and the British are expected to contact their insurance as soon as possible, explaining that for the shop owners, insurance policies often include coverage for losses related to the closure their business or property damage.

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While European stock markets, starting with Paris, still closed on Friday decreases, Baroin called to remain calm. The Minister of Economy, which had cut short his vacation to "take stock with his teams," according to the Elysée, stressed the need to "keep a cool head and not make a tracing paper of the excitement that can be observed on a given market. "

Invited to France Info, just after the close of the Paris Bourse, which for the first time ever signed a tenth meeting of consecutive decline, including the minister explained that "the questions posed from a double question mark: the character of the strong global economic growth and the important issue in Europe and worldwide of this problem of public debt. "

On this last point, Baroin said that "the determination of the 17 heads of state of the euro area should not doubt the investors." And remember, in reference to the plan of aid to Greece reached July 21, that "in Europe, there was an agreement by the Heads of State very important because it offered answers. These responses must be heard by the markets. "

Latency

The Minister of Economy, however, admitted that there was "a latency reduction" between the announcement of the plan, which is "a good plan," and its practical implementation. It must indeed be ratified by national parliaments. In this regard, Baroin was keen to dispel doubts about the possibility of rejection by the German parliamentarians. "The plan will be voted on July 21. There is no other way to protect our currency which is the common good of the countries in the region, "said he.But "time is not the Democratic one click of a market operator," he said.

In order to "restore investor confidence," Baroin also ensures that "we must strengthen the governance of the euro area to make it optimal."

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"SPECIAL – Europe, States facing bankruptcy

Wall Street hesitates. As in Europe, investors do not seem entirely convinced by the agreement reached in the night between Democrats and Republicans on the debt. Hours to 4:15 p.m., the Dow drops 0.57% to 12,072 points, the Nasdaq lost 0.43% to 2744 points and the S & P loose 0.57% to 1285 points.

It is in extremis, on the night of Sunday, which is reached an agreement on raising the ceiling of U.S. debt, after a speech critical of President Barack Obama. Two days before the deadline set by the U.S. Treasury, the stakes were high: without this increase, at least 2.1 trillion dollars, the United States, on the edge of default, could sow the wind panic on financial markets.

Barack Obama has managed to generate compelling reconciliation of Democrats and Republicans on this agreement, investors now hope to see a bill passed in the coming days. But that will depend on the Congress which has yet to give the green light, no later than Tuesday night. Similarly, no one knows how to react, however, the rating agencies. Despite the compromise finally reached on the debt, the loss by the U.S., their AAA rating is not excluded and would have severe repercussions on the economy and markets.

After selling more than 4% last week, which will remain the worst of the year, the Dow had yet started the day up 1.10% at 12,277 points.Standard & Poor's 500 and Nasdaq 100 progressed to their respective share of 0.86% to 1303 points and 2785 points to 1.05%.

The manufacturing sector to the death

At the macroeconomic agenda, a bad surprise helped to fill the atmosphere: the growth in manufacturing in the United States slowed in July against all expectations, according to the purchasing managers' index released Monday by the Institute for Supply Management (ISM), which fell to its lowest level in two years. The index of manufacturing activity of this organization stood at 50.9 last month, its lowest level since July 2009, against 55.3 in June. The market economists polled by Reuters on average expected 54.9.

Construction spending in the U.S. have also increased by 0.2% in June, according to figures from the U.S. Department of Commerce published Monday.These expenditures reached 772.3 billion dollars, while analysts polled by Reuters had forecast a rate unchanged no credit check payday loans.

This week, analysts said Aurel BGC, "investors will focus on indicators confirming whether a rebound in growth. In view of the latest indicators movement is far from certain. Auto sales (Tuesday) and retail sales side on Wall Street for the month of July will be eagerly awaited. This weekend, the employment figures will be released by the BLS.They will be very affected by the lay-off of 20,000 staff in the State of Minnesota. "

73% of companies did better than expected

The European steelmaker ArcelorMittal and U.S. mining company Peabody Energy (0.73% to 57.89 dollars) on Monday made a hostile bid on the Australian Macarthur about 4.7 billion Australian (about 3, 6 billion euros), after the failure of talks to reach an amicable agreement. The board of Australian mining group declined Monday to support the joint bid from ArcelorMittal and Peabody to 15.50 dollars per share.

The title of the American manufacturer Ford (2.54% to 12.52 dollars) could take 25% as the group reduced its debt, is launching new models and trying to expand in China and India where he remained late over its competitors, said Monday the magazine Barron's.

Shares of online retail Amazon.com (1.75% to 226.41 dollars), which is just below its record high, could earn 10% to 25% if the investment result rapid growth in its retail operations, cloud-computing and the Kindle reading light, said Monday the magazine Barron's.

The railway company of the UAE, Etihad Rail, said Monday it has ordered seven locomotives Electro-Motive Diesel, a subsidiary of U.S. manufacturer of construction equipment Caterpillar (2.36% to 101.13 dollars).

On the corporate side, after Merck (+0.03% to 34.10 dollars) and Chevron (1.57% to 105.67 dollars), which published its quarterly results Friday, the ball of publications in the U.S. coming to an end.Nearly 65% ​​of companies have indeed published their findings in the U.S. and 73% reported earnings above expectations.

Among the publications planned the first week of August, include those closely watched CBS, Cephalon, and Pfizer (Tuesday). Will be followed by Comcast, Time Warner and Mastercard (Wednesday). Then, Kraft Foods (Thursday), Procter & Gamble and Viacom (Friday).

The CAC 40 has taken a few colors on Tuesday after his fall the previous day. The benchmark index in Paris closed with a gain of 1.21% but stumbling on the threshold of 3700 points to 3694.95 points. Monday he fell Monday to its lowest level this year with a closing down 2.04%. Same movement elsewhere in Europe: in London the FTSE-100 of the main values ​​gained 0.65% to 5789.99 points. For its part, the DAX index of the Frankfurt Stock Exchange climbed 1.11% to 7192.67 points.

Caution remains in order. Investors have not been convinced by the results of stress tests in Europe. They are now waiting for the meeting of Heads of States of the euro zone on Thursday to take stock of sovereign debt problems plaguing Europe. Greece and its possible non-payment should animate all discussions.This morning, Ewald Nowotny, a member of the Governing Council of the ECB, explained that some of the options for resolving the debt crisis involve a brief Greek "selective default" without serious adverse effects.

In addition to that date European markets monitor the evolution of the debate on debt in the U.S.. The Americans are unable either to agree on raising the debt ceiling of the United States, despite calls for unity of President Barack Obama. In this context, the New York Stock Exchange was also closed down yesterday.Asian markets this morning did not give either positive signs.

On Tuesday, investors watched barometer of confidence Zew, the primary measure of the expectations of German financial circles, which again dropped sharply in July, reaching -15.1 points against 9 points in June, according to the Institute of the same name. This is the lowest level since January 2009.

On the currency side, the euro is trying to take against the dollar. Around 11:00 in Paris, the single European currency was worth 1.4204 dollars against 1.4117 dollars late Monday. Oil climbs as well, investors taking advantage of prices driven down by concerns about the debt crisis in the euro area.In morning trading, a barrel of "light sweet crude" for delivery in August took 38 cents to 96.31 dollars and that of Brent North Sea crude for September delivery took 41 cents to 116.46 dollars.

As for values ​​to follow

Purchases cheaply in the banking sector

The banks of the colors found on Tuesday. Investors benefit from the fall of the last day to make purchases with it.Societe Generale (4.39% to 34.24 euros), BNP Paribas (2.91% to 44.90 euros), Credit Agricole (3.11% to 8.42 euros), Natixis (3.31 % to 3.08 euros) and Axa (1.98% to 13.14 euros) are in green.

The Financial Stability Board (FSB) will propose a capital surcharge from 1% to 2.5% for systemic banks ("Sifi") on Monday said Mario Draghi, the chairman of the Board and Governor of the Bank of Italy at a press conference stating that only the common shares will be considered for this overload.Moreover, the euro area has confirmed consider introducing a tax on banks to help Greece.

The technology sector, buoyed by the results of IBM across the Atlantic is also formatted with Alcatel Lucent (5.85% to 3.62 euros, the largest increase CAC 40) and Cap Gemini (3.79% at 37 , 66 euros).

Ubisoft: 8.84% to 5.91 euros

Ubisoft's action is supported by purchases on the cheap after the fall of 15.27% charged the day before because of concerns about profitability. "The title took a slap yesterday why it bounces so strongly, especially as the market trend today is rather a carrier," said a stock dealer based in Paris.

Hermes: + 0.43% to 221.70 euros

The group reported a turnover of 668.4 million euros in the second quarter, up 17.9%.It said it expects a sales growth of 12% to 14% on a constant throughout the year. Its 2011 operating margin should be close to the record of 2010.

Orpéa: + 2.38% to 33.78 euros

The group said Tuesday it raised its target for 2011 sales of 20 million euros to aim now 1.23 billion euros.Turnover was 594.2 million euros in the first half of 2011.

EDF: + 0.62% to 25.99 euros

The president of A2A said it would reopen talks with his French counterpart in the EDF file the reorganization of the Italian Edison.

Edenred: + 3.18% to 21.60 euros

The group announced an increase in its issue volume in the second quarter thanks to its strength in Latin America and improve its performance in Europe, linked to early signs of stabilization of activity in Central Europe.

Air France: + 1.62% to 9.17 euros

The seven unions of hostesses and stewards of the airline announced the filing of a notice of strike from July 29 to August 1 to demand the opening of negotiations on the organization of work.

Note that the share price Anovo was suspended by NYSE Euronext at the request of the group "until further notice."

After market, Accor and Manitou publish their turnover for the second quarter. Biomerieux and Land Walls will report their results over the same period.

Leo Kirch, one of the biggest media moguls German, died Thursday in Munich at the age of 84. For fifty years, this son of a humble winemaker Bavaria built a sprawling group that, until his resounding failure in 2002, has continued to shake Europe's media. Even in May, this devout Catholic, who had kept the headquarters of his last activities – Constantin Medien AG and its management company KF15 – a few blocks from the cathedral of Munich, made headlines in the trial as opposed to the Deutsche Bank. Known for his fighting spirit is in a wheelchair he made his last public appearance to claim to the bank 3.5 billion euros in damages.He accuses its former CEO, Rolf Breuer, have precipitated the collapse of his empire in 2002.

An empire in its heyday had 10,000 employees and was a pioneer in the trading of sports and cinema rights and the emergence of pay TV in Europe. In acquiring the rights to credit La Strada, Federico Fellini, Leo Kirch has the intuition, in 1959, the contents will be the black gold of the emerging market of media. Rounding up the rights of the American box office and what is the best in Europe in terms of cinema, the man finds himself at the head of a catalog of 64,000 hours of programming which ensures a quasi-monopoly marketing rights in Germany and a prominent place in Europe.

With this heart of business housed in the structure of Kirch Media, Leo Kirch between the mid-1980s, capital of Axel Springer which will hold up to 40%.A raid that the group in Berlin will not forgive him.

Football rights

At the same time, he founded the group of private channels Sat 1. The latter will become the group ProSiebenSat 1 in 1997, when the IPO of the empire. For he that was nicknamed the "Ogre Bavarian 'needs funds to achieve its second major gamble: the control of sports rights in Europe. In Focus rights of German soccer but also those of the World Cup and in 2001, those of Formula 1. His critics accuse him of having, between 1998 and 2002, multiplied by the broadcasting rights … 40.

At the same time, Leo Kirch, nothing seems to stop, began by buying pay-TV Premiere, now in the lap of Rupert Murdoch. It must be said that this man secret, a great lover of art, is also a close to the government and a friend of Chancellor Helmut Kohl.For many conservatives, it is the counterweight of the "red" Reinhard Mohn, who heads the group Bertelsmann.

But in early 2002, the luck changes: first is a failure and the amount of the group's debt – 6.5 billion – the banks panicked whistle stoppages in play Legend has it that at the time of bankruptcy Leo Kirch has said: "What God gives God back." A good word that did not prevent him in 2007 to build three billion euros to recover the rights of the Bundesliga. While stopped by the office of the cartels, Leo Kirch, though ill, will continue to conduct its business. For as he liked to say "What matters is not to fall seven times but get up the eighth."

Endgame for the 182 employees of the chocolate Netcacao Marseille, all former Nestle. The company created to continue the production of chocolate on a site where the Swiss group had settled in 1952 was finally made Wednesday in liquidation by the Commercial Court of Marseille after much twists. Since the announcement of Nestle, in May 2004 of its intention to close the plant, which employed 425 people, employees have moved heaven and earth to keep their jobs.

Stormy relationship with Nestlé

By dint of strikes and lobbying, they managed to a solution emerges. Two industry professionals, alumni Barry Callebaut, with financial support from sugars and food, had taken up land, buildings and 180 people with a sub-contract of three years for the former owner. They had invested 19 million euros to boost business and diversify.But relations between Netcacao and Nestle have been stormy, and the contract subcontracting amputated. The time has failed to sustain their activity while the contracts were beginning to return. At the time of going into receivership on 17 February, the company achieved a turnover of 23 million euros in 2010, had a backlog of six months of work for most major brands mass distribution low interest rate personal loans. But she did not have the cash to buy cocoa beans and honors orders. A liability of 7.5 million has been accumulated.

"It's been five years that everyone wants us cassions FIG. Nestlé including who is still in dispute with former employees, "said Veronique bitter Théry, the former president.For the latter, "There are two culprits, the prosecutor who has rejected the proposed trust that would permit a proposed takeover and the Commercial Court which has been dragging the file, we condemned to a slow death." The latter points to real appetites, for assets it is estimated that between 15 and 25 million euros.

A group of buyers had yet expressed but did not convince the court. This group studied the opportunity yesterday to make an offer to purchase the assets and some staff. "Netcacao has an interesting but oversized industrial tool for industrial products. We must scale the business with fewer workers and more manufacturing to the consumer, "commented Philippe Masson yesterday, a member of the pool that one reason for the failure of Netcacao was stress take too many employees.

AREVA will be able to breathe. His former ally Siemens will pay him $ 648 million plus interest by a fortnight, following the breakdown of an agreement between the two groups. Chamber of Commerce (ICC) has in effect made public last night the penalty imposed by the German group for a case that began in March 2009.

Two years ago, Siemens has decided to withdraw from their joint venture Areva NP owned 34%, after failing to take a larger share. The German group did not then expected to reach an agreement with Areva output to form a new alliance with Russia's Rosatom nuclear.

Siemens has thus not met the terms of predetermined separation between the two groups. The French decided to launch an arbitration against Siemens, liable to a penalty of 40% of the value of the shareholding of Areva NP.

The ITC has agreed with Areva and Siemens believes that has broken the pact of shareholders. The German group scoop the maximum penalty, a penalty of 40% of the value of its stake in Areva NP. The 34% share capital of Siemens Areva NP was valued 1.6 billion euros in March, when Areva took over Siemens' share in Areva NP.

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The CAC 40 will reach there to string together a seventh consecutive month of meeting this Friday? Investors could be tempted to follow in the footsteps of Asian markets, Tokyo without (closed due to holiday) were very hesitant after the announcement of a U.S. growth slowed in the first quarter. In Paris as in Wall Street, many traders were yesterday conceded that the new had yet been burdened by other negative indicators.

For this last day of the week, risk-taking should be smaller. Especially since the day will be rich in events. The eyes of the markets will not (only) turned to the royal wedding of William and Kate in the UK, but towards the expected flurry of statistics.In France, it is the producer prices in March, Germany, and retail sales in the eurozone, the unemployment rate.

Then the United States, the festivities start with the incomes and household spending in February (14.30) and the Chicago PMI for April (15.45) and the index of consumer sentiment this month ( 3:55 p.m.).

Side currency, the euro remains strong against the dollar at 1.4847 dollar. Oil markets appear, they, down, worried about the state of the U.S. economy.A barrel of light sweet crude for June delivery lost 45 cents to 112.41 dollars and that of Brent North Sea also June delivery yielded 17 cents to 124.85 dollars.

Values ​​to follow

News companies should also serve markets:

Total

The tanker, which publishes its results, announced jeudila takeover of U.S. manufacturer SunPower solar panels with a view to creating the "world leader in solar energy."

GDF Suez

The group announced the launch of a new subsidiary trading on energy markets with the ambition to compete with industry heavyweights such as Barclays, Goldman Sachs, and E. ON EDF Trading

Legrand

The group announced the acquisition of SMS, a leading Brazilian electric inverters, in order to strengthen its position in a growing market.

Ingenico

The group denied on Thursday evening news reports that he would be interested in the activities of online payment from Hi Media.

Gifi

Ginestet family announced Thursday its intention to launch a simplified tender offer for the shares Gifi delist the distributor of first prizes.

Vinci confirms its objectives

Saint-Gobain

The group confirmed its 2011 targets after a first quarter marked by an acceleration of growth in its business thanks to the contribution of most geographic areas where it is present and better weather.

Vinci

The group also confirmed its full-year after a turnover up 25.4% in the first quarter, above market expectations, driven by acquisitions last year and its activities in the construction and energy.

Compagnie des Alpes

The group reported Thursday a turnover up 5.8% for its first semester of the 2010-2011 fiscal year to March after a winter characterized by early snowfall.

Crit

The group again expressed confidence Thursday for earnings growth in 2011 after having posted a revenue increase of nearly 22% in the first quarter.

Saft

The group confirmed on Thursday its forecast for revenue and earnings for 2011 after releasing first quarter sales up 11%.

Bull

The group confirmed Thursday that the goals the group has set medium term, after realizing the first-quarter sales were down 0.9% to 270.8 million euros.The group also said that orders had risen to 313.8 million euros in Q1.

Fimalac

The group reported Thursday after the closing sales up 21.1% to 341.5 million euros thanks to the rise of nearly 17% of revenue from its credit rating agency Fitch.

Renault will hold a meeting this Friday to 15 hours.

Belvedere will unveil its fourth quarter results, EDF Energies Nouvelles in sales the first quarter and Trigano its second quarter results.