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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 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.

The U.S. stock markets started Wednesday's session in hesitation, but soon found the beautiful colors at the beginning of the meeting, brought by investors reassured by better earnings prospects in the banking sector. An enthusiasm that was accentuated throughout the meeting: at the close, the Dow Jones climbed 2.82% to 10,018 points (best performance since May 27), again surpassing the psychological barrier of 10,000 points for the first time since June 28, the S & P flies from 3.13% to 1060 points and the Nasdaq similarly 3.1% to 2159 points.

State Street Bank (9.9% to U.S. $ 36.64) outperformed all other banks, which also have very good performances, like Bank of New York Mellon (6.35%), Northern Trust Corp. (+ 6.92%), JP Morgan (4.95%), BoA (4.55 %)…

On the foreign exchange market, the euro remained stable against the dollar.It was trading at 1.2628 dollar. The day before, the euro had increased after the publication of an improvement less-than-expected activity in the services sector in the United States, highlighted by the index of purchasing managers published by IMS .

After the disappointment of Friday on the employment figures, investors should be particularly careful this week to weekly figures for unemployment benefits that are to be published Thursday.

At the dawn of interim results

On Wall Street as on most other major world places, operators should play the card of caution this week before the opening of the interim results season.

Today, the discount retailer Family Dollar Stores (-8.14% 36.23 dollar) has released disappointing interim results. This is the only company in the S & P 500 to publish its results this week.Within the Dow, the ball begins, as always, with results from Alcoa (3.23% to 10.54 dollars) July 12, next Monday.

Always on the side of values, Google (3.24% to 450.2 U.S. dollars) said Wednesday that it still awaiting a decision on renewing its operating license in China, needed to operate the largest Internet market in the world, said a spokesman for the American company and a Chinese official.

The CAC 40 may play yoyo Monday. After booting up from 0.43% to 3362 points, the key index in Paris fell back into the red within an hour after the start of the session: -0.19% at 3342 points

Elsewhere in Europe, even the Footsie in London returns to equilibrium (-0.05% to 4835 points) after starting the day up 0.45%. The German Dax, which climbed 0.34% at the opening, back up 0.08% at 5839 points.

The caution at the beginning of the week, as in Asia. On Friday, the CAC 40 finished on a small increase of 0.25% after a volatile trading. All investors anxiously awaiting the monthly figures for U.S. employment, which were more troubling than expected 125,000 jobs lost in June but 83,000 in private creations against 33,000 in May, and unemployment fell to 9.5%.The U.S. markets have fallen back slightly after the announcement, but their European counterparts have remained on the upside.

The CAC 40 lost 5%, however the last five days. Investors can not follow Wall Street Monday as the U.S. stock market is closed after the national holiday. On the side indicators in France, the PMI services will be published. For the euro zone composite PMI index, and the sales details will also be announced.

The banking supervision

Dexia (0.61% to 2.81 euros) received the assumptions of Stress tests requested by the European Union on the eve of the weekend and is currently being examined, according to chief executive of French bank Belgian-Pierre Mariani.

BNP Paribas (0.70% to 44.51 euros) has sold its subsidiary of consumer credit BNP Paribas Personal Finance Belgium funds Apax Partners SA and Altamir Amboise. The sale is part of the commitments made by BNP Paribas to the European Commission following the acquisition of Fortis in Belgium in 2009.

Zodiac Aerospace (+0.48% at 37.67 euros) has agreed to buy German Sell.It is the third acquisition transaction in two months for the group led by Olivier Zarrouati.

Carrefour (1.23% to 32.53 euros) will close unprofitable stores sixteen in Belgium at the end of the month as part of the restructuring of its assets in the country, while strengthening its partnership with Mestdagh. The group expects these closures savings of about 25 million euros per year.

Air France KLM (0.64% at 9.66 euros) will face a new competitor on the field connections to Africa. The Airline Oxygen Africa should get the green light for launch in the coming weeks.

France Telecom (0.28% to 14.24 euros) must submit to the press, about 11 o'clock this morning, its strategic plan for the next five years.He wants to have more than 300 million customers worldwide by 2015 against about 200 million today, "said Stéphane Richard, CEO of telecoms group, in an interview published in Le Parisien on Monday.

Total (0.01% to 36.19 euros) does not study the acquisition of BP, but would be willing to consider the acquisition of certain assets if they were on sale, said Friday the CEO Christophe de Margerie.

PSA Peugeot Citroen (0.84% to 21.05 euros) announced it acquired for an amount of 244,925,000 euros, part of the bond issued in 2001 and maturing in September 2011. The takeover was launched June 21, 2010 simultaneously launching the bond issue of 500 million euros due five years.

In the wake of Wall Street and especially the severe downturn in Asian indices this morning, the Paris Bourse is scheduled to begin the session in negative territory, a significant decline of 1.64% by the indices "future" of 8:15. Yesterday, Wall Street indexes ended the session closest to their equilibrium level, the wait was put before the publication of the ISM index, the employment figures and results for the second quarter. Volumes were particularly weak as well.

In Asia, markets are more active, but the trend is downward path including a decline of nearly 1.5% for the Nikkei, shortly before the closing. Nippon index is penalized by a round of disappointing indicators released in Japan early this morning. The strong yen also affects Asian indices.

Moreover, the euro fell back this morning against the dollar and 1.2258 dollar deals to 8:00.In terms of indicators, the INSEE published this morning at 8:45, the survey of consumer confidence survey for the month of June And in the euro zone economic confidence in the month of June will be unveiled at 11:00. On the other side of the Atlantic, housing prices will be released 15 hours, Paris time and consumer confidence in 14 hours.

EDF and Total in Christian Estrosi

As for companies, investors will pay close attention this morning to headlines EDF and Total. Indeed, leaders of the two heavyweights of the Paris stock exchange will be received this morning by the Industry Minister Christian Estrosi to discuss the future site of Dunkirk No faxing payday loans.

Still in the CAC 40, the general meeting of the Accor group's disintegration should also be well attended.

The eyes will also towards the group's title parapetrolic Technip. The latter will pay 338 million dollars (275 million euros) to settle a dispute with U.S. authorities on suspicion of having bribed Nigerian officials to win contracts in Nigeria, said Monday the Justice Department.

Moreover, as Saint-Gobain might react after the announcement of the sale of his division advanced to the American Ceramics CoorsTek for 245 million dollars (199 million euros).

In addition, Suez Environment has launched a bid on Aigües of Sabadell, a Catalan company of water treatment.

Finally, Etam, a specialist in ready-to-be bought a little over one quarter of its capital amounting to 99.2 million euros. The operation follows a major shift in strategy and a plan of reorganization."It's time to provide liquidity to our shareholders who do not want us in this strategy," says management. This title will buy "no significant impact on the control of the company," says Etam.

No change in the short term. But the door remains ajar for two more months. Nicolas Sarkozy held a meeting this FRIDAY on pension reform in the presence of several ministers: Baroin (Budget), Georges Tron (Public Service) and Eric Woerth (Labour). Following this meeting, the President of the Republic has decided to send as is the bill (see the text in its entirety) to the Councils for review. No editing for now, is therefore proposed for this text which provides a gradual increase in the age of retirement until age 62 in 2018.

However, the executive says ready to developments on three issues dear to the CFDT: the situation of people who started working before age 18, taking into account the hardship and treatment of poly-pensioners (of persons covered by several pension plans) low fee payday advance. The special case of poly-pensioners had hitherto not been mentioned in the text of the reform presented Wednesday.

Nicolas Sarkozy has asked Eric Woerth offer him "at the latest before the start of parliamentary debate in September, possible developments on these topics.

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Rakuten weaves its web internationally. After the acquisition last month of the American Buy.com for $ 250 million and the creation of a joint venture with PT Global Mediacom in Indonesia, the leading Japanese e-commerce has announced Thursday it had acquired all of PriceMinister capital for 200 million euros.

The Japanese offered as a place of choice in a market where e-commerce still has the wind in its sails. Online sales have jumped 30% in France in the first quarter of 2010 compared to the same period of 2009, according to figures from the Federation of e-commerce and distance selling (Fevad).

"This acquisition is a significant step towards achieving our goal of creating a global platform on which consumers can shop, whatever their country of origin," said the Japanese group said in a statement.

International ambitions

If Rakuten has big, PriceMinister take this announcement to reaffirm its own ambitions. "While PriceMinister happened since March on the top step of the podium in terms of audience e-commerce in France, we sought to further influence our development," explains Pierre Kosciusko-Morizet, cofounder and CEO of the group, in a statement released Thursday.

The French site, which boasted 11 million members and an offer of nearly 150 million products in March 2010, specifies that the transaction was carried out by the group's European subsidiary, Rakuten Europe. The founders of PriceMinister (Pierre Kosciusko-Morizet, Pierre Krings, Justin Ziegler and Olivier Mathiot) "have a commitment for a minimum of five years to support the development of the brand in France and Europe. A period during which the staff of the group should remain in place.

"Rakuten has experience and expertise unmatched in the field of Internet commerce," says Pierre Kosciusko-Morizet. "By combining our respective strengths, PriceMinister will be able to accelerate its growth in France and Europe." If it is already present in Spain and England, and has successfully diversified its business expanding into areas of real estate , email marketing and online travel, the French group is a featherweight against its Japanese rival.

PriceMinister sold well

Rakuten has nearly 64 million members to date and posted sales worth 3.2 billion dollars (2.5 billion euros) in 2009, the group said. In its statement, the Japanese lifted the veil on the financial results of PriceMinister, a secret that the French site had always managed to keep.

Thus, according to Rakuten, PriceMinister recorded a turnover of 39.9 million euros in 2009 against 38.1 million in 2008 (including sales of the subsidiary car-Mixad 321Auto sold in March 2009). The site has also experienced a slight net loss of 105,000 euros last year. In 2008, this loss had reached 9.4 billion euros. Sold for 200 million euros, five times its revenue, PriceMinister has at least made a good deal.

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LE FIGARO. – Activation Plan aid to Greece Will there be enough to reassure the markets?

BART VAN ARK. – Nothing is less certain. If using the rescue plan EU-IMF had become inevitable due to the rates imposed by markets, one plan will not help. It will take others. Because Greece can not simply put in order its public finances. She will have to undertake structural reforms, which, by definition, are long and painful. It must focus on its productivity, decreased significantly, and quickly find a way to create jobs.

Before release the money, should there be a new dose of austerity in Greece?

To have a chance to be swallowed, the pill should not be too bitter. If you cut too much spending, it will exacerbate the risk of recession.At the same time, Greece has to reassure the markets over the medium and long term, by engaging in a meaningful and specific reforms. It is not shocking to ask Greece for new safeguards.

The risk of contagion to other European countries there in recent days?

I do not think. Markets are well sorted. Portugal and Spain are in very different situations of Greece. Although Portugal has a similar financial problem and a serious deficit of structural reforms, the situation is less dramatic than that of Greece now payday loan. As for Spain, much larger economy, it began structural reforms, and its banking sector is stronger.

The cohesion of the euro area is at risk?

I do not think so.The eurozone saw, for sure, his first financial and economic crisis. But this is not the end of the Euro! This crisis, which I find exciting force, in contrast, Euroland more economic integration. Europe must urgently address this need for economic integration. There is no other way. The hypothesis of a breakdown of the euro area is not realistic to my eyes.

More integration, it means there a belt tightening for everybody?

In the short term it seems inevitable. Public deficits rise between 5% and 10% of GDP. They strike even the most virtuous countries such as Germany, which will perhaps five years to return to fiscal sanity. The euro area has become credible.In the medium term, more integration, it means more responsibility for each other in their economic policy.

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The defeat of the right in regional elections on Sunday worried some economists. "The political situation, with a government clearly weakened, is not conducive to the development of structural reforms painful" but necessary to reduce debt, said Gilles Moec, economist at Deutsche Bank in a note. But "in the current environment, the political uncertainties could traduirent by the rising cost of debt financing. Clearly, higher interest rates.

The France is among the three countries in the euro area with Italy and Germany, which show that in 2010 the budget as balanced. Official projections, also considered optimistic by the European Commission, expect a budget deficit of 8.2% of GDP.And for the moment, Paris' delay in entering the field of discipline, "the report said the economist at Deutsche Bank.

Pension reform

To reduce the deficit, the French government will continue not to replace a staff of two and intends to tackle the pension system. "We believe that the pension reform will result, economists said the German bank. "Public opinion has changed on this subject in recent years" for an overhaul of the system.

Certainly, the defeat of the regional majority does not challenge these policies. But more is required to reduce deficits. "Reforming the pension system and reducing the number of staff may be insufficient, while the government refuses to raise taxes, except in very specific cases of tax loopholes," lamented Gilles Moec.

Still, "the government had never officially announced policy of rigor before the regional elections," said Eric Heyer, deputy director of the Office of the French Economic Conditions (OFCE). "In fact, most of the effort requires a strong control of public spending."

After defeating regional, the next election, the presidential election in 2012 will dampen she also wishes to reduce the deficit? "It is not clear," says Gilles Moec. "The question on debt and deficits has become a major concern of French. It could be paying politically difficult to pursue a policy of austerity at a time complicated. "

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Like the Paris markets, U.S. stock markets opened in green on Friday, supported by the employment figures less bad than expected. The United States has in fact lost 36,000 jobs in February than in January and the unemployment rate the country has remained stable at 9.7% this month, according to the official report on employment released on Friday, while analysts expected a decline. The Dow Jones advance of 0.36% at 10,482 points, the S & P 500 rose 0.46% to 1128 points and the Nasdaq's 0.46% to 2303 points.

U.S. investors are reassured by the Prime Minister's announcement that China has promised a 8% growth for China this year.Thursday, Wall Street closed higher on a comfortable, supported by bearings recommendations.

In addition to the employment figures U.S., those of consumer credit in January, will be published in 21 hours.

As for currencies, the euro fell sharply Friday against a dollar backed by the release of employment figures in the United States, and reassuring the operators on the strength of the recovery of the world's largest economy now payday loans