New tough session in Paris. Shortly after the beginning of the speech of Ben Bernanke, the Cac 40 was unscrewed from 3045 to 3015 points in minutes. On Wall Street, the indices are also grim: the Dow Jones was down 1.3%
Earlier, the index feature of the Paris market was disappointing not welcome the publication of the second estimate of U.S. GDP in the second quarter.
Second-quarter U.S. gross domestic product grew by 1% annual rate over the previous three months, said the Commerce Department, revising and down 0.3 points his first growth estimate published in late spring July.Analysts had forecast a less pronounced rate revision, to 1.1%, according to their median forecast.
Indices am the London Stock Exchange, the FTSE-100 lost 1.37% to 5064.08 points while the Dax-30 from the Frankfurt Stock Exchange, after opening steady, hollow losses (-2.96%) to 5419.09 points.
Fed pushes to place an ad in September
Highly anticipated speech of the President of the U.S. central bank, Ben Bernanke does not reassure investors. In fact, Ben Bernanke has pushed the September announcement of concrete measures to support the U.S. economy. The central bank is expected to meet more fully next month, he indicated, to "discuss more fully" in the policy.
Ben Bernanke also called on U.S. lawmakers to take fiscal stimulus, saying they have more flexibility than the institution.
In this uncertain environment expected on ads across the Atlantic, the euro resumed slightly against the dollar Friday in a market without much volume. To 11 hours in Paris, the European currency was worth 1.4440 dollars against 1.4378 dollars on Thursday night.
In the euro area, the few new major macroeconomic n.This morning, the companies manufacturing have revised their forecasts down slightly investment for this year and expect a 14% increase (against 15% previously).
The bank's head Cac 40, Peugeot sinks
Essilor International: -0.26% to 52.99 euros
Essilor International in the first semester a turnover of 2.06 billion euros, up 6.9%, the band announced via a press release issued in the edition of Les Echos to appear Friday.
Financials
The ban on short selling financial stocks on Thursday was extended to France, like Italy, Spain and Belgium, and the Financial Markets Authority (AMF) said it would review its position by late September.
This decision only briefly managed to reassure investors.If this decision technique to limit selling pressure on the sector, it does not address the fears that persist on European banks and their exposure to countries in need. After posting the largest gains of the Paris stock in early trading, financial stocks are once again very attacked: Societe Generale lost 2.5% to 21.4 euros, BNP Paribas was down 2.8% at 33, 4 euros, Credit Agricole down 6.4% to 2.04 euros while Natixis closed the show the worst performance (-3.31% to 2.72 euros).
In an interview with Le Figaro, the executive director of Credit Agricole said the group has "significant cash reserves" and "not difficult to obtain financing."
Conversely, other cyclical stocks, car manufacturers, will gradually take after opening the largest declines in the Paris stock exchange.Peugeot, which bought between 12 and 22 August last, about 2% of its capital amounting to 92,010,000 euros, retreated 2.03% to 19.01 euros. Renault leaves him 0.94% to 25.95 euros.
Total: -1.62% to 32.21 euros
Total expected to present a reorganization in the fall of scale of its operations downstream, with a planned merger of its refining and petrochemicals, according to Les Echos, citing union sources.
As for oil, prices were mixed Friday morning during electronic trading in Asia, in a sluggish market, before the highly anticipated speech of the head of the U.S. central bank (Fed).In morning trading, a barrel of "light sweet crude" for delivery in October gave 10 cents to 85.20 dollars per barrel of Brent North Sea crude for October delivery took 19 cents to 110.81 dollars.
Note that APRR and Bel Cheese (1.24%, to 163 euros) will publish their interim results after market close.