ALSO READ:
The WTO wants to reform the world trade statistics
If you have the right amount of money and can lay out a budget that adequately reduces your personal expenses, you can either reduce the amount of your fast loan or drop it altogether.The CAC 40, which surpassed Monday night at the close of the bar 3750 points (2.99%), was given a break on Tuesday. At the close, the benchmark index of 0.12% in Paris coward 3747.51 points.
Same atmosphere in the rest of Europe. The London Stock Exchange finished steady, yielding 0.01% to 5396.48 points while the Dax index featuring the Frankfurt Stock Exchange finished up slightly from 0.25% to 6307.91 points.
The markets have benefited from this meeting to take profits. A trend that accelerated after the publication of U.S. statistics of the day. Consumer spending of U.S. households remained unchanged in June, up 0.1% against 0.2% previously announced. Economists had forecast an average increase of 0.1% of consumer spending in June Household income is also unchanged in June at 0.1%.Moreover, the promises of sale on the U.S. housing market suffered an unexpected drop in June The index of the federation of Realtors NAR is thus fell to a new record low 75.7. In one year, the show promises to sell a drop in June from 18.6%.
In addition, industrial orders fell 1.2% in June, while the market was expecting a decline of 0.5% only.
Meanwhile, the euro remains at its highest in three months against the dollar.The euro rose as optimism in Europe and at the same time, the dollar is falling while stock markets also rose overseas and the appetite for risk grows.
The eyes of Sanofi-Aventis Genzyme
Sanofi-Aventis (+0.18% at 45.49 euros) sent a letter referring to Genzyme's interest in the company, according to a source close to the deal, adding that the two companies were discussing the offer.
The chemicals group Arkema (8.83% to 38.07 euros, the biggest increase in score) on Tuesday said quarterly earnings improved sharply, saying it made "its best historical performance" since its IPO in 2006 . Quarterly profit was 119 million euros, against a loss of 114 million euros in the second quarter of 2009.Revenues soared 38% to 1.6 billion euros and the gross operating profit (EBITDA) reached 241 million, against only 70 million a year earlier.
CNP Assurances (-1.74% to 15.83 euros) announced Monday that it bought back 65% stake in MFPPrévoyance, a subsidiary of MFP Services, a group of specialized mutual insurance officials. This stake will cost 86.5 million euros to the French insurer.
Vallourec gives 1.08% to 76.37 euros, most over the CAC 40. Credit Suisse cut its rating to "neutral" to "underperform."
Arcelor Mittal has launched $ 2.5 billion of debt in three parts, according to IFR, a subsidiary of Thomson Reuters.
Yellow Pages lost -1.19% to 8.5 euro). HSBC cut its rating to "overweight" to "neutral."
General Health (0.91% to 11.59 euros).The former manager of French private clinics and hospitals on Monday published a half-year revenue declined 4.7% to 1 billion euros, which also reported an increase of 8.8% in profit operating income, to 80.4 million.
In an interview with Le Figaro, Benoît Potier, Chairman and CEO of Air Liquide (-0.78% to 88.63 euros), says that the big industries have restructured and fully benefit from the recovery.
APRR (Autoroutes Paris-Rhin-Rhone) has resumed trading on Tuesday after his suspension on Friday, following the submission of a proposed buyout offer from its major shareholder, French Eiffage and the Australian investment bank Macquarie .The securities rose 015% to 53.98 euros.
The transatlantic exchange group NYSE Euronext said Tuesday it recorded a second quarter net income of $ 184 million, against a loss a year earlier, largely due to derivatives markets. The title of the group reacted slightly to the Paris Bourse, clinching 0.73% to 22.62 euros in mid-session.
The results of Yahoo! may lead to confusion in the markets. The U.S. Internet portal said in a statement released after the close on Wall Street a group net profit up 51% year on year to 213.32 million dollars in the second quarter. Brought back in action, this equates to 15 cents per share against 10 cents a year earlier. This result was above expectations of analysts who had expected 14 cents. In contrast, sales will disappoint. It appears virtually unchanged (2%) to 1.601 billion dollars during the period against $ 1.57 billion last year. But it is better than the 1.16 billion expected.
Operating profit jumped to 175 million dollars against 76 million a year earlier. Without taking into account a restructuring charge of $ 10 million, the increase is 32% low fee pay day loans."We are pleased to have continued to generate strong operating earnings and a sharp increase in margins," said the CEO, Carol Bartz, in a statement.
Side perspective, the band announced for the third quarter revenue target of between 1.57 and 1.65 billion dollars. Yahoo also relies on an operating profit of between 160 and 200 million dollars.
The news did not seem to have pleased the markets: in trade after the close on Wall Street, shares drop 4.67% to 14.49 dollars.
ALSO READ:
"Yahoo! Nokia and hand in hand in the mobile internet
Wednesday again, the Asian financial radiant, carried by strong quarterly results from Alcoa and Intel. On Thursday, the return to reality is brutal. Red dominates the markets and doubts about economic recovery back. The reason: the pessimistic talk from Ben Bernanke, Fed chairman, who has already pulled down Wall Street.
The surprise drop in retail sales across the Atlantic (-0.5%) is the straw that broke the camel's Fed. The Fed is lowering its outlook for the world's largest economy to a range between 3% and 3.5%, while three months ago, it was a growth of 3.2% to 3 7%. New measures could even be taken to support the economy.
Japan sees a brighter future
A Tokyo Stock Exchange reacts badly to these ads.In mid-session, the Nikkei lost 0.95% to 9702 points, while the Topix loose 1.45% to 858 points. The more positive about the central bank (BOJ) in the archipelago thus pass almost unnoticed. This morning, though the latter has announced that she saw again significantly increased its growth forecast for the current fiscal year from April 2010 to March 2011, to 2.6% from 1.8% previously estimated. "An improvement is expected due to the increased growth of emerging countries," the BoJ said. This upward revision is due to the government, which in June raised its forecast for growth, also at 2.6%, against 1.4% in its previous estimate.
The BoJ has, however, slightly lowered its growth forecast for 2011-2012 to 1.9% against 2% previously expected free online credit report.Because of deflation, the monetary policy committee has also decided unanimously to leave its rate unchanged at 0.10%.
Slower Growth in China
On the stock markets of Hong Kong and Shanghai, investors are pessimistic. The key indices of the two financial centers are losing 0.28% (20.503points) and 0.36% (2461 points).
In addition to the Fed, the markets saw a dim announcing a slowdown in the national economy in the second quarter. China's GDP has been increasing by 10.3% yoy, against 11.9% at the end of the first quarter. Economists expect at least a growth of 10.5%. In the first half, the economy grew by 11.1%.
Side indicators, the index of consumer prices rose 2.9% in June over a year.Industrial production grew 17.6% yoy in the first half, while investment in fixed capital rose 25.5% year on year.
Oil mast
With China and Japan in the red, the other financial centers are also doubts the move. In Australia, the S & P lost 0.57% in India, Sensex 0.05% loose. Only the Korean Kosdaq climbed 0.69%.
Crude prices were also down on Thursday morning trade in Asia. A barrel of light sweet crude for August delivery lost 14 cents to 76.90 dollars a barrel, while Brent North Sea due to identical, yielding 53 cents to 76.24 dollars.
Air France wants to travel light. The company expects 4390 departures without layoffs by March 2013, a reduction of 16% of its workforce compared to March 2008, after which relies on a document from the Central Committee of the company business.
No social plan, but hiring jellies, retirement and not replaced quits 1765 people. In total, the company should have 2,436 employees under the 2010-2011 fiscal year (which ends in late March 2011), 834 the following year, and 1121 in 2012-2013.
Between the beginning of the crisis in 2008 and 2013, it will be 9312 jobs will be eliminated, according to La Tribune. Hardest hit will be the ground staff including 3,200 voluntary redundancies. While drivers should be redundant by 2013, ground staff and cabin should be reflected in slight under-staffed in three years.
The signing took place in presence of Nicolas Sarkozy and Russian President Dmitry Medvedev. Saturday in St. Petersburg, Russian promoter Hermitage is committed by a Memorandum of Understanding with the EPAD to build by early 2016 two towers of 91 floors of a new kind of defense. Today, the skyscraper highest in the business district tu 220 m The twin towers designed by architect Norman Foster-star will climb to 323 m, "a meter below the Eiffel Tower to avoid offending local sensitivities," says Emin Iskenderov, CEO of Hermitage. Importantly, this will be the first high-rise (high rise buildings) mixed in France combining housing, offices and shops.With the key equipment in unprecedented tours: a theater of 1,300 seats, a contemporary art gallery, a five star hotel, restaurants, swimming pools, a student residence …
As for the apartments have a spectacular view of Paris, they will be positioned in the niche market of luxury with a price of 12,000 euros per square meter. A challenge for Defence is not today a prestigious address for individuals and Parisians are not rushing to live in towers.
Introduced in March 2009, the Hermitage Plaza project has also met with some suspicion among the French real estate professionals. First, because this promoter Russia has never built a tower in France. Then because it is a huge operation to two billion euros.
Buildings slated for demolition
But since then, Hermitage has provided some safeguards.Including funding. "We have already invested $ 150 million, Emin Iskenderov details. And in all, we will bring 250 to 280 million euros in equity. Furthermore, we are in advanced discussions with a pool of European banks to grant us a credit line of 700 million. And the marketing of our area we will bring the remaining one billion euros. "According to our information, Hermitage is also negotiating with the Four Seasons hotel group to host one of its locations in the towers. On the marketing of 540 apartments, Emin Iskenderov was also very confident: "I have already received 3,200 letters of prospects who want to buy from us."
Another thorny issue: the relocation of 250 families who lived in the buildings slated for demolition to build the towers Plaza. For now, Hermitage has found a solution for 235 to 250.That leaves five families to relocate in the year. A task is not insurmountable. But there is still a few steps before this project happen. In late July, demand for building permits will be filed. It should be granted in early 2011. And work should start right away. With delivery scheduled for late 2015-early 2016.
Thursday at the conference NPA-Le Figaro, Stéphane Richard, CEO of France Telecom, has not minced his words. "We're not a patron. On The World, we take a look industrial. "What interests telecom operator, is essentially The World Interactive, the joint venture group Le Monde and Lagardere. Orange would bring his digital expertise. The objective is to achieve the same "marriage" of advertising agencies news sites. Stéphane Richard praised the merits of a merger between Orangeactu and Lemonde.fr, respectively second and third information sites in France. However, the advertising of the World Interactive, called iRégie.com is a subsidiary of World Economy Advertising, itself owned 51% by Le Monde, against 49% of Publicis.
"To play a marginal role"
Problem.If Orange wants to play a role in Le Monde Interactive and its governance, it will have to redeem the minority shares of two words: Lagardère and Publicis. But Lagardere has made it clear he was not a seller 's best payday advance. So, to achieve his ends, Orange must accept an interest in the whole group Le Monde newspaper and the Web. Orange is ready "if necessary, to play a marginal role in the round table" investing "nearly 40 million" on the side of takeover candidates, whoever they are.
The last candidate to have filed a date préoffre is the group Le Nouvel Observateur. His boss, Claude Perdriel, would invest 80 million euros alongside a partner. In front, he will find the offer of the trio Pigasse-Niel-Bergé.All this agitation on the part of candidates has been at the center of the ordinary and extraordinary general meeting of the Society of Editors of the World (MRS) held in the afternoon on Thursday. The next meeting should be convened on June 25, time to get a clearer picture on the submission of applications.
Time is running out, because the world must find the money before July 15. Otherwise, it may be insolvent.
The oil found 70 dollars
Optimism returns on oil markets. On Thursday, oil prices have ended on a 4% rise to 74.55 dollars in New York, gaining 8% in two sessions. The $ 70 threshold was crossed on the rise Monday and picked up the rebound Wednesday. That day, Brent took $ 2.15 (3.09%) to 71.70 dollars, ending a run of nine consecutive sessions of declines.
"The market has received a good dose of optimism," said Phil Flynn of PFG Best Research. "It was time, prices had fallen by 87-65 dollars." For Ellis Eckland, an independent analyst, "it is a rebound in the wake of the stock markets. People are more optimistic about the fact that the euro will not collapse and less frightened about the economy. " Another factor supporting prices: the six-month extension of the moratorium on offshore oil drilling decided by Barack Obama."The United States derive a third of their crude production offshore drilling if we do drill more, this production may simply disappear", said Ellis Eckland.
But the week was also marked by a one-time relapse occurred below 70 dollars Tuesday. Investors, troubled by geopolitical tensions between the two Koreas, suffered a renewed concerns about the pace of global recovery.
If the courts now seem to settle in the range of 70-75 dollars, the volatility is always present. Especially as the U.S. Agency for Energy Information (EIA) announced that crude oil reserves rose 2.4 million barrels to 365.1 million, exceeding their year's level last at the same time.Economists on average had expected an increase of 200,000 barrels only.
Tuesday, Kuwaiti Oil Minister Sheikh Ahmad Abdullah al-Sabah, said he was "not yet" worried by the decline in crude prices. If no emergency meeting of OPEC is scheduled, the oraganisation plans to "call for more respect of production quotas.
Note that oil prices have tumbled more than 20% since the beginning of the month.
Base metals: purchases restart
Prices on the London Metal Exchange (LME) have started to increase last week on the basis of a wave of buying on the cheap. The increase was frankly started Thursday, following the easing of world stock markets after China denied its intention to reduce the share of its assets in euros.The euro strengthened against the dollar, making them more attractive purchases of raw materials with the U.S. currency.
Copper prices have soared to 7,043 dollars per tonne on Friday, a level last seen two weeks. The aluminum prices reached 2,086 dollars per tonne on Friday, their highest in two weeks. Lead, nickel and zinc gained respectively 0.6%, 1.8% and 3.4% payday loans online.
However, caution remains the watchword. The price volatility is high as evidenced by the slowing of the rebound Friday after the publication of consumer spending by American households down in April after six consecutive months of increases. Overproduction of copper in Chile and increased reserves of aluminum could also disrupt markets.
Precious metals: the gold recovery
Fell from its pedestal last week, gold has recovered to historical levels last week in favor of a new wave of market stress in midweek. Alarmed by the risks in the euro area, investors have once again flocked to the safe haven, pushing prices up to U.S. $ 1218.47 on Thursday, not far from the record of U.S. $ 1249.40 May 14 On the London Bullion Market, an ounce of gold finished at 1207.50 dollars at auction Friday night, cons 1179.75 dollars the previous Friday.
And the prospects of rising oil prices are good for the yellow metal. According to the World Gold Council (BMC), consumption should be taken this year by the expansion of the jewelry in China and India.
The ounce of silver has followed the movement of gold, finishing at 18.53 dollars Friday, against 17.72 dollars last Friday.The platinum group metals have also returned to form more than the football World Cup in South Africa could lead to tensions on the country's electricity supply. A situation that could force the mining groups to reduce their production. The ounce of platinum finished at 1555 dollars per ounce of palladium finished at 471 dollars against 419 dollars a week earlier.
Corn and soybeans climbed in Chicago
The corn and soybean prices rose Thursday on the Chicago futures market, driven by the exchanges and oil. More broadly, the decline of the dollar against the euro makes U.S. production more attractive for export.A bushel of corn ends at $ 3.60 (1.12%) and soybeans to close an $ 9.38 per bushel (0.48%).
Cocoa prices have in turn touched a new high in London this week, boosted by the prospect of tight supplies and growing global demand. Thursday, cocoa for July delivery climbed to 2,451 pounds in London, prices not seen for 32 years, while the same term contract in New York reached 3018 dollars.
Sugar, for its part failed to continue its rebound from the previous week. On Liffe in London, a tonne of white sugar for August delivery was worth 475.80 pounds on Friday. On the NYBOT U.S. a pound of raw sugar for July delivery was worth 14.83 cents.
ALSO READ:
"Weekly Review of May 17: Oil dropped below $ 65
The daily Les Echos published on Wednesday, unpaid bills accumulate on the offices of the Directorate General of Armaments. The culprit is the new system of accounting and financial state, Chorus, whose launch has caused many problems: "Taking the data files completely missed, parameterization of the software too rigid, inadequate training of agents, all full reform of the armed … "reports and Voices, which speaks of several million euros unpaid, or even one billion.
Being launched in all central and decentralized administrations, the application Chorus aims to simplify the governance and implement the provisions of the Organic Law on Financial Legislation passed in 2001 cash advance.
But for now, the goal is far from being reached at the Department of Defense.According to Les Echos, a delegation of French industrial land defense at Bercy reported that unpaid bills put some SMEs in significant difficulties. A special circuit was established to regularize the accounts with the weaker companies. But the return to normalcy would not be expected before the end of the year …
In Brussels
The epilogue finally began in the Greek crisis. Emergency Meeting in Brussels on Sunday, finance ministers of the euro area have decided to implement a massive rescue plan: 110 billion euros in loans over three years (80 billion from the states in the area, the rest from the IMF). From never-seen in the recent history of finance. "There is no question of going back on it", insisted the president of the Eurogroup Jean-Claude Juncker. The Extraordinary Summit of Heads of State and Government, convened Friday should be a formality. For its part the IMF managing director Dominique Strauss-Kahn, said that the agency would approve a loan of 30 billion "in the week."
To convince its European partners, Greece on Sunday presented a plan of unprecedented sacrifices.The goal: save 30 billion euros over the next three years (or 11% of the GDP of the country!), In addition to 4.8 billion euros announced for 2010. For the people, the bitter potion looks, since it will give up the 13th and 14th month of salary for civil servants and swallowing up of one to two points in the VAT, which already stands at 21%. Taxes on fuel, alcohol and tobacco would be increased by 10%. Public investment will fall 1.5 billion over two years. The duration of pension contributions from 37 to 40 years. But is the price to pay to bring the deficit below 3% of GDP by the end of 2014 – against 14% in 2009. "These are tough sacrifice, but necessary," without which Greece would "bankrupt", said Greek Prime Minister George Papandreou.
The bill also promises salty for Europe and the IMF.The money lent by the Europeans will be distributed among them in proportion to their participation in the euro, or 21% for France and 28% for Germany. But "it's give and take," assured Christine Lagarde just before the meeting. The French Minister of Finance have no doubt: "The French and European citizens will review course their money, and loans will be repaid, principal and interest payday loans with no fax. "
Banks asked to put their hands in the pocket
Banks should also be tapped. "I would expect that the financial sector also look what he can do," warned the French minister, citing "an exercise of solidarity."For his part Jean-Claude Juncker, has assured that "all ministers have agreed to do with their respective financial and banking sectors which voluntary contributions could make the banks. Already, Deutsche Bank, Allianz and reinsurer Munich Re would pay 1 billion euros to Greece under the same conditions as for the States of the European Union, said Sunday night the Financial Times Deutschland.
Europeans paying dearly for their procrastination – "I acknowledge that I too almost lost patience along the way," admits Jean-Claude Juncker. But they had no real choice. The markets, which have been flying yields Greek beginning to wonder if Portugal and Spain since Standard & Poor's downgraded their rating."It is not only Greece but also help the rescue of the euro," said Belgian Finance Minister Didier Reynders. We must avoid the contagion. Even Germany had overcome its hostility to the idea of saving Greece from its own mistakes. "It is our duty to defend the stability of the euro area as a whole," assured the Finance Minister, Wolfgang Sch?uble.
With this plan, the financing needs of Greece are insured for 100% during the first two years and a guarantee fund for banks with 10 billion euros, has also been established. It was time for Athens was important to begin to touch the money before May 19, to pay 9 billion euros maturing at that date.
ALSO READ:
"Crisis Greek Athens prepares a shock treatment
"Questions about the crisis in the euro area
"SPECIAL – Greece, a challenge for Europe