In this eventful weekend, the CAC 40 is expected to rebound on Friday. The benchmark index of the Paris Stock Exchange is expected up 1.5% as planned, after a tumble 5.25% on Thursday at 2781.68 points. Mobilization and call for unity of the G20 (which is to meet at 14 am today) should reassure markets. While Friday morning, Asian stock markets were still sharply lower.
To deal with the stock market crash, the finance ministers and central bankers of the twenty first world economies have pledged to provide "a strong and coordinated international response" to the crisis at a meeting in Washington. In a joint statement, they agreed to ensure that "banks have adequate capital," after the plunge in recent days of European banking stocks, undermined by fears of debt crisis in the euro area .In fire, central banks have promised to make "the necessary liquidity" to financial institutions.
In addition, large emerging group of Brics Thursday said they were "determined to accelerate structural reforms to sustain strong growth" in a joint statement after a meeting in Washington.Brazil, Russia, India, China and South Africa are therefore considering "if necessary, to provide support through the IMF or other international financial institutions, to address the current challenges to the stability financial crisis, according to the circumstances of each country. "
Meanwhile, in response to a request by the G20 in September addressed to Nicolas Sarkozy, the euro zone countries have pledged to implement "necessary measures to increase the flexibility of the European Financial Stability Fund (EFSF)" to prevent contagion from the crisis in Greece. Yesterday, the possibility of a defect in Athens, though long ruled by EU leaders, was raised by Klaas Knot, Member of the Board of Governors of the European Central Bank (ECB). "This is one of the scenarios," he told the Dutch newspaper Het Financieele Dagblad.He added having "long been convinced that the collapse was not inevitable. But the news from Athens, at times, are not encouraging. "
The specter of a recession is not écartéToutefois, the specter of a global recession has not yet ruled out after the ads pessimistic U.S. Federal Reserve (Fed), which held that the U.S. economic recovery was "slow "and threatened by" high risk ". Wednesday she has decided to sell by the end of June 2012 for $ 400 billion of treasury bills and to purchase for the same amount with a longer maturity paperless payday loans. But the fact that it favors measures to monetary easing, a depressed market on Thursday, who sees as a sign of impotence.
On the macroeconomic front, France, the monthly business survey by INSEE household, industrial, construction, retail trade, car repairs and services for the month of September include expected. And the index of business climate and economic downturn for the same period.
On the foreign exchange market, the euro appears in small increase compared to the U.S. dollar: it rose on Friday morning from 0.42% to 1.351 dollar. Oil prices also went up, investors sniffing deals after the significant losses suffered by the crude in recent days.Within the scope of a tumble of more than $ 5 Thursday, a barrel of "light sweet crude" for delivery in November clinching 53 cents in early electronic trading at 81.04 dollars, a barrel of Brent North Sea crude for November delivery gained 71 cents to 106.20 dollars. "Oil rises due to bargain hunting and redemptions of coverage after several sessions of decline," said Ker Chung Yang, analyst at commodity Phillip Futures in Singapore.
Values to follow
• Banks
The European Banking Authority (EBA) said Thursday there were no plans to force a number of European banks to raise capital more quickly than expected and that the original schedule established at the time of stress tests was valid.According to information published by the Financial Times, European leaders would be willing to accelerate plans to recapitalize banks 16 which narrowly failed to stress test this summer.
• GDF-Suez
There will be no increase in gas prices for individuals to October 1 but enterprises will experience a rate increase of 4.9%, announced Thursday a spokesman for the French Ministry of Industry and the Energy.
• EADS
Airbus, a subsidiary of the European giant, is ready to help customers who are in need of funding due to the debt crisis in Europe and expects a good year in 2011 despite the crisis, said its president Thomas Enders in our columns.
• Groupama
Under the threat of lowering its rating by Standard & Poor's, the company says it wants to save 300 million euros over 2012-2013, we read in Les Echos.
• Technicolor
The group said confirming its forecast for fiscal 2011 the group announced Thursday night, after falling nearly 15% of its share price. It also confirms the intention of France Telecom to give up his development project with a group of next-generation decoder.