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Always worried about the pace of recovery in the United States, the U.S. equity market, are cautious on Thursday before several major events at the macroeconomic level. The Dow Jones up 0.62% at 10,564 points while the Nasdaq is 0.8% to 2283 points and the S & P 500 gained 0.67% to 1,113 points. Wednesday is the New York Stock Exchange finished in the red.

The Fed Beige Book released Wednesday evening has reported a recovery in global economy. But two of the twelve regional branches of the Fed said the pace of activity has slowed recently, Chicago and Atlanta, and two others have found a stable economic situation in Cleveland and Kansas City.

On the foreign exchange market, the euro rebounded to 1.3095% from 0.79 dollars, its highest since two months.

Side indicators on Thursday, markets will expect enrollment figures weekly unemployment in the U.S. earlier this afternoon. The primary appointment of the week is expected Friday with the first estimate of gross domestic product (GDP) which will attract the attention of investors.

Symantec picks

On the side of values, Visa (-1.9% to U.S. $ 73.75) yesterday issued a profit after the close of U.S. $ 716 million, or 96 cents per share, against 93 cents expected by analysts. The group's turnover is up 23% to $ 2 billion against $ 1.97 billion expected by analysts.

The publisher of Symantec Antivirus (-9.6% at 13.26 dollars) has announced an increase in its profit to 161 million dollars against 74 million last year. But the disappointment comes from the software storage management data that represent 36% of sales.The activity is down 5%.For the current quarter, the group revised downward its revenue were planning.

U.S. oil giant ExxonMobil (1.44% to 61.79 dollars) on Thursday posted a net profit nearly doubled on a year in the second quarter to 7.560 billion dollars, thanks to improved refining margins and higher oil prices.

Net income group share stood at 7.560 billion dollars against 3.950 billion a year earlier (+91%).

For its part, the group sales online Amazon U.S. (1.31% to 119.67 dollars) has launched two new models of its Kindle reading shelf.

Always on the side of values, the car rental company Avis (3.52% to 11.47 dollars) amounted Wednesday its bid for rival Dollar Thrifty, with 13.4% more than Hertz, 1.33 billion in cash and stock, hoping to cut short the agreement between Hertz and Dollar in April.

Also note, Chris Viehbacher boss Sanofi Aventis (1.76% to 29.99 dollars) has confirmed that group continued to explore possible "small or medium-sized" acquisitions. He declined to comment on rumors about the interests of U.S. biotech group Genzyme. Earlier in the morning, sources cited by Reuters said that the laboratory intends to make a formal offer on Genzyme after the failure of his informal approach on U.S. biotech specializing in the treatment of orphan diseases.

According to Bloomberg, the board of Sanofi has authorized management to offer up to $ 70 per share, an offer that values Genzyme $ 18.7 billion.

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.

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The Paris market is still showing caution, but returns in the green after losing more than 5% on only two days Monday and Tuesday. At mid-session, the index feature of the Paris Bourse is 1.03% at 3826 points.

Even more measured but still trend elsewhere in Europe. At the London Stock Exchange, the FTSE-100 gained 0.39% to 5608.13 points. At the Frankfurt stock exchange, the DAX 30 0.21% advance to 6097.14 points.

The Athens Stock Exchange, somewhat protected by the ban on short selling by the Constable of the Exchange, wins it, at 1800.37 up 5.45% points on Thursday at midday, buoyed by the hope of an early agreement on the payment of a substantial international assistance.

Greece, Portugal and Spain. Southeastern Europe continued to frighten the markets Wednesday. The Spanish saw its debt rating one notch worse, with a negative outlook.But a lull stands today, while the European leader and the IMF have sought yesterday to reassure markets.

Between degradation rate and retention Note

During a joint press conference yesterday, Jean-Claude Trichet, president of the European Central Bank, and Dominique Strauss-Kahn, director of the International Monetary Fund, have called on Germany to take an expeditious decision on aid Greece. Both men say they are confident. German Chancellor Angela Merkel it seems, heard the message, since it has declared its intention to activate "as quickly as possible" aid plan.

On the macroeconomic front, a decision came from the United States has reassured Wall Street and in its wake, the European stock.The Fed has indeed confirmed keep interest rates low for "a prolonged period, despite a rapid recovery of the economy.

After two sessions of sharp declines, the bank stocks are returning to earnings. In Paris, BNP Paribas gained 1.29% to 51.64 euros, Dexia advance of 0.78% to 4.132 euros and Societe Generale was up 0.07% to 40.940 euros. In contrast, Credit Agricole, which said Wednesday night that its exposure to sovereign risk in Greece amounted to EUR 850 million, lost 0.32% this morning at 11.02 euros, before returning + 0, 5% to 11 105 euros at midday.

CAC 40: Pernod-Ricard in mind, PPR red lantern

Among the values that have posted Wednesday, PPR has returned to growth in the first quarter after five consecutive quarters of downturn, and said Tuesday, predicting a further acceleration in sales during the year.However, PPR shares fell sharply, from 3.03% to 100.80 euros, the biggest drop in the CAC 40.

Thursday is the many publications of quarterly results, on both sides of the Atlantic to Paris, ArcelorMittal (-0.77% to 30.760 euros) reported a net profit decline of 36.6 % in the first quarter 2010 over fourth quarter 2009.

France Telecom (1.13% to 16.520 euros) issued a turnover down 2% in the first quarter of 2010, in line with market expectations.

The result of Sanofi-Aventis (down 0.25% to 51.75 euros) rose 9.7% to 2.4 billion euros in first quarter 2010 against a consensus of 2.28 billion euros.

Bull (4.36% to 3.35 euros) saw its sales boosted by the acquisition of Amesys, a company specializing in security systems: its turnover grew by 9.4% against 0.6 % off-Amesys.

Pernod Ricard has announced an increase of 14% of its turnover for the third quarter of 2010 of its fiscal year 2009-2010 to offset 1.5 billion euros. Pernod Ricard shares climbed 4.40% to 65.76 euros, the CAC 40 rising high.

The results of Vivendi (1.21% to 19.680 euros), AXA (-0.26% to 15.105 euros), Bouygues (2.07% to 37.425 euros), Areva (-1.32% to 375 euros) or Michelin (-0.06% to 52.47 euros) are also expected.

Renault (-0.37% to 34.620 euros) has announced the acquisition of interests between the group, its Japanese partner Nissan and Germany's Daimler had been made Wednesday. The three groups have formalized their alliance in early April for three to share technologies and reduce costs.

The U.S. unemployment statistics in the heart of the day

On the macroeconomic front, the day will, however, less responsible.By midmorning, the German Federal Labour Office has reported a decline of 68,000 in the number of jobseekers in seasonally adjusted data, to 3.285 million, while economists were expecting an average decline of 10,000. Around 14:30, the investors will also monitor the weekly claims for unemployment benefits in the United States, and economic confidence in April in the euro area.

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Veolia Environment is doing well in 2009. The group, which publishes Better Canada on Friday reported a net profit group share of 584 million euros, a sharp rise of 44% compared to 2008. It is far more than expected by the markets as analysts expected an increase of 34%.

Regarding turnover, however, performance is online. The group's revenues decline by 3.4% to 34.551 billion euros. Observers expected a decline of 2%.

The group expects an increase in its operating performance in 2010, further reducing costs.

Veolia Environnement intends to pay its shareholders a dividend of 1.21 euro per share for the year 2009. This proposal will be voted at the General Meeting of May 7

More details to follow ….

The Iraqi Oil Ministry has awarded this Saturday oilfield Qourna-2 in western consortium of Russian Lukoil and Norway's StatoilHydro. With 12.8 billion of reserves, Qourna in the south, is the largest of the ten fields for auction this weekend in Baghdad.

Lukoil, StatoilHydro proposed to be paid $ 1.15 per barrel to produce 1.8 million barrels per day.

The French group Total was also a candidate. After failing on Friday another mega Majnoon field (12 billion of reserves), the multinational and thus suffers another setback. After two days of the auction will win the total operating a field much smaller than Halfaya and minority partnership with the Malaysian Petronas and China's CNPC. But as its leaders had repeated, Total was not ready to engage in Iraq at any price.The French multinational denounces discounts on their earnings than its rivals agree in hopes of winning these contracts. Absent from Iraq since the fall of Saddam Hussein's regime in 2003, Total will have to wait before making his return to a country which has the third largest reserves of oil and where the French group was present for decades.

With five fields awarded since Friday, Iraq is certain to occur in the coming years to 4.485 million bbl / d more.

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Air France would seek to lower its costs, including the medium-haul. According to The Tribune on Tuesday, the company would increase 15 to 20% the productivity of its flight personnel (pilots, flight attendants) to counter the stiff competition from airlines Low-cost flights and the TGV.

The newspaper said the number of flight hours performed by the pilots could spend an average of 565 per year to 650. They totaled 700 at Easyjet, Ryanair 900 and 850 hours at Transavia, low-cost subsidiary of Air France. The group would however have to review the collective agreements which run until 2011 for pilots and 2013 cabin crew.

The newspaper said that these figures were announced Friday by the Director General Bruno Matheu marketing at an internal meeting between the leadership and cadres of the group.However, management told AFP today that she "had never advanced figure Friday. However, "reform on the short and medium haul should be prior consultation with the aircrew," she added.