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Beijing puts pressure on the euro area. This Saturday, The People's Daily, the official organ of the Communist Party to power in China, called on European countries to act decisively to resolve the debt crisis that hits the old continent. "Europe is at a critical moment in its history. It must show great wisdom, great courage and great determination and take action. If the decision comes too late, some members of the euro area will leave "the daily warns.

Beijing, which was ready in early to invest more in Europe to diversify its three trillion dollars in reserves, could turn back if the situation does not improve quickly. "If Europe continues to dither, the situation can get worse. Foreigners who wish to help will not dare and the euro area will disintegrate.This would be a disaster for Europe and the world, "said the daily.

Nicolas Sarkozy will discuss with Angela Merkel

At the opening of Summer Davos Forum, Chinese Premier Wen Jiabao, however, had expressed his confidence in the euro zone leaders business card design. "China believes that the European economy can bounce back," he explained. Support has already been taken in Greece, Portugal, Spain, and Hungary.

Friday, Nicolas Sarkozy, who met Greek Prime Minister George Papandreou, has again reaffirmed the determination of Paris and Berlin to support the country in which the probable default of most concern global investors. This last debate "in the coming days" with Angela Merkel of the rapid implementation of measures decided on July 21 to stabilize the euro area.For its part, Greece has called an extraordinary cabinet meeting of his government on Sunday.

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The people of the East Coast of the United States are preparing for a weekend out of the ordinary. In anticipation of Hurricane Irene, the authorities announced palsy or slowing of most means of transport that normally innervate New York Area. Once is not custom, the inhabitants of the Big Apple, including 250,000 living near the coast are being evacuated, will have to live in slow motion.

For security, the three New York airports – JFK, La Guardia and Newark – will be closed Saturday for aircraft arriving at noon (18 hours Paris time). The flights from these airports, however, may take off until further notice. This is an extraordinary disruption to an area that typically concentrates the air flow one of the densest in the world: each year, as many as 100 million passengers pass through this metropolis.This weekend, nearly 8,000 flights should be canceled.

Like most of his counterparts, Air France announced Friday the cancellation of all flights to New York JFK on Saturday and Sunday, while disturbances are waiting on those provided to and from other cities the coast, like Washington, Philadelphia or Boston. The resumption of service, from Monday, could also be laborious and cause further disruption, have also warned the airlines.

Transport suspended

Measure more tangible for the people, public transport will be suspended in the Big Apple this Saturday from noon until probably Monday rush hour guaranteed online payday loans. The subway, buses and railways do not circulate. Motorists have also been asked to leave their cars at home until the alert is lifted.If winds exceed this weekend 96 km / hour, the authorities of the State of New York have also warned they would close the main roads towards the city, and some bridges.

Given the restriction of transportation and possible damage caused by the passing of Irene, the inhabitants were ordered to stockpile water and food in preparation for the weekend. "Water is our product that sells best," noted the retailer Wal-Mart on Friday. Many are those who are armed with power generators in case of power failure.

To address these potential damages, the cost could rise to nearly $ 12 billion according to consulting firm Kinetic Analysis, U.S. authorities are preparing to deploy in new ways.900 National Guardsmen and 2,500 workers in the electricity sector include ready to intervene in case of power failure. All these measures aim to avoid at all costs repeating a scenario to Katrina, the hurricane that was painfully struck New Orleans in 2005.

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The concern again lead the Paris Bourse. The CAC 40 was launched on the day down 0.37% to 3064.49 points. But around 9:40, the fall has accelerated: the Paris index of 3.44% to unscrew 2970.13 points, releasing the threshold of 3000 points. The CAC has, however, resumed in the afternoon around 16:30 it is in the green briefly before returning to equilibrium, yielding 0.10% at 3072.88 points. London erases even his losses: the FTSE-100 gained 0.22%. In Frankfurt, the Dax lost no more than 0.39%. Madrid still loose 1.38%, Milan were down 0.53% and 0.57% in Zurich. Across the Atlantic, Wall Street returns to the green: the Dow Jones gained 0.29% and the Nasdaq 0.93%.

Operators are struggling to recover from their emotions after the new European stock markets plummeting and U.S. Thursday. This morning, Asian stock market sent negative signals with indices in very sharp drop.This bad mood due to a surge in concern about the state of the global economy, reinforced by poor indicators of the Atlantic. Bad index measuring the Philadelphia Fed manufacturing activity in the region, lower sales of existing homes in July, new jobless claims rising again during the second week of August … All signs of the apparent stagnation of growth in the United States.

Concerns about U.S. growth fears add to the debt crisis in Europe, European banks are the first to bear the brunt. In its Thursday edition, The Wall Street Journal reported on fears the U.S. Federal Reserve on the liquidity of European banks.And for the first time since February, the European Central Bank (ECB) has given a major dollar loan to a European bank, whose identity was not revealed. An action that reinforces doubts about the ability of banks to refinance.

Morgan Stanley has added his two cents to panic, explaining that she perceived the United States and Europe as "dangerously close to recession." The President of the European Union, Herman van Rompuy, tried Thursday to calm the mind by ensuring that there was "no new recession" in sight. And this morning, Chinese Vice President Xi Jinping has reaffirmed that the U.S. economy was "resilient". In vain.

"The bears are back"

"The bears (pessimistic players, ie) are back in force that night, after disappointing U.S. economic indicators and renewed fears about the stability of European banks, which prompted investors to push the button sales," said Ben Potter, an analyst at IG Markets in Australia. "There seems to be getting ready for a weekend very ugly, with a market dominated once again by fear and panic," he added.

Gold reached a new record Friday morning in Asia, to 1,837.50 dollars per ounce, due to the concern. And oil, which fell 6% in New York yesterday, continues to fall in morning trading.A barrel of "light sweet crude" for September delivery lost 1.69 dollars to 80.69 dollars while that of Brent North Sea crude for October delivery gave 68 cents to 106.31 dollars.

No significant indicator that could reverse the trend, are expected on Friday.

Values ​​to follow

The banking sector

European financial stocks, which had been rolled by a renewed tensions in the interbank market and concerns about the short-term refinancing of the banks were still under attack this morning.BNP Paribas (-3.01% to 33.18 euros), Natixis (0.97% to 2.924 euros), Credit Agricole (-0.40% to 6.203 euros), Societe Generale (-0.46% at 21 , 50 euros) and AXA (-1.42% to 10.405 euros), however, have erased some of their losses in the afternoon.

Danone: -2.21% to 45.835 euros

Nestlé, the group became a favorite activity for infant formula, Wyeth, Pfizer subsidiary, valued at approximately ten billion dollars (seven billion euros), officials said a source familiar with the bank.

Technip: -0.98% to 59.38 euros

The French engineering group said it had received a letter of intent on the part of the American oil company Anadarko for the construction of an offshore platform for the Gulf of Mexico.

In the aftermath of a black day on world financial markets, U.S. equity markets continue to brood. Despite an early trading in the green, the indices fro significantly negative territory 30 minutes after opening, despite the announcement earlier this afternoon in U.S. unemployment figures better than expected for the month of July. A 16h Paris time, the Dow Jones falling 0.48% to 11,328 points, the Nasdaq lost 1.46% more frankly to 219 points and the S & P was down 0.69% to 1191 points.

A move followed by other European stock markets. In Paris, the political mobilization against the bear market of Europe, however, allows to limit the drop in European indexes.

The employment figures dictate trend

In this context the assumption of a recession in the U.S. or the world, is today one of the main fears of the markets, the announcement of a significant improvement in job creation last month seems calm people down on Wall Street Friday after a collapse in U.S. up over 4% yesterday. In recent weeks, disappointing publications on the state of the U.S. economy had, in fact, chained, challenging the idea of ​​resumption of the world's largest economy. This publication confirms the figures released Wednesday by ADP, reports of more new jobs than expected for the month of July.

At 21 hours the numbers of U.S. consumer credit for the month of June will end this week full of macroeconomic data.

Oil and euro pressure

Oil prices climbed hesitantly at the opening Friday in New York, despite the employment figures better than expected, as the market wondered if it would be sufficient to support the demand for crude in a very fragile economic environment . On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 87.04 dollars, up 41 cents from the previous day.

This concern also weighs on the currency front, the euro was trying to rebound against the dollar but remained under pressure from macroeconomic concerns.To 15 hours in Paris, the European currency was worth 1.4224 dollars against 1.4106 dollars on Thursday night, after falling to 1 payday loans for self employed.4055 dollars in early Asian trade, its lowest for three and a half weeks.

AIG, GM and Procter & Gamble publish their accounts

On the corporate side, the semi-annual publications still dominate the news on Friday.

Thursday evening after market, the insurer AIG (-0.23% to 26.34 dollars) announced a return to the green of its accounts in the second quarter, with net earnings of $ 1.84 billion over the period, against a loss of $ 2.7 billion a year earlier. Per share, net income totaled $ 1 ($ 0.69 after tax, against $ 0.92 expected by analysts).

At the same time, and its first quarterly since its IPO on May 19, LinkedIn (-2.27% to 93.36 dollars) was positively surprised markets by announcing a turnover more than doubled the second quarter to 121 million dollars (120 euros) and net profit (4.5 million), where analysts expected a loss.

GM Motors (1.27% to 26.32 dolars) Thursday reported quarterly results exceeded expectations, with a near doubling of profits over the period.

Procter & Gamble (1.78% to 60.64 dollars) released before market on Friday for the fourth quarter of fiscal offset, net income up 15% to $ 2.51 billion.Of 2010-2011, so it shows a net profit of 11.79 Annual Statement billion, down 7% from the previous year.

Viacom (3.55% to 53.17 dollars), the parent company of MTV and Comedy Central, has reported a rise than expected in earnings thanks to strong revenue growth in advertising Cable and license agreements with websites. Its quarterly results (Q3) increased to $ 574 million against 432 million

Bank of America (1.70% to 8.98 dollars) is highly exposed to the most fragile countries in the euro zone, according to a document from the bank. The group said exposure to the tune of $ 16.7 billion (11.8 billion euros) in total to Greece, Ireland, Italy, Portugal and Spain in June 30Management has indicated in a document submitted to the regulatory authorities that its losses could reach up to legal $ 2.3 billion in addition to the provisions already passed for this purpose.

The major stock markets in Asia are in the red on Tuesday. The signals sent yesterday by the stock exchanges in Europe and the United States do not encourage investors to take risks. Gloom settles permanently while stresst tests of European banks are not convincing and that the debt problems on both sides of the Atlantic continue.

In Tokyo, the Nikkei, which resumed trading after the long weekend, started on a decline of 0.53%. An hour of closing, it was down from 0.60% to 9914 points. The banking sector is particularly abused in the image of Mitsubishi UFJ Financial (-2.54%), Nomura Holdings (-2.34%) and Daiwa Securities Group (-1.15%). Export values ​​also suffer from a higher yen against the dollar: Sony loose 2.06% 3.63% Nintendo loses first Panasonic was down 1.95%.

For their part, Hong Kong and Shanghai respectively lost 0.29% and 0.47%.In Hong Kong, banks are still in trouble: HSBC Holdings (-0.47%), Agricultural Bank of China (-0.99%) and China Merchants Bank (-0.22%) down.

Only exchanges of Korea (0.12%), Australia (0.10%) and India (0.26%) manage to rise into the green but remain cautious. Note that at the Sydney Stock Exchange, the action News Corp, battered since the wiretapping scandal, bounced 2.54% to 14.53 dollars as investors take advantage of lower stock price.They also respond to information from the Wall Street Journal under which Rupert Murdoch, the founder of the media group, plans to release the reins of his company.

Oil climbs the slope

Oil prices were up Tuesday in electronic trading in Asia, investors taking advantage of prices driven down by concerns about the debt crisis in the eurozone, analysts said.

In morning trading, a barrel of "light sweet crude" for delivery in August took 38 cents to 96.31 dollars. That of Brent North Sea crude for September delivery took 41 cents to 116.46 dollars.

While Wall Street ended the session and declined Friday Asian stock markets see red on Monday morning, the CAC 40 continues its decline on Monday. Halfway through, he gave up 1.44% to 3858.11 points. The session will be marked by the expectation of the beginning of earnings season in the United States, with the aluminum giant Alcoa, which must publish its figures after the close of Wall Street. Investors are also nervous until the advances of another meeting of central bankers in the euro area held Monday in Brussels.

Van Rompuy, Barroso and Trichet, heads of three major European institutions – the Council, the Commission and the Central Bank – in fact, find themselves on Monday to spur the seventeen countries of the euro, still unable to agree of mounting a second rescue plan for Greece.Then the seventeen ministers of finance are again struggling in the afternoon of the participation of private creditors (banks, insurers and pension funds) to finance the 110 billion euros expected by Athens. In addition, concerns are doing now in Italy. Friday, the country has seen its returns soar. Rumors about a possible resignation of Finance Minister Giulio Tremonti, would have triggered the movement.

These concerns continue to weigh on the euro, which widened its losses against the greenback on Monday. Around 11:00 in Paris, the single European currency was worth 1.4123 dollars against 1.4258 dollars on Friday night, falling to levels seen for two weeks.

The macroeconomic situation across the Atlantic does not reassure the markets more. The United States are also penalized by a debt record. Barack Obama finds MPs on Monday.He said Sunday night, before a meeting with key members of Congress, he "must" that Congress reached agreement on the debt within 10 days. Otherwise, the U.S. could default on August 2.

Chapter macroeconomics, INSEE released the figure in industrial production in France for the month of May Over the period, and after two months of decline, it bounced 2%, against 0.5% expected by the consensus.

Car values ​​down sharply, despite the results of Renault and for values, the release this morning (tomorrow ahead of Peugeot-3, 74% to 30.09 euros) business results Renault (-2.17% to 38.35 euros) was not at all convinced investors. Carlos Tavares went to the site of Flins Monday.The automaker has announced an increase of 1.9% of its global sales in the first half, the strength of demand abroad offsetting supply problems it encounters in Europe. The group also expressed its willingness to establish a new sales record this year by selling more than 2.6 million vehicles due to its growth internationally and despite the poor performance in Europe in the first half, he said Monday.

The financial sector ailing

The financial sector is in bad shape, still weighed down by the debt crisis in Europe. Mid-session, BNP loses 3.92% to 47.87 euros, Axa, plunges 4.69% to 14.53 euros, Crédit Agricole ceded 3.05 9.18% to 3.88 euros and Societe Generale to 37.03 euros.

Air France (-1.37% to 10.06 euros) will propose October 13 routes from Marseille to France, Europe and the Mediterranean from 50 euros one way, a way, she says, to launch an "offensive" against the low cost.

Moreover, the energy values ​​react more weakly to kick off the giant tender (about 10 billion) government on the construction of an offshore wind farm with a capacity of production of 3000 megawatts.

Several candidates have already expressed: the consortium GDF Su ez (-0.84% ​​to 24.08 euros), Areva (-0.81% to 24.50 euros) and Vinci (-0.92% to 41.98 euros), another consortium Areva and combining the Spanish giant Iberdrola, EDF EN and all (-0.01% to 39.67 euros), Alstom (-1.2% to 40.76 euros ) and Dong Energy.E. ON and EDP-R have also responded to the tender.

Total (-1.09% to 39.53 euros) could write off some tax benefits. Following the controversy triggered by the imposition of any large groups of the CAC 40, Total could give up to enjoy the tax shelter known as "worldwide profits." The CEO also announced that he would pass to the pump the recent increases in crude oil prices.

Mergers in the telecoms

Bouygues Telecom, a subsidiary of Bouygues (-0.85% to 28.63 euros). The smallest of the three French mobile operators own their own network announced Monday the signing of a framework agreement with Spain's Telefonica, which will allow it to benefit from the infrastructure and the size of its new partner.For its part, rival France Telecom (-0.63% to 14.17 euros) was approached by the television channel in Qatar, Al-Jazeera, for the redemption of Orange Sport. Discussions are in progress.

Sanofi (-0.94%, to 55 euros). The laboratory has sold its dermatology at Dermik Valeant Canada for $ 425 million (300 million) to focus on its platform for growth in the United States and Canada.

Airbus, a subsidiary of EADS (-0.15% to 23.16 euros), would be willing to sell out to rival Boeing. The European aircraft manufacturer could make significant price reductions to crop market share with its U.S. rival in the U.S., in connection with the tender launched by American Airlines, says the Wall Street Journal. The U.S. airline expects to order 250 aircraft.

On the other hand airlines could face a strike in early August.The union of airline pilots SNPL filed a strike notice for all French airlines from August 5 to 8, written Tribunedans his edition of Monday.

Ipsos (-0.06% to 32.76 euros) could be thwarted in his plans to return to UK Synovate. In fact, the British investment fund would be willing to put 675 million euros for the acquisition of Synovate, the tamping pin to French Ipsos already in discussions with the company for market research, according to information from the Financial Times. The Aegis Group, which owns Synovate, however, have rejected the offer.

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After attacking the Portugal earlier this week, markets accentuate the pressure on Italy. Friday, the Milan Stock Exchange closed on a fall of 3.47% due to a sharp drop in bank stocks. The Italian 10-year rate reached a record 5.259%, while the gap with the German borrowing rates soared to 242.4 basis points. The markets fear a contagion of debt to Italy, the third economy in the euro zone, whose debt reached 120% of GDP. Under pressure from rating agencies threatening to lower the rating of the country since the spring, Rome adopted an austerity budget of 40 billion euros on Thursday, but the political crisis, revived by Berlusconi's statements could derail everything.

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As announced in Le Figaro, the agreement on supplementary pensions signed last spring is unfavorable to executives who have raised several children, so much so that the CFE-CGC, the union executive has decided to attack the text justice.

The agreement signed in March after lengthy negotiations in effect alters the rules of pension bonus if families "many." From 1 January next year, the increase will be only 10% whatever the number of children cared for by the frame from three. The rule still in force today is much more favorable since the pensions of executives can be increased by 8% to 24% depending on the number of children.

Cap

Adjusted parallel, the amount of increase is now capped at 1,000 euros per year. Emmanuel Grimaud consulting firm optimization retirement Maxims, asked on Europe 1 this morning, made the calculation of the shortfall.For an executive who has had four children and affects 2700 euros monthly pension, the bonus is 2000 euros per year today. With the new rules, it does affect more than 800 euro mark, that is to say 1200 euros less each year. If we relate this loss to the number of years spent in retirement, 25 years on average, the loss of purchasing power reached 27,000 euros says the expert.

Emmanuel Grimaud said that once, future retired executives must make it their calculations, especially if born before July 1951.In some cases it may be more interesting for them to liquidate their retirement before the end of the year rather than waiting for the entry into force of the new text, and this even if they have not paid all quarters necessary for the full rate.

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Financial markets and agricultural raw materials do not mix. In any case, what does France think G20 chair. The Hexagon actively campaigning for the establishment of a regulatory firmer prices reaching highs that had not been seen since the 2008 food crisis. "The grocery market has become political," Ralf Oberbannscheid annoyed, fund manager DWS Invest Global Agribusiness, the largest sector with a portfolio of $ 5 billion.

While in Paris, he wanted to do an update on this burgeoning sector of agro-industry, he said, "has enormous potential" still under-exploited due to poor image enjoyed investors. "Today, governments assume that all investors are speculators.However, soaring prices is often because of industrial needs, such as when the giant American Pilgrims Pride massively bought seeds to feed his chickens in 2008. " Even if it confirms the need for transparency voiced by France, the professional agricultural investment offended when we talk about regulation. "The country will not follow those rules, and capital will go elsewhere. It's insane, "he slice.

According to him, the debate provoked by soaring food prices should just be an opportunity to call operators to invest more heavily in the entire value chain of the food sector, "farm to plate."

Buy everything from Monsanto to Tesco

This investment policy, DWS Invest Global Agribusiness implements it since the birth of the fund in 2006.The strategy is simple: take stakes in companies related to the sector, from upstream to downstream. In other words, investing in farms, transport companies, restaurants or distributors. "We do not invest directly in commodities which reduces our exposure to volatility," said Ralf Oberbannscheid.

Massively present in the United States (36.8% of its portfolio) and emerging markets (25% to 30%), the fund holds stakes in more than 800 groups as diverse Danields Archer Midland, Syngenta, Monsanto, Unilever and Tesco. The choice of companies is, as the manager, on financial grounds but also ethical. "We strive to meet our own farmers to make sure they practice an agriculture that respects the environment", explained Ralf Oberbannscheid.

The potential of emerging

In the area of ​​agro-industries, this fund was born five years ago is the oldest, demonstrating the reluctance of investors to enter this minefield. The high volatility of this market, linked to climate change is one of the biggest barriers to ambition. "There is indeed a rising number of disasters. But the tools of analysis and forecasts are now more reliable than before, "says Ralf Oberbannscheid. Investment opportunities are also large enough to offset this effect difficult to control. "Countries in the process of urbanization attract richer people, who eats better and will expand the segment of organic food for example. This is the case of China, Brazil, Russia and Ukraine, "said the latter. Biofuel, despite the controversy it generates, should also put greater pressure on demand.Finally, inflation in food prices should benefit distributors groups. Because as pointed out by the investor, "you can go without gasoline, but no food."

For the manager of DWS, "there is still much to do." FAO says that "it will produce more food in the coming decades that whatever was produced on the last 10,000 years." Demographic studies estimate that the world population will surge to 9 billion by 2050. In other words, tomorrow. "In the past 40 years, we have not invested enough in the diet, so it was done in copper or iron. It also explains the sharp rise in food prices, "said Ralf Oberbannscheid. Remarks confirmed by the report Cyclops 2011 on commodities."Beyond the economic outlook in the short term, we must hear the message of the market: the world is hungry and we must invest to be able to feed," noted Philippe Chalmin, coordinator of the study.

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