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U.S. operators could choose to pocket a share of the gains made last week by caution before a salvo of indicators in the coming days. But it was not including the announcement on Tuesday launched by Cisco Systems for a new ultra-powerful router, which mulitiple twelve Internet capabilities.

Towards 20h30 (Paris time), the Dow Jones, Nasdaq 100 and S & P 500 rising erespectivement 0.5% to 10,606 points, from 0.81% to 2351 points from 0.58% to 1145 points.

It was exactly one year, March 9, 2009, the major stock indexes have hit a "low point". Since the S & P 500 has started the largest rally in history. In one year, the U.S. index has increased by almost 70%!

The next U.S. statistics are expected tomorrow with the traditional weekly report on unemployment.Weekly Market in the United States, will then be placed under the sign consumer. The two major economic indicators this week, published Friday, will be the sales details for the month of February and the preliminary estimate of consumer confidence.

Oil prices retreated Tuesday in New York, a barrel of reference giving 38 cents to 81.49 dollars, penalized by the strengthening of the dollar no fax payday advances .

Boeing soars above the market

The values listed, Cisco Systems (-0.24% to 26.07 dollars) today announced a new bid to speed internet connections.Analysts said the group could announce as Google, investments in new broadband network.

Also in the technology sector, the U.S. manufacturer of electronic components, Texas Instruments (-1.33% to $ 24.36) has revised upward its earnings forecast for the first quarter.

In the wake of this news, AT & T, a major customer of Cisco, up from 1.73% to 25.7 dollars, and Apple climbed 2.54% to 224.7 million.

After the withdrawal of EADS and its U.S. partner Northrop's tanker contract to the Pentagon, whose first installment is only valued at 35 billion dollars, Boeing remains alone lice.Les Boeing shares advance of 1.06% to 67.95 dollars and Northrop Grumman back to him, from 0.3% to $ 64.

UAL shares climbed 8.3% after posting profits in February increased by 17% in one year.

In a session marked by a new series of major publications and the summit in Brussels, the CAC 40 should navigate the uncertainty Thursday. On Wednesday, the index in Paris gained 0.63% to 3635 points.

On the macroeconomic front, investors will listen closely to the Extraordinary Summit of Heads of State and Governments of the European Union devoted to the economic crisis and to preserve the European social model. Germany could announce his signing on backup plan for Greece.

Furthermore, INSEE releases its survey of investment in the industry for the month of January.By late morning, the banks have an appointment with the Minister of Economy and Finance, Christine Lagarde, to discuss the credit.

In the United States, figures are expected in retail sales for the month of January, weeks claimed unemployment, inventories and business sales for the month of December.

New series of publciations

After the publication of ArcelorMittal, PSA, Sanofi Aventis and Nexans, a new series is scheduled for Thursday morning: Alcatel-Lucent, Total, EDF, Danone, Renault or Dassault Systems .M6 publish after-hours trade.

Alcatel-Lucent posted a net loss of 524 million euros in 2009 and 2009 sales down 10.8% to 15.1 billion euros.

France Telecom announced it would invest two billion euros in a fiber optic network by 2015 in densely populated areas of France by 2015, thus removing the freeze on spending in this area.

Air France-KLM reported a net loss of 295 million euros in Q3 2009-2010. The operating loss in Q3 reached 245 million and the company expects an operating loss similar to T4.

Property Walls said he expected a new stability of its recurring net profit in 2010 and expected to maintain a dividend to 1.40 euros.

The group acting CRITT announced a decrease of 7.3% of sales in Q4 2009 to 298 million euros.

A shock exceptional in its scope but not its duration. Coface, which examines the risks of outstanding companies, announced Monday at a symposium on the country risk, the end of the credit crisis. While recalling the unprecedented nature of this recession, the worst post-war related to the bankruptcy of Lehman. Between its 2007 peak and the lowest point in 2009, the global economy fell by 6.1 points, two times the oil crisis of the 1980s or the collapse of the dotcom bubble.

"There is a strong correlation between the curve of defaults and that of economic growth, said President Francois David. For six months we see an improvement in creditworthiness of companies. "After rising 19% in the first half of 2009, the total payment incidents has decreased by 40% over the last six months.With this improvement, Coface has revised upwards its ratings, while it had conducted several waves of decommissioning throughout the crisis. Note that unlike traditional agencies, which follow the sovereign debt, the insurance company is only interested in credit risk business. The improvement is true for most industrialized countries. The A2 rating of the United States is no longer under negative watch while France, Germany and Japan, in particular, came under positive watch.

Household debt

But if the bulk of the storm passed, many clouds darken the sky of the recovery. It is primarily the weakness of private demand, which remains constrained by the debt ratio and savings rates, and deterioration of the labor market."The key to growth lies in the particular behavior of the American consumer, accounting for 18% of global GDP," notes Francois David.

Another black spot, the rate of industrial capacity utilization remains limited, especially slowing business investment. "The recovery in 2010 will depend even public spending," says the chief economist at Coface, Yves Zlotowski. With the risk of digging a little more deficits. The situation is particularly alarming for the "pigs" – Portugal, Ireland, Greece and Spain – where the debt has increased the most between 2007 and 2011. "The markets could force them to implement budget cuts, which contribute more to the recession," said Yves Zlotowski. The economist is also concerned about overheating in China and the rebound of stock markets, including commodities, stronger and faster than the real economy.Coface expects global growth in 2010 of 2.7%, driven by emerging markets (5.3%) against 1.4% for developed countries.

This is the highest level since 1990. In total, more than 2.268 million new registrations were recorded in 2009 against 2.050 in 2008 according to figures released Monday by the Committee of French Automobile Manufacturers (CCFA). Sales of new passenger cars rose by 10.7% in raw data in 2009 compared to 2008. December to sign a noteworthy performance. In that month alone, the new car registrations in France rose by 48.6% from December 2008 to 228,451 vehicles. It was the eighth consecutive month of increases.

Regarding manufacturers, the Renault group that makes the best sound of the game's pin registrations totaled 566,240 cars in 2009, up 14.9% over 2008. The Renault brand is up 12.5% over 2008 to 505,521 vehicles.Dacia, the Romanian subsidiary of Renault, which truste third place cars most reliable according to a survey UFC Que Choisir, has gone to 60,719 copies, an increase of 39.5% compared to 2008. For December alone, group sales jumped 94.3%. Bernard Cambier, which argued that these figures before publication in micro BFM on Monday morning was not far short.

In the second place manufacturer, PSA Peugeot Citroën sold 717,485 cars in 2009, up 13.3% over 2008. Peugeot has sold 377,665 models (+9.8%) against 339,820 for Citroën (17.4%). The PSA group sales rose 35.3% in December.

Hyundai is the foreign brand that recorded the strongest growth in 2009: +24.8% to 42 663. Then came Nissan's partner Renault (+20.2% to 45,899 cars) and Ford (+17.8% to 145,066 vehicles).

Scrapping bonus and bonus Green

In a difficult economic environment for the sector, this figure is the unexpected achievement. The area owes its hi in 2009 to support strong measures undertaken at the height of the economic and financial crisis. The automotive sector is crucial for the French economy, then appeared as a major potential victims of the crisis.

The French government had introduced a scrapping bonus of 1,000 euros for the replacement of vehicles over 10 years, as part of its recovery plan of 26 billion euro, introduced in December 2008. The reduction of this premium, which rose from 1,000 to 700 euros on 1 January, said the accelerated rise in registrations recorded at the end of 2009.

This new reacted positively sector securities on the Exchange.Renault signs the strongest increase in the CAC 40: 4.56% at 37, 85 euros, while Peugeot is 1.71% to 24.07 euros.

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"Renault is full of orders for 2010

Scenario "mixed" in 2010, Aurel BCG. For the investment company, next year will look like a year of transition, marked by a gradual normalization of interest rates decided by the central banks, and during which growth must learn to stand on its own wings in freeing themselves from support plans of governments.

Buoyed by forecasts of the International Monetary Fund, which reported a growth in world GDP of 3.9% in 2010 – with Asia as the main engine (+9.5% for China and 7.5 % for India) – Aurel Leven provides that the government plans to continue to support recovery activities, at least the first half of 2010.

For the second half of the year, Aurel precludes any recovery scenario L or W.The broker sees a recovery "classic" of activity, namely a recovery of employment and investment after a dynamic side of the business activity. According to Christian Parisot, Director of Research of Aurel, central banks are "very progressive" back their rates. The broker forecasts indicate a refinancing rate to 1.5% at end 2010, the United States and Europe, 2% in the United Kingdom and 0.3% in Japan."In addition, the movement of recovery will give a boost to international trade," said Christian Parisot at a presentation of his predictions for 2010 in early December.

Go back, go back for more

Financial markets later, Alexander the Drogoff, head of technical analysis at Aurel, displays a degree of caution in the first quarter, "markets should shrink during the first weeks of the year, while stock indexes hit areas strong psychological resistance, "he said at the conference.Between March and December 2009, the European stock indices and U.S. have in effect removed between 40 and 60% of losses incurred between September 2007 and March 2009.

Specifically, Aurel table on a retracement between 930 and 960 points the S & P 500 (approximately -15%) horizon three months, before resuming the path gently rising, reaching timidly 1 200 points at the end of 2010. In Europe, the DJ Stoxx 600, around 250 points in late 2009, is expected between 215 and 220 points in the month of February.

In Paris the CAC 40, which hovers around 3800 points since early December, should yield about 5% in three months horizon for refranchir the 4,000 points in mid-2010 and peak at 4300 points by December 2010. On a year the Parisian flagship index would therefore rise by just over 10%. Same forecast Frankfurt the Dax 30 should clinch a little over 600 points in one year, to 6.400 points.Overall, for 2010, Aurel recommends priority areas of distribution and supply in a context of economic recovery. The chemistry, technology stocks and health are also recommended. In contrast, the automotive sector and the activities of banks and insurance are excluded. (INFOGRAPHY 2?)

The Fed played a very

For Aurel, 2010 should not book too many surprises: a priori, only changes in the communication from the U.S. Federal Reserve (Fed) could induce a violent reaction in the bond market and the dollar, but we believe the tightening of Monetary policy will be smooth, "said Christian Parisot. In contrast, 2011, uncertainties, while the fiscal tightening needed to cope with issues of size: the public accounts.Especially as the interest rate long-term risk of straining the economy recovers – Aurel is 4.2% at twelve months, against 3.3% in Europe today – a much higher cost of debt .

The dollar should, according to the Bureau of analysis, continue to strengthen against major currencies after signs of improvement in the U.S. economy. "Now the dollar is now several months since an indicator of risk aversion," said Christian Parisot, adding that when the dollar appreciates, the fear of risk is increasing and the stock markets are penalized.According to Aurel BCG, the dollar should rise further, to the "pivot area" of 1.4625 dollars per euro, "and why not climb to 1.35 in six months," Alexander Legrodoff omen.

Regarding gold, Aurel anticipates a "zone of turbulence", after an explosive year 2009 when the yellow metal has chained record after record, with a zenith at 1210 dollars an ounce hit in early December. "Considering past trends and technical indicators, the gold price is expected to contract 25 to 30% off at $ 1,000, or return the $ 925 threshold in the coming weeks," Alexander the Drogoff supports.

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For the third consecutive month, the French industrial morale remains very low in December. The synthetic indicator of business climate has stabilized at 89 points, down one point compared to November, INSEE said on Friday. The long period average is 100 points.

Chilling, INSEE noted that "the reversal indicator" sense "to detect the earliest possible time the industrial economy turns around," came "in the area indicating an economic downturn."

Business leaders note much of the sector increased their activity increased and stocks far below their level a long period, but observed a deterioration in their global order books and abroad. Their production forecasts are less good.

"The personal perspectives of production are less well oriented in November.The industrial and anticipate a slight slowdown in the coming months, "notes the INSEE.

The index had rebounded after the spring after a low of 69 points in March.

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The European Commission was investigating since January 2008 on possible abuse of dominant position by Microsoft in Internet browsers. If Brussels is to end its investigation, the U.S. giant had to make heavy concessions, agreeing to provide European users with a choice of internet browser to its Windows operating system, then ships only with browser: Internet Explorer.

The lawsuit, initiated by Opera Software, a competitor of the firm of Steve Ballmer, was motivated illegal competitive advantage that the systematic incorporation of Internet Explorer to Windows would have given Microsoft.

Internet Explorer will suddenly face competition

The latter agreed to five years to propose to all European users in Windows versions XP, Vista and 7 to choose their browser.Firefox, Opera and Chrome, the three major browsers Internet Explorer competitors are rubbing their hands when you know that Windows team 90% of PCs worldwide.

Manufacturers of computers equipped with Windows in factory can also completely disable Internet Explorer and install a competing browser.

Microsoft chose to make concessions, risking a fine that could reach 10% of its annual turnover worldwide, is a mere 6 billion euros in fines.

"Millions of European consumers will benefit from this decision with the choice of browser they use," welcomed the Competition Commissioner Neelie Kroes.

The first group of German steel company, ThyssenKrupp announced Friday the creation of a restructuring plan to scale. Severely hit by the economic crisis that has plunged the global demand for steel, the past fiscal year was the worst in company history, the group had announced last November a loss before tax annual 2.4 billion euros. Excluding items, its loss came out to 734 million euros. So, ThyssenKrupp said Friday that it would cut 20,000 jobs worldwide by the end of September 2010, reducing the number of employees to 167,000.

German steelmaker ThyssenKrupp expects the recovery in global economy to return to the path of growth, but "this fledgling economic recovery remains fragile and we believe that improvement will be slow," said Management Board Chairman Ekkehard Schulz, ThyssenKrupp ."For 2010, the risk of a temporary downturn persists," he said. Given the lack of visibility, the group, which produces steel, submarine or lifts, the coup was adjusted slightly downward Friday its medium-term objectives. It now expects sales of between 50 and 60 billion euros, against a previous target of 60 to 65 billion euros and earnings before taxes "over 4 billion euros, rather than between 4 and 5 billion.

ArcelorMittal, the French rival ThyssenKrupp, has also warned that the recovery in 2010 would be gradual and that the environment remains difficult. This lack of visibility had forced him to deliver a very conservative forecast for the last three months of 2009

It's almost a turn on the wing for Air France. In its medium-haul flights, the airline plans to reduce ticket prices. In return, benefits (such as seat selection or meal on board) currently included in the fare paid and would become available to the card. Such a formula is in fact the companies that used by low-cost airline Ryanair and easyJet (see below). For Air France and for British Airways or Lufthansa, the conclusion is the same: after a thrill-back this summer, the traffic looks bleak this fall. "Summer is traditionally a good period for our business, explains a part of Air France.The key event was the start of September and the results are clearly wrong. "Lowered activity in the three European competitors is for the success of low-cost companies, but also in France, competition from the TGV.

For Air France, British Airways and Lufthansa, the evils are the same: the number of passengers falling and business is back on economy class. This causes a drop in revenue and profit lines. British Airways is the most mistreated because she is very exposed to the Atlantic. The company recorded a 7.9% decrease in the number of premium passengers in September. In turn, the economy class traffic was up 0.7%. British Airways has reached an operating loss of 94 million pounds in the first quarter of fiscal year 2009-2010.To redress the balance, the company has begun downsizing.

At Air France-KLM, income (per seat per kilometer) fell 8.1% in the first quarter of 2009 in economy class and 18.2% in business class. In the first quarter of fiscal 2009-2010, the Franco-Dutch company had a net loss of 426 million euros. For now, analysts expect 850 million loss this year. To pass the turbulence, Air France can rely on its network in Africa, Oceania and the Caribbean. "He who holds the company," said an officer.

Freeze

Lufthansa seems to suffer far less from the crisis. It was at the German company that signs of recovery have been the most tangible this summer with an activity greater than that of the 2008 season.The group relies on a greater presence in Asia and a business alliance – Star Alliance – more comprehensive than SkyTeam (which includes Air France-KLM).

To restart, Air France is therefore preparing the revision of the tender medium-mail. It has also launched its new premium class traveler. Objective: To bring the business to the front of the camera. The company also announced in September a plan for voluntary departures than 1 500 people. The news relieved the unions who feared a major plan. Reportedly, in 2007, an audit at the Boston Consulting Group (BCG) have advocated the abolition of 30% of posts in support functions, that is to say earth, about 10 000 people. "All our social model is based on economic growth, explains a part of Air France. We have 4% growth to begin to reduce our unit costs.This crisis calls into question our development model. "Meanwhile, Lufthansa has frozen hiring since mid-2008, introduced part-time for 3 500 employees. These plans assume a swift economic recovery. So, in France as in Germany, employees are afraid of social plans more consistent if the passengers were slow to return.

"On board the A380 Air France