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The U.S. stock market was hesitant on Monday. The major indices started in the green, but very clear: the Dow is 0.12% at 10,438 points, the Standard & Poor's 500 and Nasdaq 100 earn them, respectively 0.1% to 1104 points and 0.13 % to 2269 points.

On Friday, the NYSE has ended sharply higher, buoyed by another round of quarterly results from U.S. companies of good quality and were reassured on the results of resistance testing in European banks. The Dow Jones gained 0.99% and the Nasdaq 1.05%. On the whole last week, the Dow Jones gained 3.23% and the Nasdaq rose 4.15%.

On the foreign exchange market, the euro against the dollar adds.At the opening of U.S. markets, it was worth 1.2944 dollars against 1.2906 dollars on Friday night.

Oil prices retreated Monday in the opening exchanges in New York, yielding 86 cents a barrel to 78.12 dollars, while Tropical Storm Bonnie was eventually spared oil facilities in the Gulf of Mexico.

Busy Week Statistics

A busy week on the macroeconomic level. Today sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to figures Official published Monday in Washington.

Another highlight, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions.It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy.

On Tuesday, it is the Standard & Poor's / Case Schiller home prices and consumer confidence, which will be followed, before investors only look the next day on orders of durable goods. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter is expected this week.This new burst of publications should be followed especially when investors are questioning again on the strength of the U.S. economic recovery.

Publications wait

U.S. companies are still likely to take stock in their accounts this week, including the program six companies forming part of Dow Jones. Tomorrow investors expect such figures CIT and Lockheed Martin and those sitting in the middle of DuPont.

To follow today the title of BP traded on Wall Street. The British press refers to a departure from the CEO of BP, before tomorrow, the date of publication of interim results of the oil giant.

IBM: The European Commission has opened two investigations into the group.It suspects the group of computer abuse of dominant position on the markets for servers.

Always on the side of values, General Electric said Friday its increased dividend of 20%, the quarterly dividend from 10 cents to 12 cents. GE also announced a resumption of its share repurchase programs. He had stopped this practice in September 2008. The board gave its approval for an additional $ 11.6 billion. "GE hopes to finish the year with $ 25 billion in cash, including proceeds from the sale of a majority stake in its subsidiary NBC Universal to Comcast" say the analysts at Aurel BGC.Some of this money will be used to buy three billion dollars in preferred shares that the group has sold to the holding company Berkshire Hathaway of Warren Buffett in October 2008.

Also note Friday night, the FDIC, the federal agency whose primary responsibility is to guarantee bank deposits, announced the bankruptcy of six new American banks, bringing to 102 the number of closing establishments since the beginning of year. These six failures will cost about 394 million dollars to its compensation fund the FDIC.

FedEx climbed 4.25% to 82.32 dollars while the group has raised its earnings forecast for the current year. The U.S. giant now aims Messaging earnings per share of between 1.05 and $ 1.25.

Genzyme flies from 5.45% to 65.93 dollars. The group would be the target of several pharmaceutical companies.Sanofi-aventis is about to blow.

The U.S. stock markets recover a bit high on Thursday. The series of results of U.S. companies, some of which have raised their estimates after a strong second quarter, has reassured investors. And even if the new jobless claims have rebounded strongly. In the first exchanges, the Dow Jones gained 1.40% and the Nasdaq is 1.70%.

On Wednesday, the NYSE has dropped cooled by the president's speech to the U.S. central bank, Ben Bernanke. The latter, who was speaking before a parliamentary committee, believes that the economic recovery continues at a pace "slow".

On the foreign exchange market, the euro regained some ground against the dollar after the publication of an index showing that the growth of private activity in the euro area has increased in July.In the morning, the European currency climbed back above $ 1.28, against 1.2757 dollars the previous day.

New series of results

From the values listed, investors will react to a new salvo of published results Wednesday after the close of Wall Street, and Thursday before the market opening.

The manufacturer of components for Qualcomm phones and released after the close of U.S. markets, a profit of $ 767 million for the third quarter of fiscal offset, up 4% over a year and much better than expected. Thanks to "strong demand for 3G technologies," the group also raised its forecast for the year. The title earns 7.41% to 38.85 dollars.

For his part, Starbucks has unveiled a profit of 207.9 million, in line with analysts' expectations.Turnover was up 8.7% to 2.61 billion dollars against 2.56 billion dollars as abandoned attendu.Le 1.35% to 24.92 dollars.

Always on the side of values, the internet auction group eBay has posted a net profit up 26% to 412 million, just above expectations, and revised down slightly its forecast for the whole of year, under the impact of the strengthening dollar. The title gained 4.31% to 21.04 dollars.

The world's largest construction equipment Caterpillar (0.44% 67.18 EUR) posted quarterly profit of $ 1.09 per share, against 85 cents expected by the market. It was in the aftermath raised its forecast for 2010.

The telecoms operator AT & T on Thursday posted a profit than expected and this best expressed more optimism about the prospects of annual growth. The title hesitates between red and green.

The industrial conglomerate 3M on Thursday reported a 43.2% jump in net profit in the second quarter, above expectations because of strong demand from emerging markets. The title gained 3.11% to 84.84 dollars.

UPS (6.55% to 63.94 dollars) still raised its forecast after the publication of a good second quarter. And thanks to the international.

(From our special correspondent in Tokyo)

François Fillon has dropped the word naturally. He who rejects the word rigor in Paris, finally telling the truth in Tokyo. "Of all the state budgets, the only one who is not subject to discipline is that of Higher Education and Research, argues the prime minister, at the turn of a sentence imposed before an audience of five hundred Japanese businessmen and under the approving glance of Christine Lagarde.

True to his outspokenness, the Minister of Economy has not taken greater care to reassure the business community Nippon concerned about turmoil in Europe since the sinking of the Greek economy. "There is not in France, I can assure you of hidden deficits. We have a package of structural deficits, but our accounts are audited very seriously, "warned the owner of Bercy.What has been told to François Fillon not without humor: "Unfortunately, there is no hidden revenue either!"

The European austerity plans discussed at length

He came to Japan to reassure businessmen and Japanese bankers, Francois Fillon has long defended the austerity plans implemented in the euro area. The European currency crisis causes, in fact, Japan concern and uncertainty about the strength of the European Union. The major daily newspaper Nikkei has made his One, two days ago, the 30% decline in investment in the euro countries during the first half of 2010.

"I understand that, seen from Asia, our operations can sometimes be difficult to perceive and understand. But Japan's national interest is not to turn away from the euro, "Francois Fillon urged by recalling that Europe is" the great market of the developed world with 500 million consumers.Incidentally, he ditch tackle the Anglo-Saxon does not deliver, he says, a "balanced view of the success of the European Union" and invited his audience to read the German press and French.

Before leaving Tokyo, Francois Fillon met with his counterpart Naoto Kan. In addition to macroeconomic issues, the two men discussed several issues of the Franco-Japanese: nuclear, automotive and aerospace.Weakened by his recent defeat in the senatorial elections, the center-left prime minister of Japan can not implement as it sees the budget and tax reforms that could reduce Japan's debt, too colossal.

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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.

The retirement of Jean-Louis Beffa has lasted twenty-four hours. The historical pattern of Saint-Gobain – who left Thursday's general meeting president's cap with his dauphin Pierre-Andre de Chalendar – yesterday signed a contract "senior advisor" at Lazard.

As such, Jean-Louis Beffa will in particular industrial experience and knowledge of international markets, including emerging markets, where her counterparts at the head of companies are increasingly likely to want to make mergers and acquisitions .

Change jobs – even if only for one quarter of his time – has clearly seduced Jean-Louis Beffa, however, familiar with the bank to have attended countless presentations in twenty years at Saint-Gobain , much of which led him to make acquisitions pay day loan lenders.

During this period, also primarily by Lazard and BNP Paribas that it was supported. For Lazard, the appointment of a senior advisor of the profile is rather rare. According to the CEO of Lazard France, Bruno Roger, it comes as the bank just full advantage of the success of his model, and its strong presence abroad.

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The name of his new baby is revealed. ExonHit, which raised 15.6 million euros fons last December, had then told him that this money would be used to buy a company in the field of Diagnotic. On Tuesday, the French biotechnology company announces that this is American and her name Redpath Integrated Pathology Inc..

Headquartered in Pittsburgh, Pennsylvania, Redpath has a technology platform based on the DNA that provides information for an individual diagnosis and clinical treatment decision tailored to each patient.

A purchase of $ 32 million

For this first acquisition since its inception in 1997, ExonHit will spend more than $ 32 million, or 24 million euros.The payment will be distributed to 12.5 million dollars in cash (EUR 9.4 million), 10 million shares (7.5 million euros) at the close of the transaction, and from 2012, Redpath's current shareholders will receive up to $ 9.5 million (7.1 million euros) in the form of milestone payments related to the achievement of sales targets.

The acquisition, subject to approval by shareholders of ExonHit, should be completed by mid-July 2010. The company has e equally on the drug market of neurodegenerative diseases and the diagnosis of cancer.

Best Diagnotic Cancer

The analytical tool of Redpath improves diagnostic accuracy in difficult cases where cancer or precancerous conditions can be characterized by conventional pathological examination, explains ExonHit.

The company, which will be part of ExonHit operations in the U.S., markets a molecular diagnostic test for cancer of the pancreas. A second test able to distinguish primary tumors from metastases is being launched.

The company's portfolio also includes two tests in the final stages of development and several programs in early development in the field of oncology.

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What a pleasant surprise! In March, the barometer of the moral frameworks (- 26) has won eight points from February, regaining its 2005 level. "This result is exceptional in scope and that ends the period of depression began in the fall of 2008, is a bundle of factors, both macro and micro," said Francois Miquet-Marty, president of ViaVoice.

Last month, the number of unemployed has increased by "only" 0.1% and the Prime Minister said that the unemployment curve "should be reversed" this year.

In this context, the pessimism fades frames. They are more than 23% against 28% a month earlier, suggests that the number of unemployed would "increase significantly" in the coming months. It's the same for the outlook for living standards. The frames provide a breakdown is no longer the majority (45% against 51% in February).

Occupational mobility

Moreover, two important indicators, as forming part of life, experiencing a frank improvement. Thus, 25% of executives (+ 7 points) believe that opportunities to advance their careers in the coming months "will be important" and 18% (+5 points) than their financial situation "will improve".

Regional elections have also played a role in improving the morale of white-collar. "Their result has reassured the French left's ability to register their camp in a dynamic of conquest of power and those on the right on the determination of the President of the Republic to maintain focus and to pursue reforms, with the exception of the carbon tax, "said Francois Miquet-Marty. Asked about the place and role of higher education, executives claim, massively, more money for it.Eight out of ten consider, in fact, that France "does not invest enough" in this teaching.

On effectiveness, their opinion is also positive. Seven in ten "confidence" in higher education to deliver a broad general education and a narrow majority (52%), they also make it "trust" to prepare young people for the job.

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Vittel has slightly increased its market share last year (5.5%).

Validated but with conditions. The High Council of Audiovisual (CSA) gave Wednesday the green light to buy the TF1 channel NT1 and TMC Group AB. This agreement follows that of the Competition Authority which had a month ago, accepted the operation through three engagements Group Nonce Paolini. The CSA will further since added eight more in the use of competitors TF1, the world production, but also viewers.

The competition authority had initially maintained its requirement to keep the two separate advertising agencies. Then he demanded that the TF1 group does not promote cross between TF1 and TMC and NT1. Similarly, he had no right to broadcast programs and series flow TF1 on more than one of its new small channels.Finally, the bidding for sports law will not affect more than two access channels.

In turn, the CSA imposes requirements more oriented programs. He asked that TMC NT1 and undertake to disseminate their antennas on the production fresh, original and unpublished and does not serve only the powerful shell programs TF1 their big sister.

The CSA also requires NT1 change its prime time now that ranged between 18 and 23 hours instead of between 12 and 24 hours. Concretely this means that NT1 will "make" its quota distribution of original works in French and European in its prime time and not offer daytime, when the hearing is the lowest.Moreover NT1, will make a special effort in innovation programs and development of new talent.

Positive for TF1

In exchange, permission is granted. Titles TF1 rise of 2.73%, to 13.34 euros, the largest increase of the SBF 120.

For Natixis Securities, "in general, if the restrictions imposed by both the Competition Authority that the CSA should limit the possible synergies between 3trois channels, we welcome validation of the CSA as an overall positive should enable the group to set up the first group of channels in France "payday advance online .

Emissions cultural mandatory

Similarly, the CSA requires that the two channels broadcast every day, on average, unpublished programs between 14 and 23 hours.TMC will broadcast 365 hours in a year while NT1 must fulfill a requirement of 456 hours.

Both chains also undertake to broadcast a cultural viewing hours suitable. Finally, it must offer the performing arts. TMC will produce six recordings of performances per year, while NT1 will make 12.

Aware that the audiovisual rights market, this acquisition strengthens the position of the TF1 group, Constable Audiovisual imposes another drastic measure: visual jargon this is a provision for early release of rights, particularly with regard to series and French fiction. Put simply, the TF1 group has no right to prohibit the sale of his works to other channels competing since they were broadcast on its airwaves.This provision is provided for use by producers so that they can enjoy the benefits of a secondary market, as competing small chains of DTT with the financial means are insufficient to afford strong programs.

Finally, the CSA, as his role requires, took into account the interest of viewers. Sacrificing the Food Charter, NT1 must promise to distribute annually 15 hours of programs to promote balanced nutrition and physical activity. But the chain will also have to commit to titrate in 50% of its programs from 2011 to the deaf and hearing impaired while other stations are forced to a maximum of 40% in 2012.

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