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This is a severe blow to Samsung and a victory for Apple. This may well be a mere confirmation of a judicial decision made in August, the pill is no less bitter for the Korean manufacturer who is outright ban the marketing of its top shelf, the Galaxy Tab 10.1. It "presents an overall appearance similar" to that of the iPad, according to the German judge seized of the matter.

Such a decision is worrying Samsung that focused on this tablet to boost this market. It means that beyond the patents on technical issues, courts are increasingly sensitive to another argument, visible to the naked eye: the appearance of the product design.The German decision comes two weeks after a Dutch court has taken a similar decision, and while litigation between Samsung and Apple are in the United States, Korea and Australia, where the Apple brand has already achieved a first favorable ruling.

For now, Samsung is still able to sell the Galaxy Tab in other European countries, and do not hesitate to do much advertising best payday advance. The Court of Düsseldorf has finally found not competent to prohibit the marketing of the Galaxy Tab across Europe. Nothing prevents Apple to take legal or other countries. The U.S. has also filed a complaint against Samsung for the same reasons, September 8 in Japan.

This offensive against Samsung, which is otherwise also one of its major suppliers, enabling Apple to establish its supremacy on the market shelves, which he holds from 70 to 80% with both iPad.The Galaxy Tab 10.1 was seen as the most serious rival. By preventing the market, Apple terminated the debate … that takes a different turn on the Internet, with netizens concerned about the relentlessness of Apple, who made his reputation by being the anti hegemony of Microsoft, which builds on present its own hegemony with a lot of trial and eco closed system.

Remain in control at home. Such is the concern of Mark Pincus, founder of Zynga, the leading provider of video games for social networks, such as Farmville, with 232 million active players per month. To retain full authority in his business, despite its forthcoming IPO, Mark Pincus holds a special law, approved by its board of directors. This decision is consistent with her wishes because administrators have been selected by Mark Pincus himself, as his deputy director general John Shappert.

The founder of the start-up in 2007 in San Francisco, won each of its actions has 70 voting rights, according to a company document obtained by Bloomberg.It's better than what was originally planned or what has been practiced for IPO social network LinkedIn for business: 10 votes per share for the co-founders.

Thus, Mark Pincus, holder of 16% stake in his company, he will maintain his authority over every decision. This must still be approved by two-thirds of the shareholders, before September 2.

Then Zynga will take his first steps on the stock market and rising, as envisaged from the beginning of the summer, about one billion dollars. If all goes as planned, its market capitalization should be between 15 and 20 billion. The group would become the company most expensive in the world in video games at Electronic Arts (7 cash advance america.3 billion) and Activision Blizzard (13200000000), controlled by Vivendi.Earlier this year, the company was "valued at $ 5 billion," says an expert from PricewaterhouseCoopers.

Reversal of value

It is a real reversal of the hierarchy: the publisher of games for social networks could surpass traditional publishers of games for consoles and PC. Zynga is very profitable with its free games, such as Farmville, CityVille or MafiaWars, which cost little money to design and generate significant revenue. Proceeds from the start-up, with over 2000 employees, results mainly from the sale of real shadow, like a farm, factory or virtual fruit trees, which help the player to progress in his adventure. This model is thriving, thanks to Facebook as "friends" involved of challenges through simple little game.Therefore, Zynga should display in 2011 a turnover of around $ 1.5 billion, with, the key to a net income close to $ 500 million. In 2010, after three years of existence, the company became profitable, with $ 90.6 million in net profits for a turnover of 597.5 million and cash of close to one billion.

Traditional competitors, Activision Blizzard and Electronic Arts, respectively realized 4.44 billion in revenue and $ 3.58 billion.

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Like the Asian stock market, expected to open the Cac 40 up 1.5% above 3100 points, according to the indices "future" and on Monday in the wake of U.S. indexes rebound on Friday. The main European indices, with the exception of the London Stock Exchange will remain closed on Monday and is expected up 1.1% and 2% on opening. Bank stocks, however, should react to the statements of the owner of the International Monetary Fund.

Friday, after a negative early trading, Wall Street has ended the session on gains of 1.2% for the Dow and the Nasdaq 2.5%, investors focusing on positive ads during the next meeting of the Federal Reserve in September suggested Ben Bernanke at a conference of Jackson Hole.The anticipation of a further intervention by the Fed puts the dollar under pressure against a basket of currencies: the dollar is trading at 1.4537 dollar per euro.

And always in the context of the general economic meeting in Jackson Hole Christine Lagarde urged this weekend to recapitalize banks. She said that the European institutions "need of urgent recapitalization." Former Minister of Finance believes that these measures are the "key to cut the chain of contagion," New blow to the banking sector, weakened already widely during the summer.

Irene reduced cost

Other news of the weekend: the passage of Hurricane Irene passed through New York without drama. He also was demoted to a tropical depression. U.S. markets should open smoothly and Monday.Hurricane Irene would have between 500 million and one billion dollars in damage in the Caribbean and the United States, according to catastrophe modeling firm EQECAT. A figure below the most pessimistic forecasts considered before the hurricane.

Referring to the financial crisis, Laurence Parisot said that "if Europe were attacked, not because it is weak but because it is strong, and if it is envy, because it is enviable, "In an interview with Le Figaro, the boss of bosses denounced a U.S. plot against the euro area.

The price of Brent was down, refineries and oil terminals on the East Coast of the United States seem not to have suffered major damage, easing fears of a supply disruption.In addition, Libya resumes oil exports within a month, according to the spokesman of the Arabian Gulf Oil Company (Agoco), controlled by the rebels. Crude oil production will resume in mid-September on two deposits in the country.

Still on macroeconomic markets will learn on Monday of income and household consumption in the United States in July and promises of home sales.

Banking supervision

As for values, the eyes of investors should focus on bank stocks.

In addition, Ingenico said it had repurchased TNET, an Italian company specializing in payment terminals, for an amount that was not disclosed. According to Ingenico, TNET manages an installed base of 45,000 terminals in Italy.

APRR observe the re-opening until September 9 of the OPR launched by Eiffage and Macquarie.The toll road was also noted Friday that the evolution of traffic early in the second half was mixed for light vehicles, but remained well oriented for heavy vehicles.

In addition, ING has lowered its board to maintain, against buy Arkema on the title and reduced its price target on the value to 55 euros (as against 85 euros).

Canal + could push his plans for the IPO. While the ACC has lost nearly 20% of its value during the summer, analysts are skeptical of an imminent public offerings of media group, reports Les Echos. The listing of the 20% held by Lagardère has already been de-programmed, it could eventually sell its stake in Vivendi, the majority shareholder.

For its part Orange would be in conflict with the American Cogent.The U.S. operator has, according to La Tribune, filed a complaint against his French counterpart to the competition authority for "abuse of dominant position." Orange is accused of preventing users from accessing the site MegaUpload. the conflict began in January when Orange had decided to grant the account drop traffic from Cogent.

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In full the debt crisis, Joe Biden is timely in its largest creditor. The U.S. vice president hopes to strengthen ties with China, where he now starts an Asian tour that will take him then in Mongolia and Japan. This is the first official visit to Beijing the number two in the Obama administration since taking office. It is particularly meet the new generation of leaders, particularly Xi Jinping, tipped to succeed Hu Jintao in 2013, and will seek to reassure his counterparts about the destiny of the world's leading power.

Despite the rants of some official media who had called the United States to "live within their means" and the thrust carried by the rating agency Dagong Chinese, who, too, degraded the U.S. sovereign rating, the central seems to keep his confidence in the economy of the United States, it continues to bear. Between April and June, far from giving his titles like other countries, China has not slowed the pace of its purchases of Treasury bills. And in late June, Beijing held 1.17 trillion dollars of U.S. debt.

Investor confidence in Asia

Despite these reassurances, it is clear that the Middle Kingdom has more top in its bilateral relations with Washington us fast cash. As the world worries about the future U.S. investors place their trust in contrast to Asia, particularly China.Foreign direct investment (FDI) have increased by 19.83% in July compared to the same period in 2010. During the first seven months of the year, the People's Republic attracted 69.19 billion dollars in FDI. The business seems to rely in part on sustained growth, despite the weight on the economy of the tightening of Chinese monetary policy, and partly on a strong yuan. For the Chinese Ministry of Commerce, Beijing enjoys the disaffection of investors in Europe and the United States.

As for U.S. criticism that Joe Biden will take over on the low level of the Chinese currency, they may be blank. The yuan, also considered undervalued Washington, hit record highs Tuesday.The central bank, which sets every morning during a pivot around which the yuan can fluctuate by 0.5% above or below, identified Tuesday as the low point, the level of one dollar for 6.3925. In other words, the Chinese currency has appreciated by 7% since dropping the dollar in June 2010. But some investors are betting on the inflationary pressure to force Beijing to let its currency move more.

Buoyed by the announcement of a burst of mergers and acquisitions, Wall Street on Monday confirmed the rebound that started in last weekend. In limited volumes, it will erase all its losses from last week. All indices end in green: the Dow ends up sharply from 1.87% to 11,479.65 points. The index had opened up 0.48% to 11,323.44 points and continued to grow during the session. The Nasdaq index also closed with a gain of 1.87% to 2554.79 points.

Markets reacted to a volley of announcements of mergers and acquisitions. First, Google (-1.16% to 557.23 dollars) has announced the acquisition of the mobile phone manufacturer Motorola Mobility (55.78% to 38.12 dollars) to $ 12.5 billion in cash.Time Warner (-0.81% to 64.98 dollars), meanwhile, reached an agreement to buy the cable operator Insight Communications to Carlyle for $ 3 billion. Finally, Cargill will acquire the French specialist in animal feed Provimi to 1.5 billion euros.

As in Europe, investors are upbeat on the eve of an important meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel on the reform of the governance of the euro area. They should discuss ways to implement to prevent contagion problems of sovereign debt to the rest of the region.

But Germany has already warned investors: this meeting will lead to "nothing spectacular"."It will be a working meeting on the governance of the euro area in line with European decisions taken in late July," said the spokesman of the Ministry of Finance. The latter also confirmed the skepticism German, joined by France, in respect of Eurobonds. These ads have already resulted in demoralizing the European investors.

In Asia, the announcement of a contraction much weaker than expected Japanese GDP has also reassured the markets.

Morale builders stable

The statistics published on Monday in the U.S. are, however, bleak. Manufacturing activity in the New York area declined for the third consecutive month at -7.7, 3.9 points lower than in July.

In real estate, the NAHB index released on Monday shows that the morale of the manufacturers was unchanged in August, close to its lowest historical levels.

Note that the currency market, the euro strengthened against the greenback at 1.444 dollar. Oil markets, oil prices closed up in New York. A barrel of "light sweet crude" for September delivery was trading at 87.88 dollars, up 2.50 dollar. Prices had fallen during the European trading, erasing their gains made in Asian trade in a market nervous and still haunted by persistent concerns about global growth and the debt crisis in the eurozone.A barrel of Brent North Sea crude for September delivery was trading at 107.56 dollars on the Intercontinental Exchange (ICE) in London, down 47 cents from Friday's close.

Google swallows Motorola Mobility

On the corporate side, Bank of America (7.93% to 7.76 dollars) has announced the sale of its activities in the international credit cards in Britain, Ireland or Canada.

The food distributor Sysco (-3.93% to 28.11 dollars) announced earnings per share (EPS), diluted to 57 cents under its fourth quarter, diluted EPS of $ 1.96 for all of its financial year, while its quarterly sales reached $ 10.4 billion.

Estee Lauder fell 6.64% to 94.15 dollars.Despite the publication of a net income group share record of $ 700.8 million, up 46.5%, the cosmetics group announced its annual results would be below Wall Street expectations.

Lowe (0.82% to 19.58 dollars) has already reported sales below expectations in the second quarter of its fiscal year and lowered its annual targets for the second time in three months, consumers pushing their development projects until later because of sluggish growth.

Boeing (1.54% to 62.70 dollars) announced it had completed with Air Lease Corp. an order valued at $ 2.5 billion on 14 737-800 aircraft and five 777-300ER.

Pfizer (2.69% to 18.34 dollars) announced Monday it had won before a U.S. court case against Teva Pharmaceutical Industries of Israel, preventing the global generics to produce a copy of Viagra before 2019 .

Transocean (2.97% to 57.26 dollars), listed in New York, wants to buy the Norwegian group Aker Drilling, for a total of 1.1 billion Swiss francs (1 billion), according to a statement Monday. Several large shareholders, representing 65% of the capital, have agreed to the deal, said the Swiss.

The American specialist craft materials Grainger (2.01% to 138.57 dollars) on Monday announced the acquisition of the Dutch distributor of fasteners Fabory Group for $ 344 million (242 million).

In the wake of the Asian stock markets, down sharply this morning despite a slight improvement at the end, the financial center of Paris has long been reluctant to choose how to behave on Tuesday … In response to fears about economic recovery and the financial situation of countries The Paris index has been a roller coaster since the opening, from an initial technical rebound (2%), a new panic attacks (-3.08%) in the morning and a recovery in midday (0.82% to 3150.70 points). The Paris index is even pressed for less than a minute to below 3000 points, a threshold that had not crossed since July 13, 2009. Finally, the Cac 40 shows a gain of 1.63% to 3176.19 points, ending at eleven consecutive sessions of declines.

Volumes were again extremely high (nearly 7 billion euros), all displaying European stock exchanges by mid-day trading levels higher than their usual daily average.

The recovery technique recorded by Paris is divided into Europe: London won 1.89%, 2.80% Brussels, Amsterdam, 1.30%, Milan (0.52%) 0.60% and Brussels. Conversely, the Dax in Frankfurt (-0.10%) and Madrid (-0.04%) remained in the red

Pic of volatility

This new session, which was a bit of all the dangers Monday after a black market, was held in extreme nervousness. With a drop of 18% of the index in Paris in eleven sessions, the Cac 40 was defeated Monday again his record consecutive bearish sessions.In addition, the volatility (the highest for two and a half years as the VIX (16.7%), shows that investors are not convinced by measures taken in Europe and the United States for fiscal consolidation and boost growth.

Even the 2 billion euros pledged by the European Central Bank (ECB) on Monday to buy back bonds in Italy and Spain, have yielded only very temporarily a little breath on the markets. According to a consensus of managers interviewed by Reuters, the institution should indeed buy at least 100 billion of sovereign debt in Spain and Italy to strengthen the euro area and reduce the pressure on the markets.However, the relaxation on the 10-year rates of the two countries is continuing this morning, those of Spain from below 5%, while those in Italy were approaching that threshold.

Moreover, the lack of effect on the markets of the intervention of U.S. President Barack Obama shows that political speech has no impact on investors, beyond the break-off. This has not prevented the U.S. Treasury Secretary Timothy Geithner, to find that governments and central banks, have "largely on the margin" to address the crisis.European side, the statements are also increasing, Jean-Claude Trichet, ECB president, on Tuesday called on governments to "do their job" and put in place as soon as possible bailout of Greece, adopted on 21 July.

Policy responses are not sufficient to calm the

Is it possible? Hard to say, as investor psychology seems to look for a disability policy to find new tools to address the current crisis. For two weeks, no action relieves durablementles markets and break the vicious circle in which is immersed the Paris index.From this point of view, no new ones are expected at the meeting on the macroeconomic front.

The eyes are still turned to the United States, where the Monetary Policy Committee of the U.S. Federal Reserve (Fed) will hold a highly anticipated meeting this afternoon to decide on measures against the risk of a further slowdown in growth. The conclusions of this meeting, however, should not be made public until 20:15, Paris time, and will therefore not affect the European markets.

In this dark period, is good news also came on the morning of the Budget Ministry, which reported just before a stock market stabilization French public deficit at the end of June, to 61.3 billion euros.

Moreover, according to figures released this afternoon by INSEE, the price of oil in dollars recovered in July (+2.3%) after declining by 1% in JuneThe price of imported industrial raw materials has, too, bounced: 1.9% in July, against 0.2% a month earlier. Same trend for raw food (+1.0% after -0.8%).

For its part, the Organization of Petroleum Exporting Countries (OPEC) also lowered its demand forecasts for 2011. In its monthly report published on Tuesday, the organization expects a demand for crude to 88.14 million barrels per day (bpd), against 88.18 million bpd set before.

The barrel still under pressure

The report is closely watched, the price of oil is very strong pressure for 15 days under the effect of the downward revision of demand forecasts. A decline which continued Tuesday, but less than the opening.In electronic trading in Asia, the "light sweet crude" for dropped below 80 dollars (78.92 dollars in mid-day) while the barrel of Brent crude down $ 100 for the floor, then back to 101.04 dollars.

As for the exchange, finally, the single European currency regained color against the greenback until the Fed meeting tonight, the euro climbed to 1.4234 dollars at 8 o'clock, against 1.4179 late Monday. Note that the face of these uncertainties, gold enjoys full status as a safe haven, record after record signing. The ounce finished on a further rise Tuesday in Hong Kong dollars to 1753.50, after hitting a new record for the session at 1772.09 dollars.

Side analysts, speeches remain cautious, noting that "the large volumes show that we are not in a sluggish market, typical of the holiday, but in a situation of significant liquidations of positions, as and when traders' confidence evaporates, "according to Jonathan Sudaria Capital Spreads.

The side of values ​​to follow:

Financials bounce (BNP Paribas takes 0.06% to 39.33 euros, Societe Generale advance of 3.54% to 26.01 euros and Credit Agricole gleans 1.94% to 6.88 euros). Natixis (+2% to 2.95 euros) goes back more vigorously the slope, as Axa (2.23 to 11.23 euros).Faced with the sharp fall in equity markets, the Financial Markets Authority (AMF) did not consider it unnecessary at this stage to ban short selling in these securities, said Monday a spokesman for the regulator stock.

Alcatel-Lucent (9.22% to 2.42) shows the largest increase in the ACC after losing 31.5% over the past two weeks.

GDF Suez (1.01% to 20.02 euros). the group has reached an agreement with the Chinese sovereign wealth fund CIC. Beijing will take a pole in its exploration and production investments and participate in the French group in Asia Pacific, told Reuters on Monday sources familiar with the matter.

Archos (- 5.50% to 6.87 euros). The specialist tablets unveiled Monday a net profit after market semi-annual 1.7 million euros against a loss a year earlier.The group also confirmed its objective of a gross margin above 20% for the full year.

Euro Disney (12.68% to 5.60 euros) reported, shortly before the opening of the Exchange, an increase of 7% of its quarterly revenue (T3), to 344 million euros and announced an increase in spending per visitor.

Red Cedar rising from the ashes. The brand furniture and decorating high-end look forward to sign this year a profitable year, after reaching the balance last year. "Our sales have increased sixfold, from 1 to 6 million euros in 2010. We expect a turnover of 8-9000000 euros this year, "said CEO Henry the Minstrel. A great success because, in its heyday in the early 2000s, Red Cedar posted sales barely higher (12 million euros in 2001). And by exploiting ten stores, not two, like today.

The company suffered a severe weight loss, following its failed merger with Le Prince Jardinier in 2006.When Henri Le Menestrel, accompanied by the fund Nextstage already present in the capital (20% today), took over the business in late 2008, the group "was making a million sales and a million casualties," recalls it. He who had just sell its media agency online Lagardère decided to open a shop for a new genre, while preserving the historical site at Châtelet and the brand, much appreciated. "We have broken the codes of high-end furniture, installing Red Cedar Feucherolles end of 2009, twenty minutes drive from the Porte d'Auteuil, in the fields," says its CEO. Having seen that "unlike the fashion industry, the decoration brands have never built their own store and are difficult," he wants a "multi-specialist" and exposes the Fermob chairs, sofas and Marie's Corner sunshades in the "dedicated showrooms."

The project won: true destination of family visits on weekends, the store was expanded this summer, for the fourth time, from 700 square meters two years ago in late September 4200. Besides the fifty brands presented, the brands of Red Cedar – tables and mailboxes with Christmas decorations – there are still very place. "With little marks in furniture and decorating high-end customers need to compare really to understand the quality factors and to choose the range that suits them," said Henri Le Menestrel.

Seize opportunities

Same strategy to the shop on the Internet, including a new version has just been put online: the user can learn and even to shop, but it is especially encouraged to move Feucherolles.For if the sign already generates 10% of its sales on the Internet, she wants to see progress especially the number of visitors.

"We feared that the store does Châtelet suffers from the rise of that of Feucherolles, but the opposite is true!", Says the CEO. These good results may prompt Red Cedar to relocate in town to present, for example, one or more product categories in smaller areas. It is precisely to capture "many and varied opportunities" of this type, but also small acquisitions like that of a small specialist light in early 2009, as Nextstage invest in the fall about 2.5 million. A larger amount than in 2008 (1.5 million), a sign of his confidence and that will advance the participation of the fund to 30%.

Thursday milestone for the general construction equipment from France in optical fiber, the network of the future which must provide high-speed Internet to homes and replace the old telephone network today. France Telecom offers to all competitors who wish to offer access to its future fiber optic network in sparsely populated areas, with the possibility of co-financing. He has published Tuesday offers a very detailed in this direction. And it seems to do so fair play as Free immediately signed a co-financing rates ruling "economically reasonable".

After roaming agreement on 3G mobile, the partnership of the fiber is the second major agreement signed between France Telecom and Free in the space of a few months. But the incumbent would also be discussion of the fiber with SFR and Bouygues Telecom.This agreement will give a boost to fiber deployment in France, whose government is a priority. "What are the different actors as their strength together and avoid a dispersion of investment is really a giant step, which launches the real start of the top fiber," said Pierre Louette, secretary general of France Telecom.

If the number of Internet subscribers high-speed barely reaches 150 000 in late June, Nicolas Sarkozy has set a target coverage of 100% of the country with broadband by 2020. In the heart of major cities, very densely populated areas and therefore profitable, Orange, SFR and Free deploy each with its own fiber network. But the issue is acute in areas less dense. France Telecom's offer and provide an initial response to the many local officials who want high-speed on their territory.

Sixty cities

In concrete terms, with the agreement signed between France Telecom and Free the cities of Dijon, Brest, Reims, Le Havre, the community of loops of the Seine around Chatou near Paris, some sixty in total, representing 1,300 Public and 5 million homes will be equipped from 2011 to 2012. France Telecom will deploy its network and will own in the end. But competitors can participate in the financing and get strong trading network usage. "It's very flexible. Our competitors can buy access rights for every 5%. They are true indefeasible rights of use, kind of very long-term concessions, renewable, and can assimilate into their investment accounts, "said Yves Parfait, program director at France Telecom fiber.Since France Telecom agrees to work with its competitors, exit the idea of ​​a centralized national structure "Fibre France" imagined by some. "This fantasy of a national operator vanishes," said Pierre Louette.

The agreement validates the framework established by the regulator (Arcep) and meet in Brussels considered it too little binding. "The framework adopted in France is good, since it works, that France Telecom did what was expected of her and it avoids wasting public money," says Pierre Louette.

In total, France Telecom will invest 2 billion euros by 2015 in deploying fiber. It has covered 3600 and communes, 3440 outside the areas dense. It aims to cover 10 million households in 2015 and 15 million in 2020, nearly 60% of French households.

As seen in Europe with a market recovery, the New York Stock Exchange opened up, boosted by a salvo of large U.S. companies results, mostly better than expected: the Dow Jones gained 0.56% and the Nasdaq 1 , 00%. By 1330 GMT, the Dow Jones Industrial Average garnering 69.67 points to 12,454.83 points and the Nasdaq, dominated by technology, to 2792.75 points 27.64 points. On Monday, the New York Stock Exchange finished down.

Investors are increasingly anxious about the lack of progress on issues of public debt, both in the United States and euro area. Caution should remain in force on Tuesday, while discussions continue on the debt in the U.S.. Democrats and Republicans fail to agree on raising the debt ceiling of the United States, despite calls for unity of President Barack Obama.Not surprisingly, Fitch Ratings has again threatened yesterday to place the note from the U.S. sovereign debt under review with negative implications if no agreement was reached on the issue.

In Europe, investors have not been convinced by the results of stress tests in Europe. They are now waiting for the meeting of Heads of States of the euro zone on Thursday to take stock of sovereign debt problems plaguing Europe. Greece and its possible failure to pay would lead the discussions.

Sign of the nervousness and uncertainty room, the price of gold, still flies from record to record. The yellow metal has risen this morning to more than 1610 dollars an ounce, down the day after the symbolic threshold of $ 1600.

The euro is rising against the dollar Tuesday, but traders remain cautious.Around 1300 GMT (1500 Paris), the single European currency traded at 1.4189 dollars against 1.4117 dollars around 2100 GMT Monday. The euro rose against the Japanese currency to 112.10 yen against 111.59 yen Monday. The dollar stabilized against the yen at 78.99 yen against 79.02 yen Monday.

Oil prices rebound sharply at the opening of the market in New York, trying to recover losses recorded the previous day against a backdrop of serious concerns about the economic consequences of debt problems in Europe and the United States. Around 1:15 p.m. GMT on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for August delivery traded at 97.53 dollars, up 1.60 dollars compared to the previous day. "These are discussions that take place within a limited range," commented Rich Ilczyszyn, Lind-Waldock.Le barrel had dropped $ 1.31 Monday.

On the macroeconomic front, investors will be watching especially housing starts and building permits in the United States. Two statistics that mark once.

Values ​​to follow

The side of values, after the close of Wall Street, several major groups have announced their quarterly results.

Pleasant surprise on the side of IBM rose 8% of its profits in the second quarter to 3.66 billion. The adjusted earnings per share was 3.09 dollars against 3.02 dollars expected by analysts. Turnover was up 12% to $ 26.7 billion against $ 25.4 billion expected. Please note, sales of servers rose 17% year on year to 4.7 billion. For the full year, IBM raised its forecast for earnings per share to 13.25 dollars against 13.15 dollars earlier. The title earns 3.01% to 180.55 dollars.

Always on the side of values, Cisco confirmed the elimination of 6,500 jobs to reduce production costs. The group is facing stiff competition, especially from China, the market for Internet routers. Price reductions are higher expectations. According to IDC, Cisco, which holds 64% market share, experienced a contraction of 16% of its sales of routers in value in the first quarter. The title earns 1.14% to 15.62 dollars.

In addition, the producer of fertilizer Mosaica announced a profit of 649.2 million dollars above expectations of analysts. Turnover was up 54% to $ 2.86 billion and also higher than expectations.Farmers' demand remains strong, particularly in wheat, and weather conditions have supported the group's sales.

For its part, the steel producer, Steel Dynamics (3.69% to $ 16) announced a profit of $ 98.7 million and a turnover of 2.08 billion, both higher expectations.

Also note, MSC Industrial Direct (0.72% to 65.84 dolars) has announced the acquisition of American Tool Supply and its subsidiary American Specialty Grinding without specifying the amount of the transaction.

According to the Financial Times, the fourth group HNA Group Air China would be the favorite to take over the subsidiary of General Electric GE SeaCo.

Moreover, according to Bloomberg AMR Corp (-0.61% to 4.88 dollars), the parent of American Airlines, could be divided between Airbus and Boeing single-aisle aircraft order it plans to spend.American Airlines is negotiating with manufacturers for the purchase of more than 250 aircraft.

The American insurance company AIG (0.83% to 27.88 dollars) study the stock market into a stake in its subsidiary, ILFC aircraft leasing, operation that could bring him back from 1.5 to 2 billion, reports the Wall Street Journal Monday.

European banks may need to raise 80 billion euros, to reassure the markets. A report by JPMorgan Cazenove, led by analyst Kian Abouhossein, estimates that if the level of reserve requirements is strictly adhered to 7%, nearly two banks will raise new money. French banks Societe Generale, BNP Paribas and Credit Agricole would need twenty billion euros, against 25 billion for UK institutions and 14 billion euros for German lenders, including Deutsche Bank. The Italian UniCredit, Credit Suisse and Santander are also cited in the report by JPMorgan Cazenove.

This study revealed the results of stress tests published last Friday by the EBA.These tests, built on capital requirements as 5%, entered into a need to refinance 2.5 billion euros for eight of the 90 banks assessed, including any French. But investors believe these tests inadequate, particularly criticizing for not sufficiently taken into account the default risk in Greece. JPMorgan Cazenove said the criticism in his study, indicating that these stress tests have "limited value".

The evolution of banking stocks on European stock markets will be very observed on Monday morning to find Investors Arbitration between the reassuring results of stress tests and numerical study of JPMorgan. In March, ratings agency Standard & Poor's had conducted its own tests of resistance.His conclusion: European banks would need 250 billion euros of additional capital.

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