International News

The concern comes on Wednesday in U.S. markets. At the close, the Dow Jones, who was sitting in the balance, lost 0.65% at 12,111 points, the Nasdaq 0.67% to loose 2669 points and the S & P was down 0.64% to 1287 points. On Tuesday, the New York Stock Exchange finished sharply higher.

Markets have plunged into the red after the speech of the U.S. central bank. This has lowered its growth forecast for the year and maintained its interest rates near zero.

These announcements were sealed atmosphere. But Wall Street seemed relieved by the vote of confidence of the Greek Parliament in the new government. In fact, last night, the Greek Prime Minister George Papandreou, was full of socialist votes. But despite the vote of that night, Greece remained in a serious situation.The country needs to pass before June 30, the austerity plan that provides savings of 28.4 billion and 50 billion privatization until 2015. On the foreign exchange market, the vote of confidence of the Greek Parliament supports a slight decline in the European currency. At the time of the opening, the single currency was worth 1.4402 dollars against 1.4408 late Tuesday.

In terms of oil, U.S. crude stocks fell more than expected last week, said Wednesday the U.S. Agency for Energy Information (EIA). On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for delivery in August finished at 95.41 dollars, up $ 1.24 from the previous day.

Rain orders for Boeing at Le Bourget

The U.S. aircraft manufacturer Boeing (-2.50% to 72.13 dollars) is particularly surrounding this Wednesday while orders are pouring at Paris Air Show.The U.S. should, however, is exceeded by its European rival Airbus.

Always on the side of values, after the close of Wall Street Adobe Systems (-6.26% to 30.01 dollars) announced a 54% increase in earnings in the second quarter thanks to strong demand for its software, despite a depressed economic conditions. The leading design software has reported a net profit of $ 229.4 million, or 45 cents a share, against 148.6 million (28 cents) a year earlier. Excluding items, earnings per share were 55 cents, while the consensus gave 51 cents.Revenues increased 9% to $ 1.02 billion.

Also in the technology sector, Apple (-0.81% to 322.67 dollars) could launch the new version of the iPhone in September and work on a version of the famous low-cost phone.

The search engine Google (-1.22% to 487.01 dollars) has crossed the symbolic threshold of one billion unique visitors last month. This is the first online service to achieve this level of attendance, according to data collected by comScore. Microsoft sites (-0.46% to 24.65 dollars), however, follow closely with nearly 900,000 unique visitors in May

For his part, Jabil Circuit (3.29% to 19.47 dollars) made from earnings per share in the third quarter of $ 0.58 against $ 0.57 and $ 0.25 expected last year.Turnover reached 4.23 billion dollars against 4.14 billion expected.

U.S. bank JP Morgan (-0.54% to 40.69 dollars) is ordered to pay $ 153.6 million for taking positions against one of its own customers, the fund Magnetar. The Securities and Exchange Commission (SEC), gendarme market, estimates that JPMorgan did not inform his client of positions on a lower mortgage when he invited him to invest. Also note, JP Morgan announced Wednesday the launch of its offer of "prime brokerage" services (investment funds) in Europe.

The shareholders of National Semiconductor (-0.36% to 24.65 dollars) approved the acquisition of Texas Instruments.

Western Union (-1.90% to 19.59 dollars) announced an agreement with Serviban that will allow the launch of an international service PAYMENTS Peru.

In one week the G20 Agriculture, Paris hosts this Thursday and Friday the summit of 120 farmers and agricultural organizations from five continents. A "G120" will bring together 250 delegates at the OECD headquarters to discuss major issues of global agriculture, as the volatility of agricultural commodities and world hunger. "We want to give a voice to farmers around the world before the meeting of Ministers of Agriculture, said Xavier Beulin, first president of the French farmers' union, FNSEA. We have things to say in the fight against price fluctuations, the arrival of hedge funds, or the establishment of intervention stocks … "Specific themes of the G20 member states which represent 85% of world agricultural production . The conference will also open by Nicolas Sarkozy, President of the club of the twenty richest countries in the world.

Several working meetings were held in advance with the French Minister of Agriculture, Bruno Le Maire, and its teams. "The way the Mayor is to meet with as many partners involved in the problems of the G20 in order to reach an agreement," said his entourage. Thus, for the first time NGOs were consulted, as farmers in poorer countries are not part of the G20. A point emphasized by Jean-Cyril Dagorn, head of Oxfam in France. He hailed "the courage of France, who placed at the top of the G20 agenda the issue of agricultural price volatility no fax payday loan."

However, there are mixed on three points. "The preliminary report of the G20 pushed attached the issue of biofuels.However, they help maintain the volatility of agricultural commodities, particularly in the case of ethanol, where 40% of U.S. corn, 15% of world production, are intended for that purpose, "he insists.

Emergency

Another disappointment: the use of stocks only in an emergency to supply the less developed countries, "while they should be viewed as regulatory tools in the markets." Finally Oxfam regret the timidity of the final text on supporting agriculture in developing countries, which is limited to an international research program on the wheat genome. The NGO advocates using small-scale food production, including access to water, land or inputs. After the forum, the G120 looks forward in a joint statement reaffirming the need to strengthen public policies in favor of agriculture."Agriculture is not a production like any other, it must have rules, that is why we do not want to leave the market alone the task of guiding our practices," insists Christiane Lambert, vice President of the FNSEA. On this point, the consensus should be in order.

General mobilization. In just one week the opening of the Salon International Air and Space in Le Bourget, the site was transformed into a gigantic construction site. Some 10,000 people are at work worth tens of trades. An endless stream of 10 000 trucks carries a broom incessant. In six months, "we are building the equivalent of a town of 20,000 inhabitants has the largest restaurant in France. This temporary city for seven days receives 350,000 visitors, "says Gilles Fournier, Director General of Fair which celebrates its 49th edition.

The countdown has begun a year before. The Association of French manufacturers of aerospace and space (Gifas) entrusts its commercial arm, SIAE with l5 permanent organization of the largest airshow in the world – which takes place every two years alternating with the Farnborough event UK.The marketing of 217,000 square meters of exhibition divided between 6 halls (54,000 square meters), cottages business (35 000 sq.m.) and surface static display of aircraft (130 000 sqm) is launched. The team grows in strength and currently has 2500 people.

In January, the entire exhibition space was sold, never seen by Gifas. Exhibition Place, built in 1953, was renovated with an investment of 15 million euros. Meanwhile, the ESIS gives the kickoff of the construction giant. It starts with a shuttle trailers between Le Bourget and Chalons-en-Champagne. This town of Marne welcomes its periphery warehouses rented by SIAE order to repair, maintain and store the 350 cottages. Once conveyed to Le Bourget, they are reassembled on site. Mid-May, the assembly of the equivalent of 2 km cottage is almost completed.

They are willing delivered "naked" to exhibitors who have previously chosen from among several options: with or without terrace, with or without garden, sliding glass doors or not … On average, renting a cottage costs 30 000 euros all related services: water, Wi-Fi, electricity, telecommunications … "The interior design, decoration, catering or direct services are the responsibility of the exhibitor," said Louis Le Portz, Commissioner General of the show. The layout of the chalets, exhibition halls and pavilions begin five to six weeks before June 20 The designers are at work. Tons of carpet, furniture, carpets, curtains, decorative items, tableware, vases, … refrigerators are delivered.

The temperature rises because the clock is ticking. The risks multiply.In conjunction with the Departmental Directorate of Labour, the organizers ensure that companies and their subcontractors comply with French law. No question of allowing Chinese workers to sleep on site and work at night! Checks are also made with security companies and cleaning. Meanwhile, SIAE is recruiting a thousand people. Among them, 500 guards who work day and night to monitor the site, about 400 hosts and 200 cleaners. With staff hired for the occasion by the exhibitors, "there are more than 4000 people are ready to welcome visitors, provide catering services, and keep the premises clean," says Gilles Fournier.

Solar Impulse, guest of honor

Today, the first aircraft entered the air show and exhibition ground will arrive at Le Bourget.Not easy to "park" 150 planes and 20 helicopters but all find their place assigned in advance. This year, large birds are exposed, including two Boeing B 747-8, world premiere, 1 B 787 Dreamliner and the Airbus A 400 M military

With 1.6 T, the Solar Impulse Bertrand Piccard is a featherweight. The experimental solar device is the guest of honor at the fair. The suspense remains, since a series of incidents have forced on Saturday to make a U-turn, while in flight to Le Bourget, and return to its point of departure for Brussels. Its designer, Bertrand Piccard, however, has not given up being present.

The latest up and the ultimate "dirty rag" will take place Sunday. The festival starts tomorrow. A party whose Paris region expects 500 million economic impact.

Gloomy atmosphere at the Paris Bourse. On Wednesday, the benchmark index in Paris ended sharply down 0.88% to 3837.98 points. Either in the 3850 points, a significant technical threshold, which has not happened since March 18 last. Even bad mood: the London Stock Exchange was down 0.95% at 5808.89 points while in Frankfurt the Dax loose 0.61% to 7060.23 points.

On Tuesday, the benchmark index beyond the Paris Bourse had managed to achieve a small rebound. But since the Fed has made comments that disturb operators, already worried by the weak U.S. economy. In a televised speech in Atlanta, its chairman Ben Bernanke said that economic growth across the Atlantic remained "desperately slow" and that it required the maintenance of a "monetary policy complacency."He said that "growth should recover somewhat in the second half, but remain generally moderate. Delivered just before the close of U.S. markets, the speech was the turning Wall Street into the red. And this morning, Asian stock markets also reacted negatively.

Furthermore, growth of the emerging world should rise from 7.3% in 2010 "to about 6.3% annually from 2011-2013," considers the Bank's global economic forecast published in Washington.

French record trade deficit

In this gloomy atmosphere, the markets will monitor several indicators, mainly European.

– In France, the trade deficit set a record high in April to 7.14 billion euros, against 5.91 billion in March, seasonally adjusted data, the Customs said Wednesday.Moreover, the deficit of state budget stood at 61.4 billion euros in late April against 56.2 billion a year earlier, according to data released Wednesday by the Budget Ministry.

– In Germany, exports fell 5.5% in April on a month and imports by 2.5% over the same period, according to preliminary data adjusted for seasonal and calendar published Wednesday by the Federal Statistics Office . Other bad news, industrial production in Germany fell 0.6% in April on a month, its first decline since December, after rising 1.2% in March, said Wednesday the Department of Economics.

– Economic growth of countries in the euro area was well brought up to 0.8% in the first quarter from the previous quarter, Eurostat said.In one year, growth was also confirmed at 2.5%.

– U.S. stocks of crude oil dropped ten times more than expected last week in the U.S., but gasoline inventories rose sharply, according to figures released Wednesday by the U.S. Department of Energy. Then 20 hours, the Fed will deliver the findings of its Beige Book.

Side currency, the euro lost ground against the dollar Wednesday after being around $ 1.47 the day before. To 17 hours in Paris, the single European currency traded at 1.4575 dollars against 1.4688 dollars late Tuesday. Oil prices were, themselves, without direction in electronic trading in Asia in anticipation of an OPEC meeting in Vienna in the day that might decide to increase production.A barrel of light sweet crude for July delivery took 7 cents 99.16 dollars while that of Brent North Sea crude for delivery same retreated 48 cents to 116.30 dollars.

Banks still abused

No value of the CAC 40 is in the green at closing. On the SBF 120, Groupe Eurotunnel rises of 0.88%. The operator of the Channel Tunnel has won the tender launched by the great seaport of Bordeaux to determine the particular conditions of access to the network of railways, said on Tuesday a statement from the group.Saft rises of 0.80%, HSBC rose to overweight on the title.

Back on the Cac 40, Alcatel-Lucent shows the largest decrease: -3.26% to 3.65 euros.

Sanofi Aventis, valued for his defensive forward timidly from 0.17% to 52.33 euros.

Banks are generally downward: Natixis (-2.07% to 3.50 euros), Societe Generale (-1.39% to 39.79 euros) and BNP Paribas (-0.82% to 52.21 euros ) undergo further profit taking.

PPR: -1.67% to 115.15 euros

The group announced it is extending its takeover offer for the American Volcom until June 16

Hermes: +0.08% to 187.80 euros, LVMH: -1.11% to 116.30 euros

The group returns to its highest in October 2010 and outperformed the other lasting values ​​of luxury in favor of speculation about a takeover at the end of the saddle by LVMH, which already owns more than 20% of a group supported by sustained growth .

Schneider Electric: -1.34% to 110.70 euros

The authority of U.S. markets, the SEC filed a complaint for insider trading around the offer of French Schneider Electric on the Spanish Telvent. According to a warning issued Tuesday on the website of the SEC, this crime would have allowed the authors to make a profit of about $ 475,000 in total through the sale of option contracts Telvent acquired before the announcement of massive Schneider's offer.

Renault: -2.20% to 36.72 euros

The decision of the Court of Appeal of Versailles on the possible recognition as an occupational accident suicide in February 2007, Raymond D, employee Technocentre Renault in Guyancourt (Yvelines), is expected Thursday.The suicide of Raymond D was the third employee of the Technocentre in the space of four months between late 2006 and early 2007.

Belvedere: stable at 61.48 euros

After the decision of the Court of Appeal of Dijon, on Tuesday to confirm the cancellation of the safeguard procedure, the band announced that it "remains open to an agreement with its main creditors in the run to finish with a conflict that has lasted too long. "

BioAlliance: + 1.78% to 6.30 euros

The group wants to create a commercial structure for selling online in Europe's orphan drugs in oncology while pursuing its strategy of licensing agreements for its specialty products.

NYSE Euronext: -0.54% to 24.06 euros

NYSE and Deutsche Börse have announced a special dividend of 2 euros per share for shareholders of the combined group

GDF Suez: -0.49% to 24.43 euros

Group CEO, Gerard Mestrallet, warned Tuesday against Montreal seduction exerted excessive public opinion renewables, noting in particular the high cost of wind power."These are intermittent energy sources that will require large reserve capacity, which will be based on natural gas because of the ease of use of gas turbines," he told the International Economic Forum of the Americas.

Total: -0.20% to 38.21 euros

The U.S. manufacturer SunPower solar panels, partial target of a takeover of French Total, raised its forecast Tuesday quarterly revenue but warned that its margins could suffer from falling prices.

Next recommendation, after Exane BNP Paris yesterday, Credit Suisse rose to "outperform" on the title Michelin (-0.14% to 63.70 euros).

Please note that Air France-KLM will unveil its traffic in May after-hours trading. Valeo and Sopra hold their general meetings and Gifi publish the results of its second quarter after market close.

British phlegm is not what it was. Exasperated by American diplomats who refuse to pay the London congestion charge ", the congestion charge in place since 2005 to move or to park in the capital, the conservative mayor of London, Boris Johnson, has decided to directly attack the President Barack Obama.

Taking advantage of his official visit this week in Britain, he decided – not happy with him claiming some 8.7 million euros in arrears – all cars of the procession would pay tax like everyone else. Starting with the Cadillac of Chief of the U.S. state, nicknamed "the Beast" by the Secret Service because of his size and armor that are, according to experts, a real tank on wheels cheap payday advance.Transport for London, the agency responsible for managing the toll, which depends on the mayor, is trying to calculate the bill at the rate of 11.50 euros per day per vehicle.

The Pope, himself, had nothing to pay in September 2010 but says Boris Johnson in the Evening Standard, the roads were closed to other traffic, while this time, they were not . And beware of other heads of state who want to go to London! All diplomatic missions should in fact the tune of 59 million.

What partly explain the irritation of the elect, who has seen the end of March a half-million English between Westminster and Hyde Park to protest against cuts in the government.

The legend tells that one day, during an international summit, Dominique Strauss-Kahn had dropped to Christine Lagarde, a playful tone that one day he was president he would keep at Bercy. Of course the Minister of Economy has always denied this story and more today, then it appears hour after hour as the favorite candidate to succeed DSK.

Officially, she declined comment. But long before the scandal broke DSK, senior officials in his office did not hide their fear to see her leave Paris for Washington prematurely. They know how much she wants this job and especially that it has all the skills to hold: perfect English, love of U.S. knowledge of the workings of monetary negotiations and all the great leaders of this world … Christine Lagarde CV ideal.Moreover, it is sufficient to formally apply for almost be guaranteed to gather in his name all the votes in Europe, both German Chancellor and Minister of Finance appreciate.

But: it has been mired for months in the case that Tapie place under the threat of a lawsuit by the Court of Justice of the Republic. A sword of Damocles that is bad style court when the former IMF chief languishing in jail. Second question, at this stage: Nicolas Sarkozy is willing to let his Economy Minister in new horizons, to a year in the presidency? Nothing is less certain: the Éysée is currently in radio silence mode

It is in six weeks from 1 July that the law on the reorganization of the electricity market is to take effect. In the coming days, the gazettal of orders on prices will end a long series of months.

In this folder to boost competition in the sector, there is more suspense since the government has established conditions for redemption of nuclear electricity from EDF for its rivals: it will be 40 euros per megawatt hour (MWh ) from 1 July and 42 euros from 1 January 2012. A scheme which largely corresponds to the aspirations of EDF: the company, below 42 euros, had discussed the scenario of "looting".In front, the other operators have defended the basis of 35 euros, which are calculated on the current regulated rates.

But now the Regulatory Commission (CRE), Constable of industry practices, offers a different vision, and especially more reasoned, that of government. These, indeed, have given their price scenarios, but without much explanation to the key.

In its decision of May 5 – Le Figaro has procured – the regulator first recall that to make a reasoned opinion on the draft decree, he had to "establish the identification method and cost accounting (…) to reflect the economic conditions of production of nuclear power history. " But this method of calculation, according to the resolution of the CRE leads to a price ranging from 36 to 39 euros per MWh.This estimate is below the repurchase rate set by the government.

Formally, the regulator therefore not permitted under the price of 42 euros per MWh. Certainly, he said that the government wants to anticipate "the investments needed to promoting safety in nuclear power plants," but "these costs are not known to date, and the CRE is not able to appreciate" .

The controller is not alone in discussing the figure of 42 euros. On Monday, the Supreme Council of Energy, which brings together all actors involved in this case, adopted an amendment deeming it inappropriate.This amendment has no impact on law enforcement, but it is indicative of the perception of the situation.

Audits of nuclear

Rather than this threshold of 42 euros, the CRE recommends "that the potential effects on production costs of measures undertaken audits on all French nuclear power are valued only as they materialize in the accounts of EDF and are then fully integrated into the regulated price of access to nuclear power history. "

Is it provided a negative opinion given to the law? In reality, it is rather a surveillance.The controller takes note of any additional expenditure on nuclear power in the wake of the disaster Fukushima, but even if the pass, he prefers to know the exact amounts to be allocated.

Remains to the European Commission, guardian of the reality of opening to competition, to address the issue. "It will certainly ask for accounts in the true sense of the term in government. Similarly, operators will be heard, said one observer. But do not expect a decision very quickly, given the time required. "The start of the new system will be thoroughly examined.

The new prime minister, in power since last March, addresses the problem of unemployment, which remains the black spot in the Irish economy. Enda Kenny has presented on Wednesday a package of measures aimed at creating 100,000 jobs over four years.

The plan provides for reduced charges on low wages, a lower rate of VAT from 13.5% to 9% on some goods and services related to tourism to boost the sector and an increase in infrastructure spending for roads and schools. The government also wants to facilitate the upgrading of the unemployed through training programs.

Since 2008, hundreds of thousands of jobs have been destroyed under the impact of financial crisis, the bursting of the housing bubble, bank failures and austerity plans to repeat that the government had to place to contain soaring deficits and debt.In recent years, the unemployment rate has skyrocketed from 4% in 2007 to 14.7% today. The country is also facing an exodus of the population, especially young people, who try their luck in Canada or Australia. After the tutelage of the IMF and the EU, which granted in November a plan to help 85 billion euros in the country, the government faces a budget deficit of 32% of GDP, provides for a very narrow scope.

Rebound in exports

To finance this plan, Enda Kenny has decided to introduce a new tax – 0.6% – on pension funds, which should bring 470 million euros per year, totaling 1 instant credit report.9 billion euros . This has inevitably raised strong criticism in the profession. Growth side, the latest forecasts predict a return to the green this year, after three years of recession.The main institute in the situation, ESRI, reported Wednesday its forecast, anticipating a rise in GDP of 2% this year and 3% in 2012. A result that is nevertheless perspective, because this new dynamism "based entirely on exports," says ESRI report, given that domestic demand will fall further this year. Knowing that this rebound of external trade is linked to many multinationals operating in Ireland. Moreover, the GNP, which does not take into account their business will only grow 0.5% in 2011, according to ESRI.

Precisely for this reason that the Prime Minister does not intend to compromise with its European partners, who demand a higher rate, very attractive, the corporate tax (currently 12.5%) in exchange for a relaxation of the rescue plan negotiated by his predecessor, Brian Cowen."The Irish have made some overtures in that domain," says one good source, however, the French Ministry of Economy. Negotiations could therefore release in the coming weeks.

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"Ireland is very close to losing his rank of reliable borrower

Finance ministers of the euro area hoping to keep their meeting Friday night at the Chateau de Senningen, Luxembourg, secret. Not a chance. It was stale, in real time by the website of the magazine Der Spiegel, the most famous of Germany, who found a little faster, there was talk of an "exit" of Greece to the euro area. A new contradicted on all sides, which was enough to plunge the euro of 1.30%, to $ 1.43 on Friday night.

If the output of the euro was a rumor "completely fanciful" in the words of Bercy, the financial position of Greece was indeed part of the discussions in the Grand Duchy.A situation so explosive, with a debt of 350 billion euros in early 2011 (150% of GDP), that this appointment did not appear on any official agenda …

Were present in Luxembourg: Jean-Claude Juncker, head of the Eurogroup, which took the initiative of the meeting, Christine Lagarde, Wolfgang Schäuble, Julio Tremonti of Italy, the Greek Finance Minister George Papaconstantinou; Minister Spanish Solgado Elena, the ECB president, Jean-Claude Trichet and European Commissioner for Economic Affairs, Olli Rehn.

"We did not discuss output Greece to the euro! It's a stupid idea! We do not want the euro area explodes! "Insisted Jean-Claude Juncker after the meeting, visibly annoyed. "We also exclude the option of restructuring the heavily cited by the markets," he added."Greece needs a further adjustment program," he insists.

Rejected by France, the ECB, the European Commission and the boss of the Eurogroup, who fear the contagion effect in the euro area (see below), the assumption of a debt restructuring Greek has nevertheless been mentioned, as "mild" a debt rescheduling. But it was not accepted as a reasonable assumption, including the Germans. "This is not the agenda," says Will we in Berlin, even though the Liberals in the coalition are pushing for banks to charge, and, failing to leave Greece in the euro area …

A hole estimated at 30 billion

Leaving aside these two extreme options, there is only one solution: a new financial extension beyond the 110 billion euros of loans already granted by the EU and the IMF to Greece.This amount is insufficient today to cover the financing needs of Greece to June 2013, when the rescue plan will expire today.

To fill a hole estimated at 30 billion euros, before the coming into force the European mechanism of stabilization (TSS), a new form of rescue was considered, in Luxembourg.

According to the Greek finance minister, he would "use the recent European Council decision authorizing the Fund to redeem the debt Greek." This is not Greece which would directly lesmarchés in 2012, as agreed at the first save, but the Fiscal Stabilization Fund (EFSF), which would acquire the newly issued debt by Athens at the height of 25-30000000000 euros. The EFSF, sovereign rated 'AAA' markets, has 440 billion euros of lending capacity.

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"Greece: After Berlin, the ECB suggests a restructuring

In the light of an early meeting smashing, with the Dow Jones up more than 1%, the NYSE closed modestly in the green Friday. The Dow Jone gained 0.43% to 12,638.81 points. The Nasdaq index of technology stocks has taken its share 0.46%, to 2827.56 points.

The mood on Wall Street's opening, driven by the release of employment figures better than expected, has been tarnished by rumors from the euro area. Greece had indeed threatened to leave the eurozone, according to the German magazine Der Spiegel, citing sources close to the German government. A ifnormation quickly rejected by the major European capitals and in Greece itself.

U.S. stocks have opened sharply into the green on Friday, strongly supported by the publication at 14.30 good employment figures for the month of April.The Dow Jones advanced 1.10%, to 12,723.12 points and the Nasdaq by 1.09% to 2845.48 points.

Thursday for the third straight session, Wall Street had ended in retreat, investors are unpleasantly surprised by the rise in weekly jobless claims. The fall in commodity prices had also weighed on Wall Street and on most stock exchanges. Asian markets were down this morning.

Oil, for his part ended in the red, a barrel of light sweet crude for June delivery touching down to 97.18 dollars. In one week, falling 15%. This is the largest decline in weekly percentage terms since the week 19 December 2008 when prices fell by 26.8%.

The commodity index had plunged by 5% Friday, its heaviest correction since the 2008 financial crisis and one of the largest in its history.This violent decline in oil and metals weighs heavily on many sectors like oil and steel or producers.

On the foreign exchange market, the acceleration surprise hiring in the U.S. and the turmoil associated mainly in the euro zone have precipitated the rise of the dollar. After passing during the session under $ 1.45, a first for 10 days, the euro traded at 1.4341 shortly before 22.30, down 1.37%.

Kraft Foods profit down

Values ​​to follow

Kraft Foods 2.91% to 34.36 dollars

No. 2 worldwide agribusiness has announced a profit of 799 million dollars in the first quarter, down from $ 1.8 billion last year. The benefit was then boosted by asset sales. Turnover was up 11% to $ 12.6 billion. Organic growth was 4.5%.For 2011, the Group expects organic growth of 4%, against 5% previously announced, and a total growth between 11 and 13%.

Sara Lee: +0.99% to 19.47 dollars

In the same sector, Sara Lee announced a quarterly profit of $ 153 million, against a loss of 336 million last year due to exceptional items. Turnover was up 6.8% to $ 2.22 billion below the $ 2.23 billion expected. Gross margin was down to 33.2% against 37.6%. The group has raised its selling price by 3% on average and anticipates further increases over the next 6 months.

Visa: 0.58%, to 79.16 dollars

Visa has announced his side a 23% increase in profits in the first quarter to 881 million.Net banking income of 2.2 billion, up 15%, driven by higher payments to international and a positive currency effect of 2%. The main uncertainty for the group focuses on the reform sought by the Fed on the fees charged on payments. The new law could reduce the turnover of the group between 11% and 15% and earnings per share of 20%. In addition, the group announced a new share repurchase program of $ 1 billion.

AIG: 1.36%, to 31.21 dollars

The insurance group has achieved for its first quarter 2011 net income of 269 million dollars against 1.8 billion a year earlier.However, the insurer posted a loss of $ 0.35 per share against earnings per share of $ 2.66 last year following the redemption of shares held by the U.S. Treasury for $ 385 million and the additional cost of 427 million related to the redemption of preference shares.

CF Industries: 5.28% to 136.07 dollars

CF Industries announced for first quarter 2011 net income of $ 282 million after a deficit of 4.4 million last year.

Fluor Corporation: 7.27%, to 70.49 dollars

Fluor Corporation completed the first quarter 2011 net income of $ 140 million against 137 million last year.

Microchip Technology: 1.04%, to 40.96 dollars

Microchip Technology has reported for the fourth quarter of 2010/2011 with a consolidated turnover of 380 million up 37% year on year and net income from continuing operations of $ 131 million, up 72% over the year.

Priceline.com: -1.02% to 528.59 dollars

Priceline.com posted a net profit in the first quarter of $ 137 million, up 57% over one year, earnings per share $ 2.66 $ 2.44 against the dollar and 1.7 expected last year .The turnover amounted to 809 million, an increase of 38.5% over one year.

Public Storage: 0.61%, to 24.80 dollars

Public Storage has announced a net profit in the first quarter of $ 148 million against $ 35 million a year earlier.

Sunoco: 3.44%, to 41.44 dollars

Sunoco recorded a deficit of 101 million dollars in the first quarter against a deficit of 63 million last year. The board of directors also declared a quarterly dividend of $ 0.15 per share.