Sitting comfortably above the $ 76 barrel of oil has had a week to rebound. Monday on the New York Mercantile Exchange (Nymex), the light sweet crude for August delivery ended at 76.54 dollars (75.60 dollars in London). "Things have been pretty quiet on the front of the oil market. After all the volatility of last week, investors taking a breather, "and watching Adam Sieminski of Deutsche Bank.

On Tuesday, investors had boosted the morale and the prospects for a decline in crude reserves in the U.S. and the possible formation of a tropical low off the island of Hispaniola (Haiti and the Dominican Republic) . In New York, a barrel to 77.44 dollars has completed while in London he displayed up to 76.44 dollars.Then suddenly bamboo Wednesday: the U.S. Department of Energy announced that gasoline stocks, closely watched during the summer due to extensive travel by car increased by 1.1 million barrels over a week. These distillates (including diesel and heating oil) rose by 3.9 million, twice as anticipated by analysts. The turnaround is not expected on the markets: the barrel of light sweet crude dropped to 76.56 dollars while London Brent clings to 75 dollars.

On Thursday, another change of mood: the price of oil surged by 3.5% in New York while a tropical depression threatens to disrupt the operation of oil facilities in the Gulf of Mexico. The U.S. National Hurricane Center emits a tropical storm warning for the Bahamas and parts of Florida that concentrates approximately 30% of crude production in the United States.The barrel ends at 79.30 dollars in New York and Brent 77.25 dollars in London. Friday, investors marked a pause, which fall to 78.98 dollars a barrel in New York and 77.60 in London.

Chaotic week ended with a gain of 2.98% for WTI and Brent to 1.44%.

The weak dollar boosts gold

The precious metals have been worn all week by a weak dollar. The dollar fell Tuesday to 1.3029 dollars per euro, its lowest level since May 10 In terms of gold, the psychological threshold of $ 1,200 an ounce is not yet valid. While the stock market regains its vigor, the yellow metal lost some its appeal as a safe haven.On the London Bullion Market, an ounce of gold finished at 1190.50 dollars at auction Friday evening.

The money has followed suit, finishing at 18.17 dollars Friday, against 18.25 dollars the previous week.

Platinum and palladium have been a positive week. The platinum price rose Friday to 1,548.75 dollars per ounce, its highest since late June The reason: pressure on supply, particularly in South Africa, the main producer. The country should not review its production is rising while demand continues unabated. In London, an ounce of platinum finish to 1541 dollars on Friday. The deck had also received reassuring news on the state of the automotive sector. The manufacturer Audi announced in particular that, like its competitors, it would be difficult to meet demand from China.

Following the ounce of palladium finished $ 460 dollars against 456 the week before pay day loan no fax.

Renewed confidence for base metals

Fears about the economic recovery would they be erased? This suggests that the evolution of metal prices based on last week. The good response of equity markets in the wake of U.S. companies has cheered the markets. Just as the announcement of a reduction in stocks of copper on the London Metal Exchange. A key barometer of the market, the red metal posted Thursday its highest level for over two months in 7050 dollars per ton.The U.S. Freeport McMoRan, the second largest copper producer in the world, has also contributed to the general euphoria, thinking "optimistic" about prospects for demand with order books "more solidly filled some time ago" .

A voltage supply would also increase beyond the original copper. BHP Billiton recorded in the second quarter, a drop of 5% a year from its copper production, and announced an expected decline of 5 to 10% over the next 12 months of mine production of copper from Escondida (Chile), the largest in the world. However, according to the monthly report of the International Study of copper (ICSG), the demand keeps augmnter. Global consumption of refined copper jumped 5.8% year on year in April.

In the wake of copper, aluminum has increased, supported by fears of a shrinking market.World production fell in June to 3.423 million tonnes against 3.476 in May. Friday, was worth 2038 dollars per ton. Lead, tin, nickel and zinc respectively won 10%, 6.7%, 7.5% and 7.5%.

The weather pushed wheat

Like last week, the weather boosted wheat prices in Chicago. Wheat prices reached their highest level in 13 months Thursday at $ 6.10 a bushel. The sources of concern are found on the side of excessive rainfall in Canada or the ten million hectares of crops destroyed by drought in Russia (20% crop of the country).

The wheat contract expired in September stood at 5.9625 dollars against 5.8725 dollars a bushel a week earlier, an increase of 1.53%.In contrast, the corn contract for December delivery finished at 3.8450 dollars per bushel (-5.59%) while the contract of soybeans mature in November closed at 9.8150 dollars per bushel (- 0.36%).

Note that during the brown bean were down significantly from last week have reached their highest level in 33 years due to suspected distortion of courses by the British fund Armajaro. On Liffe in London, the price of cocoa for September delivery was trading at 2,302 pounds on Friday against 2452 vune week earlier.

Coffee prices have also shown a decrease to 1724 dollars per ton. Sugar prices have instead reached their highest level since March 1, to 18.66 cents a pound in New York.With the approach of Ramadan, August 10, a time when global consumption is increasing significantly, the announcement of monsoon rains 17% lower than normal in India were fears of a drop in supply. On the LIFFE, a tonne of white sugar for October delivery was worth 555 pounds 527 pounds on Friday against the previous week.

The PS group had set the tone early work of the commission, promising to "constantly incidents meeting" with allusions to the case Bettencourt.The operation was supposed to prove that Eric Woerth was too "weak" to defend the reform. It has not achieved its goal, much to the relief of the UMP.

But the majority knows that it is not the end of his sentences. And many of its leaders are beginning to say that "we" had "made a mistake in the text referring to the back, instead of extending the session to push through July 31. "On", Raymond Soubie. The office of the adviser had convinced Elysee Nicolas Sarkozy to let the summer to prove his readiness for dialogue with unions, while Francois Fillon would rather go fast. The Prime Minister has not been heard. An MP close to him sigh: "In the end, unions have the summer to replenish their unity in a climate rotten history Bettencourt.Of course, what happens in Woerth was not foreseeable, but we know that in France the reform was.

One minister argued

In the Assembly, but also in the executive, some whisper Eric Woerth would do well to "shoot himself the consequences of damage it causes" to his political family. Clearly, to resign, but his departure could be in any way be attributed to Nicolas Sarkozy. "The president supports his minister doggedly, and will not do anything that might suggest that he wants to get rid of, explains it to the UMP. But nothing prevents Woerth demand a cease-fire. "

Apparently, the Minister of Labour is not in that frame of mind. Encouraged by the demonstrations of solidarity that come each day of his camp, he makes a point of honor to lead the reform of pensions. The leaders of the majority will therefore help.The delay until September consideration of amendments on the hardship, including those signed by Xavier Bertrand, part of the strategy. In case of back politically and socially turbulent, the government will need room for negotiation.

Even cautious on the stock exchange in Frankfurt, where the DAX index was up 0.20% to 6 077.19 points. However, the side of the London Stock Exchange, the increase was more pronounced: the Footsie index advances 0.66% to 5 167.02 points.

On the macroeconomic front, the meeting was very quiet.The markets have learned before market that current account deficit had settled in France to 4.5 billion euros in May, from 2.9 billion in April, seasonally adjusted data.

The rest of the week will be loaded, the U.S., several interesting publications such as the budget (Tuesday), sales information (Wednesday), registration weekly unemployment (Thursday), or the index of sentiment consumer (Friday).

Caution is also placed on the European stock exchanges should begin when the ball overseas publications.From Monday, Alcoa will launch the festivities with the results of its second quarter.

Zodiac rejects the advances of Saffron: Zodiac leads the DTH

As for values, the supervisory board for Zodiac (7.11% to 42.61 euros) announced Sunday that he would not pursue a business combination proposal made by Safran (-2.62% at 21 , 74 euros).

Alstom (+0.36% at 38.87 euros) was applying for the construction of four stations on the route high-speed rail that will link Jeddah to Mecca, said Sunday the company to Saudi Railways ORS .

Carrefour (+0.12% at 34.63 euros) is to publish its second quarter results on July 15 after the close of trading.Analysts already expect a turnover of 24, 78 billion euros (+5.7%) including 10.29 billion in France (+1.6%) and 5.18 billion (-0.6% ) in hypermarkets.

Cameo (0.62% to 163 euros) announced Friday for the second quarter decreased by 11.3% of its sales, surface and currency comparable because of the lag of a week of dates on balances of June July. The turnover for this period amounted to 190.2 million euros, up 1.1% on published data.

Total (0.27% to 38.4 euros) have launched legal proceedings to challenge the decision of the Court of Appeal of Douai to force him to reopen his site Dunkirk.

The renewed the license comes after a period of uncertainty and a long standoff with the Chinese government, Google is saying exceeded by China's censorship and cyber attacks come from this country.David Drummond, vice president of Google, announced on June 29 last, one day before the expiration of the license for Google in China, as if the license was not renewed, he "cut off all contact with China .

In March, Google had decided not to censor its Chinese site and transfer it to Hong Kong.But last week, Google announced a new "approach" in China, changing its system to stop censoring its search engine, in an effort to meet the demands of Chinese authorities.

China: more than 400 million Internet

Currently, all Internet users in mainland China are headed on a new page of google.cn, a website in China which now has links with the Hong Kong site.

"It was obvious that we should stop to reroute" automatically on the website of Hong Kong, said Google CEO Eric Schmidt was quoted Friday by the Financial Times, before the announcement of the renewal of the operating license in China .

With the renewal of its license, Google will be able to continue to operate on the largest Internet market in the world.China is the largest Internet market in the world with over 400 million users, according to official figures.

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To improve access for audiences to information, the minister will send a letter in September to eight million of housing "simply explaining the scheme and encouraging them to do a simulation" of rights on websites of CNAF or MSA.The application forms for entitlement to the RSA will be simplified by the end of October to make them more understandable. Leaves quarterly reporting resources will be reduced to one page and syringes "on the model of the tax return.

A "checkbook services"

The Minister will also launch in September a committee comprising all stakeholders of the RSA and "to examine the changes made to the mechanism in terms of practices, but also legally."A second referee RSA will also be appointed within each agency employment center to link with their counterparts in the general councils to strengthen coordination between the two institutions.

Good practices to facilitate the payment of the allowance of personal re-employment (APRE) – which aims to take over all or part of the costs incurred by a beneficiary when an activity begins or resumes – will be broadcast on the throughout. A "checkbook services" – composed of good standard in exchange for a service – designed to accompany the resumption of employment will be created."The establishment of this checkbook will be appraised in September and proposed gradually, as needed, to departments wishing to use them," said Marc-Philippe Daubresse.

The government also proposes to organize in each department a day devoted to the development of integration pacts "which in particular define the modalities for coordination of actions undertaken by different actors to promote social and professional integration of beneficiaries the RSA. The first day will be held in December 2010.

"Applications will be redirected by the operators to specialists of the AMF or the supervisory authority," says Madeleine Guidoni, mediator of the AMF.The policeman of the Exchange hopes to meet customer expectations disappointed that their banks do not have better information about the content of such Fund.

Life buoy

"The financial institution has taken to bad habits for marketing of financial products", regrets the AMF Ombudsman Paperless payday loans. With this new service, the regulator should thus be able to better track business practices of banks and better focus the control activities.

After the merger of the bank authorities and insurance giving birth to the supervisory authority, the creation of this service, as required by the economy minister, Christine Lagarde, is like a lifeline to investors, including confidence in financial markets has been severely affected by the numerous cases of fraud or scam.

Called Bank Savings Insurance News Service, is available in a website – www.abs-infoservice.fr – a telephone helpline – 0811901801 – and a postal address – 61 Rue Taitbout, 75009 Paris. The domestic number is available Monday through Friday from 8:00 to 6:00 p.m..

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This type of program has nonetheless increased in the UK, Italy and in many other countries. In the case of the cancer drug Velcade, marketed by Janssen-Cilag Laboratory, the contract goes to the reimbursement of drugs to the UK for each patient whose health is not improving.

In the U.S., Sanofi-Aventis has proposed another novel mechanism to health insurers.If patients who use the drug cons Actonel osteoporosis fracture a bone, the laboratory shall reimburse the costs of fracture care insurers.

France is rather "timid face systems of risk sharing," said Vincent Genet, director of health business of the firm Alcimed. The Economic Committee for Health Products (CEPS) has played the game two or three times. He then granted a high price for drugs, hoping they would be more effective than was thought studies. One program, designed for type 2 diabetes, resulted in failure. Under the agreements, the laboratory (whose name is a closely held secret) then had to repay Social Security.Anyway, "the use of this method should not be necessary if the drugs have been developed properly," says Noel Renaudin, president of CEPS.

Reluctant to bet on the effectiveness of treatment, health authorities prefer to play the Hexagon on the terms of dosage and volumes online pay day loans. In hypertension, where the proper dosage may be unknown initially, and agreements set out in advance the cost of treatment … and provide for rate adjustments if it appears that the doses required are higher is believed ."More than sharing, this is to remove the risk", welcomes Christmas Renaudin.

250 million euros returned by the labs

For highly innovative products that provide a real therapeutic progress, pharmaceutical companies get selling prices relatively high, generally calibrated on prices in Britain and Germany, under certain conditions. They should be consistent with volume commitments. It follows that, if the number of boxes of medicines sold is higher than expected, laboratories pay rebates to Social Security. On average, 250 million euros and are returned annually by laboratories to Social Security.A little more even if we take into account the penalty (53 million last year) that all pharmaceutical companies must pay back if the growth in drug spending is higher than expected validated each year by Parliament.

Practices are changing slowly but surely. Laboratories justify increasingly high prices of their new products by the care savings generated. "These arguments are valid for medical devices, but rarely based on medicines," grade Christmas Renaudin. The CEPS boss finds that "if the antiulcer emptied gastrochirurgie services, they did not generate savings, by dint of being prescribed en masse. CEPS ready yet to give a high price for a drug that has demonstrated, once will not hurt, it reduces significantly the number of hospital days.

Proposals expected in Europe in a few weeks

A desire to succeed which is felt also in Europe.On Wednesday, the President of the Republic, Nicolas Sarkozy and German Chancellor Angela Merkel, have co-signed a letter to José Manuel Barroso, President of the European Commission, urging the agency to "accelerate its work" on "enhanced supervision" of financial markets. They attract attention of the European Commission on the issue of regulation of swaps and CDS. The naked short selling could be banned in the entire European Union.The two leaders also stressed the need for greater transparency in the global markets, that there trading stocks or bonds, sovereign bonds according to their benefit as soon as attention particular.

Proposals of measures could be presented in a few weeks.

A "circuit breaker" on Monday in the U.S.

In the U.S., initial development of markets will be set up incessantly. In its effort regulation of the financial sphere, the system of "circuit breaker" required by the Securities and Exchange Commission (SEC) could indeed come into force next Monday. It provides for a suspension of trade in a way which would fluctuate more than 10% in less than five minutes on the market.With this rule, the Constable of financial markets hoping to avoid the stock market panic like that of May 6.

The SEC is considering extending these fuses, which concern the companies currently listed in the Standard Poor's 500, over a thousand companies.

Any aid to Greece based on bilateral loans of at least 30 billion euros, which would be made at a rate of about 5%.

"For loans up to three years, the rate of special drawing rights (SDR) plus 300 basis points plus 50 basis points of service charge, claimed Friday from European sources.

Under discussion for ten days, the interest rate was a crucial point of the plan, anxiously awaited by investors. Germany insisted that loans be granted to Greece "no subsidy" that is to say, the market price, while France and Italy were ready to make a flower in Greece.

Berlin was right partners, obtaining successful even in the smallest details."A premium of 350 basis points above the SDR rate – the benchmark for the IMF – is the average for the market this week," said Dominique Barbet, head of market research at BNP Paribas. "For a country of the euro area is very expensive," he adds. "But at least Greece is attached to his fate," said the economist.

What interest could she Greece to seek EU aid, if the price of loans is not less than the market? "In the markets, lenders are not obliged to lend, even if the price is attractive: it is all the difference," said Dominique Barbet low rate payday loans.If Greece asks EU aid, she knows she will obtain a price fixed in advance, which will never be below the market price, because the latter will naturally.

Spectrum of banking crisis

For now, Athens has not seen fit to seek the help of the euro area and the IMF, even if the markets will grow, calling for a rate of 7% for loans to ten years, or surcharge of 4% compared to Germany.

Although the markets have calmed down a bit Friday, Greece is at the foot of the wall. It may not only failure refinancing at its next bond issue, but also a banking crisis. Fearing bankruptcy, the Greeks have already withdrawn 10 billion euros of deposits and place them in foreign banks.

On Friday, ratings agency Fitch lowered the debt by two notches to BBB-Greece, citing "budgetary challenges" growing."The sharp rise in interest rates will make it harder for the government to achieve its goal of reducing the budget deficit to 8.7% this year," says the rating agency. Fitch is particularly heard it was the first to degrade Greece December 8, 2009, giving the signal for the Greek financial crisis.

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