International News

End of story. For several weeks, negotiations between the seven countries A400M customers and executives of EADS, parent company of Airbus, have punctuated the news. At yet another meeting, in Berlin, a "tentative agreement" was reached, provided the giant European aerospace in a statement.

Customers (Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey) will pay 3.5 billion euros extra. What survival program, which accumulates nearly four years late and reaped 5.2 billion euros of additional costs.

Specifically, they shall have two billion more on the initial price of the contract and provide $ 1.5 billion in exchange for a share of future exports, according to EADS.The original contract must be amended in the "coming weeks".

In addition, it was agreed to accelerate payment of PDP between 2010 and 2014, but no timetable has yet been arrested.

The time for congratulations

EADS considers that this agreement provides a basis "healthy" for a successful evolution of the A400 program M.

The French Minister of Defense Hervé Morin was commended for his share "of the finalization of the negotiations. "This agreement completes the implementation of decisions taken by ministers at the meeting organized at the initiative of France in Le Castellet July 24, 2009, during which the nations have decided to continue this program emblematic of Europe defense, "he said.

In January, EADS said it planned to simply abandon the program, saying while threatening the sustainability of the group.

The Minister then assured that France would "do anything to save" the project. A few days before, the multipurpose aircraft designed to replace the Transall C-160, for example, 45.1 meters long and 14.7 meters high, can Tranporter troops and equipment, had made its third flight.

Profit warning

This agreement is obviously good news. But EADS will pay the piper in recent months. The group was informed on Friday that it will record an operating profit (EBIT) and net earnings were negative in 2009.In case the provision of 1.8 billion euros for the additional costs of A400 million, he announced today in a statement.

"The final figures will be disclosed during the announcement of full results of fiscal 2009 EADS March 9, 2010.

CM-CIC, which was released yesterday, Thursday, a "preview" (a score prediction results), banking on a net income of 60 million euros, while the Bloomberg consensus provided 21 million euros. But these figures do not include the provision because it was not known.

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After a meeting on Tuesday closed at equilibrium, the rings on Wednesday renewed optimism substantial. At closing, the Cac 40 displayed up 0.63% to 3635.61 points. The revival was strongest in mid-session at 1.38%. But inidice flagship Paris has calmed a few minutes from the end of the session.

The atmosphere is the same in Europe, including the London Stock Exchange gaining 0.39% to 5131.99 points, the Frankfurt amount of 0.69% to 5536.37 points.

The prospect of a European plan to help Greece gives investors reason to smile again. Certainly at this stage, "there is no agreement," said a French source on the eve of the Brussels European Council must take a position on the budgetary situation of Athens.

But it is More than a single nation euro zone to avoid giving the green light for the backup plan.Germany, but could make his signature Thursday.

Long live economic news

On the macroeconomic front, industrial production in France fell by 0.1% in January compared to December, while in November it had gained 0.6%, according to figures published by INSEE. For Frédérique Cerisier, economist at BNP Paribas, "the sharp drop in production of transport equipment (-4.7%) reflects not only the decline in automobile production (-2.1%) but also the aviation branch , naval and railway (-7.9%).After the strong rebound in the third quarter, this pause in the recovery of the activity does not mean that recovery is terminated, but it will be gradual and probably struck, she said.

Furthermore, the current account deficit narrowed in France in 2009 to 40.6 billion euros after 44 billion in 2008, thanks to lower energy costs, said Wednesday the Bank of France (BdF) .

Finally, the United States, the trade figures for December are expected on Wednesday afternoon, and the weekly inventory of crude oil and after-hours trade, the figures of budget execution in January. Governor Daniel Tarullo be heard before the Senate Banking Committee on systemic risks.After Hours, president of the Philadelphia Fed will discuss "Lessons from the global financial crisis."

Bad publications are ignored

The publications were many on Tuesday, and just generally reassuring. But the market is not so far achieved.

Arcelor-Mittal (-5.28% to 27.1 euros) recorded a net profit of 118 million dollars for 2009 and 1.07 billion for the fourth quarter guaranteed payday loan . The metallurgist is the red lantern index in Paris.

PSA Peugeot Citroen (-1.97% to 21.87 euros, 2nd largest drop) announced Wednesday a net loss of 1.161 billion euros in 2009 against a net loss of 363 million a year ago, for a turnover 'sales down 10.9% to 48.417 billion euros.Natixis welcomes performance Faurecia and Gefco, but is very Decca automobile.

Sanofi Aventis (1.03% to 53.2 euros) recorded an adjusted net income of 7.8 billion euros in 2009 up 11%.

According to Le Monde, Renault (+0.27% to 33.4 euros) to consider building a plant near Algiers, which produce 50,000 vehicles annually for the local market.

Nexans (-0.86% to 55.32 euros) worldwide leader in the cable industry, has seen its annual profits collapse at 8 million euros, mainly due to restructuring and divestitures of businesses by group, and remains cautious for 2010.

EDF Energies Nouvelles (+4.82% at 35.85 euros) announced Tuesday a net annual increase of 39% and EBITDA up 47%.Gilbert Dupont went to purchase.

Apart from publications, the bank stand on the CAC 40, including Crédit Agricole, headlining, up 4.66%, to 10.85 euros. Axa rises of 4.13% and Societe Generale is 4.41%.

CAC Hors, Havas (6.71% to 3.08 euros, head of the SBF 120) on Tuesday posted a turnover decrease of 4.4% on an organic basis in Q4 2009, to 1441 million 'euros. Unrealized net budgets amounted to 1,270 million euros in 2009. The group has been identified by Goldman Sachs and Nomura.

Medica (+7.92% at 14.03 euros) announces that its IPO was a "success".The French and international institutional, meanwhile, have subscribed for about three times the size of the offer.

Theolia (6.25% to 3.23 euro) has published a turnover increased almost five in 2009 due to the resumption of sales of wind farms by the group.

Ubisoft (-1.72% to 9.66 euros) said Tuesday night "expects to return to profitable growth and a cash from operating activities positive" for the year 2010-11.

Vinci (+1.17% at 38.43 euros) on Tuesday announced acquistion of 89 contracts for parking company Interpark the United States through its U.S. subsidiary LAZ Parking.

Vilmorin (+1.29% at 79.86 euros) issued a turnover up 2.7% in the first half of 2009-2010 and has announced a joint venture in wheat seed in Argentina.

In the wake of their European counterparts, U.S. exchanges have closed the week on a steep decline: the Dow Jones lost 0.96% and the Nasdaq, 1.22%. However, publication of results in the fourth quarter of giant Intel on Thursday night after-hours trading was better than expected. But the JP Morgan Chase established the doubt. The day before the U.S. markets have closed up slightly, despite the disappointing statistics across the Atlantic. The sectors of health and technology have supported the trend.

Earlier Friday morning, Asian stock markets closed broadly in the green. Tokyo The Nikkei ended the session up 0.68% at 10,982.10 points. The Hang Seng in Hong Kong, however, ended down 0.3% to 21,654.16 points as investors still worried about a possible tightening of Chinese monetary policy.

The President's speech yesterday, Obama did not surprise the markets.As announced by the spokesperson of the White House, a proposed tax of fifty largest banks will be presented to Congress in the coming weeks. According to the Financial Times, the U.S. Treasury would press other countries to also adopt a tax on banks.

New wave of statistical significance

The consumer prices in the United States rose by 0.1% in December, bringing inflation over the whole of 2009 to 2.7%, according to figures released Friday by the Labor Department. In the short term, the inflation risk sembre low.

Industrial production in the United States rose in December by 0.6%, as expected by analysts, according to official figures published Friday, but this increase was primarily allowed by having an unusually cold boosted the energy sector.

The technology and banking suffer

Intel sells 3.17% to 20.80 dollars, while the U.S. group confirmed on Thursday evening the resumption of its activities, with net income nearly tenfold in the fourth quarter of 2009, which has reduced to 17% of the decline annual net profit to 4.369 billion dollars. This exceeds the expectations formulated earlier by analysts. "The market has seen a nice rise, everybody expected a good showing from Intel. To some extent it is a classic case of sales at the time of the announcement, "said Owen Fitzpatrick of Deutsche Bank. Even setback for Microsoft (-0.32% to 30.86 dollars), IBM (-0.38% to 131.81 dollars) and Cisco (-2.20% to 24.40 dollars).

Boosted by a return to growth in the fourth quarter, PC sales grew by 5.2% in 2009, according to a study by analyst firm Gartner published yesterday.Acer dethroned Dell (-2.04% to 14.40 U.S. dollars) in second place worldwide.

Even surprise to JP Morgan Chase, which lost 2.26% to 43.68 dollars. The U.S. bank has yet announced having doubled its net profit in 2009 to 11.7 billion dollars. Per share, net income reached 74 cents per share in the fourth quarter, against 62 held by analysts. In the fourth quarter alone, the bank has increased by more than four net profit to 3.3 billion dollars. The bank's CEO, Jamie Dimon, welcomed the news that the bank in late 2009 enjoyed a "very strong capital ratios Tier 1 of 11.1%. But the cost of risk (failure to pay on credit) remains "high". The bank especially in its accounts last quarter to 7.3 billion dollars in reserves to cover these risks.Morgan Stanley lost 2.88% to 30.30 dollars, Goldman Sachs 1.95% to 165.25 dollars, and Bank of America 3.33% to 16.26 dollars.

Citigroup (-2.85% to 3.41 dollars) would be decided by the Financial Times, to cap the bonus at $ 100,000.

Market research firm NPD has revealed sales of video game consoles in the United States for year-end 2009 total, the three major manufacturers have passed 40 million consoles in 2009, including 20 million for the Wii Nintendo, 10 million for the Xbox 360 and 10 million for the PlayStation 3 (PS3) by Sony, thanks to an aggressive policy of lower prices.

In addition, Verizon Communications (-2.05% to 30.58 dollars) will host a conference on its wireless subsidiary, which is partly owned by Vodafone (-1.82% to 22.09 dollars).

Oil retreats, dollar strengthens

Side materials, oil slipped below the 79 dollars a barrel and connects its fifth session lower after the report of the International Atomic Energy: global consumption of oil should rebound by 1.7% in 2010 fully supported by demand from emerging countries and Asia, after falling 1.5% in 2009.

The dollar is strengthening against the euro, which is penalized by the situation in Greece after the publication of inflation. One euro is worth 1.4385 dollars.

The U.S. Treasury will have to wait again. The sale price of shares has been fixed by CITIGROUP, to 3.15 dollars. A figure below the $ 3.25 paid by the U.S. government, when fitted with a capital of the group last year and well below the closing price of 3.45 dollars per share Citigroup Wednesday.

Suffice to say that this news is more embarrassing for the U.S. Treasury had planned to sell up to five billion dollars of securities it owns Citigroup and completely out of the capital within six to twelve months.However, in the context of extending the bailout of banks until October 3, 2010, the U.S. Treasury has decided to extend for 45 days after freeze selling 7.7 billion shares it holds stake in Citigroup.

Citigroup plans to issue 17 billion worth of shares and will raise 3.5 billion extra in the form of securities convertible into shares in deteriorating solvency ratios. If market demand is strong, Citigroup may increase its emissions to 19.55 billion dollars.

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