International News

The economic crisis might be generally complete, the stigmas are still widely felt. Witness the annual results of the European Investment Bank (EIB) published on Tuesday. The institution responsible for European development fund has lent 72 billion euros in 2010. A decline in sales compared to 79 billion given in 2009, but still very high compared to normal year loans by the EIB, rather close to 50 billion on average.

"The exceptional effort asked the EIB to support the European economy should be temporary, says Philip Maystadt, its president. This is the explanation of early return to normal volume of our loans. "Proof that this mission is completed, the bank expects to lend around 65 billion euros more in 2011.Also, 6 billion will be released between 2011 and 2013 in nine Mediterranean countries: Algeria, Tunisia, Morocco, Egypt, Jordan, Israel, Syria, Lebanon and the Palestinian territories.

Received, two on two! Wednesday after Portugal, Spain and Italy have passed their test in the financial markets Thursday. The only problem is that the two countries have conducted such operations in interest rates sharply higher: 4.542% for Spain (against 3.387% in the previous issue) and 3.67% for Italy ( against 3.24%).

As a result, the CAC 40 moved closer still just over 4,000 points at 3974.83 points exactly. The index in Paris Will it ended the week by breaking the psychological barrier? It would take an increase in the CAC 40 0.63% reach the milestone. Nothing is less certain, after Wall Street finished Thursday down slightly disappointed by the increase in weekly jobless claims.

And especially after the International Monetary Fund (IMF) has urged caution after the success of these bond issues.The IMF considers that Europe is still struggling to reassure investors.

Trading volumes higher

At the opening, the CAC 40 index opened slightly lower Friday morning: -0.34% to 3961.04 points. At the London Stock Exchange, the FTSE-100 fell by 0.11% to 6017.25 points, the Frankfurt Stock Exchange, the DAX 30 lost 0.28% to 7055.42 points.

Amidst all these economic uncertainties, there are still signs of hope: the trade volumes have returned to normal levels even higher. Thursday, 4.8 billion euros were traded and 4.2 billion on Wednesday.

On the macroeconomic front, are scheduled:

In France:

– The benchmark index reached 119.17 in rents in the fourth quarter of 2010, according to figures released Friday by the INSEE.In one year, increases of 1.45%.

In Europe:

– Sales of new cars fell 5.5% in 2010 in the EU compared to the previous year at 13.36 million cars.

– Foreign trade in November (11:00) and the second estimate of inflation in December (11:00) in the euro area

United States:

– Inflation in December (14.30)

– Retail sales in December (14.30)

– Industrial production in December (15.15)

– The first estimate of the index of consumer confidence from the University of Michigan in January (3:55 p.m.)

– Inventories and business sales in November (16 hours)

On the currency markets, the euro fell back against the yen at 1110.39 (-0.1%), and continued its momentum against the dollar at 1.3372 (+0.18%).

Carrefour confirms its objectives

Carrefour: 1.99% to 34.06 euros

Carrefour on Thursday confirmed its objective of operating income during 2010. The group last year recorded a growth of 5.8% of its sales to current exchange rates, thanks to the good performance of emerging countries payday loan.

Technip: 1.54% to 74.97 euros

Technip announced Friday it had won a contract from Chevron for the field development Jack and St. Malo, located in a water depth of approximately 2100 meters in the Walker Ridge area in the Gulf of Mexico.

Accor: 0.98% to 35.45 euros

Accor announced the sale of the walls of 49 hotels in France, Belgium and Germany to a consortium of Predica, Crédit Agricole subsidiary of Insurance (80%), and Land Walls (20%), amounting total of 378.4 million euros.

Renault: +0.40% at 48.44 euros

The complaint against X Thursday by Renault industrial espionage which he says victim is a foreign corporation, said the Paris prosecutor.

For his part, Peugeot climbed 1.38% to 32.32 euros, despite the decline of 5.5% of new car registrations in the European Union last year.

Intel's results boost values computer

After the good results on Thursday from Intel, the computer values show the largest increases in the CAC 40: Cap Gemini rises from 1.43% to 36.23 euros, ST Microelectronics rose 1.32% to 8.98 euros.

Aeroports de Paris: +0.08% at 59.05 euros

The government and airline officials agreed Thursday in a dozen measures to better cope with falling snow have disrupted traffic in late December.

Sanofi-Aventis: 0.29% to 51.95 euros

The U.S. ally Sanofi-Aventis, Bristol-Myers Squibb said Thursday the recall of 64 million tablets of Avalide, a treatment against hypertension in the United States and Puerto Rico.Moreover, the French laboratory hopes to conclude its takeover bid for Genzyme around $ 76 per share against 69 previously.

Bank stocks battered

Despite the success of bond issues, bank stocks were battered on Friday: Societe Generale, biggest drop of the CAC 40 lost 1.79% to 44.40 euros, Natixis was down 1.11% to 3.84 euros, Credit Agricultural loose 1.01% to 10.30 euros and BNP Paribas dropped 0.93% to 51.21 euros.

First U.S. bank to issue this year, JP Morgan Chase will present its fourth quarter results on Friday to 13 hours.

Stallergènes: -0.02% to 58.89 euros

Stallergenes reported Thursday of a rise of 12% of its turnover in 2010 but he confirmed anticipate a slowdown in growth for its new fiscal year.

Veolia: -0.57% to 22.77 euros

The city of Paris should entrust its lighting contract of 900 million euros sweat ten years to a consortium consisting of Bouygues (-0.09% to 33.11 euros) and Vinci (+0.05% at 41.22 Euro) at the expense of a subsidiary of Veolia Citelium, and EDF (+0.34% to 31.2 euros), according to Les Echos.

Despite the erosion of its earnings, life insurance remains the preferred placement of the French. In 2010, they placed 133.8 billion euros (gross inflows in late November) on these contracts, or 6% from a year earlier. Cautious since the 2008 crisis, investors still prefer funds in euro (87%) contracts in units of account (UA), invested in shares. The deal could change. "The decline in compensation funds in euro should dampen the collection," says Cyril Blesson, co-founder of Cahiers de l'Epargne. However, "life insurance will this year again, the preferred placement of households," he says.

Possible increase in the rate of the Livret A

Also very popular Livret A could he, more attractive for savers in 2011. His rates could in fact go from 1.75% (since August) at 2% net tax on February 1.Everything will depend on the evolution of inflation in December (to be published tomorrow by INSEE). Banque de France uses a mathematical formula that takes into account money market rates and inflation excluding tobacco to calculate twice a year (August 1 and February 1) pay the Livret A. However, if the short-term rates have remained low, the index of consumer prices would have risen 1.6% to 1.7% in December. "The Livret A rate increase to 2% if inflation excluding tobacco is greater than or equal to 1.65%," says Cyril Blesson. Generally, higher wage rates encouraged investors to fuel their booklets. This was the case in 2010. Despite a slump in the fall, the French have placed 4.09 billion euros on their books in 2010 (through November). "Taking into account the interest capitalized late December.Net inflows of 2010 should be around 8.2 billion euros. Which is pretty high, "Cyril Blesson advance.

Investors are so allergic to risk taking. They removed 7 billion of their stock and bond mutual funds in 2010.

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"Battle policy around the Livret A will increase to 2%

A crop in good and due form. The president, on Thursday at his vows to the social partners, spoke on the 35 hours, while the endless controversy over grow in the majority. The 35 hours' hard 'to' Mrs. Aubry had "consequences éfavorables" to "competitiveness of enterprises, the purchasing power and on public finances," he said. But with the flexibility introduced since then, "the 35 hours, uniform binding, no longer exist," says Nicolas Sarkozy.

So, yes, "there is no taboo subjects." But the head of state borders the debate: no question of "touching the purchasing power of employees" or "influence the competitiveness of enterprises". Include: no increase in expenses, which would put pressure on labor costs, or increase or elimination of the statutory working hours.This would reduce the number of overtime. These have enabled "5.3 million people" through exemptions from charges and income tax, to supplement their monthly in 2010.

"For an average wage worker makes two additional hours per week, the net gain in purchasing power is 150 euros per month, said Nicolas Sarkozy. I do not know how to tell employees to work more without earning more. "Thinly veiled allusion to the boss of the UMP, Jean-Francois Cope, who wants to bring down the 35 hours but acknowledged it would mean "very short term" work longer for the same pay.

Bernard Thibault singled

Nicolas Sarkozy and Jean-Claude Mailly (FOR) during the vows.

The Tokyo Stock Exchange ended the session Monday, sustained growth, the Nikkei 225 index ended up 0.80% at 10,293.89 points, driven by good U.S. indicators and the progress of the financial center of Shanghai.

The Nikkei continued its momentum so bullish. Since the beginning of November, the Nikkei was up over 12%. After touching a high of seven months on the morning of Friday at 10,373.70 points, it fell as a result of profit taking. According to analysts, technical signs that the market is overvalued. Coupled with the approaching end of the year, this should be downward pressure on the Nikkei.

Elsewhere in Asia / Pacific, the trend is upward Globle moderate. In Hong Kong, the Hang Seng 0.31% advance to 23,234.60 points. In Australia, the S & P / ASX rises from 0.21% to 4755.90 points.In India, the BSE allows itself 0.35% to 19,576.50 points.

China: no increase in rates or price controls

In China, this weekend, the rise in the index of consumer prices, the main gauge of inflation, last month, reaching 5.1% year on year, according to figures from the National Bureau of Statistics (NBS) released Saturday, against 4.4% in October. This is the largest increase since July 2008 when prices in one year had increased by 6.3%. The news did not result in a rate hike as was anticipated by the markets last week. Single turn of the screw: the rise in foreign currency reserves on Friday for the sixth time since the beginning of the year.

No price controls either. In retail, food prices rose in November from 11.7% a year, an increase smaller than what has been recorded in recent months.The government had said last month he was ready if necessary to establish price controls on essential commodities.

At the Exchange, the Shanghai CSI still climbing from 1.37% to 3205.14 points, after a good session on Friday. These increases are due to the concerns last week, related to anticipation of monetary tightening.

Oil up

Crude prices were up Monday in electronic trading in Asia (88.07 dollars), encouraged by a decline in the U.S. trade deficit and cold weather in the Northern Hemisphere and the United States, in terms of higher consumption , according to analysts.

The Organization of Petroleum Exporting Countries (OPEC), meeting Saturday in Quito, has unsurprisingly renewed its production quotas for the seventh consecutive time, judging the world market well supplied and relativizing the recent rise in oil prices."The conference decided to maintain its current production levels, set at 24.84 million barrels per day (bpd) since January 1, 2009.

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"China's new anti-inflation measures in order

The Paris Bourse continued its warm its advance Thursday. The CAC 40, which has evolved in the green throughout the session, buoyed by the good mood on the markets this morning asiaitques, has skyrocketed with the opening on Wall Street very opima. The index closed the day on a good increase of 1.99% to 3867.97 points.

Other European stock markets followed the same path, like the Frankfurt Dax, which climbed 1.97% to 6832.11 points, a highest since June 2008, more than two years-and the FTSE in London, which ended up 1.34% to 5768.71 points.

Without disappearing, worries about the financial health of Ireland and several other European countries seem to subside after having weighed heavily on global indices in recent days.Furthermore, good economic indicators in the U.S. and the sensational debut of General Motors on Wall Street have given a fillip to U.S. Index, which climbed more than 1.5% at the close of the Stock Exchange Paris.

The slight increased confidence was reflected this morning on the foreign exchange market. The euro regained ground against the dollar, climbing above the $ 1.36 threshold. Around 17:30, the euro bought 1.3600 dollars against 1.3530 late Wednesday.

On Thursday, the macroeconomic side, INSEE announced start-ups down in October, 8.5% from the previous month, despite creations under the status of the entrepreneur.

Current accounts of euro area recorded a deficit, seasonally adjusted data, from 13.1 billion euros in September after a negative balance of 6.9 billion euros the previous month, said Thursday the central bank European.In addition, the ECB has revised the deficit down slightly in August, initially reported 7.5 billion euros.

Also in the news macro, after a slight slowdown, growth in France should gradually recover, but unemployment will remain high, according to new forecasts Thursday of the Organization for Economic Cooperation and Development (OECD).The organization now expects growth of 1.6% in France in 2010, 1.6% also in 2011 and 2% in 2012.

In early afternoon, the attention has been paid, the Atlantic, the weekly listings on unemployment and manufacturing index for November in the Philadelphia area, better than expected, and the index of leading indicators October, in line with expectations.

Only Alcatel-Lucent and Natixis down

As for values, found the bank of beautiful colors, thanks to an improved market sentiment on the issue of sovereign debt of European countries. Societe Generale takes the lead sector (3.18% to 42.82 euros).The bank brings in its wake Credit Agricole (1.31% to 11.20 euros) and BNP Paribas (2.56% to 53.64 euros).

The top of the ratings on the CAC 40 illustrates Schneider Electric (6.01% to 109.30 euros), Peugeot (5.64% to 30.65 euros) and Accor (4.10% to 32.10 euros).

The financial director of PSA Peugeot Citroen, Frederic Saint-Geours said Wednesday that the debt ratio of the group in early 2011 would be consistent with a return of the credit rating investment grade. He also said he was "logical" to repay the balance of two billion euros of public anti-loan crisis in April stating that no decision had yet been taken. The entire auto sector climbs on the Stock Exchange on Thursday, with the successful IPO of General Motors on Wall Street Thursday.Renault and ahead of 3.72% to 42.90 euros.

Carrefour (2.62% to 38.96 euros) will not sell its operations in Malaysia because of takeover offer interesting and now invest in enhancing its presence in this market, said its managing director, Lars Olofsson, the Wall Street Journal. Carrefour looks even more growth opportunities in the region, including the acquisition of Matahari Putra Prima in Indonesia, he added.

France Telecom (1.36% to 16.82 euros) said Wednesday that the group may consider share buybacks to return cash to shareholders.

Side down, only Alcatel-Lucent (-0.92% to 2.15 euros) and Natixis (-0.13% to 3.84 eruos) are shown in red.

Air France KLM in form

Air France KLM was warmly applauded. The airline announced Wednesday evening to have returned to profits in the first half.It notes in passing its target of operating profit to more than 300 million euros for 2010-2011.The Exchange appreciates: securities jumped by 5.71% to 13.97 euros, the second largest increase in the SBF 120 after Schneider Electric.

Bourbon (0.93% to 31.42 euros) announced Thursday it had sold its stake in Bourbon Tay Ninh Sugar Factory with a group of Vietnamese investors for a $ 34 million.

Sanctioned Wednesday, as Safran (5.16% to 22.64 euros) is still guarded Thursday after the AMF has asked the company to clarify its intentions on its competitor Zodiac (-1.72% to 51.97 euros) by Friday before the opening of trading.

Yellow Pages (-0.53% to 7.49 euros) on Wednesday announced a new hope to show turnover up in 2011 with the development of ads on mobile phone and internet.

The independent directors of Axa Asia Pacific are now unanimous in supporting the bid of 13.1 billion dollars from its parent company Axa (1.61% to 12.93 euros) and Australia's AMP, which suppresses A major barrier to the operation.

• Transport

– National level:

TGV eight out of ten on average, two B and three.

To Corail trains day and night (Lunéa), traffic will be 6 out of 10 trains.

The traffic is normal on the Eurostar and Thalys.

– Region:

Intercity trains: six out of ten trains in the north, a second train in the west, three out of four trains in the Southeast.

Ile-de-France: two in three Transiliens average during peak hours. A second train on the line H. Normal traffic is expected on the RER A. Two out of three trains on average for the RER B, C, D, E.The subway and bus traffic is normal.

In Toulouse, the bus depot Langlade was blocked on Monday morning.

– To monitor traffic in real time:

http://www.sncf.com

http:// www.infolignes.com

http:// www.abcdtrains.com

http://www.ter-sncf.com

• Stations

The return to normal at the pump is still uncertain. According to the French Union of Petroleum Industries (UFIP), we can expect a further deterioration of the situation-off Monday because of supply slowed Sunday by the compulsory rest of lorry tanker.

The same goes for the Independent Union of Petroleum Importers (IPU), which estimates that a three-tion is in trouble on Monday."Since there was no replenishment stations yesterday (Sunday), and the return of the weekend, especially on highways stations, has been intense, we find ourselves this morning with a situation little tense, "said Alexandre de Benoist, Chief Executive of the IPU, which represents supermarkets (4,800 stations 12,300).

Jean-Louis Borloo, confirmed on the evening of Sunday, he could "be some difficulties on Monday morning"

Ille-et-Vilaine, near a station is on two dry fuel on Monday morning, according to the prefecture.

It is very difficult to fill in Rennes.

• Refineries and depots

Twelve refineries in France are always off. Seven of them, at least, are on strike Monday.Other voters will vote on the motion in the following day.

The filing of Saint-Pierre-des-Corps near Tours has been released, while that of Fos, near Marseilles was again blocked on Monday morning by agents of the port and dock workers.

At Grandpuits, Seine-et-Marne, where the police had intervened to release the deposit, the loading of tankers resumed. Mohamed Touis, CFDT union delegate stressed however that the stock of available fuel was no longer an active day. "There are only 480 trucks to load. In normal times, was charged with 400 trucks per day, you see, is the story of a day of independence. "

In Marseilles, the port returns to his thirtieth day of the strike and the conflict has already cost 600 million euros.

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"The bill strikes gets heavier

Oil refinery strike Grandpuits, near Paris, was requisitioned by the government early Friday morning "on behalf of the interests of national defense."

Total Grandpuits site, Seine-et-Marne is one of twelve oil refineries located on French territory, advanced in the protest movement against pension reform. "What has happened is extremely serious," denounced Charles Scarf, coordinator of the oil group Total CGT, the union's general secretary in charge of the oil industry, during a press briefing in mid-night.

"From time to Petain, we knew the raids, in the era of Nicolas Sarkozy, we know the roundup of our social, trade union rights of the raid by this request because it hinders the employees in exercising their right to strike" , he said.

Despite the movement around the refinery, the strikers reiterated their willingness to continue the blockages in their fight against the proposed pension reform. Toufefois they decided to lighten the picket line Friday morning that there were "a couple of people" before the arrival of police.An hour and a half later, the number amounted to "a fifty employees," says Frank Mantle, CGT union representative who noted that other strikers were coming strengthen their movement.

The prefect of Seine-et-Marne, Michel Guillot, along with some of his collaborators, "came to himself requisitions to staff in order to supply service stations and all clients of Total, all that pretext of a code Defense, "railed one union official.

Blocking refineries and fuel depots caused disruptions in the supply of gas stations with the approach of the first departures on holiday of All Saints. Of the approximately 12,300 stations that include France, 2790 were facing shortages as the score made Thursday by the government.

Traveling in the Eure-et-Loir, Nicolas Sarkozy defended Thursday the release of hydrocarbon deposits paralyzed by stating that it could leave a "minority" to hijack the daily life of French. "We have no right to take hostage the people who have nothing to do in their daily lives," he said. "By taking hostage the economy, business and everyday life of the French, it will destroy jobs," he added.

The police continued Thursday release of deposits, such as Ruby in Rouen, which supplies the Rouen area and part of the Ile-de-France, said the interior minister, Brice Hortefeux on Europe 1.September filings were released last night, he said, adding that 14 remained paralyzed on the 219 countries of which 96 are considered "priority".

The strikers had decided to lighten the picket line Friday morning that there were "a couple of people" before the arrival of the applications, he added. An hour and a half later, the number amounted to "a fifty employees," saysMantle, who noted that other strikers were coming strengthen their movement.

Friday morning they intended to "oppose legal way" to requisitions, but had "used every means in (their) possession to continue to assert (their) right to strike," he warned.

The prefect of Seine-et-Marne, Michel Guillot, along with some of his collaborators, "came to himself requisitions to staff in order to supply service stations and all clients of Total, all that pretext of a code Defense, "railed the union official.

"We're not at war, we are not under siege, code defense does not apply in this case," he stressed.

The prefecture of Seine-et-Marne, joined by AFP, did not comment.

Anxiously awaited the U.S. employment figures for August were better than expected, according to the Department of Labor. If the U.S. economy as a whole has destroyed 54,000 jobs, the private sector alone has created 67,000 jobs. Economists had expected only about 41,000 new posts.

Only the number of private sector jobs is important, because the public continues to destroy temporary jobs created earlier this year for the population census and does not reflect the U.S. economy.

The unemployment rate, calculated differently, increased only 0.1 percentage points to 9.6%.

The Paris Bourse jumped in the wake of the publication of U.S. statistics, the CAC 40 gaining 1.43%, to 3683.54 points.

More to come …

A history of gold? The fund Bridgepoint entered into Friday night to Saturday two agreements to buy the first two channels simultaneously French jeweler midrange, Histoire d'Or and Marc Orian.

If successful, a priori, in October, the transaction remains subject to the advice of two councils and the approval of competition authorities, would bring the delicious result of two brands created by successive Sylvain Krief in the 1980s, and whose networks are geographically complementary.

Histoire d'Or, owned since 2006 to fund Silverfleet Capital, has 200 stores, almost all located in shopping malls on the outskirts of cities. The company is dynamic. Its turnover amounted to 220 million euros in 2009, up 1.1%. In France, its network of stores has almost doubled in size in four years.Elsewhere in Europe, the brand has established in Belgium and Italy. History Gold was also launched in 2007 teaches J'M (six stores), on the same niche, but more likely.

Good mid-range resistance

Located also in the malls, Marc Orian Group operates its side a network of more than 250 stores under the Treasury and Marc Orian, and annual sales of around EUR 130 million cash advance loans. The company is owned since 2006 by QUALIUM (formerly CDC Capital Investissement) who bought from Crédit Agricole Private Equity.

The combination of these signs would create a network of over 450 shops for a turnover of around 450 million euros. It has been several years that the funds eyeing the jewelry chains midrange.The sector has grown steadily against the current of a market down 2% last year, mainly at the expense of traditional jewelry stores downtown.

Bridgepoint could benefit from his position of arch-leader to refine the positioning of its various networks, optimize purchasing and address the heart of market towns by launching a new concept.

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