Although financial markets have integrated in the price recovery will be a more complicated than in the U.S., caution remains the watchword. On Wednesday, the main index rating Paris closed up 0.92% at 3677 points.

The Fed chairman, Ben Bernanke, has shown little enthusiasm on U.S. household consumption and real estate and industrial sectors.The economy minister, Christine Lagarde, has adopted the same attitude as regards the European Union: the recovery remains "fragile".

Europe, the United States and Japan under scrutiny

On the macroeconomic front, the day will be very busy.

The French economy has registered 26,200 net new jobs employees in the second quarter (+0.1% from the previous quarter, 0% over a year), according to final figures released Thursday by the INSEE.

Moreover, the real estate industry figures in Paris and Ile de France for the second quarter were impressive: house prices soared again in Ile-de-France, as before the crisis, and central Paris is beat his record with an average transaction price of 6,680 euros per square meter.

In Germany, inflation slowed in August, 1% a year, against 1.2% in July, said Thursday the Federal Statistics Office, confirming preliminary figures released earlier.In one month, rising prices in Europe's largest economy is unchanged.

The Organization for Economic Cooperation and Development (OECD) we will evaluate the economic situation in Europe, U.S. and Japan to 11 hours.

The European Central Bank and the Organization of Petroleum Exporting Countries (OPEC) will publish its monthly report in the morning.

Finally, several indicators are expected in the U.S.: the weekly claims for unemployment benefits (1430), the trade figures for the month of July (1430) and the weekly crude oil inventories (1630).

On the currency markets, the euro lost ground against the dollar Thursday, falling below the $ 1.27, while the market is concerned about the contraction in gross domestic product of Greece 3.7% annual in the second quarter.Around 9:00, the single currency was worth 1.2688 dollars (-0.24%).

Values follow

EADS (+0.03% to EUR 18) is in discussions with a small number of defense companies, services and security for potential acquisitions and could easily make a purchase about one billion euros Louis Welsh said Wednesday, the Director General of the European group.

Total (-0.63% to 38.41 euros) gained 20% Thursday to a major liquefied natural gas (LNG) in Australia for about 625 million euros, driven by Australian groups Santos and Malaysia's Petronas .

Sanofi-Aventis (-0.08% to 47.75 euros) would have made a new proposal to buy U.S. biotech Genzyme at 71 dollars per share, against 69 dollars offered earlier to Deal Reporter, a financial services group Affiliated to the Financial Times.In exchange, Sanofi-Aventis requests access to the accounts of Genzyme.

The Australian competition authority has opposed Thursday for the second veto the bid of 8.65 billion euros from National Australia Bank to AXA Asia Pacific (AXA, -2.38% 12, 70 euros, the biggest drop CAC 40), which could force the Australian bank to abandon a project initiated nine months ago.

Bercy has announced a proposal to apply the VAT rate from 19.6% to the full tender "triple play" which would allow the state to reap hundreds of millions of euros in revenues Additional in a tight budgetary situation.Investors will pay attention to the reaction of France Telecom (-0.46%), SFR (Vivendi group, -0.38%), Bouygues Telecom (Bouygues, -1.12%) and Iliad (-1.55%), .

Moreover, the Polish subsidiary of France Telecom could publish a third-quarter loss after being ordered to pay 396 million euros to Danish DPTG, said Wednesday its chief financial officer.

Out of ACC 40, the automotive supplier Plastic Omnium (-0.49%) announced Thursday it had completed the acquisition of the global leader in fuel, Inergy Systems, which expects to achieve a turnover of approximately 1 1 billion euros this year.

The buyout offer (OPR), followed by a squeeze on the Eiffarie APRR (balance) will open September 10 for a period of ten days of negotiations.

British defense groups have reported Wednesday that the government had requested to consider the cancellation of orders for new aircraft carriers. The vessels are built by a consortium of BAE System, Babcock International and Thales (-0.58% to 26.4 euros) for a cost of five over five billion pounds (6.1 billion euros).

Korian (1.77% to 16.7 euros), specializing in the management of addiction, has announced a 24.3% increase in net profit to 8 million euros, 26.1% its operating results based on an increase of 6.8% of its turnover in the first half.

The shareholders of Nabucco, the German RWE, Austrian OMV, BEH Bulgarian, Turkish Botas, Hungary's MOL and the Romanian Transgaz each holder of 16.67% stake, will finance 30% of own project.

If the strong financial support ahead now, some observers remain skeptical about the ability to buy the Nabucco gas volumes sufficient to justify the construction, estimated to cost around 8 billion euros. The agreement signed last week between Russia and Azerbaijan providing a doubling of purchases from Moscow to the former Soviet republic has heightened concerns about Nabucco.

The deal comes in a turbulent period for the U.S. giant. Like its rival Visa, Mastercard has lost almost 20% of its stock value in the second quarter. It just has to catch up. Investors have punished those titles because they fear that the reform of Wall Street, passed by Congress in June, weighs heavily in their accounts.

Congress wants to limit the fees charged by banks on transactions paid by card.Logically, the banks will seek to pass this shortfall by renegotiating their contracts with Visa and Mastercard. Committees should be limited next year. While regulators have not set the new legal amount, uncertainty will persist for Visa and Mastercard.

The price is not the only criterion that should differentiate the iPad the Kindle.With these two new players, Amazon remains focused on reading, and now wants to reach all members of the family to the youngest. Here, still no color or touch. "You're not improve Hemingway adding videos," Jeff Bezos slice. The Kindle screen is stuck at six-inch black and white, against 9.7-inch color for the iPad. But it is always with an electronic ink technology much less tiring for the eyes than the LCD. The new Kindle are also lighter, thinner and more compact than the models they replace, are equipped with a more powerful battery supposed to last one month, and store up to 3,500 pounds.

Twice as heavy, three times more expensive (from $ 499), the iPad is contained in its bulky sides of a Swiss Army Knife for the mere reading of books.It is also necessary to convince readers, ready to abandon the paper, both devices can coexist. Indeed, Apple has sold three million touch pads in three months, when Amazon, very secretive about its numbers, merely states that the Kindle is its best selling product for two years. Estimates of Caris & Co., should it sell 3.7 million by the end of the year. To keep ahead of the electronic book market, Amazon does however reserve the purchase of more books to his only reader. In recent weeks, the e-retailer has diversified by launching applications for PC and Mac readings, iPad, iPhone, BlackBerry and Android.

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"Nobody seems eager to take advantage of market declines to buy shares, at least for now", believes Patrick O'Hare of Briefing.com financial site. "This reluctance reflects a decline in market confidence about the ability of companies to achieve their performance goals in the second half of the year."

Influenced by the European public debt crisis, the oil spill in the Gulf of Mexico and fears of slowing global economy, U.S. equity indices closed sharply lower Wednesday for the second consecutive month to reach their worst quarter since the second quarter of 2002.They returned to their lowest level in eight months … Yesterday, the Dow Jones finished down 1% to 9774 points, the S & P 500 also lost 1% and the Nasdaq 1.2%.

The banking sector might react after the removal of a proposed tax credit and the approval by the House of Representatives, the final version of the broader reform of financial regulation in the United States. President Barack Obama reiterated Wednesday during a speech in Racine (Wisconsin, North) that the bill would "prevent a crisis" such as that of 2007-2009. "This is a reform that will protect our economy from the recklessness and irresponsibility of some," he said.

On the face of macroeconomic indicators, the employment figures expected Friday should mark a return to job losses after five months of improvement.On Wednesday, already, enrollment weekly unemployment rose unexpectedly last week in the United States, according to the Labor Department. Applications for unemployment benefits rose 13,000 to $ 472,000 in the figures as at June 26, while economists on average expected a decline to 452,000 over the figure of 457,000 originally reported. This does not augur the best.

Even more than other countries engine of global growth, China has seen, precisely, growth prospects are heavily depressed by the Conference Board and the Chinese manufacturing activity slowed in June, according to two indices Chinese purchasing managers released Thursday.

Investors will closely monitor the repayment by the European banks, expected on Thursday.They will have to repay 442 billion euros Thursday to the European Central Bank, with the maturing of a loan granted exceptional giant a year ago.

Unemployment, housing sales and the ISM Menu …

In this context, the statistics of Thursday afternoon should be highly supervised, investors watching for any sign of improvement. They may be disappointed. The promise of home sales in May and the ISM manufacturing activity in June should be more than mixed.

Technology stocks, IT and telecom will be well attended.

Setbacks Chinese Google could find exits. The license renewal application filed by the U.S. giant in China will be considered by the government and the result will be published shortly, have indeed shown this Thursday, the Chinese media.The U.S. group has shown good will by announcing in Beijing that he would terminate the automatic rerouting of its Chinese site to its site of Hong Kong. The track lost 0.11% to 444.47 dollars.

The internet group Yahoo! else has announced Wednesday that its board had approved a share repurchase program of $ 3 billion over three years. During Wednesday's closing, this amount represents approximately 15% of the market capitalization of the group.After the announcement, the stock price Yahoo!, The lowest since a year has risen by 1.59% to 14.08 dollars.

The Microsoft IT group (+ 0.56% to 23.14 dollars) announced Wednesday it would gradually stop marketing its phone launched in April, the Kin, especially for the youth market of amateur social networks. " Microsoft has decided to focus on the launch (OS) Windows 7 and Phone will not deliver the Kin in Europe this fall as planned, "the group said in a statement

The small business Internet distribution Woot, offers its followers not more than one model per day at deflated prices, said Wednesday that she was redeemed by the giant Amazon, without specifying financial terms of the transaction."The name of a dog! Woot has signed an agreement with Amazon – yes, then the Amazon – to become an independent subsidiary of the giant e-commerce, "said the little Texas company on his blog. The title gained 0.14% to 109.40 dollars.

Finally, Boeing could react because the World Trade Organization asks Brussels to halt "without delay" to the subsidies paid to Airbus. Boeing sees this decision as "a great legal victory, the European union will be Apel.les action leaves 0.51% to 62.46 dollars.

"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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The warning is not innocent. It was made just hours before Prime Minister of Japan, Naoto Kan, announces an increase in the consumption tax, now one of the world's lowest, 5%, designed to rebalance country's finances, would not the day "before two or three years" paydayloans.

In the eyes of Fitch, Tokyo is obviously not fast enough, while the country's debt reaches 201% of its gross domestic product (GDP).

Bercy's goal to reduce by 2 billion euros per year tax loopholes, and for 3 years. An ambitious goal that requires the Department of Economics at all look under the microscope, one by one. "There are two ways to act: either to consider each of the niches and see the feasibility of its abolition.Or set up a rule on all tax and social niches, "said Thursday the prime minister. In other words, the planing.

In late January, in an interview igaro F, Francois Fillon was e indicated that the government does would create "no more". "Then we must question their effectiveness: some of them are not, or more strategic. We will limit the other in time – to force us to regularly check if they meet their goals – and minimize their ceilings, "he explained.

Decisions mid-May

The government has made a religion on the subject for many months already.For even if the deficit was revised slightly downwards for this year – 8% of GDP instead of the initial estimate of 8.5% – a considerable effort will need to be made to the path of public finances on leave again the right slope, having slipped sharply during the crisis.

Politically, addressing niche has an advantage: it is the best way to increase taxes without seeming to. But the task is not easy technically. Touching the niches that benefit businesses? The government is not keen, not to nibble again their competitiveness, it has worked so hard to restore it elsewhere. Last week, Secretary of State for Employment Laurent Wauquiez, was thus excluded from the touch – even slightly – to employer contributions, because "the relief load is undoubtedly the policy tool of the job more effective. "It finds that, according to the minister, a report issued a few weeks ago by the Inspector of Finance, Jean-Luc Tavernier. According to the report, 21 billion of relief support enjoyed by companies on low wages would save between 600 000 and 800 000 jobs. Unable to touch in times of high unemployment.

Addressing niche enjoyed by individuals? Difficult also, without taking the risk of being accused of sacrificing the wallet of the French. On this issue, the prime minister has also several reports in his drawers for the inspection of Finance. One focuses on tax loopholes related to inactivity. Another niche on the taxation of savings. One thing is certain: the topic will be addressed at the national conference of the deficits projected for mid-May Nicolas Sarkozy has already announced that the decision "important" would be taken.

The four largest Greek banks – National Bank of Greece, EFG Eurobank, Alpha Bank and Piraeus Bank – bemoan the evaporation of about 10 billion euros of bank deposits, and implore the government to help, the Financial Times in its Thursday edition.

George Papaconstantinou, the finance minister said Wednesday that all banks had asked for the remaining 28 billion euros of financial support plan provided by the state banks at the height of the crisis in 2008.

Yields never achieved

These calls for help comes as Greek interest rates hitting record highs this week.Wednesday afternoon, the yield (rate) of the Greek requirement to 10 years reached 7.176%. Greek and yields move away from the benchmark, the German Bund, the gap between the two are digging more than 400 basis points (4 points).

Markets reacted to the ruling of Athens, that the measures proposed by the IMF are too severe. "This is one reason, but there are others, as investors are forced to sell because interest rates are now too high," said Jean-Francois Robin, an analyst at Natixis bad credit payday loans .

Some are forced to unwind their positions in part because of the Basel II regulations."The number of potential investors has reduced and the purchase is," said Ciaran O'Hagan, of Societe Generale.

The National Bank of Greece will be "heavily impacted"

As a market leader in deposits, the National Bank of Greece "could be greatly impacted by the movement of outflows affecting Greece since the early beginning of the year," noted analysts at Natixis in a note published Thursday morning, which degrades the value to "ease" cons "before buying" and lowers its price target from 19 to 15 euros.

According to the broker, bank, however, is "the best equipped to deal with the crisis with a Greek core tier 1 ratio (reserve ratio) by 9.4%, and high exposure to Turkey, whose performance in 2010 should offset the slowdown in Greece.

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A mobile police squad has been deployed around the plant. After being evicted on Thursday morning a roundabout they occupied, the employees were cut to 15 hours in their factory.

"They say they want to burn a tank of gas. They want socially is increased, said the prefecture. They demanded that negotiations be reopened with management.The state plays its role of mediator. "

The tank, four to five meters long, located outside the factory is surrounded by pallets "ready to be lit," according to employees.

The prefecture has reported working at a negotiating meeting "if possible as early as Thursday evening. "We do not know how it will end. People are focused, "said Eric Lemoine, of the CFDT plant. "People are starting to crack," he said.

A premium extra-legal of 21,000 euros per employee

The closure of the plant, which employs 92 employees, was announced April 10, 2009. Since then, negotiations between the social management and the employees have failed, despite mediation by the state. Employee representatives were received by early February at the Elysee by an advisor to the head of state, says Lemoine. "It would give us news. We're still waiting, "he said.The employees claim Sodimatex including extra-legal premium of 21,000 euros per employee.

They demonstrated Thursday morning on the outskirts of the plant, blocking access to a large industrial area and the logistics platform Crepy-en-Valois. According to the prefecture, they refused a round table to say their demands and kept blocking.

"The police intervened.They have restored traffic conditions allowing businesses to operate, "according to the prefecture, who said that the direction of Sodimatex" did not require intervention of the authorities. "

The mobile police intervened using tear gas, which was perceived by employees as "a real attack, told AFP Alain Lebrun, general secretary of the departmental union CGT de l'Oise.

"Employees demand that management come to the negotiating table, but not empty handed," he said.

He said the group Trier, owner of Sodimatex, received 55 million euros from the state under the plan to help automotive suppliers. "Today, we want to let employees go with the legal minimum," he denounced.Xavier Mathieu, the leader of the CGT employees of the factory Continental Clairoix (Oise), came to give his support Thursday night "to brothers of struggle."

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