International News

The title of the rural bank in China has opened up 1.6% and grew by 3% in the morning in Hong Kong for his first day of trading on the financial sector. Yesterday Agricultural Bank had completed on a 0.8% increase for its first day on the Shanghai Stock Exchange. From humble beginnings, who have not reassured the markets.

Fourth and last major bank in the Chinese state to be listed, it is worse than those rivals who had recorded double-digit growth, along with Industrial and Commercial Bank of China (ICBC), whose title was took 15% on the first day, in 2006. The current value of the title of the Agricultural Bank is 1.65 times book value, placing it above the other major Chinese banks.

The IPO of the Chinese establishment would go down in history, with an amount of 22.1 billion dollars.But it will only be achieved if the over-allotment option is exercised. The humble beginnings of the track gradually away this possibility for Agricultural Bank, which has so far raised only $ 19.3 billion. The record for the largest IPO would then remain at his counterpart ICBC, which raised 21.9 billion dollars in 2006.

ALSO READ:

Asian stock markets see life in Green on Wednesday. All financial centers of the region appear to rise steadily. This situation contrasts clearly with the caution displayed Tuesday. Because of this enthusiasm: the American quarterly results, published since Monday. After those of Alcoa, which helped support Wall Street, those of Intel, fell after the close Tuesday, boost the morale of Asian investors.

The world of microprocessors has announced the results he describes himself as "historic". In the second quarter, the company posted a net profit of 2.887 billion dollars and an increase in turnover of 34% to 10.765 billion dollars.

Tokyo euphoric

In Tokyo, the Nikkei, which opened up 1.79%, continued to rise throughout the session to finally close on a leap of 2.71% to 9795.24 points.The Topix ended up 1.91% to 870.73 points. The activity has yet been moderately strong, with 2.3 billion shares traded on the primary market.

The performance of Intel supported Japanese stocks in the technology sector as the supplier of semiconductor Tokyo Electron and the semiconductor manufacturer Advantest, which respectively surged 4.07% and 5.67%. The early solid quarterly publications U.S. has generally allowed large groups of exporters rise sharply Wednesday. Automakers Toyota Motor Corp., Honda Motor, and the specialist digital cameras and Canon gained 3.47 to 4%.

Please note that Toyota enjoyed an article in the U.S. claiming that drivers who complained about the unintended acceleration in their Toyota had mistakenly pressed the accelerator instead of the brake.

The region follows the oil and also

In China, stock markets in Hong Kong and Shanghai respectively earn 20,640 points to 1.03% and 0.56% at 2463 points.

The Korean Kosdaq is 0.53%, the S & P Australia 1.62% and 0.47%, Sensex India.

Moreover, crude prices are mounted on Wednesday morning trade, the price of light sweet crude for August delivery gained 2 cents to 77.17 dollars a barrel, while Brent North Sea due identical, took 27 cents to 76.92 dollars.

The CAC 40 starts the week without much conviction. After playing sawtooth, the index finally closed its Paris at the start of the session: the CAC 40 gained 0.37% to 3 567.66 points.

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.

A little over a week after its expiration, the license of Google in China has been renewed, said Friday the U.S. Internet giant. "We are delighted to have received the annual renewal of the license and can continue to provide products and services to our users," said David Drummond, the official blog of the group.

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.

ALSO READ:

"Google, partially censored by China

Click on the thumbnail to enlarge the graphic

The Autorité des marchés financiers (AMF) to better protect investors. Like announced last April, the MFA has launched with the collaboration of the supervisory authority, a new public financial information. His goal? To better inform its clients on banking, savings, insurance, financial markets or the credit. The public will get information on insurance products (home, auto, life, health …), bank accounts, means of payment, bank books or the functioning of financial markets, products collective savings, companies listed on the Stock Exchange, the securities account.

"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..

ALSO READ:

"The banks have taken the bad habits"

AIG will not access the request of Prudential. While the British insurer claimed a decrease of 10% of the purchase price under pressure from its shareholders, AIG said Tuesday in a statement it will not alter the terms of the proposed sale of its Asian subsidiary AIA UK Prudential, whose price is set at 35.5 billion dollars (nearly 29 billion euros).

Prudential acknowledges and will respond "in due course"

In another statement, Prudential said take note of the decision of AIG and said he will make a statement in "due course". He confirmed that he proposed a reduction in price and said that his new proposal is 30.38 billion dollars (24.7 billion euros).This represents a decrease of 14.4% of the purchase price, not 10% as first announced by the prospective acquirer.

To partially finance this acquisition, Prudential would need a capital increase of 21 billion dollars (about 17 billion dollars). What worried shareholders, who must decide on the draft on June 7

Prudential and AIG have resumed negotiations last week to save this agreement, several shareholders of the British insurer has estimated that the price offered to become the dominant player in Asia's life insurance was too high.

After this new twist, we expect that the shareholders of Prudential eagerly await the response that Prudential will this announcement.Prudential Will he finally pay $ 35.5 billion and will reach there to give AIG? Unless the proposed acquisition would not be abandoned.

ALSO READ:

"Prudential is a reduction of 10% for AIA

According to Les Echos, Veolia Environment and Suez Environment, the two companies negotiating with SEDIF (Union Water Ile-de-France) for a giant contract to supply water to 144 municipalities in the Ile-de-France, outside Paris, have both received a letter.

Following this letter, only Veolia was invited to continue the development of the contract. This means that the number one global services to the environment is only now vying for the contract of ten years, possibly extendable to twelve years, which shall become effective on 1 January 2011 cash advance america. Suez Environment has indeed confirmed on Tuesday he was excluded from the tender. Veolia Water, part of Veolia Environnement holds the contract since 1923.

The Chinese central bank announced this weekend a further increase in reserve requirements of major banks by 0.5%. This level will be 14% for small financial institutions and 17% for large banks. This is the third time that the People's Bank of China raised the reserve this year. The move is seen as a prelude to higher interest rates, much anticipated in 2010, but it is also a way to delay interest rate hikes this by tightening the screws on the credits via the proportion of reserves. This measure will be effective on May 10

Beijing seeks to put a brake, while concerns about overheating and bubbles in real estate including resurfacing.

Most analysts remain confident about the ability of the Chinese government to curb the overheating, but some are sounding the alarm.In an interview with Bloomberg, economist Marc Faber announcement and a possible implosion of the Chinese economy by a year.

Since Tuesday, investors are moving away from safe-haven assets following the various signs of recovery in the global economy. The success of Intel promote appetite for risk. What will weigh on the dollar. Just as the maintenance of the speech by the Fed, which promotes interest rates still very low even for long.

EUR / USD – Sessions hectic since early April

After the Easter weekend, there has been a depreciation of the euro against the dollar in a climate of distrust of so-called risky currencies. The operators were cooled in their appetite for risk because of their fear on the issue of Greece. The single currency has lost about 220 pips * from a quotation of dollar 1.3500 1.3282 U.S. dollar on Thursday at 10am (lowest of the week).

Then the tension on the markets have weakened.Speech by Jean-Claude Trichet, president of the ECB (European Central Bank) last Thursday, has eased the financial world. He said he pursued the policy of low interest rates up to 1% in the euro area. And it has said that "Greece was able to reduce its deficit" and had already started to employ strong measures.

Nothing better to give a boost to the euro. The last weekend, offering assistance to 30 billion euros – Athens does "not want to use" – the European Union gave a big blow oxygen, allowing the euro to rise around 1 36 dollar on Monday.After two sessions of stagnation (Monday and Tuesday), the exchange rate has increased again, bolstered by renewed investor optimism about the strength of the global recovery due to favorable economic statistics, while comments Fed chairman on a forecast of "moderate growth" have weighed on the greenback.

On Tuesday, the foreign exchange markets have welcomed the issuance by Athens Treasury bills.And on Wednesday, Ben Bernanke (Beige Book) reiterated Wednesday that the rate of the institution should remain close to zero, at which they are set since December 2008, for an extended period, dismissing speculation of an anticipated tightening of Fed monetary policy, which has given new impetus to the euro.

As expected by analysts Realtime Forex Tuesday, which saw the euro test the 1.3541 support for better back, it is mounted to 1.3667 to 18 hours.

CDN / JPY – Same trend

Nippon side, the euro followed the same "trend" * weekly against the yen. The single currency began a decline of more than 400 pips against the yen. On Monday, the euro / yen was quoted at 127.70 to touch a low of 123.40 yen. But from the response Trichet yesterday, the euro strengthened to 125.60 yen to return.

The yen fell for the sixth straight session against the euro, with one course from Wednesday to 127.07 yen against 126.83 yen the day before.

GBP / USD – Sterling held up better than the euro

Across the Channel, the BoE (Bank of England) has also left interest rates unchanged at 0.5%, indicating that this was not the time to make an adjustment of rates.

Monetary side, the pound sterling, however, fared better than the euro against the dollar. Like British macro-economic figures emerged this week (GDP 0.4% and manufacturing output up 1.3%), the pound has evolved into a "range *" between 1.5130 and 1.5320 dollar.

* The cable is able to break this channel by treating up to 1.5473 dollar.

Against the yen, the pound again the delay and found almost the level of 144.21 yen on Monday.

CHF / EUR – Swiss Franc still going strong

On Wednesday, the Swiss franc 1.4362 per euro symbol. This is a very strong for the Swiss franc, which traded in 2009 almost all the time between 1.50 and 1.54.

Since the beginning of the year, the Swiss Frabce climbed more than 5%. This is not the business of the Swiss Central Bank, whose foreign exchange policy is heckled.

The yuan under the spotlight of the world

On Wednesday, Ben Bernanke, who appeared before the Joint Economic Committee of Congress, reiterated that "the United States must continue to press China to bring it to revalue its currency, the yuan."Barack Obama this week's encounter homolgue Chinese President Hu Jintao on China's trade deficit background.

Most economists agree that the currency is undervalued – by 40% according to analysts and has been used to obtain an economy more oriented toward exports to domestic consumption.

On the one hand, in case of revaluation, China would be ready to counter the speculative bubbles that threaten, and inflationary pressures. But then again, remember that a more expensive yuan will be more expensive for the "Western" to fill all Chinese products.And they will have the effect of melt exchange reserves in dollars of the Chinese, which does allow them to buy as many more U.S. Treasury Bonds, and therefore finance the debt of the United States …

* Definitions

• Forex: For Foreign Exchange, or foreign exchange market

• Technical analysis: analyst or chartist. She studied graphic evolution courses. The research in the historical price behavior involved in a situation to predict the evolution of financial securities.

• Pips: Price Interest Point. Unit rating for foreign currency. It designates the last digit used: in the case of the euro, the fourth decimal place.

• Trend: trend.

• Range: range.

• Support: value as the price has very little chance to pass down.

• Resistant: value as the price has very little chance to overtake on the rise.

• EUR: Euro, USD: U.S. Dollar, or U.S. dollar JPY Japan Yen or Japanese yen, GBP: British Pound, CHF: Swiss franc.