The Paris Bourse started the week well. The CAC 40 Opens Monday up 0.35% to 3924.22 points.
Even optimism in the rest of Europe. London Stock Exchange has opened up 0.32% to 5616.91 points while in Frankfurt the Dax was entering the meeting in the green, taking 0.24%, to 5891.74 points.
Markets follow the movement driven by Asia Market earlier this week. The Japanese Nikkei closed up sharply (2.09%), carrying with him all the financial centers of the region.
This optimism comes from the U.S. figures for employment, less bad than expected, published Friday (36,000 jobs destroyed destruction cons 50,000 expected). Statistic reassure markets that see it as a sign of recovery very explicit. Especially as the consumer credit in the United States also sets out again on the rise (4.96 billion dollars in January).Both information had enabled the Cac 40 to exceed the 3900 points at the close Friday. Maintaining this level will be one of the objectives of investors on Monday, before setting off to the 4,000 points.
Japan, meanwhile, announced Monday a current account surplus (899.8 billion yen), compared to the deficit recorded last year in the same period (132.7 billion yen).
Furthermore, the forecast GDP growth in France has been revised slightly downwards to 0.4% in first quarter 2010, a second estimate of the Banque de France (BDF). In its first estimate published in February, the BdF expected GDP growth of 0.5% for this period.
German industrial production for January will be known 12 hours guaranteed payday loans .
EADS in the collimator
The defense group EADS said on Friday reached an agreement in principle with client countries on the financing of the military transport plane A400M. This also held Monday in Paris a crucial meeting on the fate of the military plane, which displays almost four years behind the counter.
The director general of Crédit Agricole, Jean-Paul Chifflet, revealed in an interview with Le Figaro, his long-term goals. "If we find other opportunities for collaboration to reduce intermediation costs for our customers, we will. With the Company generally or with others, "he said as well.This information may affect the securities Societe Generale and BNP Paribas.
In an interview with Le Figaro also Antoine Frerot, CEO of Veolia, reaffirms the group's objectives, including "after-tax profit of at least 9% and operating profit up 4% on average annually.
The central works of extraordinary total stands Monday. Employees of Dunkerque, on strike since January 12 this year, threatening to spread the oil available to them if management does not accede to their demands.
As for publications, Biomerieux announced on Monday a net profit in 2009 of 148 million euros, above expectations. The group table for the period 2010-2015, an average annual growth of between 7% and 9% at constant exchange rates.
The annual results of cements French gather today.Just as those of April, after market close.
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The upturn in France continues apace. The services PMI rose to 58.7 in December, according to the latest figures published by the Institute Markit / CDAF. Services rose for the fourth consecutive month. The index of purchasing managers for the overall activity, combining the services and industry (figure published earlier this week), also indicates an increase, to 59.2, against 60.2 in November.
The indicator for the services' folds compared to 60.9 in November (a high of 37 months) but nevertheless indicates a high rate of expansion, "notes Mark. Beyond 50, the index indicates an increase in activity. The dynamism of the index is due in December by the record number of new contracts at their highest level in two years.
On the other hand, job losses and slowing the decline in prices paid and charged by companies stalled."Further, in 2010, the upturn recently recorded should be based largely on developments in the labor market," said the statement Jack Kennedy, economist at Markit. "He therefore hoped that the growing confidence of businesses in the economic recovery is reflected, in the new year, with hiring decisions."
The services PMI in Eurozone recorded his part for its strongest growth since November 2007, to 53.6 in December against 53 in November. "However, the recovery did not extend to all countries in the eurozone, where the Spanish services sector remains a concern," said Rob Dobson, senior economist at Markit.
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The French manage to reach a critical size in the Light Armored? It is hoped that the group Panhard attempting a rapprochement with the public Nexter (formerly Giat). The building is well underway in Europe, led by the Anglo-Saxons.
To the north, Britain's BAE Systems has steadily increased, including the purchase of Swedish Hagglunds, and now shows 7 billion euros of turnover. To the south, the U.S. General Dynamics has swooped on the Spanish Santa Barbara. The French Nexter and Panhard, which respectively carry a turnover of 579 million euros and hundreds of millions, have emerged as Tom Thumb. A rapprochement with Renault Trucks Defense, a subsidiary of Volvo Trucks, has also been mentioned.
Hence the idea of boss Panhard, Christian Mons, initiating a rapprochement with Next.Especially since the group's main shareholder, with 75% of the capital, George Cohen, had once considered separate from that asset. Having no desire to become a sub-subsidiary of a foreign group, Panhard therefore seeks to grow, with a preference for a Franco-French solution. Interviews with representatives of the Directorate General of Armaments (DGA) – who presides over the future of Nexter – have already been held and the proposal would have received a rather favorable.
Crossing several pitfalls
Panhard side, do not hesitate to think big. The company already imagine that after having bought Nexter it could begin negotiations with its German competitors Rheinmetall and KMW, also looking for external growth operations to reach a critical size.Such discussions would kick off an equivalent of one armored EADS.
Before that happened, it remains to Panhard to cross several hurdles. Only Nexter Armored Division and its flagship, the Leclerc tanks, interest Panhard. It performs alone 450 million euros of turnover. The group led by Christian Mons no secret to be much less inclined to acquire the activities of artillery and information systems and command.
Although it is still too early for a pattern emerges, buying only part of Nexter or the total surrender before a non-strategic assets, then he should know how to organize a form of privatization of the former Giat. Finally, if Thales does not seem to be a candidate for a merger with Nexter, Renault Trucks Defense had already expressed interest Nexter in 2008.The subsidiary of Swedish group had also extended a hand to Panhard, who was then preferred to decline the proposal.
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Sequences "emotion" and "crop" this Friday at the close of the 49th congress of the CGT in Nantes. Bernard Thibault, exhausted by a week of sometimes heated debates and visibly excited to have been renewed for the fourth time at the head of the CGT, first paid tribute to "six comrades" who leave the executive confederal "after rendered such services. " Among them, two leading figures of this decade: Maryse Dumas, his right arm on employment issues, and Jean-Christophe Le Duigou, the "Mr. Economy and Pensions" of the plant.
Bernard Thibault, who had gathered yesterday on behalf of 88.4% of the votes for the election of the Executive Committee, then cropped activists who have criticized his lack of involvement on the ground and its rapprochement with the CFDT. Particularly highlighting the vote by 77.5% of the delegates of the progress report of the past three years."It's a very honorable to score a direction supposedly cut off from its base," he joked, saying in passing that Nicolas Sarkozy would like to receive the same level of approval of French policy that led to the Elysee.
And the secretary general of the CGT then push the nail against those who disrupted the debate sometimes during the week and gave a divided image of the plant. "It can not be the CGT opposition and majority, he hammered the applause of the audience. There is no line of management, because management implements the guidelines validated by the Congress. "And this is not the great majority of the 1 000 delegates of the 49th Congress which contradict the resolutions of the document guidance for the next three years that received between 73 and 86% of the votes.The CGT knows where it goes, he still drummed, while specifying that the central union will not "attractive if it gives the image that his first battle is internal.
"The Internationale" raised fist
Wishing a CGT "closer, more united and effective," Bernard Thibault has drawn the roadmap for the coming months. "Our priority is the transformation of society," he said. Its power plant will therefore go on retreats launched by Nicolas Sarkozy. "The future of pensions will be the marker for the determination of employee resistance", he warned the head of state. The CGT also ensure that employers does not set wages and employment."The increase in salaries is the key to ending the crisis," he said.
The leader of the CGT has finally made an appointment to his "comrades" for two mobilizations to come: a euromanifestation March 24 to get a boost in employment at European level and a national campaign to defend public services in stride. And said, for those who doubt that the CGT would not wait the end of March "for organiserd'autres appointments and inter-national".
The message is clear: the CGT has not changed, it is always with those who struggle.And the Internationale, sung to finish his fist raised by the Secretary General and the thousands of delegates – admittedly preceded La Marseillaise but sung with more gusto – aimed to demonstrate.
"ANALYSIS VIDEO -" 2009-2012: Challenges Bernard Thibault "
"Thibault:" I've spent any deal with Sarkozy '
"Chérèque private congress of the CGT
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Local governments have reduced their investments by 2.7% in 2009, according to the memo on the economy of the bank Dexia. Can we conclude that the stimulus package the government has been ineffective? No, say experts Dexia. The decline would have been far higher without the flagship of the plan, the repayment with a year ahead of the VAT if the community is committed to invest more. As a result of the election cycle, 2009 could not be a good year for investment. In the second year in office, mayors have not yet launched new sites. Evidence that the stimulus package has had a positive effect of joint investment has declined only 3.1% in 2009, when he fell from 7.9% in 2002, another year post-election .
Still, the financial community may raise some concerns.Again in 2009, their operating costs rose faster than revenues (4.7% against 2.7%). The balance between the two remains the beneficiary of 39 billion euros is indeed an obligation, communities had no right to have an operating deficit. But the mattress decreases. Infuriating when you consider the blow on the property tax, property tax and business tax that taxpayers suffer this year. The fault lies with the transfer duties, the famous "notary fees. Dependent on the housing market, they have dropped 26% this year. For departments, the loss reached 1.9 billion euros, exceeding one billion additional revenues associated with higher taxes. Meanwhile, because of the crisis, these same departments, which included support the RMI and the RIAA, have suffered a 5% increase in social spending.
However, the debate on local government spending is far from exhausted. Excluding transfers of state employees, their numbers grew by 34,850 people this year and personnel costs rose by 4.9%.
In addition, as the subject arose from the difference between revenue and expenditure decreases, communities need to invest into debt. Their debt grew by 4% in 2009, and this leads to 132.1 billion euros, or 6.9% of GDP. This year, lower interest rates has reduced the cost of debt for municipalities, counties and regions. But it will not last forever. Even without the reform of business tax, the financial stability of communities becomes more difficult. And the state is determined to limit the growth of the funds it pays them.Municipalities, counties and regions will in future make an effort on the expenditure or investment, or operation, the experts conclude Dexia. They noted that reflections on the mutual commitment and optimization of operating costs. Continued …
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