At the bedside of the euro area. The major world leaders meet for two days, Thursday and tomorrow in Cannes for a G20 summit which could be captured by the debt crisis. And the Greek problem.
Last night, hours before the summit, Nicolas Sarkozy and German Chancellor Angela Merkel put pressure on Greek Prime Minister George Papandreou. It wants a referendum on the European rescue plan for his country. French and German leaders asked him an ultimatum: "the question to the Greek people come down to this: do you want it not to remain in the euro area?"
24:37: "Finally, the G20 officially begins, says Cyrille LACHEVRE, Special Envoy of Figaro in Cannes.Nicolas Sarkozy welcomes everyone while Europe, meeting in Council emergency continues to struggle online payday loans. "
24:18: "The EU treaties do not provide output in the euro area without leaving the European Union, the European Commission confirms the sidelines of the G20, about Greece. The only option on the table is that Greece is the euro. "
24:10: immediate response of the Secretary General of the Greek prime minister to the call of the deputies of the majority: George Papandreou "did not resign, will not resign."
24:09: The Greek Socialist MEPs propose a coalition government led by former Vice President of the European Central Bank Lucas Papademos, according to Reuters citing sources internal to PASOK, the socialist party majority
12:08: "The extraordinary summit between EU leaders continues.
The opening of a new generation of "palaces" some months apart, Le Royal Monceau (opened October 18, 2010), Shangri-La (December 17, 2010) and Mandarin Oriental (28 June 2011), has changed as ever the small world of luxury hotels in Paris, forcing the oldest palaces in a serious challenge. In this new context, the Ritz is not alone in having to close for repairs.
Reportedly, Le Crillon, recently sold by Starwood Capital to one of the descendants of the Saudi royal family, plans to close in the second half of 2012, probably for a period of two years. Management has already attacked the facade and roof, but not inside. The idea is to keep the French style, classic 18th, upgrading the hotel, he in turn can officially claim the distinction of "palace", introduced in May by the government.The hotel has no spa, no pool. The technical installations and the rooms have aged. According to a close case, the amount of work would be between 70 and 100 million euros. Not far from the Place de Concorde, the Plaza is also preparing for months of work, avenue Montaigne. "The Plaza Athénée will start the work of great importance following the acquisition of three buildings adjacent to the hotel last year, says Le Figaro Francois Delahaye, his boss cash advance no fax. These projects are planned for the end of 2012.Among the possibilities, a closure is planned for five months, from November 2012. "
According to Gabriel Matar, director of Jones Lang LaSalle Hotels France, the average price of a night in a palace of between 750 and 1000 euros, "defending his position became increasingly difficult as competition comes from both new entrants and old, who spend millions to keep the quality of their product. " For the record, the George V was completely renovated between 1997 and 1999. "Otherwise, it would be today as the Royal Monceau and The Prince of Wales prior to closing," said Gabriel Matar."We currently have the best average revenue per room in Paris and we did not want to raise our market share by newcomers!" Says François Delahaye.
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"The list of eight palaces causes surprise
The Paris Bourse after opening down slightly, trying to make a step forward after a session that saw the CAC 40 fly over 2%. In the morning, the CAC 40 in advance of 0.62% to 3249 points in early trade. Investors do not follow the mood on Wall Street yesterday and Asian markets this morning. The latter found confidence to the rhythm of advertisements European leaders on a plan to end the crisis. They particularly appreciate the position of the European Commission yesterday called for an urgent recapitalization of the banks deal with the debt crisis. Remarks relayed by the Minister of Budget Précresse Valerie, who, like Berlin, says it is "a necessity". France is willing to inject even said herself of public money to support its banks if necessary.
This commitment reflects a shift in the euro area on the Greek case.The taboo of failure is no longer excluded. The President of the European Commission Jose Manuel Barroso called for "decisive action on Greece" while German Finance Minister Wolfgang Schäuble said yesterday that the overall level of indebtedness of Greece should be reduced s' it reaches an unbearable level, "to provide better opportunities" in the country. The discount will have to accept that private investors in the second aid package to Greece adopted in July would be 39% if we used the current market prices to assess the risk profile of the country, instead of 21% estimated at the time, said yesterday an official of the Institute of International Finance (IIF).
New vote in Slovakia, the euro rises
Concerning the Relief Fund in the euro area (EFSF), which must be expanded to support the plan to end the crisis, Slovakia has promised another vote tonight or tomorrow.It should be positive this time because four opposition parties agreed to support the government in place, in exchange for early elections. These data give back to the euro insurance. The European currency found the threshold of $ 1.38 in morning trading.
Oil, however, is small decline: a barrel of "light sweet crude" for November delivery lost 86 cents to 84.71 dollars. Barrel of Brent North Sea crude for November delivery yielded nine cents to 111.27 dollars for the last trading day of the deadline. The operators claim to be concerned before the publication of figures on weekly petroleum reserves in the United States.Another indicator to the American agenda: the weekly jobless claims, trade balance and budget.
Values to follow Banks and cyclic form
The cyclical stocks such as Alcatel (9.9% to 2.2 euros) and Vallourec (3.32% to 48.90 euros) and the banks in the image of Societe Generale (2.92% at 23 , 84 euros), Credit Agricole (2.61% to 7.75 euros) or BNP Paribas (2.50% to 36.23 euros) always lead upward.
Total (-0.98% to 36.20 euros)
The oil company has discovered gas and oil off the coast of Norway, announced this morning the Norwegian Petroleum Directorate. According to preliminary estimates, this discovery is to be between 19 million and 101 million barrels.To dig the well that led to this discovery, Total was allied with Norway's Statoil, authorities said.
Carrefour plunged 4.16% to 17.17 euros
The group launched Thursday a new warning on its results in 2011, relying now on a decline in operating income between 15% and 20%, 15% instead of the planned end of August.
Lafarge (2.28% to 29.62 euros)
The French cement company announced an asset swap with the U.S. Martin Marietta, which it will transfer the aggregates quarries and concrete plants ready and asphalt, in exchange for aggregate quarries and distribution sites .
Casino (1.98% to 62.71 euros)
The retailer saw its organic growth slowed in the third quarter with declining sales of its hypermarkets in France, but the group has confirmed its objectives for 2011 include the strengthening of its market share in the Hexagon and improving margins at Franprix-Leader Price.
Areva (0.72% 22.49 euros)
The consortium of the French group and Germany's Siemens called the Finnish operator Teollisuuden Voima (TVO) to engage in the path of cooperation with the approach the final stages of construction of the EPR reactor Olkiluoto 3 (OL3). The final cost of the EPR should be 6.6 billion euros, according to the member Marc Goua responsible for a report on the accounts of the group. Areva has also been licensed by the U.S. authorities to enable it to construct and operate an enrichment plant in Idaho.Finally, the boss of the group, Luc Oursel, raised the possibility "to smooth or to shift some investments to reduce risk and improve (the) financial situation"
ArcelorMittal (-0.38% to 14.47 euros)
The group decided to shut down two blast furnaces located near Liège in particular because of the deteriorating global economic situation, the financial daily reported on Wednesday Belgian L'Echo, information later confirmed by the unions.
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The Paris Bourse pauses on Thursday, after a session that saw the CAC 40 jumped more than 3.5% beyond 3000 points. The benchmark index of the Paris Stock Exchange began the day on a stable note, down from 0.08% to 3070.58 points. On other European exchanges, the movement is the same. London lost 0.08% while Frankfurt climbed 0.08%. As in Asia this morning, traders expect the set of indicators of days before taking a position. Unlike previous days, the agenda will be very busy in the U.S. and Europe.
In the euro area, the eyes will be on the ECB. Earlier this afternoon, President Jean-Claude Trichet, will make an announcement on rates. Unsurprisingly, they should remain at current levels, at 1.5%. But markets are waiting above him to book his views on the problems of sovereign debt.For now, it's time for calm on that front. Yesterday, the German Constitutional Court was reassurance by confirming plans to aid in the euro area. In France, the deputies approved the second bailout of Greece arrested on July 21. They are the first to start this procedure. The Italian Senate last night gave a green light to the first austerity plan of over 52 billion euros from the Berlusconi government, while Spain adopted its fiscal rule of thumb, as desired by Paris and Berlin.
The U.S. employment under the microscope
United States, several indicators of the health of the economy will fall during the session. Among them, the trade balance, weekly jobless claims and oil stocks.The consumer credit will be available after market in Europe.
Two discourses are also highly expected on Thursday, those of Ben Bernanke and Barack Obama. The Fed chief will speak at around 19 am, French time, the Economic Club of Minnesota. Investors await details about how the Fed intends to support the economy. This intervention will follow the publication yesterday of its Beige Book, which again reported a moderate growth. For his part, Bush will speak on Congress to 1 am, French time, on employment and growth. It should detail a plan for employment that would reach $ 300 billion, raised yesterday by the U.S. media.
In France, growth in employment has slowed
In France, INSEE announced that the dealer paid employment decelerated in the second quarter.Principally market sectors have created a total of 33,300 jobs over the period April to June, from 78,300 in the first three months of the year, an increase of 0.2% against 0.5% the previous quarter.
The trade deficit widened further in July, reaching 6.46 billion euros in seasonally adjusted data, weighed down by a rebound in imports, Customs officials said Thursday.
On the currency side, the euro fell again to 1.4063 dollar.Oil, he, rising as a result of the prolonged interruption of production in the Gulf of Mexico due to tropical storm: a barrel of "light sweet crude" for delivery in October gained 41 cents to 89.75 dollars a barrel of Brent North Sea crude for October delivery takes 18 cents to 115.98 dollars in morning trading.
Values to follow on Thursday
• Banking
Stress tests imposed on European banks have made "transparency and clarity" on the strength of their balance sheets, said Wednesday night a Treasury official in the United States free credit report and score.
Banks react well. Among the largest increases are CAC, Societe Generale (2.01% to 19.77 euros), BNP Paribas (1.94% to 32.25 euros), Credit Agricole (0.97 to 5%, 80 euros), Axa (0.80% to 10.10 euros) and Natixis (0.55% to 2.55 euros).
• EADS (-0.85% to 21.69 euros)
The group is ready to dip deep into a war chest of $ 16 billion (11.3 billion euros) to finance its expansion in the U.S. and is in preliminary discussions with several potential targets, said Wednesday its chief executive for North America.In addition, the European missile manufacturer MBDA, in part by EADS, would be forced to reduce its workforce by 400 jobs by 2015, according to La Tribune.
Airbus, a subsidiary of EADS, is also considering a third increase its production capacity in one of its scenarios for 2018 to meet demand, the success of the A320 Neo scarce slots delivery before 2020, The Tribune reported Thursday.
• TF1 (0.87% to 10.43 euros) and EuropaCorp (stable at 3.29 euros)
The two groups announced Wednesday the signing of a Framework Agreement for development to produce the series in English for television.
• Ipsos: -1.36% to 27.13 euros
The group has launched a capital increase in cash of approximately 200 million euros to finance the purchase of Synovate.
• GDF Suez: -0.22% to 20.44 euros
The group will transfer to the Italian ENI participation of 10.4% in gas fields in the North Sea to pay off debt, reported Thursday Les Echos.
• Technip: 2.06% to 67.25 euros
In consortium with National Petroleum Construction Company (NPCC), the group won a contract worth about $ 500 million for engineering, procurement and construction of the project Satah Full Field Development, a field located 200 km northwest of Abu Dhabi (UAE).
• Sanofi: 0.54% to 50.19 euros
Genzyme, the biotechnology laboratory of the U.S. bought by the French group, was unable to deliver its drug Fabrazyme in August, although it promised to doctors and patients to meet this deadline. U.S. regulators have made public Wednesday letters from Genzyme dated August 26 and 25 where the laboratory apologizes to its customers and for people with Fabry disease, a rare genetic disease, for "any confusion and disturbance "caused by the delay.
• France Telecom: 0.37% to 12.19 euros, Vivendi: -1.06% to 15.89 euros
The new tax passed by the government as part of the new austerity plan should give priority, penalize these two groups, according to Les Echos. France Telecom should be paid to these measures between 300 and 500 million.Vivendi would see him, his taxes increased from 250 to 400 million.
Next recommendation goes to Credit Suisse under-performance against neutral Ipsen (-0.41% to 22.85 euros). Societe Generale goes with the purchase of Biomerieux (2.09% to 71.40 euros).
This is doubly reassured investors that the deal the week. By Ben Bernanke's speech Friday, but ultimately the impact of lower than expected Hurricane Irene passed over New York yesterday.
Shortly before the start of the meeting on Monday in New York, the index futures Standard & Poor's 500 and Nasdaq 100 advanced 1.11%, respectively, to 1187.50 points and 0.94% at 2184.25 points. The Dow Jones was meanwhile expected to rise from 0.82% to 372.5 points 11.
The reaction of U.S. markets to long-awaited speech of Ben Bernanke, head of the powerful U.S. Federal Reserve (Fed), will eventually in two stages.A slight disappointment that quickly gave way to a clearer optimism which plainly overtime on Monday.
The Dow Jones above 11,000 points
According to analysts at Aurel BGC, the announcement by Ben Bernanke, a two-day meeting in September to study in detail the possible deployment of new monetary tools, reassured. "Either the recovery of economic activity is growing, or the central bank will implement new support measures, they summarize. Under these conditions, the U.S. indices rebounded sharply after the speech of Ben Bernanke. "
In fact, fell below the 11,000 points while the Fed chairman began to speak, the Dow finished at 11 284.5, up 1.2% on Friday night.A final increase, which encouraged European stock markets bounce back on Monday morning, except in London, closed due to holiday.
Two indicators will be stalked in the eye of investors on Monday, with, at 14:30, before the opening, income and consumption of American households for the month of July. It should show a slight increase. This will be followed at 16:00, the promise of home sales for the month of July, which are expected down 0.1% from a consensus of analysts, against 2.4% rise previously.
No major publication is expected on the business side.
The measures announced in mid-August by Angela Merkel and Nicolas Sarkozy are now entering into their implementation phase, wanted to highlight this weekend the Minister of Economy, Baroin, in an interview published in the Journal du Dimanche.
Franco-German work beginning to bear fruit. On the harmonization of corporate taxes first. Baroin said that the proposals on a plate and a single rate in France and Germany are on the table in 2012, for implementation in 2013. "In practice, we expect an early convergence of the supplementary budget in September," said the minister. Impossible, however, as to what are currently the preferred paths to achieve such convergence. If, for example, the corporate tax will fall in France, or if it will increase across the Rhine.
The tax on financial transactions discussed in G20
The terms of the tax on financial transactions announced on August 16 by Angela Merkel and Nicolas Sarkozy also remain mysterious. "What is the basis used? Rate? Who receive income: the Commission, the States? We have not finalized the position on this issue ", said Minister of Economy, Baroin, in an interview published this morning in the Journal du Dimanche.
The German Minister of Economy Wolfgang Schäuble and his French counterpart have yet met last week, including to clarify the contours of the future tax, the timing is tighter. As originally announced by the Franco-German tandem, a first draft of the text should be proposed to the European Commission in the coming weeks."We are preparing a specific proposal that we send to the Committee in September," Baroin repeated the weekly.
Delicate negotiations
A timing that will allow the Commission to bring to the table a legislative proposal on the subject in early October, which will integrate the conclusions of the Franco-German couple. "It will be examined in the fall. We are determined to achieve results at the G20 3 and 4 November in Cannes, "said the minister. So much for the calendar. So far, the European Commission was considering the track instead of a 0.1% tax on transactions involving stocks or bonds, and 0.01% for those on products.
The adoption of such a tax at the European level is difficult, however, regardless of the arrangements envisaged.The unanimous agreement of the 27 states should indeed succeed the vote the proposal by the European Parliament. But Britain, which houses an important financial center, as well as Ireland or Luxembourg, are currently strongly opposed. Main question, the financial sector also protested against such a hypothesis, arguing the risks of travel to areas of the transactions tax warmer.
Caution prevails at the Paris Stock Exchange on Thursday. After starting this crucial day for Europe in the green, the CAC 40 lost 0.63% to 3731.02 points an hour after opening. The London Stock Exchange lost 0.94% to 5844 points and the DAX index of the Frankfurt Stock Exchange loose 0.17% to 7209 points.
As with other global exchanges, all operators will have the eye to Brussels where to begin 1:01 p.m. at the extraordinary summit of the leaders of the euro area. They have an obligation to find a solution on a new plan of aid to Greece if they want to prevent contagion from the debt crisis. Angela Merkel and Nicolas Sarkozy on Wednesday reached a common position on the new financial rescue plan and a private sector participation.The content of the agreement between the German Chancellor and French President was not specified but to do so, it took seven hours of talks "very tight" in Berlin, according to members of the French delegation.
The two leaders called on mid-term president of the European Central Bank, Jean-Claude Trichet, to join them in Frankfurt, suggesting that the compromise has its support. José Manuel Barroso, President of the European Commission launched Wednesday a warning more serious than usual to the leaders of the euro area.
Obama confident
The announcement of the agreement led to a rebound in the euro against the dollar. The single currency is worth 1.4265 dollars in morning trading. Oil prices were also up, supported by market expectations of seeing the debt crises lead to solutions.A barrel of "light sweet crude" for delivery in August took 28 cents to 98.68 dollars and that of Brent North Sea crude for September delivery took nine cents to 118.24 dollars.
United States, President Barack Obama received Wednesday several leaders of Congress and the White House has once again expressed confidence in a political solution to the crisis of debt before August 2, to avoid a default. "I expect us to find a solution," the president said in an interview with local TV KMBC Kansas City, renewing his call for compromises from both sides, whether its Democratic allies or his Republican opponents.
Rafale indicators
In addition to the meeting, the markets should observe the indicators that will be published on both sides of the Atlantic.In France, the composite PMI, which includes industry and services, is version 52.8 "flash" from 54.9 in June. "The financial crisis of 2008/2009 aside, the latest survey data suggest lower growth in overall activity since the third Gulf War in 2003," said Jack Kennedy, economist at Markit.
Activity in the private service also slowed against all odds in Germany in July to its lowest in two years, according to preliminary results of the survey Markit. The composite PMI stood at 52.2 in both "flash" against 57.3 in June.
United States, the day will begin with the weekly jobless claims. It will be followed index of home prices in the Federal Housing Finance Agency (FHFA), the index of manufacturing activity Philadeplhie Fed, then the index of leading indicators.
China's manufacturing activity shrank in July for the first time last year, registering its largest decline in 28 months, according to preliminary PMI HSBC published this morning. PMI Purchasing Managers calculated fell to 48.9 against 50.1 in June, the lowest level for this indicator since March 2009. This new atmosphere was sealed on the Asian markets.
Values to follow
Banking
Banks eagerly awaiting the end of the EU summit. Their participation in the rescue of Greece is at the heart of the debates. Moreover, the institutions of the European Union will face fines of up to 10% of their net banking if they do not meet new international requirements for capital and liquidity, said Michel Barnier.
For now, Societe Generale (2.24% to 36.80 euros), Credit Agricole (1.92% to 8.98 euros), Natixis (1.50% to 3.24 euros), Axa ( 1.43% to 13.84 euros) and BNP Paribas (0.80% to 47.33 euros) are among the highest increases in the ACC
EADS: 0.10% to 24.81 euros
Airbus is ready to look "seriously" the increase in the production of single-aisle A320 to carry it beyond the already record a goal, but has not so far committed to this, its president said Wednesday Excecutive.
Eutelsat: 0.06% to 30.81 euros
The Strategic Investment Fund (ISF) on Monday rejected a proposed takeover of Eutelsat joint push by the Spanish Abertis, reported Thursday the newspaper Les Echos.
The benefits of Publicis climb
Plastic Omnium: 5.23% to 24.76 euros
The Group expects a net profit in 2011 "strong growth" after a rise of 26% in the first half to 91.4 million.
Publicis: -3.75% to 36.42 euros
In the first half, the Group generated revenue of 2.7 billion euros in organic growth of 7.1%, exceeding the expectations of analysts whose estimates ranged from 6.2% to 6.5%.
Remy Cointreau: 3.97% to 60.51 euros
The group reported a turnover of 198.6 million euros in the first quarter organic growth of 22.5%.
Unibail-Rodamco: 1.48% to 154.35 euros
The group said it had signed for 1.1 billion euros of asset sales in the first half and accelerated its development plans after reporting an earnings growth supported by its recurring rental income.
Ubisoft: 4.97% to 6.21 euros
The group announced that its sales better than expected first quarter gross margin should support a few days after being heavily penalized by the stock market concerns about future profitability.
Mersen: 3.75% to 40.22 euros
The group released a turnover up 17% in the second quarter, supported by sales in solar activity, which is the group to provide a statement of objectives for the entire year.
APRR: -0.11% to 46.80 euros
The group announced it had recorded a traffic decrease of 0.8% in the second quarter 2011, impacted by the decline in light vehicle traffic.
Cegid: 0.05% to 20.90 euros
The group reported a 32% decline in net profit in the first six months of the year to 4.8 million, despite a 5% increase in sales. The publisher of management software specialist said that last year, accounts for the first half was boosted by a reversal of provision for risk.
After finishing the week on a positive note, despite a weak local situation and the major Japanese business confidence low, Asian markets begin again the week on an optimistic note clearly. All financial markets were on the upside on Monday, reassured by the release this weekend of a new tranche of loan to Greece. Saturday, the Eurogroup has approved the payment of its share of a slice of 12 billion euros to Greece, as part of the rescue plan 110 billion euros last year decided by the European Union and International Monetary Fund (IMF).
More good news received by the markets, the ISM manufacturing index in the United States came out up to June reflected an acceleration in activity, while analysts had forecast a further slowdown.Also signs, as Asian investors, the slowdown in world's largest economy, drawn by a series of disappointing statistics in recent weeks, would in fact be temporary.
In Tokyo, the Nikkei 225 index ahead 1.4%, to 10,003.90, breaking the psychological threshold of 10,000 points, he had abandoned two months ago, May 5 This good news came from overseas mainly benefit exporters, including, Honda (3.2%) and Toyota (1.7%). For its part, the specialist electronics Panasonic clinching 1.2%.
In China, in this context of widespread optimism, the announcement yesterday of a decline in the PMI services in the Middle Kingdom is passed almost unnoticed. According to the China Federation of Logistics and Purchasing, it fell from 61.9 in May to 57 June, within the scope of monetary policy more strictly local.Not enough to shower the good mood in Shanghai, where the CSI 300 ahead 2.25%, to 3118.44 points while the Hang Seng of Hong Kong wins more timidly 1.82% to 22,806 points.
On other financial markets, the Taiwan TAIEX Index advances 0 free credit score.53% at 8785, 71 points, while in South Korea, the KRX's 100 biggest advance values of 1.27% to 4568.44 points. In Australia, the S & P / ASX 200 rose 0.74% to 4625.10 points. Finally, India and Singapore stock exchanges are also in the green, the BSE Sensex and the FTSE Straits Times advancing 0.79%, respectively, and 0.69%, to 18,911.60 points and 3160.76 points.
The election results pleased investors in Thailand
In Bangkok, the victory Saturday in the legislative elections of Yingluck Shinawatra, the sister of former prime minister in exile, Thaksin, has generated euphoria in the markets. The SETI Bangkok jumped 3.52% to 1078.15 points.Although new to politics, the first woman to lead this country in Southeast Asia has the aura of his brother, who leads the opposition from Dubai. Monday, the Thai army accepted the landslide victory of the opposition, already trying to consolidate a comfortable majority with the support of minority parties.
Oil prices were on the upside Monday in electronic trading in Asia after the green light from EU ministers on the release of aid for Greece. In morning trading, a barrel of "light sweet crude" for delivery in August took 20 cents to 95.14 dollars. That of Brent North Sea crude for delivery gained 19 cents to equal 111.96 dollars.
On the currency front, the gradual easing of tensions on the financial position of some European countries did not take long to emerge, largely repeating the euro against the yen and the dollar.At 1:00 Paris time, the euro was worth 117.71 yen against 116.85 yen the day before, and 1.4529 dollars, against 1.4494 dollars the previous day.
For the second consecutive year, neither the first nor May 8 to do the bridge in 2011! Labor Day and the commemoration of the armistice of 1945 had fallen on Saturdays last year and this time it's a Sunday.
The timing, thus depriving the French of long weekends or days off, he is at least good for growth? "Sure, in theory, the more days worked, the more activity, purchases, consumption, etc.. There is an effect on the raw data, "said Vladimir Passeron, Division Chief of the quarterly to the INSEE. In fact, France will work more during the month of May, which did not include bank holiday week, the production system will run more than a year so classic.
But it will not be visible in the figures for second quarter growth to be published this summer.Because the National Institute of Statistics and Economic Studies anticipates and smooth the data "in the discipline of working days" and structural effects, says the expert.
Three Saturdays worth a weekday
This correction is not performed when calculating annual growth. Therefore, the sum of the quarterly is not equivalent to the annual accounts! However, it should not be a macroeconomic impact on GDP 2011, relative to GDP 2010 cash advance america. Last year there were 254 days of the week (Monday-Friday) working, there will be only 253 this year. But if the May 1, 8 May 2011 and Christmas fall on a Sunday, the holiday fell on a Saturday in 2010. Gold worked three Saturdays "compensate" a weekday break, says a study by the INSEE.
The timetable "should not impact the annual growth between 2010 and 2011," concludes INSEE.At best, it would have a positive impact of 0.06 percentage point of GDP, at worst a negative point of 0.06. Only the thickness of the line!
Nevertheless, there are years when the holidays can impact less significant. "The growth differential can be up to 1 tenth of a point or more, is Nicolas Bouzou, economist at Asterès. We also know that the years with few working days result in distributional effects across sectors, to the detriment of the industry by example and benefit from tourism. "That will not happen this year.
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"In 2011, the month of May will be no holiday
Small volumes of trade and wait. This could be the profile of the session on Wall Street Monday. After closing up on last Thursday (Friday was a holiday), the New York Stock Exchange opened almost flat on Monday. In mid-session, the Dow Jones lost 0.27% and the Nasdaq gained 0.03%. The volumes were nevertheless remain modest, while the main markets are closed Monday in Europe because of the long weekend for Easter.
The barrel began to increase its share to over $ 113 a barrel to 15.15. The "light sweet crude (June delivery) traded at 113.25 dollars, up 96 cents from Thursday.
Investors should remain cautious earlier this week, pending statements from Fed Chairman Ben Bernanke on Wednesday.Forecasts of inflation and economic outlook: new publications the U.S. central bank should be explained at the first press conference after the meeting of the Governing Council. On the other hand, the first official estimate of GDP for the first quarter will be published Thursday.
Side companies, Ameriprise Financial, Johnson Controls, Kimberly-Clark and Radioshack should publish their results before-hours trading. The distributor of electronic products RADIOSHACK posted a quarterly profit of $ 0.33, $ 0.35 cons expected by the consensus. The turnover stood at 1.06 billion dollars as the anticipated 1.07 billion consensus.
On the other hand, NIKE could see its stock price reached a new high over the next 18 months if the OEM is able to raise prices without adversely affecting sales, according to investors cited by the magazine Barron's. After the record high reached last year to 92.49 dollars, as Nike declined to $ 80, due to the rising cost of oil, cotton and labor. On the other hand, the bank Wells Fargo has raised its rating on the pharmaceutical company Johnson & Johnson "market performance" to "outperform."
Finally, the title of the Chinese search engine Baidu might be heckled. The Chinese government will punish the search engine and 13 other sites for allowing illegal music downloads, reports the official Xinhua News Agency. No details on the nature of the sanctions has been published.According to Xinhua, the sites in question have left online illegal content despite several warnings from the authorities.
The course from Advanced Micro Devices (AMD) could also be active on Monday. The computer chip manufacturer announced Thursday after-hours trading that its net income had doubled in the first quarter quasimment. SanDisk also announced on Thursday its results for the first three months of the year, slightly down from last year. PG & E for its part, announced the sudden departure of its CEO Peter Darbee.
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"The U.S. recovery is facing more uncertainties
