After ending a series of five consecutive sessions of decline Wednesday, the Paris Bourse is expected to continue into the red on Thursday. In the wake of the Asian markets this morning, the CAC 40 should reserve an icy about Ben Bernanke on the U.S. economic recovery. Judge it still too slow and the outlook remains uncertain, paving the way for new measures to support monetary policy. These ads were yesterday meant to topple the Red Wall Street, while the American stock market was moving in the green throughout the session.
This Thursday, new indicators are expected in the United States. In early afternoon, the Labor Department will release weekly listings for unemployment benefits. Next came home resales and the composite index of economic activity in the month of June.In France, INSEE unveil its monthly business survey in industry and business climate in July.
Investors also await with anticipation the release Friday of the results of resistance testing What happened to the European banks. In an interview with Le Figaro, the Minister of Economy Christine Lagarde said she was "totally confident" about the results of French banks.
Banks and cars to monitor values
The banking sector will be monitoring this particular Thursday, the eve of the results of stress tests of European banks. So far, BNP Paribas, Societe Generale, Dexia Crédit Agricole or have stood the wait.
Another sector with a view: the car.The supplier Faurecia announced before the market coming out of the red in the first half of 2010, net income of 102 million euros against a loss of 365 million a year earlier. The group has also sharply raised its guidance for full year credit score. Peugeot and Renault should react to this new optimistic that counterbalances the announcement of a sharp decline in car registrations in Europe in June
Still on publications, Remy Cointreau announced a turnover in the first quarter of 2010-2011 of 170 million euros, up 23.6%. The group will propose a dividend of 1.30 euro to the general meeting of July 27, 2010.
Plastic Omnium has expressed a net profit of 72.3 million euros in the first half against 8 million euros a year earlier.Turnover amounted to 1.518 billion euros and the group expects a second half "dynamic".
Technip issued a decline in net income of 8.7% to 106.1 million euros for a turnover down 14.3% to 1.48 billion euros. The objectives are confirmed.
Naproxcinod of Nicox rejected the U.S.
NicOx could be heckled. The FDA, the authority of medicine in the United States, has rejected his request for the U.S. market Naproxcinod of this treatment against osteoarthritis, a product NicOx expects a lot.
Unibail-Rodamco Wednesday decided to distribute 1.8 billion euros to its shareholders, or 20 euros per share in respect of a return of capital. The land has issued a recurring earnings per share of 4.70 euros in the first half of 2010.The band reveal all its first-half results after market close.
NRJ said Wednesday sales fell 0.6% in the first half of 2010, 165.2 million euros, penalized by the decision of the musical Cleopatra.
Pernod Ricard, Bongrain and Ubisoft will also release after the market closes.
Note that Novagali be rated for the first time at the Paris Bourse. The price was set at 3.40 euros per share.
A draft "courageous, necessary and just." After the day of action against the pension reform, which drew between 797 000 and nearly two million people across France, Economy Minister Christine Lagarde, has defended the government's project on air in France Inter Friday. "Our priority is to protect the retirement plan division," she insisted.
While Prime Minister Francois Fillon has expressed this morning, Christine Lagarde said that "the government is not obtuse", and that "dialogue will continue. Discussions will be limited to "some point" in the text of the government, confirmed the minister."President Nicolas Sarkozy said on the issues of hardship, of polypensionnés and long careers, there is room for negotiation," she added.
"The message we give is our determination to continue to reform in serene courage and wherever necessary," said Christine Lagarde, who emphasized "the urgency" of the situation of public finances France. Asked about the signal that the French government would provide the markets with pension reform, Christine Lagarde did not deny the need to 'send a message of safety "for those who invest in the" France risk. However, the triple-A rating enjoyed by France, which is the best possible debt rating is "stable," Plassnik said.
Safeguarding the employment of older
While the unions believe the government bill "unfair" to employees, the minister said on France Inter radio that "high income will contribute" to the overall effort while "capital income will be taxed" payday loans . She also stressed the government's job to safeguard the employment of older workers. Two directions are preferred, namely training and alternate agreements with the companies on hiring senior employees.
"Delaying the age of retirement must be accompanied by measures to prolong the careers of seniors," the minister reiterated. According to figures released Thursday by the employment center, the seniors have been recovered on May 1 sharp increase in their number of registered unemployed (ranging between 1.3% and 1.4% by categories).That was several months that such progress had been achieved.
The discussion of the severity and recovery
For Christine Lagarde, these figures are "bad". And all the more reinforces the government's reform policy. A policy which it defines as "a subtle exercise" between the need to support recovery and the imposition of austerity measures. "On one hand, it is engaging the major investments planned under the Big Loan. On the other side, be careful not to spend any how, "says Minister of Economy.
A debate that should rightly be exported this weekend in Toronto at the G20 summit. Recovery plans for growth and fiscal restraint? The choice to divide Europe and the United States, the International Monetary Fund and World Bank.Relativizing discord among summit participants, Christine Lagarde nevertheless called for a "more collective work.
ALSO READ
"Pensions: hundreds of thousands of demonstrators
"Pensions: the" developments "possible by September
For its centennial, the fund invests Strategic Investment (ISP), launched there just eighteen months, has chosen to support CGG Veritas. This intervention takes place through the acquisition of the group's shares listed in Paris and New York, up from just over 170 million euros, or 6% of capital. The fund, which became the largest shareholder of the company, ask an administrator to the council table. "This is a significant commitment of ISPs, says Gilles Michel, Director General of public funds. One of our three missions is to strengthen the capital of companies listed on major technological potential. Upon entering the capital of CGG Veritas, we conduct our sixth investment of this type. "
This, incidentally, the third stake in an oil company, after Vallourec and Technip.With a market capitalization of 2.7 billion euros, CGG Veritas is smaller than the other two groups supported by the funds, but the company employed 7,500 strong positions in its areas of specialty. It is a world leader in providing services in imaging for identifying hydrocarbon reserves, both onshore and offshore, it is also the world leader in seismic equipment.
"We are proud to be regarded as a business with great potential by the ISP, and it does not mark a turning point for the company, but it will allow us to further develop the technology to improve the image of the basement" , commented the President of CGG Veritas, Robert Brunck.
Long-term shareholder
The entry of ISPs also aims to secure a capital highly fragmented.IFP (French Petroleum Institute), long the largest shareholder, holds only 4.2%. And the company has 700 funds in its capital.
With the strategic fund, about 10% of the capital are now in the hands of public shareholders and long term. "The presence of ISPs in the capital makes CGG Veritas attractive for other long term investors," said Gilles Michel. For him, securing the capital enables these dynamic companies to focus on growth rather than spending time managing financial issues.
Problem even more crucial that CGG Veritas is an average actor in a sector parapetrolic won by a movement of concentration. Schlumberger has made two acquisitions in quick succession.The industry giant has launched at the end of winter a bid of 11 billion dollars on Smith International, before you spend a few weeks later, one billion euros to afford the French Geoservices. Many observers consider that competitors, including Halliburton, would replicate …
In continuation of Tuesday's session that saw the CAC 40 index registered its biggest drop at the closing for over a year the Parisian markets should continue to be more cautious as this Wednesday. The CAC 40 index opened down 0.76% to 3815.39 points.
The euro continued to exchange at its lowest level in a year against the greenback on Wednesday in Tokyo, under pressure from concerns over public deficits in Europe, including Greece and Portugal. The euro was at 1.3167 dollars, its lowest level since April 29, 2009.
Bank stocks back in the spotlight
Once again this will most banking stocks to watch, after they posted the largest declines the CAC 40, Tuesday.Natixis Private Equity, moreover, has changed its CEO, while Natixis has closed the sale of its subsidiary equity firm AXA Private Equity.
Investors will also follow the values and Renault cars, after the manufacturer announced an increase of 28.4% of its turnover in the first quarter.
Other companies on Tuesday, Unibail-Rodamco – sales were down 0.9% in first quarter 2010 – Seb – up 10.9% of sales at constant exchange rates – and CFAO, a subsidiary of PPR – decrease in sales of 2.5%.
On Wednesday, Rhodia has posted a profit of 69 million euros for the first quarter of 2010 and a turnover up 23% to 1.176 billion euros.
Dassault Aviation displays a turnover up 50% to 821.4 million euros in the first quarter of 2010 pay day loan quick.
The reinsurer Scor has divided by three to 36 million euro net profit in the first quarter of 2010.
Followed after-hours trade turnover of the first quarter of PPR.
Air France-KLM's return to Madrid Stock Exchange, Thursday, the company will report Amadaeus travel reservations at best 210 million euros to Air France, which holds 23.1% stake, the newspaper La Tribune.
Alstom is part of a consortium that participates in the tender for the construction of a subway in Panama, a project of 1.5 billion, told Reuters the country's ambassador in Paris.
Vivendi said on Tuesday it held 99.17% stake in Brazilian operator GVT at the end of the auction process conducted as part of its bid.
Group OL: Olympique Lyonnais football club owned by OL Groupe, was eliminated Wednesday night in the semifinals of the Champions League, beaten 3-0 at home to Bayern Munich.
A decision on rates by the Fed
On the macroeconomic front, the news will be especially marked in France by publishing the number of corporate failures in November 2009 by the INSEE.
Overseas, investors monitor stocks around 16:30 weekly crude oil and the statement that the Fed will issue to 8:15 p.m. on interest rates. In all likelihood, it should announce it will keep.
LE FIGARO. – In late 2006, EADS gave the go-ahead to the A350 XWB for its first delivery in 2013. Where is this program? The timetable will be respected there?
Didier Evrard. – Developing a new aircraft is flying a program of high technology, so managing risk. And there, on an ambitious project which has as many technological innovations, particularly with 53% of composite materials.
Until the end, it will be a marathon, and we have to face challenges. When we encounter problems, we find solutions. In 2009, I decided to give three months more to our team compared to the original schedule, for some elements such as design, or for critical parts such as the junction between the wings and fuselage and the points where systems will be hung in the carbon fuselage.This decision reduced our margin of safety and caused a delay of three months to start the final assembly plant in Toulouse, in the third quarter of 2011 instead of the second quarter of 2011. Part of the margin for flight testing has been "consumed", and we have redefined the planning of these tests over 12 months.
Can there be a delay of the delivery schedule?
No, this does not affect the first delivery is scheduled for mid-2013 with Qatar Airways, one year after the start of flight testing and certification campaign. We entered the second phase of the program, the manufacturing and kitting.Steps have been taken to secure this crucial stage.
Which exactly?
We have built physical models and demonstrators that enable teams and our industry partners to train, whether in Broughton for the wing to the fuselage in Hamburg or in Nantes where employees of our subsidiary Aerolia M?aulte train on the manufacture of composite parts first cash advance payday loan. We worked on the ramp-up production, which will start in 2013, reaching ten A350 XWB monthly maximum activity. It is a difficult phase because while assembling the first aircraft, we continue their development during flight tests.We have taken steps to be able to integrate at this stage, changes.
No wiring problems for the A380 like?
No. The A350 XWB is the first aircraft from the "New Airbus", an integrated company has consolidated its industrial organization through Power8. Once the development phase, the program was conducted by an organization with its integrated and transnational centers of excellence: fuselage, cabin, composite … From the beginning, 1,000 engineers from across Europe have worked together on a Toulouse "plateau" central to the definition and harmonization of methods and tools. All facilities use the same machines, the same types of tools, consulting firms use the same tools for planning and design (PLM to manage the complete cycle of the product). Meanwhile, we have overhauled our relationships with our suppliers.We have assigned 50% of the aerostructure instead of 25-30% previously. Our suppliers have systems for their part received lots of work with more complex integration of sub-assemblies.
ALSO READ:
»Airbus A350: the countdown is activated
The joint venture created by EDF and Enel of Italy, has signed a partnership agreement with Ansaldo, the nuclear branch of the Italian group Finmeccanica. This five-year partnership provides for cooperation between the alliance and Ansaldo "for the development and construction of 4 nuclear reactors that EDF and Enel EPR planning to build in Italy" says EDF.
For its part Areva said it had signed three agreements with companies in Italy on Friday. The first agreement, signed with Ansaldo will enable both companies to work together in Italy, under the planned construction of four reactors conducted by ENEL and EDF, but also in the rest of the world.This partnership will result in particular through cooperation in the engineering, supply of certain equipment and assembly work and testing of commissioning.
The second agreement, signed with Techint, a group specializing in engineering and construction of large industrial facilities, provides for cooperation of two companies in future nuclear projects turnkey projects in the world fast cash now.
Finally, a training agreement was signed with the university consortium for research and nuclear technology (CIRTEN). It provides the contribution of Areva to develop new nuclear industrial capabilities in Italy.
These agreements come as the annual summit between France and Italy takes place in Paris, where Nicolas Sarkozy and Silvio Berlusconi, the Italian prime minister, meet.The purpose of these agreements for EDF and Areva is to be in the running for the revival of nuclear energy in Italy from 2013.
Italy banned nuclear power in 1987 following the Chernobyl accident. But this year, a decree established a timetable for the construction of new reactors began in 2013. Silvio Berlusconi, had expressed a wish that 25% of the electricity produced in Italy comes from nuclear reactors.
ALSO READ:
"Nuclear cooperation between France and Italy
"Nuclear: Italy is an operational EPR 2020
"EDF and Enel will build four reactors in Italy
Observed by the whole world, the trial Rio Tinto, which opens Monday in Shanghai, is the culmination of nearly a year of trade tensions between China and the mining giant Anglo-Australian Rio Tinto. This will also be a political test for Beijing, which has promised transparency.
Four employees of Rio Tinto appear from Monday for "corruption" and "theft of trade secrets": the Australian Stern Hu, head of the Shanghai office of Rio Tinto, and three of his Chinese collaborators. Upon their arrest in July 2009 in Shanghai, they were accused of stealing state secrets, that is to say, highly sensitive information on China's position at the negotiating table on ore prices iron.
Since the beginning of the Rio Tinto trade negotiations and lawsuits strangely coincide.The arrest of Hu Stern and his staff intervened when the negotiations on the price of iron ore were being ruined and one month after the rejection by shareholders of Rio Tinto increased participation of the giant China's Chinalco aluminum in the group's capital.
Partnerships in Africa
Earlier this year, announcing the end of the investigation fell when the price negotiations for the year 2010-2011 debuted without China. Like every year, the big mining groups that dominate the global market – Rio Tinto, both Anglo-Australian BHP Billiton and Brazil's Vale – agree with their key buyers – Japan, China, Europe – a price for the year starting April 1.But the mining groups have decided this time to discuss first with their Japanese buyers.
Last year, Chinese steelmakers were on a very firm position. No agreement had been reached. Steelmakers had ended up paying the market price, 80% over prices negotiated. This year, the talks heated still ahead. Miners might seek to secure increases of 50% to 90%, according to sources. Higher difficult to accept for the Chinese steelmakers.
But Rio Tinto hopes to continue its business in a country that became the main destination of its exports last year, with 24.3% of sales. The Anglo-Australian multiplies friendly gestures. A new head for China and was appointed last month. The choice of Ian Bauert is not trivial.This sinophile and sinophone was created in mid 1980 the first office of Rio Tinto Republic. For his part, Tom Albanese, CEO of the group, arrived in Beijing Sunday to attend an economic forum.
Last week, his company signed a partnership with the giant Chinese aluminum, Chinalco, for an investment in a mine in Guinea. According to the Australian press, discussions are also underway for projects in Mongolia and Australia.
After playing the "yo-yo these days, the CAC 40 continues to move closer to 4000 points. So much so that the index confirms its Paris flagship positive trend since the beginning of the year (0.46%).
This is especially gradual return to the announcement of the Fed to keep "for a very long time" rates to very low levels, to continue to support economic recovery. However, after climbing from 1.23% Tuesday, the progression of CAC 40 slows, the Paris index advancing by 0.54% to 3960 points.The London Stock Exchange evolved also in the green mid-term review, the Footsie-100 index rising 0.52% to 5649 points while the Dax in Frankfurt Stock Exchange advanced 0.76% to 6016.5 points
Deficit: 14 countries of the EU under scrutiny
Investors keep an eye on the report published by the European Commission on evaluation of efforts to reduce deficit of fourteen countries of the European Union, including France, the United Kingdom, Germany and Spain. The Director General of the International Monetary Fund, Dominique Strauss-Kahn, should also deliver a speech to Parliament.
On the macroeconomic front, start-ups in France jumped 12.9% in February compared to January, with a record 57,748 new businesses created, "INSEE announced Wednesday.They were down 8% in January.
Across the Atlantic, are scheduled this afternoon, the producer price for the month of February and the weekly inventory of crude oil. Moreover, the Organization of Petroleum Exporting Countries is scheduled to meet Wednesday in Vienna.
Alcatel-Lucent plunges
Atos Origin (-3.05% to 36.36 euros): According to a report in Le Figaro, the group covets a giant electronic payments be for sale by Royal Bank of Scotland.Thierry Breton, CEO of Atos Origin has declined comment.
EADS (-0.92% to 14.50 euros): Nicolas Sarkozy and Angela Merkel expressed once again concerned about the conditions of the bidding for the tanker market in the Air Force American and urged the United States to resist protectionist temptations cash advance in one hour .
Other values down this Wednesday, is Alcatel-Lucent. The group has been a decline of recommendation by analysts at Goldman Sachs from "buy" to "neutral." The Alcatel-Lucent shares decline by 2.09% to 2.48 euros.
Bourbon honor
Mr Bricolage (5.15% to 14.10 euros) has announced an increase of 23.8% of its 2009 operating profit at 39,7 million with a turnover of 547.5 million (+6.2% ).Net income, group share, in contrast to declining 36.1% to 21.4 million, while fiscal 2008 incorporated a capital gain of 14 million.
Stallergenes (+1.93% at 58.20 euros) Tuesday reported an increase in its results, its dividend and its cash in 2009 and has said it expects an increase in its margins and its activity in 2010 with the lower costs of studies on the product Oralair desensitization.
JC Decaux (+0.84% at 19.70 euros): the rating agency Moody's raised its rating outlook to stable from negative cons before.
Publicis (+1.16% at 30.99 euros): Members of the Executive's advertising group gave up their bonuses for 2009.This decision relates to Maurice Levy, chairman of the group, and David Kenny, Jack Klues, Jean-Yves Naouri and Kevin Roberts.
Bourbon (+9.30% at 29.34 euros): the marine services group announced Wednesday a net profit of 155.4 million euros in respect of 2009, against 224.4 million in 2008. It is therefore a decrease of 30.8% in 2009.
After market, Ingenico (+0.35% at 17.36 euros), Dassault Aviation (-0.96% to 546 euros) and Hi-Media (-0.53% to 5.68 euros) will publish their annual results, and GFI Informatique (-0.34% to 2.90 euros) results for fourth quarter 2009.
The NYSE has hesitated. It finally ended in the red on Wednesday. After rebounding said yesterday (1.52%), the Dow Jones lost 0.20% to 10,038.38 points. The Nasdaq lost 0.14% to 2147.87 points and the S & P 500 fell 0.22% to 1068.13 points.
The wait dominates before confirmation of support from the European Union to Greece. Investors await the meeting of European heads of state tomorrow Thursday after which a European financial aid for Greece should be announced. But doubt persists. "In general there is a senior, anonymous was quoted as source. Translation for everyone is that this information should be taken with caution, "says Patrick O'Hare of Briefing.com financial site.
In the final meeting, the Spanish Presidency of the EU announced that European countries would give their support to Greece.But the market always wondered how such a help.
In this context, the dollar begun to rise again against the European currency: 1 Euro 1.3726 U.S. dollar traded (-0.37%). Side materials, a barrel of light sweet crude for March delivery ended at 74.52 dollars, up 77 cents from the close of Tuesday.
To these doubts mingles the concern over the remarks of Ben Bernanke. This has not announced any increase in rates, but this solution is considered. The discount rate will he, as the statement implied the rumor in the markets in recent days.
Regarding statistics, the trade deficit the U.S. has continued to widen in December, rising by 10.4% compared to November, while analysts expected him to be reduced."We had numbers of calamitous external deficit, indicating that the economy will experience slower growth in the first quarter than the fourth, it weighs on the market," said Peter Cardillo, Avalon Partners.
Arcelor Mittal battered the United States
Arcelor Mittal, the world's number one steel, said it earned 118 million dollars over the year 2009. But the current financial year looks difficult. The U.S. market (-6.99% to 36.70 dollars) endorse the title in Paris.
In addition, Micron Technology (-5.95% to 8.54 dollars) announced it would buy Holodings Numonyx, a producer of memory cards, for $ 1.27 billion.
The Japanese car saw decidedly dark days. It is the turn of Honda (-2.20% to 33.76 dollars) from Wednesday to recall over 400,000 vehicles, after the Toyota case (1.46% to 75.69 dollars).
Airgas Inc.(-0.07% To 61.31 dollars) has rejected a hostile takeover of Air Products & Chemicals, describing it as "inadequate".
After Hours, Tuesday, Walt Disney (0.74% to 30.06 dollars) has released stable profits over one year to 844 million, or 44 cents per share. But excluding special items, earnings per share were 47 cents against 39 cents expected by analysts.
The bank is not affected by ads for Ben Bernanke. Bank of America (1.38%), JP Morgan Chase (1.25%) and Goldman Sachs (0.75%) support same document.
Dell (+1.48% to 13.75 dollars) has been "upgraded" by Bank of America-Merrill Lynch to buy from neutral.
And Omnicum, a direct competitor of Havas, which was pleasantly surprised by France, issued a profit decline of 87 to 73 cents per share.The title takes 1.42% to 35.75 dollars.
Baidu (10.83% to 482.13 euros) reported a fourth-quarter earnings up 48% to 62.7 million. The competitor Google (-0.37% to 534.45 dollars) in China publishes a profit of $ 1.8 per share.
"After consideration, we will not invest in Areva" reveals Christophe Margerie, CEO and future chairman of Total, in an interview with the first edition of the Journal du Dimanche. After the failure in late December of invitation supply in Abu Dhabi to build two nuclear reactors, which were project stakeholders EDF, Areva, GDF Suez but also Total oil group maintains its draft into nuclear power. But without investment in Areva, whose strategy is now under threat.
"Those who think we lost because of poor organization Franco-French are wrong. (…) Can we make the EPR cheaper without sacrificing safety? This is the real issue "said Christophe Margerie.The EPR French would indeed be 40% more expensive than the South Korean model finally selected by Abu Dhabi.
Needs huge
So as an investor-operator and Total says it wants to enter the nuclear market. In this context, "we want to set up projects with Areva, but we do not exclude mounting other international partnerships," said the CEO.
Asked about the economic outlook for his group in 2010, Christophe de Margerie also appears optimistic. Satisfied with the signing of two important contracts in natural gas, the United States and Algeria, he anticipates the needs of huge new countries: India, China, Middle East and Africa.
