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Dassault Systemes announces quarterly results better than expected. In its statement, the company said it raised its forecasts to reflect the decline of the euro. He is now based on a dollar to 1.40 euro and 130 yen, against $ 1.45 previously and 140 yen

The publisher of software design and computer aided manufacturing, which has seen an improvement in activity on its main brands in the first quarter, posted a profit for the period from 51.3 million euros (+18%) . Returned to action, the net spring 0.43. For its part, the turnover reached 312 million euros, up 1% at constant exchange rates. Sales of new licenses have been particularly strong with an increase of 19%.

Net earnings per share expected between 2.19 and 2.28 euros for 2010

For the second quarter, Dassault Systems * expects net earnings per share in the range from 0.46 to 0.50. The turnover would be between 360 and 370 million and margin of around 23%. Dassault Systemes exceed its own forecasts. As analysts, were their latest estimates show a consensus of 0.37 euros.

For the full year, the group now expects earnings per share of 2.19 to 2.28 euros, a growth of 18% to 23%, from 2.09 to 2.19 euros before cons.

The group confirms its objective of raising 15% to 17% of its annual sales at constant exchange rates, with an operating margin of approximately 26%.

* The Dassault owns Le Figaro.

The card was launched on May 3 to allow punters to play without cash.

Ten months (June 2009, Ed) that the government was waiting for good news on the employment front! The number of registered unemployed at the employment center in group A (unemployed who have not worked at all during the month) has in fact declined by 0.2% in March, representing a decrease of 6,600 people on a months. In total, 2.7 million people were registered in late March in the reference category, an increase of 9.8% over one year.

But the thinning stops there because the number of jobseekers registered in the four other categories increases. And sometimes significantly: +2% in group BC (24,700 unemployed persons who worked more or less than 78 hours in the month), 2.4% in category D (6200 unemployed in training, education or health) to +3 8% in group E (11,400 unemployed in assisted contracts). Worse, over one year variations ranging from 18.3% (Class BC) to + 36.4% (Class E).

"The increase in categories C, D and E reflects both the recovery of Acting as an employment policy more active, more job seekers in training and subsidized contracts," Marie-grade Claire Carrere-Gee, President of the Advisory Council for Employment which welcomed the "significant slowdown for several months" the number of unemployed.

In other words, the social treatment of unemployment is running at full output during the crisis. Difficult, therefore, welcome a decline in unemployment in France (including overseas departments) where 4,130,000 people "required to make positive job search" was recorded at the end of March employment center. 0.5% more than a month ago and 12.5% a year ago.

As usual, most 50 year olds still have suffered in March, with growth still disturbing number of entries: +1.1% in group A and +1.5% in ABC."Without strong political will, these jobseekers were statistically unlikely to rush out of trouble, consider Marie-Claire Carrere-Gee. Passed the fifties, it is very difficult to find work, moreover in an economy that barely found his breath. "And, even more than" half of the unemployed over 50 years are unemployed Long-term, "she insists. Conversely, young shoot for the fifth consecutive month hold their own while benefiting from a decline of between 0.5 (Class ABC) and 1% (A) enrolled.

Lower radiation

Another black spot: the share of jobseekers in employment center for over a year continues to increase (+0.7 percentage points in one month and up 5.1 in one year) to represent 35.3% of registered voters. As for seniority, it reached 415 days on average, an increase of 29 days in a year.In fact, only the registered unemployed for less than a year benefit from the upturn in March with a decline of 0.7% of their enrollment and reduced to 4.1% increase over one year.

As grounds for release of employment center, march to a significant reduction in the number of radiation administration (-7.9% in one month) and a stagnation of terminations for default updating entries (0.8%). The collection of jobs is up 2.9%, including the jobs of more than 6 months were up 7.4% in a month.

His journey to the heights will not stop. The palladium, precious metals and rare platinum family, sees her classes skyrocket since the beginning of the year. Last Wednesday, the metal rose to 551.40 dollars an ounce, its highest level since early March 2008. One that contrasts sharply with that of December 2008, when palladium was quoted at $ 161 an ounce.

The metal was then hit by the crisis in the automotive industry which represents 50% of global demand. But the latter had declined 13% on average in 2009, the decline in other markets (jewelry, dentistry or chemistry) is unrepresentative.

The automotive industry uses palladium for catalytic converters for cars. This silver is resistant to corrosion and most importantly, it has the ability to absorb hydrogen and thus reduce the toxicity of exhaust gases.A key element in a time of anti-pollution standards imposed on the sector. Palladium has also initiated a frank increase in December 2009, when the summit was held in Copenhagen …

China stirs prospects

The increase in auto sales in March in Europe and the United States thus partly explains the renewed interest in this metal. But it is good to the Chinese automotive market as all investors are now looking. China became the world's biggest car market to the U.S. last year, grew its sales by 55.8% yoy to 1.74 million units, registering a new monthly record.

"Platinum is used in catalytic systems for diesel engines while palladium team mainly gasoline cars.Yet it is these that equip the Chinese fleet, "said Arnaud du Plessis, head of the center ring and co-manager of the Fund International Fructifonds Now Natixis Asset Management. The prospects are interesting while the country's auto sector is undergoing renewal. The equipment rate is 8 cars per 1,000 inhabitants, against 502 or 745 in Japan to the United States. There should be more cars in China than the United States in 2020! .

The country, considered one of the worst polluter on the planet, is also expected to increasingly move towards cleaner technologies. "These are the industry perspectives that make the market upwards," says the analyst.

Speculation

Another element of explanation of rising prices is the financial interest that is now the Palladium for speculators.Last January, three index funds based on platinum and palladium have been introduced in Switzerland and the U.S. fast cash. These ETFs (exchange traded funds) allow investors to bet on palladium and platinum without the hassle of bullion.

"These ETFs are attractive in this small market. We have already seen with the gold. For the first time in 2009, the new demand for ETFs has surpassed that of jewelry. In other words, the financial demand has exceeded industrial demand. This could also happen with palladium, "says Arnaud du Plessis. "The precious metals are generally an asset class in its own right, whereas before, this small market was more restricted to industrial.Now, it helps to diversify the portfolio because these metals are not highly correlated with the rest of the market.

The Russian market queen

Investors also expect the risk of reduced supply. The production of palladium is in fact highly concentrated: Russia and South Africa alone is home to 90% of recoverable reserves. Russia has secured a strategic stockpile in the years 70-80 which allowed him to play on the market. Norilsk Nickel, the first world producer of nickel and palladium, has also often been accused of restricting its exports for political purposes. In 2000, for example, it has put on the market 161.7 tons while demand was estimated at 261.3 tons. Today, the size of these stocks is a closely guarded secret by the Russian government, but experts believe it would be very low.

The fear of a weakening of the offer comes as problems faced by South African producers. The weakness of the country's electricity network is anticipating trouble to keep active mines, very energy intensive. In early April, prices surged after the announcement by the British mining group Lonmin, a restructuring plan employee departures in 5500 its mines in South Africa.

Attracted by the potential of palladium, the most marginal American players are emerging. "With rising prices, mining, the extraction is more expensive to go back into production," said Arnaud du Plessis. For the latter, the palladium market should still be stabilizing: "It is close to the top of 2008 with close to one ounce of $ 600. From this threshold, it will be more careful, "he says.Natixis analyst warned: "Market fundamentals still remain bullish, at least as long as no alternative method of palladium for catalytic converters will be discovered. In this case, the impact will be extremely negative. "

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A letter dated end of January, setting the broad outlines of a trade union representation in the territorial commissions after elections in the TPE.

This bill deals with "three great subjects." First, it imposes in firms with fewer than 10 employees on a consultation list at the regional level every four years from late 2012. "This consultation will be through the internet or by mail, confirm there in the entourage of Eric Woerth. And it will affect all employees of small, except those of Agriculture whose election results, chambers of agriculture will be taken into account.In other words, all employees of businesses with fewer than 10 people will vote on the union they feel able to represent them in the territorial commissions, not the names of candidates.

Deuzio, the establishment of joint regional chambers (and the designation of their representatives) is returned to negotiations branch or inter-branch no fax pay day loans. The mission of these committees? "Monitoring and enforcement of collective agreements," says Bill.

Thirdly, the government postponed by two years the date of the next industrial tribunal elections to be held no later than at the end of 2015 and not 2013."There are many elections in early 2014 and we also want to allow time to analyze the recommendations of the Richard report," justifies a collaborator Eric Woerth.

"This is not the priority"

The Richard report, to be unveiled in the coming days, should offer new ways of "designation" of judges prud'hommes. One of the tracks would be considered to remove the election to go through an appointment of counsel based on the weight of each union at national level.Delaying the election of two years and has the advantage of allowing adequate time for governments to measure the weight of each plant under the new criteria of representativeness (will not be representative as the plants that, nationally, have a hearing than 8%).

No doubt this bill will meet the four trade unions signed the letter of intent in December with UPA: CFDT, CGT, CFE-CGC and CFTC. And will be fought by the MEDEF and CGPME rating as "excellent" social dialogue in the current SOHO and do not see the usefulness of measuring the audience of trade unions in the TPE.

"This is not the priority," has consistently indicated Laurence Parisot, the president of MEDEF, for several months.

U.S. stock markets are a small step forward Wednesday. The Dow Jones ahead of a timid 0.06%, while the Nasdaq rose 0.24%. The previous day, the Dow Jones gained 0.23% and the Nasdaq 0.81%. In Asia this morning, the same trend with the Nikkei in particular that ended on a positive note (1.74%).

Apple Earnings blaze

The technology sector benefited from the announcement after market, a 90% surge in net income of U.S. computer maker Apple in the first quarter. Inflated by including a doubling of sales of iPhones, the company's net earnings to net apple exceeds $ 3 billion in the second quarter of its fiscal offset. Turnover was up 49% to 13.50 billion dollars.Apple shares climbed 5.64% to 258.38 dollars.

Also in the technology sector, Yahoo! also published after the close a net profit group share in the first quarter more than doubled on year to more than 310 million dollars. In contrast, the turnover has been disappointing. It increased only 1% to just under $ 1.6 billion. Result: the shares fell sharply from 5.77% to 17.32 dollars.

On Tuesday, the financial sector, for its part, was carried by the strong quarterly results from investment bank Goldman Sachs (1.26% to $ 162), whose future remains clouded by fraud prosecutions undertaken by securities regulators in the United States and Great Britain.The firm has more than doubled its net profit in the first three months of the year to nearly 3.5 billion dollars.

On the foreign exchange market, the euro was slightly lower Wednesday as investors watching the talks between Greek officials and teams from the EU, IMF and ECB on aid to Greece due to start Wednesday after a successful bond sale by Athens yesterday. By mid-afternoon, the European currency was worth 1.3401 dollars, down 0.16%.

Today on Wall Street, investors will monitor the traditional weekly crude inventories will be published in late afternoon.

The Paris Bourse opens up on Tuesday after two sessions that have propelled by the 4000 points as a result of the case Goldman Sachs. The CAC 40 rose at the opening of 0.16%, to 3987 points.

Monday evening, the CAC 40. Friday night, the benchmark index of the Paris fell 1.94%.

Wall Street has ended without direction while the SEC has fueled the uncertainty by preventing it would be interested in other U.S. banks, including Deutsche Bank, UBS, Merrill Lynch, etc.. on securitization transactions.

Asian stock markets resumed Tuesday morning colors. A rather technical progress.

Zew index to follow

In Germany, the statistics institute Destatis unveiled producer prices up 0.7% in March on a month, resulting in lower annual rate of 1.5% -2.9% cons in February.Economists polled by Reuters had forecast an average increase of 0.4% a month to month and down 1.8% over one year.

The most watched barometer Zew financial community will be published 11 hours. In the eurozone, the European Central Bank will publish the balance of payments 10 hours.

In the U.S., no major economic figure is expected Tuesday.

EADS, only for an offer

Air France-KLM (0.62%, to 12.15 euros) announced Monday that the decision of French and European authorities to open corridors into European airspace allowed him to "gradually take over its operating schedule . The group felt that the paralysis it costs 35 million euros in losses per day. For its part, Club Med believes the impact on its activity to 5 million euros per day.Titles back on Tuesday to 1.73%, to 13.25 euros.

Furthermore, EADS (+0.21% to 14.44 euros) should submit a solo bid for the tanker contract from U.S. Air Force after he failed to associate with L-3 Communications Holdings or any other provider, said on Monday close to the matter. But rival Boeing seems more than ever favorite for the contract to $ 35 billion for only the first installment.

Lagard?re cons attack

In an interview with Le Figaro, Arnaud Lagardere said it excluded to abandon the status of sponsorship and Lagard?re will take "adequate time" to sell 7.5% stake that the group still holds in EADS No teletrack payday loans.Lagardere shares lost in the first exchanges 0.66%, to 31.47 euros.

The mutual bank BPCE sent an absolute bar to Deminor in the standoff that pitted him against the shareholder advisory firm on the whole record Natixis, the investment banking subsidiary public offerings in 2006 and washed by the financial crisis. Moreover, Natixis (2.42% to 4.03 euros) confirms its proposed sale to Axa's private equity activities.

BNP Paribas (0.56%, to 55.66 euros) announced it signed an agreement with Banca Popolare di Milano in the Italian bank to buy back its activities in the custodian bank for 55 million euros.

The values in the wind motor

Buoyed by a sharp increase in goals from Daimler, whose shares are more than 7% at the Stock Exchange Frankfurt, values are part of the automotive sector increased sharply.Renault and climbs from 2.51% to 34.93 euros, Peugeot of 2.04%, to 22.22 euros. Valeo is 1.98%, to 25.72 euros and Michelin 1.52%, to 53.48 euros.

Soitec and Guyenne published

Soitec reported an increase in demand and an improvement in its operating profit in the second semester 2009-2010. It seeks a balance from operations for the current year. Titles rise of 2.92%, to 11.44 euros, the largest increase of the SBF 120.

Guyenne et Gascogne (-3.34% to EUR 71,51) has published an increase of 4.7% of its revenue for the quarter, reporting a tentative recovery in Spain and a rebound of his activity in France in March.

Safran issued on Tuesday a stable activity in the first quarter, as expected. The shares were down 1.75%, to 18.65 euros. The largest decrease in the SBF 120.

FRANCE

Saffron: AC 1T (0700)

Radiall ca1T2010

Accor Q1 results (after market)

Lafuma AC 2T (after market)

USA

Coca-Cola Q1 results (before market)

Johnson & Johnson Q1 results (before market)

Goldman Sachs Q1 results (1400)

Yahoo!: Q1 results (after market)

GB

Tesco: annual results

SABMiller: progress report of 4T

SWEDEN

TeliaSonera: results 1T

SKF: results 1T

FINLAND

(*) Kone: results 1T (1130)

SWITZERLAND

Novartis Q1 results (0700)

A cloud of 200 million dollars (148 million euros). That bill, by far, the paralysis of traffic due to volcanic ash cloud, according to an estimate made Friday by the International Air Transport Association (IATA). This amount corresponds to "the financial impact (…) day in terms of lost revenue," said a spokesman for IATA said in a statement.

"In addition to lost revenue for airlines costs to change the routes of their machines and take on passengers and equipment stranded in various airports," he added. This is a "first conservative estimate".

According to many analysts, the closure of airports in North Europe was difficult to quantify an impact on the finances of airlines. Experts estimate that it will depend on claims from customers.More recently prefer to postpone their flight, the more it will limit the losses to the industry.

"While we have no visibility on the duration of these disturbances, it is difficult to say what is the cost for companies," Marina J. Devitt, the Irish Goodbody brokerage told AFP.

An invoice of $ 30 million for Air France

In the ladle, it is possible to obtain an estimate by dividing the annual turnover of a company by the number of days during which the aircraft remain grounded. Based on this rough, it is possible to establish that, for Air France-KLM, the cloud would cost 30 million euros and 25 million for British Airways, advance a Paris-based analyst.

In Germany, total paralysis of traffic is expected to weigh on the entire industry to the tune of 50 million euros in total per day and "less than 10 million euros a day" for Lufthansa, said analyst Per-Ola Hellgren, bank LBBW, told AFP. An invoice less salty than the recent pilots' strike which had cost 48 million euros in total.

Finally, the "one-time impact on earnings of the Irish Ryanair should be low since most of the operational costs will be avoided, except for aircraft rental and labor costs," notes the brokerage Irish NCB.

Rush predictable

Companies should still limit the damage thanks to the predictable rush of customers at the end of the flight ban. The aircraft should then record load factors much higher than normal, making profitable at the same time much better flights.

Without waiting to preliminary figures, the titles of European airlines fell sharply on the Stock Exchange on Friday. At closing, Air France-KLM took down 3.42%, British Airways fell by 3.13%, 4.10% Lufthansa.

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Twenty French airports closed until Saturday 8 hours

"Packages, mangoes and footballers blocked

»Flights canceled: what airlines offer

It is an alliance that giant Credit Agricole is poised to build in the business of brokering, with China's Citic. Corroborating sources, the two groups, whose discussions began a year ago, will announce in the next few days their entry into exclusive negotiations.

Before yesterday, the Bloomberg spoke of the creation of a joint venture in Asia. The project is actually much broader. Cr?dit Agricole and Citic were preparing to share all of their brokerage activities, with the ambition to offer a comprehensive worldwide.For the Bank Green, this means that it will bring in the trash marriage the two flagships, CA Cheuvreux in Europe but also CLSA Asia inherited his nugget of the former Credit Lyonnais and the ex-Indosuez, which strike force in Asia is comprised of over 1 300 employees.

"An entry by the front door"

The negotiations will refine the assembly operation. It seems, however, have articulated a pattern in stages. Globally, the respective contributions show an economic weight of about 70% for Credit Agricole, 30% for its Chinese partner. In Asia alone, the ratio is 50-50.

In China, finally, market still very restrictive with regard to foreign players, the Green Bank would of course be a minority, but Citic would offer "an entry by the front door," said a source familiar with the matter.Both groups have the ambition to create a unique platform for implementation to the world. A strategy that sticks to the explosion of capital flows to and from the Asian region, particularly China. She also accompany the rise, very fast, of IPOs on the Asian markets for new local giants, but also of foreign cash advance. Western companies are increasingly likely to be tempted by either a dual listing-West Asia, either through public offerings in part of their activities in emerging markets.

In 2007, Citic had wanted to attempt the adventure of large-scale partnership in market activities. But the Chinese had backed the wrong horse by selecting Bear Stearns, number five on Wall Street, which was the first major victim of the financial crisis in March 2008.The company was swallowed by a weekend, for a pittance and under pressure from the Fed, JPMorgan.

By marrying his "brokerage" than CITIC, Cr?dit Agricole replicates the strategy already implemented in the field of asset management and derivatives: Green Bank has established two joint ventures with Societe Generale, Amund and Newedge . In both cases, there is access to the critical size. The problem applies to the brokerage, a business in which the challenge is to offset the costs of research teams and infrastructures, galloping amid technological revolution on the market.

Finally, the operation comes at a strategic refocusing of the Cr?dit Agricole group. The Green Bank in 2008 has imposed a severe weight loss at its investment banking subsidiary, which came early and suddenly in crisis.Now, CA IPC (Credit Agricole's Corporate and Investment Banking) is focused on three areas: structured finance, capital markets and brokerage. The planned offensive alliance with CITIC confirms this last job.

New rebound in the case Lagard?re / Wyser-Pratte. Guy Wyser-Pratte, said the activist investor who hold 0.53% stake in Lagardere, has won the support of governance expert RiskMetrics Group (formerly ISS Proxy Advosry Services) in his critique of the structure of the media group.

Support size, because boards of RiskMetrics are followed by institutional investors. But they represent 78.51% of the capital of Lagard?re (50,51% of foreign institutional investors and 20% French).

Rejection of proposals by the management and the board

But on Monday, the general partners and managers of Lagardere SCA voted against the amendment of articles of the company – a company limited by shares to a company – in a proposed resolution before the next general meeting Guy Wyser-Pratte.A decision that is "not surprised" to advise shareholders of the activist. "The opposite would have been more democratic," he quipped.

Last Friday, the group's supervisory board had rejected outright the two main proposals of the Franco-American investor to relax the sponsorship of the Lagard?re group. For now, Arnaud Lagardere, the manager-partner of Lagardere, which holds all powers of decision with 10% of capital. Partnership status allows to use external financing without losing control of the company.

RiskMetrics 'agree' with Wyser-Pratte

Thus, the shareholder advisory firm RiskMetrics looking for arguments Guy Wyser-Pratte: "We agree with his criticism of the sponsorship per share.

"The presence of dissent to the supervisory board of Lagard?re would be beneficial to the long-term shareholder value," she said in a statement. In any case, any election "reflects the intention of the limited partners to adopt a different status," said the company. Verdict on 27 April at the general meeting of shareholders.

On Monday, the shares are granted Lagard?re 0.46%, to 31.51 euros in a market equilibrium.

Wyser-Pratte had accused Mr Lagardere's "mismanagement", accusing him of preferring to "go play tennis in running the company." Arnaud Lagardere leads the group since the death of his father Jean-Luc Lagard?re in 2003.

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"Lagard?re rejects proposals Wyser-Pratte