Natixis and Publicis laugh, cry and Lagardère Dexia

Meanwhile, financial markets on Monday welcomed the news: Natixis gaining 3.26% to 4.57 euros and Publicis rose 1.50% to 34.95 euros in a market up slightly at 0.12%.Conversely, Lagardere was down 2.42% to 28.05 euros and Dexia loose 2.03% to 3.37 euros, to 10.30, the two largest declines the CAC 40.

Edenred, company resulting from the division of Accor, the chemist and Rhodia will join at the same time that antechamber of the CAC 40 in place of the services company Atos Origin and Land Regions.

These decisions were taken Friday night by the Scientific Council of the indices of the Paris Bourse. It meets at least four times a year to update the content index. To determine the entry or exit to a value of the CAC 40 are taken into account many factors: the respective weight values, number of transactions, volumes of shares traded and turnover.

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The designation entitles them to chip counterparties determined by collective agreement, and failing that, to compensatory time off, salary doubled and the ability to refuse work on Sundays. This classification is written into the law of August 2009 on Sunday work and allowed malls open illegally on Sunday to continue the practice without having to pay fines.

Paris will not benefit from this device."The Prefect of Paris has denied the request of Mayor Bertrand Delanoe to rank tourist areas of the capital as Bullet," the CFTC said in a statement. For the union, this decision is contrary to the promise made by Nicolas Sarkozy, that "those who work on Sundays will be voluntary and paid twice."

The exception "tourist"

The zones of tourist interest are beyond the rule.The Sunday opening of all types of businesses is right, and employees are not entitled to compensatory rest must or a doubling of earnings.

"Once again the argument is made that the law Maille on Sunday is only a law made for large retailers, and this undoubtedly to the detriment of family life, personal and spiritual associations," says the CFTC.

There are seven tourist areas in Paris: Part of the Rue de Rivoli, Place des Vosges and rue des Francs-Bourgeois, Arcola Street, Avenue des Champs Elysees, part of the Viaduc des Arts Daumesnil , part of the Boulevard Saint-Germain, part of the Butte Montmartre.The government wants to see more shops open on Sunday in Paris and proposed a map of tourist areas greatly expanded.

The Socialist mayor blocked the project but on the field, she noted that a growing number of supermarkets began, immediately, to open on Sunday afternoon with impunity.

(With AFP)

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Yesterday, the market was driven by good news from the real estate sector still observed under the microscope by investors. Sales of new houses in the United States have indeed rebounded more than expected in June, 23.6%. On Tuesday, a new publication, the Case-Shiller index of home prices meets the individual operators stock market is increased more than expected in May in the United States, +0.5%, a move which still reflects a sustained level of sales, helped by a tax credit.The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.

Another highlight of the week at the macroeconomic level, the U.S. central bank should publish its Beige Book Wednesday on the economic conditions. It will be very guarded while the president of the institution, Ben Bernanke said Wednesday before Congress the slow recovery, with no announcement of new funding in the economy. But it was the day Friday with the first estimate of gross domestic product (GDP) U.S. second quarter is expected this week.

On the foreign exchange market, the euro continues against the greenback.Around 15:30, the euro was worth just under $ 1.30, but the threshold was crossed earlier.

The ball takes Publications

On the side of values, as BP leads the rating declining by 1.5% to 38.12 dollars in early trade Payday Loan for Bad Credit. The amount of the quarterly net loss of oil exceeds $ 17 billion, a record high. The group is preparing to sell $ 30 billion in assets and confirms the resignation of its CEO.

The U.S. financial services group CIT (-0.21% to 38.92 dollars), which serves a clientele of mainly SMEs, on Tuesday released a second consecutive quarterly profit and announced it had reduced its debt by three billion dollars.The net income was $ 142.1 million, and reported the number of shares equivalent to 71 cents, while analysts were not expecting that 33.

The group has however indicated that he had once again increased its provision for credit losses, bringing them to $ 260.7 million over the period April-June But this element, as well as pay increases decided to retain employees, was more than offset by asset sales, earnings and tax collectors.

For its part, the world's number one defense, Lockheed Martin (1.73% at 73, 17 dollars) Tuesday reported higher quarterly earnings expectations and raised its annual profit forecast by emphasizing buybacks and improved results in the satellites public.Net income for the second quarter was $ 825 million or $ 2.22 per share, against 734 million or 1.88 dollars per share in the second quarter 2009.

Today investors await quarterly results include sitting in the middle of those of DuPont.

Always on the side of values, the European Commission on Monday opened two investigations to IBM. It suspects the group of computer abuse of dominant position on the markets for servers.

Only 7 of the 91 banks have failed this test of strength, five Spanish, one Greek and one German. Their capital needs are estimated at 3.5 billion euros. We must add three who crossed the barrier but the recapitalization seems inevitable: the Italian Monte dei Paschi, Allied Irish Banks, Irish and German PostBank.Finally, the majority of European banks, the British and French in particular-seem to have redressed the balance.

The question now is whether the test can, as desired by the European authorities to lift the remaining mortgage, reboot, and finally the pump in credit to promote growth. By Friday, the European Union had welcomed the exercise as a vote of confidence. From Washington, the Treasury secretary, Timothy Geithner, hailed "a major effort towards greater transparency" on the health of the banks of the Old Continent. In markets, the euro rebounded to finish just below $ 1.29 after the close of European markets. Wall Street ended higher.

Consolidating banks at fault

Yet many continue to doubt the severity of the European round or its completeness.Unlike other countries, Germany has refused on Friday to force its banks to publish the figures on a main line of their balance sheets: assets in government securities, ie their exposure to the European budget crisis. In the coming days, a first return to the trust will be the willingness to consolidate the banks at fault.

Weighing his words, the IMF Managing Director Dominique Strauss-Kahn described the stress tests as "the promise of a considerable strengthening of the European financial system. It remains to implement. Greece and Spain have promised for the end of the year. Germany, she announced a major restructuring. This is the interbank market which will provide the second element of discretion. The situation has eased since the beginning of the summer.But lack of confidence, many institutions do not always manage to borrow in the interbank lending market, considered one of the keys to sustainable economic recovery in Europe.

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BMB Group has denied reports Sunday night in a statement."The BMB Group is in discussions with any officer or shareholder of Club Med as suggested by the Sunday Times article, it says Harold Alby, a spokesman for the group totally free credit score.

At the same time, nobody wanted to comment at Club Med. The Sunday Times, BMB Group has already the support of three of the four major shareholders of the group chaired by Henri Giscard d'Estaing (Chinese Fosun, GL Partners hedge fund and investment company Rolaco), and finalize it this week discussions with the first of them, Fipar International, a subsidiary of Caisse des Depots and management of Morocco.

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"Unjust and unacceptable"

Trade unions, traditionally opposed the reforms they consider "unfair and unacceptable" because it would further inequalities have already planned to protest during the presentation of the Council of Ministers."The proposed reform does not respond to questions of employment, particularly youth and seniors, or the reversal of gender inequalities, or to the recognition of the hardship … It refers to the uncertainty of future generations sustainability of pension secured by the division, they were justified in a statement. They also criticized the closure of financial reform that puts "more than 85% of efforts" to employees only and require "a different distribution of wealth produced, particularly through higher taxes than expected capital income and senior income.

Eric Woerth's proposal to improve the bill at the time of the examination to the National Assembly from September 7 on three aspects of the text (strain at work, and long careers polypensionnés) has yet not had the desired effect.Even the beginnings of a better consideration of the prevention of the hardship brought up by the entourage of the Minister of Labour at a meeting with labor, has left them unmoved. "We want a broader discussion, said Friday Eric Aubin, the negotiator of the CGT, after an interview Rue de Grenelle. The position of the government that it seeks to show a continued dialogue. But we ride seriously and it confirms our intention to build a strong mobilization on September 7. "

On this day, the unions have scheduled a new day of strikes and unit mobilization, hoping to do better than June 24 when 800 000 people (and by 1.9 million CGT) had beaten the streets across France to protest against the postponement of 60 years. And thus weigh more on debates in Parliament.They do not despair, no longer convinced by that number of MPs to amend by Social Affairs Committee – where the text will be examined from July 20 to 22 – the bill. The CFDT has also planned to "harass" the summer MPs in their constituency. Act II of the 2010 pension reform does so may just be beginning.

"SPECIAL – The challenges of pension reform

Latest twist, a Louisiana appellate court has imposed a setback Thursday at the White House. On 22 June a judge in New Orleans overturned the six-month moratorium on new offshore drilling more than 150 meters deep, decreed by the Obama Administration. The magistrate ruled the gel arbitrary, decided by him without consideration for its regional economic impact. The executive has therefore appealed and lost again on Thursday.

Thirty drilling platforms in the Gulf these are now hostage to this legal battle.The cost of leasing a drilling platform is estimated at 1 million per day. As a result of thirty platforms in the Gulf, the bill accumulated over three months would amount to 2.7 billion dollars for companies exploring the deposits of the Gulf. The extension of the moratorium could put 50,000 employees out of work in Louisiana and the neighboring oil states.

Go drill "elsewhere"

Along with judges, elected Republicans deposit burst of bills or amendments to overturn the moratorium. For its part, the British government also said to be opposed to a freeze of all offshore drilling and focuses on a case by case basis. "We will not allow drilling until we have no assurance that the plans for all wells (…) represent what can be done better," says the UK Department of Energy.

Already, several U.S. companies threaten to go elsewhere to drill. "If the moratorium is maintained, we will have to redirect our resources to other parts of the world we are authorized to work," says one at Exxon Mobil, the first American company. In the U.S., the oil sector is characterized by the presence of a multitude of small companies, which bore alongside the majors. Thus, Swift Energy, based in Houston, told AFP that she was going to drill more in Texas, on land, at the expense of its operations off the coast of Louisiana.

In California, oil companies had rejoiced the green light to drill offshore, given by Barack Obama just days before the spill.The disaster has brought back the White House on this concession to the oil lobby for support of allied Republicans in Congress on the draft energy law discussed step by step for over a year. The company Venoco, which had projects off California, will focus on its land drilling. Problem: the volumes available in the ground are much lower than those buried under the ocean floor.

On Wednesday, the auction room was very bad name. The remarks of the prosecutor of the Republic, Chantal Leyris were largely inaudible, the magistrate refused to use the microphone placed at his disposal. And the prosecutors took over the reasoning that led, last year, after investigation, to claim a non-place.But the word "relax" is heard, the prosecution did not request any penalty against former executives of Vivendi Universal.

Jean-Marie Messier, and a good portion of men who formed his staff at the head of the company, is considered from the beginning by the court. The legal case focuses on communication triumphalistic group, become a giant media and communications after its merger with Seagram, which controls including Warner Music. From the first day of the hearing, the former CEO has expressed a mea culpa about its "excessive communication."

On Wednesday, early in the indictment, the prosecutor concurs: "The Vivendi is not an Enron.This is not a fraud organized by the President. "Legally, the prosecution highlighted several weaknesses in the case conducted by the magistrate:" The element of intent was not taken into account in the definition of the crime . Or, on the issue of price manipulation, "Mr. Messier was referred to the court taking into account only the only conclusion of the sanctions committee" of the COB (now AMF). On the merits, Chantal Leyris exempts Jean-Marie Messier on several points. "There is ample evidence, she believes, for example, that the movements in the price of Vivendi September 25, 2001 are due to the normal balance of markets."

The defense of the accused must be expressed from this Thursday.It will do a similar tone, even if it is this time the tenors of the bar who give voice.

The reaction of Didier Cornardeau, president of the association of small shareholders assets:

]]> http://chestnutchurch.org/vivendi-trial-the-prosecutor-does-not-require-any-penalty/feed/ 0 http://chestnutchurch.org/the-ecb-revives-european-stock/ http://chestnutchurch.org/the-ecb-revives-european-stock/#comments Thu, 10 Jun 2010 14:44:10 +0000 admin http://chestnutchurch.org/the-ecb-revives-european-stock/ The CAC 40 increased his earnings to 16 hours. After posting an increase of 0.90% at mid-session, the index rose in Paris now more than 2%, 2.15% exactly 3521 points. Investors have been reassured after the European Central Bank has revised upward its forecast for eurozone growth this year.

The benchmark index of Paris had shown a steady increase at the close Wednesday after three consecutive sessions of decline, thanks to the reassuring remarks from Ben Bernanke, the Fed chief. Other major European markets have also hoisted the green flag.

The finding is similar to other financial markets: the German Dax climbed 1.09% to 6049 points, the Spanish Ibex rose 2.80% to 9117 points, the Milan Stock Exchange gained 1.11% to 19,123 points.Rising British Footsie is more limited: + 0.64% to 5118 points.

Early this morning, Asian stock markets have posted positive counters. The indices are displayed in positive territory while a series of good gives figures of heart from investors.

The euro is ironed beyond $ 1.2.

U.S. growth is reassuring, Ben Bernanke also

Published yesterday, the Fed's Beige Book confirmed an increase in economic activity in the United States without signs of inflation, reinforcing the idea that the Fed is in no hurry to raise interest rates. The Federal Reserve announced it was expecting a GDP of 3.5% for 2010 and "somewhat" more in 2011. In May, the Fed was between 3.4% and 4.5% for 2011.

Its chairman, Ben Bernanke, said he will remain attentive to the evolution "of the situation abroad.His comments are aimed at Europe in turmoil budget. He said however, "reassured by the answers of Europeans," holding that they have developed a "substantial program.

The economic indicators of importance

In France, industrial production in France fell 0.3% in April, but production of the only manufacturing industry continued to grow, according to figures released Thursday CVS-CJO by INSEE.

In Frankfurt, while it is held by the Governing Council, Jean-Claude Trichet, head of the European Central Bank, will deliver the Bank's decision on interest rates to 1% today. A status quo is preferred.

Like every Wednesday, the weekly claims for unemployment benefit in the United States will be published at 14.30. The figures on foreign trade in April will be known at the same time.Then, 20 hours, investors will follow the budget execution figures for the month of May

Japan remains the second largest economy after the United States, while the revised official figures and show a growth of 5% in the first quarter of 2010.

France Telecom, one agrégateurplus a producer

Value-laden France Telecom, which held its annual meeting Tuesday, it appeared necessary to adapt its strategy contained in the competitive environment and has therefore become more assertive as a reader and as a producer, said Wednesday Stéphane Richard, his manager General at the General Assembly cheap pay day loans.

In addition, the telecom authority (Arcep) on Wednesday defended a regulatory context to counterbalance the dominance of France Telecom in the telephony market in France.

The securities yield 0.36% to 15.3 euros.

Air France-KLM: 1,22% + 9,85 eurosSelon information Figaro, Ethiopian Airlines is about to sign an agreement with Star Alliance to join the alliance dominated by Lufthansa. Air France is being shaken to its network and the most profitable.

Total: -1% to 37.73 euros oil group participates in the construction of a solar concentrator 100 megawatts in Abu Dhabi, the largest in the world.

The above shares retreat amid plummeting BP shares, which fell by 15% to the London Stock Exchange on Thursday morning – they dropped 15.8% yesterday on the U.S. markets. In its wake, Technip down 1.3% to 47.25 euros.

Renault: + 3.38% to 30.26 euros change in the financial department head.Thierry Moulonguet will be replaced by the CEO of RCI Banque.

Imerys: + 1.99% to 41.07 euros The Strategic Investment Fund (ISF) announced Wednesday the fall departure of chief executive Gilles Michel, who will join the group of industrial minerals and construction materials, including it should become CEO in 2011, to succeed Gerard Buffière.

French Members Banks, which begin Thursday in open discussion of the draft law regulating banking and finance, also want to discuss with the Government of the German measure to ban naked short selling.

Societe Generale gained 1.28% to 31.15 euros.BNP Paribas, 1.97% to 43.15 euros, Credit Agricole, 2.41% to 8.39 euros.

EADS: + 3.28% to 17.79 euros Eurofighter has launched negotiations with Germany, Spain, Britain and Italy to convince these countries to invest 10 billion euros in next phase of production of its combat aircraft.

Moreover, during the Berlin Air Show, Louis Welsh, the executive chairman said he was "delighted if we could forge a partnership with Embraer, the Brazilian counterpart, said FinanzNachrichten.

The form that could take this partnership has not been specified. In the past, EADS has held a minority stake in Embraer, which he sold in 2007.

The Auchan retail group and its Taiwanese partner Ruentex preparing to list their Chinese activities on the Stock Exchange of Hong Kong.A first for the family business.

Changes in recommendations

Lafarge and Saint-Gobain wins Lafarge 4.03% 48.65% to euro and Saint-Gobain is 4.48% to 31.63 euros. Citigroup raised its recommendation from "hold" to "buy" on the two values.

Vinci: + 1.87% to 37.25 euros ING has started tracking the purchase, with a target price of 44.20 euros.

Obama wants to "kick some butt"

The only difference with the Toyota case is the fact that the BP boss could resign. Asked by NBC, Barack Obama has hinted he would welcome the departure of Tony Hayward has made frequent statements awkward. "It would not work for me after these statements, had told the U.S. president.We talk with these guys because they are potentially more able to tell me who to kick your ass.

Tony Hayward was heavily criticized after saying a week ago wanted to "get his life before" and the Gulf of Mexico was "a great ocean where the environmental impact of the disaster is very, very modest." Words that had caused such an outcry from the families of 11 victims who died in the explosion and for which he apologized on Facebook. 81% of Americans felt negatively the reaction of BP.

Obama worse than Bush

The position of Barack Obama is not the most comfortable vis-à-vis the American people no fax pay day loan. A poll ABC News / Washington Post, 69% of respondents have a poor opinion of the management of the crisis the Obama administration.By comparison, 60% of Americans disapproved of the action of George Bush response to Hurricane Katrina in 2005.

Tony Hayward, who will be the only witness to a hearing entitled "The role of BP in the explosion of the drilling rig Deepwater Horizon and the oil spill, to answer questions from elected members of the Subcommittee on Oversight and Investigations of the House of Representatives.

Two months after the explosion

The hearing will take place almost two months after the explosion on April 20 of the platform which has killed 11 people and caused a huge oil spill in the Gulf of Mexico, affecting the fauna and flora in several states in the southern U.S. coast U.S. including Louisiana.

The head of BP America, Lamar McKay, had already been questioned by several committees of both houses of Congress in May.

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