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On the wire! After spending almost the entire session in the red, the CAC 40 rallied in the very last lap. At the finish he returned 1.23% to 2856.97 points. But on the whole has lost 4.7%. And since the beginning of the year, he left nearly 25%.

Yesterday the market was still tune in slow motion. The trade volume has exceeded painfully € 2 billion on the great values ​​of the Paris stock exchange payday loans. On this day of "Black Friday" in U.S. markets opened for a half session. This day, like every day after Thanksgiving, sounds the start of the race for Christmas Atlantique.Chasse addition to good affairesAprès six consecutive sessions of sharp declines, few operators present at the Paris Stock Exchange engaged in an intense bargain hunting in financials and cyclicals.

The debt crisis in the euro area is growing. After Moody's threw the trouble on the debt rating of France, the rating agency has put his threat for Spain. Following in the footsteps of Standard and Poor's and Fitch, the rating agency lowered the credit rating of the fourth largest economy in the euro area by two notches to "A1" instead of "Aa2".

Moody's, however, shows more severe than its competitors. She attributed to Spain's fifth best mark where Standard and Poor's and Fitch gives it their fourth best. Moody's and depriving the country of the issuer status for high-quality issuers to the rank swallow solids but may be affected by changes in economic conditions. Like its competitors, the rating indicates the rating of Spain could again be lowered to medium term faxless payday advance.

To justify its decision, the agency said that "Spain continues to be vulnerable to market pressures" that economic growth should reach only 1% at best in 2012 (and not 1.8% as the Moody's previously thought), and that it "will make it more difficult to achieve the ambitious budgetary targets" of the country. Moody's also kept a "negative outlook" rating on the Spanish because of the "risk posed to the country for worsening of the crisis in the euro area."

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Cold coffee "ready to drink" in a can? This is the new Coca-Cola hopes to drink from the French. Accustomed to swallow their little black zinc, they have already converted to coffee to drink in paper cups with the arrival of Starbucks and other coffee Columbus.

Since this summer, the world leader in soft drinks, combined with specialist Italian Illy coffee, launched its cans of coffee at Daily Monop 'and Monop' (Monoprix). Illy issimo named this new drink is declined "caffe" and "cappuccino". "This drink is not far from the tastes of the French, it's just a new way to drink coffee as was the case some years ago with the iced tea in cans," said Ilaria Presotto, marketing director of Ilko, the joint venture created in 2007 by Coca-Cola and Illy.

With this coffee "ready to drink," Coca-Cola wants to meet new consumer needs.He hopes to reach young and urban assets, on the road, often of tiredness during the day. "This is a premium drink that matches the new lifestyles, says Ilaria Presotto. This is a niche category that did not exist in the French market, so we need to educate consumers and encourage impulse buying. "Suddenly, the price of Illy issimo (2.20 -3 euros) is aligned with RedBull, alongside which he finds himself in the rays in the absence of competitor.

As with VitaminWater, the world leader in soft drinks has chosen a selective distribution. He wants to know Illy issimo by word-of-mouth.He focused primarily on fresh produce stores so that its drinks are lost on the shelf.

Starbucks and PepsiCo in ambush

These cans of coffee, which are now available in 400 outlets in France, were first sold exclusively at Colette, La Grande Grocery of Paris (Le Bon Marché) in several luxury hotels in the capital as the Hotel George V and the Côte d'Azur. "With these first months of launch, we will expand our offering next year and increase the distribution of our products to major retailers, says Ilaria Presotto, currently in talks with Carrefour. We hope to at least double our sales in France in 2012. "In the Hexagon, Illy issimo – which is produced in Denmark – is sold by the sales of Illy. In Barcelona and London where Illy issimo was launched along with Paris, the distribution strategy was the same.In the British capital, the drink is sold in stores in the chain Waitrose premium, in addition to sandwiches. It is also found in company canteens as Disney or head of the Daily Telegraph.

In Europe, Illy and Coca-Cola inspired by the success of Illy issimo Japan and the United States, where the drink was launched two years ago. In Japan, the first market issimo Illy, the coffee is sold in cans hot or cold in the millions of vending machines in the country. The country accounts for 70% of world consumption of coffee "ready to drink." A market of 17 billion dollars which increased by 5% in five years. In the U.S., too, is a high potential market. From year to year, sales have doubled in the country. But Coca-Cola is facing a strong competitor, Starbucks Coffee, combined with another heavyweight soft drinks, PepsiCo.After the United States, China, Britain or Germany, their coffee "ready to drink" Frappuccino will land next year in France.

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After finishing the day in the green yesterday, gaining 1.50% to 2984 points, the CAC 40 tackles the session close to balance, falling symbolically 0.04%% to 2982.86 points on Wednesday, pending an important decision of the U.S. Federal Reserve (Fed). After a two-day meeting, the institution is expected to announce measures to support the U.S. economy. The wait seems high, especially since the day before, the International Monetary Fund has raised the specter of a recession in the world by launching "a strong call to action" at the announcement of its lower growth forecasts for the global economy. This should amount to 4% for both 2011 and for 2012, 0.5 points less than the 4.5% announced in April.However, "given the weakness in economic indicators, it is almost certain that the Fed will do something but it is difficult to know exactly what," noted economists from Capital Economics.

Investors should in all cases be cautious on the Old Continent, especially after the deterioration of the Italian sovereign debt on Tuesday, which must be added the absence of a clear response from the area in the euro area on the Greek crisis. The conference held the day before between the Greek Finance Minister Evangelos Venizelos and the heads of mission of the "troika" of the creditors of the country has still not been completed. Only "good progress has been made," the European Commission ruled in a statement. Yet it must release the next tranche of aid and vital in Athens 8 billion euros.The Greek authorities are pressed by their foreign creditors to accelerate the reduction of budgetary expenditures, while the other side, protesters denounced the daily ravages of austerity.

Brazil could help the euro area

In addition, the Greek daily Kathimerini Athens unveiled Tuesday would consider holding a referendum on the continuation of Greece in the euro area to strengthen its legitimacy in its management of the debt crisis. A bill prior to the referendum would be discussed in the coming days, the newspaper said, quoting unspecified sources.Athens, however, denied such a referendum.

While the BRIC countries (Brazil, Russia, India, China and South Africa) had indicated last week the possibility of supporting the euro area by increasing their holdings of bonds, the President of Brazil, Dilma Rousseff, confirmed this position at Barack Obama on Wednesday at a meeting in New York.

On the macroeconomic front, the United States, home resales for the month of August are expected in 16 hours as the weekly inventory of crude oil at 16.30.

In Britain, the public finance figures for August are expected.

In Italy, the current account balance for the month of July will be published.

In Japan, foreign trade figures for August will also be unveiled.

On the foreign exchange market, the euro remained stable against the dollar Wednesday after Greece has reported "satisfactory progress" with the troika of creditors, but the markets remained nervous awaiting the announcements of the Fed . Around 8 am, the European currency was worth 1.3703 dollars against 1.3702 dollars the night before.

As for oil, it was down Wednesday morning in a market desperate to face the crisis of debt in the euro area, pending a decision by the Fed to promote economic recovery of the largest consumer of crude in the world.In early electronic trading, a barrel of "light sweet crude" for October delivery gave up 53 cents to 86.38 dollars per barrel of Brent North Sea crude for October delivery lost 37 cents to 110.17 dollars.

Values ​​to follow

• Banking

After the degradation of Italian sovereign debt, Societe Generale, Credit Agricole and BNP Paribas, which are exposed, will still be observed.

Attention will also Dexia, which would have allowed for 25 billion euros in loans toxic entities in 5500, according to Liberation.The additional cost of these credits was estimated at 3.9 billion euros at the end of 2009.

• Bouygues

The group filed with the Autorité des marchés financiers (AMF) the prospectus of the takeover of shares of € 1.25 billion announced on August 31, at 30 euros per share.

• Saffron

The aerospace equipment mandated banks Mediobanca and UBS to bid for the Italian manufacturer of aircraft engines Avio, reports the newspaper front page.

• Canal +

The Competition Authority decided Wednesday to withdraw the decision to authorize the merger of satellite packages CanalSat and TPS, completed in 2007, finding that Canal Plus had "failed to comply with a number of commitments" made to avoid misuse its dominant position.Groupe Canal Plus also sees a fine of 30 million euros.

• JCDecaux

According to Les Echos, the group won an exclusive contract advertising on two subway lines in Chongqing in China for a period of 15 years, but did not disclose financial details.

• Le Noble Age

The company announced in a press up all its results in the 1st half (34% to 3.68 million euros for the net) and confirmed the increase in its forecast of EBITDAR margin ( Operating income before depreciation, amortization and rent) at cruising speed greater than 27% by year end.

The U.S. stock markets resist panic that has driven down European shares on Monday. At the close, the Dow gained 0.63% to 10,061.12 points, the Nasdaq climbed 1.10% to 2495.09 points and the S & P is 0.70% to 1162.27 points.

Very hesitant, the indices increased to rise at the very end of the session after the Financial Times announced that Italy has asked China to perform major purchases of its sovereign debt. Senior Italian officials told the FT that Lou Jiwei, the chairman of China Investment Corp (CIC), was the head of a delegation that went to Rome last week to meet with Finance Minister Giulio Tremonti and as responsible for the Cassa Dspositi e Prestiti.

In addition, investors seemed anxious not to pass down the technical threshold of 1140 points on the S & P 500 (he flirted with during the day)."If we can not maintain this level, the next support is around 1120 points," said Marc Pado, an analyst at Cantor Fitzgerald.

U.S. operators, such as Europe and Asia, however, remain very concerned about Greece. They fear it will not be able to meet these budget commitments, which threaten to bankrupt the country and aggravate the crisis in Europe. The German Minister of Economy Philipp Rösler has also not ruled out a bankruptcy ordered Greece to save the euro.

These uncertainties have weighed heavily on European banking stocks, weighed down by their exposure to sovereign debt but also by fears about their solvency and funding.

Busy schedule for

United States, Barack Obama will submit to Congress today plan to revive the economy and employment announced Thursday.The president renewed his call "to Congress to adopt this bill, which contains the kind of proposals to grow the economy and create jobs."

Week is low in business results – the retailer Best Buy and diverse manufacturing Pall is the only component of the S & P 500 to publish figures – investors will focus primarily on a series of macroeconomic indicators.The latter include retail sales, the producer prices and consumption as well as statistics on the manufacturing sector.

Note, however, leading indicators of the Organization for Economic Cooperation and Development (OECD) published this morning, reporting a "slowdown" of the world's major economies.

Oil climbs the slope

In the wake of renewed tensions, the euro remained sharply lower against the greenback Monday, falling below $ 1.35 even briefly, due to another bout of market panic response to the crisis in Europe. End of the session in Paris, the single European currency was worth 1.3645 dollars against 1.3649 dollars on Friday night. Earlier, the euro fell to 1.3495 dollars, its lowest level since Feb. 16. The euro also fell to its lowest level in a decade against the yen. The euro bought 104.64 yen against 105.91 yen Friday.In the early morning, the euro fell to 103.90 yen, its lowest level since June 2001.

Oil prices have them finished up in New York Monday, bouncing after suffered early in the day of the depressed European stock markets. On the New York Mercantile Exchange, a barrel of "light sweet crude" for October delivery ended at 88.19 dollars, up 95 cents from Friday. "All the elements seemed to fall together in oil prices. I do not know why they are up now. I talked to brokers in the trading room, everyone is scratching their heads, "said Rich Ilczyszyn, broker at MF Global. As equity markets, it evokes a technical reason "because of coverage positions."

Broadcom target NetLogic

The side of values, Bank of America (0.86% to 7.04 dollars) on Monday announced it would cut about 30,000 jobs "in the coming years", or just over 10% of its workforce, in As part of the first phase of a major restructuring.

The chip maker Broadcom (-1.11% to 33.07 dollars) plans to buy NetLogic Microsystems (50.80% to 48.01 dollars) to $ 3.7 billion (2.7 billion euros) to develop its line of chips for wireless networks. The announcement helped to bring the technology sector.

The French group Technip Engineering said Monday the acquisition of the entire capital of the U.S. Global Industries (51.07% to 7.78 dollars), a specialist oil services submarines, based on a valuation of $ 1.07 billion (770 million).Technip will pay $ 8 cash per share, Global Industries, a premium of 55% over the closing price of its prey Friday night on Wall Street.

For its part, the online retailer Amazon (2.45% to 216.56 dollars) would be in discussions with publishers to launch a book rental service digital subscription, said Sunday the Wall Street Journal in its edition line.

After the unexpected departure of the patron saint of Internet giant Yahoo!, Carol Bartz, rumors of a union between Yahoo! (-1.48% To 14.27 million) and AOL (0.14% to 14.74 dollars) have resurfaced. The CEO of the Internet service provider America, Tim Armstrong, have consulted with investment companies to test investor appetite for a reconciliation between the two groups advance Bloomberg.Tim Armstrong become the leader of the group.

For his part, Hertz Global (-1.73% to 9.66 dollars) has extended the date of its offer for Dollar Thrifty (0.05% to 64.92 euros) Automotive Group (DTG) until November 1 .

Wynn Resorts (2.19% to 151.68 dollars) through its subsidiary, Wynn Macau has announced the acquisition of land over 20 hectares to the government of Macau for approximately $ 193 million. The plot, located on the Cotai area, should allow the development of a resort and recreation.

Apple has made off with digital music. The group of Cupertino recurrence in video on demand (VOD). United States, its download platform iTunes controlled the first half of 2011, 65.8% of movie sales online, says a study by the Institute IHS Screen Digest. According to it, video on demand and downloading films have generated $ 229 million in revenue over the period.

Within a year, Apple has gained almost a point of market share. In parallel, the number two market, the platform Zune Video Marketplace Microsoft lost 2.3 points to 16.2% market share. The disappointment is huge for Sony, whose PlayStation Store will not pick up more than 4.4% of revenues from online video, against 8.2% market share in the first half of 2010.

Only Wal-Mart, with its platform Vudu and Amazon have increased over the period.They control 5.3% (+4.3 points) and 4.2% (0.2) of the market. Both players have recently muscled their offerings in the online video, is launching a range of streaming, or by signing new agreements with Hollywood studios.

"The expansion of the market share of iTunes is a remarkable result in view of increased competition from aggressive rivals some" notes Arash Amel, senior researcher in charge of digital media at IHS. The Apple platform was driven by the growth of the park iPad, special offers on movies and the ability to stream movies from a wireless terminal on a screen Apple TV, IHS analysis.

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At the opening of Wall Street, U.S. indices posted immediately red (around 3%). And losses have widened throughout the session. Accentuating even further their descent, the indices have hurt Barack Obama's speech, who spoke to 20 hours Paris time, the Nasdaq has lost more than 6.5% shortly after the speech. And bad mood has not dimmed until the closing bell on the contrary, the end of the session was sprotive. Finally, the Dow Jones appears falling from 5.55% to 10,809.85 points. This is the first time since October that the index feature finishes below 11,000 points, its worst day in percentage terms since December 2008, a dark period for the financial sector.

The Nasdaq, even punished, won 6.90% to 2357.69 points, while the S & P tumbles 6.66% to 1119.46 points.On Monday, European markets have dropped out late in the session, while the Asian markets, have also, finished the day on heavy folds.

When Barack Obama spoke in an attempt to reassure the markets, investors do not stop selling. Worse, they pressed the pedal and drop is even more markets. "The United States still deserve note 'AAA'," said Monday night during a speech Barack Obama, on the downgrade of U.S. debt Friday by the rating agency Standard and Poor's. The U.S. president also defended the credit of the United States but acknowledged a deficit problem. Barack Obama, however, that the economic challenge was surmountable but require political will.

Nothing to do."The deterioration in the rating of the United States is clearly the catalyst for the drop in markets today, but is not the reason, according to Michael Sheldon, chief strategy officer at RDM Financial. Degradation is simply evidence that the U.S. has problems. "

Note that in Latin America, falls are breathtaking. Financial center of Sao Paulo (-8%) and Buenos Aires (-10.73%) plunged. In Chile, the Santiago Stock Exchange (-6.96%) did not record such a decline for 13 years. In Lima, a decline of 7.03% has even led to a suspension of trading an hour before closing.

Gold still a step higher, oil falls below $ 82

Witness the panic in the markets, gold has posted yet another record high and rose 4.25% to 1722 dollars an ounce at 20:30, before returning to 1717 dollars to 22 hours.Oil, however, has dropped by more than 6% Monday in New York, their lowest levels since November. On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery finished the session at 81.31 dollars, down 5.57 dollars or 6.4% on Friday.

Paradoxically, U.S. bond rates continue to decline, those same 10 years falling by 8.5% melting at 2.339% against 2.558% Friday. Good to 30 years returned to 3.663% against 3.823%. However, after degradation much faster than expected by Standard & Poor's sovereign rating of the United States, which had never been subjected to such a penalty could have been expected to climb no faxing payday loans.Sign that investors still believe that the U.S. still refer to the bond market.

Moody's said Monday it could, too, by 2013 reduce the debt rating of the United States if the fiscal and economic outlook deteriorated sharply. But she considers it possible in the meantime a new agreement in Washington to reduce the deficit.

Menu macro loaded, with the FOMC in dish

This week, the lower macroeconomic indicator to take the pulse of a threatened U.S. growth will be expected to turn to investors.

From Tuesday, the productivity of U.S. companies in the second quarter and will be scrutinized closely. The risk is to see it getting more than expected, resulting in a logical breakdown of the job. Consumer confidence is also on the menu.But the final communique of the Monetary Policy Committee of the U.S. Federal Reserve (FOMC), from that Tuesday night will go to the most crucial.

Analysts and investors are wondering already if further monetary easing, (3 or quantitative easing "EQ3") can get out. Unless it is an aid to banks, which could begin to experience problems of interbank liquidity, which is preferred. "In all cases, the reaction of short-term market is very uncertain …" says it does at Aurel BGC.

Friday, retail sales will be the second major economic meeting a week at high risk on financial markets worldwide. "The sales figures published by the values ​​of the S & P 500 were clearly disappointing July, underline in this respect analysts Aurel BGC.But the report shows significant employment job creation in the distribution. A figure that looks very uncertain. " The trade balance in June should also be well attended.

Bank of America falls 20%

Meanwhile, the business side, the publications of interim results are less numerous and can only remember very little attention to markets, obsessed by the European and U.S. sovereign debt. Walt Disney reveals in particular accounts on Tuesday, ahead of Cisco in the matter and News Corp (Wednesday) and Nordstrom, Sara Lee, and Kohls (Thursday), and finally JC Penney (Friday).

American International Group (AIG: -9.92% to 22.61 dollars) continues Bank of America (-20.07% to 6.53 dollars), calling him more than $ 10 billion (7 billion euros) losses related to mortgages, it said in the text of the complaint.According to this document, which Reuters obtained a copy, AIG believes it was misled by the bank about securities backed by mortgages, which caused losses. The insurer wants to sue Bank of America to the Supreme Court of the State of New York in Manhattan.

After considering the price of flour in supermarkets and those of certain financial products, the European Commission is vigilant in fine watchmaking. The competition regulator on Friday launched an investigation into the agreements and dominant positions among manufacturers of luxury watches, trying to see if they have agreed to refuse to supply spare parts to independent repairers.

"The Commission informed the parties concerned and the competition authorities of the Member States of the opening of the proceedings in this case," said the European Commission in a statement.

The investigation follows a complaint filed in 2004 by the European Confederation of Associations of watch repairers (CEAHR) for alleged violation of competition rules of the European Union.Multi-brand repairers had indeed used to make many of the repairs of luxury watches. But from 2002, according to CEAHR, manufacturers of luxury watches began to refuse to supply spare parts to multi-brand repairers who were not part of their repair networks. The CEAHR therefore seeks the condemnation of the practice, saying it could force independent repairers to put the key under the door.

The European competition regulator rejected its complaint in 2008 for lack of Community interest. Then the decision was overturned by the European Court of Justice (ECJ) in December 2010. This does not prevent the European Commission to be cautious about this.She stresses that the opening of an investigation does not mean it already has evidence about the existence of an offense. And yet, no manufacturer of luxury watches is specifically under investigation.

• What are they? Rating agencies are tasked, in theory, to assess independently the risk of bankruptcy or non payment of an economic issuing debt securities such as bonds. Clearly, they inform investors of their risk if they lend themselves to such corporation or such State. They each have a rating scale ranging from AAA (triple A) to CCC.

The score is after work for analyzing economic and financial figures and results from a collective decision of the agency's analysts. This is an opinion, say the agencies, not a recommendation to buy or sell a security or a share of a company.

• The impact of the notes. Rating, reflecting the risk of bankruptcy of a company or a state, however, has taken a very important rated entities and investors.For states and businesses alike, a note degraded resulting in an increase in interest rates. So when they want to borrow, it costs more.

Investors should in turn may sell certain debt securities to meet internal and financial regulations. A portfolio manager consists of obligations and will maintain a balance between built-risky securities and less risky. If a portion of its securities, such as Greek bonds, for example, is degraded, it will have to part for not only its portfolio becomes too risky.

• Who owns the agency? Moody's is an American company listed and independently owned up to 13% by billionaire Warren Buffett. Fitch is majority owned by French financial company Fimalac, founded by Marc Ladreit de Lacharriere and 20% of the group Hearst.Standard & Poor's is owned by U.S. publisher McGraw-Hill Companies.

• Who pays? "Typically, a rating agency is paid by the entities who want to receive a note or those that use the note" on a subscription basis, says Standard & Poor's. 2009 according to the scale of the latter for the United States, a large company must pay at least $ 70,000 at the beginning of the rating process, then a subscription of "surveillance" amounting to about half the original amount cash advances pay day loan. Each time it will issue the debt markets, it will perform in addition to a commission of 0.045% of the transaction. The amounts are similar in Europe.

Today, about 90% of revenue comes from credit rating agencies rated entities, is Norbert Gaillard, in his book "The rating agencies' published in The Discovery.

• Conflicts of interest.The crisis "subprime" mortgages at risk, has highlighted the limitations of the current agencies. Paid by companies that want to be noted, agencies are sometimes tempted to assign a higher rating than actually deserved to win a contract to the detriment of its other two competitors.

A former analyst at Moody's, Mark Froeb, has launched scathing attacks against his former employer before the Commission of Inquiry on the financial crisis in the U.S. Senate. "When I left Moody's (2008, Ed), the worst fear of one analyst was not necessarily something that would jeopardize the market share of Moody's, to cause harm to its sales ( …) and losing his job accordingly, "he complained. However, an analyst should only concern "to contribute to a rating that would be false."

• Agencies very profitable.With the increasing complexity of financial markets, the agencies argue that it is becoming increasingly expensive to analyze the risk of failure of economic actors. Therefore, in the 70's, they began to charge companies to notaient.

This business model provides a very high cost to agencies. Moody's expects an operating margin (operating profit to net sales) of between 38% and 40% in 2011. Standard & Poor's 43% in the first quarter of 2011 alone and Fitch 58% for the year 2010/2011 shifted.

As the successor to Dominique Strauss-Kahn to head the International Monetary Fund could be announced this Tuesday – Christine Lagarde is the favorite – Greece has decided to strike until the vote of the austerity plan by the Greek Parliament should occur by Thursday. However, it seems, according to analysts that the markets are betting on good news. The euro area would have a backup in case of a negative vote.

So, in the wake of Wall Street Monday closed sharply higher, Bourse de Paris amplifies gains the previous day. The Cac 11 hours 40prend to 0.77% at 3825.83 points.

On the currency markets, the euro is stable against the dollar at 1.4279 dollar.For their part, oil prices rebounded in electronic trading in Asia Tuesday and remained under pressure, before the 48-hour strike in Greece to the appeal of unions to protest against austerity measures, analysts said . In morning trading, a barrel of "light sweet crude" for delivery in August gained 36 cents to 90.97 dollars.That of Brent North Sea crude for August delivery was taking 25 cents 106.24 dollars.

Housing: housing starts and building permits up

On the macroeconomic front, the number of starts of new homes increased by 11.4,% year on year in France for the period from March to May, while the number of building permits for these homes has increased 4.3%, according to figures from the Ministry of Housing.

At 18 hours, will be published the figures for registered job seekers and offers collected by the job center in May.

In the U.S., the S & P / Case-Shiller of home prices in April (15 hours) and consumer confidence in June (16 hours) are also expected.

Carrefour jumps, Casino unscrews

Against a background of optimism about the outcome of the parliamentary debate on the budget austerity in Greece, the banking sector performs well: Crédit Agricole climbed 2.50% to 9.87 euros, Societe Generale is 1.54% to 38.25 euros, BNP Paribas rose 1.10% to 50.71 euros and Natixis gained 1.04% to 3.29 euros.

EADS: 0.09% to 22.07 euros

China could control dozens of Airbus during a visit of Chinese Premier Wen Jiabao Tuesday in Berlin, said on Monday sources familiar with the matter credit report.

Carrefour: 1.97% to 26.86 euros; Casino: -3.58% to 64 euros

The distribution group received Monday a "proposal" to create Gama Brazilian joint venture equally owned by both groups in Brazil, the latter to eventually become a shareholder of Carrefour.Casino intends to disturb their alliance, saying the project "hostile", prepared in secret, but against which "has the power to oppose."

In addition, the rating agency Fitch has downgraded the French retailer Carrefour up a notch to BBB +, along with a negative outlook, expressing concern the pace of recovery activities and French pressure from shareholders, according to a statement Tuesday.

Thales: 0.46% to 28.52 euros

According to an internal study cited by the Tribune, the electronics group shows a drastic decrease of 13% of customer satisfaction since the arrival of the new direction. Some regret the centralization of applications and other lack of attention to their concerns.

Lagardère: 2.95% to 28.57 euros

Analysts at the Swiss bank UBS raised their recommendation on the title to "buy" against "neutral" before.

Trigano: -3.36% to 22.27 euros

The specialist for caravans and motorhomes has said it expects a sales growth and results in 2011, following growth of 8.2% of its business in the third quarter, which covers the period from March to May

Teleperformance: -4.49% to 19.90 euros

The global call center cut its operating margin target in 2011 because of the recent slowdown in its business in the United States.

BioAlliance Pharma: 2.33% to 6.15 euros

The biotechnology company said it had filed with the French Drug Agency an application for leave to Phase III clinical trial for Livatag, treatment of primary liver cancer.

CGG Veritas: 1.14% to 23.45 euros

The group signed with the oil services group Bourbon marine services to offshore oil and gas a charter contract for five years to six new vessels support and assistance to its seismic surveys.

Alstom takes 14 hours to its General Assembly on Tuesday.