Posts Tagged ‘top news’

The CAC 40 oscillates around equilibrium

Wednesday, January 13th, 2010

While the U.S. exchanges fell back into the red Tuesday – the deteriorating trade balance, coupled with poor results from Alcoa weighed on the trend – Asia closed the Wednesday meeting ground largely negative. The stock index in Asia was down 1.85% at 3052.73 points, with a decline in the Nikkei 1.32%, to 10,735.03 points. The announcement yesterday by the Bank of China to raise the reserve requirement ratio to major banks and a rise in interest rates on treasury bills to one year have replenished the prospects for closer Currency in China.

In Europe, it is the hesitation that dominates. Fellowships, yet influenced the decline in the wake of other large places, managed to hang in balance or even exceed it slightly. Around 10:30 am, the CAC 40 is timidly 0.13% at 4005 points, and save the 4,000-point mark.The DAX index of 30 blue chips of the Frankfurt Stock Exchange operates similarly, from 0.13% to 5.950 points.

Macroeconomic side, the consumer prices in France rose slightly in December compared to the previous month (+0.3%) and are up 0.9% year on year, said Wednesday INSEE. In Germany, GDP dropped by 5% in 2009, after +1.3% in 2008.

At noon, the European surveys monitor monthly business survey for December. And at 16:30, the U.S. will unveil its weekly inventory of crude oil. Well after closing at night, the president's speech to the Philadelphia Fed Charles Plosser, the U.S. economic outlook will be closely followed.

Societe Generale launched a "profit warning"

On the values front, the news this early morning is the profit warning from Societe Generale.The bank said today that it expected record results "slightly" profit in the fourth quarter of 2009, below market expectations, due to the recording in the accounts of a negative impact of 1.4 billion ' euro-related assets at risk. The titles fall of 4.84%, to 49.17 euros, showing the worst performance of the ACC. In this wake, the banks are struggling. Credit Agricole (-2.28%), Dexia (-2.05%) and BNP Paribas (-1.78%) are in the end list.

Renault (+0.25%) continues to rattle the government. The state also largest shareholder, was summoned to renounce a possible relocation of the production of the Clio in Turkey raises numerous critics. Today, a meeting between Minister of Industry, Christian Estrosi, and the CEO of Renault, Patrick Pelata, is provided.The manufacturer has provided reassurance in a statement that no "decision had been taken at this stage."

Topping the charts of ACC 40, Figure Carrefour (1.54%). HSBC has initiated coverage of the title with a neutral recommendation and a target price of 37 euros. After L'Oreal (+1.42%), Pernod Ricard (+1.06%) and Danone (1%).

In contrast, Saint-Gobain fell by nearly 1.2% after seeing lowered its recommendation to "neutral" by analysts at Credit Suisse, cons "outperform" before. Schneider Electric lost 0.6%, UBS changed from "buy" cons "neutral."

On the DRS, Thales (+1.3%) is doing well.

Xiring (+9.15%) announced yesterday after market sales for the fourth quarter 2009 from 9.3 million euros, unchanged from the fourth quarter of 2008.Esker (-3.2%) for the same period, revealed an activity of 5.9 million euros (+5%).

Cellectis (+2.71%) announced the signing of a licensing agreement with Bayer HealthCare, the healthcare division of the international group Bayer.

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Occupation: No recovery until 2011

Friday, December 25th, 2009

The stabilization of the unemployment rate to 9.1% of the workforce, the French plunges further into the past: in early 2006, when the indicator peaked at a similar figure, before falling to unprecedented s 'is followed. In total, during the year 2009, the weak economy has had reason to 373,000 jobs, an increase in the number of job seekers by 20.3%. A particularly tough fall for the industry, which has accumulated during that dark year structural and cyclical crises, destroying nearly 100,000 jobs for the first half of 2009 alone.

Measures directly aimed at boosting the labor market, set up under the stimulus plan, however, seem to have limited the damage. "Put in connection with money taken by other countries, the stimulus is small.But the measures for use therein have been good "said Eric Heyer, Deputy Director at OFCE.

Offset

In total, the government estimates at 400,000 the number of jobs created or preserved by all actions taken under the recovery plan partial unemployment, subsidized contracts, extending device reclassification professional device "zero charge" for the 'hiring of an employee by TPE … -. If this figure is currently not verifiable, stabilizing unemployment announced by INSEE in the third quarter of 2009, and out of recession that began in the second, appear reassuring signals. … While analysts agree today to find that the adjustment of the labor market is still far from complete.

When is therefore a market recovery in employment and lower unemployment? Not before 2011, say the economists."Growth of 1.3% proposed by employment center for 2010 will not be sufficient to generate net new jobs," said Ernst and Bernard, director of statistics, surveys and forecasts for employment center. "Given the French productivity, only a growth above 2.5% would generate" confirms Eric Heyer, highlighting the gap of three quarters generally observed between resumed growth and lower unemployment rates. Same story with Nicolas Bouzou, economist at Altars, which estimates that unemployment will stabilize at best in 2010. "The problem is that this stabilization occurs at a high level," says he.

Brakes

Various factors should indeed help to limit the decline in unemployment in the months ahead.First, partial unemployment: as he has played a buffer role on the labor market by reducing redundancies, it should eventually stop the resumption of hiring. The 143,000 employees have benefited from the device indeed logically gather their full-time position, in priority to any additional recruitment. Second brake that is particularly Eric Heyer: the reinstatement of unemployment discouraged job seekers. "The stabilization of unemployment in the third quarter was partly due to traditional discouraged jobseekers less well positioned on the labor market.When the activity will leave, they re-subscribe, mechanically limiting the decline in unemployment. "An argument that employment center does not yet resumed its consideration.

If the unemployment rate should best pursue its stabilization in 2010, an additional shadow is looming: While the acceleration slows overall unemployment in recent months, the increase in long-term unemployed, who thus lose some little employability, increasing gradually. "The first people to find work are generally those who have been unemployed for some time. The number of long-term increases so mechanically, and should in this case continue to grow in first quarter 2010.

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Sino-French three proposals Christine Lagarde

Friday, November 27th, 2009

Last April, the presidents Hu Jintao and Nicolas Sarkozy have had a fruitful meeting with the G20 summit in London, putting the Sino-French relations over the rail of a healthy development. Recently, they met in New York, reaffirming their commitment to the comprehensive strategic partnership between China and French. To realize this convergence of views, to echo the call of the business communities of both countries and strengthen economic cooperation and bilateral trade, a delegation from the Ministry of Commerce of China and a "mission of promoting trade and investment "consists of 290 Chinese entrepreneurs from more than 140 companies, travel these days in France.

Despite the challenges of all kinds, economic cooperation and Sino-French trade has always grown at a steady rate.In 2008, the volume of our trade reached a record 38.9 billion dollars, an annual increase of 16%. Today, more than 2 000 French companies are operating in China, their combined sales amount to 25 billion dollars per year, equivalent to twice the amount of French exports to China. Our two countries have conducted fruitful cooperation in various sectors such as energy, aeronautics and aerospace, transportation, etc.. The France is the fourth largest European trading partner of China; it the first partner of France in Asia.

Despite the crisis, our companies have succeeded in finding new business opportunities. Of the first ten months of the year, bilateral trade volume reached 27.75 billion dollars.French exports to China have registered a decrease of 11.9% better performance than that of the foreign trade of China and Sino-European trade, which shows the opening of our recovery plan for French exports. More than 140 companies with French capital have been created in China during this same period, averaging one new company every two days.

The path the world economy of early recovery to a new growth cycle will be long and tortuous. The Chinese government, putting priority on expanding domestic demand, has developed a comprehensive plan. The results are there and the target of 8% growth for 2009 will be realized.

China has also sent a dozen missions to promote trade and investment to over 30 countries and made its contribution to the global economic recovery.The assertion that the crisis will be following the global economic imbalance due to large surpluses in Asian countries is without foundation. The imbalance between developed countries and developing deserves much more attention. Alas, this néothéorie world economic imbalance is in the process of furthering trade protectionism, threatening the economic recovery. The seventh meeting of trade ministers of WTO will take place in a few days, during which will be assessed progress in the negotiations of the Doha Round. The short term success of this cycle is essential to curb trade protectionism. I also make three proposals on bilateral Sino-French. First, increase exchanges between our companies.Recently, we welcomed the visit to China by Ms Christine Lagarde, who took with her famous French companies. And in early December, the third edition of the business convention "China Europa will be held to Le Havre. Second, turn challenges into opportunities, especially in emerging sectors such as the green economy.

Our two countries should deepen cooperation in areas such as new energy, environmental protection, transportation, aeronautics and aerospace, focusing on certain projects. At the same time, China is experiencing strong demand in services sectors such as finance, logistics, tourism, creative industry, software development. It will welcome French companies in its market.Thirdly, provide more facilities to increase the cross-investment, French and Chinese in China in France.

China and France are linked by a history of friendship. In the early twentieth century, many young Chinese have gone to France to study, including Zhou Enlai and Deng Xiaoping became the founding of new China. General de Gaulle made France the first major Western country to establish diplomatic relations with new China. Today it is for us to consolidate the traditional friendship between China and France.

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