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Greece Tripping the CAC 40

Monday, May 9th, 2011

The sessions will follow, but does not resemble the Paris Bourse. The CAC 40 is up in the red on Monday, after climbing from 1.33% Monday, following good U.S. job figures released Friday. The index in Paris dropped by 1.25% to end 4007.26 points at closing and narrowly saves the threshold of 4000 points which had been lost during the day.

The other European financial centers retreating in unison. The Dax in Frankfurt Stock Exchange lost 1.09% to 7410.52 points and the London FTSE loose 0.57% to 5942.69 points.

S & P demoralizes markets

Poor market sentiment was caused by the decision of the rating agency Standard & Poor's on Monday lowered by two notches the rating of Greece, due to the increased likelihood of debt restructuring .It also warned it could further lower.

The rating of the country's long term debt is reduced to "B" cons "BB-", which meant that Greece became deeply into the category of unreliable borrowers. His short-term debt is rated for its part "C" cons "B" before, according to a news agency. These ratings remain on negative watch, meaning that the agency could decide quickly lower them again. S & P said its decision on the fact that governments in the euro area, which have agreed to postpone the due date for repayment of their loans to Greece, could be tempted to demand a similar effort on the part of private creditors the country.

After this announcement, the euro goes off in decline against the dollar, trading at 1.4287 dollars at the close of European markets.

Investor sentiment decline

On the macroeconomic front, Bank of France (BoF) provides a first estimate of growth of 0.5% in the second quarter of this year. BdF anticipates a 0.7% gross domestic product for the first quarter.

The business survey from the Bank of France reported a moderate increase in activity in industry in April.The business climate indicator in industry decreased by three points to 107 while in services it has dropped one point to 102.

Investor sentiment in the euro zone fell again in May, with an index standing at 10.9 after 14.2 in April and 17.1 in March, the monthly survey showed Monday from research firm Sentix .

Financial stocks unscrew

Financial stocks post steepest declines in the CAC 40, while the financial situation of Greece worried, so much so that a new EU aid is getting ready by 2012. AXA (-3.52% to 14.65 euros) is an outlier of the index. It is followed by BNP Paribas (-2.74% to 52.94 euros), Societe Generale (-2.62% to 42.18 euros), Credit Agricole (-2.58% to 10.75 euros) and Natixis (-2.30% to 3.81 euros).

Rumors of transfer and acquisition for Lafarge at GDF Suez

CNP Assurances: -3.60% to 14.73 euros

CNP Assurances reported Monday a net profit in the first quarter down 3.6% to 270 million euros, affected by a strong contraction in sales (-14.1%).

Lafarge: -1.31% to 45.07 euros

Lafarge and Anglo American want to sell 600 million pounds (680 million euros) in assets to their new joint British company, whose creation was announced last February, the Financial Times.

GDF Suez: -2.32% to 26.09 euros

GDF Suez wants to establish a renewable energy division and will consolidate its ten subsidiaries producing green energy in France, according to Les Echos.Also according to the economic daily, the group would be interested in the Italian Sorgenia, 52% owned by the holding of the CIR De Benedetti family and 45% by the Austrian Verbund.

Euler Hermes: -7.67% to 66.13 euros

The credit insurance group Euler Hermes has done in the first quarter 2011 net income rose 58.2% to 75.3 million euros thanks to the continued recovery of the global economy observed in 2010. Turnover increased 7.6% to 544.1 million euros.

Iliad (Free): -0.31% to 87.55 euros

Numericable could announce the launch of a mobile telephone within 40 euro on Wednesday as well and hunt on the land of the Free (Iliad). The mobile virtual network operator (MVNO) that rents the network Bouygues Telecom is the origin of the site larevolutiondumobile.com.The group has denied wanting to launch an unlimited mobile plan.

On the podium of the largest increases Cac 40 include Alcatel Lucent (3.80% to 4.36 euros), STMicroelectronics (1.31% to 8.12 euros) and Accor (0.90 to 29% , 12 euros).

Vilmorin: + 1.40% to 86.95 euros

Vilmorin is up over 8% of its consolidated revenues for the year which ends in late June, when he was counting on this to 7%. The group also announced an operating margin target of 13% throughout the year, against 10.3% in 2009-2010.

Technip: 1.26% to 71.79 euros

Technip won a contract worth approximately EUR 55 million from Statoil for the development of the Vigdis field NE, located in the Norwegian Sea.The contract includes the supply of pipes to be installed by mid-2012 in water depths of 220 to 310 meters.

Air France-KLM: -1.91% to 12.04 euros

The passenger traffic of Air France-KLM jumped 23.1% in April, an increase that is "not significant" compared to April 2010 during which the European sky was blocked by the eruption of an Icelandic volcano, said Monday the airline group. In the past month, Air France-KLM carried 6.36 million passengers (+28%).

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The father of CDs and former CEO of Sony is dead

Sunday, April 24th, 2011

A man at the crossroads of the worlds of music, technology and business. Norio Ohga, father of the "Compact Disc" and former boss of Sony, died Saturday at age 81. It was as boss of the Japanese consumer electronics that monitors closely the birth of the CD with its Dutch partner Philips in the early 80s. He insisted then that the disc 12 cm in diameter can hold 75 minutes of Beethoven's Ninth Symphony.

This commercial success and technological, which then lead to the emergence of DVD, will remain as the main weapon is to Norio Ohga. But it should not overshadow his work as head of Sony. "He transformed the Japanese conglomerate manufacturer of electronic products in a firm's creative music, movies and video games," says the Wall Street Journal."We were always digging the tracks that other groups did not dare to follow," explained Norio Ohga in 1998. "This is the real secret to our success."

Explosive path

His entry into the firm, like the rest of his career then detonates. Student in musicology at the University of Tokyo, in 1953 he impressed the executives of the firm which became Sony in a letter advising them of improvements to the prototype of tape. Hired as a consultant, Norio Ohga follow a rapid and brilliant trajectory within the company. He became one of the executive directors from the thirties, something extremely rare in Japan. In the '70s, he led negotiations with CBS that will lead to the creation of Sony Music Entertainment and will lead.

President of Sony from 1982 to 1995, Norio Ohga innovates. It supports the development of the Walkman, launched in 1979.In 1989, he led the largest acquisition at the time a Japanese firm abroad by offering the Hollywood studio Columbia Pictures for $ 3.4 billion. This maneuver discontent across the Pacific. Rumors will ever drive on the possible resale activity, difficult to make profitable. The real stroke of genius of the president Norio Ohga is unquestionably won his bet in video games. In the early 90s, he in fact supports the launch of the Playstation division within the group. It is now one of the largest departments of the group.

Debonair boss

Nohga Norio, Japanese boss atypical-described good-natured, not shy, and has an artistic temperament, however, has not as successful. Shortly after the launch of the CD, and it fails to impose its Betamax video format against HSV.Advisor to Sony these days, he could only see, in recent years, the cons-performance of its group. Sony did not see coming the success of the flat screen and has lagged behind its South Korean rival Samsung. In video games, Nintendo has his compatriot hewn cruppers. Even in the music industry, the Japanese has been exceeded. By innovations from Apple this time.

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The development of nuclear industry outstanding in the world

Wednesday, March 16th, 2011

"I ask for patience until that we have sufficient information available to review the issues discovered in central Japan to draw lessons for the future role of nuclear energy." When a visit to Oslo on Tuesday, Nobuo Tanaka, the president of the International Energy Agency (IEA) has expressed its fears that events in Japan to delay the development of nuclear energy worldwide. At a time when all eyes are on the plant in Fukushima, damaged Friday by a powerful earthquake followed by tsunami, and been shaken by four explosions, several countries have decided to test security at nuclear power plants.

"If I understand the public reaction, I am concerned about the effect this might have on support for this technology given its important role in energy security and the advent of a low-carbon economy," said Nobuo Tanaka. According to the World Nuclear Association, world production of nuclear electricity has reached terrawattheures 2560 (TWh) in 2009, representing 14% of the total electricity production. There are currently 443 nuclear reactors operating worldwide.On the other hand, according to a report published by the IEA in 2010, the development of nuclear energy should account for 6% of the solution in efforts to halve CO2 emissions by 2050 to limit to 2 ° C global temperature increase.

"The accident at the plant in Fukushima probably begin the prospects of civil nuclear power, especially in countries more cautious vis-à-vis this energy," said Louis Boujard, an analyst at Aurel BGC. In Germany, where 80% of citizens fear the use of nuclear power and 63% want the quick abandonment of this energy, according to a poll released Wednesday by the magazine Stern, Angela Merkel has closed three months for the seven nuclear reactors older the country, the time for their security screened. Switzerland has announced that his side have suspended its plans to renew nuclear power stations.A reflection on a possible postponement of projects were also started in South Africa.

Likely increase maintenance expenditure

One issue that does not arise in France. Nicolas Sarkozy reaffirmed on Wednesday the "relevance" of the choice of nuclear energy, "essential element" of the country's energy independence. He stressed the "excellence" dudispositif safety of French nuclear facilities. The Hexagon has 58 reactors that provide about 76% of the electricity produced. "For France, it is rather whether maintenance expenditure will be needed to increase plant safety, as part of the audit initiated by the government," said Louis Boujard. In this context, Aurel BGC has degraded the EDF shares to "buy" to "sell" with a price target reduced from 40 to 25 euros.

In fact, the stock market, the values ​​of nuclear suffered in the wake of the disaster in Japan. Areva has unscrewed the title Tuesday of 8.56% in Paris, having already won from 9.61% Monday, while EDF has lost 1.38% after a fall of 5.28% yesterday. On Wednesday, the title Areva took over and gained 3.21% in mid-session. The loss of EDF was limited to 0.51%. Conversely, the values ​​related to renewable energy are acclaimed by investors earlier in the week.

In France, EDF Energies Nouvelles has closed up 4.40% Tuesday, after a gain of 5.09% yesterday. The producer of electricity from wind Theolia jumped 14.17%, 1.69% after having nibbled on Monday. The title of the giant Danish Vestas Wind rose by 1.13% Tuesday, after an increase of 9.59% on Monday. Finally, the equipment manufacturer solar Renewable Energy Corporation (CCC) gained 11.61% Monday, and 2% on Tuesday."The events in Japan could lead to increased investment in solar or wind projects of around 10% per year over the next two years," said Rupesh Madlani, renewable energy specialist at Barclays Capital in London.

"Effect opportunistic" for renewable energy

For Louis Boujard, however, "a radical change in global energy mix is ​​not feasible in the long term." The analyst believes that the renewable energy sector has a stock market "effect opportunistic," even if he could win points with the public and governments. "Trade-offs may indeed promote the sector and we can consider a larger than expected development of green alternatives." But in terms of current capabilities, analysts point out that renewable energy can not completely replace nuclear in the long term.

To Rupesh Madlani, the gas will certainly be the biggest beneficiary of a possible sudden brake on nuclear power, because its combustion releases twice less CO2 than coal. But to remain in compliance with scenarios fight against climate change, consumption of gas itself must decrease from 2020-2025, recalled the analyst from Barclays Capital. In fact, the debates initiated in several countries for their commitment to raise another nuclear complex equation. "For climate, this can not be good news," says Cedric Philibert, an expert on renewable energy to the IEA. "What we must avoid is that a slowdown in nuclear development will result in a return to the fossil," he warns.

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Hospitalized: Pay even without sleeping rooms

Tuesday, March 15th, 2011

A single room can be billed to a patient even if he does not spend the night in hospital, following a decree of 28 February unnoticed but pointed Monday by the French Mutuality. This concerns, for example, a patient arriving at 7 am and departing 15 hours after cataract surgery in ambulatory surgery and having a "room only". Purpose: "to get schools to make the outpatient rather than inpatient hospitalization," said the Ministry of Health. The ambulatory is praised by patients and costs less to Safely. But its development was melting – from 10% to 15% per year, according to a clinical pattern – a major resource clinics and hospitals: billing, tariff free, a private room, paid by the patient or its complementary health.

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Wall Street resumes in the red

Tuesday, February 22nd, 2011

Unsurprisingly. Wall Street is on Tuesday affected by fears surrounding the situation in Libya and, since yesterday, saddled European markets. In early trade, the Nasdaq 100 and Standard & Poor's 500 index retreating to 1.60% respectively in 2789 and 1.14% points to 1328 points. The Dow, meanwhile, loose 0.33% to 12,350 points.

The effects of "Q2" against the Arab turmoil

If they have, until now, very resilient to the turmoil in the Arab world, the U.S. stock markets are more worried about today. Especially since they reopened after a holiday, the "President's Day," which pays tribute each year to all U.S. presidents.Indeed, the violence that affects Libya causes mad surge in oil prices, which can only worry about global markets.

The basket price of twelve grades of crude oil, which serves as a reference to the Organization of Petroleum Exporting Countries (OPEC) has topped the $ 100 to $ 100.59 dollars, according to a statement released Tuesday by the organization.

Wall Street, driven so far by the doping effects of monetary easing "Q2" of the Federal Reserve is struggling to keep international tensions at bay. The question is whether investors will succeed still appreciate as it should be different and promising corporate results and statistics of the day:

– Prices of detached houses fell in December in the U.S. for the sixth consecutive month, shows the S & P / Case-Shiller index released Tuesday.This index, which measures prices in 20 metropolitan areas, shows a decrease of 0.4% CVS a month to month in December, in line with analysts' expectations, and after a decline of 0.6% in November.

Two other macroeconomic indicators are on the agenda: consumer confidence, expected at 64 against 60.6 previously, and the manufacturing index of the Richmond Fed Expected to 17 against 18 previously guaranteed online personal loans.

Home Depot, Hewlett-Packard and Wal-Mart shelves

United States, the agenda includes business publications to the scale this week alone on Tuesday, investors will analyze carefully the publications of Hewlett-Packard (after market), Chesapeake (after market), Macy's, Medco, RadioShack, Wal-Mart.

Home Depot (0.60% to 38.71 dollars) has to sacrifice in the exercise.And the American chain of DIY stores has exceeded market expectations during its year ended in late January, with net income of $ 3.3 billion, up 25.4% year on year. Based on the number of shares, earnings were $ 2.01 million, which exceeds the amount of $ 1.98 expected by analysts and the company's own forecasts, which occurred in December (1.97 dollar ).

Chesapeake (4.78% to 31.89 dollars) will be doubly guarded, BHP Billiton (0.65% to 92.79 dollars) have announced yesterday the acquisition of a unit owned by Chesapeake and pipelines for a total total of $ 4.75 billion in cash. "The transaction increases the reserves of natural gas from Australian band of 45% amplify analysts Aurel BGC.The announcement comes just three months after BHP had given up to get their hands on the Canadian Potash Corp.. "

Soaring oil prices weighs on European values of the air. ÀWall Street, sector values are also suffering just like Delta Airlines (-6.78% to 10.72 dollars), United Continental Airlines (-6.54% to 25.16 dollars), U.S. Airways (-7 12% to 9.03 dollars and Jet Blue (-3.53% to 5.88 dollars).

Moreover, the U.S. electronic stock market Nasdaq (-2.17% to 28.46 dollars) and the Singapore Exchange (SGX) announced Tuesday a partnership whereby the companies listed in southeast Asia and India will have new communication tools and information.

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Lagardere sells at high prices to its Hearst Magazines International

Monday, January 31st, 2011

In a forced march. Less than a month after announcing the opening of exclusive negotiations with U.S. publisher Hearst, Lagardère has completed the sale transaction of its global news division.

According to our information, the operation reached a total value of 720 million euros, 650 million in cash and 8 million a year in royalties under the license for Elle magazine. What credit the women's magazine with a net present value of at least 70 million euros.

Lagardere, which has a framework agreement for this purpose in several countries, will retain ownership of the brand, merchandising and will have a say on the editorial line.

If Lagardère now refocuses on France, it protects the passage of one of its most beautiful asset in the national territory through a licensing agreement with a purchaser Hearst.Finally, Lagardere keeps 30 million euros of real estate that he intends to sell later. The scope of the operation on 102 newspaper titles in 15 countries. Neither Hearst nor Lagardère were willing to comment on the Sunday operation.

This sale is expected to positively surprise the market. Aware of the nuggets of the group as the 42 versions of Elle magazine and the 12 international versions of Psychology, the latter assumed an amount exceeding 500 million euros, but its high estimate never exceeded 700 million. Is roughly the turnover of the international press center, which has 5,000 employees and 58% of the total turnover of the entire magazine division of Lagardère. The latter amounting to 1.270 billion euros.

Leader

Finally, the United States, Lagardère is also the publisher of prestigious brands such as Car & Driver (1.3 million copies) and Woman's Day (3.8 million). What have raised the stakes throughout the negotiations.

This operation will therefore allow the French group company debt in late 2011 and get him out of an industry where it considers no longer have the critical mass to compete favorably and restructure. In 2009, the victim of a sharp downturn in advertising, more marked than in France International, the group had already sold five U.S. specialty magazines (Popular Photography, Flying, Boating …) to the publisher Bonnier. He had also arrested a half-dozen magazines in the world.

For his part, Hearst consolidates its leading position in the magazine not only on its home market but also globally.The latter has a total turnover of $ 4 billion and employs approximately 20,000 people worldwide. He holds a dozen magazines like Harper's Bazaar – the biggest competitor of Elle – Cosmopolitan, Esquire, Country Living with nearly 200 international versions. If the strategy is clear to the American group, Lagardère will now have to convince his own. Last week, he emphasized his desire to concentrate on its subsidiary Sports Unlimited.

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Facebook raises $ 1.5 billion

Sunday, January 23rd, 2011

Rumors say so true. Facebook, the community site that boasts more than 500 million active members, confirmed in a statement increased its capital by 1.5 billion dollars (1.1 billion euros), which was made on the basis a recovery group of about 50 billion dollars (36.7 billion euros). The investment bank Goldman Sachs has coordinated the operation.

As stated in Facebook, the transaction was done in two stages: first, last December, the shareholder of Facebook Digital Sky Technologies (DST), together with Goldman Sachs and a fund managed by Goldman Sachs, invested $ 500 million in common shares. Then an offer was oversubscribed to customers outside the United States of Goldman Sachs, in a fund that has invested $ 1 billion in common shares.

Facebook wants to reinforce its dominant position

The direction of Facebook is evasive about the use being made of that sum. "Our business continues to perform well and we are pleased to strengthen our cash with this new financing, says CFO David Ebersman. We now have greater financial flexibility that will allow us to explore any opportunities that we will be offered. In a statement, Facebook said also to have no "immediate plans" to use this sum but will continue to "expand its operations."

According to observers, the group will seek to strengthen its position in obtaining advertising revenue against direct competitors such as Google and Yahoo.

More financial information in 2012

In addition, the site of Mark Zuckerberg should start to publish financial accounts at the latest by April 30, 2012, which can be interpreted as a first step toward an IPO. At this level of valuation, Moreover, this is one of the most important marketed in the technology sector of the U.S. stock market history.

Facebook is anyway back to the wall. U.S. authorities require a company to disclose certain financial items as soon as its number of shareholders exceeds the threshold of 499. Now in its news release, the community site announcement that it should exceed the 500 shareholders "in the course of the year."

According to a document distributed by Goldman Sachs to potential investors, Facebook has posted a net profit of 355 million dollars (260 million euros) over the first nine months of the year on a turnover $ 1.2 billion.

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Scholarships Chinese restart Backwards

Monday, January 10th, 2011

While the Tokyo Stock Exchange is closed for public holidays ("Coming of the Age Day" or "the transition to adulthood) – Japan celebrates all youth who come of age (20 years) – Scholarships Asian operate in a disorganized Monday. On Friday, Wall Street closed down after the U.S. reported 103,000 jobs created while the consensus expected 175,000.

After opening up the Asian financial centers are ironed into the red.The CSI 300 Index of Shanghai Stock Exchange was down 0.84% at 3140.02 points and the Hang Seng Stock Exchange of Hong Kong lost 0.13% to 23,665.20 points.

Export values show the largest declines on Monday: Lenovo drops from 3.98% to 4.82 HK dollars, 1.31% Esprit Holdings cowardly to HK $ 37.600.

China trade surplus down slightly

China reported a trade surplus declined in 2010 to $ 183.1 billion against 196.1 billion in 2009.These figures come at a week's visit of Chinese President Hu Jintao, U.S. (from January 18 to 21), in which the undervaluation of the yuan and trade imbalances it creates should be mentioned .

In other areas of the region, the KRX 100 Index dropped 0.95% to 4418.26 points, the BSE Sensex 30 Index yields 0.80% to 19,534.50 points and the Straits Times Index was down 0.10% to 3258.03 points. Conversely, Taiwan TAIEX Index of the Taiwan Stock Exchange gained 0.40% to 8817.88 points and the S & P / ASX 200 Index of the Stock Exchange in Sydney ahead of 0.16% to 4712.30 points.

Pressure on crude prices after the incident in Alaska

Crude prices were up Monday in electronic trading in Asia, while a olédoduc across Alaska which handles 12% of U.S. oil remained closed, said brokers.In morning trading, a barrel of light sweet crude for February delivery took $ 1.47 to 89.50 dollars. Of Brent North Sea with identical maturity climbed from 92 cents to 94.25 dollars.

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SNCF TGV fares "for all"

Sunday, December 12th, 2010

"Our fares TGV must be accessible to all." In an interview with Journal du Dimanche, Guillaume Pepy, SNCF boss, so promise lines tickets remain affordable despite the signing on Monday of an agreement with the State that provides for a rate increase TGV.

This agreement will establish "a tax on the TGV, a levy on profits from the station and a tax on toll roads" to finance the "trains of balanced land", these lines interregional deficits, which are neither TGV or regional routes.

SNCF had received in exchange for this agreement, permission to set rates more freely of its TGV. "We work so that the impact on rates is limited. We are in talks.These should be completed around the second half of January, "said Guillaume Pepy.

Last week, Secretary of State for Transport, Thierry Mariani, had sparked controversy by expressing sympathy for an increase "quite reasonable" rates TGV, taking into account inflation.

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The G20 brings Beijing and Washington under pressure

Thursday, November 11th, 2010

The figure fell Wednesday as a chopper, even though the G20 summit opens in Seoul on Thursday morning. Chinese exports surged in October by 22.9% over one year to 135.98 billion dollars, while imports rose 25.3% to 108.83 billion dollars. Result, Beijing has a trade surplus of 27.15 billion dollars against 16.88 billion in September.

It does not take more that China was in the front line in the crosshairs of the world. Washington, which calls up the yuan, undervalued by 20% to 40% against the dollar as the U.S., announced Wednesday also, a trade deficit of $ 44 billion for the month of September, which can not but bring water to his mill.

But the United States is also charged with monetary policy being too lax.That is why President Obama, just arrived in Seoul Wednesday night, felt compelled to rebut criticism that his country wants to weaken its currency to regain market share abroad. "The strength of the dollar depends on the strength of the U.S. economy. A strong recovery and job creation and wealth, is the best thing the U.S. can make to the global economy, "he said in an open letter published in the South Korean capital.

While the British prime minister, David Cameron, speaking from Beijing University, calls on China to "continue opening its markets and work with other G20 countries to rebalance the global economy" President Hu Jintao payday loan boot button.

"The foundations of the recovery are not strong enough and progress are not well distributed throughout the world," said the Chinese number one before adding to the Xinhua news agency: "It is necessary to respect the characteristics of each country well it must take into account everyone's interests. "

Beijing and Washington are more than ever on the spot, even though the G20 countries, which together account for nearly 90% of the global economy, arrived in Seoul deeply divided. A draft communique put together by representatives of their finance ministers, which necessitated a day and a half of work, led only to a cryptic text citing "exchange rate more market determined" and hesitating between the fight against the "competitive devaluation" and "sub-assessments competitive."

Thorny problems

Similarly, to reduce economic imbalances, the U.S. would like the major exporting countries restrict their current accounts surplus, but the latter, starting with China and Germany, do not want to hear about its quantified .

So many reasons that promise, according to German Chancellor Angela Merkel of "tough discussions", while the French Minister of Economy Christine Lagarde, is even more brutal. In his view, the "war of currencies" do "is resolved in Seoul."

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