The New York Stock Exchange opened higher on Tuesday, supported by better than expected results released Monday evening by Alcoa.
A few minutes after opening, the Dow Jones industrial average thirty largest U.S. took 1.09% to 10,327.29 points, the S & P 500 index fund manager, gained 1.15% at 1091.15 and the Nasdaq, heavily weighted to technology, advanced 1.17% to 2225.89.
Alcoa, the first value referenced in the Dow, accounts for 2.21% at the opening after reporting late Monday results exceeded expectations under its second quarter, prompting investors to hope that other heavyweights the economy in their turn to share optimistic news.
The railroad company CSX also pleasantly surprised markets Monday and its shares gained 1.43% in early trade.
The avalanche of results which will soon go off just in time for investors who were reluctant in recent weeks on how to proceed.
"The problem in markets is that there was a lack of visibility and now we have," said Wayne Kaufman, John Thomas Financial in New York.
Wendel and his former Chief Executive Jean-Bernard Lafonta subject of proceedings before the Sanctions Committee of the Financial Markets Authority (AMF) on the climb to the capital of Saint-Gobain, writes Le Figaro.
The procedure relates the position that Wendel indirectly held in Saint-Gobain, through derivatives, where the investment firm said to have crossed the threshold of 5% stake in the building materials group in September 2007 by daily.
It would be of Wendel was whether the market informed of the existence of its position in derivatives that indirectly strengthened its position in round of Saint-Gobain.
Grievances reported several months ago by the College of the MFA will be reviewed promptly by the sanctions committee, said Le Figaro.
A spokesman declined to comment Wendel information Friday morning.
The AMF was not immediately available to provide comment.
The International Monetary Fund (IMF) estimates that the economic recovery of the United States proves stronger than expected but still weakened by high unemployment and a moribund housing market.
The IMF has slightly raised its outlook for U.S. growth to 3.3% for 2010 and 2.9% for 2011, but he added that unemployment would remain above 9% for two years, with inflation still low.
In a statement released Thursday after annual consultations with the U.S. authorities, the IMF considers that the recovery from the recession is affirmed by an efficient reaction of the authorities in monetary and fiscal policy.
"The outlook has improved with the recovery but weaknesses remain in household balance sheets and financial services, combined with high unemployment may slow private spending," observes the Fund.
Angela Merkel said Wednesday that the euro had stabilized and he had a better basis than before the debt crisis of the Greek through measures to reduce the debt established in the euro area.
"The euro has stabilized," Merkel said in an interview with German television station N24, according to the text released by the media.
"This is an important signal that banks are conducting stress tests and we have more transparency in the system.And it is gratifying that in contrast with what was in the spring, almost all European countries are now saying that we need to reduce deficits and reliance has structural reforms. "
She added: "Once fully implemented the measures decided reliance has, it will mean that the euro is a stronger base than before the crisis. We must await the results of resistance testing. But we are ready, aves rescue measures of the euro, to stabilize the euro at any time. "
Greece became the second most risky in terms of sovereign debt due to a deterioration of its debt in the second quarter, a survey of CMA Datavision.
Athens was still in the ninth position of the most risky in terms of sovereign debt in the first quarter, said CMA.
The cost of protecting against a default in the country five years on its debt (credit default swap) has jumped to 1,003.4 basis points (bps) in the second quarter.There is a probability of 55.6% of default of Greece in the five years.
Greece is also the countries with the worst performance in the second quarter with an increase of 190% of its CDS, followed by Belgium with the CDC have increased 168.5%.
Spain completes the podium with a jump of 129.2% of its CDS, while Portugal and France are respectively the fourth and fifth worst student with an increase in the cost of protection on debt of 129.2% and 112.3%.
In absolute terms, Venezuela, with CDS has reached 1305.7 bps remains the country's riskiest ranking made by the company study the risk of default on debts, Caracas, with a probability of default to five years' s raising to 58.7%.
Iceland and Egypt are instead left the group of the ten riskiest in the world, unlike Romania and Bulgaria which joined the top 10 at the eighth and tenth positions respectively, their banks being heavily exposed to Greece.
Among the safest countries in the world are still Norway and Finland, which continue to occupy the first and second place in the field, while the U.S. is hoisted from the tenth to third in favor of improving the credit situation in the country.
Germany, which is a reference in the euro area sovereign debt, and the Netherlands have however slipped in the rankings of the safest countries.
Germany has dropped to third from sixth place the first three months of the year and the period April-June The Netherlands has them in eighth place after being in sixth place three months earlier.
For a chart on the classification of CMA Datavision, click on:
here
U.S. stocks finished lower Friday as investors questioned the robustness of recovery after the announcement of job losses in the U.S. were added to several indicators considered disappointing.
The Dow Jones ended down 0.47% at 9686.48 points, while the Standard & Poor's 500 index also lost 0.47% to 1022.58 points.The Nasdaq composite yielded 0.46% at 2091.79 points.
For the week, the Dow lost 4.5%, the S & P 5% and the Nasdaq 5.9%.
The U.S. economy is destroying jobs last month – 125,000 – for the first time since the beginning of the year, with the end of thousands of temporary contracts in the public sector related to the identification and recruitment of fewer than expected in private.
The unemployment rate however declined to 9.5%, its lowest level since July 2009, the final output for the labor market of some of the unemployed.
The sharper drop than expected industrial orders in May also weighed on the trend.
Another sign of concern, the moving average 50 days of the S & P 500's fell below its moving average 200 days. This configuration, which sees an average short less than an average long known as the "cross of death".
The phenomenon between the moving averages at 50 and 200 days happened the last time in December 2007, shortly after the market had begun a decline that had led the S & P to its lowest in 12 years.
On the front of values, financial values and sensitive to economic cycles have been neglected.The S & P 500 financials fell 1.1%, as well as some consumer values.
Volumes were thin, many players who left the office earlier in the weekend of Independence Day. The markets will be closed Monday.
In contrast, values were sought after biotech news reports that Sanofi-Aventis prepare a large acquisition in the United States.
Biogen gained 5.76% to U.S. $ 49.42, Allergan 62.29 dollars to 7.21% and 5.9% to Genzyme 52.80 dollars.
Growth in manufacturing output slowed in June in Europe, the euro zone even dropped below four months, further indication of lack of breath from the economic recovery in the region.
The final results of the survey conducted among Markit purchasing managers, the PMI manufacturing sector in the euro area stood at 55.6 in June, a level consistent with the flash estimate and slightly below the 55 , 8 May.
Economists do not take the alarm to prevent a risk of sudden halt to growth in Europe, but it seems clear that economic activity has probably reached its maximum rate during the quarter just s' complete and that interest rates should be maintained at low levels until next year.
"In many Western countries, we will see the pace of economic growth slowed in the second half of the year.This is the path that one takes, "said Mark Miller, economist at Lloyds TSB Corporate Markets in London.
"In continental Europe, exports remain an engine of economic growth but I do not know how long this can continue."
In France, growth in manufacturing activity slowed for the second consecutive month the sector has continued to destroy jobs.By dipping to 55.8 in June, the PMI Markit / FASC has reached its lowest level since December 2009.
Similarly, the UK manufacturing activity slowed to its lowest level in 10 months when she had reached a high of 15 in May
In contrast, activity in Germany has kept pace in June than in May, with an index that has emerged even slightly higher than the first estimate published two weeks ago.
The slowdown in manufacturing activity is not unique to Europe and key emerging countries as well as India and especially China are also involved.
While economists do not expect a recurrence of the global economy into recession, some warn that most developed countries could face a protracted period of sluggish growth.
