The Tokyo Stock Exchange closed up 0.92% Tuesday, Japanese markets have erased all losses posted in early trading before going into the green and Register a fence frankly positive.
The Nikkei gained 88.59 points to 9,722.52 and the Topix broader took 3.23 points (0.39%) to 838.48.
The bankruptcy of Elpida, the first Japanese manufacturer of memory weighed on the sector, Advantest yielding 1.5% and Shin-Etsu Chemical 1.2%.
But this failure did, in the opinion of stakeholders had limited impact on investor sentiment.
In 2009 women earned on average 20% less than men in the private sector in working time equivalent, according to latest figures from INSEE. This is due largely to different qualifications. However, even within each occupational category, the differences remain. Of employees in an office in Caracas Noticias24.com website.
In 2009 women earned on average 20% less than men in the private sector in working time equivalent, according to latest figures from INSEE showed on Wednesday. "In 2009, the average net salary in full-time equivalent for women is 80% of men in the private sector and 87% in the public sector," wrote the Statistical Institute. The conclusion was the same for 2008. "This is due partly to a structure different skills," said INSEE, "for example, 19% of men are employees of private frameworks against only 12% of women." However, even within each occupational category, "gaps remain," added INSEE survey in the "Jobs and wages".
Among managers of private, women's wages is less than 23% and 21% in the public, illustrates INSEE, noting that the gap "can be partly explained by an effect of glass ceiling + +, but also by other elements such as choice of specialty training, industry or career paths. " This wage gap among executives is "much less important in under 25 than among older people," adds the INSEE, which also notes that the differences "are lower in other occupational categories."
Women are more part-time
A study by the Directorate of Coordination of Research, Studies and Statistics (DARES, Ministry of Labour) in 2008 and published on 2006, frequently cited, noted 27% of gross wage gap in the private sector (about 17% in hourly wages, working time to be equal). The gender differences are also visible in the activity rate and working time. If 70% of the population aged between 15 and 64 is active as defined in International Labour Office (worked, not even one hour during a given week), the figure drops to 66, 1% for women and up to 75% for men.
This gap is much reduced between 1975 and 2009 from 31 points to 9 "under the combined effects of rising female participation rates and a decline in male activity." He explains "a large part" by the presence of young children at home "for families of two children with one (or more) is less than three years, the participation rate of mothers is 54% while that of fathers is 92%. " Finally, women are more often part-time, which only partly explained by the presence of children. "Even among the employed and childless, the proportion of women working part time is 17 points higher than men." "This is so very often involuntary part-time, women are likely to work in the service sector where the use of part-time by companies structurally important", said INSEE yet.
If the benefits of U.S. distributors to appear this week are as unimpressive as the results published so far companies, keeping Wall Street at the height of nine months will probably be difficult to justify.
Specialists believe that stock market investing in the U.S. market may resist a further increase, even with an agreement in the Greek case Monday and indicators confirming that the recovery is underway to United States.
Trading will resume on Tuesday, the markets are closed Monday for President's Day.
For the year 2012 was less than two months and the benchmark fund managers, the Standard & Poor's 500 Index was up over 8%. It is already higher than what many analysts were predicting the end of the year.
The index ended Friday at 1,361 points, its highest level since May 2011. In December, analysts polled by Reuters estimated that the index would end from 2012 to 1340 points.
If the index passed beyond 1370, it would be at its highest since June 2008, to its level before the collapse of Lehman Brothers, which took place in September 2008.
As for Dow Jones, he approaches the psychological level of 13,000 points and the Nasdaq Composite, that of 3000 points.
OPPORTUNITY TO PURCHASE
At the NYSE, 85% to 90% of the shares are treated above their 50-day moving average, said Bruce Zaro at Delta Global Asset Management in Boston. This is normally a sign that the market is overbought.
Bruce Zaro does not exclude a decrease of the S & P in the region of 1260-1270 in the short term.
Some experts, however, a passage above 1370 would be a buying opportunity.
"I'm kind of on the sidelines waiting to see it, but I'm down from there if it snaps," said Stephen Massocca, at Wedbush Morgan in San Francisco.
The percentage of companies that have published better than expected quarterly results is 64%, according to Thomson Reuters data, 404 companies have already published their accounts . This percentage has certainly improved since the beginning of the period of publication of accounts, but it is lower than 70% the last four quarters.
Among the major retailers will announce their quarterly profits this week include Wal-Mart and Home Depot.
Apart from the results and the Greek case, which should find a solution Monday, few indicators will be published this week: home sales new and old, consumer confidence according to the University of Michigan and registrations Weekly jobless.
To be continued as the general assembly of Apple Thursday and accounts of the first fiscal quarter of Hewkett-Packard on Wednesday.
The CBOE volatility index, also called fear index, fell 7.5% Friday, to 17.78. It is below the level of 25 for over two months, suggesting that investors are less worried about stock market prospects.
Values to follow Tuesday at the Paris Bourse. </ P> * VALUE FINANCIAL – EU leaders could seal a final agreement on the second level of support Greece in the coming days, Monday and tried to calm an early debate on a proposed loan to Berlin to Greece Trust budget. </ p> The Prime Minister of Greece Lucas Papademos met after the summit in Brussels with EU officials and European Central Bank to discuss the details of the restructuring plan of Greek debt under negotiation with private creditors.</ P> * INSURANCE – Moody's Investors Service said Tuesday it had raised to stable from negative its outlook for the industry and damage to the French insurers maintained its negative outlook on the sector of 'life insurance. </ p> * CROSSROADS announced Monday the departure of its Executive Director responsible for growth markets, Pierre Bouchut, in which analysts had seen a candidate ; rieux to succeed Lars Olofsson. It Georges Plassat was chosen to succeed the CEO of the distribution group. </ P> * Renault, which owns 25% stake in Russian manufacturer AvtoVAZ, could take control via its alliance with Nissan in the first half of this year, said Monday the news agency RIA Novosti, citing About Sergei Chemezov, the chairman of the holding company Russian Technologies. </ p> * RENAULT and PSA PEUGEOT CITROEN – According to the Tribune, quoting unofficial sources, registrations of new cars have plummeted in January as planned in France, as a result of the context economic and very unfavorable comparison of early 2011, when the effect scrappage was still playing full. </ p> According to La Tribune, Renault fell by 45 %, 37% of Peugeot, Citroen Dacia by 31% and 18%. The two French manufacturers have refused to comment on the figures to be published Wednesday. </ P> * EADS – UBS moves from neutral to buy on the title with a target price raised 22 to 31 euros. </ p> * ACCOR – Nomura resumes coverage value with a recommendation to "reduce" and a target price of 19.50 euros. </ p> < p> * Veolia Environment – Morgan Stanley going to underweight-weight line on the title. </ p> * SOITEC, who had said it expected an operating loss "significant" in 2011-2012, has announced that it would be between 40 and 45 million euros. </ p> * EIFFAGE – JP Morgan goes underweight to neutral on the title.</ P> * NORBERT DENTRESSANGLE reported Monday night of "signs of slowing at the end of the year" in the business of its customers, in a macroeconomic context "showing progressive signs of slowing. "</ p> The group achieved in 2011 a consolidated turnover of 3.576 million euros, up 5.6% at constant exchange rates and like basis. The fourth quarter alone, the change in net sales was 4.2%. </ P> * ALTEN judge earlier this year "reassuring, if not encouraging," despite the depressed economic environment that characterized the end of 2011. "The activity in January remained satisfactory, comparable to last year," said Alten. Of 2011, consolidated sales increased by 14.5% at constant currency and constant perimeter, to 1065.7 million. The fourth quarter alone, growth stood at 12.5%. </ P> * DRY ENVIRONMENT, which in 2011 posted an organic growth of 6% of its sales of Business 424.2 million euros reported in 2012 on a build up its business in line with the last six months "in an uncertain macroeconomic environment." </ p> <p > Regarding the issue of participation in the Saur, including the assumption of an output, the chief financial officer Jean Geissler declined to comment, simply stating that mediation was ongoing. </ p> * ARTPRICE.COM expects a jump in sales this year with the launch of its online auction service, said Monday its CEO Thierry Ehrmann, in an interview with Reuters. </ p>
Democrats and Republicans are unable to agree on a plan to reduce U.S. debt, which has just reached 15,000 billion. The reasons and consequences of this blockage. The President of the United States Barack Obama
The debt crisis in Europe has almost been forgotten that the U.S. also face their great difficulties on their debt. European stock markets closed sharply lower on Thursday. Paris (-3.4%, below 2900 points), Frankfurt (-3.5%) and London (-2.6%) fell sharply in the wake of Wall Street lost more than 2% at the end of the afternoon. Democrats and Republicans should agree on a plan to save 1,200 billion over ten years to hold their huge debt. But after two months of negotiations, they were still far from an agreement a few hours from the end of negotiations scheduled for Monday evening.
Congress had in effect established a commission to decide on a plan to reduce debt. Composed of twelve members of Congress – six Republicans and six Democrats – the "super-committee" was intended to relieve an abysmal debt that comes to exceed 15,000 billion (you can see it evolve in real time on the www . usdebtclock.org). The six Democrats proposed a plan for 2900 includes 1,300 billion billion tax increase, the six Republicans on the other hand opted for a plan of 2,200 billion euros, with "only" 200 billion of tax increases. Without ever reaching a consensus.
Why the lock?
This blockage occurs less than a year of presidential elections scheduled for November 2012.
The Tokyo Stock Exchange ended slightly higher Friday, recovering from the fall of the day in favor of positions suggesting investors anticipate the possibility of a rebound despite the persistence of the debt crisis in Europe
The Nikkei gained 0.16% or 13.67 points to 8,514.47 while the Topix, larger yielded 1.17 points (-0.16%) to 729.13.
On the whole a week marked by a deepening debt crisis with the record level by the Italian sovereign bond yield, the two indices lost 3.3% and 3%.
Title Olympus finished down 4.96% to 460 yen after a volatile session.
The payment of a new tranche of eight billion euros to Greece was approved Friday by the finance ministers of the euro area, which, however, have found their remaining differences on the reform of the support fund euro and put their decisions on this issue later.
Meeting in Brussels, they also discussed at length the contours of the new rescue plan for Greece and the participation of banks capable of reducing the Greek debt to sustainable levels.
A report prepared by the "troika" – IMF, ECB and European Commission – representing the international donors, a 50% discount on Greek bonds held by private investors is necessary to reduce the debt to 120% of GDP against 162% today.
If it was intended to reduce debt below 110%, a discount of 60% would be necessary, the report says, as a basis for decisions of Heads of State and Government of the euro area summits on Sunday and Wednesday.
The outcome of these meetings, which should lead to a new Greek plan, a formula to maximize the funds to support the euro area and a wide recapitalization of banks on the continent, is considered crucial for the single currency.
"We decided to authorize the payment of the next tranche of financial assistance to Greece in the context of the current program of economic adjustment.The disbursements must be made in the first half of November, once approved by the International Monetary Fund, "said the finance ministers of the euro area in a statement.
Athens immediately welcomed the European decision, saying it was "a positive step."
The decision "provides the fiscal targets in 2012 and paves the way for necessary structural reforms," said Greek finance minister, Evangelos Venizelos, in a statement.
CONTINUATION OF DISCUSSION ON EFSF
According to several sources, the Europeans, however, remain largely divided on the level of the discount to be applied to Greek bonds as well as the voluntary and non-bank participation.
The German authorities, in particular Finance Minister Wolfgang Schäuble, insist that the envelope of 50 billion euros negotiated on July 21 is significantly revised upwards, if necessary by forcing banks to make an extra effort.
Paris is reluctant for fear of triggering a credit event with unpredictable consequences.
The ministers, however, only discussed the various options available to "maximize" the firepower of the EFSF, which also divides Paris and Berlin.
The Minister of Economy, Baroin said that France continued to believe that the conversion of cash in bank was the best solution but it did not make "one final point of confrontation."
"What counts is what works.And what works is what will go towards deterrence and effective firewall and it is around this that we try to work, "said the Minister after the meeting.
Granted a banking license in EFSF would allow access to funding from the European Central Bank to increase its capacity for action by a factor of up to five.
But Berlin rejects this possibility, which would be to accept that the institution of Frankfurt finance the countries of the euro area, one of the dogmas explicitly excluded by the European treaties.
The other members of the euro area are also divided, Belgium and Spain having voted for a reconciliation BCE-EFSF while Slovakia and Austria have indicated that this solution was not studied.
The countdown has started, however, for not only the peaks of Sunday and Wednesday but above the summit of Heads of State and Government of the G20 in Cannes in early November.
Thursday night, U.S. President Barack Obama spoke on the economic situation in Europe with his French counterpart Nicolas Sarkozy, German Chancellor Angela Merkel and British Prime Minister David Cameron.
Starts of new homes in France in late August were up 17.4% year on year to 389,449 units, but only 7.4% over the last three months, to 83,153, show statistics released Tuesday by the Ministry of Ecology, Sustainable Development, Transportation and Housing.
The number of building permits issued for housing shows a parallel increase of 10.5% over the last 12 months to 490,620 and an increase of 10.6% over June to August, to 133,169.
"Over the past twelve months, new construction, representing over 87% of homes, rose 9.8% over the previous twelve months," the ministry said in a statement.
In the non-residential housing starts were up 7.3% over the past year to 25.35 million square meters, and 26.2% for the three months to 6.18 million m2.
Building permits granted for industrial or commercial premises are up 7.2% over the last 12 months to 36.22 million m2, and 2.8% over three months to 8.95 million m2.
Creditors will return from Athens in the country next week for the débloclage loan of 8 billion euros, which would avoid the default. Visitors are Seen in front of the Temple of Poseidon at Cape Sounio, south of Athens, August 6, 2009. Many archaeological sites Throughout The country stayed open till the early hours DURING the August full moon night. (GREECE CITYSCAPE SOCIETY TRAVEL IMAGES OF THE DAY)
Heads of Mission of the troika of creditors will return to Athens, Greece "in early next week" to complete talks for the release of the next tranche of loans to the country, said Tuesday the Department of Finance at the end a teleconference between representatives and the Minister.This conference gave rise "to a satisfactory progress" in negotiations, said a ministry statement, stating that the minister, Evangelos Venizelos, will also continue its discussions with donors in the country "this weekend in Washington at the annual meeting of the IMF. "
These negotiations are intended to avoid a default on Greece in need of loan from the euro area and the International Monetary Fund to cover its financing needs from the end of October. In Brussels, the European Commission made from advanced, indicating that negotiations were possible to find common ground and confirming the return of the troika. During the conference, following a first round Monday, "Good progress has been made," the Commission ruled in a statement.Technical discussions will continue over the next few days in Athens, she added, as also the statement of the Greek Ministry.
Of these negotiations depends on the payment in October – vital for Greece – the sixth round of eight billion euros of the loan in May 2010 in the euro area country and the IMF. A source of the Greek Ministry of Finance, negotiations Tuesday were to endorse the measures agreed between Greece and its creditors to achieve the planned budget savings and accelerate structural reforms that Athens has promised to perform in exchange for his rescue bankruptcy.
The European Commission has not confirmed this information and did not provide details in a statement. The department has for its part not mentioned in either agreement.A cabinet was nevertheless restricted announced Wednesday morning that the Greek media are waiting for a green light to launch the measures agreed with creditors, centered on the compression of the public sector.
Air France-KLM announced Wednesday an increase in passenger traffic of 7.6% in August, together with a load factor up 1.2 point to 85.7%.
The second European airline in terms of sales said in a statement it had carried 6.8 million passengers last month, with revenue per available seat kilometer (RASK) excluding currency "slightly down" from August 2010.
Traffic recorded an increase of 10.7% in the Americas network and 9.0% on the Asia network, for load factors in respective increases of 1.3 points to 89.6% and 1.4 points to 89.4%.
The Caribbean and Indian Ocean network recorded a traffic increase of 10.0% with capacity up 7.1%, while Africa and the Middle East are still affected by political crises and have a stable traffic ( -0.1%) on capacity down 0.5%.
In freight, cargo traffic is also almost stable (-0.2%) with capacity up 2.8%, bringing a decline of 1.9 points in load factor to 62.5% while unit revenue per tonne kilometer (RATK) excluding currency is "up slightly".
Action Air France-KLM on Tuesday completed a course of 5.993 euros, showing a dip of 56% since the beginning of the year.
