The price of a liter of unleaded 95 euro climbed to 1.5640, while that of 98 unleaded rose to 1.6022 euro. This surge is due to tensions in Iran and the decline of the euro.
The price of gasoline at the pump hit new highs Friday in France, according to data released Tuesday by the Ministry of Sustainable Development, those of diesel playing in contrast to the decline. The price of a liter of unleaded 95 euro climbed to 1.5640, while that of unleaded 98 (whose sales are much lower in SP95) rose to 1.6022 euro, surpassing both levels records they had met in January, according to figures compiled by the Directorate General for Energy and Climate (EDCM).
However, diesel is still trending down, to 1.3960 euro per liter last week against a peak of 1.4240 in mid-January, and well below its spring 2008 record (1.4541 euro ). These are national averages calculated by the DGEC from data provided by service stations.
This surge is linked to two phenomena, geopolitical tensions (Iran, Nigeria …) that keep crude oil prices at very high levels, and weakening of the euro against the dollar, which increases the cost of black gold imported into France, once its price converted into the single currency. Diesel sales represent about 80% of French consumption of motor fuels, the unleaded 95 just under 15% and unleaded approximately 98% 5.
The French car market fell by 20.7% in January, falling to its lowest level for 14 years, the disappearance of the last scrappage sluggish economy and the sign for the sector a difficult first half. According to figures released Wednesday by the Committee of French Automobile Manufacturers (CCFA), registrations in the Hexagon emerged last month at 147,143 units, almost 39,000 less that 'in January 2011. "This is a lowest since 1998. The bad controls are not in December registrations in January (…) The first half would be difficult," said Francois Roudier Wednesday , spokesman for the CCFA. Sales of light trucks fared better, but nevertheless signed the first decline for several months with a 2.5% decline in gross (-7% on CJO) to ; 32,707 units. "This is one more indicator of the economic context, an additional amber light came on," said Flavien Neuvy, Director of the Cetelem of the car. "The trend is bad for sales to individuals, but the climate gradient will also weigh on sales to companies," he added. Around 24:30, the values are still car oriented upward, catching up after several sessions of declines. The European index sector is 2.6%, 2.1% Volkswagen, PSA and Renault 2.9% 3.4%. VERY GOOD MONTH FOR VOLKSWAGEN AND NISSAN The CCFA said that the builders who have benefited from the scrappage scheme have had their registrations plummeted. In addition, the prospect of the release of new models during the years attracted the attention of future customers, it adds. Car sales of PSA Peugeot Citroen last month fell 27.4%, while those of the Renault group tumbled 32.7% (-36.9% for the diamond brand and -10.5% for the low cost brand Dacia). In a statement, Renault blamed the decline in the ongoing renewal of its range, including the arrival of the Clio 4 in the fall. The Group nevertheless confirmed its target of a French market share close to 26.1% in 2011. Next PSA, Peugeot has also continued to be affected by pending the arrival of the 208, scheduled for spring. Other general, the Fiat brand saw its sales in France dropped by 40.9%. In contrast, German Volkswagen still has shot out of the game: Group registrations increased by 18.2%, and the only VW to 26.8% with a wide offensive in terms of products and prices. Nissan's partner Renault, meanwhile saw its sales under its own brand to increase by 19%, which allowed him to exceed the month Opel (GM group) by volume. Sign that sales may remain low for at least several months, PSA Peugeot Citroen announced Tuesday that production would be stopped a week at Mulhouse and Sochaux early March to "adapt the stocks at the request commercial ". Both sites, however, produce some best-sellers like the Peugeot 308 and 3008 and the Citroën C4 and DS4. PSA and Renault have said in recent weeks to expect a difficult environment in 2012. They expect a decline of at least 3% of the European market this year and down 5 to 8% of the French market.
The Swiss government said Wednesday it has chosen to renew its fighter fleet with 22 copies of the Saab Gripen of Sweden, preferred to Dassault Aviation's Rafale and the Eurofighter consortium which includes the European EADS.
Switzerland was launched three years ago the tender for the renewal of its fleet, now consisting of F-5E / F Tiger built by the American Northrop, whose older copies have been flying since 1976.
She originally planned to order up to 33 devices.
The President of the European Central Bank (ECB) Mario Draghi said that the primary purpose of the institution is price stability. He refuses to do more to assist States in the euro area, noting that the "credibility" of the ECB is at stake The Governor of the Bank of Italy, Mario Draghi, should succeed Jean-Claude Trichet as President of the European Central Bank.
The President of the European Central Bank (ECB) Mario Draghi Friday defended the independence of the institution subject to strong pressure to intervene financially better deal with the debt crisis, stressing that it was his "credibility" was at stake . "Our credibility implies the success of our monetary policy (consisting of) anchor the inflation outlook in the medium and long term (…) to sustain growth, job creation and financial stability.
Former European Commissioner Mario Monti was the favorite Thursday to succeed Silvio Berlusconi as head of the Italian government and try to counter the surge in borrowing costs in the country, another who briefly relieved the European stock exchanges.
The Economist, 68, former European Commissioner and now president of Bocconi University in Milan, is seen for weeks by the markets as the best candidate to lead a government of national unity and implementation of emergency austerity measures needed to redress the accounts of the country.The Paris Bourse was almost in equilibrium, Frankfurt advanced 0.5% and London gave up 0.45%.
Discussions in the PDL
Italian President Giorgio Napolitano has appointed Mario Monti senator for life Wednesday. Investors saw this as a sign that he would ask him to try to form a government from the start of Silvio Berlusconi, expected in the coming days.
And as the cost of borrowing to ten years in Italy continue to grow beyond 7%, a level deemed unsustainable by many, the assumption of a unity government seems to be gaining ground in the PDL.
"The LDP can not simply follow the call to the polls that emanates from the core," said Foreign Minister Franco Frattini in an interview with Corriere della Sera.
Faurecia announced Friday the successful refinancing for a $ 1.5 billion, the group has launched Monday.
These operations include a bond due in December 2016, for $ 350 million with a coupon of 9.375%, said the automotive supplier in a statement.
The refinancing of Faurecia also involves a new syndicated loan of 1,150 million, consisting of two bands A (690 million euros) and B (460 million), respectively of maturity in November 2014 and November 2016.
These two operations will allow us to prepay a loan of 250 million euros made by Peugeot in conjunction with the refinancing of the existing syndicated bank also said Faurecia.
Newly appointed head of the IMF, Christine Lagarde Nicolas Sarkozy will meet Saturday to prepare for the G20 summit in Cannes. Christine Lagarde REUTERS / Benoit Tessier (FRANCE – Tags: POLITICS)
Nicolas Sarkozy Saturday at noon will receive the Executive Director of the IMF Christine Lagarde to talk about it with "the preparation of the Cannes summit of the G20 and the situation in the euro area," the Elysee Palace said Friday.
The head of the French state will fly the next day to Berlin for talks with German Chancellor Angela Merkel poour attempt to speed up the rescue plan of the single currency.
Leaders from the eurozone continue intensive negotiations for a recapitalization of banks in the EU to address the risks of contagion from the debt crisis.
Germany has given the green light last week in the expansion of the European Financial Stability Fund (EFSF), which is waiting for the ratification of Slovakia.
Air Liquide finds no significant decrease in demand of its customers and believes that the market environment for the group was relatively normal, except for some adjustments in the electronics, said Tuesday its CEO Benoît Potier.
"We do not see a significant drop in consumption by our customers.At this point we can say that the economy remains strong for Air Liquide, "said the boss of the world's largest industrial gases reporters.
He was speaking on the sidelines of the presentation of tests of electric vehicles to hydrogen at the Circuit de Marcoussis (Essonne).
"The environment was relatively normal, so the consumption of our customers large and small ways consistent with what we had until now," said Benoît Potier, whose group has clients in sectors as diverse as Health, refining and steel.
Air Liquide was confirmed in early August target steady growth in net profit in 2011 "in a normal environment."
Asked if he confirmed the group's objectives in 2011, Benoît Potier declined to comment, a few weeks before the publication of revenue for the third quarter scheduled Oct. 26.
The strategic plan "Alma 2015", introduced in December 2010, is an average annual growth of 8% to 10% of sales – compared to 9.2% as reported in the first half of 2011 – and a sustained increase of Net income in the past five years.
The share was down 1.18% to 85.66 euros by 24:50, outperforming the market, down 2.7%.
Values to follow on Friday at the Paris Bourse.
* AXA. Offers for Axa Privaty Equity, private equity branch of the insurance group, must be filed by early next week, the Financial Times and The Tribune.
The Strategic Investment Fund (ISF) said Thursday he would not consider an acquisition of Axa Private Equity.
* DEXIA. Belgian finance ministers and French planned to meet Monday to discuss the future of Dexia, a bank in the center of intense negotiations on a possible restructuring, write Friday Les Echos. No one was immediately available at Bercy or the Belgian Ministry of Finance to comment on this article.
* SOCIETE GENERALE.UBS lowered its recommendation to buy from neutral and cut its price target to 21 euros against 35 euros.
* SOITEC sought to reassure the market on sales growth plates in the first half of 2011-2012, two days after a warning from Advanced Micro Devices, its main customer, on their own perspectives.
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.
