The likely thrust of extremist parties in Greece, which could jeopardize the plan of assistance given to countries, markets further alarm that victory in the presidential election of Francois Hollande. Its program in effect no longer perceived as a threat to investors. Unlike 1981, the arrival of the socialist candidate for the Elysee should however not destabilize markets, which first opened in Asia in mid-European night.
The likely thrust of extremist parties in Greece, which could jeopardize the plan of assistance given to countries, markets further alarm that victory in the presidential election of Francois Hollande, whose program is no longer perceived as a threat by investors . "The week promises to be high risk, but paradoxically Greece weigh maybe more in the balance as the French election," said Valerie Plagnol, director of research at Credit Suisse.
Unlike 1981, the arrival of the socialist candidate for the Elysee should however not destabilize markets, which first opened in Asia in mid-European night. The Paris Bourse certainly gives ground for several weeks, but this trend is common to all European financial centers, plagued by fears about the economy of the eurozone. And the cost of refinancing the public debt of France has not increased more between the two rounds of presidential elections.
No challenge to the Treaty on the financial stability
Paris has borrowed Thursday nearly 7.5 billion euros at rates down. "Mr. Holland should not undermine the Treaty on European financial stability, but rather add to it a component of growth. On this point, it is not alone in wishing that in Europe, which tends to reassure "said Ms. Plagnol.
Long reluctant, Berlin is ready to work to "a growth pact for more competitiveness," the German Foreign Minister Guido Westerwelle. President of the European Central Bank, Mario Draghi, would also give this theme "at the center of the agenda" European. Mr. Holland on Sunday evening could have an exchange on these topics with German Chancellor Angela Merkel, according to one of his advisers.
If revenues diverge, more tracks are already being considered: increase the borrowing capacity of the European Investment Bank (EIB), spend more European structural funds in the euro area, establish 'project bonds', the European bonds for a specific project, or authorize the European Stability Mechanism (MES) to help a struggling industry and not just a state.
For Laurence Boone, chief economist for Europe U.S. investment bank Merrill Lynch, BofA, the alternation in France does not worry because "investors expect to conduct a moderate social policy".
Greece in the heart of concerns with the rise of extremist parties
Greece, whose people voted on Sunday for early elections, however crystallizes much more concern. Both sides pro-austerity, PASOK (Socialist) and New Democracy (right), who ruled together in a coalition since November 2011 collapsed in parliamentary elections Sunday, bringing together between 31 and 37% against more 77% in 2009, according to exit polls.
If they were confirmed, this collapse would make almost impossible the formation of a coalition government by both parties to continue the austerity dictated by the European Union and the International Monetary Fund. "The country's creditors (IMF, EU and ECB) may at least temporarily suspend their aid," worries Stephane Deo at UBS. "The government can more quickly pay its civil servants and pensions, which will lead to very high tensions on financial markets," he warns.
In >>> Direct: Soon the results of the second round of the presidential election between Sarkozy and Holland
In many cases, individuals will apply for an online advance in order to avoid a blemish in their credit history. As in the case of any other loans, while applying for
instant payday loans it is important to contemplate all the viable options that are available to you.
If he departed from Areva, it's because she was unable to work with EDF, said President candidate. It also ensures that the government never considered selling a nuclear power plant in Gaddafi's Libya. Lauvergeon and Nicolas Sarkozy in New Delhi, December 6, 2010.
New episode of the clash between remote Nicolas Sarkozy and Anne Lauvergeon. Incumbent President said Tuesday that it had terminated the functions of Anne Lauvergeon at the head of Areva because she was "unable to work in harmony with EDF". "Ms. Lauvergeon, we asked him to leave his post for some reason is very simple, was that she was unable to work in harmony with EDF, "he said on France Inter.
Asked about its incompatibility with the current CEO of EDF Proglio, considered close to Nicolas Sarkozy, the head of state assured that "with the previous (Gadonneix, ed), it was exactly the same thing ". Ms. Lauvergeon "did everything to remain as head of Areva," she "came to me countless times," he insisted, "if it had been in disagreement with the policy as I was driving to the nuclear, one wonders why she wanted to stay. "
"This is someone I respect, I kept at the head of Areva that I had even known (…) we can not say that he mistreated her," continued the President UMP candidate and confirming that he was offered a post in his government. "See Ms. Lauvergeon now explain how she suffered with me, when she was a president of Areva who wanted to stay, who wished by all means remain president of Areva, all these people who, once that they left their posts, say 'my God as we suffered when + they wanted to stay, it's pretty outrageous, "he – he concluded.
In an interview last week in the weekly L'Express and a book, Ms. Lauvergeon, old Sherpa of François Mitterrand, ousted in 2011 by the Government of the head of champion French nuclear company, denounced the methods of the CEO of EDF Proglio, reveals some of his conversations with Nicolas Sarkozy, accusing the government for consideration until 2010 to sell a nuclear reactor to Libya's Colonel Gaddafi. Again, Nicolas Sarkozy denies.
"I have not consorted with Gaddafi"
"There was never a central issue to sell to Mr. Gaddafi and let me tell you that if there is a head of state who in the world, has not paved with Gaddafi and is responsible for his departure and what happened to him, I think maybe it's me, "Sarkozy said in response to a question from a listener on France Inter. When visiting the controversial Colonel Muammar Gaddafi in Paris in December 2007, the Head of State announced to reporters, after an initial interview with the Libyan leader that France had signed the signature of "tens of billions" of euros of contracts with Libya …… These agreements
…, he cited "collaboration contracts for desalination of seawater with a nuclear reactor for armaments cooperation, different economic contracts ". Lauvergeon accused the government of having planned until 2010 to sell the nuclear reactor. "This is a blatant lie (…) it has never been involved," insisted Tuesday Nicolas Sarkozy, "I remind you that if Benghazi was saved and if Gaddafi is gone, it is because that France intervened. " "There is still a logic. We can obviously angry with me for a whole bunch of things but we can not blame me for the inconsistency. In Libya it is France that led the operation, it is France with the UK, "he said.
"So, between those who say that Gaddafi paid my campaign, the other we wanted to offer a nuclear power plant, do you really think I would have done this if it was all true?" concluded the incumbent president and candidate of the UMP. The information website Mediapart published in March a note suggesting that the former Libyan leader Muammar Gaddafi has funded a 50 million euros the 2007 campaign of Nicolas Sarkozy. The President had called the accusations "ridiculous".
When moving to Tripoli in July 2007 Nicolas Sarkozy, France and Libya signed a memorandum of agreement on civil nuclear aim of which was, according to the secretary general of the Elysee Claude Gueant of the time, "to provide to Libya a nuclear reactor that allows the provision of drinking water "in seawater déssalinisant This agreement was widely criticized, especially from France's partners such as Germany, and left in environmentalists who saw a proliferation risk. Some had even suspected this Agreement to be consideration for the release of Bulgarian nurses held in Libya, which the Elysée has always denied.
The CAC 40 closed sharply lower, 2.47%, amid concerns about the situation in Spain and Italy, while the slowdown in Chinese growth is stronger than expected. Traders at the Frankfurt Stock Exchange.
The Paris Stock Exchange closed sharply lower Friday amid concerns persist about the situation in Spain and Italy, and while the slowdown in Chinese growth is stronger than expected. The CAC 40 gave 2.47%, passing under the 3200 points to 3189.09 points, in a trade volume of 3.697 billion euros.
On other European markets, Frankfurt fell 2.36% and 1.03% of London. The Eurostoxx 50 index lost 2.58% on its side. "We broke a very important technical level, that of 3200 points, this does not bode well. We will start next week in very bad disposition, "warned Frederic Rozier, manager of equities at Messchaert Private Banking Growth Slows
.
The Chinese trend has been sealed, early interactions, confirmed by the slowing of Chinese growth, which reached its lowest level in almost three years (+8.1% yoy in the first quarter). "Investors not expect a downturn as fast. It should be remembered that any slowdown in China has a strong impact on the global economy, "said Mr. Rozier. However, for Renaud Murail at Barclays Bourse," it is almost certain that stakeholders would not reacted so negatively to this statistic a few weeks ago. Currently, less bad news is amplified. "
The climate has been sealed by the blood of net borrowing rate of Italy and Spain in the bond market, yields on 10 year Spanish flirting again with 6%. Rome suffered a further decline in industrial production in February, while economists were betting on a rise, while the debt of Spanish banks to the ECB in March smashed the record already history for the previous month. "This suggests two disturbing elements: access not only of the Spanish market remains difficult, but they still have a strong need for short-term liquidity," said Alexandre Baradez at Saxo Bank.
The bank attacked very
The banking sector in the fourth largest economy in the euro area of particular concern for investors because it is very exposed to the real estate market in the doldrums in the country. In this context, anxiety, low morale of U.S. households has compounded the disappointment of stakeholders.
As for values, the banking sector has been particularly attacked, Societe Generale yielding 5.79% to 17.80 euros, BNP Paribas 5.22% to 30.40 euros and Credit Agricole 5.08% to 3.91 euros. More cyclical stocks have suffered heavily from the slowdown in China, the image of Peugeot (-5.15% to 9.84 euros), Lafarge (-4.94% to 30.88 euros) or Vinci (-4 , 21% to 34.83 euros). L'Oreal was the only value of the CAC 40 close to achieving in the green (1.15% to 92.14 euros) after the beginning of 2012 found "promising" with sales up sharply in the first quarter.
Capgemini (-5.12% to 29.92 euros) suffered from lower sales forecasts for 2012-2013 the number two Indian IT Infosys Technologies. Atos took to 2.31% to 44.37 euros, while a note from Morgan Stanley suggests the establishment of "strategic options" for the group if the title is still low. Stallergenes has granted 3.34% to 42.66 euros after confirming its annual growth target following an increase of 7% of its turnover for the first quarter. Finally, Gold by Gold unscrewed from 6.01% to 6.72 euros in its first day of trading on Euronext Paris.
The Tokyo Stock Exchange ended almost unchanged Monday after slight correction suffered last week, investors focusing on actions related to metals and blue chips that have underperformed ; the market lately.
The Nikkei gained 0.07% or 6.77 points, to 10,018.24. In contrast, the Topix broader, yielded 0.71 points (-0.08%) to 851.82.
This evolution of the Nikkei, helped by the decline of the yen against the dollar, was recorded in a few exchanges expanded.
"Even if the Nikkei falls below 10,000 points, Japanese institutional investors are not going to take profits because they have more net sellers in the rally (in recent months)," said Kenichi Hirano , a director at Tachibana Securities.
Technical analysts believe that the decline of last week could lead investors who missed the bull cycle in action since the beginning of the year to enter the market.
The Tokyo Stock Exchange was down 1.1% Friday, accusing its largest percentage decline in two months. But it is still up over 18% since the beginning of the year.
While global stock markets fell Tuesday for fear of failing the Greek debt restructuring, the European Commissioner for Economic and Financial ensures that the operation "should proceed smoothly."
Stop the panic that gripped markets. Two days before the deadline given to private creditors of Greece to accept or not the deletion of part of the country's debt, the European Commissioner for Economic and Financial Affairs, Ollie Rehn, steps into the breach. In an interview with Le Figaro, he argues that the operation "should proceed smoothly." And adds: "From the information we collect, the debt swap should take place smoothly, as the transaction is financially attractive to the private sector"
The Finnish Commissioner was asked about whether the fact that the dreaded "credit default swaps" (CDS), these insurance contracts on default of payment to be triggered if the debt exchange operation went wrong. "It is not our preferred scenario. Instead," said Rehn, while anxiety has spread in the markets Tuesday.
European shares ended the session sharply down and banking stocks were particularly hard hit, indicating investors fears of a default of Greece as we approach the result of the restructuring of its indebtedness imposing. The rate of participation of private creditors should be at least 75% for Greece to erase part of its debt (107 of the 200 billion held by private creditors) and receive the second aid package of 130 billion approved last week in Brussels.
About a third aid plan, referred to by the German weekly Der Spiegel Sunday, "this is a hypothesis that has been circulating among Cassandra, I am not …", Rehn sweeps. "Let's focus instead on the implementation of the second rescue plan, which provides a unique erase debt," he told the BBC.
The Commissioner also stated "that the risk of explosion (the eurozone) is behind us." But "the recession is here, and unemployment is worrying," he says. "We are at a critical time in which member states must keep their budget commitments, to make the necessary structural reforms, while strengthening the firewall to anti-crisis 750 billion euros in Europe," Rehn recommends.
Coface, which last year refocused its activities on credit insurance, reiterated Tuesday his intention to return when the stock market but market conditions have improved.
Jean-Marc Pillu, the CEO of a subsidiary of Natixis, declined to say how soon the Coface, deregistration in 2002, envisioned a new IPO nor how much capital will be offered to investors.
"The track is always the same, this is the IPO as soon as conditions permit," he said at a news conference.
"The internal conditions are met to be placed on the market," he added. "After the second condition, it is the markets (financial, Ed). We will wait quietly, serenely they allow us to do this. "
Asked about refocusing on the Coface credit insurance ; said, he explained that the company had isolated a structure apart and owned by its parent non-core businesses it intends to transfer …
…… "These activities were in a separate structure, as Natixis, well insulated (…) but remain under the responsibility of the Directorate General of Coface at the operational level, "said Jean-Marc Pillu.
He also said that except for the German and Polish markets, factoring activities were managed for their extinction ("run off"), that is to say, they are intended to be phased out.
Due to the reorganization of its business, Coface has subsequently passed in its 2011 accounts for 49 million euros in restructuring charges after taxes.
Its CEO also said the company had raised 1.1 billion euros of financing for factoring after signing a contract with four banks of securitization.
"We are most indebted of all, we paid all our debts in the long run. I speak of parent company debt, "said Jean-Marc Pillu
. Returning to the proposed creation of a rating agency Europé ; enemies, envisaged a time before finally being abandoned in early 2011, the CEO of Coface said that the business of insurance credit scoring and no pre ; felt no synergies between them
. "It's not all the same job," he insisted .. …….
The Indian airline Kingfisher Airlines Tuesday seemed about to collapse under the weight of its debts, flight cancellations are being multiplied for almost a week and the resignation of Drivers accumulating tens.
Vijay Mallya, the liquor magnate who controls the airline and gave the same name as his famous brand of Indian beer, said he was determined to save Kingfisher, blaming its financial difficulties with the freezing of bank accounts by the tax.
There is in India no legal requirement for companies to declare bankruptcy. Kingfisher, an Airbus customer, so could the curtain down overnight due to lack of funding, warn analysts.
"If they can not find fresh capital, of course, they are condemned. They have the money or for maintenance or for wages or for anything else, "he told Reuters Lillaney Sharan, an analyst specializing in aviation for Angel Broking. The action
Kingfisher has plunged nearly 20% Tuesday, the day the company was called by management of Indian Civil Aviation to explain the cancellation of more than 100 of its flights during the four days
. At the end of the meeting, the Indian regulator said he had obtained guarantees of Kingfisher on bank financing and the action has erased all its losses
……. .. Kingfisher, which last year was still the second Indian airline, has reached any profits since its inception in 2005, suffering from the flew e fuel prices and fierce competition from low-cost airlines.
Indian market yet fast-growing, nearly 20% in 2011, the turnover of Kingfisher declined since late 2011.
The group acknowledges a debt of $ 1.3 billion (984 million), and lack of liquidity, it no longer pays the salaries of its employees and accumulates unpaid tax, adding, according Kotak Institutional Equities, $ 477 million in debt.
The action Kingfisher plunged nearly 60% since January 2011, melting the market value of the group at $ 269 million.
News reports bring to 300 the number of pilots who have resigned since last September. The Mint newspaper said, citing a government official, also reports that Kingfisher will return two Airbus A320 to companies leasing aircraft because of defaults.
According to the latest data from Airbus orders over Kingfisher deal 32 single-aisle A320 family aircraft, 20 A330s, five long-haul A350 and five A380 super-jumbo.
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.
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>
The Industry Minister Eric Besson confirmed Wednesday that the price of gas and electricity for individuals would be maintained until the presidential election, despite requests from EDF and GDF Suez.
The Minister of Industry and Energy Eric Besson confirmed Wednesday that the price of gas and electricity for individuals would be maintained until the presidential election, despite the attacks to justice and GDF Suez of other gas suppliers. Asked about RMC and BFM TV about the continued freeze gas prices to presidential, Mr Besson said: "Yes. The Prime Minister made this decision and he made it clear to the national representation . (…) In any case for individuals. "
"We have a simple thesis is that the increases should be extremely limited so as not to influence the purchasing power," he noted, without being able to specify whether this also applied to the gel subscription. For electricity, Mr. Besson is back in a statement to AFP on the remarks made earlier on the air. "It will increase slightly, probably," he said on BFM TV and RMC. "I do not know (when) we will discuss this with EDF."
Asked by AFP, the Office of the Minister of Energy said: "Eric Besson reaffirms that in accordance with the arbitration of the Prime Minister, electricity rates applicable to individuals are frozen until 1 July 2012, and no decision is expected to increase. "
