The Paris Bourse was raised a notch to 16 heyres. Already the CAC 40 took more than 2% since this morning, but the ISM index of manufacturing activity, released on Monday across the Atlantic in 16 hours (Paris time) gave a boost to U.S. indices, as best expected. European stock markets all benefit.

In Paris the CAC 40 wins no less than 2.96% at 3,750 points to 16.20. The month of August begins very well, after one month of July already favorable to investors in Paris.

Last month, the CAC 40 was well recovered, compared to a decline in June and a memorable month of May in terms of poor performance. Between 1 July and this July 30, the index rose 9.1%. Since the beginning of the year, it remains a decline of 7.45%. Compared to a year ago, it was up 6.3%.

On the face of macroeconomic indicators, two publications are important to remember.In Europe, growth in manufacturing output and new orders accelerated, reaching their highest level in three months, according to the latest PMI survey released Monday and conducted by Markit Economics Institute. The PMI index for manufacturing final Eurozone appears already to 56.7 in July against 55.6 in June

On the other side of the Atlantic, the ISM has continued to grow, but less than before. The increase in activity in the manufacturing sector in the United States has continued to slow in July, the index measuring the ISM has fallen to 55.5, but less than expected, according to figures released Monday by the association .

On the values front, are monitored:

BNP Paribas (4.59%) which unveiled on Monday its quarterly results before the market in good order. They are far beyond expectations, thanks to lower provisions.The title gained 4.19% to 54.92 euros. The title brings in its wake Societe Generale (2.97%). For its part, Credit Agricole gained 2.33% to 10.75 euros.

Air Liquide (1.29% to 87.48 euros) on Monday confirmed its objective of increasing its net profit in 2010 after an acceleration of growth in sales between the first and second quarter, thanks emerging markets.

France Telecom (1.09% to 16.24 euros) has initiated discussions with shareholders Meditel second operator in Morocco, to acquire 40% stake in it, according to the Moroccan weekly News, suggesting a possible investment of 650 million euros. Title varies slightly to 16.05 euros.

Eurazeo announced Saturday that entered into exclusive negotiations with the U.S. fund Carlyle for the sale of the hotel chain B & B.Eurazeo gaining 1.74% to 49.73 euros.

The construction group Vinci (2.44% to 38.05 euros) was selected Friday by the Government for the concession and the construction of the airport at Notre-Dame-des-Landes, who should take over from 2017 the air service from Nantes-Atlantique.

Areva (-2.96% to 354 euros) on Friday, as expected, half results penalized by an additional provision under the Finnish EPR OL3, but confirmed its 2010 targets.

Eiffage (2.21% to 39.57 euros) published a quarterly revenue up 2.2% and said its order book stood at EUR 10.8 billion at July 1 ( +4.4% at constant since 1 April 2010), more than 11 months of activity.

APRR (stable) – The Socialist leader Arnaud Montebourg said it had seized the financial markets authority (AMF) to try and block the delisting of Autoroutes Paris Rhin Rhone (APRR) requested by Eiffarie, a joint venture of Eiffage and the Australian Macquarie Group

A person can access the Internet for life insurance rates or can directly communicate with companies that offer appropriate policies.

The Paris Bourse ended the session on Monday in the green: +0.8% to 3635.86 points after having doubted almost the entire session. The CAC 40 was indeed long hesitation on the way forward following the release Friday of "stress tests" conducted on 91 European banks and published Friday after the stock market. Only seven institutions have failed, which means a respectable success rate of 92%. However, 17 banks post notes just averages. What a cool little enthusiasm.

Finally, Paris has chosen the rise. Like Wall Street, Friday, which had been optimistic, although Asian markets were more hesitant.

No macroeconomic indicator was expected in Europe.But the United States, sales of new houses in the U.S. rebounded more than expected in June, from 23.6% in May after hitting their lowest level since 1963 at least, but still extremely low, according to official figures released Monday in Washington. The news bolstered Wall Street upwards.

As for currencies, the euro climbed slightly against the dollar: + 0.53% to 1.2980 dollar.

Featured Banks

Who says interpretation of "stress tests", said reaction of the banking sector. At the Paris Bourse, the French banks took off and pulled the score up: +7.75% Dexia, 5.24% for Societe Generale, 3.12% for Credit Agricole, 2.37% for BNP Paribas and 1.91% for Axa.For the Minister of Economy Christine Lagarde, have no fear: French banks have succeeded in "this difficult test with flying colors, with honors.

The car values have also boosted the index: 1.65% for Peugeot, 1.58% and 1.28% for Michelin for Renault.

In red lantern ACC, a troucve STMicroelectronics: 2.34% to 6.34 euros.

Sanofi-Aventis lowered its earnings forecast for 2010

Sanofi Aventis (+0.16% to € 45.58) announced Friday that the first generic version of the anticoagulant Lovenox has been approved by the Food and Drug Administration (FDA). The supply of the generic, marketed by Sandoz in association with the American company Momenta began in the wake of the approval by the FDA.The news had tumbled 4.25% securities at the close Friday because the Lovenox was the second top-selling drug from Sanofi last year. In a statement, Sanofi-Aventis recalls his "reservations" about the approval by the FDA in regard to "patient safety".

The pharmaceutical group revises accordingly its earnings forecast downward, with "an evolution of the EPS of activities for 2010 of between 0% and -4% compared to 2009 at constant exchange rates. A turnaround from last April when Sanofi evoked a growth in earnings per share from between 2% and 5%.In addition, Sanofi would have views of the U.S. biotech Genzyme after the Wall Street Journal.

Fimalac (0.95% to 31.29 euros) on Friday issued after the market closes up its turnover by 6.9% to 443.2 million euros in the first nine months of its 2009-2010 ended September 30.

April Group (1.73%) and Faiveley (-0.29%) publish their turnover in the first half after the stock market. Icade (1.84%) and Klépierre (+0.6%) at the same time unveil their interim results.

Saffron is still on track, despite the rejection by the supervisory board of Zodiac's merger offer sent July 6. "We stand by our proposal. It is the shareholders to decide Zodiac. We were very surprised that the leaders of Zodiac reject our proposal without seeking to fathom, "says Jean-Pierre Cojan, Deputy Director General of Safran, head of strategy and development.

The group led by Jean-Paul Herteman no plans to launch a takeover bid (OPA) hostile Zodiac. "I'm not sure that the interests of our shareholders would be served by something other than what we propose, namely to gather around the table. We have no idea at this stage other than to repeat the proposal that was made there about ten days, "says Ross McInness, Chief Financial Officer of Safran.In the letter received by Didier Domange, chairman of the supervisory board of Zodiac, Jean-Paul Herteman, CEO of Safran, simply wrote that he proposed an exchange of securities and cash to the shareholders of the Zodiac. But he has not made any proposal encrypted. Saffron has a market capitalization of about 9 billion euros. The Zodiac is 2.4 billion.

For the moment, everybody sticks to his guns. The leaders disagree on everything. Zarrouati Olivier, CEO of Zodiac, ensures that the merger would have only "limited synergies" from the industrial and it would not "create value for shareholders of Zodiac.

The state voted for

Saffron, which produces both engines as landing systems, but rather emphasizes the importance of synergies."This merger, which we have thought for some time, makes sense for several reasons, technological and industrial pay day loan lenders. The major clients such as Airbus and Boeing want to work with a limited number of suppliers. The consolidations that have occurred recently demonstrated. There are also synergies in terms of after-sales services. Bringing after-sales services of both companies would share their infrastructure, "says Jean-Pierre Cojan.

Olivier Zarrouati observes that marriage between a heritage whose key shareholders are families Domange Marechal and Gerondeau and the ISP (about 5%), and Saffron which the state holds 30%, is doomed to failure."Safran has not demonstrated in the past its ability to integrate different corporate cultures," he says in an interview with Voices. "Saffron, which is a company that makes money, has demonstrated in the past how much he knew of successful mergers and acquisitions," argues Jean-Pierre Cojan. Saffron has certainly been significant difficulties for the successful merger decided in May 2005 between the public group Snecma and Sagem private enterprise. But he has found new life since the appointment of Jean-Paul Hertelman in September 2007 at the helm. And in a sector as sensitive as aeronautics, its acquisition strategy is approved by the State. When the supervisory board has agreed unanimously to a merger with Zodiac, the representatives of the state voted for.And while interest in the Zodiac, the group remains on the lookout for other acquisitions.

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No change in the short term. But the door remains ajar for two more months. Nicolas Sarkozy held a meeting this FRIDAY on pension reform in the presence of several ministers: Baroin (Budget), Georges Tron (Public Service) and Eric Woerth (Labour). Following this meeting, the President of the Republic has decided to send as is the bill (see the text in its entirety) to the Councils for review. No editing for now, is therefore proposed for this text which provides a gradual increase in the age of retirement until age 62 in 2018.

However, the executive says ready to developments on three issues dear to the CFDT: the situation of people who started working before age 18, taking into account the hardship and treatment of poly-pensioners (of persons covered by several pension plans).The special case of poly-pensioners had hitherto not been mentioned in the text of the reform presented Wednesday.

Nicolas Sarkozy has asked Eric Woerth offer him "at the latest before the start of parliamentary debate in September, possible developments on these topics.

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The Sony Ericsson Yendo

The sixteen capitals of the euro will, on Monday at the Eurogroup, the finishing touches to 'ease' of 750 billion euros, which must guarantee the eventual bailout of states at the edge of bankruptcy, according to sources placed at heart of the discussion. Germany finally helped a lot by going beyond the limits imposed it seemed, an EU official confirmed Friday: "Everything will be operational within a few weeks."

The actual launch of the European Facility for Financial Stability (FESF) could bolster the euro and calm the markets, hitherto little comfort from the start of construction decided in an emergency on May 10 last. The issues of risk sharing and security ultimately raised by the Merkel government, have long hindered the development. But it was Berlin came the answer.The debate could end Monday with the appointment of the Chairman of the facility, on the occasion of the Eurogroup in Luxembourg.

The FESF, intergovernmental organization and incorporated in Luxembourg, will have a board with decision unanimously. This leaves a veto in Berlin and other capital of the euro. In theory, the decision to help a country asphyxiated as well as the amount of the guarantee and / or loan will be made once and for all, as desired by France.

Loans conditioned

In practice, using the FESF will be conditioned to multi-year plans for fiscal consolidation. They require, as for Greece, a regular monitoring of progress, terms of appointment, or even a questioning of the programmed disbursements. Germany promises to be challenging at every turn.

The European facility can guarantee or provide up to 440 billion euros of bonds or loans, equivalent to 4% of GDP in the euro area. The IMF and the European Commission will provide the additional 60 billion euros for the Commission and up to 250 billion euros for the IMF.

Its creators plan to combine two modes of action: either a common security for borrowings granted by the State in difficulty or of loans granted to the State FESF in trouble after borrowing common in international markets.

Triple A

In both cases, the sixteen are issued by the prestigious AAA rating agencies and the interest rate is more favorable. The first method is the simplest and fastest. The second, which resembles a European issue, reinforces the coloration Community commitment."This looks like a Euro-issue, even if it remains politically difficult to use the term," says the European official, in an allusion to the reluctance of Berlin.

In addition, the guarantee given by each signatory is not integral, unlike a conventional transmission. It is limited to 120% of the initial commitment of each capital. These 20 points are margin solidarity efforts made by the Merkel government. They also mean that Germany would not pay off the entire bill, even in the unlikely scenario where all partners would collapse one after the other.

The concern is strongest on Wall Street. While the Greek parliament adopted the austerity measures required to pay using the EU and the IMF, the American financial markets plunge. The Dow Jones fall at the close of 3.21% to 10,520.32 points, the Nasdaq lost 3.44% to 2319.64 points and the S & P 500 3.24% cowardly to 1128 points.During the session, the markets have even panicked: the Dow Jones has suffered a historic collapse of 9% and the Nasdaq is up 8.85%! But according to CNBC, a single error in a large trading company was behind the short dip seen between 14 hours and 15 hours …

Strengthening investor panic, the spokesman for the White House said the reforms, as austerity plan imposed in Greece were "important" but they "take time".

"The situation in Europe has a low potential impact on the U.S. recovery. But this remains an important market for import and export for many countries and the euro is the second currency of international transactions, "says Fred Dickson, chief investment strategist at Davidson Cos.."We all know that we also have budget problems and deficit," warns Jay Suskind of Duncan-Williams, implying that the United States themselves might be affected.

Again, fears of contagion go before the national indicators. However, good news came on the employment front. Entries weekly unemployment declined in the United States during the first week in May, against 444,000 451,000 the previous week, according to the Department of Labor. Economists had expected jobless claims averaged 440,000.

In addition, productivity gains of U.S. companies have been higher than expected first quarter. Productivity increased 3.6% over the fourth quarter, while analysts expected an increase of 2.5%.

The euro plunged again

The euro sank under $ 1.26 for the first time since March 2009. The European currency, which was still worth $ 1.33 last Friday, has broken the symbolic threshold into this new 20:45.

Investors were disappointed by the decision of the ECB to keep interest rates unchanged, while some wanted the European monetary authority takes steps to stem a possible contagion of the Greek debt to other countries the euro area paydayloans.

And the fences in the bright red of the European markets do not help matters.

Oil tumbles

Oil prices fell for the third straight session Thursday in New York.On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for June delivery ended at 77.11 dollars, down from 2.86 dollars the previous day. Over the past three sessions, he accumulated a dip 9.08 dollars, or 10.5%.

"This is entirely due to macroeconomic concerns," said Ellis Eckland held, independent analyst. "The debt crisis in Europe would clearly be negative for economic recovery in the world, especially in Europe."

Freddie Mac and distributors troubled markets

On the side of values, Freddie Mac has asked yesterday in federal funding additional $ 10.6 billion the U.S. Treasury. At the end of 2008, the Treasury has pledged to cover an unlimited losses for Freddie and Fannie until 2012. This new application brings to more than $ 61.3 billion total spent on federal aid to rescue Freddie Mac.In trading, the shares drop 6.24% to $ 1.34.

Retailers Costco Wholesale Corp. and Gap reported sales difficult last month, up just 0.5% for the first and were down 3% for the second comparable basis. Consequence: their respective securities fell by 3.86% to 58.03 dollars and 7.17% to 22.91 dollars.

In their wake, Target was down 1.86% after publishing sales down 5.9% in April against 2.3% expected by the markets.

The telecom equipment maker, JDS Uniphase (-20.15% 10.94 dollars) has announced a loss of 11.9 million (101.7 million against last year). The sales were above expectations at 332.3 million dollars.The company said stronger growth in its order book for 2 years in the first quarter

The security software vendor Symantec (+1.72% to 16.53 dollars) announced a profit of 184 million dollars and the video game publisher, THQ, significantly reduced its losses to 10.4 million against a deficit of nearly $ 100 million last year.

The CBS group (-4.49% at 14.88 dollars) recorded a loss of posting $ 26.2 million for a turnover of 3.16 billion.

Buyers are decidedly paradoxical. When asked about what they expect stores tomorrow, they respond primarily to 34%, they want an organization to save time and choose more quickly. According to the survey ViaVoice-Equipmag conducted among 1010 people, then they are 27% expect more user-friendly spaces, especially with those fashion shops incorporating these bars or cafes with a small library …). They seem torn between the quest for efficiency (less time lost in the shops) and the willingness to spend a pleasant and friendly.

The host and the board

Without hesitation, the respondents clearly prefer the home, advice and human contact for 62% of them as the main element that encourages them to buy magazine.Again, we find this search of human qualities in an age where technological progress is often accompanied by dehumanizing Fast Cash Without a hassle. Followed far behind the presentation of products (26%), failure to see the news (24%), awareness of brands offered (18%) and window (12%).

Launched premiere trade fair trade and distribution Equipmag be held in September in Paris, the poll will traders food for thought. In a slump, and while online commerce continues to nibble away market share, the traditional business's mission of "re-enchant the store."This does not, moreover, reflect on synergies with online distribution: this year the show will be held next Equipmag exhibition of e-commerce to enable visitors to go from one to another.

Not seen since the launch of the classification in 1985! For the first time in 2008, BAE Systems, an advocacy group for non-American, became the leading supplier of arms. The information, published Monday, comes from the International Institute for Peace Research (SIPRI), a Swedish think tank considered a reference material.

According to SIPRI, BAE Systems has been leading the 100 largest arms suppliers in favor of the U.S. market. "The company is based in the UK but generates more than half its sales in the United States. BAE demonstrates the internationalization of the arms industry and the strong appeal of the U.S. market, "says Susan Jackson, an expert of SIPRI.

Sales of BAE established in 2008 to $ 32.4 billion.The bulk of these revenues came from a command of the U.S. Department of Defence who bought vehicles MRAP (Mine Resistant Ambush Protected) as part of the war in Afghanistan and Iraq.

Boeing beat, Navistar enters

BAE Systems therefore delighted number one place to Boeing. The American group, with 29.2 billion worth of arms sales, slipped to third place, and is placed behind his compatriot Lockheed Martin (29.4 billion).

Elsewhere in the rankings after three American groups, Northrup Grumman, General Dynamics and Raytheon low fee pay day loans. EADS is in seventh place. Italian Finmeccanica is eighth, while the French Thales is tenth.

Almaz-Antei, is the first Russian company to make its entry in the top 20 at the eighteenth spot.With 4.3 billion turnover in 2008, "Almaz-Antei has tripled its sales since 2003," says the SIPRI.

For its part, the American Navistar made a sensational debut in twentieth place with 3.9 billion in revenue from sales to the U.S. Department of Defense. "This represents an increase of 960% compared to 2007," says the think tank.

Three times the development assistance

The SIPRI does not fail to note that in 2008 the 100 largest arms suppliers have made 385 billion dollars in revenue, a figure rising to 39 billion by 2007."This represents more than three times the total development assistance of OECD countries (120 billion dollars)," lamented the SIPRI.

According to the findings of the ranking, sales of BAE are equivalent to the GDP of 105 countries worldwide, while Lockheed Martin exceed 4 billion development aid from the United States.

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"Meeting in prison with the" merchant of death "

"Defending the money effectively and the interests of American taxpayers." That is what the U.S. Treasury Department wanted exercising "its right to appoint two directors to the board of directors of the insurer American International Group (AIG). Thus, Donald Layton and Ronald Rittenmeyer joined the group.

According to Treasury, these two newcomers "will contribute significantly to what AIG Debt Reduction, to divest itself of its so-called risky activities and reimburse the taxpayers," commented Herbert Allison, the Assistant Secretary for Financial Stability.

Donald Layton has held the position of CEO including E * Trade Financial Corporation and worked for 29 years at JP Morgan Chase (until 2004).Ronald Rittenmeyer himself has chaired and directed Dating Electronic Systems, a technology services company that was sold to Hewlett-Packard in August 2008.

For the U.S. Treasury Department, the appointments are "right" puisqu'AIG breached its duty to pay dividends on preferred shares held by the State. And for four quarters.

A rescue that has cost too much

The insurer had in fact been rescued from the brink of bankruptcy in September 2008 by the American central bank (Fed). Moreover, officials of the support plan that was put in place for the U.S. insurance group felt that excessive funding were paid cash loans Guaranteed approval ".

Directed by Neil Barofsky, the Special Inspector General to oversee the use of 700 billion dollars of public funds used in the heart of the crisis (or 468 billion euros), a report overwhelms including Timothy Geithner, the current Treasury secretary U.S. and chairman of the Federal Reserve of New York at the material time.

The rescue of AIG will ultimately cost about 180 billion (120.4 billion euros).

Disposals to repay

With the sale of Alico to MetLife for $ 15.5 billion, and after the agreement to sell its Asian branch of life insurance, American International Assurance, to $ 35.5 billion to the group Prudential, AIG will go to the New York Fed's $ 32 billion in cash in the coming months, if both operations are packed as expected by the end of 2010, the Wall Sreet Journal highlighted recently.

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