The CAC 40 continues to decline
The CAC 40 Opens Wednesday's session again on a decline. After a dramatic surge Monday and a break Tuesday, the Paris markets following the U.S. trend and Asia, that is to say on a bearish note, including a technical standpoint.
The markets have overreacted to the emergency plan Monday to the European Union, blew Tuesday, notably taking into account the economic difficulties of the Old Continent in the medium and long term are not resolved. In the first exchanges, the CAC 40 was down 0.75% to 3665.8 points.
Thus, the uncertainty takes over your life.However, markets hate uncertainty, particularly the euro remains under pressure against dollar propels gold higher: an ounce reached 1235 dollars in Hong Kong on Wednesday morning.
The key index in Paris also changing depending on the reaction of investors to the rain of macroeconomic publications in France, Europe and the United States. Many companies have released their quarterly revenue.
Torrent indices importance
In France, consumer prices rose 0.3% in April compared to March to receive an increase of 1.7% year on year, according to Insee.Another factor is the expected French industrial investment rose 6% in 2010 (against 5% previously).
However, French growth was revised in 2008 to 0.1% (against 0.3% previously announced) and in 2009 to -2.5% (-2.2% cons), while the GDP rose only 0.1% in the first quarter of 2010, according to a first estimate.
Furthermore, the current account deficit moved to France to 4.8 billion euros in France in March, after 3.5 billion in February, said Wednesday the Bank of France.Twelve-month cumulative current account deficit amounted to 40.6 billion euros in raw data.
In Britain, the unemployment rate in April will be unveiled, while Gordon Brown leaves his post as prime minister in favor of Conservative David Cameron.
In the euro area, the first estimate of GDP over the first three months of the year is included on all agendas investors.Industrial production in March for the sixteen countries with the single currency will also be scrutinized closely.
In the U.S., the news is also responsible macroeconomic Wednesday, including figures on external trade in March (1430) and the traditional weekly crude oil inventories (1630).
Vivendi largest increase in the CAC 40
Vivendi (1.03% to 18.1 euros) has issued a consolidated net profit of 598 million euros (+21.3%) and a turnover which rose by 6% to 6.9 billion Euro. The titles show the largest increase in the CAC 40 in front Lagardere (0.14%, to 27.95 euros).
Natixis confirmed its recovery. The company posted its third consecutive profitable quarter to 464 million euros, against a loss of about 1.8 billion euros in the same period last year.Its parent company, the group BPCE, publishes a quarterly net profit of around 1 billion euros. Natixis shares climbed 3.15% to 3.86 euros, or one of the best performances of the SBF 120.
For its part, Dexia said it earned 216 million euros in the first quarter, better than expected, but less than a year before. His exposure to the debt of Greece to 3.7 billion euros. In an interview with Le Figaro, Pierre Mariani, the CEO wants cautious for 2010.
Leading the SBF 120, Steria: turnover rose 2.9% at constant scope and exchange rates in the first quarter to 414.6 million euros for the group of services. The shares are 7%, 24.3 euros.
Just behind Ipsos (3% to ? 29.65) expressed confidence in his ability to resume in 2010 with sales growth and profit margins after a first quarter rebound in activity.
CNP Assurances (0.58%, to 62.7 euros) saw its net profit in the first quarter bend 2% a year. It has indeed reached 280 million euros in the first quarter for a turnover of 9.4 billion euros.
TF1 bends, Rexel fall
In TF1 (-2.63% to 12.94 euros), the advertising sales rebounded 13% in the first quarter. Chain foresees for 2010 a growth twice higher than expected turnover in favor of the integration of a TMC NT1.
Its parent company Bouygues (-0.53% to 34.42 euros) said Tuesday quarterly sales fell slightly, the growth activities of Telecom and TF1 was not enough to offset the decline in construction and Colas.
Telecom side, it is SFR and Bouygues Telecom who have hoisted the leading French telecom operators in the first quarter in terms of winning new subscribers in the fixed (ADSL), enjoying a particularly poor start to the year at France Telecom ( -0.25%, to 15.9 euros).
In addition, the telecom regulatory authority, Arcep said Tuesday that Free Mobile, Orange and SFR had applied for the two blocks of spectrum third generation mobile (3G) Residual now available in France .
NRJ Group (-0.27%, 7.5 euros) has announced a turnover down 1.7% in the first quarter, the combined effect of the decision of the musical and Cleopatra a media market remains timid.
For its part, Metropole TV (M6) tumbles 11%, to 17.84 euros.
Rexel fell 5.25% to 11.37 euros.The electrical equipment distributor issued a quarterly revenue of 2.7 billion euros, down 5.7% on an organic and an EBITA of EUR 109.3 million, up 33%.
Meetic climbs
Derichebourg announced Tuesday a 18% jump in net sales in the first half of 2009 to 2010 at constant perimeter and constant exchange rates due to strong growth in its environmental services industry.
Meetic (7%, to 20 euros) on Tuesday reported a 37.6% increase in its quarterly revenue, to 43.4 million euros and confirmed its growth target for pro-forma revenues of between 7 % and 10% for the full year 2010.
Finally, the Bollore Group said Tuesday have options to sell two thirds of its stake in Vallourec in May 2011 at a guaranteed price of 136 euros per share.The exit clause if Bollore exercised, would cover an amount of 267 million euros and represent a potential capital gain of 130 million euros.