The CAC 40 has struggled to define a trend on Friday. The meeting has been volatile, rising succeeding downward and vice versa. Halfway through, the ACC showed an increase of 0.54% to 3619.85 points after opening down 0.13% to 3595.66 points. Before switching to newcomer to build in the red to 16 hours under the 3600 points. Finally, ACC closed with a gain of 0.18% to 3607.05 points.
Elsewhere, the indices have evolved piecemeal. The London Stock Exchange, which opened down 0.37%, ended on a note steady at 5312.62 points. The DAX index of the Frankfurt Stock Exchange, which had also started the session on a decline of 0.27%, finished with a gain of 0.39% to 6166.34 points.The Madrid Stock Exchange, where banks are under pressure as the newspaper El Pais said in its edition today, regaining ground with a rise of 1.07% against -0.54% in early trade.
The waiting game surrounding the publication of results of stress tests of European banks calls for caution investors. On the currency markets, the euro back a bit against the dollar, under $ 1.29.
Asian markets have them selected more strongly green this morning. Yesterday, U.S. markets have done a great meeting at which time the Dow has gained almost 2%, relatively insensitive to the announcement of a surprise increase in weekly unemployment registration.
Consumption of French decline
In terms of macroeconomic statistics, the session looks very calm.No major indicator is expected in the United States.
In France, the French household consumption of manufactured goods fell 1.4% in June after the previous month was supported by purchases of televisions before the World Cup, according to figures published by INSEE before the opening markets. Throughout the second quarter, it shows a decrease of 0.9% after falling 1.9% on the first three months of the year. Analysts on average expected a rise of 0.2% in June
INSEE also believes that the request to industry has increased significantly in the second quarter but is expected to decline in the third.The balance measures the views of industrialists on the past evolution of aggregate demand was 9 in the previous survey in April to 17 in July, and 4-14 for foreign demand.
In Germany, business climate has improved significantly more than expected in recent weeks. The Ifo index rose to 106.2 against 101.2 in June (revised from 101.1 in the initial estimate) last month. Economists and analysts had expected decline to 101.6.
TF1 jumped after its results
Stress tests, however, occupy the banking sector.BNP Paribas (-0.06%), Societe Generale (+0.08%), Credit Agricole (-1.11%) and Natixis (+0.10%) are unsure about what direction to take.
Moreover, the markets will again this session to analyze several quarterly publications:
TF1 (6.41% to 12.45 euros) announced before market advertising revenues up 11% in the first semester for a total turnover of 1.28 billion euros, above consensus. Net income group share was 74 million euros over the period. The objectives are significantly revised upward with a turnover in 2010 rose by 7% instead of 4%.
STMicroelectronics (-3.58% to 6.49 euros) reported Thursday a profit above expectations at 18 cents per share, with sales up 27% to $ 2.53 billion.Analysts on average expected a profit of 14 cents per share and a turnover of 2.513 billion dollars.
Pernod Ricard (-2.34% to 62.61 euros) a statement on Thursday its forecast annual operating profit thanks to the improved economic environment and its position in emerging markets.Its turnover in 2009-2010 emerged, up 2% on a comparable basis.
Ubisoft (-0.07% to 6.97 euros) issued a revenue increase of 94% in the first quarter of 2010-2011, to 161 million euros and confirmed its objective of a sales draft 160 million for the remainder of the year.
BioAlliance Pharma (0.91% to 5.53 euros) announced a record turnover of 15.2 million euros in the second quarter against 1.5 million a year earlier, after recording in April in U.S. Loramyc, headlight treatment of fungal infections in patients with oral cancer or AIDS.
As for ads, Alstom (3.73% to 38.55 euros) said it had won contracts valued at about 450 million euros for the construction of two units for a combined cycle power plant in India.
Air Liquide (1.15% to 87.78 euros) announced Friday the signing of a new contract with Russian steelmaker Severstal for investments worth 50 million euros in total.
Legrand (1.86% to 25.68 euros) Thursday announced a takeover offer for Indo Asian Switchgear India, where he produced nearly 4% of its annual turnover after the acquisition. Indo Asian Switchgea aims for 2010 sales of more than 35 million euros.
Maurel et Prom (0.53% to 9.45 euros) announced Thursday it had increased to approximately 70 million euros the amount of its issuance of convertible bonds to five years following the full exercise of the option overallotment.