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The defense electronics group Thales has multiplied by eleven net profit in the first half compared to the same period in 2009. It amounted to 138 million euros against 12 million euros last year. The turnover has increased it by 4% to 5.95 billion.

"It's a gradual recovery in line with our expectations in an environment that is becoming," said Luc Vigneron, CEO of Thales. France and Great Britain, where Thales is firmly established, and Germany are considering a reduction in their defense budgets. Faced with this gives the group confirms its commitment to expand internationally. "We are continuing our campaign to improve our performance and want to take advantage of growth areas in emerging countries," said Luc Vigneron.

The group confirmed its 2010 targets. The sales will be stable, the operating profit margin would be 3 to 4%."An operating profit of 3 to 4% corresponds to a net positive for the group," said Patrick Durand, CFO. Thales has a loss in 2009.

Two contracts uncertain

While the group has already Saffron rebound airline, Thales will benefit later recovery of the aviation sector. It is possible that the group is obliged to take further charges for two contracts, "the situation is still somewhat uncertain": Meltem contract signed in July 2003 with Turkey on the one hand, the contract signed in July 2004 for the military transport plane A400M ordered by seven NATO countries (Germany, France, Spain, United Kingdom, Turkey, Belgium, Luxembourg), on the other. "Discussions are under way with Airbus business," said Luc Vigneron.The President of Thales said that the group has been in question had also been penalized by delays to the A400M.

Thales, which has won three contracts in excess of 100 million euros in the first half of 2010 against nine for the same period in 2009, expected completion in the second half of the supply of 81 satellites in the Iridium group. A contract of one billion euros.

Saffron is still determined to seize Zodiac

Saffron is always seize Zodiac. Jean-Paul Herteman, Chief Executive of the group of aerospace and defense, confirmed Wednesday that a rapprochement with Zodiac absolve synergies. "We make time to convince," said Jean-Paul Herteman. The battle is difficult. The supervisory board of Zodiac refused unanimously on July 11 a merger offer.Didier and Olivier Domange Zarrouati, respectively Chairman of the supervisory board and chief executive, believe that Zodiac may develop "not lean Safran or anyone else."

Optimistic after the publication of its first half results, Safran has also raised its annual forecast. It expects an operating margin of 8% against 7% previously. It provides a turnover close to that of 2009. "The performance in the first half lead us to revise our ambitions higher," said Jean-Paul Herteman. The group made a net profit of 223 million euros in the first half, down 20.6%.

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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.

One was 37, he is a mason, tiler. The other is 53 years old, it is mover. Gunseli and Michel worked in the Paris region. And both consider "poor" taking into account the hardship, as proposed by the government: the ability to stop working at age 60, provided they have been recognized inability to at least 20%. An advanced course, but also points to the pension reform the most debated by MPs, part of the majority joining the left to request a more broad.

"Now I have to retire at age 62. This is not fair. After 60 years, it is too difficult physically, gunseli regrets. In construction, it is hard all the time.But hey, there's nothing to do, the government chooses. "Considering that life expectancy is lower than" people who work in offices, gunseli legitimate judge to keep a starting retirement at age 60.

"Tired and decreased"

An argument that includes Michael. But the latter, well aware of the contents of the bill, is more nuanced. "We are always obliged to take examinations. The 20%, it will remain an exceptional measure for people who have major injuries, "he laments. The measure should be more flexible. Special schemes and benefit from generous, all we have to work longer. "But then he admits:" Even if you do the same job, it's normal that leave those who are injured early retirement."

Between trips to the doctor, prosthetics and rehabilitation, Michel, as gunseli, admits however, "tired and down." "Clearly I can not do the same work that 20 years!" Jokes the mover, who, despite a slight limp, does not meet the criterion of 20% disability.

And this is probably the real problem: lack of prevention and management of workstations, to avoid the burnout. "It does not exist in the world of work! You're there to produce "wryly Michel. Accustomed to carrying heavy loads and repetitive work and stressful, the fifties suffers from chronic back pain and a persistent knee pain."Every time I go see the doctor, it relieves me of the time, he says, but once you have an injury, no turning back is possible."

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The situation is now clarified. The U.S. company Electronic Arts, publisher of The Sims and sports games like Fifa 10, announced Friday the sale of its share of almost 15% in Ubisoft Entertainment, the leading European video games. According to Reuters, the Swiss bank UBS have been mandated to oversee the operation.

"Electronic Arts (EA) has decided to sell its stake in Ubisoft Entertainment. Our strategic priorities have changed since the initial investment, "said a spokesman for the American group in Europe, in an email sent to news agencies.

Returning to the capital of Ubisoft in 2004 through an unsolicited transaction, the Californian publisher therefore gives up its largest shareholder at the Guillemot family which owned 11.3% stake in European company in May, according to data from Thomson Reuters . Electronic Arts, meanwhile, held 14.82% stake in Ubisoft.

Electronic Arts refocuses its strategy

The American, whose sales have shrunk in late 2009, still on track to reducing costs and streamlining its business. Electronic Arts had already announced it will cut 1,500 jobs in November, and its intention to focus on fewer games. He also wants to expand its content and services online. By disengaging from Ubisoft, the group shows that this participation was more strategic for him, but merely financial.

The news did not surprise analysts sphere. Asked by Reuters, Richard Beaudoux, analyst at Natixis Securities value, said that Electronic Arts "has probably said it was an opportune time to clarify his situation.Last March, the voting rights of the American group had declined due to internal redeployment from 23.5% to 13.2%, said the analyst, for whom this "already showed that (Electronic Arts, Ed) sought to sell its " bad credit payday loans.

Situation clarified for Ubisoft

For Ubisoft, the announcement is good news, said Richard Beaudoux. The European publisher never managed to agree on strategy or on a redemption price, he said. The departure from Electronic Arts releases is the situation. Ubisoft and thus finds greater liquidity and freedom of decision in its strategy, concludes the analyst Natixis Securities.

If Electronic Arts shareholder seemed natural to Ubisoft, the disengagement of American might allow other investors to take a closer look at Ubisoft, says a trader.The Disney group or investment fund Elevation Partners are among the names of potential investors cited regularly.

"We wanted to stay independent"

"It's rather good news for us since we wanted to stay independent," a spokesman assured Ubisoft AFP. The latter did not say who would the purchaser of such shares or the amount and date of the transaction.

Ubisoft therefore creates a surprise for the second time this week. The video game publisher announced Tuesday a turnover of 160 million euros for its first quarter of 2010-2011 (April-June), up 93%. A performance well above its own expectations. Around 3:00 p.m. this Friday, Ubisoft's action, however, lost 1.32% to 6.88 euros.

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The word "low cost" is less and less taboo at PSA Peugeot Citroen. In early May, Philippe Varin, the boss of the manufacturer, said that the group "did not rule out being on the low-cost one day." He said: "If this were the case, it would not be with our two brands."

So far, the group said informally that such a vehicle was considered only for Asia. But on Wednesday, on the occasion of the presentation of business results of the first half, Jean-Marc Gales, director of Peugeot and Citroen, has taken a new step.It does not mark a low cost, the third group, is distributed in Western Europe, even if the device has not "yet been decided" for the continent.

Chinese Partner

"If we did, and I say this in the conditional, a car really low-cost, it would necessarily under a different brand and obviously with a different distribution method, which could be" completely different and very creative, "he said, citing sales via "Internet". No matter under him from selling such vehicle in a Peugeot or Citroen dealership, and therefore to take the risk of blurring the image of two brands that are trying to go upmarket.

Asked about the possibility of building such a vehicle with a Chinese partner, Jean-Marc Gales said "one could imagine many things" with these manufacturers credit reports free.PSA, which has already formed a joint venture in the Middle Kingdom, will sign one second Friday with Changan, fulfilling a letter of intent.

Meanwhile, the group develops a medium sedan declined under the Peugeot and Citroën, which will be for the "heart of the range" of emerging countries. Production will be initially located in Spain. In the same logic, PSA works in partnership with Japan's Mitsubishi, with a small entry level car for these markets.

At the last general meeting of the group in early June, Philippe Varin had hammered this sedan designed for emerging markets was neither low-cost, or intended to Western Europe.More broadly, he appeared to reject the principle of marketing a low-cost model in Europe: "If a low-cost means low-end model, manufactured in low cost countries and for Europe to the West, while the group is not on the low-cost, had he stressed.

Given the success of Dacia, the Romanian brand Renault, which has exceeded 5% market share in France, the Lion is now considering actually in the parade.

The EPR, the flagship of the French nuclear technology, today faces an unprecedented wave of questions. After the failure of tendering Abu Dhabi and pending report Roussely devoted to the articulation of the French industry, design, price and export capacity of this tool crystallize debates . To the point that some observers, the EPR would already hit the "syndrome Concorde: a powerful engine sure, but difficult to assemble, expensive and unmarketable credit report.

Provisions repeated Areva's Olkiluoto site have largely supported this suspicion. But, after Finland, behold, the EPR Flamanville, built by EDF, also maintains the possibility of "industrial accident".

In the battle over economic strategy, which raged in the country G8/G20 meeting in Toronto, Nicolas Sarkozy ranks clearly on the side of Barack Obama's hostile plans rigor precipitates. "For France, fiscal consolidation is a long-term need [...] the stimulus must be from 2011, gradually, depending on individual circumstances," said one EU source.

Favorable cures severe austerity in Greece, Portugal and Spain, Nicolas Sarkozy calls for budget adjustments "progressive" in France and Germany, from 2011, with "not too many taxes."

The fragile economic and financial worries Europe G8 and G20. "Our partners Americans and Canadians fear the impact of austerity plans on resuming" said one EU source.The health of banks on the Old Continent is also a major concern in the United States. "There's nothing to fear from that quarter. Our banks are very strong. The results of stress test in late July is going to cheer the markets, "say the Europeans.

Faced with the Americans, Germans and Britons facing the G8 steadfast defenders of rigor. "A sustainable growth can not result from a fiscal policy based on the debt!" Repeats Angela Merkel. "Our public finances are in such a state, we have no other choice than a hard adjustment," he defends David Cameron.

Within this debate, Nicolas Sarkozy wants to distinguish itself from its European partners. Recognizing the need to reduce fiscal deficits in France, he will not rush, giving priority to pension reform.If markets were not so vigilant, he would gladly own the warning of Barack Obama: "do not overdo it in 2010 … or 2011.

Bureau Veritas announced Tuesday the acquisition of Inspectorate, specialist inspection and testing of raw materials and subsidiary of British Inspicio. The transaction amounted to 450 million pounds (nearly 540 million euros) and should be completed in the third quarter of 2010.

Inspectorate, currently held by the investment company 3i, is also present on the testing of petroleum products and petrochemicals (59% of its turnover), metals, minerals and agricultural products.The company recorded 2009 sales of 246 million pounds (280 million euros).

In a statement, Bureau Veritas claims that the acquisition allows it to position itself as "one of the world's leading inspection and testing of raw materials," a buoyant market, "according to Chairman Frank Piedelièvre group, whose potential amounts to 5 billion euros, according to the group saving account payday loan.

Inspectorate therefore give "a new dimension to the group that doubles the size of its laboratory network (330 sites) and now offers a range of services the industry's broadest assessment of compliance."

Bureau Veritas says that the transaction will be financed through existing credit lines and newly negotiated. The group expects a turnover of around 3 billion euros in 2010.It amounted in 2009 to 2,648,000,000 euros.

Found 100 billion euros in three years. This is the government's objective to reduce the deficit from 8% to 3% in 2013, reiterated Prime Minister François Fillon on Saturday, which gave details of the proposed measures. "We have pledged by 2013 to reduce our deficit from 8% to 3% and all our efforts will focus on this priority. It means basically that should reduce the deficit of 100 billion by 2013, "he said during a meeting with new members of the UMP Salle Gaveau.

The $ 100 billion, "we (them) to find the half in spending cuts and half in revenue increases," said the head of government.The 50 billion euros in spending cuts will be made up of "45 billion by reducing public expenditure, 5 billion on reducing tax loopholes."

On the revenue side, the 50 billion do not result from increased taxes and levies, "said Francois Fillon. He bets on "35 billion upgrading after the crisis, loss of revenue cyclical. (…) As and when growth returns, revenues are growing once again, "he said. And the remaining 15 billion? They "will correspond to the end of the steps we have taken to boost the economy and have obviously not meant to last beyond this period of recovery," he added.

In May, Francois Fillon had already announced a freeze in spending value of the state but had not detailed the targets.These details are involved a little less than a week after Berlin has adopted a plan rigorously evaluated at 80 billion euros. France is under pressure from financial markets and rating agencies, who urged him to detail the measures to be taken to reduce debt.

"New sources of funding"

The Prime Minister also addressed the issue of pensions. While the government prepares to release his reform plan, Francois Fillon reiterated its intention to extend the duration of activity and pushing the "symbol" of the statutory retirement age to 60 years.

It will also seek new financing, he added. "Justice will lead us to seek new sources of financing because the effort must be shared by all," he said.Nevertheless, the government has temporarily waived taxing incomes over 11,000 euros per month, according to information from Figaro.

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"Maintaining the AAA rating is an objective" tense ", according Baroin

While Wall Street has ended sharply higher on Thursday evening, and the Asian stock markets move in the green, the Paris Bourse, which also took over Thursday evening colors, the trend should be confirmed on Friday morning, but surely more timidly.

The CAC 40, ending up over 2% yesterday, managed to climb beyond 3,500 points. Sign of the return of investors, the volumes are recovering. About 4.5 billion changed hands on the great values of the Paris stock exchange Thursday.

In Europe, the announcement by Jean Claude Trichet, president of the European Central Bank revised upwards its growth forecast for 2010 to 1% against 0.8% previously, has reassured investors.

Jean-Claude Trichet also reiterated its confidence in the euro, a currency "very credible".On the foreign exchange market, the euro, good barometer of market confidence returning the land to more than $ 1.21. On Friday morning, about 7:15, the euro does not move too much, and gold trading at around 1217 dollars per ounce.

Statistics follow

In France this morning, inflation will be unveiled by INSEE for the month of May, at the same time as the balance of payments in April (Bank of France).

In the eurozone, this balance will be issued for the entire quarter at 11:00.

While in the U.S., sales details in May, which will be published at 14.30, will be as usual well attended, and the second estimate of the confidence index from the University of Michigan for the month May, at 15:55.Five minutes later, it is the stocks and sales of companies in April will be known.

Club Med lots of red heads for China

Club Mediterranean in the first half of its 2009/2010 financial year ended in April with net income of 3 million euros, against 22 million loss a year earlier, in a European tourist market "sluggish" and despite the impact Icelandic cloud, "he said Friday in a statement. In addition, the group discusses with a Chinese group ready to open its capital, according to management.

EDF CEO Henri Proglio will meet this Friday, Gazprom CEO Alexei Miller to discuss the pipeline project Southstream. Alexei Miller said one option would be for EDF to take a 10% stake in Southstream.

Moreover, the computer giant HP has partnered with a subsidiary of EDF to provide businesses with "Pod", aka Performance Optimized Datacenter, installed computer labs in containers.

Lagardere Lagardere announced the signing of a Memorandum of Understanding for the final disposal of the television 17 to Bolloré Virgin Media.

The manufacturer Renault has confirmed the reports of Figaro on the appointment of Dominique Thormann the position of Financial Director Replacment Thierry Moulonguet.

Peugeot Thursday, hail crippled the manufacturer's plant in Sochaux. The group has not yet quantified the shortfall.6000 employees are laid off.

With STMicroelectronics Soitec could could hold the attention after the Semiconductor Industry Association (SIA) has estimated that worldwide sales of semiconductors will grow by 28.4% to 290.5 billion dollars in 2010 thanks to strong demand from emerging countries.

Banking Profession, held in the IIR, said that the regulation being developed in Basel will have a massive impact on growth, particularly in the euro area.

Societe Generale Kerviel At trial, the atmosphere is electric. The ex-trader annoys the President and General Counsel of the Company to show nervous.

Pharmaceutical companies across Europe, governments are spending on health to reduce their deficit. France is no exception. The government fell in April the rate of return of 200 drugs.He also announced a few days ago to further declines in commodity prices, in order to save 100 million euros by December.