Sundial of world news

The CAC 40 is increased again this Friday, after playing the card of caution on Friday until 14:30 time of publication of U.S. GDP worse than expected.

The CAC 40 has lost more than 1% up shortly after the announcement of a U.S. economic growth of 2.4% against 2.5% expected, the index rolled up the slope and pierced the waterline to increase to 17 hours from 0.66% to 3676 points. An evolution that follows the trend taking place today on Wall Street.

The reason? A Chicago PMI, which increased more than expected and U.S. consumer confidence down, but less than expected.

Publication Burst

Alcatel Lucent (8.27 to 2.24 euros%) announced revenues of 3.813 billion euros in the second quarter.The group reiterated its outlook for 2010, including an Adjusted operating income of between 1% and 5% of its revenues.

JCDecaux (1.16% to 20.10 euros) on Friday announced a net profit in the first half of 65 million euros. The group anticipates a change in organic revenue for the third quarter less than that of the second with a cash flow of 119 million euros, compared with -1.7 million euros in the first half.

Lafarge (-4.75% to 41.43 euros) has reported a sales increase of 2% to 4.43 billion euros in the second quarter. The company expects a reduction in capital expenditure to less than 1 billion euros in 2011.

EDF (1% to 32.80 euros) announced a net income Group share 1.7 billion euros including a provision for $ 1.1 billion on its North American operations.The group, which should sell its UK electricity networks based on an enterprise value of over 5.5 billion pounds, has announced a delay of two years for his BDU Flamanville.

EADS (2.70% to 18.06 euros) announces a net profit in the first half of 185 million euros and a turnover of 20.3 billion euros.

Schneider Electric (2.14% to 88.25 euros) publishes a turnover of 8.57 billion euros in the first half (+10.5%) of which 4.661 billion (+18.5%) in the second . In an interview with Le Figaro, Jean-Pascal Tricoire, CEO, set an improvement for the second part of the year.

Renault (0.28% to 33.74 euros) issued a revenue increase of 23.1% for the first semester in the same area, to 19.668 billion euros.The constructor returns to the green with profits of 823 million euros.

The reaction of Peugeot (-2.23% to 22.61 euros) will be observed.Also in the automotive industry, Michelin (-1.40% to 58.52 euros) announced a net profit in the first half and said it expects a continued rebound in demand for tires in the second half of the year .

PPR (-0.34% to 102 euros) has announced a net profit after minority interests rose 86.8% to 407 million euros in the first half.

Imerys (+0.27% at 44.59 euros) has reported a net operating income rose sharply to 122 million euros in the first half with a turnover of organic growth of 16%.

Total (1.30% to 38.85 euros) announced adjusted net income for the second quarter of 3 billion euros, up 72%.

CNP Assurances (EUR 15.45 -4.01%) has published a net increase of 8% to 542 million euros and a turnover of 17.697 million euros (+2.4%).

Rhodia (1.14% to 15.93 euros) raised again after its 2010 targets announced Friday results exceeded expectations in the second quarter.

Saint Gobain is optimistic

Saint-Gobain (-2.16% to 32.57 euros) reported a strong rebound in its first half results, while confirming its target of strong growth in operating earnings in 2010.

Capgemini (-1.29% to 35.88 euros) has announced the acquisition of the Swedish IT services Skvader Systems. No financial details were disclosed.

Air Liquide (-0.81% to 85.40 euros) has announced the acquisition of the company Lion Copolymer Geismar American Services.No financial details were disclosed.

Euler Hermes (4.94% to 61.40 euros) has reported net profit more than doubled in the second quarter from the first and said he intended to maintain profitability in a more favorable macroeconomic environment that over the past two years.

Ingenico (5.28% to 19.45 euros) on Thursday posted a net profit increased more than two in the first half thanks to increased transactions in Europe and raised its sales target.

Alten (-0.49% to 22.29 euros) has reported a slight improvement in activity in its sector in the first half. Turnover increased 2.7% to 450.9 million euros over the period.

Flo (-3.7% to 4.43 euros) said that the activity in its restaurants had not yet regained the level that was hers before the crisis, despite the reduction in VAT.The turnover of the group stood in the first half rose 7.6%.

Danone raised its sales growth target for 2010 after the publication of its results for the first half Tuesday. The group recorded an increase in its turnover by 7% over the period (6.9% in the second quarter) to 8.364 billion euros. Danone now expects growth in sales of "at least 6%," cons "at least 5%" previously.

Current operating margin stood at 15.30% in the first half, against 16.03% over the same period in 2009. The band announced target for the whole year stable margins on a comparable basis compared to 2009. The operating profit amounted to 1.28 billion (against 1.2 in the first half of 2009).

The current net profit climbed 10.1% to 848 million euros.

Danone also aims to increase free cash flow from operations of at least 10% compared to 2009 historical data.

"A good start to the year"

Group CEO, Franck Riboud, speaking of a "good start to the year" and that Danone announces in particular will continue "to invest in developing countries, products and brands with strong potential: Child Nutrition in Asia, the Fresh Dairy division in United States, Brazil, Russia.

"At the same time, he adds, we are continuing our efforts to improve productivity, essential to cope with the volatility of our raw materials." Third key point, Franck Riboud said that "cash generation continues to grow strongly."

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.

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 French committee of manufacturers (CCFA) set the tone by announcing in May the first decline in the market over one year with a sales decline of 11.5% in the month of May On Thursday, the CCFA should announce at 24:01 new track to exit the sector with a heavy fall in the market about 10% in June according to preliminary figures announced by BFM. In its Thursday edition, the Parisian is a little less pessimistic and foresees a decline of 7.5%.

Throughout the first half, however, sales are expected to increase by 4% thanks to good figures at the beginning of the year. In the first quarter, the premium had already broken down, but the manufacturers had assured compensation. Result: the market had increased by 16.9%. The second quarter would be less attractive, the end of car scrapping seriously starting to feel their effects.

Renault is doing well

As for manufacturers, all the French have won market share. Renault is the one who gets the better of the game's pin manufacturer would have gained 1% market share. On June alone, its subsidiary Dacia has sold as many cars than the whole of 2009. According to Bernard Cambier, director of sales Renault France, the Sandero is indeed the best-selling car in France. In total, Dacia would hand over 5% of the French market.

As for foreign carmakers, Volkswagen resist well. Exports of German cars rose 46% in the month of May

Scrappage EUR 500

According to BFM, the prospects are not reassuring. In the second half, the reduction would be 20%. Nevertheless, the number of cars sold would be even higher CUX 2007 and 2008.For the full year 2010, the decline would be 10%.

The market expected a backlash over the second half of the year. The July 1 heralds a new drop in scrap bonus which amounts to 700 euros to 500 euros. More government aid declining, manufacturers are less able to compensate. In Europe, the example of Germany left pointing to an already difficult year-end. The country, which ended the scrappage scheme in September 2009, showed a slump of 34% of registrations in the month of May.

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Monday, Le Monde has turned a page of his story in a calm atmosphere. Once is not custom. Upon completion of the supervisory boards of the World, offers the trio Pierre Berge, Xavier Niel and Matthew Pigasse ("BNP") received 11 votes. The other nine votes abstained. Employee representatives had 9 votes, and Louis Schweitzer, Chairman of the Supervisory Board, which made the difference in making its voice and that entrusted to him by Claude Perdriel, boss Le Nouvel Observateur and unsuccessful candidate for the resumption of the World.Louis Schweitzer has done everything to ensure that The World is lost in a new crisis between the employees and field representatives (Lagardère and Prisa, La Stampa, Pierre Lescure, Jean-Louis Beffa …).

Over the weekend, in the daily columns, he emphasized the seriousness of the financial situation and warned: "I hope there will be convergence." At the end of the supervisory board, Gilles Van Kote The president of the Society of Editors (RS) welcomed "the gesture of a great lord of Claude Perdriel, which withdrew its offer and voted for its competitors. On Monday morning, Claude Perdriel and Orange announced they were withdrawing their offer, drawing the lesson of the plebiscite of employees of the World for the trio "BNP".Into effect on Friday, the different societies of staff (Le Monde, Le Monde Interactif, Telerama, Courrier International, employees, managers …) have spoken overwhelmingly (between 80 and 91%% for the Society of Editors of World) for the trio Pierre Berge, Xavier Niel and Matthew Pigasse. After the vote, will open exclusive talks with the trio BNP. Beforehand, prospective buyers are, as they had committed 10 million euro move before July 5 to cross to Le Monde's financial deadlines July 10 and have enough money to take all summer ."Then, in late July or early September a new supervisory board will endorse the negotiations and the deal should be finalized in late September or early October," said Gilles Van Kote.

Negotiations with Lagardère and Prisa

In total, Pierre Berge, Xavier Niel and Matthew Pigasse provide 110 million euros. Therefore, they will control 64.65% of capital. For the first time in the history of the world, workers will abandon the majority stake and control group. The trio "BNP" had taken the measure of the importance of this decision. That is why he insisted on preserving the editorial independence of publications group. Better, it should make a gesture in their favor.Pierre Berge has promised to create a foundation with 10 million euros destined to gradually increase the share of employees to 33%.

With other shareholders, Lagardère and Prisa, also diluted, dialogue should engage. Following the recapitalization, Lagardere will have only 5.86% of capital, and Prisa 5.1%. Lagardère cons grin and heart. In the vote, he refrained. "This is a position consistent with what we've always said. We did not oppose the rescue of the World while taking care to safeguard our interests, "responded Khiroun Ramzy, the group's spokesman. However, Lagardere clearly leaning in favor of the trio Perdriel, Prisa, Orange, with whom he had begun negotiations for the acquisition of its stake in the holding company and Le Monde Interactif. In total, he was to receive nearly 40 million euros. The trio "BNP", everything remains to be done."The investors must now specify their intentions. Everything depends on the proposals they will make us, "adds the group. However, the trio "BNP" remained unclear. If he says he must "return to the activity in the digital world", it does not specify the amount he is prepared to pay to redeem the 34% of Lagardère in Le Monde Interactif.

The other loser is the media giant Prisa Spanish. The group led by Juan Luis Cebrian came late in the battle alongside Claude Perdriel and Orange. He has to defend its interests in the holding head. But his stance in favor of an issue of the daily morning have undermined his bid.

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Satisfaction and prudent. Patrice Durand, CFO, Thales has engaged in a balancing act by commenting on early trends of fiscal 2010. "We had an encouraging first quarter," says he. Markets remain difficult, the consolidated turnover increased by 8% (+5% at constant scope), while new orders booked increased 5% to 2.4 billion euros thanks to force of defense and security industry. In late March, the backlog exceeded 25 billion euros, or nearly two years of activity.

Annual objectives confirmed

However, the group finance director of defense and high technology remains cautious. "Our business is marked by a degree of seasonality. It would be premature to draw conclusions from this first quarter for the full year, "he warned.However, the group confirmed its annual goals: a stable income and an operating margin of 3% to 4%. It aims to build on its new organization – set up in late 2009 – and the first fruits of its "efficiency plan", called Basis Pro, which should reduce the cost of "poor quality" is ie the financial excesses of complex programs. In this regard, Patrice Durand said that "the landscape remains the same" for risk contracts (eg, development of avionics for the Airbus A400M military), because "you can not change radically a program in a few months, "but he adds" we are working hard in conjunction with Airbus.

Resumption of Aviation "uncertain"

The group led by Luc Vigneron remains cautious for the resumption of commercial aviation remained "uncertain" and the group will not benefit from the boost provided by the orders of the French army under the recovery plan. Unlike the budgetary pressure is at its height on the states of the euro area whose deficits have exploded over the past two years and who convert in a pinch. However, defense accounts for 60% in the activity of Thales. The challenge for the group will be to find new sources of growth outside Europe. In 2010 and in years to come.

Also on conviction to a fine of 630 million euros in total (including 15 million in interest) of France in the case of the sale of Lafayette-class frigates to Taiwan, Thales, whose share of the fine represents 27.463% of the contract or its part, has decided to "implement all available remedies" and will soon file an action for annulment before the Court of Appeal of Paris. "As an interim measure, the company will pass on its accounts of the first half of 2010 an additional provision of 35 million euros.

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The crisis in Greek and the euro area worry the president of the United States. "I am very concerned about what is happening in Europe," said Barack Obama during an interview Thursday with the Russian television channel Rossiya and released Saturday. The nervousness in global markets and the increasing concern of investors towards the debts of states caused by the Greek problem posing "serious threats" to the United States, "said Bush.

"I think the Europeans have realized that it was very serious. Greece takes measures very difficult in any case they have put in place a plan that calls for tough measures, "he acknowledged."If we can stabilize the situation in Europe, it will be good for the United States, and it will be good also for Russia."

Realizing the gravity of the situation, the EU should announce before markets open Monday morning, creating a "Community mechanism to intervene" to save the states on the brink of bankruptcy. The European Commission was working on an emergency this weekend to present a convincing ministers of the European economy, which meet on Sunday afternoon. Reflecting the importance of time, Silvio Berlusconi, Italian Prime Minister, and Nicolas Sarkozy, have decided not to travel to Moscow for commemorations of the end of the Second World War.

Week chaotic

European shares and U.S. were closed on very steep declines Friday.Protests against the rigor enameled three died in Athens on Wednesday, and unexplained sudden fall of the New York Stock Exchange during the day Thursday and fear of contagion from the crisis in Spain and Portugal have marked one week chaotic markets.

The statements have increased in recent days to encourage European leaders to act. "We hope to see emerge a strong and rapid European response to crisis", said, quoted by Bloomberg, the Canadian Finance Minister Jim Flaherty, who hosted the G7 on Friday. "We call for an answer as quickly as possible given the circumstances," insisted the Australian Minister for the Budget, Wayne Swan.

The Greeks accept the rigor

Nearly 55% of Greeks prefer an austerity plan to bankruptcy, according to a poll published Sunday in the daily Vima.Over 56% are even willing to accept wage cuts. Contradictory result, however, the same poll found that 53% of respondents felt the need to continue to protest against the austerity of the Papandreou government.

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When the CAC 40 has broken the 4,000-point mark on Thursday, the big question was whether to save on Friday. The European Agreement on the mechanism of aid to Greece found Thursday evening brings a half-hearted: the Euro advanced slightly Friday at 1.3352 dollars (0.35%) and the CAC 40 back from 0.24% to 3990.99 points. Investors are cautious, discussions among European leaders to continue this Friday in Brussels. As like to remind analysts, this bar is a 4,000-point psychological barrier.

Apart from acting and the end of the summit European markets will also be attentive to 13.30 at the third estimate of U.S. GDP 4th quarter 2009.The first two estimates have revealed a U.S. GDP to 5.7% and 5.9%.

As for values, in the absence of results announcements in France, all eyes remain fixed on the bank stocks.

But also Renault and Daimler in: according to information from Figaro, both constructeursdevraient sign their alliance following a special board convened by Renault for next April 6.

In a speech to the press, St?phane Richard, the new boss of France Telecom, unveiled the outline of his managerial plan. He said such a "dialogue was established between my team and the social partners".

The trial of Antoine Zacharias, former CEO of Vinci, was opened on Thursday.He criticizes the spectacular amount of his remuneration: a severance bonus of 12.5 million euros, an annual retreat of 2.1 million euros of capital gains on stock option of 124 million euros.

According to the site of the expansion, the Franco-American investor Guy Wyser-Pratte wants to reorganize the governance of Lagard?re, he wants to evolve into a limited company.