Sundial of world news

Moody's has raised the spiral of fear by breaking down Tuesday night, three notches note the country of Silvio Berlusconi. Of course the capital of French banks are not sufficient to withstand the collapse of the third global bond market. But no one could. Want to increase bank capital to absorb that risk, it would be like worrying about the thickness of sandbags protecting a barricade when a nuclear explosion threat.

Beings consanguineous

Wait and bite the bullet. It is the only rational response. The pressure is so strong, however, that the government is trying to sweep these arguments make sense to force the banks to recapitalize. Why not finally, if that would reassure everyone and restored the flow in a system where banks no longer find lenders? Even better if it is a coordinated European action.But then, the market experts themselves have good problem turning in all directions for days: there is no guarantee that this would be enough to calm the speculation.

The crisis of today has nothing to do with that of 2008, when the suspicion was limited to the health of financial institutions. This time, banks are just the scapegoats for a crisis of confidence is most striking over-indebted States. Banks and States are beings inbred. Once recapitalized banks will continue to be viewed askance because of their exhibits sovereign will continue to suffer from higher funding costs because of concerns about their country, continue to be threatened by a rise in questionable provisions as the economy is sinking. It will probably recapitalize banks. But there is only one cartridge.Better not pull too early, when there are still many uncertainties elsewhere.

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Asia has finally been convinced by the rebound experienced by stock markets Monday in Europe and the United States. Shortly before 7 am (Paris time), and the Nikkei 225 gained 1.80% to 8524.16 points. The Hang Seng of Hong Kong Stock Exchange rose by its side of 2.81% to 2427.92 points. In Shanghai, the CSI 300 advances from 0.32% to 2619.27 points while the Kospi index in Seoul gained 3.44% to 1709.61 points. The day before, the Asian stock markets remained anchored in the red.

After heavy losses last week, investors marked a pause in fact, driven by renewed optimism about the debt crisis in the eurozone. Europe, for the voice of the spokesman for the European Commissioner for Economic Affairs, Olli Rehn, in fact, shows its commitment to strengthen the capacity of the relief funds in the euro area (EFSF).

Tokyo ready to buy bonds EFSF

The Japanese government has also indicated a willingness to buy more bonds relief fund if the European authorities in the euro area establish a mechanism to calm markets. "If a plan is launched to ease tensions in financial markets by helping Greece, I do not exclude that Japan is participating," said Tuesday the Japanese Minister of Finance, Jun Azumi. Japan already suffers from the crisis in Europe: the yen peaked against the euro, hurting Japanese exporters values. Monday, the European currency reached its lowest level since June 2001, at 102.18 yen. It is worth 103.28 yen Tuesday morning.

In terms of raw materials, oil falls sharply higher after having dropped more than eight dollars last week.A barrel of "light sweet crude" for delivery in November gained 1.15 dollars to 81.39 dollars in early electronic trading, having closed up 39 cents Monday. A barrel of Brent North Sea crude for November delivery, which ended virtually unchanged Monday (-3 cents), advances, meanwhile, 95 cents to 104.89 dollars.

The Paris Bourse has continued to widen its losses on Friday. After an opening down 1.19%, the CAC 40 slipped 3.5% in response to the publication of U.S. employment figures earlier this afternoon. Then the index was down enccore in the red, losing up to 4% just before 17 hours. Finally, the CAC shows a significant decrease of 3.59% to 3148.53 points. No value of CAC has been able to climb into the green on Friday. For the week, however, the Cac 40 shows a gain of 1.97%.

Elsewhere in Europe, the Milan Stock Exchange closed on a fall of 3.89%. In Frankfurt, the Dax lost 3.36% at the final bell and the FTSE in London fell by 2.34%.The European indexes have been sealed by banking stocks, which still suffer from concerns over European debt, including the stalled talks in Greece.

Thus, investors have been cooled by zero job creation in August in the United States. In July, the first estimate of recruitment was greatly scaled down from 117,000 jobs created to 85,000. The unemployment rate remained steady at 9.1%, as expected. "The labor market is expected to remain sluggish in the medium term and the unemployment rate should rise slightly or remain at its current high level" of 9.1%, says Inna Mufteeva at Natixis.This publication reinforces the eyes of experts, the probability of a new monetary response from the U.S. Federal Reserve at its next meeting on September 20 and 21.

In addition to the waits before publication of the report, traders were disappointed by yesterday's U.S. indexes mixed. The weekly jobless claims have fallen and certainly the contraction was avoided in the manufacturing sector, but construction costs and productivity plummeted. In addition, the White House confirmed the pessimism about the weakness of the recovery across the Atlantic in scaling back its growth forecasts.

Euro stable

On the foreign exchange market, around 17:30, the euro 1.4207 dollars, against 1.4260 on Thursday, its lowest level in three weeks.Yesterday, the euro had fallen sharply under the impact of renewed concerns vis-à-vis the health of the euro area, where industrial activity contracted in August, unlike the United States.

In France, higher energy costs caused a 0.5% increase in producer prices in July in the euro area, as expected, but overall inflationary pressures subside to the extent that the area economy patina.

The bank collapse

Fear seizes even Greek European banks. The establishment of a second aid plan seems to be complicated. The troika of creditors of Greece left Athens Friday, giving the government 10 days to advance structural reforms in the country, weighed down by a recession that will prevent it from holding its budget savings target.In Paris, Crédit Agricole fell 7.38% to 6.65% Societe Generale, BNP Paribas and Axa of 6.24% to 5.73%.

Arcelor-Mittal: -6.10% to 14.17 euros

The group plans to resort to short in the fourth quarter at its plant in Florange (Moselle), and will ask 600 of the 3,000 employees of the plant to take RTT in September, officials said Thursday a union source

Total: -2.69% to 33.40 euros

The oil will extend all over France its network of service stations at low prices, after tests conducted last year in dozens of outlets, according to Les Echos.

France Telecom: -2.37% to 13.17 euros

The operator has received numerous expressions of interest for its Swiss division, told Reuters CEO Stéphane Richard, noting that financial market volatility would not affect projects sales of assets of the group.

Bouygues: -2.14% to 25.61 euros

The Standard & Poor's announced that it placed the long-term rating of A-group under review with negative implications following the announcement by him of a proposed acquisition of securities.

Sanofi: -3.25% to 49.75 euros

The group confirmed Thursday it has reached an agreement with Pfizer to produce in France generic versions of Lipitor, the cholesterol featuring the American group.

EDF: -3.23% to 20.95 euros

Goldman Sachs has revised down its price target on the title, which goes from 49 to 31 euros, while remaining on the purchase value.

Carrefour: -2.83% to 17.66 euros

HSBC lowered its recommendation to "overweight" to "neutral" and target price of 30.50 to 20 euros.

Stallergenes: – 0.81% to 49 euros

The laboratory of immuno-allergic Thursday announced a net profit up 18% in the first half to 23.7 million euros, benefiting from the "business growth" and a "moderate increase spending research and development. " In the process, Oddo is to reduce its recommendation to neutral.

Safran – 2.77% to 27.05 euros, Suez Environnement: -4.23% to 11.09 euros

Saffron is the best candidate for an entry in the CAC 40, while Suez Environnement, whose price has fallen heavily since the beginning of the summer, should come out, say professionals in the Paris Bourse.

Nyse Euronext – 1.93% to 18.56 euros

The London Stock Exchange has confirmed a press report that it is discussing a possible settlement with LCH.Clearnet.Discussions are at a preliminary stage and there is no guarantee that it would, he said.

Neopost: + 10.39% to 56.30 euros

The group raised its forecast of annual sales for the second time, following an accelerated growth in the second quarter, thanks to the dynamics of North America.

At the close of the New York Stock Exchange, the Dow Jones advance of 0.46% to 11,613.53 points and the Standard & Poor's 500 and Nasdaq 100 rise respectively from 0.49% to 1218.89 points and 0 , 13% to 2579.46 points. Just before the final gong, U.S. markets rallied after going into the red, a sign of anxiety that prevails again.

Still, U.S. investors were reassured yesterday evening, the tone of "minutes" of the last monetary policy committee of the Fed. This report has indeed confirmed that the U.S. central bank did not rule to use new tools of monetary easing to support growth ever more threatened. A perspective that also prompted the European markets to rebound on Wednesday morning, when he had closed the previous day on a mixed note.Also in the interests of peace, the United States, President Barack Obama said on Tuesday that the U.S. economy had a "heart attack" she was recovering at a slow pace as he prepares to unveil a new stimulus package.

On August, the Dow Jones drops 4.4%, its worst performance since May 2010.

The employment figures highly anticipated

The indices have reacted rather well to a series of indices published this afternoon.

The private sector in the United States slowed its hiring in August, creating 91,000 jobs over the month, less than expected by analysts, according to figures released Wednesday by consulting firm HR ADP.These new jobs, slightly lower than in July (109,000, revised), are lower than analysts' forecasts, which projected 100,000.

Orders for the industry rose 2.4% in July in the United States, more than expected, driven upward by the strength of the transport sector, said Wednesday the Commerce Department. Economists on average had expected a rebound 1.9% after falling 0.4% (revised from -0.8%) the previous month.

However, the index of purchasing managers in the Chicago area fell in August, slightly less than expected, while falling to the lowest since November 2009. The index published on Wednesday in August falls to 56.5 against 58.8 in July and a consensus on giving 53.5.

On the corporate side, the American phone AT & T (-3.92% to 28.46 dollars) fall while the U.S. Justice Department will oppose the proposed acquisition by AT & T, currently number two in the phone Mobile USA. Even if the group is committed Wednesday to repatriate to the United States currently filled 5,000 jobs in its call centers overseas, where green light to the acquisition challenged T-Mobile, the subsidiary U.S. Deutsche Telekom.These employees will be "well paid", assured the group in a statement, recalling that he was the only major U.S. telecom operators to accept unions in its stores.

Bank of America (086% to 8.18 dollars) is about to further reduce its scope of activity in the mortgage, by stopping the sale of mortgage loans through independent agents, said Wednesday the Wall Street Journal, citing people familiar with the matter.

Hewlett-Packard (-0.08% to 26.03 dollars) will temporarily restart production of its TouchPad Tablet, whose sales soared since the U.S. computer giant announced mid-August that he would cease to manufacture. HP announced on August 18 a sudden change in its strategy, through the cessation of production of its new tablet and its smartphones using the operating system of Palm webOS.HP also plans to separate its activities from production computers to refocus on software.

Outside the coffee dock, near the Gare de l'Est in Paris, the formula breakfast at 7 euros. At this rate, you are entitled to two slices of bread, a croissant or pain au chocolat, orange juice and a hot drink. Marcel Bénezet not sell a dozen a day, when he easily achieves 80 seats daily.

"In France, the breakfast is just 2% of sales of cafés, bars and eateries, says the owner of the establishment, also president of cafes, bars and brasseries in the union Synhorcat. But for one short year, the market moves a little. We draw some of the clientele of hotels.More and more business appointments are also around a working breakfast between 8 o'clock and 10 o'clock. "

"Not very profitable"

Praised by business travelers, the Plaza Athénée, a Parisian palace, carries 3 million in sales a year with his breakfast, including 1.6 million in the dining room of Alain Ducasse, where 60% of the clientele has not spent the night at the hotel. A single espresso is charged 8 euros. "The average price is 50 euros per person. All patrons of the CAC 40 are there, welcomes François Delahaye, the owner of the Plaza Athénée. Breakfast loyalty. But it is not very profitable, because payroll costs as much as we noon, when the bill is four times lower. "

Breakfast remains a difficult market for restaurateurs.The French are indeed more likely to take home the Anglo-Saxons, and they have less appetite.

McDonald's France, the breakfast is less than 1% of sales. "Unlike the British, Germans and Dutch, the French are not ready to leave in the morning for their breakfast, says Isabelle Kuster, Vice President of Operations in France and Southern Europe at McDonald's. Many are content with a coffee and stay hungry until noon.To attract them, we must offer them what they prefer: an espresso and toast. "As a result, McDonald's, which sells its formula with American breakfast (pancakes and Egg McMuffin) than 250 McDonald's where the demand warrants, innovates by launching September 26th in its 130 McCafe an offer adapted to the habits of the French, with small black and baguette spread with butter and jam.

"France is the only country where the espresso and croissants topped sales in the morning," insists a spokesman for Starbucks. The American chain attracts a customer in France to 60% and 40% of local tourists. In the morning, only 30% of customers use their on-site order. "But in France, we carry a large portion of our sales between 8 am and noon, when the Germans and Spaniards are more in the afternoon," said the spokesman for Starbucks.

Treasury bills do not suffer from degradation of the note of the United States. Instead, rates remain historically low. U.S. finances are parties to drift, but investors have long known, and such a decision undermines their confidence in the ability of the United States to meet its repayments. "On the contrary, the threat of similar actions in other states has positive points: it encourages the ECB to carry more debt buyer of European public and invites States to precipitate the budgetary consolidation measures, which will strengthen intrinsic quality of government securities, "relativize Patrick Artus, Research Director of Studies and Natixis.

In fact, it is especially risky assets, which suffer from fears of contagion cuts ratings of sovereign debt.Evidenced by the plummeting global stock indexes following the shock announcement Standard & Poor's. Over the past five trading days, the Cac 40 lost almost 8%, and the index companies were affected differently. These are "primarily growth stocks" that have suffered the most, says Patrick Artus, "since the fall of 2400 billion over ten years the U.S. deficit will cost a point of growth the first year." Over the period, it is almost 70 billion euros in market capitalization went up in smoke.The equivalent (almost) the biggest company in France, namely Total!

Veolia has collapsed and literally (almost 30%) in just five sessions, within the scope of the panic that has shaken the markets, but the fall of its course is mainly attributable to the publication last week of very disappointing results, while the group left half of the countries in which it operates payday loan lenders.

For Natixis, "convinced that U.S. growth will remain weak for some time (+1.8% in 2011 and estimated 2.1% in 2012)," the companies directly related to the U.S. economy will remain permanently affected by the stroke of Soft in the U.S..This is especially true of automotive manufacturers and suppliers (Renault, Peugeot, Michelin, etc.). And IT companies (Alcatel-Lucent, CapGemini).

However, the decline in raw materials – oil fell below 80 dollars – which led to the values ​​of the construction (Lafarge, Saint-Gobain), mining or oil (ArcelorMittal, Technip, Vallourec) down in recent sessions, "should not last," said Natixis again: "The demand for commodities does not depend on the U.S. economy, but more and more of the Chinese economy, especially investment in China whose growth is weakly linked to the U.S. cycle and will remain strong. "From that side, the markets have overreacted and clearly.

As for the bank, the reactions were very different depending on the titles, which are differently exposed to the problems of sovereign debt.Societe Generale is one that has suffered most of the bad going on equity markets (down 21.7% of its stock price), while Credit Agricole has sold 13.9%, BNP Paribas, 7, 7% and Natixis, only 2.1%. However, the European banking index, the Stoxx 600 Banks, hit late Tuesday to its lowest level in two years. But overall, the French banks face the storm better than two years ago because they have strengthened their balance sheets.

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The penalty was expected but it still sounds like a shock. In the night from Friday to Saturday, the rating agency Standard and Poor's (S & P) has dared to lower the rating for government debt of the United States, and deprived of their "AAA" for the first time in history . S & P said in a statement it had degraded to the next level this note, the best possible, to bring it to 'AA +'. It also lowered its outlook to "negative", which means that Standard and Poor's believes that the next time the note will change, it will be to be devalued again. The United States were rated "AAA" by S & P since the creation of this agency in 1941.They remain in the other two major agencies, Moody's Dean (since 1917) and Fitch Ratings.

Standard and Poor's, which had warned in April that it was considering lowering, justified its decision with "political risks" to see the country taking insufficient measures against its budget deficit. For her, the political debate on these issues is not up to the problems caused by a debt of more than 14,500 billion. "The plan for balancing the budget on which Congress and the Executive have recently agreed is insufficient compared to what, in our view, would be needed to stabilize the dynamics in the medium term public debt" said S & P, citing the law known as "control the budget" passed Tuesday.

S & P is the second rating agency to downgrade the American note, after the Chinese – less powerful – Dagong.Other – mostly American and French Moody's Fitch – are currently at Triple A.

The U.S. public debt to more than 100% of GDP

The first power of the world is, well, so sure before. The United States and joined Japan, Spain and Ireland have lost that status envied no fax payday loan. The loss of this seal of excellence is expected brutal impact on the financial markets, difficult to imagine right now. But while the financial world is upside down, the risk that markets continue to dive is high. The announcement of S & P comes in effect when the markets were closed for the weekend, closing on both sides of the Atlantic one week black.

China, by far the world's largest creditor United States, found that she had "every right now to require the United States to address their structural problems of debt."Second World holder of U.S. debt, Tokyo assured him that his confidence in the U.S. Treasury and its strategy of purchasing these bonds were unchanged. In France, the Minister of Economy Baroin reiterated his "total confidence in the strength of the U.S. economy."

Two days ago, the U.S. debt has passed a symbolic milestone. Because it exceeded the threshold of 100% of GDP, just after raising the debt ceiling by Congress. The United States saw their public finances sealed by the harsh recession that crossed their economy from late 2007 to mid-2009. Since then, economic growth has returned, but they are not able to restore the health of their public finances. According to estimates by the International Monetary Fund, they should acknowledge this year, with about 9% of GDP, the highest budget deficit of the G20 countries, except Japan.It is sixteen countries rated "AAA" by Standard and Poor's, four of the G7: Germany, Canada, France and Great Britain.

(With AFP and Reuters)

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While its main competitor, the German Linde, announced Friday a 14% increase in quarterly profit and revenue of 7.5%, Air Liquide has nothing to be ashamed: the manufacturer of industrial and medical gases Air Liquide published on Monday morning a net profit of 750 million euros (+11%), and annual sales up 9.2% to 7.1 billion euros in the first half of fiscal 2011. The revenue growth was primarily driven by developing economies, which now generate 21% of sales activity "gas services" and where growth was 28%. Revenues in the advanced economies have increased by 7% each.

After the announcement, the stock exchange, Air Liquide shares rise from 1.57% to 97.46 euros in First Prev exchanges in a market (the Cac 40) up 0.98%, driven by the agreement reached with U.S. debt.

Despite an impact of tsunami in Japan and revolts in the Arab world, the operating margin was 16.7%, up 10 basis points over one year Payday advance. Excluding the effect of changes in natural gas prices, the margin improved by 30 basis points. Air Liquide has also reduced costs by 132 million euros, while it wants to cut more than 200 million euros over the year."In this context, and in a normal environment, Air Liquide is confident in its ability to continue in 2011 the steady growth in net profit," said CEO Benoit Potier said in a statement.

A half-year performance that is part of the strategic plan for 2015 presented in December, and expects an average annual increase in sales of 8 to 10%, higher than the expected growth of the market.

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The NYSE was struggling to find a clear direction at the opening Friday, the day after net gains brought by the agreement reached in Europe on debt and as the market digested a series of results: the Dow Jones lost 0, 21% but the Nasdaq gained 0.25%. The Dow Jones Industrial Average gave 27.09 points to 12,697.32 points while the Nasdaq, dominated by technology, taking 6.98 points to 2841.41 points. The broader index S & P 500 fell by 0.04% (or 0.52 points) to 1343.28 points.

On Thursday, the New York Stock Exchange ended sharply higher Dow Jones gained 1.21% to 12,724.41 points, its highest closing level in over two months and the Nasdaq 0.72% to 2834.43 points .The broader index Standard & Poor's 500 rose 1.35% to 1343.80 points.

The announcement of a concrete agreement on the plan of aid to Greece, made shortly before the close of the U.S. market, has largely contributed to the surge in indices. In the U.S., investors remained optimistic despite the denial by a spokesman for the White House, press reports that a market was about to be reached with the Republican chairman of the House, John Boehner, to raise the debt ceiling. At 12 days of the deadline set by the Treasury, the Democratic leaders of the House of Representatives and the Senate have found for nearly two hours the president Barack Obama to the White House. The rating agency Standard & Poor's reiterated Thursday that there was a chance that two lower sovereign rating of the United States within three months.The downgrade could occur "possibly by early August" and could be "one or more notches," says the agency.

On the foreign exchange market, the overall relaxation of the Greek fire, which had once benefited the euro last Thursday, however, did not have a lasting impact on the European currency was stable against the dollar on Friday. At mid session on European markets, the euro was worth 1.4412 dollars, against 1.4417 dollars on Thursday night. In the wake of the announcement of the plan, the euro reached a peak Thursday at 1.4443 dollar. In terms of oil, oil prices start rising, supported by a European, but also by the announcement of the International Atomic Energy Agency (IEA), which has no plans to release a reserve again strategic.In morning trading, a barrel of "light sweet crude" took 28 cents to 99.41 dollars, after crossing at the meeting yesterday the 100 dollars. That of Brent North Sea took 23 cents to 117.74 dollars.

New round results

On the macroeconomic front, no major indicator is expected across the Atlantic. Investors should pay close attention to the results of the day. Starting with those of computer giant Microsoft has managed to achieve an increase of 23% of its annual net profit to 23.15 billion dollars, even though he suffered a slowdown in the IT market, felt by its flagship, Windows programs. The fourth quarter of fiscal shifted from Microsoft, completed June 30, exceeded expectations, with a 30% increase in net income to 5.87 billion billion.The turnover has meanwhile increased by 12% during the year to 69.94 billion dollars, including 17.37 billion dollars last quarter alone (8%). the title loses 1.93% to 25.87 dollars.

For its part, the U.S. manufacturer of AMD microprocessors without CEO since January, announced Thursday after the close of Wall Street have made a profit of $ 61 million in the second quarter against a loss of 43 million a year ago, to sales down 5%. The title takes off from 12.62% to 7.33 dollars.

Also note, the U.S. investment bank Goldman Sachs (0.07% to 135.67 dollars) has won a legal victory against the Australian investment fund Basis Yield Alpha Fund failed (BYAF) who accused him of have made a mistake in selling him a financial risk before the financial crisis.A New York judge has in fact refused to hear the complaint, citing a recent decision by the U.S. Supreme Court which ruled that U.S. laws on financial products do not apply to transactions made abroad.

The U.S. maker of memory cards Sandisk recorded 1.37 billion of revenue in the second quarter of this year, including 248.4 million dollars in net profits. Numbers higher than analysts' expectations. The title earns 7.73% to 44.82 dollars.

The pharmaceutical company Bristol-Myers Squibb (-0.32% to 29.46 dollars) announced Thursday that it has agreed "final" for the purchase of specialist treatments fibrosis Amira, a sum of up to 475 million. Under the agreement, BMS will acquire the entire share capital of Amira, which is not publicly traded, for $ 325 million in cash.Additional payments of up to $ 150 million could be made depending on the performance of the products currently developed by Amira.

The 3700 points were in the viewfinder of investors in the Paris Stock Exchange on Wednesday. They were exceeded in the early exchanges. At the close, the CAC shows a new gain of 1.61% to 3754.60 points. Yesterday, the Paris VAIT has already managed to recover, ending on a rise of 1.21% to 3694 points.

Other major European markets advance in unison. The London Stock Exchange was also up, the stock exchanges of Madrid and Milan are the most active with gains of 3% each. In London, the FTSE-100 index gaining 1.1% to 5853.82 points in mid-session and featuring Dax index of the Frankfurt Stock Exchange advancing 0.40% to 7221.36 points.

Operators are encouraged by the good performance of U.S. markets, driven by advances in parliamentary negotiations in the United States for raising the ceiling on the debt.President Barack Obama for the first time reported "progress" in this debate, adding that the new Senate plan, presented Tuesday, was "consistent" in its approach. The Chairman stressed however that "not much time" before the deadline of August 2 to avoid a default. Wall Street was also reassured by good indicators of industrial performance and better than expected. Asian markets were also sending positive signals this morning.

Time, however, should still be prudent on the eve of a crucial European summit for the future of the euro area. The heads of state are to meet Thursday in Brussels to discuss the bailout of Greece. Several proposals for involving the private sector are on the table.

On the currency side, the euro rose slightly against the greenback at 1.4181 dollars against 1.4150 dollars late Tuesday.Oil is, him up: a barrel of "light sweet crude" for delivery in August takes 80 cents to 98.30 dollars and that of Brent North Sea crude for September delivery gained 69 cents to 117.75 dollars .

Values ​​to follow

Havas: 2.15% 3.47% to euros

The advertising group has announced the acquisition of a majority stake in the Australian Host, the first independent agency of the country, for an undisclosed sum.

Saffron: + 4.68% to 28.99 euros

Tuesday the group received the green light from Washington for the purchase of American specialist of biometrics L-1 Identity Solutions. The agreement was announced last September for $ 1.1 billion in cash.

Edenred: -5.69% to 20.37 euros

The company specializes in prepaid service said Wednesday he was informed of an investment for 8% of its capital.Nearly 18 million shares have been placed Edenred Wednesday market at a price of 20.30 euros, a total of around 367 million euros, according to a source familiar with the matter said that the placement was the act of a U cash advance now.S. institutional.According to a source market, it is South Eastern Asset Management.

Alstom: -1.35% to 37.97 euros

The group said Wednesday sales down 12% in the first quarter of fiscal year 2011-2012, to 4.5 billion euros, reflecting the "low level of orders registered during the crisis," but a sharp rebound its order intake over the same period (+44%).

Schneider Electric: + 0.71% to 105.85 euros

The group announced an extension until August 2 of its friendly takeover of two billion dollars (1.4 billion euros) on the Spanish Telvent, which it already owns to 19 July, before the closing date of the offer, 97% of the shares.

Laurent-Perrier: unchanged at 98.89 euros

The group announced Wednesday an increase of 11.5% of its turnover in the first quarter thanks to a mix effect prices soaring and exports still strong.

Accor: + 2.75% to 30.31 euros

The group was optimistic Tuesday in announcing an acceleration of organic growth in the second quarter due to increased occupancy rates and the gradual recovery of prices.

ADP: + 2.01% to 61.92 euros

The group announced a 4.6% increase in passenger traffic at its airports in June, driven by growth across all trajectories with the exception of Africa and the Middle East.

PPR: + 1.06% to 128.85 euros

Fnac, a subsidiary of luxury group, unveiled Tuesday a five-year strategic plan, called "Fnac 2015", which should enable it to boost sales after a disappointing performance.

EADS: + 3.59% to 24.79 euros

The parent company of Airbus has won a victory with the decision of American Airlines to order 260 A320s neo cons for Boeing 200 aircraft.

Biomerieux: -0.90% to 78.89 euros

The group announced the acquisition of French company Argene Molecular Biology and confirmed the objective of growth of its business year after an increase of 3.5% of its turnover in the first half of 2011.

Sanofi: + 1.30% to 55.15 euros

The Canadian Valeant Pharmaceuticals announced yesterday the signing of an agreement to buy the French laboratory marketing rights and distribution in Canada of a cream against osteoarthritis.

Manitou: + 1.45% to 21.74 euros

The group raised its forecast Tuesday for 2011 after signing up 45% of its turnover in the first half despite the continuing difficulties of supply.

Always on the side of publications, after market, Unibail-Rodamco will present its second quarter results and Ubisoft announce its first quarter 2011-2012 revenues.