News – Business & Economi

The Scientific Council of indices for the Paris Stock Exchange has decided to withdraw Dexia and Lagardère CAC 40, which will be replaced by Natixis and Publicis, NYSE Euronext said Friday.

Dexia and Lagardere will be included in the index Next20, ante ACC with Edenred and Rhodia, while Atos Origin and Land Regions are withdrawn over Natixis and Publicis.

These decisions will take effect from the trading session of September 20, 2010, said Euronext, which manages the Paris, Brussels, Amsterdam and Lisbon, and the New York Stock Exchange now payday loans.

The Scientific Council of indices for the Paris Bourse meets four times a year.It decides the composition of indices taking into account market capitalization, volume and weight of the share float of securities.

Five values also incorporate the SBF 120 – Bull, Faiveley Transport, Medica, Ruby and Sequana, while six are removed – Beneteau, Bonduelle, French Cement, Euler Hermes, Sperian Protection and Vilmorin.

The Chinese authorities have ordered several public companies to explore investment banks with different options to impede the bid for 30 billion euros of BHP Billiton Potash, it was learned from informed sources directly file.

Following these instructions, the chemicals group Sinochem has held meetings with several banks which include Citigroup, HSBC and Morgan Stanley, said the source.

One option being considered is an alliance between Sinochem and the sovereign wealth fund CIC, said a second source familiar with the matter.

The instructions given by Beijing, which demonstrates that the Chinese authorities take seriously the hypothesis of a takeover by BHP and Potash its possible implications on the price and supply of fertilizer, despite obstacles that would surely meet a cons-offer.

Sinochem has declined comment. CIC could not be reached immediately. The banks mentioned were refused comment.

The sources spoke on condition of anonymity because they are not authorized to speak publicly on the matter.

The decline in unemployment for the second consecutive quarter to hope that France moved into a sustained decrease, said Thursday Economy Minister Christine Lagarde.

The unemployment rate as defined in International Labour Office has declined to 9.3% and 9.7% in France with overseas in the second quarter against 9.5% and 9.9% in the first, announced Thursday INSEE.

"This is good news, especially now that a new repeating itself," said Christine Lagarde told Reuters.

"When is two consecutive quarters, there is reason to believe that not only stabilized but unemployment is perhaps past the right side of stabilization.People come, hopefully in permanently reducing unemployment. "

In a previous interview after the announcement of a decline in the number of jobseekers in Class A in July, 25 August Christine Lagarde had referred to "stabilize" trend that is becoming.

Asked to say at what level of growth in France was able to create lasting jobs, the economy minister said: "It is almost certain it was only 2% of net job creation sustainable, but look at the current period, to 1.4% pace of growth was the net creation of jobs.

"The French economy has created about 60.000 new jobs since the beginning of 2010 when it evolves at a rate of 1.4 to 1.5% growth, so somewhere between 1.5% and 2%, the French economy created jobs .

"What is important is that we can maintain this trend of declining unemployment and net creation of jobs," she added.

The government forecasts economic growth of 1.4% this year and 2.0% in 2011.

Camaieu reported Monday a net profit increase of 4.8% in the first half of 2010 to 379,000,000 euros, through improving its margins helped offset sales penalized by a late start balances summer.

The French distributor of ready-to-wear said it had an operating profit up 12.4% over the first six months of the year, to 54.3 million euros.

Its sales have in turn increased 9% to 379.2 million euros.

In its statement, however, stressed that Camaïeu same perimeter and exchange rates, turnover fell 3.9%.

"Business was badly affected by the summer sales period was extended by one week in July rather than June, but was offset by improved margins on sales," said Camaieu .

The group also said to have opened 39 stores since the beginning of the year, bringing its fleet to 894 stores including 342 abroad.

At the Paris Bourse, the action Camaïeu closed Monday at 158.48 euros, up 5.65%.

The World Cup effect past the French household consumption of manufactured goods fell 1.4% in June and fell 0.9% on the entire second quarter, posting INSEE.

The disappointing figures, well below expectations, suggest a decrease in consumption of all households in the second quarter, including services and supply, which would be a first for two years.

Twenty-three economists polled by Reuters predicted an average increase of 0.2% in June, with estimates ranging from -1.8% to +1.0%.Initially announced at 0.7%, May's increase was revised to 0.6% after a decline of -1.4% in April.

Since the beginning of the year, spending on manufactured goods have registered only two months of increases in March and May The decrease of 0.9% over the entire second quarter followed a 1.9% decline in first.

"The consumer was dynamic in the last quarter of 2009 was considerably weakened when it has always been the mainstay of the business in France.It is a real concern, "said Dominique Barbet, economist at BNP Paribas.

In June, it is the consumer electronics and clothing that have seen their sales drop, taking over auto sales down sharply in early years after the decline of the "scrappage".

After a jump of 6.4% in May, largely due to purchases of televisions before the World Cup in South Africa, the post of home furnishings fell 3.6% in June, biggest drop since November 2002.

For the sole property of consumer electronics, the decline was 3.7% after a surge of 12.4% in May

DROP IN THE CAR Dyked

Spending on textiles and leather have in turn fell 5.0% in anticipation of summer sales that began June 30, five days later than in 2009, but this schedule gives hope for a rebound in July.

For the quarter, the home furnishings rose 3.0% but textiles and leather down 2.8%.

The decline in car sales for its part was contained in June (0.0% after -0.3% in May and -9.2% in April) but the decline reached 8.4% in the quarter, after already a fall of 11.5% in the first quarter.

The 0.9% decline in spending on manufactured goods in the second quarter fears of a decline in overall consumption, for the first time since the second quarter of 2008 when it fell by 0.1%, said Dominique Barbet.

Purchases of manufactured goods account for about one quarter of total household consumption of goods and services, which is much less volatile statistics and published quarterly in the national accounts framework.

In the first quarter, it had stagnated (0.0%), lower than 1.9% of purchases of manufactured goods was offset by an increase in individual consumption of energy.

INSEE, in his memo on the economy published in June, sees yet remain stalled in the second quarter before a rise of 0.3% in the next two quarters.

"The stabilization of consumer sentiment was announced yesterday is quite encouraging, but the outlook remains weak and not with this level of consumption we can expect 1.5% or 2.0% growth," observes the economist of BNP Paribas.

"Household consumption in manufactured goods grows with a horizontal trend since the first half of 2007, although movements in the car drove the second half of 2009," said Philippe Waechter, director of economic research at Natixis Asset Management.

"In relation to a consumer confidence still low, reflecting concerns about jobs and taxes, we can not imagine a rebound coming and it will penalize significantly the growth momentum in the second half."

Orpea announced Wednesday an increase of 16.3% of its turnover in the first half and confirmed its full-year 2012.

The manager of nursing homes and clinics completed a first half sales of 470 million euros, representing organic growth of 9.3%.

The group has enjoyed a growth of 17.2% in France, which represents the bulk of its sales.

"Orpea confirms with great serenity, its sales targets for the current year and for 2011 and 2012, respectively 960 million, 1.100 million and 1.225 million euros," says in a statement.

In the second quarter alone, sales rose 16.5%, giving an organic growth of 9.1%.

For the second half, the group, which had in March 28.073 beds, expects the opening of many schools.

The shares closed Tuesday at 31.2150 euros, giving a market capitalization of about $ 1.2 billion.

Industrial production in France has strongly rebounded in May, rising 1.7% after falling 0.5% the previous month, according to data CVS-CJO published by INSEE.

Twenty-two economists polled by Reuters had expected an average growth of 0.4% of overall industrial production in May, with estimates ranging from 0.0% to 0.9%.

The April figure was revised to -0.5% -0.3% instead announced a month ago.

Manufacturing output, that is to say, outside energy but with food included, rose 0.5% in May after a revised rise of 0.3% (+0.4% in the first estimate) the month precedent.

The Paris Bourse is rising again on Friday after losing 3% yesterday, in expectation of monthly U.S. employment in the afternoon.

Around 9:15 am, the CAC 40 advanced 0.32% to 3350.67 points.

For its first meeting at the Paris Bourse, Edenred sign the largest increase of ACC (which will be removed Monday) and climbed 17.54% to 13.40 euros. For its part, accuses Accor the largest decline and yields 2.74%.

The bank bounce after being battered again yesterday. BNP Paribas wins 1.3%. The group announced Thursday a partnership with BPCE in consumer credit. Societe Generale gained 0.78%, 0.84% and Dexia Crédit Agricole 0.43%.

Sanofi-Aventis lost 0.52%.The group has refused to comment on reports that he would prepare an acquisition in the United States of at least 20 billion dollars.

Other major European markets also rebounded, London and Frankfurt gained 0.37% 0.42%. As for the European indices, the EuroStoxx 50 advance 0.49% and 0.36% Eurofirst 300.

The euro remains stable against the U.S. dollar resumed after about three cents a day and is trading around 1.252 against the dollar.

U.S. light crude oil was unchanged after its withdrawal on Thursday and is treated slightly above $ 73 a barrel.

Like the European stock markets, Wall Street fell heavily on Tuesday because of a resurgence of fears about the budgetary problems of the eurozone when approaching an important deadline that expects European banks Thursday.

In this concern, which brought down the S & P 500 in a session low of 2010 has added the announcement of the sharp drop in U.S. consumer confidence, a statistic that raises questions about the strength of the recovery U.S. economy.

The Dow Jones 30 industrials surrendered 2.65% or 268.22 points to 9870.30. The S & P 500 is broader, lost 33.33 points, or -3.10%, to 1041.24.The Nasdaq Composite fell on its side of 85.47 points (-3.85%) to 2135.18.

This is the first time since June 9 as the Dow and the Nasdaq finished respectively in the 10,000 and under the 2,200 points while the S & P 500 closed at lowest close since the beginning of the year.

Speakers also noted that the S & P 500 broke through the key threshold 1040.78, which until now was the previous low of 2010, thus raising concerns of a further decline of this index in the short and medium term.

The stock market decline began in Asia, has increased in Europe and has also hit Wall Street, where the financial and industrial stocks were the hardest hit.

The CBOE Volatility Index, also known as "index of fear" has surged 17.69% to 34.13, its highest level since early June

Investors have questioned the soundness of the European banking system before a return of 442 billion euros that banks should proceed with the European Central Bank on Thursday.

U.S. consumer confidence as measured by the index of the employers' organization Conference Board, sank in June after three consecutive months of increases, due to concerns related to employment.

Another sign of concern, the Conference Board has revised downward its leading indicator for China in April: it is up more than 0.3% against 1.7% previously announced.

"Investors are holed up in hiding at the slightest problem. This is not a good sign. They are not being spent – there is no fluidity in the movement of money," said Joe Saluzzi, co-director of trading at Themis Trading.

The KBW banking index plunged 4.43%, with JP Morgan Chase yielding 3.84% to 37.06 dollars, Bank of America 4.4% to 14.57 dollars and Wells Fargo 4.07% at 25 $ 93.

Among the heavy industry, Boeing has lost 6.33% to 63.04 dollars, Caterpillar 5.51% to 60.85 dollars.

The effort to reduce tax loopholes, covering five billion euros for the period 2011-2013, may be increased to 8.5 billion euros if the situation requires it, said François Fillon.

At a press conference, the Prime Minister said that "further efforts" would be decided by the government if growth is below its forecast.

The government expects 1.4% growth in gross domestic product (GDP) in 2010 and 2.5% in 2011.

It is too early to consider amending the forecast "for 2011, said Francois Fillon, but stressed that" a rebound "often followed a crisis.