The Dow Jones Industrial 30 yielded 0.26%, or 33.45 points, to 12,598.55. The S & P-500, wider, lost 5.86 points, or 0.44%, to 1324.80. The Nasdaq Composite fell on its side of 19.72 points (-0.68%) to 2,874.04.

Although Germany has tried to calm things down on Greece, saying she wanted to stabilize the country in the eurozone, the European Central Bank (ECB) has renewed concerns in said to have ceased to provide liquidity to certain Greek banks due to their under-capitalization.

The Greek authorities have in turn reported massive withdrawals made by the citizens of their bank accounts because of economic and political uncertainties. 

The questions about the future of Greece and possible implications for the euro area a country's output of the Economic and Monetary Union weighed on equity markets in recent weeks, with an S & P 500 has lost some 5.5% since late March.

The fact that, according to the minutes of its last meeting of the Monetary Policy Committee, the Federal Reserve remains open to new measures to support the economy has little impact on sentiment of market participants.

These have not benefited from more macroeconomic indicators rather positive, with one hand a higher-than-expected housing starts in April and the other , a stronger than expected rebound in industrial production. 

As for values, General Electric took 3.268% to 19.00 dollars after the division of financial conglomerate has received permission to resume the transfer of part of its profits to its parent.

GE Capital provides and to pay a special dividend of $ 4.5 billion in General Electric during the year.

The title J.C. Penney has plunged 19.72% to 26.75 dollars, its biggest daily drop in percentage terms since 1987, a day after the distributor has suspended payment of a dividend and announced results showing that its transformation implementation has more impact than expected on its activity.

Also in the distribution sector, the title has pros Target 0.44% to 55.32 dollars after the group specialized in low-cost stores raised its annual forecast .

Facebook will increase by almost a quarter the size of its IPO and could now raise up to $ 16 billion (12.6 billion euros), the strong investor demand obscuring the dice ; beats on long-term profitability of the social network.

The CAC 40 index, which had ended with a gain of 2.29% Tuesday, ended up 2.02% to 3233.46 points.

The Frankfurt Stock Exchange rose 1.73%, that of Madrid by 1.7% while the London market (0.16%) suffered from the recession back to the UK economy .

In this context, cyclicals and financials were particularly popular, pan-European Stoxx index of bank earning 1.86% in the provisional closure and the auto 3 , 05%, fastest growing sector in Europe.

"We need to cut unnecessary costs, streamline the sectors that do not work well, because if we do not, we can not guarantee the viability of the system," said Minister of Economy, Luis de Guindos, invited the SER radio.

The government of Mariano Rajoy last week presented a draft budget for 2012 includes € 27 billion reduction in public spending as part of a reorganization plan intended to bring the public deficit to 5.3% of GDP against 8.5% last year.

Expected savings on health and education in addition to this effort. 

The Spanish health system, shared between central government and executives of the 17 autonomous regions, is a debt of 15 billion euros.

According to Luis de Guindos, one of the lines of inquiry could focus on free public health services offered to the Spaniards, whatever their income.

"We need to open the debate, both within the central government in the regions, on whether health should be free for someone earning 100,000 euros (per year)", said the minister. 

In terms of education, Spanish media report that the government would consider a lower number of teachers, that would offset an increase in the number of students per class , and higher tuition fees in universities.

The Popular Party (PP) Mariano Rajoy, who has an absolute majority in Parliament, also controls eleven of the 17 autonomous regions.

The remuneration of top managers in the U.S. rose 1.4% in 2011 against an increase of 11% in 2010, according to partial results of a study released Monday by the Wall Street Journal. "Despite a sizeable increase in earnings and business income, earnings of 65 bosses in office for at least two years rose by only 1.4%" in 2011, says the U.S. daily.

The Wall Street Journal explains the stagnation in the bond of increasingly close relationship between compensation and employers' business performance, because of the "monitoring" of shareholders and the "pressure" the Securities and Exchange Commission (SEC ). The SEC, the U.S. federal agency to regulate financial markets, calls for "more details" on how companies pay their executives, which complicates the payment of bonuses by adjusting in-year objectives, explains daily.

The partial study, conducted by management consulting firm Hay Group, based at the moment of 75 U.S. companies, whose net income grew 17% in 2011. The full study, which involves 300 companies, will be published "later this spring," announces the Wall Street Journal. According to preliminary results, the median earnings of bosses is 9.4 million in 2011, against $ 9.3 million according to comprehensive study of 2010.

The remuneration of the boss of Apple, Tim Cook, is estimated at $ 378 million in 2011. That of the boss of media group Viacom, Philippe Dauman, who dominated the rankings in 2010 with a salary estimated at $ 84.3 million, is 42 million in 2011.

For the past year, Exonhit reduced its loss to 7.1 million euros, against a loss of 7.7 million in 2010, and indicated that on 31 December 2011, his strated ; Flow was $ 12.9 million, giving it about 24 months of cash.

She also announced today have repaid all its long-term debt.

Turnover dropped to 5 million euros last year, against 8.4 million a year earlier. 

The company claims to have achieved savings in 2011 of two million euros in a full year after abandoning a planned acquisition and cut expenses on clinical Aclarus DX, the blood test of Alzheimer's disease.

Present equally in the market for drugs for neurodegenerative diseases and the diagnosis, Exonhit gives no numerical targets for 2012 merely say "more than ever" confident in achieving its prospects.

"The year 2012 will Exonhit to that of expanding our portfolio of diagnostic products, its own or in collaboration, while maintaining a solid financial structure," said the pre Chairman of the Executive Loïc Maurel, said in the statement of results. 

At 11:10, the action Exonhit lost 9.36% to 1.84 euros in large volumes, showing a market capitalization of 62.78 million euros. At this price level, the title was up 73.6% since the beginning of the year, after a loss of 48.29% last year.

At Bryan Garnier, Sebastien Malafosse the analyst points out that the market "expects a start-up Exonhit as it invests in its future development rather than focus on reducing of its cost structure ".

The views of the steps taken in 2011, he continues, "the road is still long for Exonhit and maturity of 24 months of cash could happen quickly."

With other analysts, however, it notes that the action has Exonhit, like those of other biotechs, gained much ground in recent sessions, so the decline of this morning can also be explained by profit taking.

The world's number one steel explained his decision by the depressed construction market in Western Europe, which are for products Schifflange, and said he could see no sign of significant improvement since the crisis that hit the area at the end of 2008.

Schifflange site specializes in the production of long carbon steel.

French President Nicolas Sarkozy announced earlier this month that ArcelorMittal would restart a blast furnace of its French site Florange (Moselle). But the group had then stated that it would be restarted in case of economic recovery.

A central works council (EAC) on the alliance is scheduled for April 5, said his side the CFDT. It will follow a meeting of the European group committee of PSA scheduled for 23 March.

"Union representatives French, German and English PSA / OPEL / VAUXHALL exchanged Thursday, March 15 during a conference call coordinated by the EMF (European Federation of Metallurgy). They decided the establishment of a European cooperation and a meeting in Brussels liaison committees of the two groups, under the auspices of the GEF, in April " , said in a statement

. FO PSA and General Motors have announced a strategic alliance in February through the pooling of their purchases and preparing a common platform by 2016

. Both ensure that the alliance has no impact on the issue of overcapacity of the European two groups, that they should be treated separately. But unions are questioning the social and industrial benefits of the project as PSA and Opel ranges were very similar cars.

Together, they produce cars and light trucks in 20 plants in Europe, including 16 in Western Europe: France, Spain, Portugal and Italy next PSA, and Great Britain, Spain and Germany Opel side.

GM and the German trade union IG Metall to have an agreement excluding any job cuts on German soil until 2014.

The European group committee of PSA was originally scheduled for this Friday, but the meeting between unions and management has been postponed due to the absence of the Chief Executive Philippe Varin. 

Representatives of the management of PSA are currently "road show" to provide investors the capital increase of one billion euros to finance planned investments as part of alliance, after which GM will become the second largest shareholder with PSA 7% stake behind the Peugeot family. The capital increase, opened on March 8, runs until next Wednesday.

The German central bank considered it prudent to increase reserves while increasing concerns about the bill that the issuing institutions in the euro zone will have to pay under rescue the European banking system.

The ECB has helped to avoid a credit crunch by injecting in the space of two months 1,000 billion euros in the area banks, through loans and rates 3 years reduced, and by relaxing its criteria for acceptance of collateral. 

The chairman of the Buba Jens Weidmann said he was concerned about the risks to the balance sheet of the ECB and national central banks of the Eurosystem, arguing that risk-taking should be lowered e, for instance by raising the quality of the collateral required for banks wishing to finance with the ECB.

But even if the Bundesbank's balance sheet reflects this concern, Jens Weidmann did not call for an immediate withdrawal of bank support.

"But that does not mean that all measures of crises must be lifted immediately, rather, it means that we, as a central bank, thinking against their abil re to organize the withdrawal of these measures."

One who is also a member of the Governing Council of the ECB played down his differences with the president of the institution in Frankfurt Mario Draghi in monetary policy. He stressed that he did not feel isolated within the council and had a good working relationship with the Italian

. "I do not feel isolated in the Governing Council of the ECB because I see that the arguments that I or others put forward are discussed "said Jens Weidmann at a press conference on the occasion of the presentation of annual results of the Buba

…. ….. He added that there was no predefined camps at voting time on the board. Last week, Mario Draghi also said that the Bundesbank was not isolated within the ECB.

The benefit of the Buba fell to 643 million euros in 2011, against 2.2 billion euros in 2010, due to an increase of 4.1 billion euros of provisions related to credit risk, foreign exchange, gold and other prices, against an increase of 1.6 billion euros the previous year.

"The main reason for the decrease in earnings is higher provisions for risk," said its president.

"The counterparty risk in repurchase program bonds and refinancing operations rose perceptibly due to higher volumes and the high degree of risk," added ; Jens Weidmann.

After three sessions of declines, the Nikkei index is back above the 9,700 point mark, gaining 192.90 points to 9,768.96 and the Topix broader, took 13.45 Points (1.63%) to 836.16.

The trend was also supported by a Wall Street Journal suggesting that the Fed is considering a new approach to bond buybacks.

Values, the technology has benefited from a presentation by Apple's new version of its iPad tablet.

Toshiba took 1.77% and 4.1% Electronics Renesas.

The unemployment rate in France rose by 0.1 points in the fourth quarter 2011 compared to the previous quarter to 9.4% of the workforce (9.8% overseas departments included), announced the INSEE Thursday. This rate, calculated according to the standards of the International Labour Office (ILO), was also up 0.1 points versus the fourth quarter of 2010, INSEE said.

In France, 2,678,000 people were unemployed on average in the fourth quarter. But in total, 3.4 million people were unemployed and wanted to still work, or not available for this within two weeks and looking for work or not. This is the third consecutive increase, after the unemployment rate in the third quarter (9.3%) and second quarter 2011 (9.1%).

Labour Minister Xavier Bertrand noted but noted that "France has fared better than its main partners to the global crisis" between the second quarter 2007 and third quarter of 2011, citing OECD data. Unemployment among 15-24 year olds, great concern of the government, rose by 0.8 point compared to the previous quarter and by 0.2 percent yoy. The youth unemployment rate rises from 21.6% to 22.4%, or about 626,000 people.

Involuntary part-time increases

The unemployment rate for seniors is improving slightly on the contrary, down 0.1 points from the previous quarter. It remains up (0.2 pt) to the last quarter of 2010. Some 485,000 people aged over 50 were looking for a job in the last quarter of 2011. The employment rate of older, more and more likely to stay in business with the successive reforms of pensions, continued to grow (a point on the previous quarter, 1.6 points over one year). The increase was pronounced for those aged 55-64 (1.4 pt in the quarter, 2.8 points over one year).

The employment rate in permanent contract (CDI) is stable in the fourth quarter of 2011, to 48.7% of the population aged 15-64. Rate for those employed in CDD / Acting rose slightly and stood at 6.8%. Partial unemployment, the government and social partners come to reform to facilitate its implementation, down 0.3 percentage points and stood at 0.2% of employed persons. Involuntary part-time increased slightly to 5% of people with jobs. Finally, the unemployment rate is declining in women (-0.1 pt the quarter, -0.3 pt yoy) as he progresses on the contrary men (0.4 pt the quarter , 0.6 pt yoy).