News – Business & Economi

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 U.S. markets have opened higher on Thursday, reacting positively to an unexpected improvement in the labor market in the United States.

A few minutes after the start of trading, the Dow Jones gained 0.28% to 10,087.98 points, the Standard & Poor's 500 index 0.38% to 1159.29 points and the Nasdaq Composite 2148.66 0.33% points.

The markets were reassured by a larger decline than expected enrollment in weekly unemployment in the United States during the week to August 21, at 473 000 504 000 cons last week.

As for values, Dell noted Thursday his company bid on the data storage 3PAR to 24.30 dollars per share, a superior proposal to that presented by Hewlett-Packard.The IT group has indicated that the Board of Directors 3PAR has accepted his offer.

Titles took Dell and HP respectively 0.8% and 0.75% at the opening, while the title 3PAR lost 1.9%.

Axa announced Wednesday better than expected financial results for the first half performance in line with its objective to give priority to the recovery in margins rather than the development of its turnover.

Net income for the second European group of insurance by market capitalization stood at 944 million euros, a figure well above the 623 million approached by the consensus of analysts conducted by the editor of Reuters.

"In the first half of 2010, we focused on optimizing our margins on all our business lines," said a statement from the Group CEO Henri De Castries.

If the result is displayed down 28% over the same period last year, this drop is due to the supply of 1.478 billion euros spent by the group following the sale of some of its assets in the United Kingdom.

Without this extraordinary loss, net income would increase by 81%.

The decline in operating income of 3% to 2.082 billion euros, a performance superior to 1.884 billion as planned by Reuters, while turnover has increased it from 1% to 49.925 billion euros.

The band's performance "We will strengthen our ability to rebound when the economy will become clearer," said Henri de Castries.

Axa has not commented on the offer of 11.5 billion dollars from the National Australia Bank on its subsidiary AXA Asia Pacific.

The subsidiary has announced a profit of 219.2 million Australian dollars for the first six months of the year, a figure in line with market expectations.

The offer, which clashed with the Australian authorities to the competition runs until August 31.

The title Axa lost 10.9% since the beginning of the year, while the European index DJStoxx insurance is up 3.16%.

Merck reported a quarterly results better than expected thanks to strong demand for its treatment fighting against diabetes, arthritis or AIDS.

Excluding items, profit U.S. lab amounts to 86 cents per share while analysts polled by Thomson Reuters I / B / E / S had forecast 83 cents.

In total, net income fell to 752 million or 24 cents per share.In the second quarter of 2009, it was 1.56 billion or 74 cents a share.

Merck has taken control of his compatriot Schering-Plough in November for $ 41 billion.

For the year, Merck now expects EPS of 3.29 to 3.39 dollars per share, excluding special items, a slight adjustment from its previous forecast of 3.27 to 3.41 dollars.

In pre-market, Merck was down 2.2% to 34.29 dollars.

Several large European companies have released information Thursday surprisingly positive, triggering a sudden resurgence of investor confidence after months of pessimism fueled by the debt crisis and fears of an implosion of the euro area.

With these new found reassuring, have added good indicators for the month of July: further decline in unemployment in Germany and strong growth of economic sentiment in the euro area.

Economists point out however that this resurgence in good mood after the dark days of rumors of a default by Greece and other countries in the euro area should not be forgotten that economic recovery will be gradual given the austerity measures by several governments.

Among the big names who released Thursday, Publicis third global advertising agency, has raised its expectations for 2010 after having exceeded expectations in the first half to gain the favor of budgets and increased costs to its customers.

"Publicis has strengthened during the crisis," said chief executive Maurice Levy to the press.

"We really feel at the end of the economic crisis, or even having put completely behind us," he added.

These words are not isolated.

The Dutch group Randstad specializes in the interim, number two worldwide in its sector, said he did not see any sign of relapse of the economy.Companies are hiring, he said, particularly in Germany and France.

"GROWTH AROUND"

"We are seeing growth everywhere. Even in Greece, we see a normal development. We do not observe any signs of relapse," said Reuters chief financial officer, Robert-Jan van de Kraats.

The American Manpower, which carries the majority of its sales in Europe, acted last week did not see a downturn.

In the pharmacy, the French Sanofi-Aventis posted a higher quarterly earnings expectations – after Friday lowered its target EPS for 2010.His British rival AstraZeneca has posted higher profits.

The European chemical groups that have published their quarterly accounts have emerged Thursday globally strong results in favor of volume growth.BASF, the world first chemist, reported second quarter operating earnings adjusted for exceptional almost doubled to 2.2 billion euros, exceeding the consensus that gave it to 2.03 billion.

In Switzerland, Clariant has raised its annual recovery of the industrial sector and a weaker euro has boosted demand and that allowed him to reach a net profit in the second quarter, well below the consensus, however.

The German conglomerate Siemens Electrical has released an operating profit up 40% for its third fiscal quarter thanks to cost cuts and the weaker euro.

All these new feed more optimism among investors in Europe they appear a little less convinced of the strength of economic recovery in the United States.

The team responsible for global strategy at the UBS bank, raised its recommendation on Europe to "neutral", while she advised previously underweight assets of the region.

UBS said that the Ifo business climate in Germany, a closely watched index, in July recorded its biggest increase in 20 years, growth in gross domestic product in the United Kingdom grew at a rate twice higher than expected second quarter and the results of stress tests performed on the European banks have brought relief.

At the Deutsche Bank economist Gilles Moec wants cautious.

"There is no major change in the table macroeconomic background: we started to slow growth," said he.

European banking stocks were up, supported by the results of resistance tests conducted by the European authorities to restore market confidence.

Investors, who had initially criticized the methodology of stress tests conducted by the Committee of European Banking Supervisors (CEBS), believe that exercise helps alleviate fears about the solvency of banks.

Having suffered in mid-morning on concerns about exposure of Deutsche Bank in sovereign debt, the sector index Stoxx 600 European banks is again on the rise.

Around 12:50, the index has risen by 0.41%.

The Societe Generale and ING shares rose 2.97% respectively at 39.12 euros and 3.08% to 7.1280 euros.

The Santander, the first bank capitalization in the euro area remained stable at 10.11 euros after opening up to the Madrid Stock Exchange.

"The stress tests show that the French banks and European banks in general, are more truly threatened by a solvency risk," notes Simon Willis, NCB Stockbrokers analyst financial in a research note.

"It remains for banks to find sufficient levels of profitability, long-term effort that requires strategic reviews of activity and improvements in their organization," he says.

Analysts at Credit Suisse in turn emphasize that the publication of detailed exposure to sovereign debt will enable investors to better understand the needs to recapitalize banks and credit risks in the event of default on the debt of a State.

Of the 91 banks in the European Union subject to the tests, only seven property – five Spanish, one German and one Greek – have failed and could therefore be forced to raise 3.5 billion euros of equity.

Others were successful only just like German or Italian Deutsche Postbank Monte dei Paschi di Siena.

DEUTSCHE BANK ASSENTED

French banks BNP Paribas, Societe Generale, Credit Agricole and BPCE have all passed the test of successful resistance, which allows securities to outperform their benchmark.

BNP Paribas gained 0.86% to 50.22 euros, Crédit Agricole 0.94% to 9.44 euros.

The Franco-Belgian Dexia, which has also passed the tests, scores 2.6% to 3.39 euros.

In Germany, Deutsche Bank, which also passed the tests, is punished by investors for failing detailed its exposure to sovereign debt.The title and yielded 1.24% to 49.13 euros.

The Committee of European Banking Supervisors will also ask the German banks to explain why they did not give details Friday of their holdings of sovereign debt.

In conducting these tests, CEBS and the European Union have sought to ensure that large EU banks had sufficient capital to cope with a deteriorating economy would be worse than expected and new shocks.

Learning from the Greek debt crisis, the tests also incorporated discounts on the value of certain bonds held by banks.

Syngenta has lowered its targets on Thursday and now anticipates a decline in earnings this year due to a late start planting, the result of a severe winter, and the burden of taxation.

Around 8:15 GMT, the action accused the coup losing 5.21% to 229.40 Swiss francs, while the index grouping the European chemical values yielded 0.76%.

The planting season started late in the northern hemisphere, but demand has accelerated in the second quarter, especially in emerging markets, told Reuters CEO Mike Mack.

As a result, the Swiss agribusiness group, world leader in its field, now anticipates a strong second half, with good signs for the upcoming planting season in the Southern Hemisphere he added.

"We anticipate an operating profit of about that of last year but, instead, a decrease in net profit," he said.

A continuing evolution in Latin America and Asia should make it possible to Syngenta, which also produces genetically modified seeds, to offset a 13% drop in operating profit in the first half to finish the year with operating profit unchanged said Mike Mack.

Finance costs and tax rates should weigh heavier on the net profits, also said the CEO.

Net income declined 11% to 1.25 billion dollars in the first half, while the Reuters poll gave it to 1.38 billion.

Revenues increased 1% to 6.74 billion dollars, is there a little higher than the consensus (6.69 billion).

THE EMERGING TO THE DEVELOPED

Emerging markets such as Latin America and Asia-Pacific are increasingly important for the group."That was the year Syngenta could see its sales in emerging markets than those in developed markets," added Mike Mack.

Shares of agribusiness groups have declined this year due to stiff competition from cheaper Asian products and uncertainty about the regulations of GMOs (genetically modified organisms).

The slide has picked up speed after that Monsanto has sharply reduced its full-year in May and reported a 45% drop in quarterly net income in June.

German Bayer, which has a subsidiary agrochemicals, will release its second quarter results on July 28 and his compatriot BASF, also present on this segment, July 29.

The European Commission released this month a proposal under which the Member States of the European Union could soon have the ability to prohibit the cultivation of GM crops on their land without justification.

The action Syngenta trades at a PER 2011 around 12.5, below that of the U.S. Monsanto but over other European companies in the sector.

She lost about a fifth of its value since the peak reached in March this year.

The U.S. recorded a budget deficit of 68.42 billion dollars in June, the 21th in a row, the Treasury announced.

But the deficit is down by 27% compared to 94.33 billion dollars in June 2009.

Over three quarters of the fiscal year ended September 30, the deficit amounted to 1.004 billion dollars against 1.086 billion in the comparable period of fiscal year 2009.

The latest projections for the deficit in 2010 will be given by the White House July 23 normally. In February, it expected a deficit of 1.600 billion dollars against 1.400 billion in 2009.

The Paris Bourse is stabilized in early trading Monday, after making its biggest weekly rise in a year last week.

The sentiment in the markets is nevertheless supported by the publication of a better than expected trade surplus in China and the prospect of good results season, which begins tonight in the U.S., with Wall Street after Alcoa.

Around 9:32, the CAC 40 index showed a decline of 0.14% to 3549.44 points, after opening at 3562.70 points (0.23%) and increased by 6.16% last week.

Banks weigh on the trend with a decline of 2.5% of Dexia, Credit Agricole 1.7%, 1.6% of BNP Paribas and Societe Generale 1.3%.

Zodiac Aerospace wins 1.85% to 40.520 euros after rejecting a merger offer from Safran (-1.7%).

Seb largest increase SRD wins 5.8%, while Goldman Sachs raised its recommendation from neutral to buy.

Other major European markets are closely irregular: London lost 0.02% while Frankfurt gained 0.12%. As for the European indices, the EuroStoxx 50 yields 0.15% and 0.11% Eurofirst 300.

The Euro drops to 1.257475 dollar against 1.2639 the day before the end of the day, while a barrel of U.S. light crude yields 52 cents to 75.57 dollars.

Marks & Spencer has reported a third consecutive quarter of sales growth recurring but at a slower pace and was cautious, like its competitors, prospects of consumption.

The British group, the number one clothing in the United Kingdom and also present in food and household goods, said its sales at stores open at least a year rose 3.6% the 13 weeks ending July 3, which correspond to the first quarter of its fiscal year.

This increase is in the top end of analyst expectations thanks to good performance clothing.It is, however, lag behind the 5.1% increase the previous quarter.

The recurring sales excluding food fit up 6% while sales in food rose 1.5%.

UK retailers worried about the consequences of tax increases and budget cuts announced by the government on June 22 consumption."We had a good start to our fiscal year, but after the recent budget and the measures taken to reduce the deficit, the increase in VAT, we are cautious on the outlook," said Chief Executive.

However, he ruled out a relapse of the British economy in recession and confirmed the target of a stable gross margin for the entire year.

Marc Bolland, who took over the reins of Marks & Spencer last month, confirmed he will present a strategic plan was updated in November.It could however be facing a revolt from some of its shareholders at the general meeting of the week, some investors do not hide their criticism of his pay 15 million pounds (23 million) annually.

The international sales rose 0.9% while those on the internet via M & S Direct have jumped 49%.

Marks & Spencer has underperformed the Stoxx 600 index of European retail sector by 11% since the beginning of this year. The value finished at 352.7 pence on Tuesday in closing a course corresponding to a capitalization of 5.4 billion pounds.

It yields 2.52% at 343.8 pence in morning