News – Business & Economi

Nissan Motor announced Wednesday that he still thought to exceed its goal of worldwide sales this year despite fears about the U.S. economic recovery, but he also warned against the effects of the current strength of the yen on its results.

"The stronger yen has a big impact on us.We will adopt measures to minimize cons-impact, "he told Reuters Insider assistant general manager, Toshiyuki Shiga, outside the auto show in Moscow.

He said that the cons-measures envisaged included an increase in imports of automotive components.

"We still do not change our earnings prospects but there are headwinds: the raw material costs rise, the yen appreciates (…) We have taken into account in our budget to a parity of 90 yen per dollar He is now at 83 yen, "he added.

While investors are hoping for a response from the Japanese authorities to contain the strong yen, Nomura Securities estimates that a rise of the yen against the dollar would result in a decrease of 0.9% of current earnings of major Japanese industrial groups fiscal year 2010-2011, which ends in March.

Nissan, the third Japanese automobile manufacturer, hopes to increase its market share globally this year with a growth of about 8% of its sales to 3.8 million vehicles, thanks to new versions of its small city Micra / March in his "crossover" Juke and other new models.

"Based on current trends, we can exceed our goal of global sales (3.8 million vehicles) if the market remains stable but the U.S. recovery is not expected to change very positively," said Toshiyuki Shiga.

Moreover, the CEO of Nissan in Russia, Francois Goupil de Bouille said it expects to double sales of the manufacturer on the Russian market to 100,000 vehicles this year, while all the Russian car market could reach two million units, after falling in 2009.

In late July, the Japanese group, in which Renault owns 43%, maintained its forecast of annual results due to uncertainties surrounding the outlook for global demand, despite the publication of its best quarterly operating profit for over two years.

Hewlett-Packard on Monday launched an offer of 1.6 billion dollars (1.2 billion euros) to acquire the data storage company 3PAR, competing with the offer of its rival Dell issued last week and potentially opening the way for other candidates for redemption.

HP offers a 24 dollars per share, an amount 33% higher than that proposed by Dell at $ 18 per share in cash, or $ 1.15 billion in total.

The proposed transaction represented by Dell when it announces a 87% premium over the closing price of 3PAR.

HP recently rocked by the resignation of its CEO Mark Hurd in early August, said that the board had approved the transaction.The closure of the transaction is expected before the end of the year, the company said.

STRATEGIC ACQUISITION

This acquisition would allow the IT group to extend its range of storage products for the 'cloud' (computer via the Internet) and support its service activities, like other industry heavyweights like IBM, they which tend to generate higher gross margins than sales of computers.

"3PAR enables us to expand our business in the storage and diversify our products," said Dave Donatelli, head of the business networks, servers and storage group, during a conference call.

Around 16:30 GMT, 3PAR jumped from 42.68% while the share of HP yielded 1.93%.

The boards of Dell and 3PAR had approved the terms of the agreement.

"We have proposed a superior offer, we are confident in our case and our proposal."

Due to the premium offered by Dell, industry analysts were surprised by the offer of HP, even if they had raised the possibility of a competing offer.

Shannon Cross, analyst at Cross Research, an additional supply could still be issued, which could start the beginning of a strong competition for this acquisition is rare in the technology sector.

"I do not think they (HP) undertake an acquisition only to weaken Dell is a strategic asset," she says.

3PAR and Dell were not immediately available for comment on the announcement of HP.

The trade deficit of France fell to 3.796 billion euros from 5.179 billion in June (revised) the previous month, thanks to increased exports find their level two years ago, according to data CVS / OCJ posted Friday by Customs.

Throughout the first half, the deficit increased to 24.544 billion against 22.928 billion during the first six months of 2009, a decline due mainly to the increase in energy costs.

The deficit for June was better than expected – economists polled by Reuters expecting an average of 4.5 billion, the lowest estimate is 4.0 billion – and is explained by an increase of 10% exports.

The balance of May has additionally been revised downwards to 5.179 billion 5.500 billion instead of an initial estimate announced a month ago, but nonetheless the highest since October 2008.

Exports FOB data CVS / CJO jumped 10.2% to 33.016 billion euros in June against 29.948 billion in May, reaching their highest level since August and September 2008.

Imports were up to their side of 36.812 billion euros against 35.127 billion the previous month.

In the second quarter alone, exports rose 2.6%, after rising 5.1% the first three months of the year, while imports rose 7.4% after +2.1% within the scope of energy purchases.

SALES OF AIRBUS straighten

Improved trade balance in June was primarily due to exports of transport equipment. France has sold on July 26 Airbus which it earned 1.719 million euros against 19 aircraft to 1,050 million euros in May, combined to deliver a packet.

"The sales of transportation equipment, which fell 1.4 billion euros in May, are better than recover.Outside major contracts, industrial exports are also dynamic, "according to Customs in their commentary.

"Throughout the first half, the resumption of trade undertaken in late 2009 has intensified, not found for all the pre-crisis levels," added the administration.

Of these six months, exports rose 5.9% to 187.0 billion euros, compared with an increase of 3.9% in the second half of 2009.

After two semesters of decline, aerospace sales have rebounded by 10.4%, France has supplied over the period 141 Airbus worth 9.4 billion euros.

Automotive exports have, however, increased only 4.3% after rising by 19.5% in the previous semester when they had received "car scrapping" in most European countries.

The mechanical and electronic equipment, pharmaceuticals, intermediate goods (chemicals, metals), agricultural products and energy products have also been well directed, according to Customs figures.

REBOUND AMPLIFIED

Imports have increased their share from 7.4% in the first half, after +2.1% in the previous six months, mainly due to the depreciation of the euro has made it more expensive energy purchases paid in dollars.

The energy bill was so weighty $ 23.2 billion against 20.1 billion in the second half of 2009.

Excluding energy, the increase in imports is only 5.6%, after +2.2% in the second half of 2009, note Customs.

If it has increased the energy bill, the weaker euro has instead favored exports that show a 10% increase compared to the first six months of 2009.

"In the first half of 2010, the French foreign trade has amplified the rebound started in late 2009 by taking advantage of the upturn in world trade and strong demand from emerging countries," said Anne-Marie Idrac, Secretary of State Foreign Trade, in a statement.

"Exports rose to virtually all trading partners, with particular vigor to China or Brazil," she adds.

Towards Germany, the largest trading partner of France, exports grew by 8.5% in the first half.Those to Spain, however, fell 1.4%, reflecting the difficulties of this country is, after Germany and Italy, the third biggest market for French exports.

The press kit released by Bercy reported encouraging outlook for the rest of the year.

"France will continue to benefit, assuming a stabilization of the exchange rate of the euro, an enhanced price competitiveness, the effects on sales will be realized fully in the second half of 2010 and 2011, especially to large emerging markets, "it reads.

Sanofi-Aventis could make a first offer around $ 70 per share to acquire U.S. biotech Genzyme, analysts said.

Some consider that the French pharmaceutical group may raise its offer to $ 80.

Under cover of anonymity, one analyst said that "70 dollars would be a first offer" and that "at $ 80 it remains a good deal for Sanofi.

Same story for another sector specialist who believes that $ 80 "operation creates value in three years that will follow."

Citigroup, meanwhile, said that Sanofi will likely be the only buyer of American specialist on rare diseases and will pay between 74-77 dollars per share, or 19.7 to 20.5 billion dollars (15.0 to 15 6 billion euros).

Citi analysts consider that "insofar Sanofi may be the only buyer, and that shareholders are aware that Genzyme may fall into the lower half of the range of 50-60 dollars, unless an agreement is not passed the matter will be at 74-77 dollars. "

They add that the French lab could launch a hostile bid if Genzyme resists and present its offer directly to shareholders.

The shareholder Relational Investors, Carl Icahn, who hold respectively 3.8% and 4.9% from Genzyme, could be satisfied with an offer around $ 75 since they bought at 61 and 54 dollars, says Citi.

Sanofi, an agreement would be $ 75 4% accretive in 2011 and 13% in 2013, analysts have calculated the Citi.

At Raymond James, Eric Le Berrigaud doubt that "70 dollars is sufficient.Starting at $ 70, is ready to go up to $ 80, "he notes." And at 80 dollars it is not certain whether all the guarantees of success since c is roughly the level or was action before Genzyme's production problems.

The biotech has enjoyed last year a series of production problems on its sites in the U.S., which continue to weigh on its business.

"SANOFI PREFERRED FINANCIAL LOGIC"

A fourth analyst insists that Sanofi is expected to launch its bid for Genzyme even if it does not create value for the group's objective is to increase its earnings per share.

"For the operation to bring value, it should pay less than $ 70 per share, or about 64 dollars," he says."If Sanofi launches operation beyond, is that the group favors a financial logic in the short to medium term to close down its results and not the logic of value creation."

For him, "the title Genzyme could return to $ 80 after the settlement of industrial problems, but very transient because its treatment of Gaucher's disease could soon be rivaled.

Sources familiar with the case, it said last week that Sanofi intended to send a letter to Genzyme with the terms of its offer.This offer would be like "bear hug", that is to say friendly at first but may become hostile if necessary.

The Board of Directors of Sanofi has authorized a $ 18.7 billion dollars, said last week, sources familiar with the matter. But Sanofi has financial guidelines allowing it to raise its offer, that is to say, to bring more than $ 70 per share, said a source.

The experts, anyway, that Genzyme is a suspect "white knight" to deal with Sanofi.

A spokesman for the Financial Markets Authority said that the French system which requires an initiator to declare his intentions in certain conditions if the rumors do not apply when the target is foreign.In this case, the law of the country in which the target company is applying, "she added.

The action dealt Genzyme Monday up 0.5% to 69.93 dollars in early afternoon on Wall Street. In Paris, the title Sanofi closed at 45.4 euros (1.88%).

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.

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.

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