Scholarships resist degradation of Italy

The Paris Bourse was able to bounce back despite the deterioration in the rating of Italy by Standard & Poor's and the decline in bank stocks. The CAC 40 gained 1.50% to finish the session at 2 984.05 points. Financial markets had clearly joined the decommissioning of Italy. They preferred to see the glass half full and focus on the adoption of new measures to support the U.S. central bank (Fed) on Wednesday night and real progress in the Greek case. Caution remains implementation as evidenced by the low volume of trade. Less than EUR 2.7 billion changed hands on the great values ​​of the Paris stock exchange.

Having dithered for most of the session, the other major European markets have also opted for the green in the very last lap. Frankfurt was up 2.88%, 1.98% London and Milan by 1.91%.Wall Street awaited with optimism after the Fed meeting on Wednesday night and set the tone for European stock markets. In session, the Dow Jones gained 1.11% and the Nasdaq 0.94%.

The bank attack

Paris, accused the coup briefly in mid-afternoon, after the publication of a report by the IMF lowered its growth forecasts in the world no fax payday loans. The organization has also warned against the risk of destabilizing the global financial system if the debt crisis continues to get bogged down in the euro area.

The Paris market, however retained a great excitement to the crisis of debt in the euro area and remained suspended including ongoing negotiations to prevent bankruptcy of Greece.A new conference was scheduled yesterday in the afternoon between the Greek Finance Minister Evangelos Venizelos and the "troika" of the creditors of the country, European Commission, European Central Bank and IMF. The outcome of these negotiations is crucial for the country. It conditions the payment in October of the sixth round of eight billion euros of the loan last year in the euro area country and the IMF.

In Paris, the banking sector was again manhandled. Societe Generale lost 3.08% and 6.52% BNP Paribas, Credit Agricole 2.11% however the titles sensitive to the dollar ended sharply higher, with the image of LVMH (3.64%) and EADS (3.11%).

Bid rates on bank books

The French, who have cash to invest are spoiled for choice. Since early September, the war of books has flared up: banks, especially those dedicated to the Internet, engaging in a battle of promotional offers to attract home savers' deposits. They need the cash to finance themselves with it.

Some institutions are content, as in the past, offering a promotional rate of 4.5% or 5% (3 to 3.3% after tax) for two or three months for the opening of a new booklet . The good thing is short lived as the remuneration then falls to 1.75% or 2%. This string – display a high rate for a short time – is well known to subscribers.

Other institutions so attempting to stand out by offering lower rates, but longer guaranteed.This is for example the strategy of Cortal Consors (BNP Paribas), initiated by the summer. The property offers on new books 3.25% gross, but for 12 months (up to fifty million). Another subsidiary of BNP Paribas, Cetelem, also puts forward a savings account strictly identical conditions.

Rates guaranteed for one year

A fixed fee for one year is attractive for investors tired of "doing bounty hunting", that is to say, to transfer their capital from one institution to another and from one book to another, to take advantage of new offers short term personal loans. Other institutions are on the same register, even more cleverly. BforBank, a subsidiary of Credit Agricole, has revived some of its customers by promising 3% guaranteed, again for a year.But unlike other promotional offers reserved for the opening of a new book (or new installments of a book already exists), BforBank promises to serve this rate on any outstanding, that is to say also to amounts already invested in the booklet provided only "activate" the promotional offer.

That all customers BforBank not rejoice too quickly! The promotion was targeted: only those whose libretto is not too BforBank garni – and do not cost too much in interest to the bank – received the proposal. BforBank wishes to draw the subscriptions, but not at any price ….

The war is won booklets also in the field of customer segmentation. Like passengers on a plane, none of which paid for his ticket at the same price, investors who subscribed have the same book – a few months later – at all the same pay.Those who wanted to transfer their money have sometimes been offered to extend more interesting than those who leave the bed.

And those who have transferred their capital elsewhere without closing the book are offered more attractive rates for recharging …

Euro: Sarkozy is expected to speak this afternoon

Nicolas Sarkozy could be expressed in the late afternoon, after his meeting with Herman Von Rompuy, confirmed Tuesday morning in his entourage Figaro. It would only be a few minutes of intervention, on the steps of the Elysée with President of the European Council. "Nothing is confirmed yet," says one, however. "It will also depend on market developments in the day," says an adviser.

While a government source announced the "initiatives" to support Franco-German Greece to face serious funding problems of its debt, the Elysee Palace denied."There will be no Franco-German initiative today," said the president requested by the AFP, saying also that no decision had been made about a possible speaking of Nicolas Sarkozy to Following his meeting scheduled at 17 am (Paris time) with the President of the European Union Herman Van Rompuy.

The Elysee was also opposed to a very firm denied rumors that a scenario out of Greece to the euro would be discussed at the Elysee. We emphasized above all the character "drama" of this to the Greeks themselves, but also for the euro area.

"To ensure compliance with the commitments of the July 21"

"This is not a desirable solution, we do nothing to make it desirable," confided a senior official Monday night Elysian following folder every minute."We try to be consistent: we are about to present to Parliament the rescue plan that was decided on 21 July in Brussels. We do not prepare in the wings is another scenario that would offer the exact opposite, "he continues.

The state still remains fragile in which finances are Greek, "We try to convince them to do everything to achieve compliance with the commitments of July 21," says this source. Tuesday evening, the Head of State may wish to print this message in a clear and solemn.

The Asian market in the dark red

Asian operators in turn penalize the poor performance of U.S. jobs. On Monday, the major exchanges in the region are in the red on Monday, after falling more than 2% on Wall Street Friday and that of almost 4% in Paris. As elsewhere, the Asian stock markets suffer from fears of recession in the United States. The U.S. Department of Labor has announced Friday that the U.S. economy has not created any jobs in August, while analysts were hoping 70,000 net new hires. The ministry said the unemployment rate held steady in August at 9.1%.

In Japan, the Nikkei started the session on a drop of 1.37%. An hour of closing, he gave up 1.86% and sinking below the threshold of 9000 points to 8784 points. In Hong Kong and Shanghai stock markets lose respectively 2.17% and 1.63%.The Korean Kospi fall more heavily to 3.21% while the S & P Australia fell by 2.30%. The Indian Sensex lost 1.18% in turn.

Financial and technological attacked

As for values, the indices in the region are pulled down by the financial sector. In Tokyo, Nomura Holdings (-4.64%), Mitsubishi UFJ (-2.34%) and Shinsei Bank (-4.55%) decline severely. In Sydney, Macquarie Group (-3.70%) and Westpac Banking (-3.12%) drop. In Hong Kong, HSBC Holdings lost 2.23% and -1.69% Bank of Communications.

Similarly, the technology sector is affected by fears of a slowdown in global demand. In Japan, TDK lost 3.84%, 4.39% Fujitsu, Ricoh and Sony 4.42% 3.69%. These latter values ​​are also impacted by a still too strong yen against the dollar. In Korea, LG drops 3.7% while Hong Kong, Lenovo lost 2.46%.

Oil down

Oil prices were also misguided Monday morning in electronic trading in Asia, depressed by the poor figures on employment in the United States. In morning trading, a barrel of "light sweet crude" for delivery in October lost 59 cents to 85.86 dollars per barrel of Brent North Sea crude for October delivery 74 cents to 111.59 dollars.

In Australia, the energy sector is penalized. Santos lost 4.92% and 4.32% Oil Search.

Irene would cost tens of billions

The bill may be steep Irene. The governor of New Jersey, Chris Christie, has evaluated this Sunday on the NBC television network damage caused by Hurricane "billions of dollars, even tens of billions of dollars." According to an alternative estimate delivered by the consulting firm Kinetic analysis, the hardware cost of this storm is expected to rise between five and ten billion dollars, most likely around seven billion. Just to the North Carolina and South Carolina, two states already affected by the hurricane, the amount of losses expected to reach between 200 and 400 million.

Above all, this damage should be responsible in large measure to the State, businesses and individuals, when insurers should take on a lesser share of the burden, said Chuck Watson, one of the leaders of Kinetic Analysis told AFP."Most of the structural damage will be caused by the rising water because of rain and coastal flooding. Yet this type of damage is not covered by private insurance, "said he.

The same applies to losses caused by the cessation of activity in areas relevant to the coast, or the cost incurred by the evacuation of hundreds of thousands of people payday loan lenders. Thus, New York, usually hectic, has been transformed this weekend into a ghost town, most shops have closed up shop and residents have been urged to stay home. But there is no damage reported, insurance should not pay a dime to compensate their members.

Insurers expected to be down

Insurance companies, however, should see their value fall Monday at the New York Stock Exchange.On Friday, insurers Allstate and Travelers had fallen to the lowest levels for two years, investors anticipate the costs incurred by the hurricane for those companies.

The amount of the invoice should still be less than initially estimated. Thus, Kinetic analysis was planned on Friday that a tornado could generate over 12 billion euros of damage if it hit New York at the height of its intensity. Finally, she was demoted to a mere tropical storm, with winds still 100 km / hour. These amounts are in any case of a different order of magnitude as the colossal damage of about $ 100 billion registered during Hurricane Katrina in 2005.

Wall Street offers a strong rebound

The rebound was confirmed on Tuesday on Wall Street after two weeks of choppy stock markets worldwide. The New York indexes opened higher in small (0.22% for the Dow, 0.36% for the Nasdaq), after a session very agitated. But they gradually accelerated their progress. Only the earthquake of magnitude 6 that shook the East Coast of the United States shortly before 20h (French time) slightly slowed the increase without transactions are disrupted. The Dow Jones gained 2.95% to close at 11,175.10 points and the Nasdaq dominated by technology wins at 4.29% to 2446.06 points.The broader index S & P 500 finished its part of a gain of 3.43% (38.53 points) to 1162.35 points.

The only macroeconomic indicator on the agenda on Tuesday, however, was likely to reinforce fears of the market: sales of new housing in the United States have in fact declined by 0.7% in July, following declines of 2 9% in June, according to the Commerce Department. On an annual basis, the sales trend to 298,000 units (300,000 in June after), while analysts on average had forecast 310,000. If other indicators will be announced in the coming days, investor caution, but market volatility, however, should remain in force throughout the week until Friday.

That day, in fact, speak the chairman of the Federal Reserve, Ben Bernanke.Speculation is rife, some still hoping that it will decide a third monetary easing to support the U.S. economy. Will also be unveiled for the second estimate of U.S. GDP for the second quarter.

Banks and investment funds turbulent agitated

Oil markets, a barrel of "light sweet crude" for delivery in October closed up 1.02 dollars to 85.44 dollars in New York. As for gold, it never ceases to reach new records: the precious metal has reached this morning for the first time in its history to 1900 dollars quick payday loan.

As for values, the securities of the banking sector managed to recover. Monday, banks have suffered a lot and have weighed most heavily on the Dow. On Tuesday, Bank of America finally finished down 1.87% to 6.30 dollars.The bank, however, lost up to 6% to 6.01 dollars after losing 7.9% Wednesday on rumors of capital increases.

UBS gained 5.23% to 13.64 dollars, while Goldman Sachs ahead of 0.33% to 106.86 dollars, a government source who reported that the bank had hired Reid Weingarten, a lawyer of reputation, that markets see as the harbinger of a tough legal battle over the role of the bank in the financial crisis of 2008-2009.

News is expanded on the side of investment funds. The fund Cerberus and its partner Chatham Lodging Trust and have informed the United States real estate company Innkeepers Trust (Marriott franchise) they did not buy the walls of 64 of its hotels in the United States.The transaction, amounting to $ 1.1 billion, was announced in May.

The investment fund Jana Partners in New York and the pension fund Ontario Teachers Pension Plan, shareholders of the publisher McGraw-Hill (4.45% to 38.69 dollars), for their part stated the recommended separation group's activities. The two investors, who had announced in early August have acquired a total of 5.2% of the capital, advocated in a paper presented to the authority of the U.S. equity markets (SEC) that the group split its divisions Education, Information and Media and stock index Standard & Poor's.

Finally, on the front of mergers over the world stock markets, the Committee on Foreign Investment in the United States (CFIUS) approved on Tuesday the merger of NYSE Euronext (5.17% to 26.23 dollars) and Deutsche Börse (-0.67% to 56.52 dollars) that should give birth to the first global exchange operator.

Fruits and vegetables producers' anger

Was rotten to the producers of French fruit and vegetables. Multiply these actions to raise awareness of the state of their precarious economic situation. Vegetable growers now call their members to "strike of public payments," inviting them to no longer pay their payroll and other taxes. "I did not revive the disastrous situation of 2009, laments Angelique Delahaye, president of vegetables in France. Treasuries of our 40,000 businesses are very tense, 10% to 15% risk of extinction. We invite them to put themselves insolvent employer contributions to the MSA, deadlines and other bank charges. We must keep what little cash we have left to pay our employees and our local suppliers, "she says.

The gardeners feel they have lost 20% to 40% of their turnover since the crisis of cucumber, late MayAfter the questioning of vegetables by the German authorities in the bacterium E. coli, there has been a surplus of vegetables in the European market. With, as a consequence, a collapse in prices. These never reached the levels of last year payday loans. First victim, the tomato, which is officially in economic crisis last week.

Finally, the bad weather came to tarnish the situation. "The winter vegetable pot-au-feu or those consumed in béchamel as cauliflower are selling well right now over their cost," says Angelique Delahaye.

Targeted actions

Fruit growers are hardly better off. They have the advantage of cross-over for the holiday challenge on the road. "Sos Fruits, Europe guilty, absent policies …" be able to read on the tolls or stickers on banners hung on the bridges of the A7."We sell our fisheries currently 30 cents below our cost, deplores Regis Aubenas, producer of peaches in the Drome, the cause of this action by the FDSEA. We call policies to regulate the market so that the Spanish leading provider of fisheries in Europe, stop the dumping by selling eg 35 cents per kilo in Hamburg at Lidl. "

The player is used by default in the articles of figaro.fr. Maj7

The Cac 40 up sharply after the U.S. agreement

Relief. Is the word that prevails today in all of world stock markets, after U.S. lawmakers passed this night finally put to agree on raising the debt ceiling. In the wake of the Asian stock markets, the benchmark index in Paris advance to its first weekly session of 1.28% to 3718.38 points.

Last week, the inability of the United States to solve the problem of public finances had weighed on investor sentiment. In Paris the CAC 40 was indeed touched its lowest level in session year (3,630.75 points), while Wall Street finished its worst week in a year, despite the intervention of Obama Friday in an attempt to reassure debt.

After the relief 10 days ago on Greek sovereign debt, optimism is therefore in the financial Parisian.After weeks of negotiations, elected Democrats and Republicans have indeed finally found common ground on the amount of new ceiling, avoiding the world's largest economy is in default of payment in the coming days. According to preliminary information provided by the White House, the debt ceiling would be raised to 2.1 trillion dollars, which breathe new life in the United States on the forehead of the debt until 2013, after the presidential elections. This agreement in principle will also enable the countries to continue to borrow on the markets beyond the August 2 deadline set by the Treasury.

The reaction of rating agencies expected

On the other hand, no excessive optimism sustainable are to be expected in financial markets, at least until the U.S. Congress has not ratified the agreement. The first submission is expected to vote that day.Furthermore, few details have yet filtered on measures taken to reduce the deficit in the U.S., which does not exclude the possibility of deterioration in the rating of the sovereign debt of the United States.

For now, the first tranche of spending cuts of $ 1 trillion is expected. Then a bipartisan special committee of Congress will be responsible for finding the end of November additional expenditure cuts amounting to 1.5 trillion dollars. A total of 2.5 trillion dollars in budget cuts, all over 10 years. From this point of view, the reaction of rating agencies in this agreement called the "medium term" should be widely followed by markets in the coming hours.

On the currency front, the dollar has benefited only modestly from the announcement of the night, illustrating the temporary nature of such an agreement.Around 6:00, the euro slipped against the dollar at 1.4385 dollars against 1.4395 on Friday, but climbed against the yen at 111.67 yen against 110.41 Friday. For its part, the dollar set off again up significantly against the yen at 77.63 yen after briefly reached 78 yen, 76.73 yen against Friday night.

In terms of oil prices were up Monday morning in electronic trading in Asia, where the market relieved by this agreement in extremis. In morning trading, a barrel of "light sweet crude" for September delivery gained 1.53 dollars to 97.23 dollars. That of Brent North Sea crude for September delivery was appreciating $ 1.25 dollar to 117.99.

Macroeconomic side, investors should look carefully at the unemployment figures for the month of June (11am).Overseas are also expected to 16h construction spending for the month of June, the ISM manufacturing index for July.

As for values ​​to follow

Last week, the many semi-annual publications were rather disappointing, adding to the nervousness of investors. The pace slows publications this week, though are expected in the next three days the details of the interim bank shares. After the U.S. agreement, the entire sector was also well oriented (BNP Paribas will publish Tuesday, Wednesday Societe Generale, Natixis and Axa and Thursday).

EADS announced this morning that the takeover from Apax Partners Vizada, a provider of communication services for 673 million euros, the second largest acquisition in its history. The transaction will be financed entirely by cash.

Eiffage reported a slight slowdown in growth in the second quarter despite a sharp rebound from its construction activities, the division of public works who registered a decrease over the period.

Outremer Telecom. A draft tender offer simplified to the telecom operator was introduced by OMT Invest, a structure controlled by Axa Private Equity, according to a notice to the Financial Markets Authority (AMF) and released Friday.

EDF Energies Nouvelles (EDF ENR) has entered into exclusive negotiations with Capital Perceva to cede control of Supra, the fund feeds the project to file a simplified takeover bid at the end of the process.

General Health issued a sharp drop in operating profit in the first half due to exceptional items, but its revenue rose due to higher acute care stays.

Recylex published Friday sales for the second quarter increased significantly, from 32% to 125.34 million euros, supported by an increase of 48% of its business in recycling lead thanks to rising 16 % of lead prices and increased sales volumes.

Air Liquide. The gas giant reported Monday a 11% increase in net profit in the first half, to 750 million euros.It maintained its forecast a "steady increase" in net profit for the year.

Note that Gameloft will publish its interim results after market close, while Le Noble Age unveil at the same time state sales for the same period. The British bank HSBC, which is listed in Paris, finally published its results for the first six months of the year.

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"Asian stock markets welcomed the U.S. agreement

Wall Street would open slightly higher

Moody's has pushed the debt of Ireland in the category of investment "hedge" by reducing the country's rating by one notch to "Ba1" with a negative outlook, saying the country might have needed new injections money before returning to the market.

Some officials of the Federal Reserve were willing to further easing in monetary policy if the recovery was too soft to flow back as long as unemployment and inflation is slowing, according to the minutes of the last meeting of the U.S. central bank released last night.The Fed had not so far as clearly suggested that a third series of so-called quantitative easing could be considered after the end of the second round of $ 600 billion at the end of June

Good news this morning, with the growth of China's GDP reached 9.5% in the second quarter, a faster pace than expected, which supported the Asian markets this morning.

On the foreign exchange market, the euro has stabilized at 1.4061 dollars against 1.3974 dollars late Tuesday while oil drops. In morning trading, a barrel of "light sweet crude" for August delivery lost 41 cents to 97.02 dollars. That of Brent North Sea crude for delivery yielded the same 43 cents to 117.32 dollars.

On the macroeconomic front, investors will also monitor the continued publication of results of companies in the United States.Alcoa opened the ball of the ads on Monday after closing. Its earnings were revealed in below expectations, but its sales exceeded estimates and Alcoa has confirmed its forecast for demand growth in aluminum.

JPMorgan Chase will be the first major U.S. banks to issue, with results expected tomorrow, the same day as Google, which will set the tone for the technology. Investors will know very quickly if the U.S. financial sector has suffered from the decline in trading activities. These results also give a taste of the figures will be announced later by European banks.

According to Thomson Reuters data, the results of listed companies on the S & P 500 should show an average increase of 7.3% compared to second quarter 2010.But this increase could be higher if a majority of companies beat the consensus.

Wave of redemptions

Meanwhile, mergers and acquisitions continue to multiply on Wall Street.

The side of values, Electronic Arts has announced the acquisition of PopCap Games, a provider of video games for $ 1.3 billion including $ 650 million in cash, 100 million and the balance in action in the form of contingent payments by December 2013. In addition, the company should record a first quarter loss per share 0.37 to $ 0.40 against a loss of $ 0.24 per share last year.The turnover should be between 500 and 525 million against 539 million a year earlier.

Always on the side of values, UDR announced the acquisition of three housing estates for community $ 687 million and four development projects for $ 375 million.

Validus Holdings Ltd submitted a proposal for redemption Transatlantic Holdings (TRH) at a price of 55.95 dollars per share.

In addition, the Icelandic company that collects money for the site Wikileaks has sent a complaint to the European Commission against the credit card giants Visa and MasterCard for blocking since the end of 2010 donations to the site, his lawyer said Wednesday.

Also note, the U.S. court on Tuesday approved an initial payment of $ 272 million to victims of the scam of the old American financier Bernard Madoff by the liquidator of the fund, Irving Picard.

Cerutti: Cerutti, "A magazine for families in the study with TF1"

July 9, Vincent Cerutti present the second issue of "Sosie Sosie or not" in prime time on TF1. A vote of confidence granted by the private channel to its new host, after a first edition earlier this year. Readily compared to "Surprise of making" the show had launched Marcel Béliveau in 1989 in France, "Sosie Sosie or not" brought 5.2 million viewers on 1 January (23.8% audience share ). "This proves that the concept pleases, said Vincent Cerutti. The difference with "taking on Surprise" is that it is no longer the stars who get trapped, but the stars who, in a role against type, trap and anonymous. " Three programs are planned this summer, 9, 16 and July 23 in prime time, with about twenty guests in total.Whether TF1 wants to make a recurring issue, "it depends figures and viewers," concedes the presenter, who denies receiving any pressure or targets to hearing from the chain. Maybe TF1 wants to install a new brand with this program, at least we'll try, "says he.

Earlier this year, who made his debut on TNT channel local TV Le Mans (LM TV), was screened at the presentation of the new program flow TF1, "Dancing with the Stars" alongside Sandrine Quétier. A strategic project for the chain after the end of "Star Academy". Despite a change in leadership programs, "the second season will take place in a few months, said Vincent Cerutti, although I can not tell you when and with what celebrities."

No production projects

Within six months, the young leader would be poised to confirm that, in its search for new faces, TF1 made him the right choice. Also not impossible that we find in other programs. "A magazine of entertainment is also being studied or for the prime-time, or to a second part of the evening. It would be a show about family life, and a pilot has been shot, "he says.

At a time when most television hosts are also producers, Vincent Cerutti has no plans for now to give in to these sirens. "Producing? Maybe one day, but it is not relevant. My priority is simple: lead and present programs as can Jean-Pierre Foucault. "In 2006, the leader had created his company, Press'Agrum Productions (which no longer exists as such), who has produced "You had your fill! "For SM TV. "It allowed me to present for four years a 90-minute talk show, where I received the guests as diverse as Marc Levy, Michèle Cotta or Jean d'Ormesson." The new host of advanced TF1 also the importance of this type of experience and regional media. "The local DTT channels are like the radio in the 1980s. These are laboratories that allow leaders and journalists of tomorrow to form. It is important to try to keep them even if they suffer a lot economically. "

This summer, Vincent Cerutti will also be broadcast on RTL, for the second consecutive summer. He replaces Vincent Perrot at the helm of "Stop or" every weekend, from 9:30 to 11:30.As in 2010, it will also be with Jean-Sébastien Petitdemange, this time for "Journey of a spoiled listener" on Saturday from 13:30 to 15:00, starting July 16. For those who started on the radio, should be seen as a harbinger of any lasting return on the air? Why not. "I speak with my manager Gerard Louvin," concedes the moderator.