Renewed weakness in Europe's stock exchanges

In the wake of Grants in Asia this morning, the CAC 40 on a downward trend during the early exchanges. It lost 0.53% to 3669 points before embarking on his decline of 1%. Elsewhere in Europe, the trend is downward as well.

The concerns are global investor sentiment is sealed by the debt problems of Greece, Spain and Portugal, "said Marcus Droga, associate director at Macquarie Private Wealth in Sydney, quoted by Dow Jones Newswires.The Stock Exchanges of Madrid and Lisbon have plunged Thursday, respectively, nearly 6% and 5%, because of the finances of Spain and Portugal.

For several days, observers and analysts worried about the state of public finances of these two countries, waving the specter of Greece, whose deficits and debt are so high that the European Commission decided Wednesday to put the country under a quasi-trusteeship.

Investors were also looking towards the United States.The employment figures in the United States will be published in early afternoon U.S. investors unwelcome Thursday announced an unexpected rise in the number of new entries to unemployment, to 480,000 last week, this which portends bad monthly statistics of employment, to be published Friday before the opening of Wall Street.

Finally, the finance ministers and central bankers of the G7 meet in Iqaluit, Canada.

Values automotive and banking suffer

In this context, only a few values derive their game well like France Telecom (+0.85% at 16.67 euros) and Suez Environment (+0.56% at 16.09 euros).

Conversely, values auto penalized by bad news on Toyota: Renault, Michelin and Peugeot respectively yield 2.22% to 32.98 euros, 2.05% to 54.86 euros and 1.97% at 22 42 euros.The finding is similar to banking stocks, the minister of New York accusing Bank of America to have hidden accounts of Merrill Lynch to obtain public assistance cash advance america . Dexia (-3.02% to 4.11 euros, Societe Generale (-1.78% to 39.35 euros), BNP Paribas (-1.40% to 49.14 euros).

LVMH (-4.28% to 77.96 euros), said that addressing the Year 2010 "with confidence", saw its sales fall by 4% on a comparable basis in 2009 to 17.053 million euros, with a return to organic growth (1%) in the fourth quarter alone.

Nexity (-3.20% to 26.35 euros) anticipates a fall in its turnover to around 2.5 billion euros in 2010, having recorded an unexpected increase of 6% to 2.838 billion in 2009.

EDF (-2.43% to 38.28 euros) has announced the formation of a tighter management, including the arrival of Thomas Piquemal, who leaves his post as CFO of Veolia Environnement to occupy the same positions within electrician.

Bureau Veritas, stable at 34.80 euros, would use its "strong cash flow generation" to make acquisitions in the first half of 2010 and it plans a gradual return to organic growth in the second half. The world number two of the certification issued a turnover in 2009 rose 1.9% to 2647.8 million euros.

Teleperformance (-2.12% to 24.48 euros) issued a turnover up 3.5% in 2009, but said that its sales had declined sharply in the fourth quarter, mainly because of degradation of its business in Europe.

Hermes (+1.51% at 98.55 euros) grew by 8.5% of its turnover in 2009 to 1.91 billion euros. In 2008, the French luxury group had a net profit of 290.2 million euros. Net income in 2009 will be released March 25.

Two other companies publish their turnover for 2009, Friday: Eiffage, stable at 37.14 euros, and Bongrain (-0.21% to 58.18 euros).

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Peugeot launches its solution "mobility map"

Mu, you know? Not yet? It will soon be difficult to avoid if you live in Paris. Peugeot is launching an extensive marketing campaign for its new "mobility service". Display urban subway trains in the colors of Mu, nothing will be spared.

But Mu is what? A rental vehicle launched by Peugeot, which allows users to rent, according to his needs, a bicycle, electric assisted bicycle, a scooter, a car and, once it is released, the Ion, the electric car from Peugeot. The principle is simple. Simply create an account on the Internet (www.mu.peugeot.fr) and purchase of units (20 cents one). Once Mu credited his account, you can book the vehicle of choice, always on the Web, or on terminals now installed at dealerships Parisian brand, but also those of Brest, Rennes, Nantes and Lyon.

Renting a bike with electric assistance will cost 45 units the day (9 euro), a scooter 125 cm3, 39 euros. If you need a family sedan, a 407 to go on weekends, this will be charged 215 euros (per 500 kilometers). A rate comparable or slightly superior to those displayed by the traditional rental. But the benefit formula Peugeot, you choose your model: you book a 407, not a Category C, with its share of mystery about the type of vehicle in which you are flying again.

With Mu, you can also rent the accessories you need: for example, a GPS (10 euros per day) a bicycle rack (20 euros) or 80 euros a week, a roof box.Baby seat, bike helmet and bike, and snow chains are also available in dealerships.

Peugeot hopes to win in Paris 1600 by June, with a formula clearly inspired by the car sharing and Vélib'et whose chief advantage and be no subscription fee. Disadvantage in terms of "mesh" of the territory (one of the arguments of marketing for the brand), yet there are only four concessions in Paris and that of Defense. However, Peugeot Scooter will soon offer their services. What a true "local network".

Proglio combining work and retirement

Proglio The file is still not closed. The CEO of EDF, Henri Proglio, should combine their boss salary (1.6 million euros, Ed) and a retreat from Veolia. Since March 2009, this operation is legal, no limits from more straitjacket overlapping-retirement employment.

According to Le Parisien, retirement Veolia would exceed 1 million. It would consist of retired Safely Agirc-Arrco of around 90,000 euros per year, and three retreats "houses" retaite a defined contribution pension and two hats.

These four elements can not exceed 50% of average earnings the last three years, the total amount of this pension would be between 1 million and 1.15 million, according to the daily instant payday loan .According to an actuary AG2R La Mondiale, the largest pension hat could reach 700,000 euros.

Not being an agent EDF, Henri Proglio not collect retirement hat at EDF.

Quoted in Le Parisien, Stéphane Fouks, director of Euro RSCG, responsible image of the boss of EDF, said "until now Henri Proglio had no euro.

Forecast growth in 2010 doubled in France

The government will almost "double" its growth forecast for 2010 up to now set at 0.75%, said Prime Minister Francois Fillon on Thursday. This revision of economic forecasts will rise to the occasion of the supplementary budget, said the Premier.

"In the beginning of this year's event takes off. I am announcing that we will revise upwards our growth rate during the presentation of the budget law on investment for the future, next week, "said Francois Fillon. "I think we will not be far from doubling our last official forecast, which was 0.75%. The government is coming close to economists' forecasts.Deutsche Bank expects growth of 1.5% in France this year.

"Keep strict state spending"

The Prime Minister also made a sign towards the financial community. He promised that he would present "in the coming weeks our overall strategy of leaving the zone of excessive deficit by 2013, indicating the conference organized deficit late January.

"We will continue to take strict state spending: already in 2009, these costs will ultimately be slightly below the ceiling which had been voted by Parliament," he argues."For 2010 we have also decided that the interest burden of the investment program (large loan) will be offset by an equivalent reduction in state spending."

The rating agencies have repeatedly warned Paris that he must submit a strategy of rapid reversal of deficits and debt.

The Economy Minister Christine Lagarde announced late December that France knew "a slight recovery" and that growth in the fourth quarter 2009 is expected to be slightly above the 0.3% recorded in the third.

"See also: Debt: France, no better than Spain

"Stiglitz:" The deficits are not a problem "

"2009 and 2010, years deficit

U.S. exchanges to depart downward

Global stock markets agree on Thursday. First this morning, the Asian financial centers were closed, one after the other in red. In Europe, the indices are not better. And the United States, the futures are pointing down also. At the opening, the Dow Jones future cowardly 0.3% as 10,500 points, the future S & P 500 yielded 0.14% at 1135 points and the Nasdaq 0.12% to 2298 points. Yesterday, Wall Street has ended the session on an uncertain note, amid job losses more than expected in December by ADP.

Today, official figures published in Washington state that new entries in unemployment in the United States rose slightly during the week ended January 2 with the deposit of 434,000 benefit claims.This is much less than expected.

The Central Bank of England left rates unchanged.

According to Wendy Liu, an analyst at Royal Bank of Scotland, several indicators suggest that China may soon raise interest rates.

Distributors for

As in Europe, the distribution sector makes news in the United States.

As for values to be followed across the Atlantic on Thursday, Macy's (1.58% to 17.37 dollars) has announced an increase of 1% of store sales and raised its forecast results for the fourth quarter to earnings per share between $ 1.14 and $ 1.18, against 1 to $ 1.05 previously. The action takes more than 3% in pre-open trading.

Always among distributors, but in textiles, Gap (0.48% to 21.14 dollars), he, reported sales up 2% in December.Costco Wholesale (0.23% to 60.14%) has published an increase of its activity around 9% on the month of festivities.

Bank Of America Merrill Lynch (1.46% to 16.63 dollars) has been "upgraded" by Credit Suisse to "outperform", while the aluminum producer Alcoa (-2.36% to 16.57 dollars) saw its recommendation degraded at Citi.

The Accor Group will split into two

Nothing will ever be. Directors of Accor approved on Tuesday a proposed split of the group that plans to separate one side hotel, other services (including Ticket Restaurant). The decision was taken unanimously with a vote, the Strategic Investment Fund (ISF). Accor's second largest shareholder with 7.4% of capital, "sovereign wealth fund to the French" had opposed the project, or at least its timing. In our columns, Gilles Michel, CEO of FSI, had deemed "risky". However, it has joined any of the six independent directors on the board (of twelve). A setback for the fledgling fund in the battle that played out behind the scenes.

Accor cut in half, it was the wish expressed long ago by the fund Colony and the investment company Eurazeo, bound by a pact and initial shareholders with about 30% of capital.They say the best way to value the group ending the discount for holding that penalizes the share price. Gilles Pelisson, Accor's CEO, agreed with their opinion in recent months. He will lead the hotel industry (Accor Hospitality). The new entity combining the services will be headed by Jacques Stern. The deputy director general in charge of piloting the project finance division to completion.

"The split does isno job cuts'

An extraordinary general meeting will be convened no earlier than late June to endorse the project to be implemented before the end of 2010. "I said before the group walked on two legs better, but I always said that the subject was not taboo and it would look on a regular basis, was justified Gilles Pelisson, explaining that two looms Accor had profoundly transformed in recent years.He believes that now is in their interest that they become "pure players". "The central scenario, with the final terms will be decided in the coming months, is a split with two listed companies, a detailed Gilles Pelisson. Accor to action today, you have an action Accor Hospitality and action Accor Services. "

On the job – a concern of the unions – he assured that "the division does not create job cuts as there are no synergies between the two professions.

Eurazeo and Colony Capital have agreed to extend to shares of two companies that will arise from the splitting of the provisions of shareholders agreement between them since May 2008 until May 4, 2013. They also extend within the pact until 1 January 2012 the commitment to retain their shares in Accor and entity services.Conversely, the ISP finds his freedom of action vis-à-vis participation inherited from the Deposit.

Studies conducted by management have shown a separation of two Accor would enable it to "accelerate" the development of both trades. Emphasizing the lack of synergy between hospitality and services that evolve "in environments increasingly different," the work of the board have concluded that once separated these two businesses, "with their own business model, attract a greater number of investors. " According to Sebastien Valentin, an analyst at Societe Generale, services should represent 14% of sales this year of Accor, but two-thirds of operating profit."This poses a problem of balance, because culturally Accor remains primarily a hotel company," says he.

Without the hotel, receive services at 100% of the cash they emerge to finance their development. As for the hotel, without the cushion of safety that brought him the services it should expedite the sale of walls.

For the ISP, a division of Accor is too risky

EU puts pressure on deficits

The EU executive has asked yesterday in nine countries to reduce their deficit below the limit of 3% of GDP by 2013. In this group, France is in the company of Germany, Spain, the Netherlands, Austria, Portugal, the Czech Republic, Slovakia and Slovenia. Few States to escape the vigilance of the police budget in Europe. Belgium and Italy are ordered to comply with this requirement of the Stability Pact in 2012. However, both countries have a grace period: Ireland may wait until 2014 and Great Britain until April 2015 to reduce their deficits. Already, the France and Belgium, deeming these goals unrealistic, have questioned the relevance of the deadline. Both want an additional year to satisfy the Commission.Greece, regarded as a bad pupil of the European class because of an excessive deficit, may be punished more quickly than other states.

"Deficit: Paris ready for showdown with Brussels

Profit taking in the Paris Bourse

The CAC 40 ended down 1.45% at 3827.60 points. In other European markets, Frankfurt was down 1.50%, 0.63% London and the Eurostoxx 50 of 1.55%. After you open up the Parisian market fell into the red after reporting results from General Electric and Bank of America (BoA).

On the macroeconomic front, the index of U.S. consumer confidence measured by the University of Michigan has declined against all odds in October to $ 69.4 against 73.5 the previous month, according to preliminary figures released Friday .

The values of the day

Carrefour (-3.33%) announced sales of the 3rd quarter of 2009 24,018 billion euros, disappointing compared with expectations Analsyte.The number two worldwide distribution announced Thursday its intention to sell its activities in Russia "in the absence of sufficient growth prospects."

Accor (-1.15%) achieved a turnover decrease of 8.2% for first 9 months of 2009, comparable to 5.258 billion euros. The group confirms its objective of profit before tax and non recurring items of between 400 and 450 million euros for 2009.

The commercial director of the European aircraft manufacturer Airbus, John Leahy, denied a press information published Thursday on the Tribune that he was concerned with the former leader of the European defense and aerospace firm EADS (-1, 80%), Jean-Paul Gut, the American aircraft lessor ILFC.

The Tribunal de Grande Instance de Toulouse canceled Trial Plan Out Personalized Volunteer initiated by Altran Technologies (0.71%) in June 2009.It would have felt that some of the arrangements provided outplacement should be improved and supplemented. The group could appeal the decision.

The turnover of Safran rose 1.2% in the first nine months of the year to 7.533 billion euros. Jean-Paul Herteman, CEO of the group, said that the engine of the A400M was ready for a first flight by the end of 2009. The title Safran still loses 5.85%.

Atos Origin (-2.17%) recorded a turnover down over 9% in the third quarter over one year to 1.229 billion euros. Despite "the economic environment remains difficult," the group's CEO Thierry Breton said he was "confident the group's ability to achieve its objectives for the year.