Ports: Bernard Thibault accused the government

This is the first time he speaks in the press since the announcement, denied, he left the CGT. In an interview published Monday in L'Humanite, the secretary general of the CGT said that "the government bears full responsibility" of the conflict that disrupts past several months the French ports.

For the fourth straight weekend, in fact, the dockers and crane crane operators were expected to strike alternately between Friday and Monday. At the center of the standoff between the CGT ports and docks and the government, taking into account the hardship. "There were negotiations between employers and unions to organize and fund early retirement. The government had agreed, "said Bernard Thibault in the daily newspaper. However, after the redesign of November, the government explains that "it is no longer question the grounds of the application of the law on pensions."Bernard Thibault, who spoke after the national confederal committee of the CGT, the "parliament" of the central Montreuil, also finds that for the government to "accept the recognition of the harshness in the ports would be a bad example for the other branches Online payday loans. "

The conflict in ports is born of the government's willingness to review, after the vote on pension reform in November, the tentative agreement a month earlier between the two sides on the recognition of the hardship for some trades port. This conflict would have cost 800 million euros to companies, recently told Le Figaro.

Questioned on the subject Sunday, the secretary general of the CFDT Francois Chereque, regretted the union system "not very democratic" in French ports."Since the liberation, we are in a single trade union, where it is the unions that are hiring, including the CGT," he said, lamenting the absence of the CFDT from Dockers. In the present conflict and as his counterpart of the CGT, Francois Chereque denounced "dysfunction" of the State which is income on a "promise" the previous government.

(With AFP)

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The ski season was the slope

The mountain professionals escape the hangover. Despite a decline in attendance for the Christmas holidays, ski season promises to be better than last year. According to the firm Protourisme, bookings are up 4% for stays through April, with the return of foreign visitors from the Benelux, Germany and Switzerland in particular. The British are slow, them coming back.

"In the larger resorts, December was generally worse than 2009, while family resorts (Pyrenees, Massif Central) have worked well," says Didier Arino, director of Protourisme. Frédéric Lefebvre, Secretary of State for Tourism, indicated last week that 50% to only 60% of accommodation capacity had been reserved for the first week of holidays. Christmas falls on a Saturday is a very bad timing for professionals.But their situation has been settled: the reservation rate exceeds 70%, reaching 100% in some stations average altitude this week, the minister said.

In 2011, the staggering of school holidays is good for winter sports. Belgians, Germans and Russians leave in January, the French in February and March. Who benefits most? "The early booking is to say bookings over three months in advance, worked well in the holiday resorts and tourist homes," says Didier Arino. Conversely, mid-range hotels and furnished apartments (without associated services) are less desirable because vacationers want to make life easier, with "all-inclusive" or as much as possible no faxing 1 hour payday loans.

Loyal customers

"The high end (Club Med, luxury hotels) and low-cost (Travelski, Lastminute) work," says Didier Arino.But the flats sold directly by estate agents are suffering. "The evidence in Courchevel, the Cranberries, a luxury hotel owned by businessman Stephane Courbit. "From mid-December to mid-January, the hotel is sold out as usual," said Francois Arrighi, Director of the institution. Twenty nationalities currently residing Cranberries, where the evening's Eve (800 euros per person, excluding drinks) sold out.

After two difficult seasons, the Club Med expects a rebound in attendance. Last winter's snow sixteen villages had welcomed 142,200 GM (nice members), 58% French. "In a crisis of trust asset, our customers were destabilized," says Anne Yannic, Director General in charge of France, Belgium and Switzerland at the Club. His desire to leave was still there, but she has postponed her vacation.Reassured, she returned this winter. "With prices for the week 1500 euros on average, the ski club attracts a loyal clientele: this winter, 52% of them have already spent at least two visits to the Club last three years. These are families (66% of GM last year), with revenues of at least 60,000 euros net per annum.

The price of water increases faster than inflation

The conclusion of the study conducted between 2004 and 2008 by the Observatory of public water and sanitation is clear: water is becoming increasingly expensive in France. This body, under the Ministry of Ecology, in its investigation reveals that the average price of water increased by 3.3% per year over four years, an increase faster than the index consumer prices (+1.9% per year).

At the same time, consumption of drinking water in households has fallen by more than 2% per year between 2004 and 2008, while it increased by 1% per year between 2001 and 2004. A French consumed on average 151 liters per day in 2008 against 165 liters in 2004. "Despite the drop in water consumption, the household water bill does not decrease, the contrary, stress the authors of the study. The annual bill for domestic water goes from 175 euros per capita in 2004 to 183 euros in 2008, an increase of 1% per year."The effect of reduced consumption on the water bill is limited by an increase in the price per cubic meter can be explained by improved service quality and the need to amortize the equipment," conclude the authors.

Differences between collective and private boards

This price varies greatly according to the department. The cost per cubic meter of water is higher than 4 euros in Britain, Seine-et-Marne, the English Channel, Vendee, Guadeloupe and Martinique. However, Reunion, Guyana, Alpes-de-Haute-Provence, Ain, Cantal and Jura have a price below average at 2.50 euros per cubic meter.

These disparities are explained by the origin and resource availability. But mainly by sanitation methods chosen by the municipality online payday loans. The rates charged in a regulated public management are traditionally lower than those charged by private delegation.The gap was 57 cents in 2008 bringing the average tariff per cubic meter of water (m3) for an annual consumption of 120 m3 to 3.39 euros in France and overseas departments in 2008 in the Commons provided a collective sanitation.

Sanitation is now essential element of the bill. According to the authors, "including the charges within each component, the share of Sanitation (53% in 2008) in the price of water now exceeds that of drinking water."

Catch-up effect between public and private sector governance

The study also notes a fundamental trend: the price gap between private and public ownership is narrowing. It was in effect in 2004 of 67 cents against 57 cents four years later. In other words, prices are rising faster in public than in private.According to Jean-Louis Chaussade, CEO of Suez Environment, which is expressed in the columns of the Echo on Wednesday, "the delegations had probably built more quickly up to European standards of treatment plants, for example, who adds the costs. Hence a catch-up effect of the governed. "

This is especially important as more and more common with drinking water service, resort to authorities. The rate of those who run this service in the public was 48% in 2008 against 45% in 2004.

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Further rise in the Paris Bourse

The CAC 40, which finished on a further increase of 0.54% to 3831.98 points, up again on Thursday from 0.67% to 3857.69 points. Since the beginning of December, the benchmark index of the Paris Bourse has soared 6.5%.

Yet the German and U.S. bond yields jump for two days at a pace not seen since the collapse of Lehman Brothers in September 2008. The ten-year Bund are ironed over 3%. The German Finance Agency has had difficulty making ends its broadcasts.

Last night, the markets have advanced timidly américnains while on Thursday morning, the major regional financial center in the Asia-Pacific have evolved somewhat higher, except for CSI Chinese, who still suffers from a perspective of a rate hike of interest during the weekend.In Japan, the growth forecast in the fourth quarter was revised up to 4.5%.

Companies hire in France

As for statistics, France saw its businesses continue to hire in the third quarter. Job creation continued in the third quarter, according to data from the employment center and ACOSS, but at a level slightly lower than the former.A trend that should continue in 2011.

In Brussels, the submission to the Commission of the World Energy Outlook from the International Atomic Energy Agency (IEA), one of the most reliable sources of the world from the analysis of the energy market will be well attended.

United States, the weekly claims for unemployment benefits (1430)

Club Med confident for 2011

Club Med said it had divided its four annual net loss for 2009/10, and stated that "2011 is presented favorably," thanks to a steady increase in bookings and improved profitability in a statement released Thursday.

The Action Club Med climbed 2.69% to 14.12 euros.Is one of the strongest up the Paris stock exchange.

Derichebourg: 5.79% to 4.22 euros (largest increase in the SBF 120

The company returned to profit in 2009-2010 and expects a continued growth of sales of each of its three divisions.

Bull: -3.16% to 3.68 euros Bull plans to almost double its operating profit by 2013 and achieve at that time more than half its sales outside France, against 45% currently, said its CEO Philippe Vannier in an interview with Les Echos on Thursday guaranteed fast personal loans.

PPR appreciated stock

PPR (0.95% to 128.10 euros) sells furniture retailer Conforama over $ 1.6 billion to South African group Steinhoff.

Eiffage: 0.85% to 35.50 euros The current CEO, Jean-François Roverato said in an interview with the Tribune that the short-term priority for his successor, Peter Shepherd, is to "redress the margins" the group should carry on throughout 2010 a turnover "very close" to the forecast of 13.3 billion euros that had been communicated at the beginning of the year.

Saint-Gobain (+0.88% to 38.95 euros) announced Wednesday it had obtained a credit line of 3 billion euros, maturing in December 2015 with a syndicate of 24 banks.

Danone: -0.21% to 47.01 euros The European authorities have imposed a disappointment to the group by preventing it from claiming the benefits of milk drink Actimel for reducing the risk of diarrhea caused by bacteria in hospitals. In an opinion issued Wednesday, the European Food Safety Authority (EFSA) said insufficient evidence provided by the world's leading manufacturer of yogurt in support of his application.

L'Oréal intends to accelerate its investments in research and innovation in emerging markets to achieve its goal of winning a billion new consumers within ten years.

Bank up

Societe Generale (1.76% to 40.77 euros) is preparing an issue of bonds for a total of two billion dollars (1.5 billion euros), an operation which will have three components, reported Wednesday IFR, a division Thomson Reuters.

BNP Paribas 2.02% to 51.63 euros The group plans to double its presence in Poland and greatly enhance its market share in the country by 2015, said in an interview with the Tribune on Thursday Amoudru Frederick, Head Polish bank.

Natixis: 0.59% to 3.72 euros administrator responsible for the liquidation of the company's financial Madoff and collecting money for victims said Wednesday it filed a new appeal against seven banks including the French on a total of over one billion dollars.

Volkswagen dream of an empire in the heavyweights

The appetite of Volkswagen (VW) is insatiable. The number one European car, which seeks to dethrone the Toyota Japanese to head the world rankings, also seeks to create an empire in trucks.

The Swedish truck manufacturer Scania and German MAN, which both belong to the galaxy Volkswagen, and consider merging. The automotive group has at present 45.7% of Scania and nearly 30% of MAN. The latter also owns 13.4% of Scania.

VW wants to increase its share in Scania to 75% or 80%, then give him the 30% stake in MAN, according to the German weekly Der Spiegel, citing internal plans.Scania should then make an offer on the remaining shares of MAN, and then merge with the German, according to the magazine.

Scania said that the two manufacturers for some time studying various industrial projects in order to create synergies in research and development, production and purchases. "This process has shown that the full realization of potential synergies requires closer cooperation, arising from a combination of two groups," confirmed Swedish.MAN, citing economies of scale possible "substantial", also acknowledged that discussions were underway about this.

Scania has however stressed that at this stage "no decision has been taken, because there are many commercial and legal issues outstanding."

Strained Relations

You must read these maneuvers behind the influence of Ferdinand Piech, chairman of the supervisory board of Volkswagen and MAN, and already the architect of the takeover of Volkswagen by Porsche. The little son of the inventor of the Beetle group wants the eleven marks a steamroller, present on all continents and all market segments: the truck to luxury car.

A merger between MAN and Scania would create a giant employing 82,000 people. Together, both companies would have a global market share of 5.9% taking into account the volumes of 2009.They exceed Volvo (5%), but remain behind Daimler (11%), the global leader in the industry. Last year, Scania has achieved a turnover of 6.6 billion euros. MAN that was $ 12 billion. The new flagship truck VW, reducing costs dramatically, would then be better armed to fight against its powerful competitors.

If the new investors rejoiced yesterday, this merger may face some obstacles. The relationship between Scania and MAN have been strained since a failed hostile takeover attempt by Swedish German in 2006. Especially, the powerful German trade union IG Metall has already stated its rejection of a takeover of Scania by MAN.

After a terrible year 2009, the market for heavy trucks has taken this year, enabling manufacturers to dramatically improve their financial results.Volvo expects a rise in market heavyweight 10% in 2010 in Europe and an increase of between 20 and 30% in North America.

Audit firms in the sights of Brussels

After the rating agencies, derivatives and hedge funds, it is the turn of the audit to be back on the grill, in Brussels. The European Commission launched on Wednesday a broad public consultation on this industry questioned during the crisis to its high concentration and its potential conflicts of interest. "The fact is that few people had seen this crisis coming, no more audit firms than others, while they were at the forefront as they checked the accounts of the largest banks. Lehman Brothers is not so far away, "said Internal Market Commissioner, Michel Barnier. Brussels and continues its efforts to regulate the financial system. A logical approach to the EU executive, which means that "no actor, no market can not escape an intelligent regulation and effective supervision."

With this open consultation until 8 December, the Commission wishes to deepen the critical issue of auditor independence. "Is it healthy that the same companies make both auditing and consulting? Does this combination does not lead to a confusion of genres and even conflicts of interest? "Asked the French commissioner.

Less than ten years after the collapse of Arthur Andersen guilty of turning a blind eye to "creative accounting" of the Enron group, he said the issue continues to arise. The other major area of investigation will focus on industry concentration, heavy systemic risks.The Commission is concerned to see that indeed the "Big Four" (Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers) share over 70% market share.

So many ideas are they on their way to Brussels: entrust the appointment and remuneration of the auditor to a third party (the national regulator for example), not the company being audited. Or generalized joint audits, conducted by more than one firm. The idea of a "European passport" should also be thorough, to allow listeners to be active in all EU countries. After analyzing the responses, Brussels will decide next year on the measures to be undertaken.

Between 2.9 million and 899,000 demonstrators

Again, the protests against pension reform that took place on Saturday led to a battle of numbers. According to the CFDT, the day of action against the pension reform has gathered "around 2.9 million" people.

It is "substantially the same number" than last time, as the number 2 of the union, Marcel Grignard. September 23, nearly 3 million people took to the streets, according to unions. The Interior Ministry for its part counted 899,000 demonstrators, a number "down" of 98,000 people.

In Paris, the event attracted 63,000 people according to police, with 3,000 fewer than the day of action on September 23, between 15 hours and 19 hours.The CFDT has tried for his part mobilization "slightly higher" than last time, "around 310,000" people, according to Françoise Laleure, secretary general of the union for the Ile-de-France. The trip was to take the protesters from the Republic Square to Nation. "The families arrived around 15:30 and it still happens," said the unionist.

In Lyon, 40,000 people attended the day of action by trade unions, 18,500 according to police, more in both cases than last time. In Marseille, between 19,000 and 150,000 people took to the streets, respectively according to police and unions. In Bordeaux, between 130,000 demonstrators, according to unions, 31,500 according to police, marched Saturday afternoon. That is more than the previous times, according to unions, less police said.

Processions 229

The day of action consists, according to the CGT of 229 parades held across France against the pension reform.

On the morning parade, the record seems mixed. In the South, the figures appeared in line with previous demonstrations. In the Southeast, the processions were also fleshed out than last time. But in the West, heavy rains were due to the objectives of trade unions to mobilize a more family audience.

• West. In Rennes, 20,000 people according to the unions marched through the streets of the city, a significant decline from the previous day of action on September 23 (35,000).The police, who had recorded 18,000 participants ten days ago, was unable to provide figures at 13.00.

A decline of 40% on average was also found in most smaller towns in the area where demonstrations were held in the morning.

Participation was up in Nantes with the unions and observers, with 90,000 protesters in the late afternoon by the CFDT, or 10,000 more than during the previous day. The prefecture has reported 27,000 participants, representing a decrease of 4,000 people.

• East. The events were attended by 93,000 people according to unions, 24,800 according to police. Saturday morning, 8,000 people marched to Metz by a union official, 3,000 according to police, below the previous movements.

At Besancon, a union source said 10,000 participants and 4,800 police.The respective figures for the previous event Besancon on pensions were 11,000 and 6,100. In Nancy, the unions have counted "at least 40,000" people against "20,000 to 40,000 '23 septembre.La Prefecture amounted to 6,500 demonstrators.

In Strasbourg, they were 25,000 according to unions (22,000 on 23) and 7,000 (7,700) according to the prefecture. In Mulhouse, unions have calculated the demonstrators at 10,000 (13,000), while police said they were 3.500 (4.000).

• South East. In Clermont-Ferrand, about 30,000 people according to unions and 14,000 according to police marched through the downtown, 40,000 and 19,200 respectively cons for police, September 23. In Saint-Etienne mobilization was significant with 50,000 demonstrators, according to unions and 8200 according to the police against a range of 13,500 to 30,000 on September 23.In Grenoble, where unions have given the number of 70,000 people for two days of action, the police, however, recorded a net increase of 19,200 to 22,150 protesters.

At Bourg-en-Bresse, the event attracted about 3,500 people according to police and 10,000 according to unions, a figure slightly lower than the previous parade, with a "net decrease of teachers", said a correspondent AFP. Even back in Roanne, police reported some 3,600 people, against 20,000 to 25,000 according to unions

• South West. In Toulouse, the police had 28,000 demonstrators, unions 125,000. In Clermont-Ferrand, there were late morning nearly 20,000 demonstrators, according to the continuous news channel LCI.

• Noon. In Nice, the procession was almost as provided that during the last day of action on September 23 (7,000 according to police).In Draguignan (Var), more than 2,000 people demonstrated according to police, more than 2,500 according to organizers. In Ajaccio, the protesters were, according to authorities, nearly half as many as there are ten days (1,500 instead of 2,800). In Béziers, the parade was dense, gathering 9,000 demonstrators by SGC (23 September 9500 by the same source).

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Hospitals: deficit reduction

Hospitals continue their recovery. According to the Ministry of Health, their overall deficit reached 497 million euros last year, over 64 billion revenue. An improvement of 13% compared to 2008 (571millions deficit), which already marked an improvement over the "peak" of 2007 (686millions), reversing the trend after several years of deterioration. Over two thirds of establishments were in balance or surplus in 2009 (69% against 64% a year earlier).

Deficits are in fact more and more concentrated on a small number of hospitals, particularly teaching hospitals, including the overall situation, even in the red, is improving. Seven of the 31 university hospitals do not show the "hole" (Angers, Orleans, Nîmes, Limoges, Poitiers, Toulouse, Tours), against only 3 in 2008.Only problem: the Assistance Publique-Hôpitaux de Paris (AP-HP), the result of plunging – 21 – 94 million euro, erases itself the recovery.

The Department is encouraged that these improvements were less than a surge in revenue (+3%, most of which comes from Medicare) as a "cost control" (2.85%). By far the largest item of expenditure, payroll has increased by only 1.89%. Which seems consistent with the estimate announced several months ago by the Hospital Federation of France, that the numbers fell last year of 1,800 officers, more than one million.The department does not, however, confirms the decline, which would reflect a real turnaround.

Paris, Marseille and Lyon

The figure of 497 million euros for 2009, consistent with the projected deficit (which in itself is good news!), Is almost final: it concerns 85% of public and private non-profit, representing 94% of the total financial fast cash advance sector. It covers the "main budgets," usually used for reference, and which correspond to the activity of care of hospitals. The total budgets, which also include activities "ancillary" as training schools for nurses or the "long period", also show a deficit down, to 302 million euros against 392 million in 2008.For the Department of Health, the goal of balanced accounts in 2012 for the entire hospital system is well on track … if we exclude the perimeter AP-HP, AP-HM (Marseille) HCL (Lyon)-ie, the three largest settlements of France, whose recovery will be slower.

Without question the trend of improvement, the Court of Auditors said last week that deficits were discounted by 25% by questionable accounting practices, including depreciation and provisions. The entourage Roselyne Bachelot and refutes talk of "sensationalism". He admits however that "the efforts undertaken must continue" to better recover the amounts owed to hospitals by funds Safely, patients or their complementary.The Court, citing the general direction of the organization of care, notes that "revenue losses related to deficiencies in the billing chain would be between 5% and 15% of hospital budgets!

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The Elysee revises down growth in 2011

The Elysee has ruled. The growth forecast for 2011 was revised downwards to 2%, against 2.5% initially announced by President Nicolas Sarkozy after a meeting between Prime Minister François Fillon and the ministers of Bercy , held at Fort Brégançon.

Accordingly, the government will fall further fiscal austerity. The state spending will be frozen in value over three years. Ten billion euros of tax loopholes and social will be removed in the fall. In contrast, neither income tax nor corporation tax will be increased. VAT will not hit.

"Are we going to save the plane on social niches and tax everything to create employment, all that is relevant, all that sustains the economy, the answer is yes," said on RTL Budget Minister Francois Baroin.

If the government recognizes that 2011 will be worse than expected, the growth target for 2010 of 1.4%, should be well met, "or even exceeded, welcomes the Elysee. "On the pressure of potential revenue will be fully allocated to deficit reduction."

"After a GDP growth of 0.2% in the first quarter, a growth of 0.6% was recorded in the second quarter," said the Elysee. "Given the rebound in activity, the prospect of growth of 1.4% will be reached or exceeded for the year 2010.This also allows, in line with OECD projections, forecast growth of 2% for 2011. "

Find 3000000000

"[This] leads us to the end of September, that is to say, the presentation of the draft budget law to the Cabinet, to be between 3 and 3.5 billion more, which is perfectly achievable, "said Baroin.

The downward revision in growth was expected. Economists considered the unrealistic assumption of the government and rely for their part in an average growth of between 1.5 and 1.8%. For its part, the International Monetary Fund deemed "too optimistic" the official forecast. Recently, Bercy also acknowledged work scenario around 2%.

Banks have again supported the Paris stock exchange

Closing reassuring Wall Street yesterday gave a positive impetus for the Paris Stock Exchange on Tuesday, which has increased its earnings to grow by 1.57% enséance before reducing them after a disappointing statistic across the Atlantic on the U.S. consumer confidence in July.

At the final bell, the CAC 40 is 0.83% at 3666.4 points and preserves the points.Un 3660 this threshold had not been touched since June 22 last. Elsewhere in Europe, the London Stock Exchange closed up 0.27% to 5365.67 points.

French markets were again worn by banking shares. Yesterday, the shares had already boosted the index, in response to the publication of results of stress tests on Friday.On Tuesday, they went into high gear, including Societe Generale climbed 10.59% to 44.22 euros, Credit Agricole, which has soared 10.14% to 10.62 euros and Dexia, which has rose 7.32% to 3.87 euros. Axa and BNP Paribas followed with respective increases of 6.74% and 5.49%.

After trading, the markets will see the unemployment figures for the month of June in France.

In addition, the Department of Ecology has announced that the number of starts of new homes in France fell 0.3% for the period April-May to June, compared to the same period a year ago, while the number of building permits recorded an increase of 25%.

On the foreign exchange market, the euro continues against the greenback.Around 17:30, the euro was trading at just below $ 1.30, but the threshold has been crossed earlier in session.

The U.S. housing close look

Yesterday the key index in Paris managed to keep the threshold of 3600 points despite an early meeting very hesitant. Good numbers of U.S. homes have played an especially comforting to investors. And on Tuesday, rebelote: the Case-Shiller index of home prices meets the individual operators offering. It rose more than expected in May in the United States, +0.5%. The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.

But the Conference Board index, published in 16 hours, fell for the second straight month in July fell to its lowest level since February, to 50.4 in July against 54.3 (revised from 52.9) in JuneAn advertisement that has a little cooled investors.

Publication Burst

On Tuesday, the publications will be honored at the Paris Bourse:

Danone (-4.24% to 44.35 euros) announced before market opening a current net profit in the second quarter of 848 million euros and a turnover of 4.386 billion euros.

Altran (7.79% to 3.25 euros) has reported a turnover of the second quarter 2010 from 357.6 million euros (+2.3%). The group expects a significant improvement in the margin in the second half of 2010.

The Land of the Regions (-0.12% to 72.85 euros) published a recurring net profit increased 1.1% to 153.4 million for its first half, with rents of 264.1 million , up 1.7% at constant scope, and an occupancy rate of 94.4%.However, its net asset value, excluding financial instruments, stood at 73.20 euros per share, down from late 2009 due to the distribution of a special dividend for 2009, consisting of 3 30 euros in cash and six Beni Stabili shares, 52.5% owned subsidiary acquired in 2007

Note that M6 and LVMH will unveil their first-half results after market close. Vinci, Compagnie des Alpes and Fleury Michon publish their turnover for the period also after 17:30.At the same time, Air France KLM (+0.69%) will release first quarter results are.

Sanofi repulsed Klepierre sanctioned

The U.S. biotechnology company Genzyme has rejected a buyout proposal made by Sanofi Aventis (-0.94% to 45.15 euros) according to Bloomberg.

Capgemini (-1.1% to 34.98 euros) has announced the signing of a 6-year contract between its subsidiary Capgemini UK and Royal Mail Group Limited (RMG), the British postal service, for its service management computer.

Klepierre (-2.61% to 25.17 euros), revised down slightly its 2010 targets of current cash flow and rents, the prospect of austerity plans in Europe have slowed the recovery of consumption.

Icade (+1.05% at 73.83 euros) on Monday announced a net profit in the first half more than eight times while its net current cash flow per share, affected by the low profitability of its development division, declined 21%.

April Group (-2.88% to 19.76 euros), saw the decline in sales accelerated to 12.9% in the first half. This is explained by the group with a focus on its brokerage business, which should result in a decrease of 25% of the insurance business in 2010.

Finally, Technicolor (10.81% to 0.41 euros), has received a firm offer from the private equity fund Francisco Partners for the acquisition of the "broadcast professional" Grass Valley.