The CAC 40 lost on the week of 2%

Parisian investors remained very cautious this weekend. After playing with a yo-yo around the figure of 4,000 points, the CAC 40termine on a tentative increase of 0.10% to 3974.48 points. The market remains cautious, with a somewhat expanded level of transactions to 3.5 billion euros.

In London the FTSE-100 index ended on a sharper increase of 0.54% to 5996.01 points. The DAX index of the Frankfurt Stock Exchange also ended with a gain of 0.44% to 7178.29 points.

After opening in the green, the benchmark index in Paris was retaken in negative territory, before settling at 3969 points (-0.04%) in mid-session, uncertain before the publication of a series of macroeconomic statistics both sides of the Atlantic.Furthermore, the return on debt fears of countries in the eurozone, Greece and Ireland head resurfaced, while the rating agency Moody's has once again degrade the debt of Ireland, lowering two notches.

Yesterday, the CAC 40 dropped below the symbolic threshold of 4,000 points, accelerating losses in mid-session and closing down 0.90%, weighed down by disappointing figures for employment and inflation across the Atlantic and especially the fears about a possible debt restructuring, Greek, and the persistent inflationary pressures. Over the entire week, the CAC 40 lost 2.15%.

Asian stock markets have evolved in concert, all in the red after disturbing to Chinese statistics.

Dominant macroeconomic

In this context, corporate and macroeconomic news, very rich on Friday, has monopolized the attention of investors, especially with inflation thematic publications on the subject in the eurozone and the U.S..

Macroeconomic side effect, investors have learned from Paris 8:45 numbers of new businesses in France. In March, they rose by 11.2% over the month, according to figures released by INSEE.A total of 52.819 companies were created during the period, against 47,501 the previous month.

The Paris markets were then alert in the morning, the foreign trade figures for the eurozone in February, marked by a trade deficit of 1.5 billion euros in February, and those of inflation for the month March, revised up to 2.7% (against 2.6% before).

Overseas, the index of consumer prices, published by the Labor Department, up 0.5% from the previous month, seasonally adjusted data, unchanged from February, when the inflation on a month reached its highest level since September 2008.

The Empire State Index said was also expected: it appears to 21.7 in March and 17.50 against 16.90 expected by economists.Industrial activity in the State of New York in April saw its strongest growth this year and under-employment index is at its highest since May 2004, announced the Federal Reserve Bank of New York.

Other major U.S. index published on Friday, industrial production rose 0.8% in March, supported by the rebound in activity in the production of electricity and the strength of the manufacturing sector. Economists on average had expected a rise of 0.5%. Finally, the morale of American households began using this index of consumer confidence from the University of Michigan he moved temporarily to 69.6 for April, while analysts were expecting the decline.

After beginning the week down sharply, oil prices also encourages caution on the Paris exchange. It took off again for two days in the wake of a weakening dollar.In morning Asian electronic trading, a barrel of light sweet crude for May delivery took 38 cents to 108.49 dollars before settling at 108.11 dollars in mid-day. About 18 hours, it reached 109.42 dollars, up 1.19%.

As for currencies, the euro was down against the dollar on Friday. About 18 hours, the euro bought 1.4446 dollars, down from 0.28%.Monday and Wednesday, the European single currency reached 1.4520 dollars, its highest since Jan. 14, 2010.

A battery of turnover in the crosshairs

The side of values, the news is microeconomic richer because of early publication of the turnover of the companies under their first trimester no fax payday loan.

Penalized by the continuing crisis in the euro area, the banks, including BNP Paribas (-1.03% to 52.10 euros) and Societe Generale (-0.90% to 45.225 euros), weighed heavily on the CAC 40.Crédit Agricole lost 1.87% to 11.255 euros, thus completing the second biggest drop of the ACC behind Renault and Natixis 1.66% to 3.962 euros. The unexpected drop in quarterly earnings from Bank of America also weighed on the banking sector.

Conversely, L'Oreal (1.97% to 83.89 euros) signs the largest increase in the CAC 40 in front of Danone (1.76% to 48.595 euros).The latter has the highest gain on the week (3.71%).

Schneider Electric (-0.14% to 109.85 euros) tumbled 9.55% on the entire week. The group has repeatedly denied rumors of any rapprochement with Tyco International.

Sanofi-Aventis: + 1.35%, to 51.86 euros

The lab announced that clinical data from phase II and five years on its positive product alemtuzumab in multiple sclerosis.In addition, the group was looking to divest activities in the U.S. dermatology.

GDF SUEZ: + 0.52%, to 27.235 euros

A consortium of CNP Assurances (-1.32% to 15.36 euros) and the Caisse des Depots (CDC) conducts advanced talks to buy back 25% of GRTgaz, the structure which manages the pipeline of GDF Suez in France for 1.1 billion euros, announced the two parties.

Carrefour: -1.40% to 30.60 euros

The supermarket group has not convinced investors on Thursday confirmed its objectives for 2011, after a quarterly sales in line with expectations.Emerging countries (Asia and Latin America) have offset sluggish activity in Europe.

Alcatel-Lucent: -0.94%, to 4.113 euros

The group plans to sell its division of marketing of mobile and telecom equipment companies, said on Thursday from three sources familiar with the matter, confirming a report in the Wall Street Journal.

Total: + 0.08%, to 41.675 euros

The oil giant said Thursday a proposed purchase of half the capital Tenesol it does not already own at EDF, excluding overseas operations, in order to develop solar energy.

Assystem: -0.12%, to 16.63 euros

The group was in exclusive talks to buy back the family group of services to engineering MPH (90 million euros in turnover in 2010), allowing it to develop in the oil and gas sector.

Rhodia: 0.05%, to 31.315 euros

The specialty chemicals announced Thursday a plan to divest its activities Novacap salicylate and paracetamol.The title remains aligned with the price of the takeover offer (31.60 euros) launched by the Belgian Solvay April 4 last.

Pierre & Vacances: -4.05% to 60.10 euros

The group announced Thursday that bookings for its European division were "broadly comparable" to that of last year, after increasing its half-year sales.

Mercialys: -0.05% to 28.120 euros

Casino Land subsidiary, announced a 7.1% growth of its rental income in the first quarter to 35.9 million euros, up 5.0% in rents charged.

Stallergènes: + 0.19%, to 58.22 euros

The pharmaceutical company specializing in the treatment of allergies, has announced an increase of 12% of its quarterly revenue and said it could raise its growth target of 5 to 7% of its annual sales in light of its interim results .

Eiffage: -0.39%, to 42.96 euros

The Réseau Ferré de France (RFF) announced Thursday it had confirmed the final allocation to the group's contract to build the high speed line (HSL) Bretagne-Pays de la Loire, with a view to coming into force in summer .

Note that Aéroports de Paris (1.25% to 62.32 euros) will release the figures after market air traffic for the month of March.

Carrefour success of the strike, the talks will resume

Unions are rather relieved. After fears Friday that their call for the strike falls flat, following the announcement last minute by the management to reopen salary negotiations, they have welcomed a widely followed mobilization Saturday. Employees hypermarket distribution group were in fact called by four unions to strike on April 9 to protest among other things against salary increases for 2011, considered insufficient. The appeal was launched in late March by the FGTA-FP, the majority union at Carrefour (with more than 45% representation), and supported by the CGT, CFDT and CGC.

In total, employees of French retail group came to mass protest around the shops in this traditional day of great crowds in hypermarkets.According to estimates by trade unions, the movement has been widely followed (50 to 85% of striking workers) in 130 of 203 hypermarkets in the group. Over thirty sites have been completely blocked, preventing access of employees supermarkets. Even when they were not completely blocked, the strike rate has varied between 30% to 85% as estimated by Dejan Terglav, general secretary of the FO-FGTA reported by AFP. "The regions have been mobilized over the North Brittany and the Centre", said the unionist. When contacted, the management of Carrefour has not confirmed those numbers, ensuring that all supermarkets remained open and were greeted customers.

Union representatives Friday morning anticipating a high rate of mobilization of employees. A rare occurrence in a group unaccustomed to large-scale social movements."Especially since the announcement of the reopening of Carrefour wage negotiations Wednesday could deter some people from coming forward. But reopening negotiations, it does not mean to succeed "insisted Dejan Terglav.

"It's a movement that looks pretty memorable," confirmed Frank Gaulin, Steward central CGT. For his part Frank Gaulin central CGT union representative called the move "memorable" and hoped that "management sees fit." Jean-Claude Mailly, secretary general of the Workers' Force (FOR), came Saturday to support the movement at the site of Le Mans, on strike for 80%. "People want a redistribution within companies.When they are unwilling to do that, there is a strike, "said union leader, also claims that" a device to make compulsory the transport allowance in all enterprises. "

Insufficient wage increase

While management offers its employees a 1% increase in wages to March 1 and another 1% increase on 1 October, union officials estimate that these proposals do not cover inflation announced by 2% instant payday loans. "I do not really represents only 1% over the year," says a leaflet distributed by the FGTA-FO, which requests that the increases are decided once a year. The promise of recovery to 10% (against 7% previously) discounts on purchases of stores, and the announcement of the reopening of negotiations next Wednesday, will not suffice to bring back the union leaders on their decision.

Indeed, beyond wages, discomfort is increasingly strong-side conditions of use and new methods of work since arriving at the head of the group of Swedish Lars Olofsson, in January 2009. In total, FGTA-FO amounted to 10,000 the number of jobs cut since 5 years, and denounced a "new business model based on night work generalized ultra simplified workflow and increased employee stress .

The union also stipulates that future negotiations with management will not only wages and, even in case of high wage increase, it will not bend on the claims concerning the improvement of working conditions.

Opposition to the plans of division

While President Nicolas Sarkozy on Thursday expressed its willingness to link salaries to dividends, the unions could ask for more support for their speeches. For the third and final major demand, workers are opposed to the division by trading in the subsidiary Dia hard discount and the 25% of the land Carrefour Property. According to unions, these purely financial transactions would bring six billion euros to the two main shareholders, Bernard Arnault and Colony Capital (14% stake and 20% of voting rights between them).

In the words of Dejan Terglav in Les Echos reported on Friday, the organization also wants the Mutual Fund Business (CIPF) 'vote against the division (at the next general meeting of June 21 ed.)CIPF owns approximately 1.33% of the shares but the double voting rights "said the union leader. Bringing to nearly 4% the number of shareholders opposed the project, with the fund Knight Vinke (more than 1% of capital). But for now insufficient to meet a third of votes needed to derail the project.

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BPCE has fully reimbursed the state aid

The schedule has been respected. BPCE announced Thursday it had fully reimbursed the state. Perol, the CEO of the institution, committed during the presentation of its annual results on a closure of the transaction by the end of March. In detail, the Treasury BPCE bought 1.2 billion euros of its preferred shares and 1 billion euros of hybrid debt securities.

In 2010, the group merged the Savings and Banques Populaires, said it earned 3.6 billion euros. Is this good result, seven times higher than that reached in 2009, which allowed him to repay the last installment. In total, the group received $ 7.1 billion in capital for the state: Before the merger, the Savings and Popular banks had received respectively 2.2 billion and 1.9 billion euros in the form of hybrid debt securities.A group creation BPCE in early August 2009, Bercy brought additional 3 billion euros by investing in preference shares. Public support was not gratuitous. The bank's remuneration in the form of state interest and dividends and the total capital injection it will cost 815 million euros.

At the heart of the financial crisis, all French banks had benefited from a $ 19.8 billion. Crédit Mutuel-CIC (1.2 billion), BNP Paribas (5.1 billion), Societe Generale (3.4 billion) and Credit Agricole (3 billion) had all returned to the fall of 2009 the funds loaned by Bercy .

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"The hierarchy of French banks bewildered

Renault management is increasingly isolated

How far will go the extravagant case of industrial espionage that poisons every day Renault? In the wake of testimony by Patrick Pelata has acknowledged for the first time in Le Figaro, "a number of elements lead us to doubt" and mentioned the idea of a "manipulation" before turning his position as Chief Operating Officer on the spot, the reactions have little overdue. They have mostly endorsed what looks like a sacrifice programmed. Friday morning, Christine Lagarde has considered the No. 2 company "had the dignity to indicate that he might be mistaken, and that if it was proved he was mistaken, he would draw all the consequences. ""I think it's worthy" by Patrick Pelata, said Minister of Economy in claiming that "we arrive at the truth, it gets there quickly, if the suspicions were unfounded, justice, confidence is restored and compensation is paid. "

In the same vein, his counterpart for Industry, Eric Besson, has confirmed that management problems are posed "if it is the manipulation hypothesis, which dominates in the end." Before adding: "I also noted that Mr. Pelata, very dignified and quite logically, has already warned that he would draw the conclusions for himself." Finally, the Elysee does not hide his irritation."This case, bad for the image of the company, not the show great professionalism," has dealt a collaborator of Nicolas Sarkozy.

• The direction of the group's safety should she not slipped by using methods of spooks?

The internal investigation, legal "point of French law", as claimed by Patrick Pelata, was conducted by a team composed of fairly baroque Remi Loincloth, formerly of the DGSE, Marc Tixador, the former PJ Versailles, and Dominique Gevrey defector from the Directorate of Protection and Security of Defense (DPSD) readily described as a "central figure" in this story. Like a bad spy novel, a sum of 100,000 euros has transited into five payments last fall in Madrid via L. Michel, a former paratrooper became a private investigator.

Agreeing to play the "biller for the defense of French interests," it is simply a "short circuit" used to confuse the trail to a mysterious Mabrouk and "external source" who reportedly discovered ghostly accounts opened in Switzerland and Liechtenstein by the three executives on suspicion of espionage. Since this information just communicated orally, have been questioned, the manufacturer does not even seem able to identify his "deep throat": the only employee of security service who knows stubbornly refuses to cooperate. To protect at all costs or to hide an embezzlement to the detriment of Renault? As a confession, Patrick Pelata conceded: "We erred in not involving the DCRI earlier."

• What are the collateral damage to Renault?

The damage in terms of image are significant.While the group had been traumatized by the suicide of three employees of Guyancourt Technocentre late 2006-early 2007, serious questions arise again on his management style. Renault seems to be a company where one can accuse and dismiss employees without evidence, solely on the basis of anonymous testimony. This case falls ill while the group was counting on its electric vehicles-those who have supposedly been spied-to repair its image. Sales of these cars and the entire range will suffer they? Hard to tell because the picture-in determining whether the act of purchase and also depends on products. But the group will leave with a disability. Adding that "it's all business operations that may be seized, as management has been discredited, analysis framework, which adds it will take time before confidence is restored."

• Carlos Ghosn is he in trouble?

If the spy case deflates, the group took a huge risk by raising its CEO at the forefront in the media. In the JDD, January 23, he said he "personally monitoring the progress of this process as and when." The same evening, on TF1, Carlos Ghosn has hammered that he had "certainty" about the guilt of the three frameworks and evidence had "multiple", but did not disclose. On 10 February, at the announcement of the strategic plan, the CEO drove home the point by asking him to "trust" because "tens of people have analyzed the facts."In case of "manipulation", the question remains whether the employees and the government will simply sacrifice his number 2.

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Lafarge expects to reduce its debt

Unsurprisingly, Lafarge announced on Friday a further increase in its results last year, as expected. Net income, group share, has increased 12% to 827 million over the past year. Similarly, the EBIT (ROC) is no surprise to 2.4 billion, down slightly by 1%. As for turnover, it was up 2% to 16.2 billion euros, again in line with the expectations of analysts, who were banking on 16.1 billion euros.

Above all, the French cement manufacturer wants to decrease its debt. And this indicator is particularly monitored by the markets since the acquisition of the Egyptian Orascom in 2007. In 2010, the group has already reduced its structural costs of 220 million euros, 50 million in the fourth quarter, "reducing its structural costs above target," says management.

And building materials giant expects to reduce debt this year. It expects an acceleration of net debt reduction of at least two billion euros via a "reduced cost base, the startup of new capacities and the implementation of measures to limit the effects of cost inflation low interest personal loan." At December 31, 2010, net debt stood at 13.993 billion Lafarge euros.

More broadly, the group posted a positive outlook for the current year. Lafarge "anticipates its market growth in demand for cement between 3% and 6%." And the group chaired by Bruno Lafont expects prices rose on the year with an amplitude varying from one market to another. Thus, management expects "growth in its results in 2011 in a context of rising volumes. Emerging markets remain the main driver of demand growth.For developed countries, demand should continue to recover gradually, said Lafarge.

In addition, the group will propose a dividend cut in half to one euro.

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The CAC 40 returns to the 4000 points

In Paris the CAC 40 has remained in limbo (-0.30% to 3964.84 points) yesterday, Thursday. But this Friday, the index resumed height: the gains are highlighted throughout the mtinée developed to find the famous psychological barrier of 4000 points. Around noon, he climbed from 1.09% to 4008.24 points.

Factor supporting this day, the morale of French manufacturers, which continued its gradual rise in January, with a sharp jump of six points from the previous month to 108 points, the sentiment index of all the winning business it a point to 106 points, Insee said Friday.

But also and above all, good news from Germany has added some balm to the hearts of investors.The barometer of the Ifo business climate, leading confidence index in Germany has reached a new record in January at 110.3 points against 109.8 points in December.

This morning, Asian stock markets overall declined sustained change, and yesterday afternoon, Wall Street has ended at equilibrium, as investors opted for caution amid speculation about new Chinese measures to prevent overheating of the second world economy .

The appointment on Friday, the monthly business survey in industry and services by INSEE. Then 10 hours, the German Ifo index will be monitored.

On the foreign exchange market, the euro is trading above $ 1.35 on Friday. The euro has gained strength this week against a background of successful bond issued by European countries like Spain and Greece.In front, the dollar depreciated while Barack Obama has welcomed Tuesday its Chinese counterpart and called for yuan appreciation.

Sanofi-Aventis is expected to extend its offer for Genzyme

Genzyme's offer to come to an end this Friday, January 21.

Vivendi balance to 21.56 euro Judgement of the Criminal Court of Paris in the trial of Jean-Marie Messier.

Renault: 0.75% to 47.22 euros The three executives in question have filed a complaint and will vigorously defend. The doubt settles. Renault's CEO will speak Sunday evening.

Kaufman & Broad: 0.62% to 24.40 euros The group announced on Thursday night have returned to profitability in 2010 and 21% had reduced its debt after a year marked by an upturn commercial guaranteed approval cash loans.

Somfy: 1.57% to 185.90 euros The shutters specialist announced a revenue increase of 12.1% for its fiscal 2010 to 852.6 million euros. Sales have benefited from buoyant activity in Germany, Central Europe and East and France. They have offset lower sales in Northern Europe.

Damartex: -3.40% to 23.04 euros The apparel retailer reported Thursday evening sales up 3.8% in the first half of its fiscal year 2010-2011, 385.3 million euros.The group, which owns the brand Damart, has not made a forecast for the coming quarters.

Schneider Electric (+1% to 111.10 euros) on Thursday confirmed the closure of its plant in St. Pryvé St. Memin (Loiret) managed by one of its subsidiaries.

Air France-KLM The company goes from 1.84% to 13.56 euros after posting seven consecutive sessions of decline with a drop of more than 4% Thursday evening after closing the warning on the results of EasyJet yesterday.

Scor (balance) announced Thursday it had successfully placed 400 million Swiss francs of perpetual subordinated securities.

CGG Veritas (1.49% to 24.41 euros) announced that it has finally issued 360 million euros in convertible bonds after exercising the over-allotment option.The group had initially planned to issue 315 million euros.

APRR: +0.10% to 51.38 euros The motorway company has reported a traffic increase of 1.3% in the fourth quarter, offsetting heavy traffic traffic light vehicles affected by snowfall and shortages of gasoline in the early fall.

Compagnie des Alpes The leisure group said sales growth of 1.41% in the first quarter of its fiscal year 2010-2011 supported by a good attendance of its ski areas through early snowfall observed in late 2010.

Veolia Environnement Groupe Industriel Marcel Dassault, the holding of the Dassault family, announced December 31, 2010 hold at 5.37% of share capital and voting rights of society in environmental services.

Cegid reported Tuesday a turnover up 0.4% for 2010 and expects a net profit increase for its entire fiscal year.

Technip announced Friday it had won a contract refinery in Bulgaria worth 70 million euros.

New sales record for that mimics PSA Renault

And Renault now! PSA Peugeot Citroen announced last week a record 3.6 million vehicles sold worldwide in 2010 (+13%), the Renault was 2.6 million, an increase of 14% over 2009 (2.3 million). The last record of the mark in diamond was achieved in 2005, the group had now sold 2.5 million vehicles. Suddenly, the Renault was around back to balance in stock, gaining 0.03% to 47.26 euros in a market down sharply from 1.42%. For his part, Peugeot remains mired in the depths of the ranking of the best performances of the CAC 40 on Monday, losing 1.71% to 30.97 euros.

Furthermore, the manufacturer owns 3.7% of world market which itself marked an increase of 11.8%. All regions where the group is now progressing in volume and market share, says in a statement.

Renault, Dacia and Samsung Motors are progressing

The three brands Renault, Dacia and Samsung Motors have increased in volume, according to Renault "to take second place in Europe the market for passenger and commercial vehicles, with an increase of 0.8 percentage points in market share."

"We welcome the results of the group's record sales in 2010, surpassing the 2005 record", says Jerome Stoll, Deputy Director General Trade and Commercial Vehicle Group, said in the statement.

In Europe, the group as a whole rose by 1.1 point in market share and increased its sales by 7.4% to 1.6 million vehicles in a market down 3.6%.

Outside Europe, the manufacturer continues its growth with a 26% increase in sales volumes, nearly 983,000 vehicles sold.These sales represent 37% of the total volume internationally, against 34% in 2009.

Xavier de Moulins leaves Paris Premiere

Xavier de Moulins host of the weekly political show "My handsome mirror on Paris Premiere, has decided to stop the cooperation from Sunday, December 19.

M6 Group, owner of the channel Paris Première, asked him to devote himself full time to the presentation of JT from 19:45 M6 whose audience has exceeded twice the 3 million viewers. In July 2010 that Xavier de Moulins had taken control of JT, which was launched by Claire Barsacq in September 2009.

Xavier de Moulins Paris last long presented on cable channel TNT and pay.

China challenge Boeing and Airbus

The star at the Zhuhai Airshow, which opened its doors on Tuesday in southern China, is an aircraft that does not fly! Dozens of Chinese officials, surrounded by a myriad of bodyguards, converged on the lounge where was announced with great fanfare the first order for a hundred C 919, the future Chinese airliner. In honor guard, models with different dresses buyers everything about the pioneers, four major Chinese airlines (Air China, China Eastern, China Southern Airlines and Hainan) and two leasing companies, one Chinese, Guoyin Financial, and one American, GE Capital Aviation Services.

This command adds body 100 aircraft program Comac (Commercial Aircraft Corp.. Of China), which provides a first test flight in 2014 and the first delivery from 2016.The C 919 is a single-aisle aircraft from 168 to 190 seats, short or medium-haul and, therefore, a direct competitor of the Airbus 320 and Boeing 737. Boss of Airbus China, Laurence Barron wanted yesterday serene face of this threat. And he refused to make the connection between the Chinese orders and more modest than expected signatures harvested during the recent visit of President Hu Jintao in France, 66 new planes including some fifty family A 320.

"For ten years, there is no significant impact to fear. Then, we start by 2025 with innovative products and competitive, "he confided, he takes time to install such a program. If they manage to produce four planes per month in 2018 or 2019, it will already be a performance 100% free credit score.This would represent 48 aircraft per year, whereas in this niche device, needs Chinese are estimated between 150 and 180 aircraft per year. "

Strategic partnership between Saffron and Avic

In 2010, Airbus expects to deliver 111 aircraft in the country representing 20% of its backlog. On Tuesday, the Taiwanese company TransAsia has announced a firm order for two and six A 330 A 321, over $ 1 billion. Chinese air traffic growth continues at breakneck pace of 20% per year. The Chinese fleet, which is still only one third that of the United States, is expected to double by 2020, and 4000 devices may be ordered in the next twenty years.

The rise of command of C 919 is also popular among the French Safran."One hundred aircraft, 200 engines and is an excellent sign," said Marc Ventre, No. 2 in the group that will provide – with its U.S. partner GE – the propulsion system of the aircraft. The creation of a new joint venture for the construction of the engine nacelles was initialed yesterday. Safran has also signed a "strategic partnership" with Aviation Industry Corp. of China (AVIC), which will create a strategic committee shared by the two allies. Turbomeca (SAFRAN Group) has also won a contract for 170 engines.

Other French interest in the takeoff of the C 919, Thales, who announced the creation of a joint venture in China aimed to provide in-flight entertainment system C 919.

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.