International Headlines and Stories

The euro rose again on Monday morning against the dollar. It rated 10 hours to 1.2430 dollars, after touching 1.2460, an increase of 4.6% since it started bouncing on June 7 last, when the exchange rate euro / dollar rate was 1.19. A fast pace for the foreign exchange market.

China, usually accused by Western countries to maintain the exchange rate of its currency artificially low, just a surprise. A week before the G20 summit, the Chinese central bank announced the end of two years of indexing the yuan to the dollar. The aim is to gradually revalue its currency in order to regulate the Chinese economy, which is based on thirty years export.

To believe in technical analysis, "a great potential rebound comes." The first significant resistance (level on which the exchange rate risk of stumbling) is 1.27.Above, the parity would take the lead of 1.33. The trend is now positive short-term above 1.19.

Why such an increase?

The reason for this rebound is mainly technical: the euro has fallen too quickly in recent weeks, the currency had to breathe. Indeed, on 1 January, the euro was trading at $ 1.44, and in December 2009, it was worth even $ 1.51. In other words, between the highest and the lowest point reached in early June to 1.19, the euro has fallen more than 21%!

Other mechanical reason of the rise of the euro: the decline of the dollar which causes the exchange rate euro / dollar rising payday loan. But the greenback fell amid indices acclaimed. "Historically, there has always been an inverse relationship between the U.S. equity market and the greenback," said the chief executive of Saxo Bank, Pierre-Antoine Dusoulier.

And since the announcement of China, which paves the way for a separation of the link between the yuan and the dollar, the yuan prances its highest levels since July 2005. The renminbi, another name for the Chinese currency, reported a record on the interbank market at 6.8089 against the dollar. Faced with the rise of the yuan, the dollar fell back automatically.

The trend remains bearish background

In the medium term, despite five times the highest drop since last December, the trend is still fragile.Even if the single currency does not seem too responsive to European concerns on the health of public finances of countries – including Spain rumors, denied – the macroeconomic situation on the continent remains sluggish, between sluggish growth and unemployment Box, accompanied by rigid budgetary policies.

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Provide access to fiber optics to every home by 2025. A project championed by Nicolas Sarzkoy in February, which would cost 30 billion euros. If the Secretary of State for the Digital Economy, Nathalie Kosciusko-Morizet, announced Wednesday at the fourth "Focus on the high speed" it had mobilized in 2011, about 7 billion euros over four or five years, it is far short.Recall that the need for public funding is in a range of 8 to 10 billion euros in five years.

Even with two billion euros loan from the general and the possible contribution of European funds for "a hundred million a year," the senator from Eure Hervé Maurey, to prepare a report on the financing of high Speed – the first version will be given to the Prime Minister during June – ruled yesterday that it will be difficult to escape a new tax, either on business or on consumers.

"We must find a tax with the broadest possible base for the rate is as low as possible," he argued.

Traders feel targeted by the tax

This ad is not to please operators, already cooled by the tax on broadcasting.At the outset, the secretary general of France Telecom, Pierre Louette has stepped into the breach at the meeting, suspecting that those "on which the tax will fall are always the same."

As for the alternative operators, represented by the assocaition Aforst, representatives denounced a measure that not n'impulserait development project, contrary to claims Hervé Maurey. This is not by reducing "the ability of investment" is encouraged operators operators, says the group.

In March, Martin Bouygues, head of the eponymous group, has raised its voice against the accumulation of taxes and regulation in general in the area.Its subsidiaries Bouygues Telecom and TF1 suffer, he said during the presentation of its 2009 results.

2 million households connected in 2011

According to Arcep, 80,000 French households currently subscribe to the optical fiber while 800,000 are connected to this technology that provides access to the Internet so much faster than ADSL.

Arcep expects more than two million households in France connected to the optical fiber in the summer of 2011.

Free starting to invest with France Telecom

In an interview with Le Figaro on June 2 last, Maxime Lombardini, the CEO of Free, said that France has a competitive environment for Internet broadband.

He said "France is ahead" in technology."France is at the forefront in Europe, thanks to a very successful framework that enables rapid deployment of fiber networks without digging sidewalks and minimizing interference in the condominium through pooling. "

Note that operators will invest together in the optical fiber. France Telecom has also launched an appeal to its competitors. Free has responded.

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Markets were waiting impatiently for the pension reform. Legal age to 62 years pushed, extending the contribution period, rising tax burden … how the government's announcement they will be welcomed by the markets and rating agencies? The AAA rating of France, the best, is the subject of any concerns at Bercy. The goal is to maintain "tight", even said Budget Minister Francois Baroin.

Bercy assured, reports Reuters: "The evaluation of this kind of reform can only be positive by the rating agencies." Ministry experts have calculated that the increase in 60-62 years of age of retirement accounts for 1.2 million jobs and four percentage points of GDP over the long term.Moreover, "these reforms contribute to improving the deficit by about 0.5 percentage points of GDP by 2013, according to the entourage of Christine Lagarde.

"Reform is obviously in the right direction, because the current situation is untenable," responded Dominique Barbet, economist at BNP Paribas market IP. Delaying the retirement age to 62 years is applauded Payday Advance No teletrek. "The symbol of the abolition of the 60 years is important, it is easier to move it more later if needed," said Gilles Moec, economist at Deutsche Bank. The pace of transition to 62 years, faster than originally envisaged, was also approved.

If the limit of 63 years has finally been abandoned, "the government's plan is fairly aggressive in the speed of implementation of the device, which should be effective by 2018", says Dominique Barbet."The unions were expecting perhaps a less violent transition, and the rating agencies at a faster passage. The government must allow both. "

Doubts remain. "I'm not sure whether the final reform" asks Gilles Moec. The growth assumptions Guidance Council retreats are indeed optimistic, with an unemployment rate of 4.5% in 2020 for example. "It also depends if employees choose to work longer to get a full pension, or if they prefer to leave earlier."

Sperian Protection Company, specializing in personal protective equipment, issued a statement Monday announcing the takeover bid (OPA) friendly Menelas France SAS, owned by the investment fund Cinven, is extended until on May 21, 2010. The statement also indicates that Sperian has received other expressions of interest "proposals, serious (…) purchase at valuation levels significantly higher than that of Menelaus France SAS. For analysts of CM-CIC, "everything is possible".

Cinven announced last March 31 a proposed takeover bid at 70 euros per share, valuing the company at 536 million euros. The offer is considered "very generous" by analysts at Natixis, given in particular the good results of Sperian first quarter of 2010 (the organic revenue was up 16%) and developments in the euro dollar-positive group.

The bid has been received Cinven Favoral by the two shareholders of Sperian, Essilor and Dalloz, which together hold 28% stake Sperian easy payday loans. In contrast, the third shareholder, the fund Governance for Owners, which owns 10% stake, had expressed doubts about the offer price, equity and the "treatment of minority shareholders."

The names of two U.S. companies are cited

According to SocGen, a cons-offer could be made by U.S. companies like Honeywell and Kimberly-Clark have "a significant advantage in view of the euro / dollar." Societe Generale expects an offering price of between 80 and 101 euros.

The bank now recommends to "buy" the title Sperian, she previously advised to "keep".Societe Generale is one of over 90 euros on Sperian.

Meanwhile, the title Sperian continued to climb, showing the largest increase in the Paris Stock Exchange on Tuesday to 10.60%. Around 11:30 am, the share rose to 87.04 euros, a price above the offer of Cinven, a market up 1%.

The U.S. stock market opened on a note undecided on Friday, after aligning Thursday for a sixth straight session of gains, led by the industry.

The Dow Jones opens up 0.19% at 11,145 points after six consecutive sessions of progression and a new peak not reached in a year and a half.

The Nasdaq resumed its souflle: it fell by 0.41% in early trade to 2506 points, but preserves the 2,500 points. And the S & P 500 lost 0.3%, ?1.208 points. The milestone of 1200 points is preserved. Yesterday, the Nasdaq finished at the highest level since June 5, 2008, the S & P 500 since September 26 of that year.

Consolidation is expected.The motion correction has been faster because of Dox Jones, who went into the red, a few minutes after the gong: he lost to 15H35, 0.12%, to 11,132 points.

New homes expected

On the foreign exchange market, the euro continued its decline against the dollar, penalized by renewed concerns about the ability of Greece to cope with its budget crisis and when Athens began to initiate procedures to activate the Plan aid from Europe and the IMF. In the morning, the European currency was worth 1.3527 dollars against 1.3574 dollars the previous day.

Today on Wall Street, investors will monitor the numbers of starts of new housing in March and the index of consumer sentiment in the United States.

A new series of major publication is also expected on the side of U.S. companies.Bank of America (-1%) and Mattel will unveil figures of their first quarter, while General Electric will issue its second quarter of those displaced.

Google view

Google announced Thursday after the close of U.S. markets have performed over the first three months of the year a net profit of 1.96 billion dollars, 6.06 dollars per share, against $ 1.42 billion (U.S. $ 4.49 per share) over the same period last year. In the first three months of the year its sales climbed 23%. The titles, however, slip 4.7% to 567.39 dollars.

In addition, the Financial Times, real estate investment fund Whitehall Street International managed by U.S. bank Goldman Sachs has lost almost all its value, or 1.8 billion dollars (1.3 billion euros) .On Wednesday, the Wall Street Journal revealed that another major U.S. bank Morgan Stanley had lost 5.4 billion dollars (3.95 billion euros) in investment properties, including the headquarters of the European Central Bank Germany.

Always on the side of values, yesterday, UPS, considered a good barometer of economic activity in the United States, announced a sharp rise in profits.

The U.S. stock markets have recently experienced six consecutive weeks of increases, and a record level since September 2008, continues its momentum. The Dow Jones opened down 0.07% and the Nasdaq 100 0.11%, but the disappointment of Alcoa's results did not last. The eyes are now riveted on the release of Intel's after-hours trade, which will sign a series of results from technology stocks.

On Monday, the Dow Jones gleaned 0.08% to increase the threshold highly symbolic 11 000 points for the first time since September 2008.

On the foreign exchange market, the euro continues to strengthen against the dollar, after surging the day before with the announcement of details of the rescue plan for Greece.In early afternoon, the European currency was worth 1.3614 dollars against 1.3585 dollars in morning.

Oil continued to fall

Side oil, black gold connects its fifth session of declines, traders are concerned about the continuing rise in oil stocks in the United States.

On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for May delivery finished at 84.05 dollars, down 29 cents from the previous day.The courses, which had exceeded $ 87 last Tuesday in New York for the first time in a year and a half, have lost about three dollars in five sessions.

The U.S. Department of Energy shall broadcast Wednesday's weekly statistics on trends in U.S. oil reserves, and analysts expect the announcement of an eleventh consecutive week of increase in crude inventories.

Palm loses ground after a flight

The week will also be crucial for the U.S. markets with the opening ball of the quarterly results. As usual, the aluminum giant Alcoa (-1.92% to 14.29 dollars) which gave the start of the season publications, Monday after the market closes. The U.S. producer of aluminum remained in the red in the first quarter, however, divided more than double its loss a year.Alcoa recorded a net loss after minority interests of 201 million over the first three months of the year, against a deficit of $ 497 million a year earlier.

Today, the computer chip manufacturer Intel (0.50% to 22.65 dollars) will follow. The next week will be hosted by Google's quarterly results (0.83% to 577.31 dollars), General Electric (0.91% to 18.88 dollars) or JPMorgan Chase & Co (0, 27% to 46.26 dollars).

Always on the side of values, yesterday, the U.S. oil group ConocoPhillips (0.02% to 55.97 U.S. dollars) has announced the sale of its Chinese Sinopec stake in Canadian oil sands project Syncrude for $ 4.65 billion dollars (3.42 billion euros).This is one of the largest investments ever made by China in North America.

The manufacturer of PDAs and mobile phones Palm (-13.08% to 5.25 dollars), would seek a buyer. Bloomberg said the investment bank Goldman Sachs and Qatalyst Partners were commissioned to find a buyer to the manufacturer of smartphones in serious financial trouble. Action Palm and jumped over 17% Monday to the New York Stock Exchange.

This had not happened since September 29, 2008. Minutes before the close of Wall Street, the Dow Jones surpassed 11,000 points. Ultimately, the New York index closed at 10,997 points, up 0.64%. On the Nasdaq, it rose 0.71% to 2454 points.

Despite an increase in enrollment weekly unemployment and a shrinking numbers of consumer credit, U.S. investors appear to have courage and choose again, these days, for optimism. They show little worried, finally re-emerging doubts about the ability of Greece to honor its debts. Perhaps partly because, unlike the French or German banks, U.S. banks are not exposed directly to the crisis in Greece.Banks also suspects for 18 of them have, over the last 5 quarters, artificially reduced their debt just before the quarter end.

No significant new flag is expected before Monday, except on Friday, numbers of U.S. wholesalers' inventories for February, which rose 0.6% in February, more than expected, according to figures published Friday by the Commerce Department.

Yesterday, while European stock markets in the green-mountain this morning showed an average decrease of 1% of their stars indices, the Dow Jones closed 0.3% awarded in the S & P 500 also, and the Nasdaq Composite 0.2%. One way to greet the rise, much higher than expected, sales of major U.S. retailers: Index by Thomson Reuters, they rose in March by 9.1% against 6.3% expected, the highest since 2000.Taking advantage of some better weather, 28 distributors have seen their turnover increase by over 9% a year, a further sign of improving consumer confidence payday loans. GAP (1.06% to 24.85 dollars) has seen its turnover grow by 11% against 3.7% expected and Kohl's (0.37% to 56.84 dollars), 22.5 % against 12.4% expected. In the luxury, Nordstrom posted sales up +16.8%.

These values should continue to lead the coast on Friday, and Apple (0.77% to 241.79 dollars), which announced yesterday a new version of its operating system for the iPhone and iPad and sales 450 000 iPad since Saturday.

After the markets have reacted positively on Thursday, rumors of merger between the airlines U.S. Airways and United Airlines, the two companies have had mixed fortunes in the New York Stock Exchange on Friday.U.S. Airways lost 3.05% to 7.32 dollars, while UAL, parent of United Airlines has gained 1.33% to 20.50 dollars. UAL is in talks with U.S. Airways for a combination that would create one of the largest airlines in the world, according to The New York Times and the Wall Street Journal. This operation would be carried out no exchange of shares.

China's ambitions Tiffany (0.73% to 49.79 dollars), who wants to spend ten to thirty five the number of stores across the Rising Sun could give impetus to the value.

The California oil company Chevron (2.37% to 79.50 dollars a barrel) announced yesterday the results on the first quarter of 2010 as the fourth best in 2009. The group takes advantage of the rising oil prices and a possible improvement in refining margins.The major U.S. must publish its accounts on April 30.

In the pharmacy, the distributor McKesson Corp. (-0.06% to 66.56 U.S. dollars) has announced it will sell its Asia Pacific unit, which provides health services through telephone and Internet, Medibank Private Limited. Giant Australian health services and insurance.

The CAC 40 is expected to start Thursday's session in the red, in the wake of U.S. markets yesterday and Asian stock markets this morning. On Wednesday, the CAC 40 closed 0.67% in decline and ended at 4026 points.

Around 8:15 am, the CAC 40 index futures to predict an opening in April 2010 were down 0.38% to 4014 points.

The Greek situtation continues to worry, with its market "disconnected from reality", according to analysts. Wednesday noon, the Greek rate climbed to 7.176%.

The euro declines further against the dollar Thursday in favor of safer currencies considered as the yen. Around 8 am, the euro stood at 1.3332 dollars against 1.3339 dollars on Wednesday in 23 hours.

The ECB decision this afternoon

In France, the day will begin with the publication by the customs authorities of foreign trade value in February (at 8:45).The Department of Budget, at the same time, unveil the monthly statement of the State budget through February. Regarding the euro area, 11 hours, investors will pay particular attention to the retail trade, still for the month of February.

But the decision of the ECB (European Central Bank) on interest rates from the European Union will be scrutinized even more closely. If the status quo is widely expected, any change of tone in the speech of Jean-Claude Trichet could be perceived as a sign of a future monetary tightening.

In the U.S., the most watched weekly claims for unemployment benefits, at 14:30, will be published.Wednesday evening, Ben Bernanke, the Fed chief, said the United States are not "derived from business" and that the country will have to make sacrifices "inevitable" to resume a stronger growth.

Lagard?re pressure

On the alliance Renault-Nissan and Daimler, Dieter Zetsche, CEO of Daimler, has welcomed the agreement. With their partnership, both groups rely on synergies and economies of scale to 2 billion euros each. They also intend to expand their cooperation. "It's not good at the right time, and for good reasons," he said Wednesday at a news conference.

Furthermore, tensions are growing between Lagard?re and Wyser-Pratte. The activist investor has scored two resolutions to the General Meeting of April 27.Note that since March 25, when the Franco-American investor said it held 0.53% of the media group, Lagardere's share rose almost 10%.

According to Les Echos, Airbus, EADS subsidiary, has 60 orders since the beginning of the year. Airbus has delivered 122 planes during the period for airlines including three A380s.

Maurel and Prom of 2009 results published in the red but was confident for 2010. The oil company proposed a dividend of EUR 0.10 (cons 0.35 for 2008).

EADS, Airbus's parent company, it going down into the arena against Boeing in an attempt to win a giant contract for 35 billion dollars to supply the U.S. Air Force 179 tanker aircraft? The Pentagon has declared its readiness to extend 60 days of the closing date of the new tender for all EADS decides to apply. The giant European aerospace must inform the Pentagon beginning in May If EADS contributes again, the two candidates have until July 9 to respond to the call for tenders, the Pentagon will render its verdict this fall.

This proposal of the Ministry of Defense, Boeing has missed Thursday comes in the wake of the Obama-Sarkozy meeting in Washington. The two presidents have sought to calm the sceneBarack Obama has promised that the tender would be fair, Nicolas Sarkozy told to trust the President of the United States and found that EADS should respond.

Today, there is no reason to think that the Pentagon will change the 400 evaluation criteria for the tender as Northrop Grumman, EADS ally, was considered biased and cut on able to benefit Boeing and its 767 KC B facing the Airbus A 330 KC. In early March, Northrop decided to throw in the towel and not to compete; EADS had followed.The duo had yet won the contract in 2008 but was canceled.

If the criteria do not change, why it would persist EADS? The stakes are high because Airbus is counting on this contract to settle industrial United States with an assembly plant in Alabama to become a supplier to the Pentagon and a leading market player in the military world.

Therefore EADS can withdraw without having explored all avenues. "The Pentagon is not a political stance: it has opened the door. The question is whether we can rebuild the economy of the project with new partners while meeting the criteria with the best possible price cash advance no fax.This in 60 days, "says one at EADS.

Pentagon Approval

Mission impossible? This time, the group led by Louis Welsh would hand over the project and the allocation of tasks and margins because the Pentagon has agreed to accept as a leader (prime contractor), whereas previously this function was reserved for an American, namely Northrop.

EADS believes can be because it has already proven with the tanker for the Australian Army with the first aircraft to be delivered in Canberra in late 2010. The aircraft systems through the nacelles or the boom, the refueling boom, EADS and Airbus have done everything. Clearly, they have already militarized apparatus.In the U.S., the group would appeal to American partners with specific expertise that does not hold, for example on defense electronics (transmission interconnection between the planes of the U.S. Air Force …). Groups such as BAE Systems, Honeywell or L3com provide a good profile.

As a "bonus", EADS bear more risk, but still would review its pricing policy. In contrast, no question of taking the contract loss. EADS must reach adjust its prices so that its plane, larger than that of Boeing, is competitive. The Pentagon has made it clear he wants the best device whose capabilities are at least those of an airplane that looks like two drops of water in B767 and the lowest price. The Pentagon would not refuse a bigger plane if it did not cost more. The equation is complex.For now, the prevailing consensus within EADS to study the way to the end. But nothing is yet decided.

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After eight consecutive sessions of gains, U.S. investors have decided to take a breath. The week ends so in the red on Wall Street on profit taking. The Dow Jones a coward for closing 0.35% at 10,741.98 points. The Nasdaq lost 0.71% to 2374.41 points and the S & P 500 drops 0.51% to 1159.90 points.

The week was marked by the rise of the Dow Jones on Thursday at its highest for a year and a half (0.42% to 10,733.37 points). For the week, the flagship index of New York has gained 1.01%. Since the beginning of the year, it earned 3.01%.

"After a series of fairly impressive gains, we approach the weekend with many uncertainties: what will happen with the reform of American health care system, what will happen with Greece," observed Craig Peckham, the brokerage firm Jefferies. "It gives a reason to take profits," he added.According to analysts, the lack of activity of the market could continue next week due to lack of key indicators.

Raw materials have saddled the atmosphere

Place New York was also taken by surprise by a rate hike the central bank in India, one of the engines of world economic growth. The decision raised fears of slowing growth in the country, weighing on the sectors most sensitive to economic conditions (industry and technology), on commodity prices, and therefore the energy and mining sectors. The aluminum producer Alcoa (-0.28% to 14.26 dollars) or the oil company ExxonMobil (-0.52% to 57.04%) have evolved into the red during the entire session.

The dollar has also strengthened. Under pressure for several weeks, the euro has been penalized by the Greek uncertainties. The euro has lost 0.55% to 1.3535.

Palm collapses

The action of the mobile phone manufacturer Palm fell heavily on Friday. It tumbles down 28.50% to 4.04 dollars. Investors punish new quarterly losses and forecast a very pessimistic bad credit personal loan lenders . Over the period from December to January, the manufacturer of Pre lost 22 million dollars, twice the previous quarter and more than expected by analysts. The revenue (almost $ 350 million) is better than expected, but because of poor consumer sales of its devices by the operators, it is expected to "less than" 150 million dollars, twice less previously anticipated.

The largest bookseller in the United States, Barnes & Noble (+0.26% to 22.96 dollars) has announced that it would change the CEO.This is the current president of the group's website, William Lynch, who will replace Steve Riggio at the head of the company. The future leader has helped launch the electronic bookstore Barnes & Noble and he oversaw the launch of an electronic book reader called the Nook, a product designed to compete with the readers of e-books competitors, such as the Kindle or the 'iPad.

FedEx (-1.75% to 91.05 dollars) posted net earnings of $ 239 million, up 146% in the third quarter. Based on the number of shares, the result stood at 76 cents. The logistics group has exceeded its own targets, which ranged from 50 to 70 cents, and estimates of analysts, who on average expected a figure of 72 cents. The operating profit jumped 129% to 416 million dollars for an operating margin of 4.8% against 2.2% a year ago.

Aetna argues the document.The life insurer believes that its earnings per share in the first quarter will exceed the consensus Wall Street (66 cents) to 2.55 dollars, or $ 2.65. The action ended up 3.58% to 34.43 dollars.

The U.S. aircraft manufacturer Boeing has announced that it would expedite the production of its 777 aircraft and 747 to meet the growing demand from customers. Sign that the aerospace market is recovering. The securities are 0.30% to end at 71.08 dollars, after opening up over 2%.