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Heineken, the world's third largest brewer, said Wednesday a larger increase than expected half-year net income, reducing costs offset declining sales of beer in Europe and North America.

The Dutch group, whose main brands are Heineken and Amstel, saw sales volumes fall 2.3% on a comparable basis in the first six months of the year, but lower costs, the prices of raw materials and financial burdens, and the contribution of its joint ventures have enabled him to increase its net profit by 17% to 621 million euros.

Twelve analysts surveyed by Reuters had forecast an average result of 595 million.

In the exchanges of Amsterdam, Heineken action reduced its gains at midday, after gaining more than 2% in the morning and signed one of the most Shakers in the pan-European FTSEurofirst 300 index.

Some analysts suggest the group's exposure to the austerity measures in Europe to explain the slowdown.

Despite his good half, Heineken said to be cautious about the prospects of the beer market in Europe and the United States due to continued weakness in consumer spending in general and announced fiscal austerity plans.

Its sales volumes should continue to grow in parallel in Latin America, Africa and Asia.

LITTLE IMPACT OF THE INCREASE OF GRAIN

The results presented Wednesday included two months on the contribution of the activities of FEMSA Mexican beer, bought by Heineken in order to increase its presence in emerging markets.

Last year, Heineken has done a little more than half its sales in Western Europe. On Wednesday, he assured that the integration of FEMSA is proceeding satisfactorily and that it should generate synergies in the second half.

"Cost savings are slightly higher than expected, the contribution of FEMSA, too," said Trevor Stirling, an analyst at Bernstein Research.

"I do not see why the second half would be worse than the first.This should not be as bad in Eastern Europe and this should improve the United States (…) The fundamental dynamic is healthy. "

The group said growth forecasts of at least 10% of its net earnings over the whole year, indicating that volume trends in Latin America, Africa and Asia, as well as price increases , continue to have an impact on profitability.

The CEO of Heineken, Jean-Francois van Boxmeer, described the first half of "robust" and added that the recent rise in grain prices, driven by drought in Russia, would have little impact on the consolidated because purchases are concluded a year in advance and are largely covered before harvest.

"For the part that we have to cover, we must wait until the market calms down," he said during a teleconference.

Lindt & Sprungli has increased its net profit in the first half but remains cautious for the year 2010 because of the volatile commodity prices and foreign exchange.

Net income was posted at 24.8 million francs (18.8 million euros) in the first half, almost tenfold from 2.7 million achieved a year earlier, said Tuesday the Swiss chocolate.

Analysts polled by Reuters on average expected 20.4 million.

"Despite the excellent results of the first half of 2010, Lindt & Sprungli sticks to what it was made public in March 2010, the company said in a statement, citing an economic environment not yet fully consolidated and conditions still volatile.

It confirms expected this year organic growth of 5% to 7% and operating profit (EBIT) of 300 to 340 million francs.

The EBIT after exceptionals jumped by 40.7% in the first half, to 33.9 million francs, against 26.8 million expected by the market. Turnover increased 7.9% to 1056.6 million (against 1.043 million expected), after 979 million in the first half of 2009.

In value terms, the group notes that most of the chocolate market grew moderately in the first half, while in terms of volumes, it continues to see a certain stagnation.

The European Commission announced that it authorized the repurchase of the French specialist of the PPE Sperian by the American conglomerate Honeywell, as the operation does not affect competition.

The transaction represents 1.4 billion dollars (1.06 billion euros), a sum which includes the takeover of Honeywell debt of 300 million euros Sperian.

The European Commission has estimated that all Honeywell-Sperian will face a significant number of competitors.

The American group, who beat the investment fund Cinven for redemption Sperian has developed on the segment of protective equipment in recent years. He acquired Norcross Safety Production including $ 1.2 billion in 2008.

The industrial conglomerate 3M reported a 43.2% jump in net profit in the second quarter, above expectations, due to strong demand from emerging markets.

The U.S. company, which manufactures both the Post-It notes, Scotch tape as films used in flat screen displays a profit of $ 1.12 billion or $ 1.54 per share for the period April to June, One result cons of 783 million or $ 1.12 per share in the second Quarter 2009.

Analysts on average forecast EPS of $ 1.48 according to the consensus established by Thomson Reuters I / B / E / S.

Turnover rose 17.7% to 6.73 billion dollars according to the forecast given by the company in late June

For 2010, 3M now expects earnings per share excluding items between $ 5.80 and 5.65 and a growth of between 13% and 15% excluding acquisitions against a previous range of 10% to 12%.

The Minnesota company said however that the decline of the euro against the dollar could weigh on its results in the second half.

The NYSE closed up 0.18% Monday, the Dow Jones 30 Industrial 18.24 points to 10,216.27 winner.

The S & P 500 is broader, took 0.77 points, or 0.07%, to 1078.73. The Nasdaq Composite fell on his side of 1.91 point (0.09%) to 2198.36.

These data are likely to vary even slightly.

European shares move up on Thursday morning, boosted by the continued rebound in bank stocks, as investors are increasingly likely to believe that the results of stress tests will be less catastrophic than they feared.

The bank also boosted by a change of opinion on the sector by Credit Suisse, which went to "balance line" cons "underperformance" before.

Around 9:50, the pan-European index STOXX Europe 600 Banks gained 1.76%.

In Paris, Dexia gained 3.92%, 3.42% Natixis, BNP Paribas 2.93%, 3.13% Societe Generale and Credit Agricole 1.10%.

The trend is also positive for banks in the rest of Europe.

Barclays rose as 3.72% and 1.11% of Santander Intesa 1.81%.

Sales at department stores conducted between last Wednesday, the first day of sales, and next Saturday are up 10-17% in Paris and about 6% in the province over the same period of 2009, told Reuters Claude Boulle, Chairman of the Union of the great trade center (UCV).

This period, during which traders are allowed to sell at a loss, will end Aug. 3.

"We are surprised by such enthusiasm," said Claude Boulle, who gives the rain, precipitation related to the timing of sales compared with the academic pace and demands of tourists, especially from emerging countries like Asians or Brazilians.

Claude Boulle, however, refuses "to be triumphalist" for now because, he says, should not at this very good start followed by a drop in purchases after July 15.

"The balances are played on a shorter and shorter," he observes.

As every year, the discounts offered in the department stores were included in 30 and 50% and new markdowns could be proposed "if there are still things to sell," added Claude Boulle.

The TCU brings together nearly nine billion euros in turnover with 600 stores in 300 cities in France, such as Galeries Lafayette, Printemps or C & A.

European stock markets were down in mid-day, posting the seventh decline in eight sessions after the publication of indicators Chinese fuel fears about the state of the global economy.

For this first session running at a disastrous quarter for equity markets, the pan-European FTSEurofirst 300 index lost 1.19% to 10:45 GMT at 981.69, after touching a low of three weeks.

The Euro Stoxx 50 index of leading industrial stocks in the euro zone, meanwhile shrank by 1.1% to 2544.97 to go below the key level of 38% retracement of the rise between the lowest March 2009 and peak in January compared to the historic low of March 2009, raising fears that its decline is far from complete.

The next level of support is the lowest in 2010 at 2448.10, touched in May

On Wall Street, the S & P 500 fell on Wednesday under the 1040 he managed to maintain since February, falling firmly in a downtrend, which could lead to a sharp fall in the months ahead.

Indicators have shown that the growth of China's manufacturing sector slowed in June in response to efforts by Beijing to curb the expansion of housing and contain the increase in funding.

"The Asian growth has been the engine of the global economy, so if China loses its speed, it will not go well," said Jacques Henry, analyst at Louis Capital Markets.

"With very dull statistics from the U.S., there is growing nervousness over a new recession."

SLOWDOWN IN CHINA AND INDIA

The Chinese official PMI stood at 52.1 in June against 53.9 in MayThis is the lowest figure since February and is well below the expected figure of 53.1 on average by ten analysts polled by Reuters.

A similar survey conducted by HSBC for its shows a sharper decline to 50.4 last month against 52.7 in May

In India too, the growth of manufacturing activity slowed in June due to a deceleration in the rate of increase in production and new orders slightly lower than in May.

PMI Purchasing Managers HSBC, drawn on a survey of 500 companies fell to 57.3 in June against 59.0 in May, the level that had constituted a high of more than two years.

Very sensitive to changes in the Chinese economy, mining stocks are affected. Xstrata lost 2.67%, BHP was down 1.62% and Rio Tinto fell back to 0.88%.

The banking situation is more delicate approach to the recovery of around 500 billion euros at the European Central Bank.Credit Agricole fell 2.33%, 2.23% and BBVA Banco Popolare 0.66%.

Barclays accused it for an even more marked decline after announcing that business conditions in the segment of the investment bank had deteriorated over the last two months.

Adding to the gloom, the French manufacturing PMI came to show that growth in the French manufacturing industry slowed in June for the second consecutive month in France and the sector has continued to destroy jobs, according to PMI survey published Thursday by the Institute Markit Economics.

The German situation is rather less alarming because the industry has finally emerged while a stable flash estimate predicted a slowdown.

At the opening of the Social Summit to be held Monday, May 10th at the Elysee Palace, Nicolas Sarkozy, has declared Monday, May 10 against the renewal of exceptional measures to support the purchasing power of households decided in 2009. "These extraordinary measures have completely fulfilled their duty as French consumption has increased despite the crisis" and "household demand continues to be resilient today," observed the head of state before the social partners.

"I know some of you would like these measures should be renewed," he said, "but you know that France can not remain isolated in this way, it would be disastrous for our competitiveness.""After considerable effort we have provided during the crisis, we must engage now initiate the recovery of our public finances," insisted the head of state.

Nicolas Sarkozy has however decided to extend aid to companies resorting to partial unemployment or recruiting young alternately. Saying that he must "not let down our guard," the president assured commitment to continue to spend on employment policies all means necessary ".

Referring to measures to support the partial unemployment (more than 400,000 beneficiaries in 2009) and conversion of retrenched (CRP CTP), the Head of State said that "we must maintain." It sought to reinforce "still" training employees partial unemployment, whose record was mixed. Mr.Sarkozy has also expressed support for experimentation on several employment areas of the enhanced support of employment transition agreement (SOC) for former interim or ex-CSD. A measure sought by the unions and raised by the government in 2009 but never implemented.

He also briefed the sides met in the Elysee why it was "conducive to the extension of aid to the alternation, ie the State aid paid by employers who recruit a young apprenticeship or contract professionalization. According to the President of the Republic, these aids provide "fragile but encouraging results.We can not risk putting them at risk.

Regarding the measure "zero load" given to very small businesses (fewer than 10 employees) since late 2008, it nevertheless considered that "it has served its purpose at the height of the crisis and is less necessary with the start of the recovery since the fourth quarter of 2009. Such assistance already extended for six months, must be interrupted on June 30 Launched in December 2008, the "Zero charges" is equivalent to one year in aid of 185 euros per month for an employer hiring a worker at minimum wage. Approximately one million workers were recruited under this scheme, which recognizes employers that generates windfall because the company receives assistance even in cases where it would have hired anyway.

Mr.Sarkozy, however, wanted to build this device exemptions from employer contributions to support the hiring "of specific audiences, especially older people, due to an unspecified. The Head of State has asked the Labour Minister Eric Woerth, in conjunction with those of the job (Christine Lagarde, Laurent Wauquiez), to make proposals, finding it interesting to develop tutoring seniors.