News & Financial Advice

Wall Street opened sharply higher Friday in reaction to the publication of monthly U.S. employment considered reassuring.

A few minutes after the start of trading, the Dow Jones gained 1.18% to 10,441.65 points, the Standard & Poor's 500 index 1.31% to 1104.36 points and the Nasdaq Composite 2234.05 1.55% points.

The Dow 30 stocks were in green.

The U.S. economy still has destroyed jobs in August for the third consecutive month, but significantly less than expected, and the private sector has created more jobs than expected.

The markets will also monitor closely the figure of the ISM index of activity in the services sector at 14:00 GMT.

Home Depot, the world of DIY and interior design, gained 2.44%, boosting its progression before, which had already ranked at the top of the largest increases in the Dow.

On the Nasdaq, as Take-Two Interactive jumped to 15.71% after the publication of quarterly results better than expected and the recovery of group forecasts.

The growth of the U.S. economy in the second quarter was much weaker estimated initially at 1.6% annualized 2.4% originally announced cons, particularly penalized by the higher increase in imports for 26 years, published revised statistics show Friday.

Economists polled by Reuters on average expected a downward revision even more pronounced at 1.4%, mainly due to higher imports and slower recovery in business inventories. (See)

Export growth was revised to 9.1% for the second quarter, while the previous estimate reported an increase of 10.3%.Imports have them, increased by 32.4%, against 28.8% in the first estimate.

Following this publication, futures on U.S. indexes have increased their gains, while European markets are back in positive territory.

The French energy group GDF Suez is interested in acquiring sites for storing gas sold by Exxon Mobil and Shell and recovered approximately one billion euros, Le Figaro reported Saturday.

Citing a source close to GDF Suez, the daily wrote that the French group is competing in this issue with the infrastructure management subsidiaries of Deutsche Bank, Axa and Prudential.

GDF Suez declined to comment, saying it fails to confirm or invalidate this information.

Shell and Exxon have sold their joint ventures German gas storage BEB Erdgas and Erdoel last June.

While GDF Suez already has 600 million cubic feet of storage in Germany, the company chaired by Gerard Mestrallet will see its capacity increased to approximately 1.5 billion cubic meters if she can buy the two sites Uelsen Harsefeld and north-west of the country, "said Le Figaro.

Germany is the third market of the French group in terms of gas supply.

The source quoted by the newspaper also reported that GDF Suez continued interest in the Polish energy market and remained in contention for the redemption of Enea, the third power in Poland.

Wall Street opened up after the publication of a series of better than forecast, reassuring investors who feared a slowdown in U.S. economic recovery.

A few minutes after the start of trading, the DJIA gained 0.22% to 10,252.59 points, the Standard & Poor's 500 index 0.44% to 1087.88 points and the Nasdaq Composite 0.35% to 2230.22 points.

The title Apple earned $ 262 4% after reporting a result well above expectations, boosted by higher sales of its Mac computers.

Prices are also supported by banking stocks Morgan Stanley and Wells Fargo have both published results better than expected, reassuring investors concerned about the health of the U.S. banking sector.

Both titles and took respectively 7.06% and 4.36% in early trade.

Laurent-Perrier announces increase of 17.3% of its turnover in the first quarter of fiscal 2010-2011, the group enjoying champagne strong exports to the United Kingdom, the United States, the Germany and Asia.

The turnover in Q1 (April 1-June 30) reached 36.8 million euros against 31.4 million a year earlier.

The export sales have reached 69.5% of sales of the brand, a gain of 6.7 points compared to first quarter of last year.

"If it confirms the recovery in demand, growth in volumes in the first quarter should not be extrapolated over the whole year," the company said in a statement, adding nevertheless that the price / mix should gradually recover in coming quarters.

The group generates a significant portion of its revenues in the third quarter (October-December), corresponding to the festive season to season.

The results of the first half ended September 30, 2010 will be published on 1 December 2010.

The stock has increased by 24.4% since the beginning of the year, after declining 8.5% in 2009. It has a market capitalization of 400 million euros.

Manutan announced Friday that its sales had increased 9.3% in third quarter 2009-2010 to 132.9 million euros, the group has enjoyed an upturn in all regions of Europe where it is present.

Of the first nine months of the year offset, net sales rose 0.2% on a constant basis and 18.7%, taking into particular account the integration of Local Businesses Camif, acquired in March last.

"The end of the first nine months of activity marks the return to growth in aggregate group," commented Manutan in a statement, without giving targets for the current year.

The Paris Bourse, as all European markets ended down sharply on Thursday following the publication of a series of disappointing U.S. indicators, confirming the interruption of a long sequence of increase initiated the day before.

The CAC 40 index finished down 1.41% at 3581.82 points, after playing a note on irregular closely during most of the session. The index had already paused Wednesday (-0.13%), having won more than 9% in six sessions of consecutive increase.

London fell by 0.8% and Frankfurt 0.97%.As for the European indices, the EuroStoxx 50 yielded 1.35% and 1.14% Eurofirst 300.

'Investors are still worried about the slowdown in the United States, and after the recent good performance of markets, profit-taking seem necessary given that the risks are always present ", says Claudia Panseri, chief strategist at SG CIB .

Falling producer prices and the index of the New York Fed has cooled the enthusiasm of investors even though they had enthusiastically welcomed the results published by JPMorgan.

Similarly, producer prices have fallen more sharply than expected in June and the condition index of industrial activity were sharply down in July.

After cutting their losses in early afternoon following the publication of excellent results by JP Morgan, the banks are heavily impact the market.

Dexia largest decline of ACC, ended down 5.12% to 3.243 euros, Crédit Agricole of 3.26% to 9.287 euros and BNP Paribas 4.01% to 48.705 euros.

The values "dollar" have suffered bad news on growth overseas as the U.S. currency.

In the aerospace sector, EADS lost 4.86% to 16.550 euros and 4.59% at Saffron 20.800 euros. In the area of semiconductors, STMicroelectronics has yielded 2.08% to 6.776 euros and 8.063 to 4.91% Soitec euros.The euro is trading at 1.2906 / 08 1.2738 dollars against the previous day.

U.S. light crude lost $ 1.05 per share to 75.99 dollars a barrel.

The Spanish bank Banesto publishes an interim result down 6.8% due to the recognition of a higher amount of provisions for bad debts, which impacted the margins of the establishment.

The Spanish bank has registered a net profit of 381.7 million euros, while analysts polled by Reuters had expected 376 million euros.

Banesto, majority owned by Spanish bank Santander and the first to publish its interim results, said it recorded $ 85 million of exceptional provisions.

The ratio of Banesto related bad loans to total loans stood at 3.48% against 3.12% at end-March, while analysts at Citi said they expect that this ratio reaches a peak during the year 2011.

The net interest income, or about what a bank earns on loans decreased costs related to its deposit, rose 0.5% to 863.6 million euros against 855 million expected by analysts.

Around 7:15 GMT, gaining 0.8%, while the Stoxx index comprising the major European banking stocks was virtually unchanged at the same moment (-0.05%).

The German unemployment rate reached its lowest level since December 2008 but the uncertain economic outlook for 2011 could undermine this trend.

The number of unemployed fell by 21,000 in Germany in June, seasonally adjusted data, after falling 41,000 in May (revised from 45,000) to go back to 3.23 million, announced the Federal Labour Office.

The German unemployment rate displays and twelfth consecutive month of decline.

"The unemployment figures have stagnated at this level," said Andreas Scheurle, economist at DekaBank. "The economy is expected to deteriorate in 2011.This suggests that this figure should remain at this level. "

The number of unemployed for the month of May has been revised from 3,246,000 to 3,251,000 people.

The unemployment rate remained unchanged in June at 7.7% of the workforce.

Economists polled by Reuters expected a larger decline in the number of unemployed, with 25,000 applicants for fewer jobs and an unemployment rate unchanged at 7.7%.

In unadjusted data, the number of unemployed fell by 88,000 over the month to 3.153 million.

The director of the Federal Labour Office, Frank-Juergen Weise, it is possible that the number of jobseekers fell below the three million mark by the end of the year.He stressed the good economic performance in the second quarter but had doubts in 2011.

The drop in unemployment follows a surge in industrial orders in April.

"As the order books are filling up, companies must increasingly resort to stop using part-time work or new employees. However, he cautioned against being too optimistic," said Joerg Zeuner VP Bank.

The German manufacturing activity fell further in June, suggesting a slower recovery in Europe in the second half of 2010.

"The impending austerity measures to balance budgets in the euro area is already clouding the outlook," he adds."A further decline in demand would again use under pressure."

German Chancellor Angela Merkel unveiled this month a plan to achieve budgetary savings of 80 billion euros over the next four years, with the objective to comply with the requirements of the European Union by 2013.

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.