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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.

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.

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.

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%.

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.

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.

The latest version of the legislation on the reform of financial regulation has been adopted Friday by a committee of Parliamentarians American.

To be finally ratified, the text must still be approved by the Senate and the House of Representatives, then be subject to presidential signature by July 4.

U.S. legislators have therefore put a stop to the proposed overhaul of financial regulation in the country, having reached agreement on new restrictions on banking activities and proposed a compromise on the issue of derivatives.

It was around midnight at the U.S. negotiators Democrats have managed to find a first ground on the two thorniest issues of the bill.

The two clauses in question are intended to protect the banks' assets in risky activities of proprietary trading, causing the financial crisis of 2007-2009 which resulted in a deep recession and have led the state to fly to the rescue of the banking sector.

The Democrats were under pressure to complete their work within the next few hours, before President Barack Obama becoming engaged in discussions with leaders at the G20 summit in Toronto this week-end.

After 15 hours of intense negotiations, Democrats have finally agreed on a modified version of the so-called "Volcker rule" designed to restrict trading on own account and prohibit banks or the least strictly regulate their involvement in hedge funds and private equity investment.

MODEL TYPE

This relaxation would allow such banks to invest up to 3% of their total Tier 1 capital, core capital in hedge funds and private equity investment.

The project oversight of the derivatives market has however more trouble for lawmakers.This market 615,000 billion has to exacerbate the crisis and led to such a rescue of 182 billion dollars of public money for the insurer American International Group.

Democratic Senator Blanche Lincoln has reached a compromise with Treasury representatives aimed at forcing banks to divide their swaps which will also offer the opportunity to reach a wider variety of house swaps.

After hours of negotiation, other Democratic lawmakers have finally reached its position.

Dozens of Democrats in the House of Representatives, saying it would strengthen offshore activities, threatened to vote against the entire bill if continuation of this proposal.

Carrying out such a bill would be for Democrats a victory on the legislative front, after the health reform passed this year, more significant than the midterm elections will be held in November.

If the purpose of this bill, which has nearly 2,000 pages, is to avoid a global crisis similar to that which began in 2007, it will create a strong contrast constraints on the banking sector and could deprive him of several billion dollars in revenue.

Wall Street has launched major maneuvers to sink the project, despite a growing popular protest criticizing the bank failures and bonuses of executives. The Democrats had to suppress their ambitions, however radical overhaul so as not to deprive the votes of parliamentarians "centrist".

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.

Nicolas Sarkozy has once again ruled out any increase in compulsory levies to finance the pension reform, but confirmed that efforts would be applied to high income and capital income, Monday, May 10 at the sides.

"There is (…) two solutions that do not seem desirable: touch the pensions of retirees and believe, as so often in the past that rising tax burden would be the answer to all our problems," said M . Sarkozy during his opening statement released by the presidency.

"It would in fact reduce the living standards of the French and penalize growth.I am deeply convinced that a demographic challenge must first demographic responses "such as delaying the age of retirement or increasing the contribution period, he added, referring the issue of pensions, though not the agenda of the Social Summit.

Labour Minister Eric Woerth had mentioned last week, one of the tracks government work, an increase in resources for Old Age Solidarity Fund (FSV), mainly fueled by a fraction of revenues from the CSG (Contribution Sociale generalized).

Nicolas Sarkozy has once again vowed on Monday to trade unions and employers that the planned reform would be "fair", confirming such an "additional financial effort high income and capital income.

The Head of State also confirmed that Eric Woerth made public next week a "guidance document which will indicate the principles set for the reform, which will be a new stage of comprehensive cooperation."