The two main Greek political parties that have managed Sunday evening to a political agreement to form a national unity government agreed that February 19 would be the most appropriate date for the elections, said the Greek Ministry of Finance.

The Nikkei gained 2.04% or 178.07 points to 8,926.54 and the Topix has taken 2.18% (16.31 points) to 762.79.

The Bank of Japan is also stepped in to buy more assets in the markets, which helped improve investor sentiment.

"There are many unknowns about Europe, and it is now more likely that something disappointing for investors to happen, instead of a positive surprise," said Tomomi Yamashita, fund manager at Shinkin Asset Management .

About values, Olympus has seen a strong rebound after plummeting last few days, taking 23.29% to 1,355 yen.

Olympus gave a press conference defending its mergers and acquisitions Thursday following the resignation of its chairman.

Several major automakers have values ​​slightly outperformed the market: Toyota made 2.22% to 2,584 yen and Honda has awarded 2.75% to 2,393 yen.

In electronics, Sony jumped 5.43% to 1,650 yen, while qu'Elpida fell by 0.6% to 496 yen.

NEC (2.31% at 177 yen) and Softbank (0.91% to 2450 yen) released their quarterly earnings at closing.

S & P puts forward such weak growth and high debt of the private sector.

In response, the euro has a downward trend in Asian markets opened Friday, but always seems on track to achieve its best performance since the week of January.

"Despite signs of strength in economic performance during the year 2011, we observed an increased risk to the outlook for growth in Spain," said S & P, citing high unemployment, difficult budgetary conditions, the high indebtedness of the private sector and the likely economic slowdown in major trading partners of Spain.

The agency said in a statement to expect that the quality of financial sector assets continue to depreciate.

Standard & Poor's also believes that the reform of the labor market is "incomplete" and therefore constitutes an obstacle to the resumption of economic activity.

"We could lower the rating again if, according to our scenario of decline, the economy is contracting in 2012, if the fiscal situation of Spain deviates significantly from the objectives set by the government or if reforms Additional labor market and other reforms to support growth are delayed, "warns the rating agency.

This report is also expected to have new conclusions on strengthening the European Financial Stability Fund (EFSF), he added.

"This schedule will allow us to finalize a comprehensive strategy on the crisis of sovereign debt in the euro area covering a number of issues related to it," he said.

Finance ministers of the euro area (Eurogroup) and the European Union (Ecofin) will meet before October 23, he said.

A source explained that the delay was due in part to the fact that the report of the EU and the International Monetary Fund (IMF) on the progress of the sanitation program of Greek public finances is not yet available.

"The leaders want to be able to act on the basis of the results of the report of the troika, which was not ready in time for the original date," said one EU source."We believe that the postponement is due to a request from Paris than in Berlin."

Greece said on Monday it had completed its meetings with the inspectors of the European Union, the International Monetary Fund and the European Central Bank for the release of a tranche of assistance Athens needs to avoid bankruptcy by a month.

Another source said that EU officials in charge of organizing the meetings had begun to make contact with the Member States to set a new date.

"They go around to all delegations to see if anyone is able to postpone the summit," she said.

French President Nicolas Sarkozy and German Chancellor Angela Merkel announced Sunday they will present by the end of a response "lasting and comprehensive peace" to the crisis in the euro area, which should go through a recapitalization of banks in Europe.

The indices, however, reduced their losses late in the session after a senior Greek officials had to Finance said that Greece was close to an agreement with the "troika" for the payment of the next tranche of aid.

The Dow Jones lost 108.08 points (0.94%) to 11,401.01. The S & P-500 yielded 11.92 points (0.98%) to 1204.09. The Nasdaq Composite Index lost 9.48 points (0.36%) to 2612.83.

The values ​​of energy and finance led the movement.The S & P Energy lost 1.46% in the wake of oil, and that of the Financial 2.74%, following a further sharp fall in European banking.

Investors are disappointed with the overall conclusions of the Ecofin meeting / Eurogroup held at the end of last week in Poland.

"We were not only overbought but we also had 'hoped-on", says Karl Mills (Jurik, Mills & Keifer Investment Partners)."It was hoped that the visit (the U.S. Treasury Secretary Timothy) Geithner in Europe would provide greater clarity but nothing positive has come out and you return to the problems of Europe".

Internally, President Barack Obama proposed Monday a plan to reduce the budget deficit of 3,000 billion over the next ten years, half would come from new tax levied on the richest Americans and corporations.

The Republicans criticize the plan, which raises many doubts about its adoption and implementation.

Values, UBS shares listed on Wall Street has lost 3.11%.The Swiss bank opened an internal investigation into the failure of its risk control system and its leaders are under pressure after a loss of $ 2.3 billion (1.67 billion euros) due to unauthorized transactions of a dishonest trader.

However, Tyco International gained 2.40% after announcing its division into three independent companies listed. Investors welcome this news because each company can take power in their competition to apply for.

The saddle on the Rue du Faubourg Saint-Honore, in which LVMH acquired a 21.4%, further confirmed its growth targets for all of 2011, statements in July, the group for an increase in its Sales at constant exchange rates between 12% and 14%.

Hermes also confirms that its annual operating profit "should be close to the historic high reached in 2010."The margin reached a record 27.8% last year, driven by growth also historical (+19% at constant exchange rates).

"We have not seen a drop in attendance in our stores, not even in Japan," said Patrick Thomas, CEO of Hermes, at a conference for the presentation of interim results.

"That does not mean there will not be," he added, however.

"In July and August, growth is not quite in the first half for reasons mainly the presence of products in shops," he also said Patrick Thomas, referring to the very low stocks in the group.

"The trend is still very good but it is lower than the first half (…), It is not at all a problem of declining attendance in the stores. "

"It is our policy to be as moderate as possible in price increases for next year (…), even if we find a strong increase of certain raw materials," also said the manager of Hermes.

THE DECISION 15/09 ON APPEAL OF THE ADAM

The manufacturer of Kelly bags or silk scarves saw operating profit rise by 37.3% to 418.1 million euros, increasing by 3.7 margin points to 28.3% against 32% a year earlier.

Net income rose 49.5% to 290.5 million euros against 271 million expected by analysts according to Thomson Reuters consensus I / B / E / S.

Patrick Thomas said the floating of the group was now "much reduced" and reiterated that Hermes had to purchase its own shares since early June to cover the programs for free shares to its employees.

He emphasized that such purchases had ceased since the course has exceeded 250 euros, the maximum purchase price authorized by its shareholders, suggesting that LVMH could in turn have continued to increase its stake.

Between early June and late August, Hermes acquired for 242 million euros of its own shares.

The Association for the Defence of Minority Shareholders (Adam) is also seeking to block the creation of a holding company by Hermès family control to counter a possible takeover bid by LVMH.

Hermes was granted a derogation from the Financial Markets Authority (AMF) to the obligation to redeem all the minority in the context of the creation of its holding.

Patrick Thomas was of a "serenity" vis-à-vis the decision of the Court of Appeal of Paris on an appeal of Adam against the exemption, expected Sept. 15.

In exchange, where it operates more at the mercy of speculation than on the performance of a group whose float is now below 7%, as Hermes was down 0.75% to 262.95 euros at 11:35, showing a up close to 68% since the beginning of the year for a market capitalization of around 27 billion.

On the Nymex, the contract on October U.S. crude (WTI) finished with a gain of $ 1.90, or 2.23% to 87.27 dollars a barrel.Meanwhile, Brent advanced to 0.44%, or $ 0.49, to 111.85 dollars.

Consumer spending of U.S. households rose 0.8% in July while economists surveyed expected an average spending growth of 0.5%.

Black gold has also benefited from the good performance of major stock exchanges worldwide, because of Hurricane Irene has done less damage than expected in the United States and the decline of the dollar.

The offer proposes to return the securities at a price of 306 dollars, or 20% above their average price over the last six months.

It is still subject to approval by the Board of Directors of Norilsk, which will meet Aug. 24.It will then be valid until September 5, the company said.

This proposed acquisition represents a further attempt to Norilsk to end the standoff delivered by the principal shareholder of Rusal, the oligarch Oleg Deripaska.

The aluminum companies said it would consider the offer.

"Rusal considers its investment in Norilsk Nickel is strategic, and as a public company we are discussing all offers submitted to us in accordance with our internal management procedures," he reacts in a statement.

Tobacco sales in four departments overseas since Monday is officially supervised: the councils will have to divide their territory a limited number of outlets licensed and unpopular reforms still unclear which they are reluctant to enter. This change in the sale of tobacco in Martinique, Guadeloupe, Guyane and Reunion (not in Mayotte where taxation is not aligned, ie) arises from the supplementary budget for 2011 in the Official Journal published Saturday.

Article 44, the result of an amendment by Senator Reunion Anne-Marie Payet (Centre Union) who fought for years on behalf of the "public health", thus regulating "effect from 1 August 2011" sale tobacco in the DOM.Now can not sell tobacco as licensed, the number of "maximum" is detailed: for the 540 Martinique, 550 for Guadeloupe, Reunion and 1070 to 300 in Guyana. In other words, a drastic reduction that is already cringe. Historically, the sale of tobacco escaped any regulation since the creation of DOM in 1946 because "some areas have local production," told AFP Anne-Marie Payet.

Thus at the meeting, the Chamber of Commerce and Industry has identified 2,000 sales outlets. "Either for 1 320 inhabitants in 3500 against one in France", denounced Ms. Payette, who recalls "that tobacco kills 600 people a year on the island, ten times the traffic accidents."In the DOM, tobacco is purchased in any small local shops or shopping mall where he can serve as a loss leader: sometimes in baking at the meeting, in "Chinese" (grocers) in Guyana, in gas stations, bars, etc..

The councils are not ready

A transition period was intended to allow those who would not receive a license – which the price remains to be decided by the county councils – to liquidate their stock, "not later than December 31." The president of the rights of nonsmokers, Gerard Audureau, welcomed this "trend that is returning the DOM in the law." "The government will ensure its implementation, but we will do that too," he told AFP.

Through the voice of Baroin, who was budget minister in parliamentary debates, the government had opposed the measure, said it was "not realistic" date of August 1. A view shared by the General Council (GC). "We are absolutely not ready", it has been recognized in Martinique, where it criticizes the criteria for licensing "undefined". In Guadeloupe, the MC asks the State to enforce the regulation itself, denouncing "a new skill without additional resources" to investigate cases.

The CG of the Meeting, he, passed a motion "to oppose the measure and seek, where appropriate, whether the Regional Director of Customs who issues the licenses." In Guyana, where already 30% of sales are illegal, there is concern that the limited outlets encumber all tax revenues (DOM each collection itself tobacco-related taxes).The Ministry of Overseas stressed that the law was "not directly applicable" to a decree clarifying all these gray areas (the award criteria, duration of licenses, etc.). Is' in progress development "and must be published" before the end of the year. "

The two groups were in discussions for several weeks after having given up their initial project, announced in January, which included the creation of a joint venture equally owned and whose governance would be ensured parity.

The new installation provides a successful acquisition of a minority group Canal + pay-TV in Orange Cinema Series up to 33.33%, France Telecom retaining a stake of 66.66%.

The project, devised a time, a merger of cinema chains Orange TPS Star is abandoned.

In a joint statement, the two groups indicate that governance "will be provided by both partners in proportion to their percentage of ownership."

The new partnership project, whose financial terms were not specified, must still be submitted to the representatives and the regulator.

At 13:00, the action of France Telecom and Vivendi, parent company of Canal +, were stable at 13.885 euros and 17.01 euros respectively.

RECONCILIATION

The announcement of the agreement seals the reconciliation between the two groups after a tense, marked by the offensive of the telecom operator in the field of content, the preserve of pay-TV group.

France Telecom has launched a redesign of its strategy in the content, preferring to concentrate now on partnerships for its television channels.

This thinking has led the telecom operator to negotiate with Canal + channels for its Cinema Series, and reflect on the future of Orange Sport.

Orange, which now pay up to 203 million euros per year for the game Saturday night and mobile rights to broadcast football matches in Ligue 1, has been largely absent from the last auction for television coverage.

The French group told Reuters last week that he was discussing a sale of Orange Sport to the Qatari Al Jazeera, which in June won the rights to broadcast games in Ligue 1 and will launch in the months come a new French-language channel devoted exclusively to sports.

Canal + put his side on a warming of relations with the telecom operator that is one of the leading distributors of its bouquet Canal Satellite.

The encrypted string is also mobilized by the planned launch in theory by the end of its first free channel on DTT.