News & Financial Advice

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.

Arkema plans to double its EBITDA this year after a second quarter marked by record sales amid robust demand in Asia and recovery in North America.

The chemist has done on the previous quarter sales of 1.6 billion euros, up 38%.At constant perimeter, sales rose 27%.

It's his best performance since its IPO in May 2006.

"The level of first half performance allows us to review our annual target of strong EBITDA to rise, which should exceed 600 million euros (…) approximately double the EBITDA reached in 2009," said the CEO of Arkema, Thierry Le Henaff, in a statement.

In the second quarter, earnings before interest, taxes, depreciation, and amortization (EBITDA) came out to 241 million euros, more than tripling the profit for the period of 2009 and similar growth of 76% over the first three months year.

Arkema has posted a net profit group share of 119 million euros in the quarter, while it had a loss of 114 million a year earlier.

The Arkema share closed Monday at 34.985 euros, giving a market capitalization of around two billion euros. Since the beginning of the year, the stock has taken more than 30% after more than doubled in value over the whole of 2009.

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 Italian group Fiat said on Friday it would invest 700 million euros to produce the Panda Pomigliano, near Naples, while the range of small cars was previously produced in Poland.

The decision to relocate production in Italy of the best-selling small car in Europe was a time appear uncertain because only 62% of factory workers in Naples had voted in favor.

Fiat has finally decided to pursue his project after meeting with various unions have accepted this decision with the exception of Fiom, who said he would act in court for infringement of the rights of employees under the new conditions.

The government of Silvio Berlusconi welcomed the announcement of Fiat.

Fiat's investment in Naples – the group plans to invest about 8 billion euros worldwide by 2011 – is expected to boost employment in Italy and contribute to economic growth.

Action Fiat was up 1.4% to 8.84 euros in late afternoon.