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The M6 Group on Tuesday said its results for the first half of 2010. Turnover increased by 9.4% and advertising revenue of 7.4% by M6.

LE FIGARO. – The results of the first half they marked the recovery of accounts?

Nicolas de Tavernost. – The model M6, which is based on two feet, with 55% of revenues related to advertising and 45% due to diversification, proved last year that he could withstand the crisis. In 2009, M6 has been one of the few media groups in Europe to maintain its result. Today, that same model shows that it is also effective in upturns. Thus, our operating profit grew by 23% in the first half of 2010.

Note that all segments of the group – the M6, digital channels, media rights, Internet, Distance Selling … – rose.Accordingly, the group turnover is above the 2008 level, which is not the case in the advertising market. Finally, with an operating margin growth of 2.1 points to 17.9%, the profitability of the M6 is two times higher than its main competitor. This validates the relevance of model M6.

M6 she stood facing the World Cup football?

Firstly, that the advertising market has benefited from a World Cup is not correct. Proof, M6, which was unable to attend matches of the World Cup as opposed to TF1, France Televisions, Canal +, has turned this handicap into an advantage. This is for two simple reasons: three-quarters of advertisers looking for a female audience, which is not the case with football, and during games it is difficult to insert commercial breaks.During the World Cup, M6 has made a good-cons programming including "Love is in the meadow, which was a great success. In the end, the World Cup has cost us about 0.3 point fall national audience but had no effect on our advertising revenue. Instead, in June, our screens were saturated and our advertising revenue in the second quarter increased 12%.

Does that mean you give up to buy sports rights?

I did not say that. M6 continue to purchase rights, particularly in football, but we approach the issue with caution. Today, the cost of rights is too important, even if they have started to fall on those of the France team and those of the Champions League.We acquired two games of the France team in the fall (Luxembourg-France and Bosnia-France) and we will probably go on the tender to be held in September of rights for Euro 2012 and 2016.

The hearing is continuing its erosion of M6. How about it?

Let's review the last ten years. During this period, the M6 has improved its position against its competitors historical. In 2000, we were only 38% of TF1's hearing today, we are at 42%. Better still, we're currently 64% of the hearing of France 2 against 57% in 2000 and we arrive at 95% of the audience at France 3. In absolute terms, of course, the hearing of M6 is increased from 12.7% in 2000 to 10.4% today. But in ten years, the number of channels has increased with TNT. We must therefore measure the audience of all group channels (M6, W9 and channels), which has now reached 14.2%.We have therefore gained market share in a decade.

What are your predictions for the advertising market in 2010?

The rise of television advertising market is due to the very effectiveness of the media, which proved he was still the most powerful. However, after the crisis of 2009, the market still suffers from a decline of 10% compared to 2008. We hope in the second half we find these levels. It should be noted that in the meantime the offer of television has multiplied, and there is more competition on a smaller market. Despite this background, M6 has managed to improve its result. For the whole year, I do not give predictions but I can tell you that in the short term, over the months of July, August and September, the market is not bad.

In addition, W9 continues to grow very rapidly. W9 has a national audience share of 3% and 3.8% on our business targets.She continues to experience strong growth in advertising revenues and is the TNT channel most invested in advertising.

Will you return to innovate?

The M6 has always been innovative, two examples: it has been three years since we have successfully focused on cooking with "Dine With Me" and "Top Chef" of success that will continue in September. We have also developed the second generation of reality: with "Love is in the meadow", "New Star" and "Amazing Talent," which are programs to successful wide audience. The "19.45", launched last September, is already a success that should be amplified, we will pursue innovation in September with the recently highlighted the skills of French artisans.

We have also innovated with our services and VOD Catch Up TV (M6 and W9 Replay Replay).Even if these new services are growing very rapidly, we should keep. Eventually, the TV catch-up will represent between 2% to 4% of the initial hearing of the television and almost as much revenue.

M6 Will he participate in tenders issued by the CSA for the new DTT channels?

Currently, we examine the context of the tender. But be careful to balance the market in France, we are the European countries that saw the most public and private channels to develop.But the market can absorb new channels constantly.

Regarding funding, he must go after the clarification sought by the President of the Republic: government revenue for public broadcasters, private income for private channels, it is the condition of a balanced television industry.

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After a pause of three days (Monday holiday), the U.S. stock market, resumed the height Tuesday. The Standard & Poor's 500 and Nasdaq 100 advancing in effect by 1.3% to 1035 points and 1.7% to 2126 points. On Friday, the NYSE has fallen heavily, cooled by the monthly figures of employment in the United States, although less well than expected. Last week, the Dow Jones dropped 4.51% to 9686.48 points, ending Friday at its lowest level since October 5. The Nasdaq fell 5.92% to 2091.79 points and the Standard & Poor's 500 index 5.03% to 1022.58 points.

On the foreign exchange market, the euro continues to rise on Tuesday. At 15.30, the euro gained 0.38% to 1.2592 dollar.

The session on Wall Street, will begin with the announcement of the PMI services.Apart from this indicator, no other major news is expected.

After the disappointment of Friday on the employment figures, investors should be particularly careful this week to weekly figures for unemployment benefits that are to be published Thursday.

The employment report in June showed Friday that the U.S. economy had reduced jobs for the first time since the beginning of the year. Even the decline in the unemployment rate to 9.5% was not enough to reassure investors, this situation reflects the despair of a portion of the workforce, which seeks more jobs.On Wall Street as on most other major world places, operators should play the card of caution this week before the opening of the interim results season.

On the face values

Within the Dow, the ball begins, as always, with results from Alcoa July 12 (next Monday).

Meanwhile, the discount retailer Family Dollar Stores (3% to 39.8 dollars) to publish its half-yearly results on Wednesday credit score. This will be the only company in the S & P 500 to publish its results this week.

The BP Plc, also listed on Wall Street leads the session with an increase of 4.9% to 30.8 million.After the group has denied being the search for new shareholders, Shokri Ghanem, Chairman of National Oil Co, a Libyan oil, said that Libya should return to the capital of the British oil company.

The share of investment bank Goldman Sachs benefits of raising recommendation JPMorgan, which rose to overweight on the title: +1.7% to 133.3 million.

Ford Motors has seen its price target return of 16-14 dollars by Goldman Sachs, the bank has lowered its estimate of overall vehicle sales in 2010. However, retain a recommendation "attractive" on the automotive sector. Finally, shares rise 1.5% to 10.43 dollars.

News Corp., the media group founded by Rupert Murdoch, The Wall Street Journal, in discussion with Google, Microsoft and Yahoo! for the sale of advertising space on MySpace, so that the current contract with Google ends.The securities earn 1% to 11.9 million.

The group of agrochemicals and seeds Monsanto (0.3% to 46.7 U.S. dollars) Monday withdrew its complaint against European importers of industrial soybean meal from Argentina. Monsanto previously estimated that they infringed its European patent on its Roundup Ready soybeans. But the group has settled its dispute with the Dutch importer and dealer Cefetra raw Alfred C. Toepfer International just before decide the European Court of Justice on the case Tuesday.

After starting the session on an uptick, the indices fall into the red after 16 hours. The Dow Jones lost 0.11% to 10.431points, while the S & P coward 0.20% to 1111 points. Only the Nasdaq is on track with an increase of 0.13% to 2292 points. Investors welcomed the announcement of a bad back, unexpected, in May, resales of new housing: – 2.2% last month to 5.66 million units annualized, while economists had forecast an average of 6 12 million units or 5.5%. This further decline comes after two consecutive months of rising sales.

The night before, after long hesitation which direction to take, Wall Street finished little decline in trading volumes very low: The Dow Jones lost 0.08% at 10,442 points, the Nasdaq 0.90% to 2289 points and the S & P500 -0.39% to 1113 points. Previously, Wall Street had lined up eight consecutive sessions.Yesterday, investors have largely reacted to the announcement by China to implement an exchange rate policy more "flexible".

On the foreign exchange market, the euro resumed its decline late Monday afternoon, and continued to fall in the morning against the dollar, falling below 1.23 dollars, amid persistent fears over the economic health Europe Guaranteed payday loans.

Energy and raw material expected

On the side of values, or related companies exporting energy and raw materials may still be affected by the rising yuan including Caterpillar (+0.17% to 66.18 dollars) a strong presence in China, Freeport -McMoRan Copper & Gold (-1.37% to 67.18 dollars) or aluminum specialist Alcoa (-0.17% 11.70 dollars).Conversely, the retail sector could suffer pressure on its margins.

Always on the side of values, Visa (-1.33% to 79.82 dollars) and Mastercard (-0.05% to 223.22 U.S. dollars) closed sharply higher Monday after an agreement between members of Congress on the regulation banking fees.

Also note, Goldman Sachs (-0.37% to 137.23 dollars), receives an extension from the court to answer a complaint filed by the SEC, which accused him of fraud. Goldman Sachs has until July 19 to provide evidence to defend himself against the complaint, which concerns the sale of CDOs.

The tone rises between the administration of Barack Obama and BP. The head of the American branch of the oil company, Lamar McKay, said Tuesday at a hearing in Congress, he refused to promise the creation of an escrow account to compensate victims of oil spills in the Gulf of Mexico. The $ 20 billion has been raised in a letter to the CEO of BP, Tony Hayward. "I am not able to tell if an account is established or not," said Lamar McKay. "I can not commit, either one way or the other"

The idea had been raised by the White House. Several members of Congress while announcing their desire to put pressure on BP to put it in receivership on payment of its dividend in order to ensure compensation for victims of the disaster, compared to a "September 11th green" by Barack Obama.

According to the White House press secretary, Robert Gibbs, is already preparing the risposta in the Oval Office. Barack Obama will "be forced either to reach an agreement with BP to withdraw their control of the process of claims and entrusted to an independent structure, so that people who have been harmed to obtain the money they is due, "said the spokesman. The administration is based on the polluter pays law in force in the United States, which requires BP to pay the costs of plugging the leak of oil, cleaning the polluted coastline and compensation for victims.Traveling in Pensacola Beach, Florida, Bush assured the residents affected by the oil spill that would "whatever it takes, as long as it takes to be sure that BP is paying for the damage that it has caused.

An oration

President Barack Obama has formally addressed his countrymen on Tuesday at 8:00 p.m. (2:00 am, Paris time). He will be speaking from the Oval Office of the White House, space reserved for the most serious crises and whom he'd never used a speech to the nation.

A senior, Bush will announce the appointment of a person responsible for restoring long-term disaster areas by the oil spill that pollutes the Gulf of Mexico. The "czar" as the press dubbed the American mission will be to "restore the Gulf of Mexico.Not to where it was the day when the accident occurred. But to restore it to where it was years ago: to increase the life and vitality of the species, wildlife and natural beauty that characterizes the Gulf of Mexico, "said Robert Gibbs.

Barack Obama will set out above "the need to reduce our dependence vis-a-vis oil and fossil fuels" No faxing 1 hour payday loans. He will also discuss the "changes necessary for such a disaster never happens again more. According to an anonymous source, the U.S. president will "present the measures taken to protect those who suffer financially from this disaster, especially during the process of compensation."

"The tragedy was avoidable

Under pressure, BP must also face competition that dares to push it."I am convinced that the independent investigation will show that this tragedy was preventable," and called John Watson, head of oil company Chevron to members of the Committee on Energy and Commerce House of Representatives. The explosion and the sinking of the platform in late April Deepwater Horizon "show once again that all companies must work under the same strict safety and reliability. It is obvious that not following these rules has serious consequences, "he added.

"It is imperative that an investigation expert, impartial and comprehensive investigation takes place, because this incident represents a serious breach of standards relating to offshore drilling, for his part stressed the boss of ExxonMobil, Rex Tillerson .

In addition to the Chevron boss and ExxonMobil, ConocoPhillips and Shell were present. Facing them, Lamar McKay attempted to defend his group."I want to make things clear: BP will know no rest until the wells will not be under control and that we do not understand what happened," he said.

Ficth puts his two cents

BP has several weeks to manage its bad reputation. The group would also relies on advisers to help him. The efforts required will be considerable, especially since the rating agency Fitch has come to contribute to the debate on Tuesday, lowering the notches of six notes of the British major. The latter is now BBB AA cons. Fitch maintains it under "surveillance implications". The rating agency is particularly concerned that BP may be forced by U.S. authorities to place large sums into accounts in receivership.This is the first time that the note of BP is lowered several notches by the three leading rating agencies worldwide and it falls below the AA.

At the London Stock Exchange, BP shares ended the session on a further drop of 3.78% to 342 pence while the FTSE close up on 0.30%. In New York, the action is able to earn 2.18% to 31.31 dollars during the session on a market up 1.22%.

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The crisis in Greek and the euro area worry the president of the United States. "I am very concerned about what is happening in Europe," said Barack Obama during an interview Thursday with the Russian television channel Rossiya and released Saturday. The nervousness in global markets and the increasing concern of investors towards the debts of states caused by the Greek problem posing "serious threats" to the United States, "said Bush.

"I think the Europeans have realized that it was very serious. Greece takes measures very difficult in any case they have put in place a plan that calls for tough measures, "he acknowledged."If we can stabilize the situation in Europe, it will be good for the United States, and it will be good also for Russia."

Realizing the gravity of the situation, the EU should announce before markets open Monday morning, creating a "Community mechanism to intervene" to save the states on the brink of bankruptcy. The European Commission was working on an emergency this weekend to present a convincing ministers of the European economy, which meet on Sunday afternoon.

Reflecting the importance of time, Silvio Berlusconi, Italian Prime Minister, and Nicolas Sarkozy, have decided not to travel to Moscow for commemorations of the end of the Second World War. The French president also meet his ministers Sunday night about the crisis in Greece.

Nevertheless, the United Kingdom has indicated that he would remain behind."We do not want to participate in a European emergency fund," said a British diplomatic source told AFP on Sunday.

Week chaotic

European shares and U.S. were closed on very steep declines Thursday and Friday. Protests against the rigor enameled three died in Athens on Wednesday, and unexplained sudden fall of the New York Stock Exchange during the day Thursday and fear of contagion from the crisis in Spain and Portugal have marked one week chaotic markets.

The statements have increased in recent days to encourage European leaders to act. "We hope to see emerge a strong and rapid European response to crisis", said, quoted by Bloomberg, the Canadian Finance Minister Jim Flaherty, who hosted the G7 on Friday."We call for an answer as quickly as possible given the circumstances," insisted the Australian Minister for the Budget, Wayne Swan.

Some central bankers have started their Sunday meeting fortnightly at headquarters of the Bank for International Settlements (BIS) in Basel, Switzerland. The crisis in Greek and the fragility of the euro should hold the debates, which will include the present President of the European Central Bank, Jean-Claude Trichet.

The Greeks accept the rigor

Nearly 55% of Greeks prefer an austerity plan to bankruptcy, according to a poll published Sunday in the daily Vima. Over 56% are even willing to accept wage cuts. Contradictory result, however, the same poll found that 53% of respondents felt the need to continue to protest against the austerity of the Papandreou government.

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The Dow Jones fell to 9873 points, while he was at 10,880 points in early trading.

Unemployment is leveling off in the euro area. 10% in March 2010, the unemployment rate adjusted for seasonal variations remain in effect identical to that for the month of February. A year earlier the rate was however lower at 9.1%. The EU as a whole is a bit lower at 9.6% in March 2010, also unchanged from the same month a year earlier, Eurostat said on Friday.

So these are 15 million unemployed in the euro area accounts in March, 23 million for the EU-27. In one year, Germany is the only one EU country to have recorded a decline in unemployment, falling 7.4% to 7.3%. All other countries saw their unemployment rates increase because of the economic crisis.But are Latvia (the rate jumped to 14, 3% to 22.3%), Estonia (from 7.6% to 15.5% between the fourth quarters of 2008 and 2009) and Lithuania (from 8.1% to 15.8% between the fourth quarters of 2008 and 2009), which record the highest increases in the EU low fee pay day loans.

If it were up to now difficult to find a tandance about the evolution of unemployment figures, said Societe Generale's analysts now tend to think that the situation should improve in the second quarter.

It should be noted that the rate of female unemployment is still slightly higher than men (10.1% against 10%), but posted a much lower increase. The youth are always the most affected by unemployment, with a proportion of 19.9% in the euro area and 20.6% in the EU.Spain and Latvia beat on this sad record, with respective rates of 41.2% and 44.9%.

Investors began to doubt when the morale of U.S. households showed slightly damaged on Friday. However, U.S. exchanges had entamn? sitting instead in the green – after three consecutive sessions in the green – through retail sales better than expected.

At the close on Friday, the Dow Jones closed up 0.12% at 10,624 points while the Nasdaq and the S & P 500 have ended in any small fold, respectively, from 0.03% to 2638 points and 0.02%, to 1,150 points.

Retail sales in the United States have resisted to the bad weather in February. Against all odds, they rose by 0.3% compared to January (in data seasonally adjusted) while analysts felt they had declined by 0.2%.

But a little later, the publication of the index calculated by the University of Michigan has sown doubt.Americans are less moral than the beginning of the year. The indicator is in effect in March fell to its level of December, to 72.5 against 73.6 in February. Economists had forecast on 74 March. This is the second straight month of decline for the index, highly regarded as the tone of the current economic

News that fell after other statistics rather reassuring, even if they still emphasize economic problems overseas. Like the U.S. trade deficit fell to 37.29 billion dollars from 39.9 billion in January. For specialists Barclays Exchange, "it is a pleasant surprise to the extent that economists were expecting a deficit of 41 billion dollars."Other good news side of the labor market "listings weekly unemployment fell to 462,000 from 469,000 the previous week.

Oil prices retreated Friday in New York, the surprise cut in U.S. consumer confidence prompting traders to take profits. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for April delivery finished at 81.24 dollars, down 87 cents from the previous day cash advance payday loan .

Citigroup has blown

Rated values of the fertilizer industry was bustling Friday at the NYSE by the withdrawal of Norwegian Yara in the race for the acquisition of Terra, leaving the field open to CF Industries.At closing, the Norwegian Yara International, has renounced improve its offer to buy Terra (-1.32% to 46.28 dollars), allowing the hand to CF Industries.

Meanwhile, Canada's Agrium (7.94% to 72.08 dollars) has dropped its hostile takeover bid, one year old, against rival FC Industries.

Financial stocks continued to be relatively sought. One of the largest increases in the Dow Jones was signed by the issuer of credit cards American Express (1.67% to 40.78 dollars).

The CEO of Citigroup on Thursday promised a return to profitability of the bank. The state could get rid of all of its shares within twelve months. The title of Citigroup rose 30% since the beginning of the month and by 20% since the stock market Monday.Friday, the shares resumed their breath, down 5.26%, to 3.96 dollars.

The health sector was neglected while the debate on reform of health coverage in the United States seems to be entering its final stretch.

The decline as Pfizer (-1276% to 17.07 dollars) weighed on the Dow Jones. The pharmaceutical company announced late Thursday the failure of three clinical trials of two molecules of the department of oncology.

In the energy sector, Devon Energy (-2.17% to 70.48 dollars), the specialist production of oil will sell at BP Plc for seven billion dollars of assets located in Brazil, Azerbaijan and Gulf of Mexico.

Note also the manufacturer of semiconductor National Semiconductor announced after the close of the NYSE, a profit of 53.2 million, or 22 cents a share against 18 cents expected by analysts' consensus.Turnover was 361.9 million against 348.6 million expected by analysts. The securities have grapill? 0.14%, to 14.36 dollars.

The meeting on Thursday could be better than yesterday, concluded on a clear downward. The Cac 40 could waltz between red and green, like the Tokyo Stock Exchange Thursday. Or choose to enthuse the good growth figures, choinoise, as the Nikkei this morning.

Asian markets have, however, ended in a fragmented, mixed with fences in the area. The Nikkei finished sharply higher, but other stock markets ended in red. China's decision to limit loans to prevent bubble and an overheating economy has affected the trend in early trading before the growth figures do not change the situation.

The day before this decision had a net effect: all the financial markets have ended in the red.Wall Street in particular closed down 1.14%, Paris fell by 2%, 1.67% London personal business card .

Relaxation towards the euro-dollar

As for currencies, the euro weakened further against the dollar. It lost 0.09% on Thursday to 1.4097 dollars. The news should be appreciated by the export values.

The markets will also be very vigilant to macro-economic statistics to be published. In France, is known to 9am PMI flash January. INSEE unveil at 9:30 figures of entrepreneurship in 2009 and 12, the average annual inflation in 2008 and 2009. Across the Atlantic, the U.S. will publish the number of weeks claimed unemployment at 14:30, the composite indicator of economic activity from December to 16h and the index of the Philadelphia Fed at the same time.

The detailed values to follow in a moment …

"VIDEO – Tips for betting on the currency in 2010

New Christmas rigorous perspective. For the second consecutive year, the budget for Christmas and New Year would fall. An EU study, Deloitte, 34% of the French intend to spend less in 2008 for their Christmas shopping. And only 15% expect to increase their budget for gifts, meals and entertainment. In total, they spend 3.5% less than last year, and will make less of gifts: 10 on average from the 1795 French surveyed, one fewer than in 2008. Among the victims of this greater selectivity: colleagues, friends and extended families, more and more often denied this.

Paradoxical because the French are still a majority did not declare themselves to be affected by the crisis, not to be worried about their jobs and remain confident about their income."The explanation lies in their morale is very low, analysis Gilles Goldenberg, a partner at Deloitte. The psychological barrier is the major factor holding back consumption, ahead of the desire to build savings. "

Admittedly, unlike the Italians, Romanians and Slovaks, few French dare start until January to buy Christmas presents at bargain prices. But the pessimism surrounding will change their buying behavior by 24 December. 30% of them have and offer gifts … hand. "Especially young consumers and graduates of higher education, provides Gilles Goldenberg. This reflects their high rate of Internet use, where you can easily find sites specializing in used goods. "

Gifts Used

Meanwhile, the widening gap between the presents that the French would receive and those they intend to provide.On the one hand, they prefer to receive money, clothes or gift certificates. On the other, the same plan to donate books. "It's the gift that costs the least," said Gilles Goldenberg. Then there are perfumes and cosmetics, then CDs and DVDs. Consumers seem to have anticipated the phenomenon. They are almost 20%, two times more than in the rest of Europe, to consider selling their Internet presence.

The authors of the study are however positive signs. "Last year, statements of intent to lower purchases were 5.1%, they are less negative this year, relativizes Gilles Goldenberg. Hopefully, this deceleration of pessimism is the first sign of rebound. "

Until Christmas 2010, consumers do not plan to resume their old habits.They will focus more and more useful to the frivolous, the sustainable ephemeral, and expenses reflected in the impulse buying. Even young children will pay the price. Their parents have them offer educational games and books, rather than dolls, games consoles or remote-controlled cars.

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