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Shortly before the opening of Wall Street index futures Standard & Poor's 500 and Nasdaq 100 retreated 0.51% respectively to 1302 and 0.67% points to 2293 points, suggesting an early session in the red. The Dow Jones was due in part to its decline from 0.41% to 12,149 points.

The day before, the U.S. stock market had entered into an indecisive session slightly higher. The results of the first quarter of JPMorgan, though strong, were certainly enthused the stock markets, by and of the Atlantic. But they also left Wall Street more lukewarm. The title JPMorgan also yielded 0.83% at closing."The outstanding consumer loans, down from 8.50% in the quarter were disappointing in this publication," suggested Christian Parisot at Aurel BGC.

Obama's speech and the Beige Book Fed's call for caution

Prudence markets, fueled by retail sales figures mixed, could also be explained by the expectation on Wednesday, after closing a speech of Barack Obama since the George Washington University, the preferred solutions for fight against debt and deficit. The U.S. president has proposed including more taxing wealthy households.Objective: to reduce the U.S. deficit of 4000 billion over 12 years.

The Beige Book Fed unveiled, also on Wednesday evening, has not reassured the markets: according to this highly anticipated release, "the Japanese disaster of 11 March will have a greater impact than expected on the U.S. economy , "because of disruptions in sales and production (especially on the East Coast and central United States)," says Franklin Pichard, Director Barclays Exchange payday loans guaranteed no fax.

If the activity has continued to improve in the United States, this improvement has been uneven from one region to another. Soaring commodity prices began to threaten corporate margins and consumer spending.According to the Fed, the housing market remains depressed, even if the labor market, however, is stronger than in February.

Producer prices and jobless claims

Side indicators, foreclosures in the United States are divided on the rise in March, said this Thursday, the specialist firm RealtyTrac, which are expected to grow further in the coming months. In total, 73,174 homes were seized by creditors in March, up 13% from February, according to figures from RealtyTrac.

On the agenda of the day, the producer prices for March will be announced at 14:30, at the same time that the registered unemployed.This Thursday and Friday, also held the ministerial meeting of the G20 in Washington.

Google and Hasbro unveil quarterly leursrésultats

On the corporate side, after Alcoa and JPMorgan, it is this Thursday, Googleet Hasbro unveil their accounts in the first quarter.

Zipcar, a U.S. car rental self-service, also announced Wednesday it fixed at $ 18 the price of the 9.7 million shares it plans to market Thursday, which would an IPO at some $ 164 million. This price action, revealed in a document released Wednesday by market authorities, beyond the range of 14 to 16 dollars advanced last week.

The negotiations have accelerated over the past week between Jean-Bernard Levy, CEO of Vivendi, and its counterpart Vittorio Colao, CEO Vodafone. The two sides finally reached an agreement Sunday to 7.75 billion euros plus the payment of a dividend of 200 million euros in the first half, Vivendi puts his hand on the 44% stake in SFR it does not already own. The transaction is expected to close in late June 2011. This sum values ​​SFR to 17.6 billion euros, or 6.2 times its EBITDA. A valuation standards-compliant transactions in the telecom sector.

With this transaction, Vivendi finally control the entire second French telecom operator who weighs 12.5 billion euros in sales and has 21 million mobile customers and 5,000,000 fixed customers."For the first time since the creation of SFR in 1987 by Generale des Eaux (Vivendi ancestor) that the second French operator has a single shareholder," said Jean-Bernard Levy, CEO of Vivendi. However, SFR and Vodafone will retain preferential trade agreements for three years. These agreements relate to roaming subscribers of SFR in France and beyond those of Vodafone when they travel to France. The agreement also covers joint management of major international clients. "Now more SFR may be present outside of France and develop new services for its customers," said Jean-Bernard Levy. However, Vodafone will not be the operator of Vivendi's holdings abroad as Morocco Telecom and GVT in Brazil. For these operations, "Vivendi will retain management," said Jean-Bernard Lévy

SFR occupies an important place in the Vivendi group.During the years of crisis in 2002 when the group collapsed under 32 billion euros of debt, he found his salvation by acquiring a majority stake in SFR from British Telecom for 4 billion euros. Thus, Vivendi could access the cash flow of its telephone subsidiary, which enabled him to honor the payment of its debt. SFR, Morocco Telecom and GVT, Vivendi telephony is clearly becoming a telecoms group. Its media activities: Canal +, Universal Music and Activision Blizzard are now a minority. However, the group intends to use the cash from SFR to strengthen it.

"Last but not negligible for Vivendi shareholders, this transaction will increase our annual profits, which allow us to increase the dividend for 2012," promises Jean-Bernard Levy. The current dividend is 1.40 euro.

ALSO READ: "Vivendi cap on redemption of SFR and Canal +

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It was expected that the two "small" U.S. operators Sprint Nextel and T-Mobile (subsidiary of Deutsche Telekom) have joined forces to resist the pressure of the two "big", Verizon Wireless and AT & T.Bombshell: the giant AT & T, the number two market heavyweight 95.5 million customers, who captured the number four, T-Mobile for $ 39 billion.

AT & T should thus take the place of leading U.S. mobile phone he had lost to Verizon in early 2009, posting 129 million subscribers and a turnover of $ 80 billion in Mobile after the merger .

If AT & T, formerly incumbent U.S. broke out in 1984 by the court to give birth to "Baby Bells", and finally restored, starts the mega acquisition is that it is itself threatened by the emergence of New players: Net giants Apple and Google.

Faced with the explosion of mobile Internet created the success of smartphones, iPhone in mind, the telcos are obliged to invest massively scale their networks, but does not affect revenues. AT & T was the exclusive distributor of iPhone in the United States from 2007 to February 2011 made the bitter experience: back to the boom in mobile internet traffic, its congested networks had broken down in cities like San Francisco and New York, then being told the boss of AT & T that the iPhone was his "worst nightmare".Traffic on the network of AT & T has increased 8000% in four years and by 2015 it should be 8-10 times higher than in 2010.

"The race to size"

"The problem of operators today is to be paid for the huge investments they are forced to make their networks to support the explosion of data traffic," said Virginia Lazès, associate director of the bank Bryan Garnier. The answer is the race for size. It can rebalance their magnifying powers face the giants of the Net. On the one hand, with 130 million customers, AT & T will carry more weight in discussions with Apple, which often resemble a standoff.On the other hand, being larger, its business model becomes more relevant because it can generate synergies in investment and marketing. "

To address this bottleneck networks, AT & T has begun the deployment of 4th generation network (known as LTE). The acquisition of T-Mobile will save him time. "With additional capacity and frequency network, we can better meet the current requirements of our customers, build for the future and help achieve the objective of the President (Barack Obama) America connected a wireless and high- flow, "commented the CEO of AT & T, Randall Stephenson.

"The regulator should not oppose the FCC not to this level because there is a political will to accelerate the transition to 4G mobile broadband.The United States would indeed catch up in 2G/3G mobile compared to Asia and Europe, "said Stéphane Dubreuil, associate director of the firm Sia Council. A reverse pattern of France, where the regulator has pushed early 2012 arrival of a fourth operator, with Free? Do not forget that the U.S. has a plethora of regional operators (Alltel, TracFone, U.S. Cellular, MetroPCS, Cricket, Jump Mobile, Dobson Cellular, etc.). "In fact, the U.S. market was ultraconcurrentiel returns to normal and the French market was oligopolistic becomes competitive," says Virginia Lazès.

The CAC 40, which won in the 4000 points on Monday night, amid record oil prices and gasoline, returns to form on Tuesday: the index 0.32% to 4003.19 wins points in early trade. The DAX index of the Frankfurt Stock Exchange opened, it, up from 0.69% to 7211.06 points while the Footise London gained 0.31% over the closing Monday at 5,992.30 points .

Last night, Wall Street has yet suffered during the black gold but this morning, Asian stock markets have evolved around the equilibrium. Tensions in the oil market will settle down when in fact that Nigeria, Kuwait and the UAE will increase their oil production by April to offset higher prices that now exists as Libya comes into civil war with an additional 300,000 barrels per day, according to the Financial Times.This morning, oil prices let loose ground: in the electronic exchange of the night, a barrel of light sweet crude for April delivery yielded 1.41% to 103.95 dollars. That of Brent North Sea fell from 1.16% to 113.71 dollars.

French growth of 0.8% in first quarter

Side macroeconomic figures on Tuesday to watch: Bank of France said Tuesday forecast growth of 0.8% of gross domestic product (GDP) of France in the first quarter of this year in its monthly business survey. The survey on business climate shows a continued growth of industrial activity in February, but at a slower pace than in January, the indicator remained stable 110. The business climate indicator in services has increased in parallel from one point to 102.

Moreover, the trade deficit widened from France in January, to 5 fast payday loan no faxing.89 billion euros against 5.60 billion the previous month, seasonally adjusted data, the Customs said Tuesday.

In Germany, it will follow at noon, industrial orders in January (Destatis). No statistics are expected this afternoon from the United States.

Scor: net profit up 13%

At the Paris Stock Exchange on Tuesday morning, Michelin took the top ranking (1.99% to 58.89 euros) the Cac 40, followed by Accor (1.25%) and Axa (+1.18% ). Red side, Alcatel Lucent was down 0.15%, 0.06% of Capgemini and GDF Suez of 0.02%.

The SBF, Scor (1.78% to 21.43 euros) stands out. The reinsurer recorded in 2010 net profit up 13% to 418.0 million euros, above expectations, thanks to a surge in financial products, according to a statement released Tuesday.It is also in talks to buy the U.S. Transamerica Reinsurance, a subsidiary of its Dutch rival Aegon, reports Bloomberg.

Air France-KLM (-0.34% to 11.60 euros) reported on Tuesday morning traffic on a February increase of 4.9% capacity increase of 5.1% annual rate . This brings "a quasi-stable load factor to 77.6%," says the airline in a statement. Passenger numbers rose 5.7% to 58.1 million.

Side values, the oil services group Technip (-1.28% to 70.72 euros) has signed a contract worth around 45 million euros for the Gjoa Field Development in the Norwegian North Sea, he said Tuesday in a statement.

To be continued this evening, after-hours trading, the 2010 earnings of Havas and BioMérieux.

The big French companies have practically recovered their health dazzling pre-crisis! The combined profits of the forty groups of ACC and reached 82.15 billion euros (1), up 83.5% over 2009! "These results are good, although still lower than 15% for those records in 2007," said Pierre Sabatier, in PrimeView. Sales of these major groups have rebounded, approaching their pre-crisis. Golablement, the 40 stars of the Paris stock exchange recorded a turnover of EUR 1.26974 trillion, up nearly 7% over 2009. Companies have restructured and reduced their debts much since the crisis began."They benefited in 2010 of an enabling environment, financing conditions very favorable from a raw material prices relatively low and a recovery in global growth driven by emerging countries," Pierre Sabatier analysis.

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The year 2010 was marked by a return to better fortunes of banks and insurance companies, but auto manufacturers. Other companies have also created surprise. "About half of large listed announced results that exceeded analysts' expectations, however high," says Claudia and Panseri at Societe Generale.If the telecom industry or certain values (Vallourec) were somewhat disappointed analysts, pharmaceutical (Sanofi-Aventis), the consumer goods sector (Danone, Essilor, L'Oréal), luxury and technology companies (Alcatel ) did better than expected. "For some groups, it is merely a technical rebound. But others have found, or exceeded their profits before the crisis. This is the case of the automobile (Renault, Peugeot), steel, construction (Saint-Gobain, Lafarge) or luxury (LVMH, PPR), "said Christian Parisot at Aurel BGC.

Companies will be pampered and invigorated their shareholders by donating about 40 billion euros in dividends. "The crisis of the past, but has left its mark. Businesses remain cautious and even if they have a lot of cash, they invest little for the moment, "said Pierre Sabatier.Especially since the year looks a bit more complicated than 2010. Certainly, the consensus of analysts expects an increase of 11% of the results of the ACC in 2011.

"Sectoral Differences"

But these forecasts are somewhat compromised by the soaring prices of raw materials and oil, which if continued could weigh on consumer spending. "For now, we're not too worried because global growth is buoyant, particularly in the United States. This should allow companies to increase their turnover and profits, "said Claudia Panseri. "But if at the end of the second quarter, oil prices remain too high, companies could face new difficulties," she nuance. For some economists, margins, now at their highest, might suffer. Corporate profits should be less homogeneous."There will be more pronounced sectoral differences. Companies that can raise their prices to cope with rising commodity prices should fare better than others, "suggests Christian Parisot.

(1) These results were calculated using for EADS, Alstom and Pernod Ricard, the earnings estimates of analysts.

The champions of profitability are in the health and luxury

Health, luxury and drink: this is the ranking of the most profitable of the CAC 40. With a net margin of over 17%, the pharmaceutical group Sanofi-Aventis is by far the head of the most profitable companies in the benchmark index of the Paris Bourse. Despite competition from low-cost generic products, the blockbuster drugs that markets the group remains a fantastic source of profit, even if it tends to decrease from year to year.That's why Sanofi-Aventis accelerates acquisitions in the biotechnology sector. Activities located far upstream of the research cycle that will not suffer competition from laboratories specializing in the exploitation of patents has fallen into the public domain. It responds to this concern that the takeover bid of 20.4 billion currently on American society Genzime.

"The other champions of profitability are all protected by strong brands and recognized internationally, said Pierre-Yves Gauthier, strategist of financial analysis firm AphaValue.The strength of the brand is even considered an asset, it is a guarantee of high profitability and sustainability of future earnings. "There is nothing surprising in these conditions to see in the list of the groups with the most comfortable margins of LVMH, the world leader in luxury, L'Oreal, which remains a true superstar on the cosmetics market, but Pernod Ricard, which has to focus on the segment of premium spirits. These are sectors that benefit from the excellent image of France abroad.

Technological advance

"The common point of companies like LVMH, L'Oreal and Pernod Ricard, is that their high level of profitability does not only depend on their ability to protect their margins. It also relies on the strong business growth in emerging countries but also in the U.S., where business goes.That's what investors look primarily, "said Francois Mallet, head of research at Kepler Capital Market Action. In another area, Essilor International shows very strong margins (12% on net income) based on its technological lead in glasses.

Largest provider of benefits of CAC 40 with 10.5 billion euros in profits in 2010, Total is not the group's most profitable CAC 40 in terms of profit margin. It appears, however, among the "oil majors" the better off the Old Continent, far ahead of the British giant Anglo BP or Royal Dutch Shell. With 7.48 billion euros in net profit in 2010, BNP Paribas ranks among the most profitable banks in Europe. The first French bank has cleared the crisis, since the record profits achieved in 2007 is outdated.

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"CAC 40 page tour of the crisis is

"Societe Generale is 6 billion profit in 2012

After a session of ups and downs, the leading index is rising again in Paris on Friday. In mid-session, he won and 0.55% to 4083.11 points. Yesterday, Wall Street has ended on a high note. For their part, the Asian financial centers are all clearly trending up. Despite rising pressure on the price of a barrel of oil, investors should follow the trend. The publication of results, generally of good quality, also maintains optimism.

Even finding on other European financial centers, the index Foostie 100 of the London Stock Exchange and the Dax in Frankfurt Stock Exchange, respectively, advancing 0.59% and 0.84% at 6040.34 points and 7286.74 points halfway through.

Oil prices resumed their upward movement on Friday morning, the market doubts that Venezuela's proposal to find a solution to the crisis in Libya could succeed, analysts said. Libyan oil production has fallen by half because of the violence sweeping the country, announced Thursday the head of the government oil company NOC (Libyan National Oil Corporation) Shukri Ghanem. In mid-session in Paris, a barrel of light sweet crude gained 0.25% to 102.16 cents dollars.That of Brent North Sea was up 2.68% to 114.88 dollars.

On the macroeconomic front, all eyes should be turned to the U.S. this afternoon are expected when two important indicators that will give an overview of health status across the Atlantic, namely the employment figures and unemployment for the month of February (1430) and industrial orders for January (1600). After some encouraging signs in recent days on job creation in the private sector and the weekly jobless claims, figures Mensula employment should be good, say most analysts.

The euro at its highest in four months

As for currencies, the euro rebounded sharply against the dollar and the yen after ECB President Jean-Claude Trichet, hinted he might raise the rate by the European institution.At its monthly monetary policy meeting, the ECB has maintained, as expected, the rate at 1%. But the President has adopted to the press a very firm tone about inflation, stating that "strong vigilance" was needed.

Last night, the euro climbed to its highest level in nearly four months to nearly $ 1.40. Around 23 pm last night, the euro bought 1.3965 dollars against 1.3867 dollars on Wednesday at the same time, after climbing to 1.3974 dollars, a level unprecedented since Nov. 9. The European currency also climbed against the yen at 115.08 yen against 113.50 yen late Wednesday, after peaking at 115.15 yen, its highest since early November.In mid-session, the euro was worth 1.3966 dollars.

Areva more confident for 2011

Legrand – 4.90%, to 28.80 euros

Wendel (+ 2.29%, to 74.18 euros) jointly yield and KKR, as part of an accelerated placement, 40 million shares, or 15% stake in specialist electrical and digital infrastructure of the building. Yesterday the share closed up KKR of 1.61% at the New York Stock Exchange, to 1.61%.

Areva: 5.65% to 35.44%

The nuclear group has accused an operating loss in 2010, mainly because of a provision for the construction of the EPR reactor in Finland, but the specialist's public nuclear aims to grow its business in 2011.The Chairman of the Executive, Anne Lauvergeon, also said that the group did not need additional funds, especially after its capital increase to finance its development.

Hermes International boosts results

Hermes International: 1.49%, to 153.6 euros

The luxury group has announced an annual net profit up sharply from 46% to 421.7 million euros while its operating margin reached 27.8% of sales, "Best recorded performance by the group since its entry into scholarship in 1993, "says the label. Operating income also flies from 44.3% to 668.2 million euros. Sales, already known since early February reached 2.4 billion euros.The group psoposera a dividend of 1.50 euros, 1.05 euros under cons of fiscal 2009.

Eurotunnel: -1.02% to 7.24 euros

The operator of the Channel Tunnel was charged last year with a net loss of EUR 57 million which he attributes largely to the lack of insurance payments related to operating losses after the fire 2008. The dividend is still maintained at 4 cents, and management stated that if the recovery appears to be confirmed, it should remain as progressive segments. Eurotunnel expects its passenger traffic increase of about 3% in 2011.

Veolia Environnement: -1.89% to 22.56 euros

The company said net income fell slightly by 0.5% for annual sales up 2.5%. It aims to increase its recurring operating income 4 to 8% in 2011 by continuing its program of cost reduction (250 million euros of savings anticipated in 2011).In addition, 1.3 billion euros of asset sales are announced for the current year.

Renault victim of manipulation?

Renault: -0.28% at 42.84 euros

The spy case that led to the dismissal of three senior executives of the group seems to deflate, the management track now evoking a "manipulation", due to lack of evidence on the existence of the bank account 'étranger.Christine Lagarde, Minister of Economy, promised "consequences" in this case that has shaken the manufacturer for several months. A demand that Patrick Pelata, the No. 2 at Renault would be willing to bend.

Ingenico: +1.85% at 27.87 euros

The Grou announced its successful bond issue of 220 million euros, could be increased to 250 million, ocean-type.

IMS: 2.67%, to 15.4 euros

The group suffered an operating loss in 2010, a year marked by heavy charges, particularly related to the reorganization of the group and disposals of non-strategic stocks following the acquisition in July of Jacquet Metals.

EADS: 1.01%, to 19.98 euros

The parent company of Airbus, is close to deciding not to challenge the award of contract to Boeing $ 30 billion for the supply of tankers to the U.S. Air Force, said Thursday folder.The sources close to the European aerospace group could announce the decision on Friday, putting an end to a battle of ten years on this contract.

Carrefour – 3.07%, to 32.7 euros

The supermarket group has seen its vice president resign on March 1, due to disagreement with the strategy, according to the Tribune. For its part, the boss of the distributor, Lars Olofsson announced it would deploy its Carrefour hypermarket concept Planet throughout Europe from April.

Societe Generale: 0.27%, to 48.92 euros

Lebanese Canadian Bank (LCB), a private Lebanese accused the U.S. of laundering money, will merge with Societe Generale said Thursday the governor of the Lebanese Central Bank, Riad Salameh.

Note that the calculation of the new composition of the CAC 40 and the reorganization of other evidence, confirmed yesterday, have left unchanged the 40 companies in the benchmark index in Paris.Moreover, the general meeting of shareholders of Euro Disney could be an opportunity to learn more about the reasons for the surge in prices in recent weeks, including rumors of a capital input of a new shareholder.

The Paris Bourse is a small step forward Monday in mid-session. After opening slightly lower, the CAC 40 0.18% ahead of midterm to 4077.75 points. To 15 hours, the increase was more candid with a gain of almost 1% to 4110 points. Despite the good performance of Asian markets and the close up on Wall Street Friday, traders play the card of caution after a session that saw the benchmark index climbing 1.51% Paris this weekend.

On other European markets, the atmosphere is also very hesitant. The FTSE London Stock Exchange was down 0.47% to 5973.23 points while in Frankfurt the Dax symbolically advance of 0.02% to 7186.80 points.

Investors should still have their eyes on the situation in the Arab world.In Libya, the opposition, strong control of the Eastern and Western cities, was preparing to march on Tripoli and Sunday tensions have spread Sunday to Oman, Sultanate strategically at the mouth of the Gulf. Faced with these tensions, crude prices were again on the upside, a barrel of Brent North Sea exceeding $ 113.Markets will also focus on the series of macroeconomic indicators provided on both sides of the Atlantic:

– In France, prices of industrial production recorded a fourth consecutive month of sharp rise in January, rising 0.9% from the previous month and 5.6% on their progress on year, according to Figures released Monday by the INSEE.

– Inflation accelerated in January in the eurozone to 2.3% yoy from 2.2% in December, but rising consumer prices has been weaker than the 2.4% announced until here, said Monday the EU statistics office Eurostat in a second estimate.

– In Germany, import prices rose more than expected in January from 1.5% a month to month and 11.8% annually, while the consensus gave 1.0% and 11 2% respectively.In Spain, the rate of inflation increased further in February to 3.4% year on year, its highest level since October 2008

– United States will be published income and expenditure survey in December (1430), the Chicago PMI for February (15.45) and the promise of home sales in January (16h).

Note that the currency market, the euro continues to rise, still supported by speculation about an increase in anticipated interest rates by the European Central Bank for the fight against inflation when the policy committee monetary institution meets Thursday. About 11:20 am in Paris, the euro bought 1.3839 dollars against 1.3749 dollars on Friday night.

Values to follow

EADS: -0.58% to 20.54 euros

The group should still be affected by the failure of the tanker contract.EADS may seek to acquire a European group fully exposed to the U.S. defense market, essential to his ambition of becoming a global player in the sector, analysts estimated.

Furthermore, the European aircraft manufacturer Airbus announced Monday in a statement it had received an order "farm" of three A330-200 of the Malaysian company, low cost AirAsia X.

Renault: + 1.36% at 43.53 euros

The carmaker Daimler signed a new agreement whereby the French manufacturer develops electric motors for Smart and Twingo ranges, while the German group will provide the batteries, said the head of R & D at Daimler, citing a German newspaper.Both groups and deepen their alliance forged in April.

Moreover, the Figaro says it in a week that Switzerland will provide the Paris prosecutor the result of letters rogatory requested to check whether two of the three executives on suspicion of espionage and licensees have received money in accounts in this country.

Alstom: + 0.17% to 42.99 euros, Veolia: + 0.49% to 23.75 euros

SNCF, Alstom and Veolia had applied to the realization of the line high-speed train between Orlando and Tampa but the new governor has just drawn a line under this vast project on the grounds of cost and underestimated considered overestimated revenues, according to information from La Tribune.

Carrefour: -0.01% to 35.54 euros

According to Le Figaro, the group could be separated from Dia hard discount its branch.It would become completely autonomous, with no managerial or financial relationship with Carrefour.

Hi-Media: + 4.73% to 4.21 euros

Speculation grows on the value as we approach the end of the period of reflection on the future strategic commitment to the activity of micro-group. Hi-Media, announced in mid-December that it had asked the investment bank NIBC Bank to study the various possible industrial and financial partnerships around its platform and its micropayment Allopass electronic purse Hipay.

CAM: + 2.76% to 26.82 euros

The group reported a 2010 net profit of 100.2 million euros, up 11%. Revenues climbed 3.6% to 2.676 billion.The dividend for fiscal 2010 amounted to 0.82 euro, up 5.1%.

Teleperformance: -1.58% to € 26.70

World number one call center announced Monday a drop in 2010 earnings due to charges related to a restructuring that results in job losses in France.Teleperformance has spent 47 million euros of provisions in its accounts for 2010 to restructure its operations in France, of which 45 million are related to the second plan announced last summer.

Eurofins: + 6.12% to 58.65 euros

The analytical services group posted a profit in 2010 of 23.4 million and saw its sales gain 6.3% to 680 million euros.

At the close of trading, April Group, Ingenico, Steria and Bureau Veritas will announce their annual results.

Natixis: + 0.14% to 4.28 euros, BNP Paribas: + 0.34% to 56.16 euros, Societe Generale: + 0.53% to 49.80 euros

The HSBC bank auxannonces resist.The first European bank has reported a taxable income in 2010, has more than doubled to 19 billion dollars (13.8 billion euros) but reduced its target for return on equity in the long term 12-15% against 15-19% previously.

France Telecom: -0.59% to 15.92 euros

The union CFE-CGC/Unsa France Telecom said on Sunday that he feared a "partial nationalization" of Orange Tunisia, a joint venture of the French operator, Tunisian authorities have announced the seizure of assets of the Group President Marwan Mabrouk.

Accor: -0.10% to 33.64 euros

Denis Hennequin, president and CEO of Accor wants to "work on the brands" and "awaken the spirit of innovation" Hotel Group which has just taken the reins, according to an interview published Sunday in Le Journal du Dimanche.

A formula that has rained, but that leaves open many files. The roundtable, chaired by Nicolas Sarkozy after his walkabout in the aisles of the Salon of Agriculture, was rather well received by participants. "He did not demagoguery and was really aware of what was happening in the farming community," said Florence Verheyden-Valade, breeder of bison in the Creuse. It was part of the panel of invited farmers, three women and four men, "representatives of all sectors and territories", according to Franck Louvrier, communications adviser at the Elysee. There was a producer from another sheep of the Puy de Dome, a pork producer from Vienna, a wine of Herault, a grain of Loiret and a breeder of Charolais in the Nièvre.

Discussion without taboos

For more than 90 minutes, the Head of State has listened in turn and answered their questions.Environment, rising raw materials, distribution, cost of labor, many topics were discussed openly and with details. Asked about the cost of labor by Patricia Rebillou, producer of strawberries in the Dordogne, Nicolas Sarkozy said: "We reduced by more than three euros hourly cost of seasonal workers, to 12.81 euros per hour to 9, 43 euros. Adding that "this reduction in social security employer had already cost the state 500 million euros" and it was not possible to go beyond. "Nicolas Sarkozy has memory and is familiar with his records," commented Michel for his part Hamel, a milk producer of the Channel.The latter was part of the 400 farm representatives who attended the roundtable held in Area 2000, a large room in the mezzanine in Hall 1 of the animals at the Porte de Versailles.

On the environment issue, widely discussed on Saturday, the audience applauded the head of state when he said the poster campaign of ecological association FNE. "It is hurtful, humiliating, totally cons productive in some ways shocking," said Nicolas Sarkozy. "You are loved by the French more than you think as evidenced by the success of the Salon of Agriculture," he said at the farmers.

Several decrees

In a goodwill gesture, the president did not come in without his wallet. A decree recognizing the activity of methane on farms is released this Saturday.

In addition to reducing the depletion of farmland in France – at a rate of one department every seven years – another decree was issued on the topic, believing that the show is moving files around the corner. It concerns the establishment of advisory boards of county farmland. A new structure must give notice before any sales of land into building land. Transactions will now be taxed. The tax proceeds will fund innovative facilities for young farmers.

"However, Nicolas Sarkozy said nothing about the case of photovoltaics, which allows farmers to reduce their cost of production," complained Jean-Pierre Fleury, Secretary General of the Federation Nationale Bovine and rancher in the Morvan. Another disappointment for farmers, lack of clarity of Nicolas Sarkozy vis-à-vis supermarkets."While the president has insisted on a better distribution of value added over the entire chain, but was not specific enough in its intentions," said Guy Vasseur, president of the APCA (Permanent Assembly of Chambers of agriculture). "We will continue to help you be more competitive and regulate the prices of agricultural commodities. I believe the future of French agriculture, growth, development and its contribution in the foreign trade of France, "said Nicolas Sarkozy. "A frank and direct dialogue," summarized the Youth President Jean-Michel Schaeffer, leaving the space 2000. "The lyrics is good, it acts better," summed up his side Beulin Xavier, president of the FNSEA.

The French industry was surprised by its strength at year end. Output rose 0.3% in December, after rising 2.3% in November, according to the latest statistics published by INSEE on Thursday. Economists polled by Reuters had forecast a decline of 0.4% over the last month of the year.

"It was difficult to expect the same rate as in November which was marked by a sharp catch up after a difficult month of October," said Alexander Law, chief economist at Xerfi. Excluding the energy sector, manufacturing output has remained stable at -0.1%.

Energy and construction at half mast

These figures conclude a positive fourth quarter for the industry, which has seen production increase by 0.4% from the previous quarter. Compared to the last three months of 2009, the rebound was significant (+5.8%).An increase fueled by all but two sectors: construction (-4.5%) and energy (-15.2%).

In December, the index has not been fired, as in previous months, for automobile production, which remains stable at 0.1%. These are indeed "other transport equipment 'that supported the production, up 6 free business cards.2%. "The production of capital goods went well in December with a 1% increase compared to November," says Alexander Law also.

With rare exceptions such as energy (1%), all other industries appears down to the image of electrical and electronic equipment (-1.1%) or other industries (textiles, chemicals , etc..), to -0.3%.

Conflicting forces

"We believe that industrial production will slow significantly in 2011," said Victoire Dumaine-Martin, an economist at Natixis.The activity should be subject to contradictory forces. It should be drawn on one side by the dynamism of Germany largest trading partner, but restrained from each other by depressed domestic demand in coming quarters.

Other figures published on Thursday, orders to industry in Japan have rebounded 1.7% in December, the first time in four months. Over the same period, German industrial production fell 1.5% due to catastrophic weather. A hiccup that does not undermine the strength of the industry in Germany.

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"French growth: what if the optimists were right

The English are trying to shake up the French market for fast food, dominated by the U.S. McDonald's. The British chain Pret A Manger could quickly establish themselves in France. The management of the company and the investment fund Bridgepoint, the owner, studying his arrival. Their strategy? Immediately propose to the French offer meets their dietary habits and make a name quickly on the territory with a hundred addresses minimum. To achieve this, an acquisition seems a prerequisite. Bridgepoint had also identified potential targets of fast food chains that already have at least a hundred units. They are few in number to fulfill this condition: Potato Bread, Crust and The Class Croissanterie.

"The decision for Pret A Manger coming to France is taken, says a close case.But nothing is done, since the arrival of the chain depends on the success of an acquisition. At this stage, discussions are most advanced with Apple Bread but can still roll over. "Founded in 1980 and acquired in 2004 by Acto Capital (Private Equity Groupama), Pomme de Pain is mainly located in the Paris region. The chain has made more than 60 million euros in turnover in 2009.

Pret A Manger, co-founded by two college friends Sinclair Beecham and Julian Metcalfe, opened its first store in London in 1986, where she quickly became a phenomenon. So much so that in 2001 McDonald's has acquired 33% stake. In 2008, the fund Bridgepoint has taken control of Pret A Manger, for 345 million pounds.

Pret A Manger has approximately 250 restaurants, mostly in Britain. The company also has a thirty addresses in the United States and a dozen Hong Kong.With over 4,500 employees, its turnover grew 12% last year, averaging 280 million pounds. On its website, Bridgepoint said that Pret A Manger wishes to increase its number of outlets by 15% per year and that the chain wants to become "truly global" through a "controlled expansion". Obviously, Pret A Manger will not hear talk of openness. "Do not ask us to open duty-free, because we do not, the company warned on its website. We do not like the franchise. "

Upscale sandwich

"The arrival of Pret A Manger in France can impact all the concepts of fast medium and high-end type Cojean especially those developed by distributors, starting with Daily Monop," said Bernard Boutboul, Director General of Cabinet Gira Council.He said the brand strength is its triangle sandwich bread upscale, which does not exist in France. In addition, the ingredients are fresh, organic and natural, and everything is manufactured locally. A la carte, salads, soups, but also sushi, croissants, baguettes, muffins, raisin, chocolate brownies … Drink: tea, coffee, chocolate, juice and smoothie. "Our wasabi mustard sauce is brown (not green fluorescent), our ham is pale (not pink) and our Maroon dried apricots (not orange)," said Pret A Manger on the Internet, while detailing the number of calories that products it sells.