Financial News Headlines

OpinionWay poll for Le Figaro and LCI, 57% of French people say they are against an increase in VAT. Other measures announced by Nicolas Sarkozy are they rather welcome. The standard VAT rate will increase on 1 October from 19.6% to 21.2% to compensate for 13 billion euros of lower employer contributions, announced Sunday, January 29 Nicolas Sarkozy a majority of French (57%) are against an increase in VAT in return for lower social security contributions, but approves other measures announced Sunday night by President Nicolas Sarkozy, according to a survey OpinionWay-Fiducial for Le Figaro and LCI released Tuesday soir.28% of respondents are "totally opposed" to "lower burdens on wages and, in turn, the increase in VAT by 1.6" and 29% are "somewhat opposed" .42% in however, support this measure (15% "quite" 27% "fairly positive"). 1% is silent pas.La proposal of the Head of State VAT increase is accompanied by a decrease in payroll taxes. The requirement for companies with more than 250 employees have at least 5% of young people in training is approved at 90%, creating a tax on financial transactions to 77%. 65% approve of "the possibility for social partners to negotiate agreements within each enterprise to define, for example working time of employees," 53% "higher than 30% of construction rights on any ground." For Moreover, Nicolas Sarkozy is preferred to Francois Hollande for "lead France" (39% against 32%, 28% said "neither"), "reduce the debt of France" (35% against 27%, "no of the two "37%)," reform France "(34% against 30%," neither "to 35%)," to get France out of the crisis "(31% against 26%," neither "42%). The socialist candidate prevails over the incumbent president when it comes to" bring the French "(38% against 18%" neither "to 43%). Study conducted on 30 and 31 January with a sample of 1097 people representative of the French population aged 18 and older, interviewed online and constituted under the quota method.

Faurecia announced Monday new medium-term financial goals with a turnover of 20 billion euros in 2015, growth should be driven by the dynamism of Asia and the demand for technologies to reduce greenhouse gas emissions.

The automotive world leader in exhaust systems owned 57.4% by the manufacturer PSA Peugeot Citroen, said the new goal was a 25% growth on sales estimated in 2011.

In late October, said the group had anticipated for the current year revenues from 15.7 to 15.9 billion euros.

"Faurecia is now (to) outperform three to four points growth in global automotive production," he said in a statement.

In his previous plan unveiled in June 2010, the equipment was a turnover of 16 billion euros in 2014 and an operating margin of 5-6% at the same horizon.

Russia is the country whose companies are most likely to pay bribes, followed closely by China, according to the annual ranking of Transparency International. Considered a good student, but the limit of the first third of the most virtuous, France is the 11th of the 28 countries studied. As for the sectors most likely to payments of bribes, kickbacks are building and public works and utilities. To establish his record of corruption exporting countries, the NGO has asked 3,000 business leaders worldwide to note how often the companies with which they do business engaged in corrupt practices, from 0 to 10 always, for ever. In images, the largest outbreaks of corruption.

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Veolia Environnement has recently sold Eolfi Asset Management, his investment company specializing in the management of funds investing in solar and wind power, reported Monday the newspaper La Tribune.

Eolfi AM was purchased by its president and founder Alain Delsupexhe, which confirmed the operation but refused for now to communicate about the subject, the paper said.

Without specifying the amount of the transaction, a spokesman for Veolia told The Tribune qu'Eolfi, a subsidiary of Services Group had sold property investment company, which manages 113 million euros of assets, seeking Eolfi focus on its core business, the development of wind and solar projects.

No one was immediately available for comment at Veolia.

Stock markets tumbled Thursday, weighed down by the pessimistic picture of the U.S. economy compiled by the Federal Reserve of the United States and the indicator of manufacturing activity in China, which suggests that as the economy slows in the second economy world.

European shares open cuts more than 2% in the wake of Wall Street where the S & P 500 yielded 2.94% Friday. Values ​​related to the economic cycle weigh on the trend with a decline of 4.8% for the European sector of commodities.

In Paris the CAC 40 gave up 2.7% to 9.30. The pan-European FTSEurofirst 300 index lost 2.4%, while the German Dax and London FTSE down 2.8%.

In Tokyo, the Nikkei lost 2.1%.The Shanghai Composite ended down 2.8%, the percentage loss the biggest since seven weeks.

For its part, the dollar rose to a seven-month high against a basket of currencies in favor of expectations of rising interest rates in the short term as part of "Operation Twist" announced by U.S. Federal Reserve.

To come to the aid of an activity in decline, the Fed announced Wednesday it is launching a new program of $ 400 billion to increase the share of long-term securities in its portfolio of assets 2850 billion.

The central bank has warned against downside risks "significant" burden on the U.S. economy and cited "a continued weak market conditions of work".

A Reuters poll conducted after these statements shows that the primary dealers of Treasury estimate that only 15% chance that the Fed's attempt to influence long rates gives a real boost to the U.S. economy.

RISK AVERSION

The trend is also impacted by the announcement of a further contraction in September, the third in a row, the index HSBC Purchasing Managers (PMI) of China's manufacturing sector, a statistic that suggests that China can not be be not be the engine of global growth.

"These data come from China to add to the list of negative factors that everyone has in mind: the U.S. economy depressed the yen's strength against the dollar and the euro, the debt problems in Europe, the question a defect or not Greece, "Judge Koichi Ogawa, portfolio manager at Daiwa SB Investments.

The MSCI equity markets in the Asia-Pacific unscrewed 4.5%, falling to its lowest level in 14 months, while risk aversion is felt in the market for raw materials and the currencies of emerging markets.

The Brazilian real and South African rand recorded their worst daily decline since the bursting of the financial crisis in 2008.

Brent crude gave up 1.71% by 0700 GMT, while December copper fell more than 3% to 8045 dollars tonnes, the lowest since November.

In contrast, the U.S. Treasuries are up, return the paper to 10 years are even fell to a new low of 60 around 1.82%.

The yield securities declined significantly after 30 years the ads from the Fed, to 2.94%, a decrease of 6 basis points (bps) Thursday after falling 22 basis points Wednesday.

In France, just before the market opening, the PMI "flash" in the manufacturing industry has shown that the growth of private sector activity in the Hexagon in September fell to its lowest level since the beginning of the recovery in 2009, accentuated the decline in the industry while expanding services was weakening.

The insurer Lloyd's of London has suffered in the first half loss of 697 million pounds (one billion dollars, 800 million) due to an unprecedented amount of compensation for natural disasters, including earthquake and the tsunami of March 11 in Japan.

A year earlier, the insurer a profit of 628 million pounds.

Compensation totaled 6.7 billion pounds in the first half, the half of the more expensive 323-year history of Lloyd's.

Many insurers have recorded strong half-yearly losses due to recurring natural disasters, including earthquakes have account in New Zealand and flooding in Australia.

The year 2011 is currently the most severe natural disasters in compensation since 2005.In the first half, the overall compensation totaled $ 70 billion, according to Swiss Re, the second global reinsurer.

European shares rebounded Tuesday morning after diving the two previous meetings, pending the opening of Wall Street following the long weekend of Labor Day.

Investors also await the publication in the afternoon of the ISM services in the United States.

Around 10:00, the CAC 40 index contains 0.9% to 3027 points, after seeing fluctuated in both directions and tested, as before, the threshold of 3000 points. The benchmark index of the Paris stock exchange has dropped over 8% in two sessions.

"There was an overreaction, perhaps related to the closure of Wall Street.Today, there is a small spring effect, but the session will begin only with the opening of New York and the ISM, "said David Thebault, head of quantitative trading at Global Equities.

Other major European markets will also describe: London is 0.84% ​​and 0.58% Frankfurt. Of the European indices, the EuroStoxx 50 wins 0.7% and 0.7% Eurofirst 300.

Fears of a deepening crisis of debt in the euro area and its impact on the banking system, however, continue to weigh, especially financial stocks.

The Stoxx banks index remains at its lowest in 2009, around 130 points.In Paris, Crédit Agricole lost 1.7% and still Natixis 1.5%.

Gold is sought and is trading at 1873 dollars, after hitting a new record in 1920 dollars and the performance of the German government bond (Bund) 10 years back a little to 1.86%.

The euro recovers against the U.S. dollar, treating around 1.42 dollars.

European shares start falling, ending for the most up four sessions in a row, in the wake of Wall Street, in markets nervous before the employment figures in the United States.

The publication of an ISM manufacturing index for August better than expected, but still its lowest level in two years, has awakened the fears of investors about the risk of recession across the Atlantic.

At 9:40, the CAC 40 was down 1.64% to 3212.24 points after returning 5.8% in one go since Monday.

Other major European markets also declines sharply: London and Frankfurt lost 1.6%, which was already losing ground yesterday, leaves 2%.Of the European indices, the EuroStoxx 50 yields 1.78% and the Eurofirst 300 was down 1.41%.

"There is not a measure of uncertainty before the employment figures to be published in the day, while the fact that U.S. markets are preparing for a long weekend encourages traders to reduce their short positions term, "said Camron Peacock, an analyst at IG Markets.

The financial and cyclical values ​​are among the most affected.The sector index banks in Europe lost 2.13% and 2% of the insurers, with a decline of 3.6% Credit Agricole, 3.2% for PSA and 3% for ArcelorMittal.

MAINSTREAM SELLER

Deutsche Bank was down over 3% while, according to The New York Times, the federal agency that oversees the mortgage market in the United States will file a complaint against more than a dozen major banks, the German bank.

From a graphical point of view, Alexander the Drogoff Aurel BGC, sees the EuroStoxx 50 fell to 2.100/2.077 points.

"Our technical reading of the index remains in favor of the bulls failed to significantly prolong the rally and then a return to mainstream vendor," he writes.

The euro is trading at 1.4211 / 12 dollar against 1.4257 the previous day in the afternoon, while U.S. crude yields 51 cents to 88.42 dollars a barrel.

The performance of German government bonds to 10 years down to about 2.09% against 2.16% on Thursday.

Greek debt is out of control and the measures taken by the government can not restore the finances, says a committee of independent experts in a report released Wednesday.

"The sharp rise in debt, the high primary deficit (…) exacerbated in the extreme dynamics of the debt, which has spun out of control," say the auditors of the Greek Parliament, appointed by the Ministry finance.

"It is clear that the problem in this country is not only the volume of public debt, but also the inability to consolidate the current fiscal management. Despite the massive fiscal adjustment effort, no primary surplus was clear and, on the contrary, the primary deficit has widened. "

Wall Street finished the Monday session in a very small increase after four weeks of losses, closing a session with no real trend in a very fragile economic environment.

The New York Stock Exchange finished up 0.34% Monday, the Dow Jones Industrial 30 win 37 points to 10,854.65 points.

The S & P-500, wider took 0.29 point or 0.03% to 1123.82 points.The index has lost 12.7% since early August.

The Nasdaq Composite was up on its side of 3.54 points (0.15%) to 2345.38 points.

About 8.46 billion shares were exchanged during the session, is almost as much as the daily average last year to 8.47 billion.

After four weeks in a row in the red, Wall Street has had a turbulent session, alternating folds and rebounds.

The shares have been particularly cheap buyouts, some stakeholders holding that the market had become oversold and the market turned upward late in the session in a climate of extreme volatility as fears of another recession in the United States and those of a destabilization of the European financial system remain.

In this context, investors will watch carefully for signs of possible new measures to support the Federal Reserve the U.S. economy, when its central bankers will meet Friday in Jackson Hole, Wyoming.

Values, the title took Lowe's Companies 1.139% after announcing it would spend five billion dollars to buy back shares over a period of two to three years.

Boeing took the title also 1.45%. Leaders of Delta Air Lines (0.13%) should vote this week an order for 100 Boeing 737 planes worth 8.58 billion dollars (six billion euros), Bloomberg announced News, citing two sources familiar with the matter.(See)

Technology stocks like IBM (0.91%), Google (1.48%) or Hewlett-Packard (3.6%), are among the best performances of the day while financial still losing ground . The title of Bank of America fell 7.89%.