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The CAC 40 climbed 2.19% to 3,578.01 at mid-points. Optimism is also topical in London where the FTSE gained 1.65% to 5236.50 points. In Germany, where the day is a holiday but not to the Exchange, the DAX index climbed 1.66% to 6080.33 points

European markets follow the footsteps of Asian financial centers this morning. These are themselves remained on the rebound on Wall Street yesterday, which saw the Dow finished up 2.25% through the good figures for real estate and automotive. On Wednesday, the same statistics have allowed the Paris Bourse stop the slide to achieve a closing balance (-0.05%).

Selected indicators

On Thursday, markets should evolve further over the many publications of macroeconomic indicators in Europe and the United States:

– In France, INSEE reported that the unemployment rate according to ILO had remained "stable at a high level" in the first quarter of 2010 in France, 9.5% of the workforce in France and 9.9% with the overseas departments (DOM).

– Regarding the euro area: the services sector has experienced growth in May, slightly higher than expected. The index Markit Purchasing Managers (PMI) service sector stood at 56.2 in May, its growth rate was the highest since August 2007, against 56 in "flash" estimate and 55.5 in April.This is the ninth month of consecutive increase this index is above 50, is the line that distinguishes growth from contraction in activity.

– Retail sales in the Eurozone fell sharply in April when economists expected a slight increase from the previous month. In the 16 countries adopting the single currency, sales decreased 1.2% compared to March, its largest decline since October 2008, and show a decline of 1.5% over one year.

Overseas, the day should also be prosperous: Investors await the monthly report of employment in the private sector and the weekly claims for unemployment benefits.Are also expected industrial orders in April, the productivity of the first quarter, the ISM index of services activity and weekly oil inventories.

The car in sight

As for values, Valeo will hold its general assembly in early afternoon. The group expressed confidence in achieving its 2010 target of doubling its operating margin compared to 1.8% achieved in 2009. The automotive supplier is also only for the first half, a operating margin of close to 6% based on a turnover of around 4.7 billion euros. The news pushed the stock market as: the action takes the head of DTH with an increase of 7.35% at 23.50 euros.

PSA Peugeot Citroen for its part occupies the first place winners of the ACC with an increase of 5.48% to 20.60 euros.The builder, who held its general meeting Wednesday, said he would reimburse the billion loan from the State in the second half. The boss of Philippe Varin has also confirmed the target of a largely positive EBIT in the first half. He felt that the positioning of two brands of PSA was not consistent with the lower cost.

Renault, Dacia sales explode in his wake, takes 4.28% to 30.59 euros.

Air France KLM (6.04% to 10.50 euros) on Wednesday, speaking through its Chief Executive Officer Pierre-Henri Gourgeon, the voluntary separation plan of the company had achieved its objectives. This morning, the company also announced that passenger traffic up 4.3% last month, to 6.2 million passengers.With capacities of stable (+0.1%), the load factor is an improvement of 3.3 points to 80.6%.

Maxime Lombardini, Chief Executive of Free (Iliad: + 1.02% to 68.54 euros), said in an interview with Le Figaro that his group had already invested $ 350 million in fiber optics and that it will invest year more than 150 million. "I confirm that we have 4 million homes connected with fiber in 2012," he said.

Saint Gobain (3.47%) held its general meeting this afternoon.

Note that the bank still buffeted yesterday, also benefit from the euphoria: Axa (2.44%), Societe Generale (1.64%), Credit Agricole (2.67%) and BNP Paribas ( 0.27%) are in green.

The European Commission, guardian of competition in the European Union, is very interested in the station, according to Les Echos published on Monday. As for La Poste, it requires that France put an end to the "unlimited state guarantee" that the company enjoys as a public industrial and commercial (EPIC). This does not mean a change of status into a limited company, which is the sole responsibility of the French state, but this would pave the way for a reform in this direction.

The European Commission had made the same request to all Member States in July 2008 with the ambition of a Complies to share its requirements in two years, ie by July 2010.According to the newspaper, France, Portugal, Italy and the United Kingdom is problematic, one month maturity.

The guarantee unlimited public is considered a "state aid incompatible" with EU competition law by the Commission. With this guarantee, the company is in fact not subject to the law on bankruptcy and insolvency. The state covers all the group's commitments and repay debts if the company can do itself. In the case of La Poste, the transformation of the public enterprise into a limited company had solved the problem of the unlimited guarantee.

The situation is repeated Does the station? According to Les Echos, the French government sent an absolute bar to the Commission in early April, saying that "France rejects the view expressed by the European Commission will present its legal arguments because the government 's will not change the status of Epic SNCF.

On Monday, the Secretary of State for Transport Dominique Bussereau said in a statement it was "no question of changing the status of EPIC SNCF, which does not entitle its holder a competitive advantage." The statement said that France had asked the Court of Justice against the EU Commission.

From 1 July 2010 will require some additional documents to send a letter. The price of the stamp of the priority letter weighing less than 20 grams will increase from 0.56 to 0.58 euro, an increase of 3.5%. The economic costs will also increase by two cents to 0.53 euros.

This is the sixth increase in eight years. The price of the stamp for a letter of less than 20 grams had already earned a penny last year. But Post said she "is in the average tariffs in Europe even though the universal service commitments of the post office and geographic constraints are higher in France" instant payday loan.

"The rising price of stamps will have a minimal impact on the household budget, or approximately 0.10 ? per month per household," the statement said.In addition, The Post said they considered the economic situation by adjusting charges for companies depending on their situation: there will be no change for major mailers and the increase will be 0.6% Small and medium enterprises.

After Societe Generale, Wednesday, BNP Paribas has just released its quarterly results and at the same time its exposure to the debt of Greece. Then it reported a net profit increase of 39.1% to 2.28 billion euros for the first quarter, BNP Paribas has introduced to date, exposure to the debt over the Greek French banks are high. It amounts to 5 billion euros, plus three billion euros of trade commitments on private Greek companies. The bank said that the Greek private sector credit represents only 0.2% of total commitments of the group, while exposure to the debt of the Greek state only weighs just 0.4%.

"If we place ourselves in the short term, the biggest risk is exposure to private debt, said Christian Parisot, an economist and chief strategist of Aurel BGC.The establishment of an austerity plan would have a negative impact for the economy of Greece. It brings about a contraction of 3 to 4% of GDP, would increase the risk of default of households, less creditworthy than a State, and consequently the business.

For its part, Societe Generale, which also pleasantly surprised investors with a net profit of 1.06 billion euros for the first quarter, announced on Wednesday an exhibition at the Greek debt of 3 billion, in addition to its 54% stake in the bank Greek Geniki Bank, whose loan portfolio stood at four billion euros at the end of March.

57 billion euros of exposure to Greece for French banks

Regarding Credit Agricole and Banque Populaire and Caisse d'Epargne (BPCE) which must publish their quarterly results on 12 and 11 May, they have already announced their exposure to debt Greek make quick cash. On Thursday, Credit Agricole said its obligations associated with the Greek state reached 850 million euros, 600 million euros for its Greek subsidiary Emporiki. But the last poster, in addition, a total loan portfolio of 22.7 billion euros, according to results released Wednesday. On Friday, Credit Agricole has reported that its total exposure amounts to nearly 30 billion if one takes into account the commercial commitments of Cr?dit Agricole CIB, its subsidiary bank financing and investment.

As the group BPCE, exposure to Greece amounted to 2.1 billion euros, of which 882 million euros through its subsidiary Natixis. BPCE exposed to 1.4 million euros to the Greek sovereign debt and Natixis to 160 million euros. In contrast, private debt is fully supported by Natixis to the tune of 722 million euros.

According to statistics from the Bank for International Settlements (BIS) in late 2009, French banks are exposed to the tune of 75.172 billion dollars (57.41 billion euros). This amount placed at the head of global banks most exposed in Greece.They are followed by German banks, which are up to 45 billion dollars.

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Greece, Portugal and Spain. Southern Europe continues to frighten the markets. The Spanish saw its debt rating one notch worse, with a negative outlook.

Between degradation rate and retention Note

During a joint press conference yesterday, Jean-Claude Trichet, president of the European Central Bank, and Dominique Strauss-Kahn, director of the International Monetary Fund, have called on Germany to take an expeditious decision on aid Greece. Both men say they are confident. German Chancellor Angela Merkel seems he heard the message, since it has declared its intention to activate "as quickly as possible" aid plan.

Fortunately, a decision from the United States has been somewhat reassure financial markets. The Fed has indeed confirmed keep interest rates low for a "prolonged period".And this, despite a rapid recovery of the economy.

In this context, it will be interesting to see how values are changing bank, after they have been two sessions in the red. Above Credit Agricole said Wednesday night that its exposure to sovereign risk in Greece amounted to 850 million euros.

Quarterly Results: Sanofi-Aventis, and Technip for ArcelorMittal

Among the values that have posted Wednesday, PPR has returned to growth in the first quarter after five consecutive quarters of downturn, and said Tuesday anticipate a further acceleration in sales during the year.

The day of Thursday will be rich in quarterly publications: ArcelorMittal, France Telecom, Suez Environment, Sanofi-Aventis, Pernod-Ricard, Vivendi, AXA, Bouygues, Areva or Michelin publish.

Renault has announced that the equity between the group, its Japanese partner Nissan and Germany's Daimler had been made Wednesday. The three groups have formalized their alliance in early April for three to share technologies and reduce costs.

The U.S. unemployment statistics in the heart of the day

On the macroeconomic front, the day will, however, less responsible.On the program, the weekly claims for unemployment benefit, which will be published at approximately 14.30 U.S., unemployment for the month of April in Germany and in April business confidence in the euro area.

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Return to growth and confirmation of annual targets for the manufacturer of industrial and medical gases Air Liquide has posted this Monday morning pre-market turnover for the first three months of the year.

Total revenues for the group led by Beno?t Potier amounted to 3.152 billion euros against 2.997 billion over the same period of 2009. An increase of 5.2%. The company listed on the CAC 40 was that the increase of its activity has occurred in all business sectors and in all geographic areas.The emerging areas, however, contributed to the improvement.

"Unless a major turnaround in the economy, Air Liquide in 2010 is a new growth in net profit in the continuity of its historical performance," said the CEO, which states that "the discipline in terms of cost management and cash (…) has been maintained during the first quarter of 2010 and the ratio of operating margin was slightly higher than the average for the year 2009."

Emerging markets drive our business

Gas & Services activity (2.76 billion euros, 8.3%) is indeed characterized by "a marked contrast between mature economies (+5% compared to Q1 2009) and emerging economies (28 %), while activity Industrial merchant finds the path of growth, although sales in the mature economies still lower than the first quarter of 2008 before the crisis easy payday loans.

Large Industries recorded a rebound in activity, particularly through the start and ramp-ups in China, South America and the United States. The electronics is experiencing a rebound, supported by sales of specialty gases.Finally, health remains strong, always worn by home care.

During the first quarter, Air Liquide welcomes the signing of three new contracts with steelmakers in China, construction of new production capacity of liquefied gas to India and starting five manufacturing facilities in emerging economies.

The group also continued its acquisition strategy in health.

Air Liquide outperforms

Since the beginning of the year, Air Liquide shares rose 6.43%, with a gain of 0.31% on Friday, listing at 88.37 euros. The CAC 40, it has seen its course take only 0.38% since January 1, 2010.

If in 2009, they were virtually stable operating margin of Air Liquide rose to a record level of 16.3%.Air Liquide profits rose an average of about 8% per annum over the last twenty years.

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Adeus Portugal! Carrefour prepares to leave Portugal. According to our information, the number two global distribution has taken the decision to sell the 524 hard discount stores it operates locally under the brand Minipre?o. The French group is preparing to start the transfer process. Contacted by Le Figaro, his spokeswoman declined to make comment. The Portuguese are attached to Minipre?o Dia hard discount branch of Carrefour.

Last year, its turnover reached 915 million euros, down 0.9% compared to 2008. This development has been permitted by opening 26 new outlets. At comparable number of stores, sales fell 6.8%. If it was buckled, this sale would mean the end of the adventure Carrefour Portugal, where the group was present since 1990.In July 2007, the group had already sold for 662 million euros twelve hypermarkets, whose turnover reached 530 million euros so.

The Swiss owner of the venerable jewelry brands Cartier and Van Cleef & Arpels and Jaeger LeCoultre Watchmaking, Piaget and Vacheron Constantin, starts strong in electronic commerce. Richemont has launched an offer to acquire 100% of the commercial site with Anglo-Saxon Net-a-porter.com. He already owns one third of its capital. The deal values the start-up to 394 million euros.

Net-a-porter is one of the best success stories of fashion on the Internet. Founded in 2000 in London by Natalie Massenet, an Englishwoman raised in France, former fashion journalist in American magazines, it distributes worldwide about 300 items from great brands rather pointed, like Jimmy Choo, Stella McCartney and Alexander McQueen . The offer is presented in magazine format. The company based in London and New York last year realized a turnover of approximately 134 million euros.The founder sells 18% of the affair it still held, for an estimated 70 million euros. She will remain in place, deeply involved in its development.

"Given the amount, it is clearly a strategic investment, says it does among the Richemont instant payday loan. Net-a-porter will, like all our houses, totally independent. This will not become a channel for the group and we are pleased that the site continues to work with external marks. "So far, the Swiss has a modest presence on the site, including via its label Chloe.

Richemont nevertheless demonstrates a firm belief in the future of e-commerce for luxury. "These are consumers who will decide," Does it tempers in Geneva. So far the industry has been very careful – if reluctantly – to invest the net.The adventure of LVMH in the early 2000s in its U.S. e-luxury.com was cut short. According to a recent study by Precepta, web weighs only 3% of worldwide turnover of luxury. That figure could reach 4.7% in 2011, representing a market of 7 billion euros. The brands like Boucheron (a subsidiary of PPR), Cartier, recently the United States, Ralph Lauren and Gucci come gradually. Yoox.com The Italian, who has just come into stock, has developed a multi-brand and manages many e-shops for claws.

Tough day in prospect on Tuesday for users of the station. The strike, announced in early March, began on Monday to 20 hours and causing disruptions throughout France. Traffic forecasts for Paris and its suburbs show a movement of 65% of TGV, from 35% to 75% of ESTs, 50% for Transilien, and 50 to 60% for Corals. Southern Railroad said that the railway traffic will be "virtually nil" on the region of Paris-Est.

For international TGV (Eurostar, Thalys, Lyria, Aleo), traffic is normal.

Moreover, disturbances depend on actions by the five trade union confederations (CGT, CFDT, FSU, UNSA and Solidaires) who called officials and employees to strike. Four of them (UNSA, CGT, Sud, CFDT) actually filed notice of strike for the day.

"These trades meet, region by region, the levels set by the Act of August 21, 2007 on social dialogue and continuity of public services in the transportation of passengers, for his part said the SNCF. The latter recalls that "every note outlines the valid period will be used in any train traveling on that day, but can not guarantee seating. Travelers preferring to cancel a trip involving a train reservation for this period may do so without charge at the counter.

3 metros of 4

For its part, the RATP, three metros of 4 circulating in Paris early Tuesday morning, and 90% of buses and trams, 95% of RER A, but only a RER B to 2, according to a spokesman for the RATP.For the RER B, the interconnection Gare du Nord station with the suspended cash advance no fax .

From one point of movement performed at 6:15, "traffic is almost normal" on the Paris metro network, "with 3 to 4 metros," said the spokesman, noting that "the line is the most impacted line 10, with 2 to 3 metros.

On the RER "zone RATP", "traffic is almost normal on the RER A, with 95% of trains insured, while for the RER B" train runs of 2, with interconnecting suspended at the station North, "the source said.

Finally, "the traffic of buses and trams is about right, 90% confidence," he added.

Back to normal scheduled at 8 pm Wednesday

Traffic should return to normal for all trains on Wednesday at 8 o'clock.Meanwhile, the station offers two websites (www.sncf.com for all trades and forecasts for www.abcdtrains.com Transilien per station) and hotlines (0805 90 36 35 for Main Lines and TER and 0805 700 805 for Transilien) for more information.

A radio also updates every 15 minutes in traffic (Radio station to listen from the SNCF Direct application on smartphone and on all station websites).

To recall, the unions called the strike to demand "concrete answers" on employment, purchasing power, pensions and working conditions. Workers Power (FP) refers to the scroll and employees to strike to defend pensions.

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A sitting flat on the U.S. markets. At the close on Friday, the Dow is 0.42% at 10,779 points, the Nasdaq 0.09% nibbles at 2391 points. Only the S & P appears in a small decrease from 0.03% to 1166 points. After six consecutive sessions already in the green, investors take a break. Yesterday, U.S. markets had ended on a new annual record, always comforted by the status quo monetary decided by the Fed, and the reassurance of the U.S. central bank on the health of the economy.

Aujourd'ui, markets are stabilized by the publication of indicators broadly in line with their expectations:

– The consumer prices they have remained stable in February from the previous month, while analysts believed that there had been an inflation of 0.1%. In one year, they rose 2.1% in February when the consensus gave up 2.3%.These prices "still did not really threaten the prospect of a policy of low rates by the Fed," noted analysts at Charles Schwab.

– Registration for weekly unemployment benefits: they fell for the third straight week in the United States with the deposit of 457,000 benefit claims in the week ended March 13. This is slightly above that expected by analysts (consensus 455,000).

– Current accounts: the U.S. deficit widened in the fourth quarter to reach 115.6 billion dollars, according to figures released Thursday by the Commerce Department. It is equivalent to 2.9% of GDP in 2009 against 4.9% of GDP in 2008.

– The composite index of economic activity: the index is supposed to herald the changing economic conditions six months ahead, slowed his rise in February, rising by 0.1%.The increase for the eleventh consecutive month, is in line with analysts' expectations. The index had already slowed in January, with 0.3% increase.

– The index of manufacturing activity in the Philadelphia region has increased by 2.3 percentage points from the previous month to $ 18.9, while analysts were waiting to 18 points. This figure reflects the fact that manufacturing in this region have seen their business grow for the seventh consecutive month, and faster than the previous month. Philadelphia is one of the first cities in the United States and one of the largest industrial centers of the country till payday cash advance .

Renewed concerns about Greece, which has sealed the morale of the European investors did not appear to influence the Americans.Tensions have been rising on Thursday about financial aid in Athens, who now wants an agreement by European leaders next week, despite misgivings German, otherwise turn to the IMF.

On the currency markets, the euro fell 0.88% to 1.3615 dollar. Oil, meanwhile, ended down 73 cents at 82.20 dollars a barrel.

Nike back to growth

On the side of values, the number one sports equipment, Nike announced after the close of Wall Street yesterday, a return to growth in sales and profits. In the third quarter of its fiscal year ended in late February), Nike has made a net profit of 496 million dollars against 244 million a year earlier on the same period. A few months before the World Cup 2010, its backlog has already greatly improved and the group expects a continuation of this trend.The sporting goods company is the star of Wall Street with higher shares of 4.92% to 74.37 dollars.

China has ordered its airlines to conduct checks of their Boeing 737 after a similar decision of U.S. authorities. The decision of the Administration of Civil Aviation of China (CAAC), which covers 400 aircraft, follows concerns about possible security problems related to a component in the tail of the aircraft. The Boeing climbed 1.66% to 70.53 dollars.

FedEx (-2.36% to 91.92 dollars) announced before market quarterly net income more than doubled to 239 million, above expectations and raised its annual forecast.Revenues also exceeded expectations, up 7% to 8.70 billion, while analysts had expected 8.37 billion dollars.

Google (+0.13% to 566.27 U.S. dollars) is currently working with Intel and Sony to develop a new generation of televisions and decoders for access to the Internet, according to an article in the New York Times.

Electronic Arts (2.81% to 18.65 dollars) will launch the final version of his golf game online Tiger Woods at the back of the champion on the greens next month, its chairman announced Wednesday.