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Caution continues in Asian markets after China on Friday issued inflation figures at the highest since July 2008. The trend is more mixed, however, that Friday, some Asian stock markets start moving forward again.

This is particularly the case in Tokyo, with the Nikkei 225 rose 0.15% to 9605.55 points, despite the resurgence of the yen against the euro and the dollar and the decline of values ​​related to telecommunications after a negative Goldman Sachs, which found that the firm NTT would be difficult to assess the impact of the earthquake and tsunami of March 11 on its annual results.

Tokyo Electronic Power (TEPCO) continues to fall, losing 1.69% to 465 yen, after acknowledging that it would take six to nine months to cool down nuclear reactors.Since the earthquake and the earthquake of 11 March, the stock has lost 78% of its value.

So on Monday morning, the euro was quoted at 119.25 yen (-0.59%) and the dollar, yen 82.89 (-0.18%). Suddenly, the export values ​​recede: Sony loses 1.05% to 2435 yen, Sharp Corporation sells 0.78% to 755 yen, Renesas Electronics loose 2.99% to 712 yen and NEC dropped 1.70% to 173 yen.

Chinese banks must increase their reserves again

Chinese markets, the trend is increasing, but progress is measured. The Hang Seng in Hong Kong is 0.16% to 24,045.30 points and the CSI 300 Index gained 0.08% to Shanghai 3361.47 points.

A further increase in liquidity reserves was imposed yesterday for Chinese banks by the central bank's objective is to constrain the credit for the fight against inflation. This increase of 0.50 percentage points will apply as of Thursday.Since the beginning of the year, the Chinese central bank had already ordered three previous increases in bank reserves in China. Bank stocks rose on the stock market: Bank of China gained 0.68% to 4410 Hong Kong dollars, Bank of Communications ahead of 0.83% to 8440 Hong Kong dollars.

Oil prices recede

Elsewhere in Asia, with the exception of KRX 100 from Seoul, which fell by 0.27% to 4551.95 points, the indices move in the green. The S & P / ASX 200 in Sydney gained 0.44% to 4873.30 points. The BSE Sensex 30 Bombay climbed from 1.14% to 19,607.40 points and the FTSE Singapore Straits Times ahead of 0.29% to 3162.45 points. The Taiwan TAIEX is stable at 8716.77 points.

Oil prices were trending lower Monday in electronic trading in Asia on profit taking after last week's gains, dealers said.In morning trading, a barrel of light sweet crude for May delivery yielded 70 cents to 108.96 dollars. That of Brent North Sea crude for June delivery retreated 42 cents to 123.03 dollars.

Christine Lagarde is good news. The Minister of Economy announced Thursday evening that the forecast deficit of France for 2011 is reduced to 5.7% of GDP as against 6% previously. "We had committed to 6% for the year 2011 and I will announce tomorrow that the European partners have recalibrated our goal to 5.7%," she said on the eve of a meeting Budapest with its European counterparts.

Christine Lagarde also said it "maintains its forecast for growth to 2% for 2011, given all the indicators in manufacturing or in services."

Acceleration of activity

In his memo on the economy released on Thursday, INSEE rightly emphasizes that economic activity in France in the first half of 2011 will see an "acceleration"."In our scenario, the shocks go, resist the activity," summarized Sandrine Duchêne, head of the economic situation of the Institute.

INSEE, includes such an "acceleration of activity in early 2011 in France with a" rebound "of 0.6% growth in first quarter (compared to first quarter 2010), driven by manufacturing, followed by a "slowdown" to 0.4% in the second. France was well into mid-table European with Germany in pole position (1.1% in the first quarter, 0.6% in the second, according to INSEE).

To achieve the 2% increase announced by Christine Lagarde, France should show 0.7% in each of the third and fourth quarters, noted Jean-François Ouvrard, Head of Division cyclical synthesis.A new upturn in the economy would be necessary.

Rebound in exports

According to the institute, the French economy has benefited from a "rebound in exports early this year" in an international environment considered a "carrier". INSEE also relies on a catch-up "point" in public works, after a harsh winter. "A dynamic self-sustaining recovery has also been engaged for several quarters in France and consolidated, based on investment and employment," says Sandrine Duchêne.

Household consumption would be favored at the beginning of the year by the effects of "tail" of scrapping with the delivery of vehicles ordered before December 31, 2010.

The "shock" of food prices

Regarding the purchasing power of households, Insee said it would progress only (+0.1%) in the first quarter of 2011, before the second 0.3%.It would be sealed by the "resurgence of inflation" found after the oil shock of recent months. According to INSEE, inflation would be 1.9% year on year in June against 1.8% in December.

The "shock" to come will likely be about food. "Rising raw material was passed shortly, French singularity ', and its impact on consumer prices by distributors should intervene in the coming months.

Unemployment stabilized at mid-year

Regarding employment, the paper discusses the INSEE stabilization of unemployment by mid-2011. "On the horizon of the forecast, the unemployment rate would stabilize.It would amount to 9.1% of the workforce in France (9.5% including Dom), at the end of the second quarter of 2011, "INSEE said.

The increase in jobs in the first half of this year should be a little stronger than that of the working population (29,000 people) "supported" by phasing out the exemption from seeking employment. Because between January and June 2011, job creation would total 76,000 posts.

In the commercial sector (excluding agriculture), the most sensitive to economic conditions and has restarted last year, 78,000 new jobs would emerge, after 60,000 in the second half of 2010. 10,000 jobs would be created as non-employees.But in the non-profit, employment decrease of 7,000 positions, "because of declining admissions in subsidized contracts, while farm workers would fall by 5,000.

Through the mechanism of adjustment of wages to inflation, they should increase. But, despite this increase in nominal wages, real wages should remain stable in the first half, especially against the resurgence of inflation. "In Public, real wages continue early 2011 slowdown that began in 2010." The average salary per capita (SMTP) growth would fall by 0.9%.

No contagion from the debt crisis

Prudente, INSEE noted however that a number of uncertainties could affect its forecasts commme tensions on European sovereign debt."The current crisis seems to be very localized in Portugal," says Sandrine Duchêne, however, saying "the risks of contagion to all sovereign debt of the eurozone less important that a few months."

(With agencies)

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The German publisher Axel Springer has gained control over 95% of the company of small ads on the Internet Seloger.com from the extension of its tender offer (OPA) announced the Authority Financial Markets (AMF), confirming a report from Reuters. "It (score) Stalinist," said one of those people.

The success of this operation means that SeLoger.com may soon bid farewell to the Exchange. Indeed, the French stock exchange law authorizes the issuer of a tender offer to delist its target if he can control at least 95% of its capital at the end of its range. The results of the extension of the tender offer to 38.05 euros per share is expected to be formally announced Wednesday by the Financial Markets Authority (AMF).

A company owning more than 95% of another listed company for the possibility to via IPO Squeeze (OPRO), to redeem all shares on the market. Investors then have the obligation to tender their shares to the offer as opposed to a takeover bid. This procedure is also called "squeeze out". Specifically, the delisting occurs most often in the form of a Public Buyout Offer (OPR) followed by a takeover of Squeeze (OPRO, which will compensate the shareholders of the company Payday Loan for Bad Credit.

The delisting is not excluded

Axel Springer has not formally ruled out making a "squeeze-out on SeLoger.com, but also said he has nothing against the act of keeping one of its acquisitions listed, as is still the case for Aufeminin, another French star net bought by the German publisher.Out a group of stock and raise its stake to 100% allows the shareholder to make a tax consolidation and reassembling easier dividends to the parent.

For its part, SeLoger.com announced Monday that he expected a double digit growth of its key financial indicators in 2011 thanks to record levels of hearing and that he intended to double its dividend . After a fierce battle market, Axel Springer was able to convince management and major shareholders of SeLoger.com. After his first offer, the publisher of the German tabloid Bild controlled nearly 75% stake in the company.

(With agencies)

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Renault management will be held accountable to employees disoriented and increasingly frustrated. "Since the beginning of this case, teams are troubled because management has never been able to bring the three elements that warrant dismissal. This is all that some people complained of enjoyed a genuine will on the human level, "said one of them. But today, when leaders make about face, the executives, who had to take over two months during the certainties of management, are extremely frustrated and worried. Their confidence in top management crumbles to the rhythm of press revelations, "he says.

"We're clearly not happy and we are asking more questions about how the investigation was conducted and how decisions were taken. In any case, what has been done does not match what we expect of our leaders.It's very shocking because it is a denial of our culture. These three frames were attached to the company, as I am and my colleagues, "says an executive from a different direction. Resentment towards the top of the company is palpable. "We welcome the decision to return the frames unfairly jeopardized if it is confirmed that this is the case.We demand further that meet at an earlier board special for Patrick Pelata and Carlos Ghosn, the two CEOs of the company, speak on this matter and take everyone with their responsibilities, " said Friday a representative of the CFE-CGC.

"Ghosn must take the consequences"

Patrick Pelata, number two in the group, who said in Le Figaro that if there was no case of espionage, he "will draw all the consequences," accusing eyes are now turning to Carlos Ghosn, CEO . "I think that employees would not understand that the CEO does not resign, especially since it does not have a capital of sympathy particularly high," said a third frame. Many people accuse him of having undermined the group."Carlos Ghosn said he expressed his certainty in the media to protect the company, but in reality, if all that is wrong, it will have destroyed our reputation by falsely accusing employees. It must draw the consequences, "adds the frame.

Employees also questioned the management style that would have resulted in these abuses. "If these three executives were sanctioned on the basis of the testimony of one person, it means that person's word is worth more than the employees, accuses Fabien Gache, central delegate of the CGT. We call for a thorough review of the organization Renault employees must be respected and listened again.Today, all decisions come from above. "

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This is a first in the middle of the car. Citroen has launched this week the first site of services for organizing trips run by a manufacturer. Citroen named Multicity, this site allows you to organize the weekend and stay long term, buy a ticket or train and book a hotel. Not to mention renting a vehicle anywhere in France for a period ranging from several hours to several days.

The site has nothing to envy to the travel-sncf.com or Expedia.fr. The manufacturer has indeed relied on industry experts as GoVoyages and lastminute.com to set up his project. Result: the services provided are as complete as those of operators."Whether it's a journey of everyday life, a professional meeting or organize your holiday in France or abroad, with Citroen Multicity build your route from door to door and book immediately" Can we read in the section of the site presentation.

Competitive Rates

From bus to subway, boat to the aircraft via the bike, Citroën offers a search engine to find the best route "custom tailored to your budget and your schedule." The manufacturer also promises very competitive rates for car rental (from 22 € per day and for only 14 euros, our valet pound down to you "). Train tickets are those of the SNCF, Eurostar or Thalys trains and flights covering 1000 destinations. For hotels, the offer is very wide, with 60,000 establishments proposed worldwide.

The brand customers enjoy perks such as buying online mapping to update their GPS or download a map of speed cameras.

Operation Diversification

With this remote reservation terminal, Citroën is clearly the turn of diversification. This strategy had already materialized with the launch of a site rental vehicles in September. But a few months of summer vacation, the manufacturer has chosen to go further: "Today, travel is not always easy and it requires a good knowledge of the various means of transport possible to achieve these trips, "says the manufacturer in the columns of Le Parisien on Saturday.

Citroen still promises to expand its range "in time" to "promote mobility. Objective: to become profitable within two years to come. "

Optimism is back this Friday on the Paris, following the CAC40 was in the red all week. The benchmark index in Paris closed up 1.51% to 4070.38 points. For the week, the Paris index was down 2.09%, but reaching back to the symbolic 4,000 mark.

Therefore reversed the trend on Friday, OPEC's speech on its probable involvement in the event of disruptions in oil supplies has restored color to the financial markets. Starting with Wall Street.

Even optimism squares Europen, the FTSE-100 index of London Stock Exchange gaining 1.37% to 6001.20 points. For its part, the DAX index of the Frankfurt Stock Exchange gained 0.77% to 7185.17 points.

United States: Growth and Consumption lowered

In France, INSEE published a fall in consumption of the French in January.Business failures for the month of September 2010 will be known at noon.

United States, economic growth in the fourth quarter was revised down Friday to 2.8% annual rate, according to a second estimate published by the Commerce Department in Washington, against 3.2% after first estimate in January.

Consumption, which accounts for 70% of GDP, grew 4.1% annually over the previous quarter, against 4.4% initially estimated.She made 2.88 points growth.

U.S. consumer confidence rose in February to its highest level since January 2008, according to an index published by the University of Michigan, which was revised sharply upward Friday, 77.5.

Side currency, the euro lost it again ground against the greenback under $ 1.38, to exactly 1.3746, down 0.41%.

On the podium of the largest increases of the week are two banks: Credit Agricole (3.64%) followed by Natixis (3.48%). Saint-Gobain (+0.64%) completed the podium.

Conversely, Lafarge has the highest drop since the beginning of the week: -7.79%.Then there Vallourec (-6.92%) and Accor (-5.15%).

EADS loses the contract of the century in favor of Boeing

CGG Veritas: 9.79%, to 26.14 euros – the largest increase SBF 120

The oil services group announced Friday a net loss for the fourth quarter due to special charges related to its plan to improve profitability. The group is free cash flow positive 2011.Il said its industrial investments and multi-client should reach 600 million dollars in 2011.

EADS – 0.53%, to 20.66 euros – stronger and only decrease the CAC 40

The aerospace manufacturer lost the tender for the delivery to the U.S. Air Force, 179 tanker aircraft, after the invalidation of the previous contract awarded in 2008.It was eventually awarded to rival Boeing, but the European manufacturer has 10 days to appeal on this contract of 35 billion dollars.

LVMH: 3.56% to 113.60 euros

Dior fashion house LVMH subsidiary, has suspended its creator, the British designer John Galliano, accused of uttering anti-Semitic and racist slurs against a couple Thursday night in Paris where he was arrested before be left free business card.

Thales: 2.97%, to 27.43 euros

Ten days after a profit warning, the specialist defense electronics, aerospace and security, has published annual results sealed by provisions amounted to 721 million euros related to contracts as underachievers 'Military Transport Aircraft

Saint-Gobain 5.52% to 43.02 euros – the largest increase CAC 40

The building materials group aims to accelerate its organic growth this year, in line with the rebound in activity recorded in 2010, driven by industry demand and buoyant emerging markets. Its CEO, Pierre-Andre de Chalendar also put on a strategy of acquisitions more aggressively.

Valeo: + 9.55%, to 44.72 euros

The automotive supplier has returned to profitability in 2010 and resumed the payment of a dividend for the year past.He expects an improvement in its operating margin in 2011, driven by buoyant U.S. and Asian automotive markets.

Eiffage: 8.51%, to 43.78 euros

The company intends to renew growth in 2011 after a third consecutive year of stagnation in sales, concessions have yet to offset the sluggish construction.

Aeroports de Paris: 0.32%, to 63 euros

The group announced Thursday the results conform to expectations with growth of 5% of its Ebitda to 927 million euros in 2010. By 2015 it wants to increase by 40% in 2015 compared with 883 million registered in 2009. Its sales rose 4.0% to 2.739 billion euros in 2010 – despite an almost permanent traffic – and net income group share grew by 11.3% to 300 million.EPA anticipates a recovery significantly higher than expected air traffic in 2011 which should enable it to accelerate slightly the growth of its revenues and EBITDA.

Air Liquide: +0.84% at 92.65 euros

The gas giant said Thursday night that a financial institution entrusted the mission to assist for the realization of part of its share repurchase program authorized by its shareholders last year, within a million titles.

Sanofi-Aventis: 0.82%, to 49.71 euros

The lab announced Thursday the approval and completion of the acquisition announced in October 2010, Chinese BMP Sunstone, for 520.6 million dollars ($ 10 per share). The transaction will allow it to create a platform for public health in China, strengthening its presence in emerging and non-prescription drugs, two of its major growth drivers.

After the close, the Bel cheese (stable at 35.06 euros) will also publish its annual turnover.

Asian stock markets continued their slow descent into hell. Third day of the week, third session in the red for almost all Asian financial centers, much still shaken by the political crisis in Libya. Suddenly, Wall Street closed sharply lower Tuesday, the Dow Jones dropping 1.44% to 12,213 points.

The atmosphere is also not great on Wednesday on Asian stock markets. The Nikkei 225 Index was down 0.81% to 10,578.50 points and 2.6% since the beginning of the week. Note that Japan's trade deficit has ballooned in January, reaching 471.4 billion yen (4.17 billion euros), due to significant oil imports, while exports have stagnated.

In addition, the yen continues to appreciate against the dollar, a dollar quoting yen 82.59 (-0.22%).As a result, values exporters like Toyota are battered stock market, the Japanese automaker fell 1.2% from 0.5% and Canon.

Only Shanghai and Mumbai are progressing

In China, financial markets were mixed after a report released Tuesday by the U.S. central bank has concluded that the Chinese currency, the yuan might well be overvalued against the dollar. And contrary to what it believes the Obama administration. The CSI 300 Index gained 0.19% in Shanghai to 3169.58 points (-2.55% since the beginning of the week).In contrast, the Hang Seng Index in Hong Kong lost 0.43% to 22,891.30 points (-2.53% from Monday).

The trend is clearly negative on other financial markets: the Taiwan TAIEX index dropped 1.67% in Taiwan to 8528.94 points, the KRX 100 Index Seoul yields 0.43% to 4182.40 points, the S & P / ASX 200 Sydney Index was down 0.22% at 4845.90 points and the FTSE Singapore Straits Times Index fell by 0.35% to 3008.62 points. In contrast, the BSE Sensex 30 Index of Bombay captured a slight increase from 0.18% to 18,328.40 points.

Crude prices continued to rise Wednesday morning markets in Asia, supported by the thrust of violence in the Arab world and particularly in Libya, a major producer of black gold, analysts said. In morning trading, a barrel of light sweet crude for April delivery gained 4 cents to 95.46 dollars.That of Brent North Sea crude for April delivery has appreciated by 22 cents to $ 106.

France succeeded his exam. "Frankly, we are satisfied, we are not far from having achieved more than we hoped," let go Sunday a collaborator Christine Lagarde, visibly relieved. It must be said that the meeting this weekend in Paris was a test for the French presidency.

"Not many of you believed in!" Launched Saturday night a French negotiator to reporters, his eyes riveted on the final communique obtained at the price of a colossal task. The strong statements of China before the summit in fact left little hope for an agreement on indicators. Christine Lagarde, herself, had prepared the minds of this hypothesis: it would "not a tragedy," she said."You have no right to fail, it would be the death of the G20!" Was firmly told, however, Nicolas Sarkozy, welcoming ministers and central bankers at the Élysée.

"Not a wink" of the night

The objective was clear: get an agreement, which does someone lose face. During the day Friday, Christine Lagarde received most of G20 ministers to move forward in bilateral negotiations. The dinner that evening was unsuccessful, however, China – backed by Turkey – camping on his refusal to see the exchange rate listed as an indicator of global imbalances. Xie Xuren, the Minister of Finance of China even tried, after dessert, get the support of its German counterpart, Wolfgang Schäuble. This, however, tried to persuade him that an agreement would be beneficial to all …

22 hours, it was the turn of deputy ministers take over.The Director of Treasury, Ramon Fernandez and his colleagues spent the night Friday to Saturday, without a wink. But without success. Several formulation projects were rejected. "I just had time to shave in the toilets before the talks resumed on Saturday morning," confided Saturday Sherpa of the minister, smiling despite the missing hours of sleep.

Saturday morning, the French presidency then decided to leave everything flat. At dawn, Christine Lagarde and Ramon Fernandez were drafting a new compromise text, new working basis: in the new version not only foreign exchange reserves were disappearing, but the exchange rate, although mentioned, were no longer a indicator per se.

Noting this change in tone of the French presidency, during a coffee break, the Chinese Minister Xie Xuren lifted his veto.Still had to approve the document by 18 other countries …. The game was less difficult. During lunch, based on feedback, "we changed a word, then another," says Ramon Fernandez.

At 15 am, a bailiff distributed the final text, while another offered a plate of macaroons designer colors of 20 countries. A general reading was made without objection, which allowed a deal to snatch a few minutes before the closing press conference … "Everyone applauded, but it's true we had doubts until the last time, we recognize in the French camp."The talks were frank and sometimes tense," said Christine Lagarde modestly summary, aware that the hardest work to do to achieve this unprecedented agreement.

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The U.S. stock market opened slightly lower Tuesday after Monday's meeting Temin virtually in equilibrium. The Standard & Poor's 500 and Nasdaq 100 down 0.33% at 1327.87 respectively points and 0.26% at 2809.97 points. For its part, the Dow Jones fell back from 0.31% to 12,230 points.

On the macroeconomic front, the United States, the publication of indicators have been mixed disappointed traders. In January, import prices surged due to a further rise in energy costs. They rose 1.5%, almost almost twice the consensus forecast (0.8%).

Furthermore, the Empire State index measuring industrial activity in New York came out slightly below expectations, despite a faster rise in February.He climbed to 15.4 against 11.9 in January, its highest level since June, but 1inférieur the 15.5 expected by analysts.

For their part, retail sales began the year without much enthusiasm after the sharp increase in fourth quarter 2010. The 0.3% increase recorded between January and February is the lowest in seven months, and well below the 0.5% expected by analysts.

The United States has also attracted less net capital flows to long-term in December: 65.9 billion, after 85.1 billion in November.

The side of values, the earnings season coming to an end.The figure, however, operators monitor Dell on Tuesday after market close, those of CBS, Qwest Communications or Analog Devices, tomorrow and the annual results for CBS, Comcast and Nvidia on Thursday, and finally those of Campbell Friday.

On the foreign exchange market, the euro was still up against the dollar on Tuesday, buoyed by the German figures reassuring despite persistent pressure from concerns about the fiscal health of fragile area euro.Vers 15:00 to Paris, the euro bought 1.3535 dollars against 1.3486 dollars on Monday to the closure, after falling in the day from Monday to 1.3428 dollars, the lowest since three weeks.

Marriott will split into two listed companies

Marriott International, 3.85%, to 42.58 dollars

On Wall Street, the hotel company announced after market close Monday its intention to split into two publicly traded company, with one side of the other hotels and timeshare operations poor credit personal loans. The new entity specializing in timeshare brands will use the Marriott and Ritz-Carlton, while Marriott International will focus on the activities of hotel accommodation, including franchisees. In 2010, the timeshare industry has posted a turnover of 1.5 billion made on 71 sites with over 400,000 multi-owner and approximately 10,000 employees. After paying a special dividend, the Marriott family should hold 21% stake in each of the two companies split.The group also reported a quarterly profit increase, the economic recovery accompanied by an increase in business travel. Net income for the fourth quarter was $ 173 million or 46 cents per share, against 106 million or 28 cents per share, a year earlier.

Fedex: 2.46%, to 96.30 dollars

Also after market, the group messageriea lowered its targets for the current quarter The group now expects earnings per share and 90 cents entre70, fork down 25 cents.The group says that performance-cons by harsh climatic conditions and rising fuel prices explain this.

Chevron: -0.57%, to 96.40 dollars

Always on the side of values, The Chevron oil company has been fined eight billion dollars for the pollution caused by Texaco, a company he bought in an Amazonian province of Ecuador, a decision against which he has promised to appeal.

NYSE Euronext: -6.21% to $ 37

Also note, while boards of directors of the exchange group NYSE Euronext and Deutsche Börse in talks for a merger, may announce an agreement soon on Tuesday, the press reported a possible offer by the Chicago Mercantile cons Exchange (CME), the world trade in raw materials.

Genzyme: + 0.73%, to 72.29 dollars

The series Sanofi Aventis / Genzyme continues.A merger agreement between the French laboratory and the American biotechnology should be signed shortly. Sanofi, however, should extend its offer a third time on Genzyme and continue along its negotiation. The expiry of the offer is midnight New York time on Tuesday or Wednesday 6:00 pm Paris time. In Paris, the title of Sanofi-Aventis rose slightly from 0.13% to 49.99 euros

Pressure is mounting on motorists: Never pump prices have been near record levels in June 2008 when a barrel familiarly the bar $ 150. According to the latest statistics of the administration, the super unleaded 95 (SP 95) averaged at 1.467 euros per liter, 2 cents of the historic peak of 1.488 euro. The diesel has a little more leeway: it now stands at 1.284 euro, against 1.438 in 2008.

These prices can be surprising because the Brent crude in London is changing these days around $ 100, far below the peaks here are two and a half years. However, in the meantime, the dollar has appreciated against the euro, highlighting the pump the impact of soaring crude prices. Over the next few weeks, most experts believe that prices could still rise.They are based primarily on the wave of tensions in the Middle East set to continue.

For now, fuel consumption, which covers about half the French demand for oil has not yet been severely impacted. According to figures released Friday by the French Union of Petroleum Industries (Ufip), it rose 0.2% last year, the increase in diesel sales (+2.1%) to address the decline in supplies Gasoline (- 6.2%). It is the fruit of dieselisation French fleet, with more than 70% of new registrations.