Avtovaz does not leave this market segment to competition from China or India. Granta is sold 220,000 rubles (5,600 euros). A price that is far below that of a Logan entry-level, hence the idea of the ultra-low-cost.

The rest is a matter of industrial process and sharing platform, the concept dear to car manufacturers and enabling them to lower their production costs.The Granta benefit from the platform of the Kalina, a model launched in 2004 which has not met with great commercial success. "Renault has helped teams Avtovaz to improve the quality of its models," said a spokesman for the French group. In addition, Avtovaz build its new city (of a size comparable to a Twingo) in its factory in Togliatti, 1,000 kilometers from Moscow, where labor costs remain low.

Tomorrow, the export?

For the Russian manufacturer, it is not missing the boat. This will be the first model launched by the "new" Avtovaz. However, the group really need to burnish his image and give it a quick facelift.

The Granta is primarily intended for the Russian market. But, like other Lada, it may be exported. "Renault will use this model was not defined e ', do you know in French. Everything is possible.Includes entry into the Western market for a new model even cheaper than Logan (7,600 euros in entry-level, excluding promotions).

Through Avtovaz, Renault approaching the threshold of new symbolic price of 5,000 euros which had underpinned the launch of the Logan, they are not reached by the group. For now, only few Chinese manufacturers and Avtovaz succeeded. In other words, there is no new car, responding to Western standards to 5.000 euros. The Granta could come fill this gap.

Other models of the group will soon be built at the factory in Togliatti. Beginning in 2012, adapted versions of Logan Lada station wagon and van will be manufactured, followed by Nissan, Renault and then two. A location of production that overcomes the prohibitive tariffs imposed by the Russian government.

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On the foreign exchange market, the euro is strengthening its progress against the dollar Friday on funding fears of slowing economic recovery in the United States. In the morning, the euro was at 1.2975 dollars against 1.2941 dollars the previous day. He subsequently crossed the threshold of $ 1.30. A first for over two months.

On the side of values, the Internet giant Google has released the Thursday after the close a net result up 24.3% in the second quarter to 1.840 billion dollars for the second quarter on a turnover of 6 8 billion dollars (24%). The action yields 5.37% to 467.70 dollars.

The BP oil company, also traded on Wall Street, said Thursday at the very end of the meeting that spillage of oil had been observed after complete blockage of the wells caused the oil spill in the Gulf of Mexico Bad Credit Payday Advance. However, the title gives 2.49% to 37.95 dollars.

Always on the side of values, the investment bank Goldman Sachs said Thursday after agreeing to pay closing $ 550 million of Ammende (425 million) to end the accusations of fraud regarding the marketing of a product derived from subprime mortgages. It is the largest penalty ever paid to the stock exchange authority, the Securities and Exchange Commission, in a Wall Street firm and the third highest all U.S. companies combined. Investors seem relieved. the title is 2.81% to 149.26 dollars.

Apple has invited journalists to a press conference this Friday, then multiply that rumors of a possible recall of four new iPhones, including an antenna problem has been confirmed by an influential magazine. title wins 0.55% to 252.83 dollars.

The banks should also react Friday to the adoption yesterday by the senate of the reform on Wall Street. Besides the publication of their results. Bank of Amercia plsu yield of 6% to 14.42 dollars and 3.58% Citi 4.01 dollras.

For the full year 2010, Kaufman & Broad confirms in a statement that "a return to positive net income, which will however continue to carry the weight of years, with a view to improvement."

"The results of the second quarter of 2010 are part of the positive dynamic recorded in the first quarter, confirming the validity of the strategy of refocusing the business offer implemented in late 2008 on products more compact, less expensive and more suitable at the request of first time buyers and investors, "said CEO Guy Nafilyan, quoted in the press release.

Turnover down

In the first half of 2010, home sales rose 55% in value to $ 675 million euros free credit report and score. "We restart faster than the overall market," says Guy Nafilyan. In contrast, the turnover stood at the promoter of 385.7 million euros, down 7.6% over the first half of 2009.

Kaufman & Broad has announced it has signed a memorandum of agreement for the sale of all its shares and interests in Senior Health (homes of elderly dependents) for a total price of 30.7 million euros.

Completion of the transaction is subject to a number of conditions to be met by September 30, 2010 at the latest, the statement said, explaining that the buyer's name can not be revealed.

Since the beginning of the year, as Kaufman & Broad has won less than 5%. On Thursday, the title rose 5.15% at 17.75 euros.

The markets have literally beaten to a few minutes left to return to the green. Before that, the entire session was marked by a gradual decline of the indices, itself caused by the publication of a round of disappointing macroeconomic indicators:

– Entries weekly unemployment rose in the United States during the week to June 12, at 472 000 460 000 against the previous week, according to the Department of Labor. Economists had expected jobless claims averaged 450,000. The entries of the week to June 5 were also revised up from an initial estimate of 456,000.

– Consumer prices in May have suffered their biggest drop since a year and a half under the ambit of the sharp drop in energy costs. The index of consumer prices adjusted for seasonal variations show a decline of 0.2%, the biggest drop since December 2008. Economists and analysts were predicting a similar decline after a decline of 0.1% in April.

– The current account deficit widened in the first quarter to 109 billion dollars, or 3% of GDP, compared to fourth quarter 2009. This is his third consecutive quarterly increase since the low of $ 84.4 billion in the second quarter of 2009, when the international commercial exchange had significantly contracted due to recession.

– The index of industrial activity in terms of the Federal Reserve of Philadelphia has emerged significantly weaker than expected in June and called for a fragile economic recovery in the United States. The index came in at 8 in June as against 20.9 expected and 21.4 in May The employment component falling in the negative, at -1.5 against 3.2 in May, the lowest since November 2009.

– The index of U.S. leading indicators registered a record high in May, according to the Conference Board, suggesting that the recovery of the U.S. economy will continue. The index rose 0.4% to 109.9, after having stagnated in April. Economists projected an increase of 0.5%.The index should continue to increase but more modestly in the coming months due to an unemployment rate still important.

Little comfort in Brussels

The markets were also attentive to the summit of European leaders in Brussels today. Following discussions, the French president Nicolas Sarkozy has sought to reassure markets about the financial health of Spain. Thus, any rescue plan would be the agenda, contrary to rumors markets.

European shares closed higher on a small, grim. The euro, however, is ironed for the first time since late May over the threshold of $ 1.24, to 1.2413 dollar to 18 hours.

AOL supervised

On the side of values, according to several American media, the internet group AOL (1.66% to 22.65 dollars) is about to give the social network Bebo to an investment fund, Criterion Capital Partners, a small fraction of the price he had paid to take it two years ago.

Always on the side of values, FedEx (-0.05% to 78.11 dollars) Wednesday reported a quarterly profit slightly above expectations.

Also note Apple (1.73% to 271.87 U.S. dollars) which said it had registered more than 600,000 bookings for the new version of the iPhone during the first day of marketing.

JM Smucker (6.58% to 61.55 dollars), a group specializing in food, has reported a turnover of 1.07 billion dollars for its fourth fiscal quarter and a Earnings per share (EPS) of $ 1.07 before exceptional items.

Pier 1 Imports (2.62% to 8.23 dollars) a manufacturer of furniture, for its part, reported an unexpected profit adjusted under its first fiscal quarter in favor of improving its sales business on a comparable basis and its margins.

MGM has put up for sale last year, following its inability to pay its bills. She had received several proposals, three were still in contention at the end of last week. The company, which had initially hoped to sell two billion dollars, must be examined this week, not totally exclude the possibility of remaining independent fast cash loans .

The Hollywood studio has contracted a debt of 3.7 billion dollars five years ago, and he suffered falling DVD sales that affects the entire industry.His library of 4,100 films is yet to dream all his competitors.

MGM owns the rights to include the James Bond series, including those who are running. Time Warner owns the news channel CNN and Time Magazine.

The proposed closure of the Dunkirk refinery is the source of the national strike in late February that poses the threat of a shortage of fuel. The refinery has 370 direct employees and 400 to 450 employees subcontractors.

Total pledged to each employee in the establishment of Flanders' work at Total matching skills.Another promise: "no closure or sale" of French refineries will happen within five years.

"We are under no illusions about the future of the cracker, which produces gasoline, but we want to keep refining crude oil is still profitable," said Philippe Wullens Delegate South Majority on the site. "If we make the observation that the commitments made by Total and the government during the movement are not met, then restart the strike, the CGT threat.

Substitution project

Before the start of the meeting, Total has confirmed its participation in the construction of an LNG terminal by EDF in the port of Dunkirk. The agreement provides for "an equity Total capital 'of society, Dunkerque LNG, a subsidiary of EDF responsible for the construction of this terminal will terminal.Ce regasification capacity of between 10 and 13 billion cubic meters per year.The decision regarding its actual construction will be taken before the summer and could be put into service in 2014. It remains "conditioned on obtaining all regulatory approvals and the completion of commercial procedures and tenders for construction."

This project would mobilize up to 1,200 people during construction "and could generate" at least fifty direct jobs, which should add about 150 jobs indirectly "in the operating phase out the two groups. The Industry Minister Christian Estrosi had rightly warned that the Dunkirk refinery would reopen if there was "no real alternative project" to maintaining employment.

But this news should not necessarily good news for employees. The CGT and Sud believe that this project is too distant and "inadequate" to compensate for job losses.Today at 12 hours, the employees of Dunkirk a protest in front of the seats in Total Defense.

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On the macroeconomic front, INSEE publish European surveys monthly and quarterly business survey for January, turnover in wholesale trade and other business services, and retail and personal services for November.

Finally, OSEO organizes an annual press conference on the balance sheet in 2009 and priorities for 2010.

In the euro area, prices of industrial production for the month of December are expected.

Investors will also be attentive to promises of home sales for December and auto sales for the month of January, the United States.

On Monday, U.S. President, Barack Obama, said in its draft budget for 2011 it expects a continuation of unemployment to 10% on average and a 2.7% growth for 2010 against 2% forecast in October, before growth of 3.8% expected in 2011.

Values cars suffer Technicolor climbs

Like the CAC 40, car values, after opening upward, plunged into the red Peugeot, Renault, Michelin lose respectively 0.94% to 23.83 euros, 0.71% to 35.07 euros and 1.14% to 57.38 euros. Michelin has acquired 30% stake in the company Shanghai Michelin Warrior Tire for 18 million euros, lost 0.41% to 57.80 euros.And despite the announcement of Toyota and the increase in registrations in January.

France Telecom (-0.15% to 16.77 euros) has announced the replacement of Didier Lombard by Stephane Richard, on March 1.

Vivendi (-0.33% to 18.34 euros): M6 (M?tropole TV), whose shares gained 1.63% to 19.68 euros, sells 5.1% stake in Canal + France to an amount of 384.2 million euros. The transaction will be effective February 22. In order to strengthen the South American market, Vivendi would negotiate with its counterpart Mexican Televisa to buy a network of 20,000 kilometers of optical fiber sold by the Mexican Commission for electricity for a total of 47 million euros .

EADS (-1.12% to 14.12 euros): Discussions on the financing of the Airbus A400M military formally resumed this week in Berlin after three meetings that have petered out.Representatives of EADS and Airbus as well as seven states that customers aircraft transporting troops and equipment will try, February 4, to find a compromise on sharing the additional costs of the program.

As for publications, sales of Vinci (-0.36% to 38.57 euros) is expected after-hours trade, Gameloft (1.29% to 3.92 euros) will also publish its results for 2009.

Technicolor (formerly Thomson) has signed a partnership contract with Warner Bros., after creditors and shareholders have approved the restructuring plan to reduce debt by 2.8 billion euros to 1.55 billion euros . The action rises from 4% to 1.01 euros.

Poweo (+1.96% at 15.10 euros): Lo?c CAPERAN, Poweo CEO, says in The Tribune on Tuesday that the supplier of electricity and gas French record loss of more than 75 million euros in 2009.

The unions and the French Government have no desire to see Renault again reduce the number of factories dedicated to producing a successful model of the brand. Especially since it would probably at the expense of France. Carlos Ghosn, the president of Renault, has already explained that the cost of a Clio made in France was higher than 1 400 euro to that of a Turkish Clio. The launch of the Clio IV could be the opportunity to transfer production to sites of low-cost labor.

Thus the French factories focused somewhat more on vehicles with high added value.Positive point of this distribution: it guarantees, at least initially, the future of research and development. The "low end" is reserved for countries with lower wages. But the trade-offs of such an organization are numerous and feed the concerns of employees of the French group. Firstly, the Renault plants remain highly specialized and model-dependent for their success.

The critical size

the cost of a Clio made in France was higher than 1 400 euro to that of a Turkish Clio. (DR)

The index nippon has benefited from a weaker yen against the dollar and the rebound of Japan Airlines (JAL) of 34.85%, with the announcement of a loan from the state. According to press reports, the Development Bank of Japan will double its credit line Surla airline, to 200 billion yen, or about 1.5 billion euros.

The first Japanese airline, ordered to quickly find an American partner, decided to partner with Delta Air Lines and join the SkyTeam alliance at the expense of American Airlines and Oneworld, said the biggest Japanese newspaper, Yomiuri Shimbun in its online edition Monday night.

Conversely, the company Mizuho Financial, the second listing the most active in terms of volumes on Monday, has surrendered 1.81%. Other financial value, Mitsui Financial Group dropped 1.13%.

The broader Topix index was in turn earned 8.16 points (0.90%) to finish at 915.75 points.

Less enthusiasm elsewhere in Asia

Considering the Asian region as a whole, the S & P Asia 50 operates up to 0.37%. The Hang Seng index in Hong Kong lost 0.29%, to 21,809.36 points, when Shanghai fell back from 0.14% to 3432.64 points and Singapore fell by 0.22%, to 2891.3 points.In another sense, the Australian Stock Exchange rises 0.12% at 4876.3 points. In India, the Bombay Sotck Exchange 500 takes 0.68%, to 6888.95 points.

Crude prices were up Monday in electronic trading in Asia for the first meeting of the year, while Russia has suspended its oil exports to Belarus, transit-key deliveries to Europe , dealers said.

The barrel of light sweet crude for February delivery took 61 cents to 79.97 dollars a barrel, while that of Brent North Sea at the same maturity, gained 53 cents to 78.46 dollars.

Note that the north of Asia suffered a snowstorm unprecedented weather services of South Korea have indicated that record snowfalls have nailed the aircraft on the ground and caused chaos on Monday the country's roads.Schools were closed and transport were disrupted Monday in northern China after two days of snow that must be followed by extremely cold temperatures as low as -32 °.

For the record, Wall Street closed down last Thursday: The Dow Jones lost 1.19% and 0.92% on Nasdaq.

The group Wendel has 17.5% stake in Saint-Gobain, a French group of building materials and distribution. The sale of options on securities held in this building group he helped to collect 163.4 million euros immediately reassigned to prepayment. The 300 million being supplied by the treasury Wendel.

At the same time, the group Wendel reported a deferred bank debt of $ 1.231 billion. The debt, originally composed of two tranches, is now split into seven tranches maturities between 2012 and 2015.An operation rescheduling of debt which should provide greater financial flexibility to the family holding company which holds stakes in Oranje-Nassau, Legrand, Stallergenes or Bureau Veritas.

The title gained 2.80% to 42.63 euros on the Paris Bourse.