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Save the 3900 points this season. This seems to be the mission this week, the Paris Bourse. The CAC 40, which was chained Monday its fourth session in the red, troubled by rising Chinese interest rates, has opened higher Tuesday morning. He climbed from 0.27% to 3872.70 points at the opening and wins more openly 0.42% at 3878 points just before noon. Same atmosphere in the rest of Europe: the DAX index of the Frankfurt Stock Exchange has opened up 0.20% to 6984.85 and gained 0.15% to 6980.89 points at midday. The Footsie dozing However, London remained closed until tomorrow what should once again limit the volume of trade in Paris, already very quiet this summer.

Investors do not eventually follow the footsteps of their Asian counterparts.The latter, still under Chinese ads, heard the Tokyo Stock Exchange, which reacted negatively to several national macroeconomic statistics. The U.S. stock market, which reopened yesterday after a long weekend of Christmas, has closed its side in unity.

On Tuesday, several statistical trends could play during the day. In France, first, INSEE announced before the opening of markets, the growth of the French economy in the second and third quarters of 2010 was revised slightly downward, respectively up 0.6% (cons + 0.7% previously) and + 0.3% (against + 0.4%).Moreover, housing starts of new homes in France rose 9.5% year on year for the period September to November, while building permits edged up 1.5%, announced Tuesday Department of Ecology.

Most importantly, the United States, in the afternoon, will be published index of house prices, the index of investor confidence and the index of consumer confidence in December.

On the currency markets, the euro strengthens its rise against the greenback in a relatively sluggish. It trades at mid-session against 1.3244 dollars (0.62%).

Alcatel-Lucent is paying for corruption

As for values, Alcatal-Lucent was awaited.The telecoms group has agreed to pay more than $ 137 million under a settlement of a case where he was accused by the U.S. court of having bribed some officials to win contracts in America Latin America and Asia payday loans. Last February, Alcatel-Lucent said it had provisioned 93 million euros in the framework of the case. The Exchange finally responds well: in mid-session, shares climbed 1.57% to 2.199 euros and signed the second largest increase in the CAC 40, behind Michelin (2.11% to 55.14 euros) which recovering from his emotions yesterday.The automotive industry has indeed been penalized in Europe after the announcement of Beijing to limit drastically new car registrations in 2011.

In an interview with Echo, Bénézit Michel, executive director of refining and marketing of Total (+0.36% at 40.14 euros), announces that "strikes the month of October has cost 150 million euros in total" .

JCDecaux (0.73% to 23.32 euros) and Paris Airport (-0.44% to 58.92 euros) announced Tuesday the creation of a joint venture to operate the airport advertising.

Lafarge (+0.76% to 47.305 euros) sold its assets to aggregate and concrete Portugal, Alsace and Switzerland for 120 million euros.

The General Assembly of SIIC de Paris (stable at 17.85 euros) has approved the transaction Contributed by SFL (flat at 35.99 euros) in two buildings in the business district of La Defense exchange of 29.99% stake in the company.

Risc Group (+ 4.55% to 0.23 euros), which specializes in IT services, has endorsed the sale of four of its foreign subsidiaries to the STS software company for 6.1 million euros.

The banks are well oriented, rebounding after their difficulties from the previous day, especially due to the closure of London and the concerns about the Chinese rate hike, even if banks are less exposed to China: Credit Agricole (1.01 %), BNP Paribas (+0.49%), Societe Generale (1.08%) and Natixis (-0.08%) are among the highest increases.

Side of the few stocks showing a decline are Technip (+0.26% at 70.18 euros) and Accor (-0.76% to 33.31 euros).

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What could he fail to Babies rollers, Evian, a video viewed 140 million times on the Web and creative crowned with numerous awards including a Silver Lion at Cannes International Advertising at Cannes? Demonstrate that the viral is not a gadget or entertainment, but a sign of market efficiency. That's done. Monday night, the Union of Advertisers (UDA) and the Association of communication agencies (AACC) has awarded the Grand Effie 2010 at BETC Euro RSCG, for this clip already entered the "Guinness Book of Records" .

Sales of Evian in France rose last year by 7%, excluding the effect of promotions (source Nielsen). An achievement in a context where water sources have now won the favor of consumers."We can never reverse the trend, but maintains its Evian and volumes shown in this, an incredible strength," says Marielle Durandet, Vice-President of BETC Euro RSCG. In general, there is 40% price difference between a premium brand and its equivalent in a label. Between spring water and mineral water, the difference reaches 300%. This is a situation unprecedented in the history of marketing and mass consumption. "

Protect its brand

The Babies rollers "were also allowed to" Evian progress on all items (youth, health, purity overnight pay day loans…) that make up its image, "says Marielle Durandet. Full marks, therefore, for a campaign that has given only two TV waves in France. Evian media spending of around 5 million euros a year in France.For the rest, it is consumers who have appropriated the film, including the online distribution reflects the plebiscite. "It is the role of creativity in advertising. She weaves the link and guarantees public acceptance, "says Marielle Durandet.

Among the fifteen trophies awarded Monday night, Nespresso has distinguished himself by winning his fourth consecutive Effie awards, including a grand prize last year. Evidence that the agency McCann Paris manages to renew the saga starring George Clooney, without boring the audience. In addition, it is far time that the launch of the Nespresso was teaching on the market. The war rages and pods, like Evian, Nespresso has to protect its mark against the attacks of distributors.Her Effie 2010 is even more deserving.

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"The commodity markets are very nervous and agricultural change on significant levels of volatility," says Lionel Porte, specialist commodity derivatives to Euronext as part of a conference organized by the French Association of Agricultural Journalists (Afja ). Faced with this uncertainty, farmers are increasingly likely to want to hedge on the futures markets to ensure a stable income. "We now have over 5000 clients that farmers operate directly on the futures markets," said Renaud de Kerpoisson, a farmer in the Cher and founder of a brokerage firm, Agricultural Supply and Demand (ODA) in Bourges. Personally I have covered 30% of my next wheat crop at 175 euros per ton, delivered in November 2011. An approach that is not isolated."10 to 12% of our members have hedged a portion of their harvest between 160 and 175 euros per tonne," said Francois Hallard on his side, commercial director of the Cooperative Grain Champagne. Intervene in markets but is not given to everyone. "It's like the casino you can be burned wings," said Sylvain breeder in Mayenne. I sold my wheat in March to 110 euros per tonne for deferred delivery in November 2010. I'm getting a good deal but it's finally my co-op that will pocket the difference, "says this farmer disillusioned. It is better to undergo specialized training to understand this mechanism and act knowingly. "With the help of financing the fund VIVEA, this amounts to 150 euros for a full day for the farmer," says the boss of ODA.

Moreover, the futures market can not be applied to all holdings."It depends on the operating model that the farmer wants: home or business, organic or conventional crops or livestock … says his side, Regis Hochart, the Confederation Paysanne. And this engineer agronomist room Beauvais added: European public policy through intervention stocks have almost disappeared. To avoid volatility, only the futures market is now presented as a solution while not halted for much speculation. " In addition, with devastating effects for developing countries.

At the international level, it created some tension on the supply of the poor. "Hunger and malnutrition are rapidly gaining ground since the 2008 food crisis.This brings to light both the inadequacy of the current global food system and the urgent need for structural changes, "said Jacques Diouf, FAO Director-General of the Forum Ministerial Cooperation Council (GCC) spent investment in agriculture. At this Forum, held in United Arab Emirates (UAE), involving representatives of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the host country. It is no coincidence that the UAE just to create their own international trading company specializing in agricultural commodities. "To ensure its independence food or what country buys farmland abroad or he created his own trading," said a speaker from the London market.Nevertheless, in this great global monopoly, not all countries have the financial resources of the UAE to limit the effects of price volatility. Other means of intervention are to be created.

Meanwhile the markets, the price of wheat slight upturn in mid-day on a European futures market, Euronext, very cautious, watching for an easing of geopolitical tensions internationally. The milling wheat gained 1.50 to 1.75 euro (due January, 212.75 euros) less than 3.000 treated groups in the late morning showing caution operators.

"Forty lines (…) kept and modernized." Nicolas Sarkozy, on the road to Troyes on Thursday announced the signing between the state and SNCF an agreement for the benefit of interregional trains, those who are neither TER nor TGV. The agreement helps balance the exploitation of the activity. As those concluded with the regions, for example with the Ile-de-France for of the contract includes a bonus-malus system, conditioned upon compliance by the SNCF terms of quality of service, including a ponctualité.Dans interview with Le Figaro, Guillaume Pepy, the chairman of the public company, detailing the agreement. It also returns for the first time on the national social conflict that has affected the accounts and operations of the station without this time, the "block".Hats off, therefore the minimum service.

LE FIGARO – What is the purpose theINTERINSTITUTIONAL on interregional trains parNicolas Sarkozy announced yesterday?

Guillaume Pepy – The President today marked the commitment of the State to sustain a public service, vital to the balance of the territory, which was threatened because he was not funded. I applaud the work of the Directorate General for Transport and Department of Ecology has resulted in this folder "encysted" for twenty years. We are talking about 340trains serving 370 cities through 40 French lines that carry 100,000 people daily. For these intercity trains, we conclude a contract with the State shall, on the existing base, port, frequencies and equipment. Funding of 210 million euros, equivalent to the current operating deficit, will be included in the draft budget law 2011.It includes a tax on the motorway companies (35 million), a tax on the outcome of the SNCF (75 million) and another on the turnover of the TGV (100 million). The fact that this activity is now profitable will be ambitious state plans to hire 300millions euros over three years to upgrade equipment, whose average age is 40 years, before a purchase program trains New from 1 to 2 billion euros from 2015. For the station, this project is that of a new generation of public service, offensive and stronger than ever.

The contribution of the TGV will she passed on to ticket prices? Will you also get the freedom to set prices that you claim to public authorities?

That contributes to the TGV trains balance of the territory is logical and expresses a form of solidarity between regions. Those serviced by the TGV enjoy a real plus.However the TGV can not go anywhere. Of course, prices should reflect costs of service, and we'll see what the impact in the development of tariffs in January 2011. By the end of the year, we should indeed have cordoned off the discussion, not on the total pricing freedom, but on the relaxations that appear necessary instant payday loans. Already we are starting from a shared diagnosis of the economic situation of the branch train.

Our goal is that the TGV is still popular, which is a French specificity that we are proud. Therefore, for example, to make "positive discrimination" to the families, for which the car can sometimes seem cheaper than the TGV, especially if one excludes from the calculation of the purchase price of the vehicle. Thus we will fulfill more of our trains.And profitability of the industry depends on this criterion provided that the tolls we pay to RFF must also be reasonable …

What was the cost of conflict on Pensions for the SNCF? Your earnings target for 2010 is positive he questioned?

We can definitely quantify the cost of the conflict in mid-November, but it should be around 10 million euros a day of strike. It is too early to discuss what our results in 2010, already affected by the strike of two weeks of spring, but it is certain that our leeway for 2011 will be reduced accordingly. However, what we can say today is that this conflict has been devastating for freight, not only for the station but for the thirteen operators of this profession in France. For seventeen days of strike, between one third and half of the freight trains could only travel.Switching stations remained closed, preventing delivery of factories, warehouses … The consequence is that the rail has lost the confidence of shippers, customers. It's alarming. If rail freight is not reliable, we can not achieve the goal of transferring more transport from road to rail.

And passenger side …

The strike followed a long and strong among train crews, was fireproof minimum service. And the station has won: the minimum service is also "renewable"! The right to strike was respected and the right to transport was provided. We managed, and customer surveys we prove to be present alongside the passengers and many of the administrative staff is down at the station during this period for this purpose. We have made information widely available and reliable every day for the next day.So much so that we have lessons to learn the information and assistance to customers on a daily basis.

Alstom has again criticized Thursday and attacked before different authorities, the contract between Eurostar, 55% owned subsidiary of SNCF, and Siemens for the supply of high-speed trains. Cecontrat should it be maintained?

I understood that both French and British governments have seized the issue of safety in the tunnel for trains new generation proposed by the manufacturers, that is to say, distributed power. Let them work!

The formation of 'Team France's nuclear ", defended by the Elysée, could take a new feat. Indeed, GDF Suezet Areva have resumed discussions for a partnership in nuclear power, Les Echos reported on Tuesday.

The agreement would focus on the development of medium-power reactor Atmea GDF Suez and also link to both the French group Areva nuclear and Mitsubishi of Japan, the economic daily said.

Such a perspective of association is not new. The two groups had signed a memorandum of agreement last January on an alliance between GDF Suez and Areva in the atom civilian. But tensions between Areva and EDF had put a spoke in the wheels of this partnership.The electrician saw lights from either side of a very dim view of the combination of these two jewels of the French energy industry, which could call into question his role as team leader of the French nuclear.

But the discussions have, this time, more chance of success. On the one hand, both groups have reviewed their ambitions down and they associate the Japanese Mitsubishi group, says Les Echos. On the other hand, the report Roussely and clearly stated will of the government to strengthen the French nuclear industry are all hallmarks of success of this partnership.

Furthermore, GDF Suez has made clear its interest in the reactor Atmea. And with the partnership group Mestrallet participate directly in the project development.

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This is no time for confrontation between the executive and the banks. The atmosphere was very relaxed even on Friday morning at Bercy, in the presentation by the Minister of Economy of an assessment of the credit situation in France. Accompanied by the Governor of the Banque de France, Christian Noyer, and the new Vice-President of the French Banking Federation, the CEO of Societe Generale, Frederic Oudéa Christine Lagarde welcomed the rebound in bank financing. "We just make a point with companies. The commitments were made, she said. Banks have played the game "

The rules of the game in question had been established early March.After a very difficult 2009, the banks had agreed to pay loans to micro and small enterprises to 96 billion euros in 2010, to increase their stock of 3% in one year, and reduce delays response to business demands paydayloans. According Bercy, the mission is accomplished. Overall, credit to the economy (businesses and households) rose 3.2% in France to reach 1 791 billion euros in assets, against a growth of 1.2% for the average euro area. "The distribution of credit in France is much more dynamic than in the entire industrialized world," Christian Noyer supported.

Low margins

The French are less pessimistic. According to the INSEE survey, consumer sentiment improved in September to -35 points. The index continued its slow recovery and has gained 4 points since June, but remains below its long-term. This new publication falls one day after a sawtooth consumption during the summer in France.

In detail, the French are more confident in the improvement of living standards in general (+2 points) on the evolution of their personal financial situation (+1 point). They are also more likely to agree that it is the right time to make major purchases (+4 points) paydayloans.

Fears of unemployment continue to dissipate. "After being kept at a very high level since October 2009, the balance of opinion has dropped 24 points in two months," recalls the INSEE, which provides that the balance of opinion remains above its average long term.

While households believe that inflation increases (+4 points), they are more likely to judge it appropriate to save (+4 points). "Households feel that their ability to save in the months ahead improved (2 points compared to July), also states INSEE.

Discontent grew visibly among pharmacists, already on strike for two guards and a half months. Tired of not seeing further their claims for their increasing financial difficulties with the government, two unions broke with the usual retention of the profession and organizing awareness campaigns.

The National Union of pharmacies in France, third union of the profession, and on Tuesday called for a "dead day". For this symbolic action, the green crosses will be extinguished and staff are invited to wear black gowns to attract the attention of patients on the "programmed death of local pharmacies," said Fred Lawrence, vice president of organization. Patients will still continue to buy their drugs.On 11 October, will be the second union of the profession, the Trade Union pharmacists, who will organize in Paris an action punch. "In ten years of existence, is the first time that our profession is launching a protest," said Gilles Bonnefond, deputy president of the USPO, lamenting that negotiations with the government "lying".

Unions have already been received by the Department of Health on September 15 but emerged satisfied from this meeting. "They are aware that the network is experiencing real difficulties, and no progress has been made on the main demands," said Frederick Lawrence, who also regrets that the next meeting is scheduled for 25 October. "The draft budget law for Social Security in 2011 will already be under consideration.Rather not move. "

A two-week closure

The financial difficulties of pharmacists raise a growing concern within the profession. Trade unions estimate that close to two pharmacies each week. Last year, "111 pharmacies were placed in safeguard proceedings, in receivership or liquidation, on a network of 22,500 pharmacies. Is small compared to other types of businesses but it's never before seen in our profession. "Confided Philippe Gaertner, president of the FSPF (majority), Le Figaro in August.

To remedy this situation, the unions want to change the system of margins decreasing, which has remained unchanged over the past decade: over the box of medicine is expensive, the higher the share granted to a pharmacist is low. However, sales volumes and prices for most cereals have fallen.However, unions do not agree on how to reform the system.

The FSPF UNPF and want to reduce the regressivity, while the USPO would rather increase the margin of cheaper drugs and put an end to large packages, which is to deliver the chronically ill a box with enough medication for three months instead of having them come back every month.This second solution would have the advantage of avoiding a waste – the boxes are never completely consumed and ensure proper monitoring of treatment by the patient, but the drawback would have to pay it more often 50 cents franchise per box.

The unions would also reach an agreement on the fee envisaged tasks other than selling drugs – monitoring of some chronic diseases, tips for "straightforward" cases do not require medical attention – as HPST law, passed in 2009 , offers this possibility.

While the strong yen's strength is in addition to concerns over the economic outlook for the United States, the meeting promises to be eventful in the Paris Bourse. After the profit taking which had plagued the Asian and American markets, the CAC 40 fell sharply changing from 1.49% to 3435 points.

As for companies, an impressive set of interim results announcements is scheduled on Tuesday.

Carrefour and Ipsen does not convince the financial markets

Shortly after the opening of the Paris Bourse, no CAC 40 company to remain constant rise. Among the largest declines in the place was cyclical stocks. First, the bank stocks. Societe Generale lost 2.20% and 39.30 euros, Dexia was down 2.17% to 3.25 euros, BNP Paribas gives up 1.98% to 48.15 euros and Credit Agricole shows a net decline of 1.82% 10 euros.

Then, the values automobiles.Peugeot lost 2.32% to 20.40 euros and Renault yield 1.99% to 31.47 euros.

Carrefour is also on the top of the table, with a decline of 1.69% to 35.50 euros, despite a net profit of 67 million euros against a loss of 48 million last year.

The decline was more limited pourEurazeo, which is ironed into the green with a net profit of 88.5 million euros against a loss of 120.9 million, a year ago. The shares lost 0.62% to 46.70 euros.

Hermes (-0.54% to 146.15 euros) a net profit up 55.2% to 194.6 million euros.

Ipsen (-3.06% to 27.07 euros) publishes an annual turnover up 6.3% to 553.9 million euros and earnings down 23.5% to 75.5 million Euro No faxing payday loan.

Iliad (2.23% to 71.05 euros), parent company of ISP Free and Alice, shows an increase of 138% of its net profit to 171.4 million euros. Finally, the group

Aeroports de Paris (-1.34% to 53.79 euros), manager of platforms Roissy and Orly airports, reported a net profit increase of 8.2% to 137.7 million euros and turnover of 1.3 billion euros (+2.5%).

Havas, Bouygues, Vinci and Eiffage publish after-hours trade.

Statistics expected

The meeting promises to be just as busy on the macroeconomic front. For the eurozone, the unemployment figures for July and inflation for the month of August (11:00).

In France, sales of new homes rose 7.6% in the second quarter over a year, while housing starts rose 0.2% and building permits by 31.4% between May and July 2010 , announced the Department of Ecology. The corporate failures for the month of March and agricultural prices in July will be released by INSEE 12:00.

In Germany, a single indicator of importance: the number of unemployed in August (10:00). In the U.S., house prices (15 hours), economic activity in the Chicago area (to 1545) and consumer confidence in August (16 hours) are also scheduled.

On the currency markets, the euro continued to lose ground against the yen (-0.52% to 106.56 yen) and against the dollar (-0.13% to 1.2649 dollar) to 7.45.

The Spanish economy is indeed recovering from recession. The results of the second quarter, with GDP growth of 0.2%, according to final figures released yesterday, confirmed. This is the second positive quarter after 18 months of recession. A marked improvement in household consumption, especially durable goods, coupled with a slight improvement in business investment boosted the recovery between April and June, also helped by strong exports. The contribution of domestic demand growth rose from -2.8% to -0.5%.

But the horizon may darken in the coming months. "We expected a good performance of consumption with purchases made ahead before stopping the car scrapping and entry into force of up 2 points from VAT, says Jesus Castillo, Natixis.In addition, new restrictive measures and labor market will always influence the damaged second half. "

Social unrest