Lafarge has mastered its debt in 2011, new sales in 2012

Lafarge announced Friday a 14% reduction in its net debt in 2011, thanks to its output activity plaster, and its intention to continue its asset sales in 2012 in the As part of its debt reduction plan.

The title of the world's leading cement and displays the largest increase in the CAC 40 and affects its highest level in seven months, the market welcoming the results better than expected progress in terms deleveraging as investors feared that the group is forced to undertake a capital increase.

Around 10:25, the title, which lost more than 42% in 2011, accounts 6.13% to 33.780 euros, with nearly two million shares, representing already 140% of average daily volume the past three months. The European sector index ahead of his side of 1.7%.

Since the beginning of the year, took the title over 25%, after falling about 42% throughout 2011.

"The internal levers (limitation of dividend, cost reduction) and exogenous (relative relaxation of the funding offer and gradual reversal of trend in the U.S.) reduce the risk of increased capital, "said CM-CIC Securities, which also notes that the results fell less than expected.

Lafarge, which announced earlier this month 460 job cuts as part of an operational reorganization by business to simplify its structure, reduced last year its net debt to 11.97 billion euros, a decrease of approximately two billion over the year as expected. 

"The group's net debt will continue to decline in 2012 through the implementation of actions to maximize our operational cash flow," said Bruno Lafont, CEO of Lafarge, said in a statement ;.

When asked during a teleconference on a target to reduce debt, Bruno Lafont said simply: What can be said is that the debt will be significantly reduced in 2012. "

1 UP TO 4% OF THE MARKET IN 2012

……. . The group's debt, inherited largely from the acquisition of Orascom in 2008, earned him to be downgraded in the "junk" by rating agencies Standard & Poor's and Moody's last year. 

As part of its debt, the group seeks one billion euros in new divestitures in 2012, after 2.2 billion in 2011. It also has limited this year to 800 million euros investment, against 1.2 billion in 2011, achieving in 2012 the bulk – 400 million – 500 million euros of e ; economies already announced and halving the dividend to 0.50 euro per share.

Lafarge also announced in 2011 the closure of its plant Frangey (Yonne), the smallest cement group in France which he pledged to reclassify 75 employees, and the closure of a cement plant in Kansas (USA).

In 2011, the group's turnover increased by 3% to 15.28 billion euros, while net income, group share, fell 28% to 593 million euros, hit by an exceptional charge for impairment of 285 million euros related to the situation in Greece. 

Lafarge plans in 2012 a growth of 1 to 4% of the markets where it operates, especially now the cement (65% of sales) and concrete and aggregates ( 34%).

The output in Europe and Asia-Pacific – including Australia – activity has also strengthened plaster mathematically the group's presence in emerging markets, where growth should still be higher than in mature markets.

The U.S. market should indeed be stable this year and that of Western Europe down 5 to 8%, Spain and Greece in mind.

New economies now account for 57% of turnover, against 52% in 2010 and 32% in 2005.

European shares open down, the file weighs Greek

European shares start down sharply Thursday and the euro is at its lowest levels of the past three weeks, European leaders considering to postpone the bailout of Greece, to me then ; me that Athens has agreed to meet the requirements of its funders.

"It seems that the market has entered into reflective mode after strong increases in risk assets, investors re-evaluating the risk / return and revising their strategies," said Chris Weston, institutional trader at IG Markets in Melbourne.

The lowering by Moody's outlook on the credit ratings of 17 major global banks and financial institutions in Europe weighs 114 financial stocks. 

A flurry of quarterly results, particularly in France, leads the market.

The Paris Bourse lost 0.92% to 3,359.32 points in early trade, while the pan-European index Stoxx 50 was down 1.38%.

The German DAX index yields 1.47% and the FTSE drops 1% in London.

The financial and commodities again lead the correction. The banking index lost 2.1%, biggest drop sector in Europe, with auto index, which fell by 1.6%.

In Paris, Societe Generale lost 3.3% after reporting a net profit fall 88% in fourth quarter 2011, due to greater losses than expected in investment banking and financing.

Axa also down, by 3%, after publishing 2011 results slightly below analysts' expectations.

PPR also gives 3%, after announcing a sharp increase in its annual results, driven by the brilliant performances of its luxury brands.

Technip wins 1.9% after announcing a record net profit in 2011, up 21.5%, albeit with a slowdown expected margins in 2012. 

Capgemini (4%) reported a turnover of 9.69 billion euros in 2011 and an operating margin of 7.4% in 2011. The group plans for 2012 organic growth limited to its turnover and operating margin up.

Renault takes 2.2% more confident after having shown that Peugeot (-2.8%), despite a still competitive in Europe.

Investors also expect the auctions of sovereign debt to France and Spain, and a series of U.S. data in the afternoon with weekly jobless claims, housing starts and the producer price.

Asia continues to draw clear of global economic growth, but may be affected by a worsening crisis in the euro area because of its trade and investment links with Europe, said Saturday the director of the International Monetary Fund, Christine Lagarde.

The latter was speaking at a press conference after his meeting with Japanese Minister of Finance, Jun Azumi.

Former French Minister of Economy has called for strengthening international cooperation and a determined political action in order to ensure a strong, sustainable and balanced.

"(…) We discussed the consequences of the crisis in the euro area, and that it would have for the rest of the world, especially Asia, if it gets worse again."

"In current circumstances, no country can be immune, regardless of its development, its level of emergence or advancement," she warned.

Before arriving in Tokyo, Christine Lagarde visited Moscow and Beijing, hoping to convince Russia and China to invest part of their huge foreign exchange reserves in the bailout funds in the euro area .

The large emerging group of BRICS (Brazil, Russia, India, China, South Africa) are reluctant to invest directly in the European Financial Stability Fund (EFSF), and prefer to help Europe through contributions to the IMF.

Increase in grants, including Milan slight easing of interest rates in the long run Italian … Silvio Berlusconi's announcement he will leave soon to relieve the financial markets. The Italian prime minister Silvio Berlusconi

The markets applauded Wednesday morning the next departure of Italian Prime Minister Silvio Berlusconi, whose ability to recover the finances of his country were strongly questioned by investors. So much so that the pressure on interest rates threatened to kill Italian Italy asphyxiation.

In the wake of the Asian stock market, the European equity markets have in turn opened up. Italian interest rates at 10 years have slightly relaxed the bond market and oil prices climbed. The euro, however, was stable.

Paris and London and took a little over 0.8% at the opening.

"The risk appetite increases, investors favor cyclical stocks at the expense of defensive background of relief related to the resignation of Berlusconi," he told Dow Jones Newswires Justin Rooney, head of sales at CBA in Sydney.

The Italian 10-year rate is slightly relaxed: they amounted to 6.65% Wednesday morning in Asia, after reaching a day high of 6.77% in Europe. Before the announcement of the forthcoming resignation of the head of the Italian government, the 10-year rate had risen to 6.77%, a level unprecedented since the inception of the euro, slightly more than the previous record which dated from the morning same (6.73%).

Sanctioned markets and Italy for its policy and had considered lax in their sights the prime minister Silvio Berlusconi, seen as unable to apply the meusres rigor demanded by the European Union.

Safran and Thales close to agreement on two joint ventures

Safran and Thales are close to an agreement in principle on the creation of two joint ventures, one in optronics and the other in inertial navigation, officials said Friday a source close to the matter, confirming a report of daily Les Echos.

The two manufacturers for the aerospace, defense and security in May had announced the resumption of talks suspended in mid-2010, under pressure from the state, their common shareholder that seeks to reduce duplication in the sector defense budget cuts in full.

"Thales and Safran are close to an agreement in principle, but it is not the final agreement," the source said, adding that the joint venture would be headed by the Thales optronics and that in the inertial navigation by Safran.

The Dow Jones gained 0.07% Nasdaq 0.86% yield

Wall Street ended Tuesday in a dispersed a volatile session, as investors await the outcome of a two-day meeting Tuesday and Wednesday, the Monetary Policy Committee (FOMC) of the Federal Reserve.

The Dow Jones Industrial 30 closed up 0.07% or 10.65 points to 11,408.66 points.

The S & P-500, wider, has lost 2 points, or 0.17% to 1202.09 points.

The Nasdaq Composite fell on its side of 22.59 points (-0.86%) to 2590.24 points.

Faced with strong pressure on financial markets and fears of a relapse of the economy in recession, the Federal Reserve prepares to influence long rates to support economic activity, an action similar to that conducted in the years 60 and then christened "Operation Twist".

With an eye on the sinking of the crisis of sovereign debt in Europe and another on an unemployment rate fails to fall below 9% in the U.S., the Fed should gradually change the composition of its balance sheet to increase the share of long-term securities.

Some traders, however, warn that the rise could be short term, investors may be tempted to take profits after Wednesday's strong performance last week.

The International Monetary Fund (IMF) has also reduced its growth forecast for the United States in 2011 to 1.5% and 1.8% in 2012 against 2.5% and 2.7% respectively, projected in June.

The IMF, Europe and the United States may plunge into recession next year, said the International Monetary Fund lowered its forecast for global growth to 4.0% this year and in 2012, against 4, 3% for 2011 and 4.5% for 2012 projected three months ago.

The housing starts have also declined more than expected in August, falling 5% to a seasonally adjusted pace of 571,000 units, according to the Commerce Department (consensus: 590,000 units).

Values, the way Google Inc. has closed almost in equilibrium after adding Visa (3.12%) to the list of contributors to its proposed electronic wallet for mobile under an agreement that will allow customers Visa to conduct transactions from their mobile phones smartphones.

Do you live better or worse than before?

According to a survey, three out of four Fançais observe a decline in their standard of living. And you? The basket of essential goods for households with small budgets

Three in four French people think life worse than before, a decision that had never reached such a level for twenty years, according to a survey by TNS Sofres for the association of mayors of major cities in France.

To the question "Did you feel that in recent years people like you live better or worse than before," 75% of respondents answered "less". This feeling is a "historic high in the evolution of the personal situation of the French" in the TNS Sofres survey, conducted since 1981, said the institute.

It manifests itself particularly in the 25-49 age group (81%) and among the employees (87%) and workers (82%).Only 14% say their side "better life", while 10% see no change (1% undecided).

With an unemployment rate of 9.6% according to INSEE, and generally 3.3 million people, who are not working but want to work in France, the fear of becoming unemployed grows in the opinion, according this investigation. Two out of three French (66%) fear of "risks of unemployment", for themselves or someone in their household. A result in increase of 4 points from last year and 16 points since 1988, said the Sofres.

And you, your standard of living has deteriorated there? How do you explain it? do you fear unemployment? Give us your opinion in the comments.

European shares fall, Paris underwent the greatest decline

European shares fell again Monday, and Paris more than others, banking stocks have sealed the evidence against the backdrop of threats of deterioration of the note of the three major French banks by Moody's.

Sign of the growing concern of the markets on the ability of European leaders to provide credible answers to the crisis of sovereign debt, the euro, which had hitherto resisted rather, fell to a low of six months to a , 34949 dollar at the meeting.

It was trading around 1.36544 in late afternoon, the euro was hurt by the statements of German officials who have openly discussed the case of an outflow of Greece in the euro area, two days after the announcement of the resignation of sensational Jürgen Stark, chief economist at the European Central Bank (ECB), hostile to the policy of bond buyback of fragile states

The CAC 40 index, which opened a bearish gap of 75 points (difference between the lowest of the previous session and the highest of the day 2.967/2.892) closed down 4.03% at 2854.81 points, but above its lowest Session (2820.76) hit after the announcement of an explosion on the Marcoule nuclear site in the Gard.The index fell 3.6% Friday.

Analysts Graphics Day by Day, the next intermediate support of the CAC is around 2785 points, which correspond to the projection of the decline in the first week of September. They felt then, the major support is around 2720 points, the low point and closing meeting of March 30, 2009.

NO RESPITE TO THE HORIZON

London has sold 1.63% 2.27% Frankfurt and Milan 3.89%.The pan-European Euro Stoxx 50 index fell 3.79%.

Nothing on the horizon that promises a respite as the economic slowdown casts doubt on the ability of states to redress public finances.

"The world needs for growth and markets need confidence, and when these two parameters no longer exist, the medium to long term investors desert the risky assets become vulnerable to speculative movements thank you and robots (trading high frequency), explained Christophe Brulé, founder of Entheca Finance.

He said in a note that the CAC 40 was much more upset than the U.S. indices."On August, 62% of the sessions of the CAC 40 saw current amplitude greater than 3% against only 35% for the U.S. market."

"If we return to economic fundamentals (macroeconomic growth and corporate earnings), the horizon was blocked for two months," he added.

In Paris, the three major French banks have accused the largest declines the CAC and touched lows. BNP Paribas fell by 12.35%, 10.64% of Crédit Agricole.Societe Generale, which has tried to reassure the market by a communication on his situation, dropped 10.75%.

BNP Paribas and SocGen accused too, with UniCredit (-10.91%), the largest declines in the index Stoxx European banking sector (-4.56%) recorded the largest decline in sector indices.

"The expectations of a deterioration of banks by Moody's are not a surprise if we judge by previous decisions of Standard & Poor's has already degraded the French banks.But it's not just a French problem is a wider problem related to the sovereign debt crisis, "said Stefan Isaacs, bond manager at M & G.

In this context, the flight to less risky assets has resulted in the bond market by a substantial amount of the performance of 10-year German Bund fell to a record low of 1.71% to finish at 1.74% against about 1.77% Friday.

Athens has a payment of aid in September

Greece will comply with its program of fiscal austerity and expects to receive its sixth installment of aid as planned in September, said on Monday a spokesman for the Greek government.

This new tranche of aid granted by the European Union and the International Monetary Fund (IMF), should rise to 8 billion euros.

Friday, discussions between the Greek authorities and inspectors of the European Union, the IMF and the ECB have been suspended for ten days, the two sides disagreeing on the reasons and extent of the delay in the Athens reduce its budget deficit.

"We expect to receive the sixth round in September," said Ilias Mosialos reporters.

Athens invokes a recession more severe than expected, while its creditors in turn point to delays in the implementation of reforms such as reducing salaries in the public service, openness to competition and privatization of professions.

Greece is pressed to move forward on these reforms in the next ten days before the return of inspectors, to convince them that the country has made sufficient progress to be able to touch this new tranche of aid, even if it exceeded the objective of reducing its budget deficit to 7.6% this year, against 10.5% in 2010.

"We will put the program in place," said Ilias Mosialos.

Asked about the articles published in local media that Greece would seek to revise the goals of deficit reduction to reflect the impact of the recession, Mosialos Ilias said that discussions on this issue were ongoing.

The government estimates that the recession this year is 5% of GDP against 3.9% according to a recent projection.

"We have not requested a review of the objectives of the debt. We are in ongoing discussions with the Troika regarding the implementation of fiscal policy (…) and the macroeconomic indicators in general," has he said.

What do you think of Angela Merkel?

German Chancellor would be the most powerful woman in the world. A majority of French also make him more confident that Nicolas Sarkozy to resolve the crisis. And you, what do you think? German Chancellor Angela Merkel (Blegrade by August 23, 2011)

German Chancellor Angela Merkel is again this year the most powerful woman in the world, before the U.S. Secretary of State Hillary Clinton and the President of Brazil Dilma Rousseff, according to the annual ranking by Forbes magazine. An award well deserved, it said in the comments inetrnautes expansion. Com.

A recent survey revealed also that the French, overwhelmingly concerned about the impact of the current financial situation, have more confidence in Chancellor Angela Merkel to Nicolas Sarkozy to resolve.What is ironic is that the Germans themselves increasingly skeptical of the capacity of Chancellor to resolve the financial crisis.

And you, what do you think of Angela Merkel? She deserves the title of most powerful woman in the world? What are its qualities or defects? Why make him more confident than Nicolas Sarkozy? Give us your opinion in the comments.