Consumer confidence unchanged in February

The index of consumer confidence in France is almost stable in February compared with the previous month, announced Friday INSEE.

The composite indicator is 82 against 81 in January.

In February, consumer confidence about their personal financial situation went down 2 points, INSEE said.

That their future personal finances rose 2 points, while remaining below its long-term average. Households are also more numerous than in January to consider it advisable to make major purchases (5 points).

Adocia starts on NYSE Euronext under the current IPO

The biotechnology company Adocia began Monday his first day of trading on the NYSE Euronext market a little below its introductory course of 15.88 euros.

Around 9:35, it was trading at 15.62 euros showing a market capitalization of 94.5 million euros.

For Arnaud Guerin, an analyst at brokerage firm Portzamparc, this course may reflect questions on business development and strategy company that specializes in Lyon formulation of therapeutic proteins for the treatment of diabetes and chronic wounds.

He also stresses that it is positioned in a highly competitive market where the laboratory Danish Novo Nordisk, a world leader in diabetes care, has taken a big lead. 

Created seven years ago, is the first introduction Adocia market of 2012. Chaired by Gérard Soula surrounded by his two son, Olivier and Rémi, Adocia recently signed a license agreement and collaboration with the U.S. pharmaceutical group Eli Lilly for the reformulation of its insulin Humalog.

This option for the improvement of existing technology Adocia enrolled in a logic quite different from other biotech companies that offer a technological breakthrough.

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.

Credit Suisse in the red in Q4 2012 begins well

Credit Suisse on Thursday presented the figures below expectations in the fourth quarter of 2011 due to charges, but stressed that the current year had started well.

Credit Suisse posted a net loss of 637 million francs (526 million), while analysts on average expected a profit of 430 million.

The second Swiss banking group has suffered the impact of 981 million francs in costs of realignment from the abandonment of certain activities and accelerated reduction for 35 billion francs, of risk-weighted assets under the new Basel III regulations.

This results in a loss before taxes of CHF 1.3 billion in investment banking. However, Credit Suisse said ahead of its active reduction target of 80 billion francs to be reached nine months earlier, namely at the end of first quarter 2012.

The bank privéea his side recorded a pretax profit of 467 million and net inflows of 7.6 billion.

"Our performance in the fourth quarter of 2011 was disappointing," admitted the chief executive Brady Dougan said in a statement. "It reflects both the adverse market conditions during the period under review the impact of measures taken to quickly adapt our activities to changing regulatory requirements and market. "

Accordingly, Credit Suisse said the variable pay plan for 2011 decreased by 41% and 57% for board members, who will also receive any remuneration variable cash.

The Board of Directors propose a dividend of 0.75 francs per share for the past year, against 1.30 francs a year earlier. Markets expected 0.67 franc.

"We are mindful that the market and economic environment remains uncertain, but are encouraged by the good start of our business in 2012, since the beginning of the year , a return on equity adjusted in line with our target of 15%, "said Brady Dougan.

DISAPPOINTED 'OVER THE LINE "

Credit Suisse's performance contrasts with that of its competitor Helvetic UBS announced Tuesday a net profit of 393 million francs in the fourth quarter but said he was very cautious for the first quarter . 

Deutsche Bank surprised the markets last week with a loss before tax of 351 million euros in the fourth quarter, its investment bank was hurt by the crisis of sovereign debt in the eurozone.

Action Credit Suisse declined 1.9% to 24.75 francs at 9:50 GMT, while the European index of banking stocks climbed 1.29%. UBS earns 0.46%.

Analysts point out the weakness of the last quarter, the image of the Zurich Cantonal Bank and the bank Notenstein that evoke a disappointment "over the line."

Dirk Becker, Kepler Capital Markets, talks about the gross margin fell to 109 basis points in asset management in the fourth quarter. "Either the lowest level for many years," he laments.

CFO David Mathers, during a conference call, said that there were no developments in the late fourth quarter that need to modify the provisions for offshore U.S., a dispute between the banking group to the tax authorities of the United States.

In the third quarter, Credit Suisse had recorded 258 million francs as part of the U.S. investigation into these activities.

Earlier this week, Julius Baer said he expected a fine in this matter.

Wall Street ended up 1.23%, boosted by employment

Wall Street closed sharply higher Friday, boosted by the employment statistics, which in particular led the Nasdaq Composite to register a peak of 11.

The Dow Jones for his part tu a high of four years, while a large number of stocks from the peaks have registered a year.

The Dow Jones took 156.82 points (1.23%) to 12,862.23 points. The S & P 500 gained 19.36 points (1.46%) to 1,344.90 points. The Nasdaq Composite Index gained 45.98 points (1.61%) to 2,905.66 points. On the whole week, the Dow gained 1.6%, the S & P 500 2.2% and Nasdaq 3.2%.

The S & P 600 small caps for his part closed Friday's session at a record high of 463.56 points, representing a gain of 2.14%.

The upturn in the U.S. employment continued in January, with the highest rate of job creation observed in nine months, and the unemployment rate fell to , its lowest level in nearly three years, reflecting the impact of growth in the fourth quarter of 2011 at the beginning of new year.

Other statistics published in the day, the industrial orders and the ISM services. Orders to U.S. industry rose for the second consecutive month in December, driven by increased business investment.

The growth rate of services sector in the United States has clearly accelerated in January, while economists had estimated that it would evolve in the same tempo as December , according to figures released Friday by the Institute of Supply Management (ISM).

"This is confirmation of a slow but significant statistics US", says Stephen Wood (Russell Investments), noting that risks remain, however, as the debt crisis in Europe.

The financial sector gained 2.68% and 1.71% of industrial

Values, and therefore against the trend, Estee Lauder loses 2.33%. The American cosmetics group, citing adverse currency effects and increased its advertising spending, announced quarterly forecasts well below expectations.

More than halfway through the "season" results, 60% of the S & P 500 have reported results above consensus, according to Thomson Reuters I / B / E / S.

Like the European stock markets, Wall Street soared Monday, gaining more than 4% in response to the coordinated action announced by the major central banks to maintain liquidity in markets shaken by the debt crisis, a measure that removes the specter of a global recession.

The Dow Jones industrials gained 30 4.24% or 490.05 points at 12,045.68. The S & P-500, wider, took 51.77 points, or 4.33% to 1246.96.

People's Bank of China (PBC) also supported the rating, reducing the reserve requirement ratio for the first time in nearly three years to ease tensions in the credit market and to give back up to an economy that knows its lowest growth rate maintained since 2009.

Investors were also reassured by the larger than expected number of jobs created in the U.S. private sector – 206 000 130 000 in November against expected – and one PMI purchasing managers in the Chicago area well above expectations.

Renault said Wednesday it intends to develop in India a new car less expensive than compact Pulse, its latest launch date in the Indian market, but at a price significantly higher than the ultra low cost segment.

In its edition of Wednesday, the Tribune reported that Detourbet Gerard, head of the range low-cost Dacia Renault will take the leadership in January of a joint team to the alliance with Nissan in charge of developing a new vehicle in India for emerging countries.

A spokeswoman for Renault confirmed this information, while stressing that the price of the vehicle would be "significantly higher" in 2500 euros raised by the business daily.With its partner Nissan, the group is now seeking to attract the middle class first in the country by launching products in the mid-range and higher, before proposing then vehicles more attractive prices.

Before the Pulse, scheduled for 2012, Renault has launched this year in India Fluence sedan and 4×4 Koleos.

The proposed ultra low cost car, announced in 2008 by the CEO of Renault-Nissan at a price of 2,500 dollars (1,900 euros), for its part has still not been completed when he initially was to be launched early this year , raising doubts about its viability.

Today, the alliance gives more timing and waits for Bajaj Auto, in charge of development of the car, he presented his platform before deciding whether to give it a more industrial.

Lloyds posted a new quarterly loss Tuesday and warned it may need to extend certain financial targets because of the current economic turbulence.

The bank, 40% owned by the British government for a public bailout granted during the credit crisis of 2008, reported a loss for the period January to September of 3.86 billion pounds (4.5 billion euros), of which 607 million for the third quarter.

The group has suffered from declining margins and funding costs rise and warned that it may not achieve some of its performance targets in the medium term until 2014.

The group, however, maintained its annual target of the margins and a reduction of its losses on bad debts, an announcement appreciated by investors.

The action Lloyds, which has lost more than half its value since the beginning of the year, gained 8.3% to 11:00 GMT.

She recorded the largest increase in the European banking sector index, just ahead of Societe Generale (+7.9%), who resigned Tuesday to pay a dividend to its shareholders for the year 2011 to strengthen its capital without public support.

Lloyds was taken aback investors last week by announcing that its chief executive Antonio Horta-Osorio was suffering from stress and taking time off, leaving a possible vacancy at the top of the first British bank details.

The de-globalization is "reactionary" according to Michel Barnier

European Commissioner Michel Barnier to financial services has denounced the speech "against" the interests "of peasants and workers", held by Arnaud Montebourg. The EU Internal Market Commissioner Michel Barnier (here at a press conference in Brussels on 21 February 2011)

European Commissioner Michel Barnier to financial services Friday sharply criticized the "reactionary discourse" of the de-globalization held in France, saying it was "contrary" to the interests of peasants and workers. "I hear that speech that I found in France (to be) a reactionary discourse on the de-globalization", denounced Mr. Barnier, former French Minister of Agriculture and member of the majority party UMP on LCI television.

"What is it? Is protectionism? The home each and every man for himself? This is contrary to the interests of the workers is contrary to the interests of farmers who need to produce goods and export "he criticized. For the Commissioner, Europe needs a sectoral industrial policy to be "a force of production" and "not just a force of consumption." In France, the PS deputy of Saone-et-Loire, to the surprise came third in the primary Socialist, Arnaud Montebourg, notably because of the "de-globalization" a major focus of the debate politique.d

The U.S. economy created more jobs than expected

The U.S. economy has created far more jobs than expected in September and the new posts of previous months have been revised upwards, according to official statistics released Friday that could mitigate fears of a return to recession.

Last month, 103,000 non-farm jobs were created, according to the Labor Department, while economists on average expected 60,000 creations.

The unemployment rate was unchanged from a month to month to 9.1%, in line with analysts' expectations.

The right numbers in September are based in part on the reintroduction of 45,000 employees of Verizon in the number of jobs created, they were not in August because of a strike.By excluding these employees, 58,000 new jobs were created.

Statistics disappointing August, which reported zero job creation, for its part has been revised to bring out 57,000 new jobs. That of July was also revised upward to 127,000 against 85,000 previously.

Overall, the private sector has created 137,000 jobs, 100,000 against and 42,000 expected in August. The public sector has eliminated 34,000 jobs to him.

RELIEF

These employment figures are one more sign that the U.S. economy could avoid falling into recession despite a sluggish summer.Last week, the growth of U.S. gross domestic product in the second quarter was revised up to 1.3% against 1.0% in the first estimate.

Recent indicators of the manufacturing sector, business spending and auto sales leave now think the economy is doing better than expected third quarter.

Hourly wages have also increased by 4 cents in September after falling all the previous month.They then recorded their first decline since October 2009, pushing the savings to its lowest level for over a year and a half.

"The increase in job creation and revisions of the statistics is comforting and exciting to the market," said John Kilduff, partner of Capital hedge fund in New York Again.

"But it seems premature to use these numbers to say, regarding the economy in general, we are out of the woods," he tempers.

In September, the U.S. economy has eliminated 13,000 manufacturing jobs, after having destroyed in August 4000.

Some economists fear that the debt crisis will derail the U.S. recovery, not a fear expressed Thursday by U.S. Treasury Secretary Timothy Geithner.

"We're still not at a job that can bring down the unemployment rate, which remains a key concern important to the economy," warns Ellen Zentner, economist at Nomura Securities in New York.

The economy must grow by at least 2.5% per year and create jobs 150.00 per month to prevent the unemployment rate to rise.