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.

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.

Stability of producer prices in August

The producer prices of French industry in the domestic market increased by 0.5% in July before stabilizing in August, show figures released Friday by INSEE.

These figures are consistent with the consensus estimate of economists polled by Reuters.

In one year, the index of producer prices on the French market shows an increase of 6.3%.

Prices of petroleum products fell 2.2% in August after a 3.5% increase in July, Insee said.

The food prices have remained stable in August as in July.

"In August, prices of electrical, electronic and software grew by 0.6%, including the prices of components and circuit boards (1.0%), driven by commodity prices," says INSEE .

Prices of industrial products for foreign markets, unchanged in July, fell 0.3% in August.

For all markets, prices of industry production was down 0.1% in August after 0.3% the previous month.

Nordea will eliminate 2,000 jobs

Nordea, the leading bank in Sweden, will drop 2,000 jobs over the next two years to boost its profitability, the new global banking regulations pushing costs up.

The bank, which will separate and nearly 6% of its workforce, has already started negotiations with unions Danish, Finnish, Swedish and Norwegian.

The tightening of banking regulation is a concern for the entire industry, according to the bank, which has 1,400 branches and employs over 34,000 people.

In recent months, almost 50.000 job cuts were announced in the banking sector worldwide, the result of sluggish economic growth, volatile markets and a strengthening of regulations to avoid an episode similar to the 2008 financial crisis.

Your fears about the crisis are justified?

L'Expansion. Com sifts through the five main fears expressed by the French in these troubled times of economic and stock market crisis. A passerby looks at stock prices in Tokyo in March 2011. My bank can go bankrupt?

While banks face their worst tumble since the stock market subprime-Societe Generale to mention that it has lost over 45% in one month, investors began to fear for their savings. There are less than three months, however, French banks passed with flying colors the European stress tests, and announced in the wake of the results quite satisfactory, despite the provisions made after the support plan for Greece. Must we fear for the health of our banks? In a sense yes. They are highly exposed to sovereign risk, and would be the first undermined if the global economy would come back into recession.From there that they put the key under the door, there is not one that should not be crossed. If there's one thing the government learned from the 2008 crisis is that in no circumstances be allowed a systemic bank to fail. Another scenario is not excluded by cons: faced with the fall of their capital, some banks suddenly become very easy OPAbles, large could then use the crisis to swallow small …

My savings are threatened?

Almost all the French have a livret A and 62% have life insurance. Suffice to say that fears about saving people's minds occupied. The crisis that has engulfed stock markets since July, however, has no effect for now. She would only if one or more banks, unable to cash losses, went bankrupt.And even then, the Deposit Guarantee Fund (FGD) warrants to the tune of 100,000 euros per customer cash, that is to say money in current accounts and savings. It also covers securities-stocks and bonds, shares, mutual fund units to a maximum of 70,000 euros. Life insurance is a guarantee fund of the insured, which compensates each trustee to the tune of 70,000 euros. Your savings are safe.

Will I lose my job?

In the short term, but if the stock market crisis becomes a crisis in the real economy, it is a possibility. During the last economic crisis in 2008 and 2009, French companies have destroyed more than 350,000 payroll jobs, a record. However, it would have been welcome."French companies have taken on their margins up to prevent the dismissal, favoring the reduction of their payroll via the removal of precarious (temporary, fixed term contract)," says the expansion. Com Marion Cochard, an economist at the OFCE. That is why today they prefer to restore their margins rather than hiring. This explains why the unemployment rate does not fall significantly in the Hexagon. With this new crisis, firms may once again to postpone their investment projects, therefore hiring. This does not mean that they will terminate. Unless economic activity is a serious flu, and France plunged back into recession.In this case, employees of companies most vulnerable to global conditions (the automotive and manufacturing industry in particular) could face new social plans.

My taxes will increase?

Despite the mantra of Nicolas Sarkozy – there will be no general increase in taxes – reducing the public deficit tricolor requires the government to reach nearly 10 billion euros of additional revenue in 2012. To achieve this, he plans to create a new tax that would hit the richest households. It also plans to cut heavily in tax shelters. That is to raise taxes for households that benefit from these niches. Will be mainly concerned wealthy households, those who realize capital gains and real estate securities, investors in the overseas departments, real estate rental, etc..These tax increases should not affect low-income households and middle classes. Not for now at least. As to bring its public deficit to 3% of GDP in 2013, France can not help but raise taxes (VAT, CSG, etc.).. This course will be announced after the presidential election of 2012.

I can purchase real estate is at risk?

Yes. For three reasons. In 2008, after the collapse of Lehman Brothers, banks have tightened their lending conditions, businesses and individuals alike. Result, many households have had to give up their real estate project. It is too early to say whether the current instability will tighten credit, but given the losses suffered by banks in recent weeks, the probability is high. The other concern is that interest rates rise. Borrowing cost more, which will weigh a little more about the purchasing power of households' housing.Today, the rates of OAT [government bonds whose interest rates are used to set those credits] fall. But if France loses its triple A, or at least turn becomes the target of financial markets, the rates of OAT recover, and with them the credit rates. In addition, the government plans to reduce its deficit to plane several tax loopholes related to real estate in 2012: the tax cut under the Scellier will be reduced while the conditions for granting interest-free loan (PTZ) will be cured. What will weigh on the purchasing power of first-time buyers property.

The world could he really fall into recession?

The specter of a global economic recession haunts the markets. In Europe and the United States, growth has stalled. Even emerging markets are affected by this downturn.

Morgan Stanley estimated in a study released Thursday that the United States and the euro area are "dangerously close to recession". "Even if it is not our base case at this stage, we perceive a real risk of recession" in these two areas – the two largest in the world economy, said the U.S. investment bank. This warning has been a chilling effect on the markets. Facing the specter of another recession, global stock markets were again swept by a wave of panic.

In the euro area, growth has stalled: GDP grew only 0.2% in the second quarter.The two main area economies, Germany and France were particularly disappointed growth was near zero on both sides of the Rhine. Italy and Spain do little better (respectively 0.3% and 0.2%), while Greece and Portugal are in recession. "Growth may be lower than expected, lower than expected," admitted Van Rompuy, the president of EU and future president of the euro area. But we do not anticipate any negative economic growth, recession, "he said. Still, Morgan Stanley lowered its forecast for growth in the eurozone to 1.7% in 2011 (against 2% previously) and a small 0.5% in 2012 (against 1.7%).

30% chance that Europe and the United States falls into recession

The situation is hardly more reassuring to the other side of the Atlantic. U.S. GDP grew by only 1.3% in the second quarter, after only 0.4% earlier this year.The latest published indicators reveal a picture of a gloomy outlook for U.S. economy. The activity and industrial production are lower, inflation weighs on the purchasing power, the housing sector is still in the doldrums and unemployment remains above 9%. In a context of sluggish recovery, the U.S. economy does not actually create enough jobs to reduce unemployment (average 132,000 per month since the beginning of the year when it would take 150,000).

Accordingly, JPMorgan Chase Friday lowered its growth forecast for the United States. The U.S. investment bank estimates that U.S. GDP grew by only 1% in the fourth quarter of 2011 and only 0.5% in the first quarter of 2012. No analyst does, however, a recession (two consecutive quarters of GDP contraction) on one side or the other of the Atlantic at this time."The likelihood that the United States and / or Europe will fall into recession in the coming months is only 30 to 40%," says Patrick Moonen, senior strategist at ING IM. However, this risk is rising sharply, "he adds.

Two factors may tip the balance of advanced economies on the negative side. First, a continuation of the fall market. Transmission of the panic in financial markets on businesses and households could have disastrous effects. This pummel consumer, and especially it would encourage companies to postpone or cancel their investment projects.Or restocking and business investment are still the only engine that could drive growth in Europe and the United States.

Hopes the new U.S. stimulus plan

The second risk is that the austerity widespread in Europe and the United States do not create a vicious circle of negative growth: to reduce debt and deficits, states cut in social spending, investment and support growth (such as scrapping or tax exemptions). Result, households will consume more, business activity slows, then the state recorded less tax revenues and the deficit is widening even more. In Europe, this cycle does seem engaged: when they are threatened with recession, the peripheral countries of the euro area are competing austerity.Spain has voted to sell a new austerity plan intended to save an additional EUR 5 billion within two years. Italy has it announced an austerity plan of 45 billion euros last week. France plans to follow suit Wednesday, August 24 with listings of suppression of new tax loopholes.

The hope may come from the United States. Barack Obama raised the possibility of a new fiscal stimulus to support the economy. The U.S. president will unveil his plan in September, but we already know that it will focus on employment. This would include extending the declines in social contribution rates for employees and businesses, as well as long-term unemployment compensation, to ensure the financing of private projects or tax cuts that affect businesses.The project, which would increase the deficit for Uncle Sam 2.5 percentage points of GDP, would have little effect on growth, according to experts at Natixis. But it will avoid a fiscal tightening de facto linked to the expiry of the recovery plan of 2010, tightening that might prove disastrous for U.S. growth in 2012.

And even if Europe and the United States experience periods of zero or negative growth in the coming months, the world does not mean plunge into recession, as in 2009. Today, 80% of global growth is provided by the emerging countries, China and India in mind. Certainly they will not be spared by the global slowdown in activity, but their good performance should cushion the poor in developed countries. Morgan Stanley still expects global growth of 3.9% in 2011 and 3.8% in 2012.

Nestlé driven by growth in emerging markets

Nestlé has identified its goals Wednesday after unveiling an organic growth than expected in the first half, also marked by strong sales growth in emerging markets.

Despite an environment of rising agricultural commodity prices and the strength of the franc, the agribusiness giant expressed confidence in its ability to achieve its target of organic growth of 5% to 6% – indicating he thought to reach the top of the range – combined with an increase in the margin at constant currencies.

Nestle also announced that it would not launch a new program of share repurchases at this time, after buying 35 billion francs in securities since 2007.

The group intends to maintain its financial flexibility to carry out its expansion strategy in emerging markets while pursuing acquisitions.

Nestlé intends to continue to increase the dividend paid in Swiss francs to shareholders, also stated the CFO.

In the first six months of the year, Nestle achieved a turnover of 41 billion francs (39.3 billion), down 12.9% from the previous year due to changes in scope and impact of foreign exchange.

Sales increased in all regions, including Europe and North America, despite the fall in consumption in developed countries.

PRESSURE FRANC FORT

Organic growth has exceeded expectations, reaching 7.5% while sales in Asia, Oceania and Africa rose 11.5% on strong performance of the Maggi range of products.

Price increases, of 3.8% recorded in the second quarter after rising 1.5% in the first, also contributed to this performance of Nestlé.

Last week, competitors Kraft Foods and Unilever have published better than expected results after having passed on their selling prices high inflation in the prices of agricultural commodities such as coffee, cocoa or milk.

For Danone, which published its half-year end of July, the price increases, however, have negatively impacted volumes in the dairy business.

Nestlé, unlike its major competitors, has also faced pressure from the strong franc has had a major impact in the consolidated accounts.

"The Swiss franc has no significant impact on the underlying performance," however, said Chief Financial Officer Jim Singh, at a conference with analysts.

PROGRESSION OF OPERATING MARGIN

Compression of distribution costs and administrative costs, however, have helped to protect the operating margin which increased by 20 basis points and 40 basis points at constant exchange rates, while many analysts had forecast a loss of profitability .

Net income was 4.7 billion francs, a decline in over a year but slightly above expectations.

The consensus of analysts polled by Reuters had stood at 41 billion francs in revenue and $ 4.6 billion in net income.

At 11:20 GMT, reduced earnings, but still took 0.7% to 47.03 francs, underperforming the European index of food and drink that gained 1.13%.

"The forces were well distributed geographically, but were particularly impressive in Europe and echo the strong results from Unilever last week," noted Alicia Forry and Eddy Hargreaves, analyst at Collins Stewart.

"The fact that Nestlé has not announced share buyback will fuel further rumors of an interest in the activities of Pfizer Nutrition," says Jean-Philippe Bertschy, an analyst at Vontobel.

Nestlé, which has large reserves of cash from the sale of Alcon to Novartis, has acquired particular Prometheus Laboratories, California company that specializes in the diagnosis in gastroenterology and oncology.

In July, he also announced plans to partner with Hsu Fu Chi to grow the confectionery market in China.

The Tokyo Stock Exchange to its lowest level since the post-earthquake

The Tokyo Stock Exchange ended down 3.72% on Friday to fall to its lowest level since the fall quake in March, weighed down by dropping out of Wall Street and growing pessimism about the strength of the economy .

The Nikkei lost 359.30 points to 9299.88, however, but has stabilized around its support to 9300 points, foreign investors have apparently concluded it to lighten their portfolios.

The Topix, wider, has sold its 25.40 points (3.07%) to 800.96 points from sitting below 800 points for the first time since March 17.

Thursday, investors had already massively shifted from world stock markets, focusing on the safest assets at the expense of equity markets that have experienced disastrous performance.

Cooled by a series of disappointing statistics on the state of the U.S. economy, dampened by the risk of extension of the debt crisis in the euro zone in Italy and Spain, the market has also suffered from the force the yen, whose safe-haven status is bad for Japanese exporters.

The Japanese authorities would have intervened on the foreign exchange market Friday to curb the rise of the yen, said on the markets after a brief surge in the dollar in afternoon Tokyo.Around 6:15 GMT, the dollar fell by 0.90% to 78.54 yen.

In an environment of risk aversion, oil and financial values ​​have been particularly penalized. Inpex has unscrewed from 6.82%, while the bank Mitsubishi UFJ Financial Group and Mizuho Financial Group gave up 2.55%, respectively, and 4.72%.

Low growth in sales of commercial vehicles in Europe

Sales of commercial vehicles rose 1.5% in Europe in June, the recovery in this segment particularly breathless cycle compared to previous months.

In the first half, the increase recorded was 13.5%.A total of 165,767 new trucks were registered in June.

The UK and German markets, up, offset the weakness of Spanish and French markets, according to a statement of the European mobile manufacturers (ACEA).

This 1.5% increase compares with an increase of 25.1% year on year in May and 9.5% in April.

Sales of light vehicles, up to 3.5 tons, fell 1.3% in June, while those of heavy goods vehicles over 16 tonnes were up 36.9% over this period, with growth observed in all European markets.

The truck manufacturer Fiat Industrial identified Monday after his goals for 2011 sales more than expected in the second quarter that allowed him to post better than expected results.

Volvo has maintained last week its forecast for sales of heavy vehicles in 2011 while posting a result almost in line with expectations.

Finally, his rival Scania on Thursday reported a sales volume increase.