The meeting starts trouble on the Paris Bourse
January 22, 2010
The meeting promises to dull the Paris Stock Exchange on Friday. After closing at -1.7% (3,862 points) yesterday, the CAC 40 index opened on a negative note, following the impetus given this morning by the Asian Awards. The Paris flagship index loses 0.56% to 3840.06 points in early trade. On European markets, the mood was equally grim. In London, the FTSE index lost 0.13% to 5328.25 points. The German Dax index fell by 0.19% to 5735.68 points.
This morning, the Nikkei ended the session sharply down by 2.56%, dragged down in all the places in the region. The day before, Wall Street ended down 2.06% to 10,389.88 points.
The sessions were initially marked by the publication of a set of macroeconomic statistics down in the United States.The number of newly registered unemployed rose unexpectedly (482,000 applications for unemployment benefits) while the rise of manufacturing in the Philadelphia area slowed more than expected in January. But what has come to seal the meetings is the involvement of Barack Obama. U.S. President announced his intention to limit the size and activities of banks by restrictive measures.
Several appointments to monitor macroeconomic
This Friday, the macro-economic indicators, although many might not be sufficient to recover morale. Before the opening, INSEE said that the morale of the industry, which had stalled last month, rose 4 points in January, reaching its highest level (92 points) since September 2008. At 10 hours will be known the composite PMI for January (1st estimate) in the euro area.
At 10:30, the UK will publish the figures for retail sales in December. At 11 hours, they will lift the veil on orders to industry in November. At the same time will be known new orders in industry in November and the quarterly balance of payments in the third quarter (2nd estimate) for the euro area.
At 12 hours, a wave of statistics for the month of January will again be published by INSEE's monthly survey of conditions in the building, the bimonthly survey of conditions in the wholesale and retail business Card Holders .
EDF at the heart of the news
The new boss of EDF, Henri Proglio, has renounced his remuneration as Chairman of the Board of Directors of Veolia Environnement. After the reaction of the political world, that investors in stock exchange is expected.
In the series A400M, EADS would be willing to pay up to 800 milion euros to cover the additional costs. This heralds the Tribune on Friday. A further meeting is scheduled today between EADS and client countries to define the modalities of sharing the additional costs of military transport aircraft
Air France KLM could be loss of 300 million euros in 2009 on its network within Europe, according to Les Echos. In addition, Jean-Claude Filippi, FO union, was elected Thursday secretary general of the central works council (CEC) of Air France and whose operating costs are at the heart of a lively controversy for two weeks.
Kaufman & Broad has presented its 2009 results this morning before market. Its turnover in 2009 amounted to 934.9 million euros (VAT) cons 1 165.1 million euros (VAT) in 2008, down 19.8%.Its net profit stood at EUR -29.8 million, compared to a profit of 8.2 million euros in 2008.
Pierre & Vacances introduced a sales increase of 10.7% to 329.3 million euros in 1st quarter 2009-2010
Biomerieux announced this morning before market that its turnover in 2009 was 1 223 million euros against 1 111 million euros in 2008. It grew by 7.7% at constant currency and perimeter.
Somfy will publish annual results. The group had already announced on Thursday a decline in sales in 2009 on a comparable basis.
Markets will also keep an eye on overseas publications. The U.S. General Electric and Kimberly Clark will present their results for the fourth quarter of 2009.
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