The Paris Bourse takes a breath
October 14, 2009
The CAC 40 ended down 1.15% to 3801.39 points. Other European stock markets, which had also climbed yesterday, have also declined Tuesday: London lost 1.08%, 1.19% and Frankfurt Eurostoxx 1.21%. The flagship index of the Parisian place, which yesterday reached a new annual high, needed to blow today. The CAC 40 has widened its losses in the wake of U.S. markets, which have opened themselves down, disappointed by the publication of quarterly results from U.S. pharmaceutical group Johnson & Johnson. Group profit was better than analyst expectations, but revenue has however been below expectations.
Regarding statistics, the morale of analysts and investors in Germany fell in October for the first time in three months and against all odds, Tuesday shows the monthly survey of the economic research institute ZEW.The ZEW index came out at 56.0 from 57.7 in September, while economists on average expected a rise to 58.3.
The values of the day
The bank suffered profit taking: Credit Agricole, which is expected to announce shortly the repayment of its loans to the state, has yielded 2.76% to 14.44 euros, Societe Generale 3.28% to 45.94 euros and Natixis 3.03% to 3.94 euros. BNP Paribas took revenge 0.50% to 54.16 euros. The subscription period for its capital increase ends Tuesday.
Belgium has decided to extend until 2025, three nuclear reactors, the oldest in the country. Thus, the nuclear electricity generators, including Electrabel, a Belgian subsidiary of French GDF Suez (-1.30%) pay between 215 and 245 million per year to the Belgian state between 2010 and 2014.
The mutual bank BPCE joined BNP Paribas, Societe Generale (-3.28%) and Credit Mutuel.It shall indeed turn to repay state aid by launching a program of deeply subordinated notes (TSS) to repay part of the 4 billion it has received.
Reza Kasaizadeh, director of the National Iranian Gas Export, said Monday that Total (-0.66%) was ready to resume work on "Phase 11" of the gas field South Pars, with as a potential partner Chinese company on a project to boost natural gas production in Iran.
As part of the tender for the future TGV to link Jeddah, Mecca and Medina, Saudi Arabia, Alstom, SNCF will be faced with a consortium involving Siemens and Deutsche Bahn with the construction group Saudi Bin Laden Construction Group, says the magazine Challenges. Alstom fell by 1.40%.
The morale of analysts and investors in Germany fell in October for the first time in three months and against all odds, Tuesday shows the monthly survey of the economic research institute ZEW. The ZEW index came out at 56.0 from 57.7 in September, while economists on average expected a rise to 58.3.
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