The Paris markets deep into red
April 28, 2010
In continuation of Tuesday's session that saw the CAC 40 index registered its biggest drop at the closing for over a year the Parisian markets should continue to be more cautious as this Wednesday. Around 11:00, the CAC 40 shows a decrease of 2.23% to 3766.84 points. The FTSE-100 fell by 0.92% to 5552.01 points, as the DAX 30 index highlights of the Frankfurt Stock Exchange, which yields 1.56% to 6063.27 points.
The euro continued to exchange at its lowest level in a year against the greenback on Wednesday in Tokyo, under pressure from concerns over public deficits in Europe, including Greece and Portugal. The euro was at 1.3167 dollars, its lowest level since April 29, 2009.
The Greek rate exceeded 10 years, Wednesday, the threshold of 10% to 10.131% exactly, shortly after the opening of the Paris Bourse.
Bank stocks back into red
Since Tuesday, the bank stocks are among the most severe declines the CAC 40. Dexia lost 3.37% to 4.10 euros, Cr?dit Agricole 2.88% to 11.11 coward euros, SocGen drops 1.57% to 40.40 euros and BNP Paribas was down 0.95% at 50 , 25 euros. Off-CAC 40, Natixis yields 1.77% to 3.88 euros. In addition, Natixis Private Equity has changed its CEO, while Natixis has closed the sale of its subsidiary equity firm AXA Private Equity.
The car values are also suffering: Renault, despite an increase of 28.4% of its turnover in the first quarter, losing 2.11% to 35.44 euros. Natixis analysts remain to "strengthen" their notes on Renault and target price of 42-46 euros.Peugeot yields 1.62% to 22.53 euros.
Other companies released Tuesday, Unibail-Rodamco (-0.96% to 144.25 euros) – sales were down 0.9% in first quarter 2010 – Seb (0.37% to 54.95 euros) – up 10.9% of its sales at constant exchange rates – and CFAO, a subsidiary of PPR – lower turnover of 2.5%.
On Wednesday, Rhodia (-1.70% to 17.60 euros) has posted earnings of 69 million euros for the first quarter of 2010 and a turnover up 23% to 1.176 billion euros Fax No. payday advance.
Dassault Aviation (+1.18% to 599 euros) posted revenues up 50% to 821.4 million euros in the first quarter of 2010.
The reinsurer Scor (-1% to 17.76 euros) divided by three to 36 million euro net profit in the first quarter of 2010.
Followed after-hours trade turnover of the first quarter of PPR (+0.24% to 105.65 euros).
Largest increase in the CAC 40, Total, which gained 9.30, to 0.87% 41.92 euros.The oil group announced on Wednesday, joining the capital of Coskata, which is developing a platform technology for producing biofuels and bio products chemistry.
Air France-KLM (-0.50% to 11.94 euros): The return to Madrid Stock Exchange, Thursday, the company will report Amadaeus travel reservations at best 210 million euros to Air France, which holds 23 1% of the capital, according to the daily La Tribune.
Alstom (-0.22% to 45.05 euros) is part of a consortium that participates in the tender for the construction of a subway in Panama, a project of 1.5 billion dollars, told Reuters the country's ambassador to Paris.
Vivendi (-0.57% to 19.89 euros) announced Tuesday that it held 99.17% stake in Brazilian operator GVT at the end of the auction process conducted as part of its bid .
OL Group (-8.89% to 8.20 euros): Olympique Lyonnais football club owned by OL Groupe, was eliminated Wednesday night in the semifinals of the Champions League, beaten 3-0 at home by Bayern Munich.
A decision on rates by the Fed
On the macroeconomic front, the news will be especially marked in France by publishing the number of corporate failures in November 2009 by the INSEE.
Overseas, investors monitor stocks around 16:30 weekly crude oil and the statement that the Fed will issue to 8:15 p.m. on interest rates. In all likelihood, it should announce it will keep.
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