International & World Report

Further escalation, that night, in the war between the elected officials for several months Republicans and Democrats in the U.S. to find a solution to the need to reduce the U.S. budget deficit. Having failed to reach an agreement with Barack Obama, the chairman of the House of Representatives, Republican John Boehner, Friday slammed the door to negotiations with the president.

At issue this time, as the Republican's will vote Democratic president to make an additional $ 400 billion of tax increases. A demand unacceptable, according to Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue.This Saturday, the threat of a default by August 2 of the world's largest economy has thus further increased.

Of default formally excluded

The President has convened several political leaders to an emergency meeting Saturday afternoon at the White House to try yet again to reach compromise. Both sides say they are confident of raising the debt ceiling (14.294 billion U.S. dollars), reached on May 16, but whether common ground had been reached on the amount of the uncapping. Barack Obama and John Boehner have ruled out a formal non-payment within 10 days.

But the talks still face the question of the amount of budget cuts and debt reduction.Republican side, John Boehner said that after the new clash, he preferred to look to the leaders of the Senate to find a "reasonable" on these issues. Which casts a big doubt about the outcome of negotiations Saturday with the president, which is called Boehner. Democratic side, Barack Obama is prepared to assume full political responsibility to raise the debt ceiling in order to unlock at least for a time, the status quo. "If that's all Congress can do, I will sign an increase in the ceiling to take us to 2013," the president said.

Obama recalled that he had proposed to the Republican's $ 1.65 trillion spending cuts various offers an "extraordinarily fair" said the president.But still not enough for John Boehner, who accuses the president's inability to take "tough decisions" on reducing public spending. Boehmer wishes to bring to the 3 trillion budget savings over 10 years.

Time-critical

The time to find common ground is critical. The readiness of Barack Obama to convene a further meeting this Saturday is a sign that the U.S. president does not want to wait until the deadline of August 2 to reach an agreement. "We have more time in front of us," he said.

Recalling that Wall Street opened Monday, the president pointed to the impact on financial markets of such uncertainty. "Americans are outraged" by the inability of Congress to act, he said.This willingness to find a solution is also shared by the Republican camp, in which counsel highlighted the urgency of an agreement by Monday. What then leave both parties ten days to write a non-redundant legislation and get it validated by Congress.

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"Yes, I advocate a federalist vision of Europe," enthused Nicolas Sarkozy on Thursday before his counterparts in the eurozone. The Franco-German proposals for a better European governance are not intended to create a big night in which federal public opinions are not ready. The French initiative on the fact that the Greek debt crisis has revealed the interdependence of European economies. "We have reached a degree of interpenetration as the most federalist of us did not even imagine. The Stability Pact is not enough, "says one senior European official.

The proposals will set aside any supranational option. The proposal to create the office of Union Minister of Finance put forward by Jean-Claude Trichet, the head of the European Central Bank, was clearly rejected by Paris."The idea of ​​the president is to move towards more European integration. However, he does not want a supranational economic government, "said one close adviser. "He believes in a more close monitoring by peers, by the Commission, and also the creation of a European rating agency," it adds.

Among the possible ways, that of a regular meeting of Heads of State in the euro area. Until now, German Chancellor opposed any "institutionalization" of the summit to seventeen for three reasons: not to cut Europe into two hopelessly between those who use the euro and those that have no. Do not give the new speaker a casting vote in the Mediterranean countries (Greece, Portugal, Italy, Spain …) friends of France and are far from being paragons of virtue.And, ultimately, do not support the idea of ​​a Franco-German Executive which is expected to submit the rest of Europe.

A "European Fund"

For this reason, many MEPs protest against the double standards of Paris and Berlin. "The economic governance of the Franco-German dictatorship is not a solution," says MEP (Modem) Sylvie Goulard, who defends the idea of ​​involving the European Parliament to tax policy options. Other tracks include the gradual transformation of European Stabilization Fund into a "European Fund." Finally, many "federalist" believe we should give more resources to the European Commission. "The statements of intent for a greater convergence of economic policies were made in the Lisbon strategy, and it did not help," says Sylvie Goulard yet.

At the Élysée, it places great emphasis on the need to confront the high-level fiscal policy choices, budgetary, wage. "Between 1997 and 2004, the French and the Germans had a policy against it. In France, we opted for 35 hours in Germany, Schroeder was the opposite. It was the model of what not to do when you're in the euro area, "says one close to the head of state.

"After a rigorous regime of five open time of the attack by external growth," warned in March industrialist Vincent Bolloré, chairman and largest shareholder of Havas, on the occasion of the annual results of French communications group. First founding of the strategy of conquest, Havas announced Wednesday a majority stake in Host, "the largest independent creative agency in Australia," said David Jones, appointed four months ago, Havas CEO after chairing the network Havas Worldwide (Euro RSCG and Arnold).The group is already present in Australia through the agency Euro RSCG, Red Agency, Arnold Furnace and Media Contacts.

Founded in 2000 by Anthony Freedman, integrated advertising agency Host has 120 staff and advises clients such as Vodafone, Levi's, Coca-Cola Company and Australian companies BankWest, BT Financial Group and Sydney Water. Havas did not provide the amount of the transaction. David Jones said, however, that Host is "growing with double digit growth in its income for five years." Gross margin for the agency, which will retain its name and its current leaders, is estimated at about $ 30 million. "This acquisition is strategic for Havas, is its CEO. This is the largest independent agency in Australia, a brilliant creative agency several times crowned by lions at Cannes.It is also entirely consistent with our model by placing digital at the heart of everything we do. Over 30% of revenues come from digital Host. Finally, with Host and after the acquisition in late 2010 Porda corporate agency in Hong Kong, we increase further the percentage of our revenue in Asia Pacific. "

750 million cash

This external growth "measured but determined," to borrow the words of Vincent Bolloré, must lead the sixth largest global communications to reach 2.5 billion euros in sales within three years. In 2010, revenue was $ 1.558 billion."We now have a healthy balance sheet with cash of 750 million euros, one billion dollars available for acquisitions while in 2005 Havas posted debts of 750 million euros," says its new CEO.

To refine its strategy, David Jones was held in mid-June sixty major Havas executives in Barcelona. The group aims to strengthen in Asia and Latin America as well as in the digital businesses, with "priority given to social networks and geolocation, which represents the opportunity to major transformation of our industry." In 2010, digital accounted for nearly 20% of its revenues. But unlike its big French rival Publicis, which absorbed Digitas, Razorfish and Rosetta, Havas does not increase the scope of redemptions in the industry."We prefer to focus on budgets and talent at the heart of our agencies, rather than isolating them in silos experts, sometimes paid dearly, insists David Jones. That's what we did in recruiting team or Modernista digital with the acquisition of Socialistic. "Havas should also accelerate the deployment of its" microarray ", Arnold and BETC. The first, born in Boston, is a twenty offices around the world. The second, BETC, created in Paris by Mercedes Erra and Remi Babinet, will remain housed in the Euro RSCG network. After an initial introduction to London, BETC could export its "model of start-up" in the United States, Latin America or Asia.

Courted by the stock exchanges around the world, Chinese private enterprises would they be about to fall into disgrace? After several scandals revealed in recent weeks, rating agencies go up to the plate one after the other. Fitch Ratings yesterday estimated that fraud cases were probably only just begun in the Middle Kingdom.

The U.S. agency has assessed 35 companies listed on the Shanghai and is ready to review its portfolio of Chinese. She considers their standard accounting and trading in Shanghai as many "key indicators of their weakness."

Although the Chinese accounting standards, adopted in 2006, are very close to IFRS (international financial-reporting standards), audit firms have not the confidence of investors, and obviously not the rating agencies which still largely prefer the four major (Ernst & Young, KPMG, PriceWaterhouseCoopers and Deloitte & Touche).The Fitch report said that companies from these large firms "would be more difficult to publish than those fraudulent reports go through domestic companies."

Fitch does not mean to review the scores awarded to different companies observed, adding that they "are already taking into account the context of a Chinese legal environment and an under-developed documentation, practices and specific business low corporate governance practices. "

Nevertheless, this case is the latest blow to Chinese companies. Last week, Moody's, which was hoisted the "red flags" of sixty-one companies that note. Fitch's rival evoked particular the opacity caused by a family shareholding in forty-three of them.

For several weeks, scandals involving Chinese companies listed multiply.Everything was packed in June, with the case Sino-Forest the title of which collapsed in Toronto. Since February, the business of handling accounts or misrepresentation of results had already forced many companies to delist in the U.S..

Loss of confidence

In total, nearly forty companies have shown irregularities, not the United States. The Securities and Exchange Commission (SEC), Constable of U.S. markets, has established a special committee to investigate these Chinese companies.

Hong Kong is no exception.The financial analysis firm Dealogic calculates that Chinese private enterprises were canceled or postponed them of trading, the equivalent of $ 3.8 billion.

Finally, there is a shift among investors who gradually give more confidence in the state, whose sovereign debt is rated A + by Fitch and Aa3 by Moody's, as private companies.

The health of European banks, crucial to the future of the euro zone, is good, has hammered the EBA. This was based on the highly anticipated results of stress tests to measure the strength of credit even if prolonged recession. The supervisor had demanded a hard capital ratio of 5% the EU average was 7.7%. Of 91 institutions screened in 21 countries, eight failed the exam. The eight former "need 2.5 billion euros to build," said ABB.

Like last year, the figure is much lower in the eyes of the challenges faced by European banks, battered by the markets in recent weeks. These data, however, take into account some 60 billion euros to recapitalize by many actors involved European banks since the beginning of the year.Without this, 20 banks have also failed the tests. Above all, 16 facilities succeed narrowly, with a hard capital ratio below 6% which presents itself as the next steps to achieve.

Despite its efforts to restructure its banking sector, Spain realized, like last year, the worst performance: 5 Iberian institutions are recalibrated, including four savings banks, and seven others remain in a tie. Two Greek banks – tested on six – have also failed. Finally, an Austrian completes the list of poor performers.

France is doing well, What are the opportunity to the new Minister of Economy Baroin to praise "the strength of the universal banking model" in French. For its part, Italy, jostled for a week in the markets because of its huge debt, also managed a shot together.Italian banks had greatly strengthened their capital in recent months.

In Portugal, a weak link in the euro area with Ireland and Greece, no banking group is sticky. The Central Bank of Lisbon recalls, however, that the first two private groups in the country, Banco Commercial Português and Banco Espirito Santo proceed in three months to "increases in capital or asset sales."

European Summit on 21

It will take a few days now to say whether this exercise much more ambitious than the 2010 vintage will have served its purpose: to reassure the markets. Time for analysts to compile the exceptional amount of data disclosed by the banking community. In particular, their exposure to sovereign debt will be viewed under the microscope.Even before the publication of its results, check-up was considered inadequate in the trading rooms because it does not test the scenario of a failure of Greece, although its potential impact is partly taken into account.

A fault is the most likely outcome for investors, as European states do not find agreement. The prospect of a summit looming on Thursday for "the financial stability of the euro area and the future financing of the Greek," should restore confidence. Until then, the terms of a second rescue stumbled on participation with the private creditors, as required by Berlin.

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Saturn must be profitable in three years: it is the objective that its new owner, HTM Group, has set. The holding of the family group Mulliez (Paragraph, Kiabi, etc.). Boulanger strengthens its brand with 35 stores in French Media Saturn, a subsidiary of the German Metro, which she bought on June 30 for an undisclosed price.

"Saturn knew generate traffic in its stores with low prices and promotions, but never developed Internet business and has never managed to be profitable," especially in front of supermarkets are on the same niche (26 % market share), explains Layous Bernard, director of purchasing and marketing Boulanger.

"With Saturn, Boulanger changes category. Faced with global suppliers, we will have greater purchasing power and we will be known to the public, "he says.The distributor of multimedia products and services and appliances improves its national coverage with this acquisition, which "saves 3 to 4 years of expansion." Even if Baker is, first, giving up open the store on the outskirts of Saturn provided Avignon and on the other hand, give five other outlets of the brand (Toulon, Le Havre, Mulhouse, Aubergenville , Angers), and a shop in Tours Boulanger to respect the opinion of the Competition Authority on the merger.

No project abroad

The integration of the stores kept Saturn, which carry a turnover of 500 million euros, will allow Boulanger (97 stores) to reach the 2 billion mark in sales in a French market the electrical appliance 22 billion euros, according to Gfk.

"The market has been growing steadily for twenty years, with the exception of 2009," says Francis cord, CEO of HTM Group. Since the beginning of the year, but the activity is again down, 1.2%, except for sales professionals on the Internet, such as Darty and Fnac. These are already doing about 10% of their sales through this channel, twice as Boulanger, who made his priority. Points boulanger.com withdrawals and will appear in the old Saturn, because a client of two picks the order.More reason to want to see HTM Group "soon" its goal of 150 stores Boulanger on the rise, with major cities and especially Paris-line of sight. International expansion, produced by its competitors, remains a dream, "but before going abroad, one must be strong in our home market," said Francis cord. Confident, it provides a higher turnover of Boulanger 3% over the year, at constant perimeter.

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Asian stock markets continue to ride a wave of optimism after the Greek Parliament voted Wednesday austerity plan imposed on the country. Allowing it to qualify for the new tranche of international financial assistance of 110 billion euros was granted last year. As clashes continue between now expected between demonstrators and police, MPs are now called to vote on the bill of the plan voted on yesterday.

The Nikkei 225 gained 0.36% to 9832.72 points. The increase is significantly more pronounced in Chinese markets: the Hang Seng in Hong Kong climbed 1.70% to 22,436.80 points and the CSI 300 in Shanghai rises from 1.51% to 3045.50 points.

On the other Asian financial centers, the trend is similar. The Taiwan TAIEX advances 0.43% at 8610.54 points.In Australia, the S & P / ASX 200 is 1.49% at 4597.10 points, the FTSE Singapore Straits Times gained 1.04% to 3111.73 points and in India, the BSE Sensex was up 0.24% to 18,738 points.

South Korea, Asia's fourth largest economy, has lowered its growth forecast for 2011 to 4.5% against 5% originally planned, due to rising oil prices. In addition, inflation is expected to reach 4% for the year, against 3% originally planned. The Kospi gained 0.47% to 2104.21 points.

A successful introduction to Buy Your Dreams

This good news from Greece strongly supports the bank stocks. In Hong Kong, HSBC Holdings climbed 2.17% to 77.6 Hong Kong dollars and Bank of Communications is 1.91% to 7.46 Hong Kong dollars.In Japan, Mitsubishi UFJ Financial Group climbed 2.35% to 391 yen and Sumitomo Mitsui Financial Group was up 1.97% to 2485 yen.

Note that the Stock Exchange of Shenzhen (southern China), the action of the automaker Build Your Dreams (BYD), in which the American billionaire Warren Buffett owns 9.89%, soared 43.7% to 25.87 yuan for the IPO.

In addition, the South Korean giant Samsung Electronics filed a complaint against Apple to prevent it from importing to the United States several of its most famous products manufactured abroad. At the Seoul Stock Exchange, Samsung lost 0.84% ​​to 826 won.

Oil prices without direction

Oil prices were without leadership in electronic trading Thursday in Asia after sharp rise in the day following the adoption by the Greek Parliament of a tight budget, analysts said.In morning trading, a barrel of "light sweet crude" for delivery in August took 15 cents to 94.92 dollars. That of Brent North Sea crude for August delivery fell by 32 cents to 112.08 dollars.

Busy schedule these days. The successor to Dominique Strauss-Kahn to head the International Monetary Fund could indeed be announced this Tuesday – Christine Lagarde is the favorite -. But it is Greece that all eyes remain fixed, while growing and sy strikes may last until the vote of the austerity plan by the Greek Parliament which must take place by Thursday. However, it seems, according to analysts, the markets are betting on good news. While the euro area would, as a precaution, already developed a backup in case of a negative vote.

In the wake of Wall Street Monday closed sharply higher, the Paris Stock Exchange has expanded its gains yesterday, Tuesday, in the morning, but irregularly.After winning up to 1%, the Cac 40ne accounted for more than 0.77% in late morning, above the 3825 points, and 0.55% in mid-session at 3817.47 points.

On the currency markets, the euro declined slightly against the greenback mid-term, to 1.4275 dollar.

As for oil prices, a barrel of "light sweet crude" for delivery in August gained 0.29% to 90.87 even dollars in mid-session.

Housing: housing starts and building permits up

On the macroeconomic front, the number of starts of new homes increased by 11.4,% year on year in France for the period from March to May, while the number of building permits for these homes has increased 4.3%, according to figures from the Ministry of Housing.

At 18 hours, will be published the figures for registered job seekers and offers collected by the job center in May.

In the U.S., the S & P / Case-Shiller of home prices in April (15 hours) and consumer confidence in June (16 hours) are also expected.

Carrefour jumps, Casino unscrews Accor (3.01% to 29.44 euros) held in mid-session the head of the CAC40, while Alstom (-1.43% to 41.08 euros) was last in the index star. Alstom, which takes 14 hours to its General Assembly on Tuesday.Against a background of optimism about the outcome of the parliamentary debate on the budget austerity in Greece, the banking sector performs well: Crédit Agricole climbed 2.50% to 9.87 euros, Societe Generale is 1.54% to 38.25 euros, BNP Paribas rose 1.10% to 50.71 euros and Natixis gained 1.04% to 3.29 euros.

EADS: + 0.09% to 22.07 euros

China could control dozens of Airbus during a visit of Chinese Premier Wen Jiabao Tuesday in Berlin, said on Monday sources familiar with the matter.

Carrefour: + 2.16% to 27.02 euros; Casino: -5.10% to 62.54 euros

The distribution group received Monday a "proposal" to create Gama Brazilian joint venture equally owned by both groups in Brazil, the latter to eventually become a shareholder of Carrefour.Casino intends to disturb their alliance, saying the project "hostile", prepared in secret, but against which "has the power to oppose."

In addition, the rating agency Fitch has downgraded the French retailer Carrefour up a notch to BBB +, along with a negative outlook, expressing concern the pace of recovery activities and French pressure from shareholders , said in a statement Tuesday.

Thales: -0.41% to 28.27 euros

According to an internal study cited by the Tribune, the electronics group shows a drastic decrease of 13% of customer satisfaction since the arrival of the new direction.Some regret the centralization of applications and other lack of attention to their concerns.

Lagardère: + 0.92% to 28 euros

Analysts at the Swiss bank UBS raised their recommendation on the title to "buy" against "neutral" before.

Trigano: -4.08% to 22.10 euros

The specialist for caravans and motorhomes has said it expects a sales growth and results in 2011, following growth of 8.2% of its business in the third quarter, which covers the period from March to May

Teleperformance: -6.84% to 19.41 euros

The global call center cut its operating margin target in 2011 because of the recent slowdown in its business in the United States.

BioAlliance Pharma: + 1.83% to 6.12 euros

The biotechnology company said it had filed with the French Drug Agency an application for leave to Phase III clinical trial for Livatag, treatment of primary liver cancer.

CGG Veritas: + 0.06% to 23.2 euros

The group signed with the oil services group Bourbon marine services to offshore oil and gas a charter contract for five years to six new vessels support and assistance to its seismic surveys.

The indexes are volatile on Wall Street Monday. After starting at equilibrium, the Dow Jones returns to the 12,000 points mark and goes up from 0.70% to 12,020 points in the morning. S & P and Nasdaq rising 0.86% respectively in 2675 and 0.61% points to 1276 points.

This hesitation is tinged with nervousness in many markets, on both sides of the Atlantic, while determining opens one week in Greece. The vote on Wednesday and Thursday by the Greek Parliament, the new austerity plan imposed on the country already focused the attention of investors.

In this tense atmosphere, the euro regained a little against the dollar, while still fears of contagion in the eurozone. To 15 hours, the single European currency was worth 1.4199 dollars against 1.4190 dollars on Friday evening at 21 hours.For their part, oil prices fell Monday at the opening in New York, still within the scope of the decision of consuming countries to market crude oil dipped into their reserves. To 15 hours, on the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for August delivery traded at 90.51 dollars, down 65 cents from Friday.

Household spending disappointing

On the macroeconomic front, consumer spending of U.S. households were unchanged in May for the first time in nearly a year, while revenues increased 0.3%, slightly less than expected, according statistics released Monday by the Commerce Department. Adjusted for inflation, spending fell by 0.1% in May for the second consecutive month.The decline in vehicle sales after the disruption of production caused by the earthquake of March 11 in Japan may explain the decline.

The PCE price index base (core) has also increased by 0.3%, its biggest increase since October 2009, after growing 0.2% in April. On an annual basis, the index closely watched by the Federal Reserve, rose 1.2% against 1.1% the previous month.

"These are disappointing figures: the actual use sign its second decline after a strong increase in the first quarter," said Inna Mufteeva, an economist at Natixis, saying "more concerned about the risks to the short-term economic recovery. "

Other indicators U business card.S. manufacturers are also expected this week.And they may not much reassure investors already worried about the slowdown out of global growth and problems, ever more acute, the European sovereign debt.According to analysts at Aurel BGC, regional surveys of manufacturing, Dallas (Monday), of Richmond (Tuesday), then Chicago and Milwaukee (Thursday) could further deteriorate.

The ISM manufacturing index for its national will on Friday, as car sales in June and the numbers of the activity in the construction sector.

Nike and Black & Decker to a

On the corporate side, Nike (0.91% to 81.92 dollars) will publish on Monday, before the market opening results for the fourth quarter, before an information day, from Tuesday, with analysts, on these results and the long-term strategy around the CEO, Mark Parker at the headquarters of Beaverton (in Oregon).

Stanley Black & Decker (1.49% to 70.31 dollars) also adds that on Monday the offer made by the Swedish Securitas Niscayah of his compatriot, a supplier of safety equipment, with a proposal valuing the company a , 2 billion, including debt.

Treatment of diabetes developed by Bristol-Myers Squibb Lab (-0.50% to 28.79 dollars), in conjunction with AstraZeneca, was effective in a study over two years, but an increasing number of cases of bladder cancer or breast cancer was observed in patients.

Philip Morris (0.39% to 65.36 dollars) is threatening to launch legal action against the Australian government, which intends to impose on tobacco packaging generic without distinctive logo, to fight against smoking.

Facebook weigh $ 70 billion

Note that the investment fund Capital GVS took a small stake in Facebook, valuing the social network about $ 70 billion (49 billion euros). The fund said Monday it has bought 225,000 shares at an average price of 29.28 dollars each.

The number of outstanding shares of Facebook is about 2.4 billion, according to data specialist Sharepost. Facebook leaders consider an inevitable IPO but are silent on his calendar. At $ 70 billion, Facebook is valued slightly below Amazon. Com, Cisco Systems or Hewlett-Packard.

The mood remains gloomy in the Paris Stock Exchange on Thursday. In the aftermath of a session that saw the CAC 40abandonner 1.49%, morale improved slightly with the release of U.S. indicators better than expected. In the afternoon, the Paris index erased some losses and ended down 0.38% to 3792.31 points after hitting a low of 3743.97 points.

The London Stock Exchange also ended lower, the FTSE-100 index lost 0.76% to 5698.81 points. The Frankfurt Dax finished down slightly from 0.07% to 7110.2 points.

This bad mood, which resulted in Wall Street and Asian markets this morning in the dark red, is mainly due to Greece. Indeed, the financial position and policy of the country bogged down.The special meeting of finance ministers has ended in failure Wednesday, Europeans failing to agree on the role of private creditors in the new rescue measures. Meanwhile, violent demonstrations took place in Parliament of the country, forcing the Prime Minister George Papandreou to announce a reshuffle of his government that is expected to announce on Thursday evening.

Decline in jobless claims across the Atlantic

In addition to Greece, the eyes were again turned to the United States Wednesday, the publication of disappointing statistics showed the weakness of the U.S. recovery, particularly in the industry.On Thursday, the news was, however, quite good: the new jobless claims have declined more than expected and the United States, where 414,000 benefit claims are submitted from June 5 to 11 – a decrease of 4% compared to last week.Analysts had expected 421,000 new registrations.

The housing starts and building permits issued in the United States are also rising again in May, increasing by 8.7% and 3.5%, according to figures released Thursday by the Commerce .

However, the deficit in the current account of the United States has widened in the first quarter to 119.3 billion against $ 112.2 billion the previous quarter, according to figures released Thursday by the Commerce Department.

Manufacturing activity declines in the Philadelphia area for the first time since September, said Thursday the U.S. central bank (Fed), whose local activity index fell to -7.7 against all odds, the lowest level since July 2009.

In the euro area, consumer prices rose 2.7% year on year, after 2.8% in April, according to a second estimate of Eurostat made similar to the first end of May.

On the currency side, the euro has stabilized against the dollar in late afternoon. Around 17:30 the European currency was worth 1.4166 dollars against 1.4182 dollars late Wednesday. In the morning, the euro has continued to fall weighed down by the Greek crisis, and fell to 1.4090 dollars, its lowest level for three weeks.

Values ​​to follow

Banking

French banking stocks are still under attack on Thursday. They are among the largest declines the CAC 40 business cards. Societe Generale lost 3.28% to 37.50 euros, Crédit Agricole loose 2.77% to 9.63 euros, BNP Paribas was down 2.20% to 50.17 euros. Axa Natixis and follow the trend with decreases of 3.60% to 14.60 euros and 1.37% to 3.45 euros.Dexia unscrews for its share of 4.56% to 2.15 euros.

Areva: -2.80% to 25.31 euros; Eramet: -1.83% to 217.50 euros

Luc Oursel, deputy CEO of Areva, is the favorite to replace Anne Lauvergeon at the head of French nuclear specialist, says the newspaper La Tribune.In addition, the group extended for six months its shareholders in companies with Eramet Sorame CEIR and representing the shareholders of the family Duvan.

Bull: -1.47% to 4.68 euros

The French computer group announced Thursday a plan to recruit a thousand employees for 2011, including 400 in France, mostly young graduates.

Sanofi: -0.92% to 51.43 euros

The group announced Thursday the signing of a research collaboration of two years with the Dutch biotechnology company Audion Therapeutics for the development of potential treatments for hearing loss.

EADS: + 0.65% to 21.53 euros

The low-cost Philippine Cebu Air said Thursday it had entered into a $ 3.8 billion with Airbus for an order for 30 A321s and seven A320s.

Renault: -1.16% to 36.27 euros

The Renault-Nissan is about to take control of Russian automaker AvtoVAZ, an acquisition that would propel the world's third largest, said Thursday the Japanese newspaper Nikkei.

L'Oreal: -1.18% to 84.39 euros

The businessman Stephane Courbit explained in a letter to Liliane Bettencourt why he wants to break the financial partnership that had just concluded the head of Lov group and the heir to L'Oreal.

Total: -0.58% to 37.52 euros

The tanker has completed its friendly takeover bid of about $ 1.3 billion over the American SunPower, a majority of shareholders of the company specialized in solar panels have agreed to tender their shares.

Eurosic: + 0.56% to 33.99 euros

Batipart, family holding company specializing in real estate, will launch a takeover bid for Eurosic in the coming weeks after the sale by Nexity and Banque Palatine of all of their shares in the specialist real estate office.

Vivendi: -0.22% to 18.13 euros

Between September and the summer of 2012, SFR will take the rays of the telephone 80 Fnac stores in France.

France Telecom: -0.49% to 14.21 euros

The operator said Wednesday it had issued 670 million euros maturing in 2019 and 2021.

Perno Ricard: -0.42% to 66.46 euros

The group announced Wednesday that its board had decided to pay an interim dividend of 67 cents per share.

After market, Zodiac Aerospace announce its third quarter revenues.

"CONTEST Estimate the Cac 40 in late June