Good quarterly publications have enabled the Paris Bourse to bring up a new session (0.43%) Thursday in a market resolutely optimistic that obscures the bad news such as rising oil prices or the strength of euro. At the close, the index was featured awarded points to finish at 17.26 points 4021.88. In London, the FTSE has barely declined (-0.07%) and in Frankfurt the Dax was 0.64% awarded. The Euro Stoxx 50 gained 0.51%. The prospect of the long Easter weekend resulted in a relatively cautious investors and a low transaction level, with 3.1 billion traded. Like the previous two sessions, the Paris Bourse drew its strength in the quarterly publications of firms that, overall, pleasantly surprised by the operators are often higher than expected. "We rely on these figures and we put aside the bad news (Greek concerns on the debt, the situation in Ireland and Portugal and the warning to the United States on its debt) and on the top level of the euro and oil, "said Dov Adjei, seller of shares at Aurel. "There are inconsistencies on the market shares," he said surprised himself from the good performance of the score while the euro is strong against the dollar (1.4586 dollars) and that oil is increase (over 111 dollars a barrel). He said one explanation for the increase is also due to the influx of liquidity into the markets through the program of asset purchases made by the Fed (U.S. central bank). On Thursday, the market has only taken into account the quarterly publications and quickly corrected his slight disappointment related to the indicator on unemployment benefits in the United States. These have declined during the second week of April, but less than expected by the market. The market also ignored the slowdown in activity in the manufacturing industry in the region of Philadelphia in April. Schneider Electric has been leading the ACC 40 (2.67% to 117.3 euros), after having achieved a turnover increase in the first quarter, confirmed its objectives, and especially denied rumors of a takeover of Tyco International. Peugeot has done a nice new route (2.60% to 29.18 euros), still supported by his reassuring figures released Wednesday. Scor has benefited from the increase in Nomura's recommendation that went to "buy" cons "neutral" before to be 2.24% to 19.41 euros. Technical corrections have benefited BNP Paribas (1.74% to 51.42 euros). Side decreases, there Accor (-3.99% to 30.19 euros) penalized by the vague direction of the group's prospects. Publicis has accused the sudden slowdown in organic growth and lost 3.63% to 37.48 euros. Profit taking weighed on IMS (-1.67% to 17.7 euros) and several technology stocks that had risen sharply the previous day. STMicroelectronics has lost 0.59% to 8.25 euros, Soitec -1.41% to 10.85 euros.
2011年4月23日星期六
The Ariane rocket carrying two satellites took off Friday evening from Kourou
An Ariane 5 rocket carrying two telecommunications satellites, Intelsat and Yahsat Y1A New Dawn, took off from Kourou spaceport in Friday at 6:37 p.m. local time (11:37 p.m. Paris time), according to a broadcast transmission over the Internet.
Meningitis: USA allow the vaccination of infants with Menactra
U.S. health officials have expanded the use of Menactra vaccine against meningococcal meningitis in children aged 9 to 23 months, announced the French Sanofi Pasteur in a statement Friday.
Results and Fed menu on the Paris Bourse for a week shortened
Shortened due to Easter weekend, next week should still be devoted to results of companies on the Paris Bourse, even if investors await the Fed meeting after the warning from Standard & Poor's (S & P) on world power. On Monday, the rating agency has provoked a thunderclap, lowering the prospect of the United States, which means that the country could lose its precious triple A (best possible score) in both years. Already ailing with the persistent rumors about Greece, the markets have dropped sharply earlier in the week before picking up just as much and recross the threshold of 4,000 points in Paris. During the past week, the CAC 40 index rose 1.19% to end Friday - the last day of the week - to 4021.88 points. After the initial shock, reading analysts had been seeing this warning from S & P "a blessing in disguise." "Stock markets have certainly shaken but there was no discernible fears about the U.S. bond market. The markets have seen this warning as a weapon for Obama offers a plan to reduce debt," said Bertrand Lamielle, B * Capital (BNP Paribas). Investors quickly turned to business results, on both sides of the Atlantic, and speeches of leaders who have thus far been fairly optimistic despite the Japanese disaster occurred in March and the inexorable rise in commodity prices materials. For most investors, shocks such as Japan or the troubles in the Middle East "are seen as temporary events and insufficient to stop the resurgence," said Frederick Buzaré of Dexia AM. Because he believes the stock markets still rely on the U.S. Federal Reserve (Fed) "to provide cheap and abundant liquidity in order? Fuel the recovery." In this context, the meeting Tuesday and Wednesday the Fed will be closely monitored, because the central bank can provide guidance on its strategy for ending the crisis so that its measures of economic support (called quantitative easing program) must to end June 30 The question is whether it goes to end its program, how fast, or whether it will launch a new one. For Frédéric Leroux society Carmignac Gestion, the prospect of a third program monetary support seems likely because the U.S. economy still has many gray areas (employment and housing in particular) and that fiscal restraint required by S & P will have to be compensated. The publication Thursday of U.S. growth in first quarter will be another highlight of the week. Besides the flag, it must reckon with several statistics on real estate and consumer confidence. Above all, investors will have to be cautious as the market evolves in volume expanded slightly, indicating a "low level of conviction," says Buzaré, which is suitable for a turnaround. "A market that is down 2% Monday, and 2% on Wednesday lost its compass" for his part said Mr. Lamielle B * Capital.
A 380: first flight of the Paris-Montreal
The first Airbus A380 carrying the scheduled Air France between Paris and Montreal landed Friday at PE Trudeau airport in Montreal, it was learned from the direction of the airport.
AF flight 346 touched down with 33 minutes late to 17:53 instead of the scheduled time of 17.20, after a flight of just over seven hours over the Atlantic.
The bulk carrier of 538 seats will now conduct a daily flight between Paris and Montreal with a scheduled departure from Paris at 16:10 and arrives at 17.20 in Montreal. The return flight will depart daily from Montreal at 19h55 to arrive in Paris at 8:30 the next morning.
After New York in November 2009, Montreal is the second largest destination for the A380 in North America. The next links, Washington and San Francisco, will open June 6, 2011.
AF flight 346 touched down with 33 minutes late to 17:53 instead of the scheduled time of 17.20, after a flight of just over seven hours over the Atlantic.
The bulk carrier of 538 seats will now conduct a daily flight between Paris and Montreal with a scheduled departure from Paris at 16:10 and arrives at 17.20 in Montreal. The return flight will depart daily from Montreal at 19h55 to arrive in Paris at 8:30 the next morning.
After New York in November 2009, Montreal is the second largest destination for the A380 in North America. The next links, Washington and San Francisco, will open June 6, 2011.
Paris: microeconomic aspects overshadow everything else
In mid-session, before a long weekend of three days, the Dow Jones (+0.35%) continues to flirt with a score of 12. 500Pts (12,497 at the highest at 19.15) and the "S & P" (+0.5%) to trace its zenith 1.340Pts. The most striking is the index "VIX" that the floor tu annual 14.5 Pts like in mid-February or during the summer of 2007 (or late October when the Dow peaked towards 14.700Pts). The confidence of the managers reached new highs last 48 hours ... as if the U.S. budget problems did not exist and as if the Fed could continue forever to print the hundreds of billions of dollars that are saving the country from bankruptcy for 2 years.
Paris (0.43%) ended the session exactly at opening (4021.9 pts) and aligns a third consecutive session for a weekly gain of 1.2%.
In Europe, the average increase amounted to 0.45% in the wake of the DAX-30 gained 0.6% and that of Milan (1.45%). London consolidates -0.15% -0.25% and Amsterdam in the wake of the telephone operator KPN (-8%).
The CAC 40 was opened on Thursday a second "gap" while the subsequent avalanche of quarterly profits "exceed the estimates" (Intel, Apple, UTX, VM-Ware) upstaged a further decline in the Ifo climate index Business in Germany (to 110.4 in April against 111.1 in March). No "bad news" does not seem to affect markets: Wall Street climbs 0.5% in mid-session (Nasdaq rises to 2.818Pts, "S & P" to 1.337Pts) despite the plunge of the index ' Philly Fed 'to 18.5, against 43.4 in March (and 37 expected).
In Europe, no one seems to care about the voltage levels at 2 years Greek (22.2%) and Portuguese (11% ... 10% more than the day before). Such levels, however, invite to fear imminent restructuring of the Greek debt and losses for the banking sector (BNP-Paribas takes 2.05%, Dexia +1.6%) and insurance (AXA gained 1.2%).
Currency traders also ignore the problem of sovereign debt peripheral countries since the euro has set a new annual record at $ 1.4650 (1.4580 cec evening).
The dollar benefit only marginally from the slight decline in enrollment in weekly unemployment benefits: they fell from 13,000 to $ 403,000 (385,000 anticipated), according to the Labor Department. The four-week moving average rose 2,250 to 399,000 and the total number of persons receiving regular benefits has remained stable at 3.69 million.
So the micro-economic aspects that dominate the debates in this period of "quarterly" on the CAC, Schneider Electric, ranked in the forefront (+2.7% to 117.3 euros), following the announcement of an organic growth of 11.8% in the first quarter and confirmed its full-year, starting with organic growth of 6% to 9% this year. Peugeot is also in the head with up to 2.6% Saint Gobain (+2.4%) and Lafarge (+1.6%) which enjoys a favorable recommendation from Goldman Sachs.
Alstom rose on his side of 1% after signing with Shanghai Electric Group a letter of intent that includes the creation of a 50/50 joint venture to consolidate the activities of both partners in the field of boilers for power plants.
CAC Hors, Wendel (+3.2%) and Edenred (+3.3%) are in the vanguard ... Accor also disappoints (-4% to 30.2 euros), after the publication of a turnover of 1.35 billion euros for the first quarter 2011, up 5.8% as reported and 5.5% on a comparable basis.
CAC Hors Sodexo (-1.6%) and Beneteau (-3.95%) are also severely punished after announcing their respective quarterly performance below estimates.
Paris (0.43%) ended the session exactly at opening (4021.9 pts) and aligns a third consecutive session for a weekly gain of 1.2%.
In Europe, the average increase amounted to 0.45% in the wake of the DAX-30 gained 0.6% and that of Milan (1.45%). London consolidates -0.15% -0.25% and Amsterdam in the wake of the telephone operator KPN (-8%).
The CAC 40 was opened on Thursday a second "gap" while the subsequent avalanche of quarterly profits "exceed the estimates" (Intel, Apple, UTX, VM-Ware) upstaged a further decline in the Ifo climate index Business in Germany (to 110.4 in April against 111.1 in March). No "bad news" does not seem to affect markets: Wall Street climbs 0.5% in mid-session (Nasdaq rises to 2.818Pts, "S & P" to 1.337Pts) despite the plunge of the index ' Philly Fed 'to 18.5, against 43.4 in March (and 37 expected).
In Europe, no one seems to care about the voltage levels at 2 years Greek (22.2%) and Portuguese (11% ... 10% more than the day before). Such levels, however, invite to fear imminent restructuring of the Greek debt and losses for the banking sector (BNP-Paribas takes 2.05%, Dexia +1.6%) and insurance (AXA gained 1.2%).
Currency traders also ignore the problem of sovereign debt peripheral countries since the euro has set a new annual record at $ 1.4650 (1.4580 cec evening).
The dollar benefit only marginally from the slight decline in enrollment in weekly unemployment benefits: they fell from 13,000 to $ 403,000 (385,000 anticipated), according to the Labor Department. The four-week moving average rose 2,250 to 399,000 and the total number of persons receiving regular benefits has remained stable at 3.69 million.
So the micro-economic aspects that dominate the debates in this period of "quarterly" on the CAC, Schneider Electric, ranked in the forefront (+2.7% to 117.3 euros), following the announcement of an organic growth of 11.8% in the first quarter and confirmed its full-year, starting with organic growth of 6% to 9% this year. Peugeot is also in the head with up to 2.6% Saint Gobain (+2.4%) and Lafarge (+1.6%) which enjoys a favorable recommendation from Goldman Sachs.
Alstom rose on his side of 1% after signing with Shanghai Electric Group a letter of intent that includes the creation of a 50/50 joint venture to consolidate the activities of both partners in the field of boilers for power plants.
CAC Hors, Wendel (+3.2%) and Edenred (+3.3%) are in the vanguard ... Accor also disappoints (-4% to 30.2 euros), after the publication of a turnover of 1.35 billion euros for the first quarter 2011, up 5.8% as reported and 5.5% on a comparable basis.
CAC Hors Sodexo (-1.6%) and Beneteau (-3.95%) are also severely punished after announcing their respective quarterly performance below estimates.
Weekly Summary: Fundamental overshadowed by the Quarterly
Paris (0.43%) ended the session exactly at opening (4.021.9 Pts) and aligns a third consecutive session for a weekly gain of 1.2%.
Among the big winners of the week, there are luxury goods (LVMH wins +7.3%) and automotive (Faurecia +13.5%, +7% Michelin, Peugeot and Valeo 6.5%, Saint Gobain ( windshield) +4.9%).Losers side, with Natixis banking stocks (-5.7%), Credit Agricole (-5.5%), General Sté (-4.7%), Dexia (-4.1%).This diagram recall precisely that which prevailed last fall with exactly the same themes and carry the same "forgotten" portfolio managers.
What was also very quickly "forgotten" is placed on negative watch the sovereign debt of the United States by "S & P".
Jean Claude Trichet said Thursday is "confidence in the ability of USA to restore their fiscal situation" ... but he has mentioned any of the tracks that would be achieved, let alone run.
He also stressed that "some countries have lagged in the implementation of measures to restore market confidence" (a thinly veiled way to describe the U.S. that print money instead to balance their accounts ).
In Europe, the average increase amounted to 0.5% on Thursday in the wake of the DAX-30 gained 0.6% and that of Milan (1.45%).London consolidating of -0.15% and -0.25% in Amsterdam in the wake of the telephone operator KPN (-8%).
The CAC 40 was opened on Thursday a second "gap" while the subsequent avalanche of quarterly profits "exceed the estimates" (Intel, Apple, UTX, VM-Ware) upstaged a further decline in the Ifo climate index Business in Germany (to 110.4 in April against 111.1 in March).No "bad news" does not seem to affect markets: in mid-session, the Dow Jones (+0.35%) continued to attempt to register a score 12.500Pts and the "S & P" (+0.5%) to trace its zenith 1.340Pts.The most striking is the index "VIX" that the floor tu annual 14.5 Pts like in mid-February or during the summer of 2007 (or late October when the Dow peaked towards 14.700Pts).The confidence of the managers reached new highs last 48 hours ... as if the U.S. budget problems did not exist and as if the Fed could continue forever to print the hundreds of billions of dollars that are saving the country from bankruptcy for 2 years.
Wall Street is totally uninterested in the plunge of the index 'Philly Fed' to 18.5, against 43.4 in March (and 37 expected) or 1% decline in property prices.
In Europe, no one seems to care about the voltage levels at 2 years Greek (22.2%) and Portuguese (11% ... 10% more than the day before).Such levels, however, invite to fear imminent restructuring of the Greek debt and losses for the banking sector (BNP-Paribas takes 2.05%, Dexia +1.6%) and insurance (AXA gained 1.2%).
Currency traders also ignore the problem of sovereign debt peripheral countries since the euro has set a new annual record at $ 1.4650 (1.4580 cec evening).
The dollar benefit only marginally from the slight decline in enrollment in weekly unemployment benefits: they fell from 13,000 to $ 403,000 (385,000 anticipated), according to the Labor Department.The four-week moving average rose 2,250 to 399,000 and the total number of persons receiving regular benefits has remained stable at 3.69 million.
So the micro-economic aspects that dominate the debates in this period of "quarterly" on the CAC, Schneider Electric, ranked in the forefront (+2.7% to 117.3 euros), following the announcement of an organic growth of 11.8% in the first quarter and confirmed its full-year, starting with organic growth of 6% to 9% this year.Peugeot is also in the head with up to 2.6% Saint Gobain (+2.4%) and Lafarge (+1.6%) which enjoys a favorable recommendation from Goldman Sachs.
Alstom rose on his side of 1% after signing with Shanghai Electric Group a letter of intent that includes the creation of a 50/50 joint venture to consolidate the activities of both partners in the field of boilers for power plants.
CAC Hors, Wendel (+3.2%) and Edenred (+3.3%) are in the vanguard ... Conversely, Publicis lost 3.6% to 37.48 euros after posting revenue up 10.7% for the first quarter, with organic growth of 6.5%, and expressed a 'guarded optimism' for the rest of the year.
Accor also disappoints (-4% to 30.2 euros), after the publication of a turnover of 1.35 billion euros for the first quarter 2011, up 5.8% as reported and 5.5% on a comparable basis.
CAC Hors Sodexo (-1.6%) and Beneteau (-3.95%) are also severely punished after announcing their respective quarterly performance below estimates.
Among the big winners of the week, there are luxury goods (LVMH wins +7.3%) and automotive (Faurecia +13.5%, +7% Michelin, Peugeot and Valeo 6.5%, Saint Gobain ( windshield) +4.9%).Losers side, with Natixis banking stocks (-5.7%), Credit Agricole (-5.5%), General Sté (-4.7%), Dexia (-4.1%).This diagram recall precisely that which prevailed last fall with exactly the same themes and carry the same "forgotten" portfolio managers.
What was also very quickly "forgotten" is placed on negative watch the sovereign debt of the United States by "S & P".
Jean Claude Trichet said Thursday is "confidence in the ability of USA to restore their fiscal situation" ... but he has mentioned any of the tracks that would be achieved, let alone run.
He also stressed that "some countries have lagged in the implementation of measures to restore market confidence" (a thinly veiled way to describe the U.S. that print money instead to balance their accounts ).
In Europe, the average increase amounted to 0.5% on Thursday in the wake of the DAX-30 gained 0.6% and that of Milan (1.45%).London consolidating of -0.15% and -0.25% in Amsterdam in the wake of the telephone operator KPN (-8%).
The CAC 40 was opened on Thursday a second "gap" while the subsequent avalanche of quarterly profits "exceed the estimates" (Intel, Apple, UTX, VM-Ware) upstaged a further decline in the Ifo climate index Business in Germany (to 110.4 in April against 111.1 in March).No "bad news" does not seem to affect markets: in mid-session, the Dow Jones (+0.35%) continued to attempt to register a score 12.500Pts and the "S & P" (+0.5%) to trace its zenith 1.340Pts.The most striking is the index "VIX" that the floor tu annual 14.5 Pts like in mid-February or during the summer of 2007 (or late October when the Dow peaked towards 14.700Pts).The confidence of the managers reached new highs last 48 hours ... as if the U.S. budget problems did not exist and as if the Fed could continue forever to print the hundreds of billions of dollars that are saving the country from bankruptcy for 2 years.
Wall Street is totally uninterested in the plunge of the index 'Philly Fed' to 18.5, against 43.4 in March (and 37 expected) or 1% decline in property prices.
In Europe, no one seems to care about the voltage levels at 2 years Greek (22.2%) and Portuguese (11% ... 10% more than the day before).Such levels, however, invite to fear imminent restructuring of the Greek debt and losses for the banking sector (BNP-Paribas takes 2.05%, Dexia +1.6%) and insurance (AXA gained 1.2%).
Currency traders also ignore the problem of sovereign debt peripheral countries since the euro has set a new annual record at $ 1.4650 (1.4580 cec evening).
The dollar benefit only marginally from the slight decline in enrollment in weekly unemployment benefits: they fell from 13,000 to $ 403,000 (385,000 anticipated), according to the Labor Department.The four-week moving average rose 2,250 to 399,000 and the total number of persons receiving regular benefits has remained stable at 3.69 million.
So the micro-economic aspects that dominate the debates in this period of "quarterly" on the CAC, Schneider Electric, ranked in the forefront (+2.7% to 117.3 euros), following the announcement of an organic growth of 11.8% in the first quarter and confirmed its full-year, starting with organic growth of 6% to 9% this year.Peugeot is also in the head with up to 2.6% Saint Gobain (+2.4%) and Lafarge (+1.6%) which enjoys a favorable recommendation from Goldman Sachs.
Alstom rose on his side of 1% after signing with Shanghai Electric Group a letter of intent that includes the creation of a 50/50 joint venture to consolidate the activities of both partners in the field of boilers for power plants.
CAC Hors, Wendel (+3.2%) and Edenred (+3.3%) are in the vanguard ... Conversely, Publicis lost 3.6% to 37.48 euros after posting revenue up 10.7% for the first quarter, with organic growth of 6.5%, and expressed a 'guarded optimism' for the rest of the year.
Accor also disappoints (-4% to 30.2 euros), after the publication of a turnover of 1.35 billion euros for the first quarter 2011, up 5.8% as reported and 5.5% on a comparable basis.
CAC Hors Sodexo (-1.6%) and Beneteau (-3.95%) are also severely punished after announcing their respective quarterly performance below estimates.
Wall Street euphoria, confidence and record annual zenith
That's it, the Dow Jones (+0.42%) was pulled upwards by about thirty points in the last quarter of an hour to register a score of 12. 500Pts and finish the week above (12.506Pts). Price manipulation does even more careful to remain discreet and to inspire a news "concrete" that would justify the last minute to register new annual records. This is a show of force that seeks only help make the best use of arbitration which shall only of themselves and are intended only to serve the public interests of insiders.
This increase is consistent with an atmosphere of deliberate and resolute denial of the macroeconomic environment (bad stats, alarming signals internal policies, U.S. budget deficit unresolved) just to emphasize that the only micro-economic aspect of quarterly results. Without question a moment on their "sustainability" or the miracle of a permanent money surplus which exists by the grace of printing money from the Fed. It's blissful euphoria typical "it wins every time" everything rises indistinctly, oil, copper, gold, stocks, interest rates ... we have only bet with your eyes closed: no losers, free meal for everyone, which is the Fed regia.
"There is so much money that we do not know what to do" indicate many strategists. Investor confidence is at its highest (80% of managers bullish, it's more than in January 2000 or October 2007), the VIX is at historical low income (14.5 Points) 3 days after having jumped to 21pts .
The surveillance of the negative U.S. debt by S & P "and the reasons for this decision did not matter because Apple sells a lot of I-Phones and full Intel chipset High performance is everything account in the eyes of Wall Street, nothing else exists.
The remaining deficit, the $ 112.5 per barrel, the housing prices, which fell again -1% in March, disappointing employment figures, the plunge of the index "Philly Fed" to 18 , 5, against 43.4 in March (and 37 expected), it's like it happened in a parallel world.
Do not try to "reason with the market" postulates an adage because "it will correct its own excesses" (the danger is that it focuses systmatiquement "flight forward").
The Nasdaq took 0.63% (at 2.820Pts) in the wake of F5 Network (+5.4%), JDS Uniphase +5.8%, +4.1% Netapp, Motorola 3.7% E-Trade +3.3%, +3% Qualcomm, Broadcom (+2.2%) and of course Apple (+2.4%).
Among the few folds of the day include pharmaceuticals with Pfizer drop of -3%, Gilead -4.2%, -8.4% and Teva RIM (-1.2%) and Mattel (-1%).
This increase is consistent with an atmosphere of deliberate and resolute denial of the macroeconomic environment (bad stats, alarming signals internal policies, U.S. budget deficit unresolved) just to emphasize that the only micro-economic aspect of quarterly results. Without question a moment on their "sustainability" or the miracle of a permanent money surplus which exists by the grace of printing money from the Fed. It's blissful euphoria typical "it wins every time" everything rises indistinctly, oil, copper, gold, stocks, interest rates ... we have only bet with your eyes closed: no losers, free meal for everyone, which is the Fed regia.
"There is so much money that we do not know what to do" indicate many strategists. Investor confidence is at its highest (80% of managers bullish, it's more than in January 2000 or October 2007), the VIX is at historical low income (14.5 Points) 3 days after having jumped to 21pts .
The surveillance of the negative U.S. debt by S & P "and the reasons for this decision did not matter because Apple sells a lot of I-Phones and full Intel chipset High performance is everything account in the eyes of Wall Street, nothing else exists.
The remaining deficit, the $ 112.5 per barrel, the housing prices, which fell again -1% in March, disappointing employment figures, the plunge of the index "Philly Fed" to 18 , 5, against 43.4 in March (and 37 expected), it's like it happened in a parallel world.
Do not try to "reason with the market" postulates an adage because "it will correct its own excesses" (the danger is that it focuses systmatiquement "flight forward").
The Nasdaq took 0.63% (at 2.820Pts) in the wake of F5 Network (+5.4%), JDS Uniphase +5.8%, +4.1% Netapp, Motorola 3.7% E-Trade +3.3%, +3% Qualcomm, Broadcom (+2.2%) and of course Apple (+2.4%).
Among the few folds of the day include pharmaceuticals with Pfizer drop of -3%, Gilead -4.2%, -8.4% and Teva RIM (-1.2%) and Mattel (-1%).
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