Hennes & Mauritz said on Thursday that the fashion label Lanvin would draw her new clothing line, sold in the fall.
The Swedish group, Third World chain clothing stores, known for its trendy and cheap clothing, and regularly appeal to the world of fashion and show business to design collections.
The singer Madonna, or the creators Karl Lagerfeld, Stella McCartney and Roberto Cavalli have been solicited by the group.
These collections have little impact on the total turnover of the group, but analysts believe they provide visibility for the brand and enhance its image.
"Lanvin will provide to H & M tradition of French luxury, both modern and full of fantasy", explains Margareta van den Bosch, Advisor at H & M creation
This collection, designed by the artistic director of Lanvin, Alber Elbaz, and menswear designer Lucas Ossendrijver, will be launched on November 23 in 200 H & M stores worldwide.
Consumer spending in U.S. households rose 0.4% and revenues by 0.2% in July, show statistics released Monday by the Commerce Department.
Consumer spending and showing the strongest gain in four months, receiving a slight increase in revenue.
The figures for consumption and income showed an unchanged rate in the month of June
Economists and analysts polled by Reuters had forecast an average increase of 0.3% of consumer spending and incomes in July.
The savings rate was 5.9%.
After the publication of these figures, futures on the S & P 500 have cut their losses.
Crédit Agricole has extended by one year the return to profit of its Greek subsidiary Emporiki due to credit losses more than expected because of the recession in Greece. The woes of its Greek subsidiary Crédit Agricole will require to spend a further depreciation of 400 million euros in its accounts the second quarter, after the 500 million spent last year.
The French bank, which bought Emporiki in 2006, told analysts still expected a pretax loss of 130 million euros for its subsidiary in 2011, instead of a profit of around 10 million expected initially. For 2010, the expected loss for Emporiki will also increase, to EUR -750 000 000 -350 000 000 cons around. Return to the green accounts is the Greek subsidiary of the blow pushed to 2012 instead of 2011.Around 12:30, the Crédit abandoned agricultural 4.9% to 9.472 euros, underperforming the sector index Stoxx 600 European banks (-2.13%). BNP Paribas and Societe Generale fell by 3.3% and 4.6%.
Battered stock market because of fears surrounding its exposure to the crisis in Greek, the title Credit Agricole sells more than 22% since January 1. Pressed by the market, the bank eventually amount to 850 million euro exposure to sovereign debt Greek."We realize qu'Emporiki always weighs more heavily on agricultural credit, with a cost of risk emerges from 450 million euros more than expected in the original plan," said Tom Bartholomew, head of credit research at Louis Capital Market.
Standardization in 2013
The economic crisis in Greece was in fact forced Crédit Agricole to harden its scenario losses on credit, which is increased by 450 million euros between 2010 and 2013. According to the bank, the cost of risk will normalize in 2013. Leaded by two successive years of losses in 2008 and 2009, Emporiki has also been recapitalized in March by Credit Agricole, to the tune of 989 million euros.
Its parent company now estimates qu'Emporiki will have a "specific need" for 550 million of additional capital by the end of 2011 to confront the crisis and complete its restructuring.Taken to a drastic plan to reduce its costs, the Greek subsidiary of Crédit Agricole had already planned last year to reduce its overhead 21% and close 57 branches, resulting in the departure of 1,500 employees.
The French bank believes that the decline in enrollment of Emporiki will be "faster" in 2010 but "slower than anticipated in 2011. In this scenario, the operating rate of Emporiki will improve faster than expected in 2011 to 62.5% instead of 68.8%.
The New York Stock Exchange opened down sharply Friday after the release of monthly statistics of employment in the United States, generally poorer than expected.
The U.S. economy has destroyed 131,000 non-farm jobs in July, mainly because of the end of temporary contracts linked to the census, and the private sector hired less than expected.
Economists and analysts polled by Reuters on average expected destruction of 65,000 jobs.
A few minutes after the start of trading, the Dow Jones lost 0.7% to 10,600.59 points, the Standard & Poor's 500 gave up 0.72% to 1117.69 points and the Nasdaq in 2273 yielded 0.83%, 99.
The persistence of high unemployment (the rate remained unchanged at 9.5% last month) is seen as an obstacle to sustained recovery and statistics on Friday are likely to feed fears of a prolonged weak growth or a relapse into recession.
"What it mostly means is that our economy is stagnating.We are not creating jobs, or it should be the case now, "said Wayne Thomas, head of analysis at John Thomas Financial.
The statistics of the labor market may affect the speech will keep the Federal Reserve after its monetary policy meeting next Tuesday, even if the market anticipates no change in interest rates.
Among the main contributors to the decline of the Dow are industry groups such as 3M (-1.2%) and Boeing (-1.4%).
Among the few values increase in the index, gained 1.3% Kraft Foods after its results.The number one food in North America has published a quarterly profit above expectations and raised its target to reduce costs after the acquisition of Cadbury.
American International Group took over 3.5% after its own results and the announcement of the opening of discussions for an early withdrawal of the state capital.
Puma anticipates an increase in its adjusted operating profit in 2010 compared to 2009, the global economic recovery had a positive effect on demand for sporting goods.
In exchange, Puma loses 2.6% in the first exchanges in a market up slightly.
The world's third largest industry, behind the U.S. and fellow Nike Adidas, had a first revised upwards its 2010 targets in April.
He then said he planned to grow its annual turnover between 0% and 5% but closer to the bottom of this range, and a growth of at least 70% of its taxable income.He confirmed that goal Thursday.
Consumer confidence has reached a peak of 26 in July in the euro area, which gradually takes shape of the debt crisis but the longer-term prospects remain uncertain.
The adjusted operating profit came out of Puma up 1.7% to 64.1 million euros in the second quarter, slightly below a Reuters poll that gave 69 million.
Turnover increased 2.5% to 615.4 million euros (consensus of 628 million), while net income increased by 16.4% to 44.8 million (consensus: 49.1 million).
The subsidiary of PPR, which also announced Thursday the launch of a share repurchase program, has a PER of 13.7, whereas it is 15.1 to 17.1 for Adidas and Nike, according to Thomson Reuters StarMine.
The action gives 2.3% to 230.45 euros in early morning.
French banks BNP Paribas, SocGen, Credit Agricole and BPCE, parent company Natixis, have passed the stress tests conducted by European authorities said on Friday the Bank of France.
In a statement, the regulator said that following the test on a scenario of economic decline worse than expected and a new crisis on the European sovereign debt, the four French banks show a ratio of Tier One financial solvency through 9 3% at end 2011.
In this scenario, which holds a particular hypothesis of two years of recession in the euro area in 2010 and 2011, European regulators demanded that they tested 91 European banks show a ratio of at least 6%.
"This is a satisfactory result, not surprisingly, is quite comforting," said Christian Noyer, Governor of the Bank of France at a press briefing.
Christian Noyer, who is also member of the Governing Council of the European Central Bank, said that the total exposure of the four French banks, European sovereign debt amounted to 240 billion euros at end-March, which accounted for 43 billion in their "trading book" (portfolio of financial assets).
He also explained that a risk of default on sovereign debt of a sovereign state had been excluded from testing scenarios.
To restore investor confidence, the European Union 91 European banks submitted to stress tests to ensure that their capital was adequate to cope with a worsening economic conditions and financial market shocks.
Led by the Committee of European Banking Supervisors (CEBS) and drawing lessons from the debt crisis of Greek, tests have included discounts which reduce the market value of some bonds.
Fears of contagion in Europe of the fiscal crisis of Greece has weighed heavily in recent months on financial stocks.
The sector index Stoxx 600 European banks yields almost 5% since the beginning of the year.
Plastic Omnium said Thursday confident the second half after a first half of the year marked a rebound in net income and revenue thanks to the automobile and the environment.
The group specializes in large plastic parts for the vehicle (body and tanks) or for the collection of waste (containers), posted first half net profit of 72.3 million euros, against eight million a year earlier.The results of the last six months is more than double that achieved all of 2009.
"The activities of Compagnie Plastic Omnium will continue to appear dynamically in the second half of 2010," the group said in a statement.
The title, which earns more than 106% since the beginning of the year, bringing its market capitalization to nearly $ 700 million, has risen by 4.5% to 39.82 euros ten minutes after the opening of trading Paris.
If the turnover of Plastic Omnium has fallen 15% in France, total sales were up by 28.5% to 1.52 billion thanks to a near doubling of sales in North America and Asia.
Emerging markets (Brazil, Russia, India and China) now account for 9% of turnover Automotive Group, a proportion expected to rise "significantly in the next three years," said Plastic Omnium.
This balance, which specifically involves the construction of five new plants should help offset the slowdown in the European car market anticipated the second half of the year with the gradual disappearance of the last car scrapping.
Plastic Omnium has also stated that the acquisition of 50% of the Belgian Solvay Inergy Automotive Systems, a leading global fuel systems and fuel tanks, which the project was announced in June, is expected to close shortly and completed by the end of the year if the competition authorities give green light to the operation.
In the environment, the group's turnover increased by 6.2% in the first half thanks to the development of sorting and of underground containers for the collection.
The Nikkei ended down 0.23% Wednesday, penalized by concerns about the strong yen and doubts over the sustainability of U.S. economic recovery.
The Nikkei lost 21.63 points to 9,278.83 and the broader TOPIX, sold 2.9 points (0.35%) to 829.35.
While studies suggest that the Chartists fall posted recently by the Japanese stock markets draws to a close, the lack of enthusiasm shown by the indicators U.S. leaves investors hungry.
The other major concern is the expectations raised by the publication Friday of the test results of resistance experienced by 91 European banks.
For values, trading companies sector has experienced a painful session after the publication of an article revealing that Daiwa Securities Nikkei was likely to report a loss for the period April to June due to instability markets after the crisis of European sovereign debt.
Daiwa Securities dropped 3.46% and its rival Nomura Holdings fell 3.81%.
Pason Group meanwhile plunged 5.77%, the investment group of employees who predicted an annual loss due to the hardness of the labor market.
The chances of achieving economic growth of 2.5% in France in 2011, as required by government depart according to a Reuters poll of economists, who consider the measures of fiscal consolidation in Europe will weigh on demand .
Seventeen economists polled by Reuters expect, thereby increasing the gross domestic product by 1.3% next year (median forecast), against 1.7% in a poll conducted in April equivalent.
The median forecast for 2010 is 1.3% against 1.4% in April.
"The austerity measures in France and neighboring countries will weigh on demand and we expect a decline in consumption and investment in a number of European countries," said Maxime Lemerle, an economist at Euler Hermes.
Economists now expect that consumer spending, a pillar of French growth, will increase by only 1.1% in 2011, when they expected 1.4% in April.
Over two thirds of French exports to Europe by the weak demand in the region should weigh heavily on trade, according to Maxime Lemerle, which forecasts growth of 1.1% of GDP in 2011, a cons, 8% previously.
The government expects growth to reach 2.5% annually between 2011 and 2013, which would help reduce the government deficit from 8% in 2010 to 6% in 2011, 4.6% in 2012 and 3% in 2013 .
Slower growth could lead to additional measures to reduce the deficit or raising taxes.
"If we have less growth, certain expenses will tend to increase as those related to employment. So I think they might have to raise taxes a bit," said Dominique Barbet, economist at BNP Paribas.
The Economy Minister Christine Lagarde said she would not rule to revise the growth forecast for 2011 after the publication in mid-August GDP figures for the second quarter.
His counterpart on the Budget, Baroin, said the deficit reduction targets were met, although growth was below forecast.
The government plans to reduce the deficit to 6% in late 2011, 40 billion euros less than in 2010.According Baroin, 15 billion will come from the extinction of the recovery plan, saving 14 billion and 11 billion of revenue increases.
Wall Street has ended sharply higher on Tuesday, posting a sixth win in a row, in response to results and forecasts of Alcoa aluminum companies.
Alcoa reported Monday better than expected quarterly results while revising upwards its forecast for global demand for aluminum.
Alcoa shares closed up 1.2% to $ 11.
"The fact we think this trend (solid results) will contribute to re-confirm the risk in the market," said Peter Cardillo (Avalon Partners).
The Dow Jones gained 1.44% to 10,363.02 points. The S & P 500 has been 1.53% to 1095.29 points.The Nasdaq Composite Index advanced 1.99% to 2242.03 points.
The S & P has gained over 5% last week, the highest weekly gain this year and scholars eagerly awaiting the results of companies to see if this rally is justified.
But the decline in volumes worries some analysts. The volume on Monday fell to a new low of six months, observes Scott Fullman (WJB Capital Group). He also noted a decrease in the total volume of options.
Low volumes generally pass to denote a lack of conviction of investors.The summer period, however, may also explain the slowdown.
Statistic of the day was the trade deficit widened in May to its highest level since November 2008.
The Apple stock has yielded 2% to 252.11 dollars, after the site specializes Consumer Reports had indicated that he did not recommend the iPhone 4, his tests have confirmed a loss of signal when the handset is required to somehow.
Action Research In Motion, maker of the Blackberry competitor, has instead increased from 3.35% to 55.6 million.
Intel, which was to publish its quarterly after the close, gained 2.14% to 21.01 dollars.
The auction site eBay jumped from 4% to 21.02 dollars.
And even if it is pursued by XPRT Ventures company which is claiming nearly four billion dollars in damages for alleged infringement of six patents related to the development of related payment systems such as PayPal.