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Sodexo and Publicis still considered the best candidates for CAC 40

Sodexo and Publicis are the best candidates for an entry in the CAC 40 if a change in the composition of the index consider Friday traders and analysts surveyed by Reuters.

Similarly, they cite Lagardère and Accor among potential exits.

The date of the quarterly meeting of the scientific evidence of NYSE Euronext is not official, but the rule is that the announcement of possible changes to make at least two weeks prior to their implementation, expected by Friday 17 experts September after-hours trade.

If this were the case, the announcement of these changes would take place and by the opening of markets on Monday.

In NYSE-Euronext, it provides no details relating to the timing of the board index this month.

Anyway, despite rumors of "spring cleaning" in the ACC, experts expect instead that the board does not make big changes, consistent with its having indices relatively stable in their composition .

"The board will be rather conservative.I do not see a huge overhaul with multiple inputs and outputs of the ACC, "said a quantitative analyst, who declined to be identified.

LAST CHANGE: REPLACED BY TECHNIP FRANCE AIR

In a recent note available on the market, Exane BNP Paribas said it expects "no more than a change" in the ACC.

The last change in the composition of the CAC held a year ago with the release of Air France-KLM, which had been replaced by Technip.

In addition to Sodexo and Publicis, the experts also cite Natixis as a title of CAC Next 20, CAC 40's antechamber, the best position to take the step, under the criteria for capitalization and liquidity cash loans.

However, despite its increase of 24% since the beginning of the year, the already substantial weight in the ACC Bank, an extremely volatile, could play against her.

"Sodexo and Publicis Groupe candidates are the most balanced. Liquidity Sodexo is not as good as the Publicis Groupe, but its market capitalization is greater than the group of advertising," wrote analysts at Exane.

"If I had to choose, I choose Sodexo, which is the largest value of the relatively liquid CAC Next 20," said a quantitative analyst based in London."But they could also decide to do nothing at all," he adds.

Side exits, Dexia is also cited as potential exits, but the board index could drop to the negative impact this could have on the bank in trouble, say some stakeholders.

Lagardere, by far the lowest capitalization of the CAC 40, and Accor, whose size has declined since the graduation of its services business Edenred are most clearly eligible, they are likely to emphasize.

Changes in the composition of indices cause movements in the securities on the part of managers that replicate indices.For example Sodexo and Publicis, an entry in the ACC lead, respectively, equivalent to 13.1 purchases and 8.6 days of trading, while for Lagardere, would represent an output equivalent to 14.3 days sales transactions, Exane analysts said.

Women's magazines Be and Envy are about to merge

Lagardere Group and Marie-Claire will announce on Friday the merger of their respective women's weekly, Be, Envy, launched in spring, following the slowdown in sales, "wrote Le Figaro.

The announcement comes as the magazine Grazia, the Italian group Mondadori, celebrates its first anniversary, the newspaper said.

Lagardere Active said Thursday it would make an "important announcement" on Friday morning, without further details.

"The proposed merger of two weekly was presented yesterday to the works of two groups," said a source quoted by Le Figaro.

To move into the niche market of women but crowded, Lagardere had decided in March to create the brand Be, both magazine, website, television series, application for the iPhone and web radio.

Lagardère Group owns 42% Marie Claire, one of which minority interests Arnaud Lagardère, general partner of the group, reiterated Thursday night trying to get rid.

"Be" was the first launch of magazine audience Lagardère since 2003. The group, which had invested some 20 million euros rough in launching this new brand, targeted a breakeven within three years.

According to Le Figaro, the approximation of the two week early due to faltering sales.Be seen its circulation fall to 171,397 copies sold in late June against nearly 230,000 at the beginning, while qu'Envy barely exceeded 160,000 at the same time cons over 240,000 at its launch in February.

The Paris Bourse ended down 0.24% to 3643.14 points

With the exception of Frankfurt, the European stock markets ended in retreat, investors are showing more hesitant after the session dealing with conflicting U.S. indicators, the Paris stock exchange for ending its declining share of 0.24% in 3643 , 14 points.

The pan-European Eurofirst 300 index closed the week down 0.76% but gained 5.3% on the month of July, its biggest gain in four months.

As for values, the construction sector takes prices back down, falling by 3.89% Lafarge, punishing investors lowering the forecast cement demand for 2010.

Prices, however, were supported by some solid corporate results found.Total and closing up 0.94% after posting earnings growth in the second quarter.

Alcatel-Lucent, which announced on Friday its annual targets, jumped 11.07% on the session.

The title, however, BP has lost 1.81% due to new fears about the evolution of the oil spill in the Gulf of Mexico.

Wall Street opening undecided

Wall Street operates on a hesitant note in early trading, pending the publication of monthly statistics of sales of new homes.

The major indexes started up after raising earnings forecasts from FedEx Group but they quickly moved into the red.

Ten minutes into trading, the Dow Jones was almost in equilibrium at 10,427.27 points, the Standard & Poor's 500 index was virtually unchanged at 1102.91 points and the Nasdaq Composite Index retreated 0.16 % to 2265.93 points.

FedEx earned more than 4% after raising its earnings forecast for the quarter and year.

Values pharmaceutical react to rumors of acquisition of biotech company Genzyme. Genzyme earned the title at 5.33% 65.85 dollars in early trade.

Finally, the BP side as New York took 2.79% to 37.89 dollars before the board meeting, scheduled for Monday evening, which could define the modalities of the departure of CEO Tony Hayward and announce his replacement by Bob Dudley, the American leader who also oversees the fight against the oil spill.

Anne Lauvergeon would be maintained at the head of Areva

President Nicolas Sarkozy has decided to keep Anne Lauvergeon at the head of Areva, said Tuesday radio France Info.

Rumors evicting Anne Lauvergeon circulating since the beginning of the year, partly because of dissension in the camp and the French nuclear setback in late 2009 with the loss of a major contract in the UAE.

The decision by the Head of State was expected. In late May, a government source had told the Echo that "exception error on his part brilliantly, it will remain until the end of its mandate" in July 2011.

Anne Lauvergeon has been appointed for the first time as President of the Executive Board of Areva in July 2001. His mandate was renewed in July 2006 and expires in one year.

Inflation slowed more than expected in June in Germany

Inflation in Germany slowed slightly more than expected in June according to first estimates released Monday, a move that could fuel concerns about possible deflationary risks threatening the euro area.

Consumer prices rose 0.9% yoy according to preliminary federal statistics, whereas their increase had reached 1.2% in May

Economists polled by Reuters last week had forecast an average price increase of 1.0% over one year.

This slowdown is largely due to lower gas prices, said the Federal Office of Statistics.

From month to month, inflation in Germany remained stable at 0.1%.

"The German economy appears to have avoided a deflation proper form but was still struggling to collect inflationary pressures," said Carsten Brzeski, economist at ING Financial Markets.

The slowdown in inflation in June coincided with the debate on the impact of German austerity plan on the other countries of the euro area.

Chancellor Angela Merkel presented in early action expected to generate 80 billion euros in budget savings over the next four years, in order to achieve by 2013 the German structural deficit within the limits set by the EU European.

Across the eurozone, inflation should slow to 1.5% yoy in June, against 1.6% in May

Details of the German statistics show that consumer prices calculated at European harmonized standards (HICP) remained stable in June compared to MayOn a year they show an increase of 0.8%, against 1.2% in May

These figures could provide an argument with officials of the European Central Bank (ECB) who argue for a continuation of measures to support the economy.

"We expect German inflation (annual rate) will end the year close to zero and there is some probability that it returns into negative territory," said Jennifer McKeown of Capital Economics.

"While many peripheral economies of the euro area are moving toward a long period of deflation, the ECB has every reason to maintain an attitude of a dove," she adds.

The first estimate of inflation over the past month is calculated based on published data from six Länder.The annual inflation has slowed in each of them in June

Less risk of the French note, said an analyst at Fitch

France is in progress on structural reforms, which implies that there are now fewer risks today than the note of France has deteriorated, said Friday at a Reuters television analyst ratings agency Fitch.

The government of François Fillon has pledged to reduce its deficits and this week announced a reform of the pension system.

Asked if it was less risky than sovereign debt rating lowered or French today than a month or two, David Riley, director of sovereign ratings at Fitch, said: "Yes, well safe ".

"France is much more than it did before, particularly when it announced a stabilization plan and with no details," he said.

A project to reform the French government aims to restore financial equilibrium of pension schemes in 2018, in particular through the gradual increase of 60-62 years in 2018 the legal age of retirement.