Wall Street opened on earnings Monday, investors regaining confidence through several projects of mergers and acquisitions.
A few minutes after the start of trading, the Dow Jones gained 0.54% to 10,268.56 points, the Standard & Poor's 500 index 0.58% to 1077.89 points and the Nasdaq Composite 0.67% to 2194.34 points.
Hewlett-Packard on Monday launched an offer of 1.6 billion dollars (1.2 billion euros) to acquire the data storage company 3PAR, competing with the offer of its rival Dell issued last week.
Titles 3PAR Dell responded to the rise of this announcement, gaining 0.83% respectively and 42%, while HP lost 0.27% at the opening.
The group Campbell Soup gained 0.19% after announcing consider an offer of 1.5 billion pounds (2.3 billion dollars) on the activities of Britain's United Biscuits cookies.
Finally, 3M took the 1.10% group is likely to spend about two billion dollars (1.6 billion) in acquisitions this year, twice more than its previous estimate.
"This suggests that companies have reached a point where they want to grow their cash. (…) This is obviously a positive sign for markets," said Michael O'Rourke, a specialist market with BTIG LLC.
Wall Street ended lower on Thursday, concerned about the unexpected rise in jobless claims and mixed numbers on sales of major distributors in July, which underlined the fragility of the economic climate on the eve of the monthly employment statistics.
The Dow Jones closed at a decline of 5.45 points, or 0.05%, to 10,674.98.The Standard & Poor's 500 index lost 1.43 point (-0.13%) to 1,125.81 and the Nasdaq composite 10.51 points assigned to (-0.46%) to 2293.06.
The jobless claims rose to 479,000 last week, while the market awaited them down.
This figure disappointed investors and urged them to exercise caution on the eve of the monthly report on employment in the Department of Labor, which should show a further rise in the unemployment rate in July.
"The entries do not persist in fall and this could foreshadow a bad time tomorrow," said Bruce Zaro, responsible for technical strategist for Delta Global Advisors.
Economists polled by Reuters expect for July 65.000 jobs were non-agricultural, particularly because of the end of many fixed-term contracts in the public related to the decennial census of population.The private sector, he should have created 90,000 jobs.
These uncertainties on the employment front are fears of a continued weak consumer spending, the main engine of the U.S. economy.
As for July, 28 retailers tracked by Thomson Reuters have reported an increase of 2.9% over one year of their store sales, while analysts had forecast to 3.1%.
NEWS CORP SOUGHT AFTER RESULTS
The Morgan Stanley sector yielded 0.35%.
Several values of the retail sales of which have consistently been disappointed penalized, like JC Penney, which yielded 7.7%, and Dillards (-5.2%).
"We are now in a situation where dollars are increasingly scarce in the pockets of consumers, thus able to compete for these dollars is intensifying," said Lawrence Creatura, manager at Federated Clover Investment Advisers.
If July is the 11th month of improvement in retail sales according to data from Thomson Reuters, analysts point out that comparisons to last year will be less favorable over the month.
Large groups have published their results on Wednesday or Thursday experienced divergent fates: while News Corp. gained 3.6% thanks to strong performance of its cable networks and the resumption of advertising revenue from its newspapers, Viacom yielded nearly 1 %, analysts have been disappointed by the stagnation of its turnover.
Also note the sharp increase in fertilizer producers, such as CF Industries (+3.5%) and Mosaic (+1.8%) in the wake of wheat prices after the announcement of the interruption of Russian exports .
In after-hours trading just after the closing, Kraft Foods gained 2.8% in response to the publication of its quarterly. The title had ended in decline 0.3% on the New York Stock Exchange.
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.
The Paris Bourse is distributed downward and fell below 3,600 points on Thursday mid-morning, the fears surrounding the sovereign debt of the euro area resurfacing and penalizing bank stocks.
In addition there are comments from the Federal Reserve of the United States, acknowledged Wednesday that a U.S. economic recovery faltering.
A significant gap between the yields (spreads) of debt Greek and German revived fears about the euro area.
The CAC 40 index, which opened in rebounding, losing 1.17% to 3599.27 points at 10:55, the next support lying at 3580.
BNP Paribas (-4.19%), Societe Generale (-3.01%), Dexia (-2.73%) and Credit Agricole (-3.05%) recorded the largest declines the CAC 40.
"The market fell because of Greece, the spreads diverge. It's affecting the banks," said a vendor.
Other major European markets have also turned down.
Raoul Sachs, edited by Dominique Reynolds
The presence of BP boss Tony Hayward to a luxury yacht regatta on the Isle of Wight in full spill in the Gulf of Mexico has prompted a deluge of criticism, White House head, said Sunday that s 'acting in a "serious mistake".
The stunning images of sailboats cruising off the southern coast of Great Britain during the race "JP Morgan Asset Management Round The Island" turned Loop Sunday morning on U.S. television. The CEO of British oil giant was present Saturday, with family, to support the yacht "Bob", worth 300,000 euros, which he co-owns with two others.The boat finished fourth.
See also: Why BP has it all wrong
But the trip goes wrong side of the Atlantic, two months after the start of the spill, while every day brings new images of oiled birds or contaminated beaches by the millions of gallons of oil spilled into the Gulf of Mexico.
"It's part of a long series of mistakes and blunders of communication," he told the secretary general of the White House Rahm Emanuel in an interview with ABC television broadcast Sunday. "I think we can all conclude that Tony Hayward not start a second career in public relations consultancy," joked the top U.S. official."This is a serious mistake," he said, addressing a new pic to the Director General of the British group: "To quote Tony Hayward, he found his life before.
Author of several communication blunders, including Mr. Hayward said of the disaster: "There is nobody who wants more than me that all this ends, I want my life before."
BP immediately sent his spokesman to the front to try to extinguish the fire. "Wherever he is, he is still in touch with what is happening" on the oil spill, said one of them. It is also his "first day off" since the beginning of the disaster, said another.
In vain, well beyond the White House, critics recycled again and again on all sides. For Greenpeace, the attitude of Mr. Hayward "puts salt in the wounds" of victims of the spill, while the New York Times noted on Sunday that Mr.Hayward had "triggered a new controversy." "The culmination of arrogance", has even dropped the Republican Senator Richard Shelby of Alabama, one of the states affected by the spill. "The yacht should rather be there picking up and clean the oil," he said on Fox News.
These remonstrances conclude a difficult week for the controversial boss of BP, which is expected to retire soon from the daily management of the crisis.Auditioned Thursday to Congress, an officer was entitled to the same ton of comments from elected officials shake their heads at the mistakes in front of the BP oil spill.
The British group would also raise $ 50 billion to fund the cost of oil spill in which the fund of 20 billion dollars that BP has agreed to create this effect, according to British press.
It is also to reassure the markets after the steep decline of BP action.
BP has also ensured he paid $ 104 million in response to complaints from residents of the Gulf of Mexico affected by the spill, indicating having received a total of 64,000 complaints.
The group gets an average total of 25,000 barrels of crude per day, according to U.S. Coast Guard, while the well located at 1,500 m depth spits each day between 35,000 and 60,000 barrels (up to 9.5 million liters) .
Boursorama reported net earnings were down 64.65% to 8.2 million euros in first quarter 2010, marked by higher marketing expenses and the lack of appreciation of assignment.
Specialist banking and online brokerage subsidiary to 56% of Societe Generale, said that the decline in net profit is 11% excluding special items, that is to say, outside the capital gain 14 million euros on the sale of Bank in Spain Self recorded in 2009.
Of the top three in the year, revenues Boursorama expand 5.5% to 48 million euros, while operating expenses rose by almost 15% to 35.7 million because of strong higher marketing expenses.
In February, Hugues Le Bret, the new CEO of the company, had expressed a wish to accelerate the development of Boursorama in online banking with the aim of increasing the number of openings bank accounts.
In the first quarter, new accounts have been multiplied by 2.4 over the first three months of 2009, with 15,810 new bank accounts.
The company intends to further consolidate its market share in online banking with the launch this month of an advertising campaign throughout France.
"While maintaining our fixed costs under control, we decided from the beginning of the year to enhance our strategy of winning through, inter alia, to increase our marketing spend," advised Hugues Le Bret, cited in the statement.
As it grows more in the online bank's new management wants Boursorama balancing company revenue by decreasing the share of income from trading.
The Socgen, parent Boursorama, has also indicated in late April that the results of its subsidiary since January 1 are recorded in its retail banking division in France and not in the asset management business, banking private and investor services as before.
General The Company publishes Wednesday its first quarter results. The consensus reached by the editor of Reuters expects a net profit of 614 million euros against a loss of 278 million a year earlier.
The action Boursorama closed Monday at 9.23 euros, giving the company a market capitalization of nearly 806 million euros.
In exchange for the bailout unprecedented 110 billion euros, Greece agrees to follow an intensive austerity. This plan aims to reduce the deficit from 13.7% to 3%, and this in two years … An ambitious, some would say impossible … Yet other countries such as Ireland, Sweden and Finland, have succeeded in the past to reduce their deficit.
Those who managed …
The report on public finances published by the IMF in November 2009 lists the fiscal adjustment efforts of two dozen countries over the past 30 years. Ten countries have improved their finances more than 10 points. In 1989, Ireland had such success in lowering the deficit to 20 points, knowing that it still took him 11 years to get there … Another example: in 2000, Sweden and Finland have managed to reduce their deficit of 13.3 points, and that in 7 years.The IMF report notes that more than 20 countries have been able to adjust more than 5 points, their public balance: Japan by 8.1 points, 7.9 points in Italy, Germany by 5.3 points. However, there is no state that in two years. The most "fast" are Israel in 1983 (11.1 points in 3 years) and Cyprus in 1994 (5.2 points in 3 years).
So why Greece did it not happen? After all, she has already, according to IMF data, managed to reduce its deficit from 12.1 points in six years to reach 4.8% in 1995. Admittedly, the statistics of the Greek period are unreliable. Nevertheless, other countries have indeed succeeded in completing their program of readjustment.