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The last change in the composition of the CAC held a year ago with the release of Air France-KLM, which had been replaced by Technip.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

Puma sees an increase in its adjusted operating profit in 2010

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.

Spir stabilizes its margin despite a further fall in sales

Spir Communication has again suffered in the first half of the decline in sales in the free advertising press, but cost reductions have allowed it to stabilize its margin.

The media group and distribution of printed materials and packages still struggling to develop its model based on formerly free press announcements, but he expects further restructuring to achieve its objective of restoring the balance operational 2010.

Spir has declined by about 10% of its total turnover in the first half to 280.7 million euros, with a fall of 15% of cluster media, press and internet, and 6% of the segment distribution of printed advertising.

"In the context of an advertising market remains uncertain, Spir Communication is continuing its transformation and is maintaining its target for operating profit to breakeven in the year 2010," the group wrote in a statement.

The operating margin improved slightly semester to 1.7% (+0.2 points) thanks to cost efficiencies, including through a plan for adapting the press division, started in 2009, which reduced by 22% operating losses of this segment in the first half.

The group aims to reduce the share of sales made in the traditional activities of the press free to print ads in favor of a growth in Internet sales.

The press had in the first half for nearly 30% of total turnover, against 12% for sales generated by the division of Internet media.

The action Spir stable closed Tuesday at 16.40 euros in a market capitalization of just over 100 million euros.

Wall Street ends sharply down

The NYSE has ended sharply lower Friday, the Dow Jones industrial yielding 30 261.41 points, or 2.52%, to 10,097.90 points.

The S & P 500 is broader, lost 31.62 points, or 2.88% at 1064.86 points.

The Nasdaq Composite fell 70.03 points on his side (3.11%) to 2179.05 points.