Investors continue to play it safe Friday in anticipation of monthly U.S. employment. The European stock markets opened slightly down in the wake of the fence undecided on Wall Street, the CAC 40, FTSE 100 and the DAX lost between 0, 1% and 0.3%.
The Tokyo Stock Exchange ended down after three sessions of consecutive increases.
In the Greek case, the European Central Bank (ECB) is studying how to contribute to the bailout of Greece in Athens and could make profits earned on Greek bonds it holds, by circumventing the prohibition of direct financing of the States.
Values, Volvo earns 1.8%. The Swedish manufacturer of heavy trucks has yet reported an operating profit below expectations for the fourth quarter of 2011.
LVMH lost 1.5%, a victim of profit taking after the publication of its 2011 results.
This is what the UMP Hervé Mariton. The Liberal member for the Drôme also wish not to replace two out of three employees retiring. Manifestation officials Paris in January 2009.
The former UMP minister Hervé Mariton calls Tuesday to increase the working time of officials "without additional compensation" and not to replace, for three years, two out of three employees who retire, two against one now. The Liberal member for the Drôme this Tuesday night on behalf of his political club Reform and Modernity, 24 proposals to be the presidential debate of 2012.
One suggestion is to increase the working time of employees without additional compensation.The increase in working hours would be modulated depending on the grade: an extra hour per week for officials in grade C (lower level), two hours in class B and three hours in Category A.
Hervé Mariton also wants to go beyond the rule of non-replacement of an official two retiring, established in 2007 by the government. It offers up to two of the three officers for three years. He also wants to convert some officials to "priority tasks" and launch a RGPP (General Review of Public Policy) "local".
Among his other proposals, Hervé Mariton wants to "prohibit" any public aid to enterprises, "except for research," "decentralize" employment center and introduce "a quarter of alternation," "mandatory and paid" at the end of class first.
An ad for a room of 4.5 m² sold 38,000 euros has rekindled the controversy over the excesses of the real estate in Paris. Should we see evidence of a "market shacks" and the activity of the slumlords? Elements of response. http://www.flickr.com/photos/gcattiaux/
"Avenue Théophile Gautier, the seventh with no elevator. Refurbished room with skylights, approximately 4.5 m2 floor, WC on landing. Ideal office or residence. Price: 38,000 euros … Or nearly 8500 euros per m2. " Wednesday blamed the Liberation journalist Tonino Serafini, this ad has revived the controversy over the excesses of the housing market in Paris.
"Prices are high in Paris in general. They can go up to 12,000 euros per m²" says Jean-Yves Mano, the deputy mayor of Paris in charge of housing. Theophile Gautier Avenue, the average price rises in 9200 and euros, or 700 more than the closet in question.According to the election, "it's the size that is unreasonable. This announcement is outrageous and I hope no one will respond favorably" says he. The site pap.fr, who had published, was also quick to remove it.
But it is far from an isolated supply. "Further announcements show that there is a market shacks" said Libération journalist also on his blog. It evokes a room as well rue du Faubourg Saint-Denis (Paris IX) of 6 m2, or another in the 17th, 7 m2, both at 45,000 euros. But who are the real buyers in this market? What is their purpose?
Merchants of sleep?
The law prohibits a surface lease under 9 m², considered minimum level of decency. "But I do not see anyone buying a small area at this price if not for the purpose of return" admits Jean-Yves Mano.
The guarantee will be given to the bad bank Dexia should not lead to questioning of the note debt of France by the three U.S. credit rating agencies, Standard and Poor's, Moody's and Fitch. The rating agency Standard & Poor's has lowered a notch Friday, August 5 sovereign rating of the United States, from "AAA" to "AA +".
The rating agency Standard & Poor's said Monday that the AAA rating of France, the best possible, was "justified", with a stable outlook, according to Moritz Kraemer, head of European states in an interview with Bloomberg TV.
Triple A is "justified", he said, adding that S & P maintains a "stable outlook on the rating for the moment." "As an agency we report rating the risk of a decline in the note by changing the negative perspective", said Mr. Kraemer, which is therefore now not the case in France.
Mr. Kraemer was questioned the ability of France to maintain its triple-A given the state of public finances and debt. "However, we continue to monitor the discussions in the political line of sight with the presidential election approaching, to know the strategy to reduce the debt ratio," he detailed. He added that "the main challenge lies in public finances," a major problem in the euro zone for him. Mr. Kraemer said that France has already taken steps to control its spending and reduce its deficit and found particularly "solid" pension reform.
These words occur while the representatives of the Belgian, French and Luxembourg have agreed Sunday to provide a guarantee of 90 billion euros to Dexia's funding to facilitate its dismantling.Moody's, one of the competing U.S. S & P, said Monday that the impact of this guarantee on the note of the French state will be "limited".
As for Fitch, she believes that "exposure to Dexia is quite modest relative to GDP (gross domestic product) and does not in itself a significant risk to the note of France," said Maria-Mroueh Malas, Director the division rulers.
The agency also believes that the government's commitment to stabilize the banking sector is beneficial because it removes uncertainty and helps to resolve the crisis in the euro area. "France still enjoys an exceptionally strong financial flexibility and prudent economic management, strengthening its ability to withstand economic shocks," said Fitch.
The Minister of Finance, Baroin ruled Monday that the decommissioning has an impact on the sovereign rating of the Hexagon, the three major rating agencies. "For the rating agencies, we are one of the best worldwide brands and will remain" thanks to structural reforms and the policy of reducing expenditures and compliance with the schedule that the French government has become, at he promised.
German consumer confidence is expected to slightly deteriorate in September, reaching a low of ten months in the context of the debt crisis in the eurozone and fears of a recession in the U.S. shows Thursday the monthly survey institute GfK.
This leading indicator of consumer sentiment, calculated on the basis of a survey of about 2,000 people, spring down to 5.2 in September against 5.3 in August, but in line with the expectations of the analysts interviewed by Reuters.
The component of macroeconomic expectations fell to 13.4 against 44.6 the previous month.But the purchase intentions were up, supported by a strong labor market.
"The deterioration of the debt crisis and the sharp fall in stock markets around the world at the moment weighs only slightly on consumer sentiment," said the institute GfK said in a statement.
"The domestic setting extremely positive, unemployment down and wages up offset these negative factors."
The unemployment rate in Germany came out in May and June to 7.0%, its lowest since the reunification of the country.
But recent statistics have fueled doubts about the ability to Berlin to continue playing its role as a locomotive of the euro zone, amid debt crisis and fears of a global economic slowdown.
In the second quarter, Germany posted a slower growth to just 0.1%, weighed down by a lowered consumption and low investment in construction.
German business morale has meanwhile posted a dip in August marked the most since the 2008 crisis, according to figures released Wednesday.
In this context morose, German households now fear being asked to contribute to increasing attempts to resolve the budget crisis European, is the institute GfK.
Largest economy in the euro zone, Germany pays more than a quarter of the invoice bailouts granted by the region to try to stem the debt crisis.
The CEO of Starbucks garnered supporters after his call for a suspension of donating money to American politicians until an agreement "fair" be struck between Democrats and Republicans on the debt and the budget.
In a letter made public Monday, Howard Schultz, who led a painful restructuring of the first global chain of coffee shops, also called on U.S. contractors to support the economy by hiring.
The head of NYSE Euronext Niedrauer Duncan and his counterpart Robert Greifeld Nasdaq OMX has already expressed support for this initiative.
"I think the idea of Howard is good and I told him he could count on me," writes Robert Greifeld in a letter to executives of Nasdaq.
The call of the CEO of Starbucks is in addition to other interventions of senior private sector leaders who have moved strife torn with Republicans and Democrats in the debate over raising the ceiling of U.S. debt.
These divisions have contributed to plummeting consumer confidence to lowest in more than 30 years and have been cited by Standard & Poor's among the reasons which led to lower sovereign rating of the United States.
This weekend, the New York Times published a paper in its pages of one of its editorial on the call to Howard Schultz, in addition to an editorial in the American billionaire Warren Buffett for a higher taxes on the wealthy, including himself.
"These are highly respected leaders and they want something," said Todd Morgan, director and founder of Bel Air Investment Advisers in Los Angeles, whose company manages the portfolio of households with assets exceeding $ 20 million.
"I think other business leaders will follow suit and require Washington ambitious decisions, which could restore confidence in the economy of our country," he adds.
In his letter, Howard Schultz invites business leaders to engage with him "to suspend any further campaign contributions to the attention of the president and all members of Congress until a fair and bipartisan agreement be concluded that puts our country on more solid fiscal foundation for the long term. "
Howard Schultz CEO also urged his colleagues to invest in new projects or products that will draw up the economy at a time when the fears and uncertainties discourage companies from investing, consumer spending and banks to lend.
"Record levels of cash piling up in business, unused," said the head of Starbucks. "The only way to stop this circle of fear is to break it."
Air France-KLM, Europe's largest airline by revenue, reported in July an increase in passenger traffic coupled with higher revenues but a decline in cargo business.
Action Air France lost 5.74% to 6.56 euros by 9:20, amid fears of a relapse of the global economy and extension of the debt crisis in the eurozone.
The Franco-Dutch company rose 6.9% in passenger traffic last month, higher than the 5.4% increase in capacity operated on the month.
The load factor was up for his 1.2 points to 87.3%.
"Unit revenue per available seat kilometer (RASK) excluding currency has improved over the previous year, driven by traffic in business class," said Air France said in a statement.
Networks Americas and Asia, the load factor in both cases exceeded 90%, while traffic has increased by 9.6% and 8.1%.
The European network is itself remained "dynamic" last month (+7.2%) despite the debt crisis.
However, freight transport remains to the death as in previous months.Unrest in Africa and the Middle East, combined with overcapacity in from Asia, have resulted in a decrease of 2.7% in cargo traffic in July.
Capabilities having remained broadly stable, the load factor fell 2.1 points to 64.0%, while unit revenue per tonne kilometer (RATK) excluding currency is down from one year to another .
The International Air Transport Association (Iata) said last week that the tendency to transport passengers remained on an upward trend, but at a rate lower than the 10% rate observed during the rebound following the last economic crisis.
"The slowdown reflects the deterioration in economic growth and rising costs caused by rising fuel prices and the higher taxes in some countries," said IATA.
The association also noted that freight volumes, a barometer of trade, had not shown growth since July or August 2010.
NYSE Euronext profit on Tuesday, down 16% in the second quarter due to lower trading volumes on stock markets and derivatives markets in New York and Europe.
The transatlantic exchange operator in the middle of a merger with the German Deutsche Börse to nine billion dollars (6.3 billion), made a profit of $ 154 million, or 59 cents per share in second quarter , against $ 184 million, or 70 cents per share a year earlier.
Revenues rose 1% to 661 million.
On average, analysts expected a profit of 60 cents per share and a turnover of 652.7 million dollars, according to Thomson Reuters consensus I / B / E / S.
Degradation of the note of Portugal Wednesday exacerbated the nervousness of European markets ended the session down while the large international banks and private creditors met in the morning for a second floor plan of aid to Greece.
The Paris CAC 40 index finished down 0.44% (-17.49 points) to 3961.34 points.
Of the other major European markets, the trend is in unison.London closed down 0.35% at 6002.92 points, while Frankfurt was just better, finishing with a loss of 0.11% to 7431.19 points.
The decline of pan-European FTSEurofirst index (-0.35%) ends the longest series of consecutive sessions of gains since April.
The rating agency Moody's downgraded four notches Tuesday of sovereign rating to Baa1 from Portugal to Ba2 with negative outlook.
The announcement helped to fuel price volatility, the index measuring it takes more than 3% on the session.
European banks were affected by changes in the evolution of European fiscal crisis, the sector index Stoxx 600 European banks yielding 1.79% on the session.
Crédit Agricole, which owns nearly 24% of the Portuguese bank Banco Espirito Santo (-5.68%), falling by almost 5%. Societe Generale and BNP Paribas dropped 2.15%, respectively, and 1.41%.
In Italy, Unicredit and Intesa Sanpaolo shares plunged 7.06%, respectively, and 4.46%.
Debt yields Portuguese have them increased steadily since the lowering of the sovereign rating. The performance of the Portuguese paper two years has gained 300 basis points to 16.6% and the paper 10 years took more than 140 basis points to 13.6%.
Belgian power company Electrabel, a subsidiary of GDF Suez, should be split into two in order to increase competition, said the head of the Regulatory Commission of Electricity and Gas (CREG), Belgium.
Electrabel would split its operations and supply power to promote competition, says the head of the Creg François Possemiers in an interview published Friday by the newspaper L'Echo.
"If we have one side of producers and other suppliers can set prices in a completely free (…) it will be real competition," he says.
The electricity prices in Belgium are among the highest in Europe and François Possemiers noted that his proposal would benefit companies such as green energy company Lampiris, which must buy its electricity.
As for electricity suppliers, the proposal goes further than the rules of the European Union today, that simply separating the producer and the network operator.
The plan was sent to Belgian authorities and the Creg plans to raise the issue with his European colleagues in the coming weeks.