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The last change in the composition of the CAC held a year ago with the release of Air France-KLM, which had been replaced by Technip.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

H & M uses the label Lanvin for his fall collection

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.

Crédit Agricole sealed by its subsidiary in Greece

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 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.

Plastic Omnium second half sees a "dynamic"

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.

Soitec is a return to equilibrium in H1

Soitec said Monday sales of 2010-2011 in the first quarter increased 56.5% over the same quarter in 2009-2010 and 9.6% from the previous quarter, against a background of strong demand and thanks to a favorable currency effect.

The world's leading manufacturer of silicon-on insulation (SOI) for the microelectronics industry said in a press having achieved sales of 68.6 million euros over the period April to June 2010.

Soitec anticipates sequential growth in sales over 20% in first half on the basis of one euro to $ 1.27, with a return to balanced operating income, including its new photovoltaic business Concentrix.

"The latest information on the second quarter show a level of wafer sales support," said the company in a statement. "On a sequential basis, the quasi-stable plate sales at constant exchange rates to continue to support the initial prediction of the group given the correct orientation of the demand," she adds.

Soitec announced in May that a return to operational balance power could intervene in the first half, Concentrix out after a loss of 28.9 million euros in 2009-2010 and 28.4 million in 2008-2009.

Soitec acquired last December 80% of photovoltaic systems provider Concentrix.

EDF will take at least 10% of South Stream gas pipeline

EDF pledged Saturday to take a stake of at least 10% in the South Stream pipeline by the end of 2010 through a reduced participation of the Italian group Eni.

The public company has also signed an agreement for cooperation in the nuclear field with the Russian Rosatom public group.

These signatures are part of a series of agreements between Paris and Moscow at the World Economic Forum in St. Petersburg that France is the guest of honor.

By providing for the repurchase of at least 10% of South Stream, EDF strengthens its position in the natural gas market.

The pipeline must refuel countries of southern Europe and Central Europe via the Black Sea.

"The feasibility studies of the underwater section has begun, we can say we have never been so close to starting construction," said Gazprom CEO Alexei Miller said in a statement.

Russian Prime Minister Vladimir Putin said in April that EDF would take 20% of South Stream.

Asked if this could be the case, Alexei Miller, said: "Perhaps, perhaps.It will be at least 10%. "

This agreement allows EDF to 'take a major step in its strategy to secure its gas supplies, both to feed its own means of electricity production and marketing of natural gas deals with its customers "said CEO Henri Proglio in a statement.

The World Economic Forum in St. Petersburg was also an opportunity for EDF to enter into partnership with the Russian nuclear company Rosatom on "research and development, nuclear fuel and nuclear cooperation currently existing or under construction.

"The agreement also provides that the two groups cooperate through exchange of experience and training, including in particular visits to industrial sites in both countries," says EDF.

Rosatom is a direct competitor of the French nuclear group Areva.

Net 1, 5 billion for UBS Q1

Swiss bank UBS announced a net profit of 2.2 billion francs (1.5 billion euros) in the first quarter of 2010, after a loss of 1.98 billion francs in the same period last year.

Analysts polled by Reuters on average expected a net profit of 2.02 billion francs.

The bank had warned the markets before its general meeting that it anticipated a positive result before tax "of at least 2.5 billion francs.This post finally rises to 2.81 billion for the period under review.

On this occasion, the school had indicated that the net outflow of money in all activities had been "significantly lower than the fourth quarter of 2009.

UBS, which included a net outflow of 8 billion francs in wealth management and Swiss Bank, has reported a final amount of 8.2 billion.

The bank anticipated output of 7 billion in Wealth Management Americas and 3 billion for its asset management, and withdrawals have finally amounted to 7.2 billion and 2.6 billion respectively.

The investment bank has marked her return, earnings before taxes have tripled to 1.19 billion francs from 297 million a year earlier.The segment of trading bonds, currencies and commodities (FICC) has quintupled its revenues to 2.17 billion against 496 million a year earlier.

The equity ratio improved to 16% at end March 2010 against 15.4% at end December 2009.

"We are well positioned to achieve our medium term," said CEO Oswald J. Grübel, quoted in the statement.

UBS expects a gradual improvement of the results of asset management and asset management, adding that the net outflow of capital would be "relatively moderate in the coming time."