Yesterday the market was still tune in slow motion. The trade volume has exceeded painfully € 2 billion on the great values ​​of the Paris stock exchange. On this day of "Black Friday" in U.S. markets opened for a half session. This day, like every day after Thanksgiving, sounds the start of the race for Christmas Atlantique.Chasse addition to good affairesAprès six consecutive sessions of sharp declines, few operators present at the Paris Stock Exchange engaged in an intense bargain hunting in financials and cyclicals cash advance.Operators complain German blockages on the tasks of the European Central Bank (ECB). France advocates a more determined it to help countries in trouble. Germany refuses. Sign of the tensions still very strong on sovereign debt, the performance of the Italian debt in two years reached a new peak since the creation of the euro, exceeding 8% in session on the secondary market.

Values ​​to follow

Axa (1.67% to 8.85 euros)

Groupama considered too low prices offered at this stage for its subsidiary Gan Assurances and may delay the sale beyond the end of 2011, reports vendrediLes Echos.

Thursday, shortly after the dissemination of this false information to 3:57 p.m., the French rate on loans to ten years amounted to 3.46%, bringing the pay gap with German bonds of similar duration to a record 166 points percentage not seen since the creation of the euro.

Everyone to understand that France will soon be degraded

This Friday, at the opening transaction, rates eased around 3.36%, but markets have learned their lesson. In exchange, everyone understood that in case of deterioration in the rating of France, synonymous with loss of the "triple A", the rates of government bonds with ten years showed 3.46%, or 3 , 5%.

In this paper, Le Figaro that was provided, the controller gives the whole device flat regulated prices. He would like to begin this system to be deleted for Industrialists. Not only France is an exception, but most large companies feed on the market today and therefore spend regulated tariffs.These two reasons argue for a quick exit with respect to the CRE.

With regard to the regulated rates for individuals, the regulator is pushing for major reform. In the background, the benefit to the consumer. The CRE has accounts: only lower taxes compared to other European countries means that the regulated prices of gas in France is attractive. Otherwise, the costs of the molecule fall within the upper range in Europe. In the event of a removal of regulated prices, also under review, the regulator said that "a reflection on the evolution of social systems face the problem of cost of energy supply" should be conducted to help households more modest easy pay day loans.

Market price

Meanwhile, the CRE would like the formula incorporates a larger share of price indexation market.They are currently cheaper than the cost of long-term supply imported into France and indexed on oil. This index accounts for 90% of the price fixing. The CRE wants this share declined to 70%. Currently, there is a difference of 5 euros per megawatt hour (MWh) between market prices and long-term contracts. In early 2010, he was over 10 euros.

The CRE, which found that GDF Suez manages its supply portfolio globally, recommends that this optimization is more beneficial to the consumer. Therefore "an expansion of the scope of supply included in calculating the costs covered by regulated tariffs." In addition to the increased use of market prices, the regulator stressed the importance of liquefied natural gas (LNG), for whom Europe is a natural outlet.

These tracks will be reviewed by the government.They, who know that long-term contracts often protect the abrupt fluctuations, will also decide on the pace, currently quarterly review of gas prices.

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After attempting to rebound Wednesday, the CAC 40 has dug its losses for most of the session. He finally fell 2.32% to 3084.07 points. The volumes remain thin. About 2.8 billion changed hands yesterday on the great values ​​of the Paris stock exchange.

The atmosphere was also febrile on other major European markets, which have moped for most of the day. London finally fell 1.2% to 2.46% and Frankfurt. Of the European indices, the Euro Stoxx 50 slipped 2.47%.

The New York Stock Exchange suspended the information from Europe has also raised the red flag.In session, the Dow fell by 0.43% and the Nasdaq 1.08%.

"As we approach the top of the daily twists and turns are now" seeing specialists Barclays Bourse. Like many operators, and "face the high degree of uncertainty on the conclusions and future actions," they now prefer to adopt "a wait and observation on the equity markets."

Last-minute negotiations

The caution is on the market before the EU summit Sunday, crucial for the future of the euro area. Political leaders of the Old Continent has already promised that a solution to the crisis would be found. "Monday morning, it will take that markets are convinced that Europe has a solid plan, 'says one European official.For "no agreement, each European country will be reduced to individually play their survival."

Meanwhile, last minute negotiations are increasing. Wednesday night, Nicolas Sarkozy visited emergency in Frankfurt to meet with Chancellor Angela Merkel and attempt to resolve differences between France and Germany. But no information has filtered the meeting, leaving the door open to many uncertainties as to what measures could be announced Sunday. Some even evoked a further postponement of the summit of heads of state. Negotiations break down on how to strengthen the European Financial Stability Fund (EFSF), a key instrument to try to curb the risk of contagion to the entire monetary union.

The banking sector player in the market for public debt was once again at the forefront.Societe Generale lost 7.97% to 17 bad credit pay day loans.90 euros, Credit Agricole 6.67% to 4.66 euros and BNP Paribas 5.84% to 29.92 euros.

At the same time the fears of rancidity of the world economy, or even recession in Europe or the United States, are becoming increasingly intense. Yesterday, the Conference Board, whose composite index slowed for the second consecutive month, said the U.S. economy had an even chance of falling into recession in coming months.

New burst of publications

As for values, the Dexia (-1.30% 0.60 euro) responds to green light by the French Senate on the guarantees provided by the French state in the process of dismantling the Franco-Belgian bank.Legislators have asked, however, a principle of banking counterparties.

Casino (-0.32% to 62.74 euros) The Thai subsidiary Big C, will carry out a capital increase in an amount up to 25 billion baht (595 million) to refinance debt inherited from the resumption of Carrefour stores in the country.

Pernod Ricard (2.18% to 66.01 euros) achieved a turnover up 6% to almost two billion euros in the first quarter of fiscal year 2011-2012, according to a statement released Thursday.

Remy Cointreau (-4.03% to 56.69 euros) achieved an increase of 7.4% of its turnover in the second quarter (July-September) to 276.3 million euros thanks to an increase Sales in Asia.

STMicroelectronics (-1.43% to 5.09 euros) Its joint venture with Ericsson in components for mobile phones ST Ericsson has not yet managed to reduce its losses, recurrent, in the third quarter.

Schneider Electric (-7.61% to 41.22 euros) lowered its forecast its operating margin from 2011 to 14% after posting a turnover up 4.6% to 5.7 billion euros the third quarter.

Publicis (-5.29% to 33.05 euros) announced that he fears a slowdown in activity at the end of the year, following growth of 7.5% of sales in the third quarter, but still thinks register "Above-market growth" throughout the year.

The manufacturer of smart cards Gemalto (-4.89% to 32.90 euros), the world, published Thursday in the third quarter sales of 491 million euros, stable over a year and affected by the poor performance of mobile telephony.

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On the commercial, the brand has benefited from the generosity of telecom operators no fax cash loans.While the iPhone 4S is priced starting at 629 EUR without subscription, SFR proposed to 129 euros with a subscription. The offer was so successful that he is out for the operator. In the U.S., the iPhone 4S is available from $ 199, with a subscription Wi-Fi in three operators.

It is also difficult not to link the commercial success the emotion aroused ten days ago by the death of Steve Jobs, the founder of Apple. Testimonials from fans vowing to take their phone to replace it with an iPhone 4S in honor of its inventor had multiplied. They probably kept his word. He had never sold as many copies of an electronic device in such a short time.

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Delicate challenge

For Sharp, the bet is tricky. This is not to be the nth smartphone on the European market, running Android market segment dominated by Korean and Chinese brands. To differentiate themselves, the Japanese put on the 3D display of the phone. While it is the third, after LG and HTC to offer a device with such a characteristic. But only the Aquos almost instantly converts 2D images into 3D personal business card.It is also equipped with two optical, which can take photos or videos in 3D and then watch them on their smartphone, or share them on other screens in relief.

Abandonment of the shelf

On a strategic decision to Sharp raises some questions. The brand has announced the abandonment of its shelf Galapagos there just two weeks. But it also reflects the key role of the smartphone market for players in consumer electronics. To exist, they can not do without. Even if only a very symbolic presence. Orange has only ordered 10,000 copies of the Aquos, probably made prudent by the very small success of the 3D Optimus LG and HTC Evo 3D. Sharp will make us forget the bad reputation of free 3D, even on small screen, according to users, giving a headache and seasickness

The dissenting voice of the German finance minister

But Christine Lagarde acknowledged that differences still exist between the IMF and ECB experts on the methodology to achieve the quantification of the capital requirements of banks.The final decision of the IMF should be in the final report, whose publication is expected by the end of September. The difference analysis between the IMF and the Europeans based in part on how to account for the value of government bonds of countries at risk in banks' balance sheets payday loan lenders. The former are open to the idea of ​​using their market value, while the latter prefer internal models are less sensitive to changes in short-term securities.

Meeting in Marseille on Friday and Saturday, finance ministers from the euro zone wanted reassurance on the European banking system, swearing that he will not go bankrupt. All? Not a voice was more concerned desired. That of the German finance minister, Wolfgang Schäuble, who would, according to Spiegel, already developed a plan to prevent the bankruptcy of Greece.That should not reassure the financial markets the Cac 40 lost a quarter of its value in two months going over under the 3000 points – while a crucial week promises to Greece and the euro area.

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If the side of the campsites and reservations, guests are against bad situation, some do not hesitate to leave earlier than expected their holiday destination in search of sun. And those who remain beyond the rain and wind in places covered plebiscite. At the Caen Memorial for example, there are on average between 2000 and 2200 visitors a day since the beginning of July, against 1500 to 2000 "when the summer is warmer," says commercial director of the museum, Jean-Yves André.Nothing exceptional about this, given the fall weather that has prevailed since the beginning of the region on the landing beaches.

Children first

At the Maison de la Baie de Somme and Bird, where the weather has not been more generous with the holiday, attendance has more than tripled this week. Finally, even in Paris where tourism is not under the influence of the whims of the sky as the Tourist Capital, activities evolve. Less than riding a bike or on the banks of the Seine, and visits to exhibitions or shopping, despite a record of disappointing summer sales.

Finally, attendance at museums in Paris have risen on average by one third. As to the aquarium in Paris, where 3,500 people come daily to visit the giant basins close Trocédéro, about 30% more than normal.Attendance supported by the young audience which is addressed much of the aquarium. During holiday periods, children are indeed part of the leading contributors to the increase in museum attendance, particularly in bad weather. The question is whether the phenomenon will last. With the return expected in the middle of next week to warmer weather and summer, probably more tourists find the pleasure of swimming and other meals on the terrace.

Despite these humble beginnings, the company hopes most luxurious increase its visibility in Asia with the regional listing. Sales of luxury products are doing very well in this part of the world. China weighs more heavily, representing the second largest market behind the United States and ahead of Japan. The industry shows growth rates of nearly 25% annually in the Middle Kingdom.A trend expected to continue at least over the next five years, analysts said. The consulting firm PricewaterhouseCoopers expects that China will become the first market in the world by 2015. The sign of Milan also provides a major expansion plan throughout the Chinese territory in the years to come.

Prada is not alone in courting the Asian markets since the stock market. Burberry and Coach American also announced their intention to rate in Hong Kong. Prada's performance will be regarded as a test for the Asian market place, where Samsonite has recently disappointed by losing 11% on the day of its listing on June 16.

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It is now the strongman of the government just revamped George Papandreou: Evangelos Venizelos. Imposing, talkative and impulsive, professor of constitutional law of 54 years did not mince his words when entering his new office as Minister of Finance: "I left the Department of Defense to enter a war", has he said. And for good reason, this war is that of the economy. He is determined to carry out reforms and has a good chance to convince members to vote in favor of the second austerity plan on 28 June. Observers say it is the ideal person to mitigate the discontent within the party.

The entire political class recognizes Evangelos Venizelos his intelligence and his status as a pillar of the new government.Gathering his majority was a priority to calm the ardor of the critics of the Greek Prime Minister.

But for some experts, this man from northern Greece be too wet to agree with the Europeans. "It is the one who said the Council of Ministers last week, the country was under occupation administration. How Brussels will trust him? "Assen there be in the ranks of the Conservative opposition. For political analyst Giorgos Kirtsos, "Evangelos Venizelos wants to be Prime Minister. It has a very social discourse and is highly regarded by the barons of the press. He will use his gift as an orator to get the reforms in the population, "said he personal business card. "When he was at the Ministry of Development, he has managed the beginning of the privatization of the Greek electricity utility by arranging their own way.Now, decisions are more difficult, especially since it's not a reformer, "says Giorgos Kirtsos. The new "czar of the economy" as it is called the Greek press has an agenda of the busiest on the European stage. He will travel to the meetings of the Eurogroup and has make a difference with his predecessor, Giorgos Papaconstantinou, became Minister of the Environment.

Control social discontent

According to Petros Doukas, an economist and former Greek finance minister, Evangelos Venizelos must quickly make proposals to the Europeans to save the country from bankruptcy. This could be a takeover of the Greek debt, "which currently is sold off at least 40% on the secondary market," said he. "Once acquired, they can erase part of our debt and other loan us again as a loan at 4% for twenty-five years.This is the ideal model for the second funding of 100 billion euros, "explains the former Conservative minister.

Meanwhile, Evangelos Venizelos will also control the rising social discontent in the country, especially as the indignant and unions are willing to take it a turf war without thank you. Rallies and demonstrations are scheduled from Sunday until Friday next European Council.