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The CAC 40 is the caution on Friday. After an opening in the red (-0.12%) followed by a brief stint in the green (0.24%), the benchmark index of Paris back into negative territory just over half an hour after the start Session: -0.11% to 3647 points. The markets are waiting game: the first estimate of U.S. GDP in the second quarter will indeed be announced this afternoon across the Atlantic. This Friday in Asia as investors remained on the defensive.

Besides GDP, the U.S. will publish the index of consumer sentiment and Chicago PMI. In Europe, German retail sales and GDP of the area will also be published.

But it was the positive interpretation of the many important results published before opening behind the rating.

Publication Burst

Alcatel Lucent (6.38% to 2.20 euros) announces revenues of 3.813 billion euros in the second quarter.The group reiterated its outlook for 2010, including an adjusted operating income of between 1% and 5% of its revenues.

JCDecaux (+0.35% at 19.94 euros) on Friday announced a net profit in the first half of 65 million euros. The group anticipates a change in organic revenue for the third quarter less than that of the second with a cash flow of 119 million euros, compared with -1.7 million euros in the first half.

Lafarge (-3% to 42.18 euros) has reported a sales increase of 2% to 4.43 billion euros in the second quarter. The company expects a reduction in capital expenditure to less than 1 billion euros in 2011.

EDF (2.02% to 33.12 euros) announced a net income Group share 1.7 billion euros including a provision for $ 1.1 billion on its North American operations.The group, which should sell its UK electricity networks based on an enterprise value of over 5.5 billion pounds, has announced a delay of two years for his BDU Flamanville.

EADS (4.38% to 18.35 euros) announces a net profit in the first half of 185 million euros and a turnover of 20.3 billion euros.

Schneider Electric (2.51% to 88.57 euros) publishes a turnover of 8.57 billion euros in the first half (+10.5%) of which 4.661 billion (+18.5%) in the second . In an interview with Le Figaro, Jean-Pascal Tricoire, CEO, set an improvement for the second part of the year.

Renault (+0.16% at 33.07 euros) issued a revenue increase of 23.1% for the first half like for like identical, to 19.668 billion euros. The constructor returns to the green with profits of 823 million euros.

The reaction of Peugeot (-0.80%) is observed.Still in the automotive industry, Michelin (0.62% to 59.72 euros) announced a net profit in the first half and said it expects a continued rebound in demand for tires in the second half of the year .

PPR (-0.24% to 102.10 euros) announced a net profit after minority interests rose 86.8% to 407 million euros in the first half.

Imerys (2.01% to 45.36 euros) has reported a net operating income rose sharply to 122 million euros in the first half with a turnover of organic growth of 16%.

Total (2.09% to 39.15 euros) announced adjusted net income for the second quarter of 3 billion euros, up 72%.

CNP Assurances (-1.12% to 15.92 euros) has issued a net increase of 8% to 542 million euros and a turnover of 17.697 million euros (+2.4%).

Rhodia (2.98% to 16.22 euros) raised again after its 2010 targets announced Friday results exceeded expectations in the second quarter.

Saint Gobain is optimistic

Saint-Gobain (+0.02% to 33.3 euros) has reported a strong rebound in its first half results, while confirming its target of strong growth in operating earnings in 2010.

Capgemini (-0.59% to 36.13 euros) has announced the acquisition of the Swedish IT services Skvader Systems. No financial details were disclosed.

Air Liquide (-0.75 to 85.45 euros ù) has announced the acquisition of the company Lion Copolymer Geismar American Services. No financial details were disclosed.

Euler Hermes (4.92% to 61.39 euros) has reported net profit more than doubled in the second quarter from the first and said he intended to maintain profitability in an environment more favorable macroeconomic that over the past two years.

Ingenico (3.68% to 19.15 euros) on Thursday posted a net profit increased more than two in the first half thanks to increased transactions in Europe and raised its sales target.

Alten (1.43% to 22.71 euros) has reported a slight improvement in activity in its sector in the first half. Turnover rose 2.7% to 450.9 million euros over the period.

Flo (0.65% to 4.63 euros) said that the activity in its restaurants had not yet regained the level that was hers before the crisis, despite the reduction in VAT.The turnover of the group stood in the first half rose 7.6%.

All sorts of people need fast cash though are unwilling to compromise on interest rates. Naturally, the lower the interest rate, the better. Low rate payday loans are easy to access thanks to the Internet.

Texas Instruments (TI) makes a strong second quarter. The U.S. manufacturer of electronic components announced after the close of Wall Street on Monday, having tripled its profit in the period. It reached 769 million dollars against 260 million a year earlier to the same period, an increase of 196%. Per share, this equates to a net profit of 62 cents, in line with analysts' consensus.

Revenues climbed 42% year on year to 3.496 billion dollars and 9% versus the first quarter. "Our activities have included analog chip and reached a double digit growth compared to the previous quarter, rising faster than the market average", says CEO Rich Templeton.

However, the announcement disappoints Wall Street. In exchange after exchange, securities fell by 5.64% to 24.11 dollars my credit score.Indeed, analysts projected a turnover of 3.52 billion. In a conference call, TI said that the turnover of the second quarter was affected by the decision of a major mobile client not to replenish stocks as much as expected.

For the rest, the group is optimistic. It expects a turnover of between 3.55 and 3.85 billion with earnings per share between 64 and 74 cents. It ranges over observers who rely on a turnover of 3.59 billion for earnings per share of 64 cents. "Orders were strong this quarter, the backlog has increased and we expect further growth of our revenues in the third quarter," he assured Rich Templeton.

Diplomatic relations between Switzerland and Germany could still suffer. After the controversial purchase of a CD from Switzerland containing lists of suspected tax evaders in Germany launches massive search operation in the German subsidiary of Swiss bank Credit Suisse. Objective: to update the 1100 alleged customers of the bank suspected of evading taxes, and employees of the bank suspected to have helped.

The raids took place simultaneously in 13 cities and were conducted by 150 officers. Credit Suisse, which remained silent on the subject, has finally reacted by saying "cooperate with the authorities." "This is an ongoing investigation, so we can give more information," says the facility.

Unsurprisingly

Since March 19 this year, the Dusseldorf prosecutor's office suggested that he was investigating cons these clients in the fight against tax evasion carried out by the government. The purchase of the CD has already led almost 12.000à denounce himself, according to last count, in late March.

Credit Suisse is not the only Swiss bank in the sights of German authorities. UBS industry leader, is also subject of an investigation, not prosecution, but the authority of financial sector supervision Authority (BaFin).

Negotiations stalled

These searches involved in full discussions between Bern and Berlin on improving the exchange of information between the two countries payday loans in 1 hour. Both governments wish to reach an agreement that also aims to avoid double taxation.

In late March, the finance ministers of the two states signed a convention in this sense, but it is still not signed. Both governments face difficult issues such as control of German assets placed in Switzerland. A working group has also been mandated to expand the proposals and make findings in the fall.

Meanwhile, the convention is not in force, allowing Germany to put pressure on Swiss institutions. The spokesman for the German Finance Ministry wants yet reassuring: "We assume that the negotiations with Switzerland will continue to be constructive and to unfold in an atmosphere of mutual trust." He says they will, if successful, to "render obsolete" files using File Swiss bank clients stolen and resold.

The German technique is the same as that adopted in respect of Liechtenstein. In 2008, the Secret Service had bought a CD of stolen banking data, to 4.2 million euros. Having conducted several surveys, they managed to uncover many fraudsters, including the former boss of Deutsche Post, Klaus Zumwinkel. Under pressure, Liechtenstein was finally ratified an agreement on exchange of information on German assets located within the principality.

Remy Pflimlin candidate Nicolas Sarkozy as president of France Televisions, and knows his records showed yesterday at his hearing before the Conseil Superieur de l'Audiovisuel. His hearing before the 10 advisers on the Quai de Javel lasted half past two which nearly half past one of a set of questions and answers fed.

For candidates, two strong expressions dominate his mandate: "To provide programs and quality information for all and on all screens" and establishing "a bond of trust with the viewer citizen." This is to make a difference with the private television, he said, "is addressed, it, to consumers.""With the abandonment of advertising that allows us to contact the citizen and not the consumer and thanks to digital, we can offer an open television and inspires confidence."

Remy Pflimlin identified four key priorities in terms of programs. In order to defend the French production, he first insisted on the need for innovation in French fiction. For him, it is essential to develop new formats. It intends to increase "the time series and soap operas all day develop that are specific to strings.

For him, "it is essential to intervene very early and be able to finance the audiovisual writing. Similarly, he wants to develop the documentary. While paying tribute to his predecessor, he intends "to expand to new topics such as history and science."Also in line with the previous team, Remy Pflimlin continue "the diffusion of the performing arts. But the next president wants to "give emphasis to contemporary.

Strengthen the identity of channels

Finally, in terms of information, who has been a media owner wants to return to the fundamentals of "a group with 2,000 journalists." "At a time when our citizens are subjected to a constant flow of information, we must allow them to find the references in terms of rankings and explanations of the latter. We must not fall into the trap of the Internet by example and participate in the race. It is not only the credibility of our editors, but of the entire company. "However, he stressed the need" this information and logs run on all screens.That means to move the organization of editors.

For Pflimlin Remy wants to put digital at the heart of its strategy. "France Televisions has taken a little behind in its offerings, but also in exchanges on social networks. Yet more than 10 million of our fellow citizens consume television wrestling TV. It must therefore be given the opportunity to enjoy our programs on all the screens and that of the reaggregate their choice. "

As such, it has announced the appointment of a controller that will define digital, personally, a strategy for the group. This area such as fiction and documentary should be rare, enjoying a transverse direction, apart from general services.For in terms of organization, Remy Pflimlin intends to restore "a bit like Radio France principals embody the antenna channels and will have a strong autonomy in terms of programs." Its purpose is to strengthen the identity of channels: France 2 to be the chain of events, France 3 and RFO those of nearby, while France remains one of four innovation and France 5 that of decryption.

Moratorium on Economy

The changes in the organization has implications for social dialogue. "We must go to the essential," he said. "That is to say, first determine the objectives for the company and think about the business, organization of work and equal representation based on them." Thus, the future president of France Televisions will take time to reforming the company.For this, it says it wants to build on existing teams in place "and" indisputable retain professionals in their careers. "

Finally it is prudent on the financial issue and falls within the framework of the law which provides for the extinction of advertising. In this case, it does not advocate "for the increase in the fee. Otherwise, it will ask a "moratorium" for France Televisions to keep its advertising.

The one that Sunday was a "very very big niche tax" that deserved a helping hand plane finally spared. Baroin, Budget Minister returned to his whims and confirmed on Wednesday in an interview to Le Parisien / Today in France that the government would not reverse the reduced VAT rates for restaurants given a year ago.

"This measure is maintained" said the mayor of Troyes. "If it must be questioned, the debate will take place during the next presidential election," he added.

10 billion savings

It must be said that the budget minister no longer had much choice. Tuesday morning, his minister, Christine Lagarde, had hammered on RMC and BFM-TV that the reduction in tax loopholes would not affect the VAT at 5.5% of restaurant owners.Baroin will have to find other niches planing to recover 10 billion euros economy expected by 2013. The minister on Wednesday gave few tracks a bit fuzzy.

Besides the movement of the plane 10% on tax loopholes previously announced, it confirms the non-replacement of 100,000 civil service posts (3 billion savings), reduced operating costs (2000000000), the reduction of lifestyle State … Baroin explains that this is the second round of general revision of public policies.The first, launched in late 2007 as it would have to generate 7 billion euros.

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"The idea that the austerity measures could cause stagnation is incorrect", said on Thursday Jean-Claude Trichet. In an interview with Repubblica, the president of the European Central Bank (ECB) is opposed to all those who, like Barack Obama, say that plans to reduce public deficits adopted in Berlin, London or Paris, will kill the recovery in the egg.

The U.S. president has sent a letter last week to warn his European counterparts against a premature withdrawal of stimulus policies. It will look this weekend at the G20 summit in Toronto, to convince its partners to soften their plans rigorously.

Wolfgang Schauble, the German finance minister, told him Thursday morning in an article signed for the Financial Times. "Germany knows its responsibility towards global growth," he told the British business daily."Our contribution will be through a role as an anchor of stablity and not digging the debt."

Unlike Bush, Trichet argued that "under present circumstances, policies inspiring confidence will strengthen and not hinder the economic recovery because trust is a key factor today." In this regard, we welcome the German example, "he added. Berlin has presented an austerity plan of 80 billion euros over four years. Italy, following his example, is on the right path, according to the president of the ECB.

The ECB estimates that the eurozone is "within an environment (…) unusually high uncertainty" as stated by Jean-Claude Trichet during his last press conference, June 10"The degree of uncertainty and the level of growth is not writing, it also depends on us." And so, in part, plans rigor that should reassure markets.

However, the billionaire investor George Soros has spoken out against the plans of rigor at a conference on the euro in Berlin, Wednesday evening. They provoke a cycle of deflation (falling prices and slow growth) which will endanger the European project, by the American. A threat that does not believe Jean-Claude Trichet: "I do not think that such risks could materialize, inflation is well anchored."

The European Central Bank has revised down growth for 2011 in early June, as many economists believe that consumption will be greatly diminished because of plans to reduce deficits.The ECB now expects growth in a range very wide ranging from 0.2% to 2.2%, against 0.5% to 2.5% previously estimated.

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This is a total war being waged now Google and Apple, opening the front lines in all areas of mobile Internet. Mobile advertising terminals via the operating system and applications, the giant online research and computer manufacturer will not release one ounce of ground to their opponents. That's why Google, who made a fortune during a decade in marketing advertisements on its search engine, is preparing to start selling music online.

The Dow Jones is expected to open up 0.67% at 10,206 points. The index futures are predicting a slight increase in opening of U.S. markets. Shortly before the opening of Wall Street, futures on indices Standard & Poor's 500 and Nasdaq 100 advanced 0.76% respectively at 1093.30 points from 0.65% to 1854.50 points.

Caution remains the watchword. The statistics emerged mixed Friday, with an index of consumer confidence than expected for the month of June, but the announcement of an unexpected decline in retail sales in May The Dow Jones closed up 0.38% at 10,211 points while the Nasdaq gained 1.12% to 2243 points.The three major U.S. stock indices ended the week in the green since the S & P 500 closed with a gain of 2.5%

In this session of transition marked by an agenda very quiet and a euro that has just crossed the $ 1.21 mark, investors could resume, however, slowly, some appetite for risk, encouraged by the improving market Asian and good consumption figures published last week in the United States.

Real estate, consumption and inflation on the agenda

They eagerly await the remarks on Wednesday held Federal Reserve Chairman Ben Bernanke on financial sector reform.We know already that the crisis of sovereign debt in Europe has pushed the timetable of the next Federal Reserve decision affecting its basic rate, as provided Monday James Bullard, president of Fed St. Louis.

Before that, the functions of building permits (Tuesday) and housing starts (Wednesday) will be monitored closely. But these indicators should have a real strong correction with the end of the tax credit.

On Wednesday, the industrial production should instead show strong growth for the month of May, while producer prices (same day), then consumer prices (Thursday), should confirm the absence of inflation United States.

Shortly loaded results, the agenda will be dominated by Wall Street setting CBOE Stock Exchange, the last U.S. platform independent.The price of the introduction should be provided on Monday night.

In addition, FedEx (Wednesday), the cruise Cardinal (today) and Best Buy (tomorrow) will publish their quarterly results.

Moreover, the U.S. administration is stepping up its action against the British oil and wants to confiscate the group dividends. A threat to the stock.

The Awards have finally found the way up. The CAC 40 has changed course several times in the morning to finally get its act together in the afternoon, encouraged by Wall Street. After six consecutive sessions in the red, the CAC 40 advanced 1.96%, to end the session at 3 446.77 points, a turnover of around 4 billion euros.

Other major European markets have also hoisted the green flag. In Frankfurt, the Dax gained 1.98%, and London, the Footsie has won 1.15%. Even mood on Wall Street, where the Dow Jones gained 1.16% and the Nasdaq 1.66% shortly after the close of European stock.

On Wall Street investors were awaiting the publication of the "Beige Book" of the Federal Reserve (Fed), the U.S. central bank, a snapshot report of the U.S. economy.As expected by analysts, the report confirmed a rise in economic activity, but no sign of inflation, reinforcing the idea that the Fed is in no hurry to raise interest rates.

Exports leapt chinoisent

They were also awaiting the speech of Fed Chairman Ben Bernanke, who was to testify before the Budget Committee of the House of Representatives in the afternoon quick pay day loan. Unsurprisingly, Ben Bernanke has confirmed the speech he gave Monday saying that the economic recovery appeared to be "solid" in the United States.

More good news for the markets, a senior Chinese official, the country's exports have jumped by about 50% in May compared to same month of 2009. This figure should be officially released Thursday pushed Asian stock markets Wednesday.If confirmed, it would exceed by far the expectations of analysts who expect an increase of just over 30%.

In Paris, the other major stock markets, investors were engaged in an intense hunt for bargains on financial and cyclical stocks.

Societe Generale, Arcelor Mittal or ST Microelectronics were among the highest increases of ACC 40.

The addicted to gambling who resisted the temptation to bet online, on the grounds that the practice was not authorized in France, will be able to satisfy their passion.

According to the decree published in the OJ, the Regulatory Authority online games (Arjel), a specially created, issued 17 licenses, or "amenities" to 11 operators of online games to start from the Paris Global South Africa (June 11-July 11).

The Arjel had received 25 cases corresponding to approximately 35 applications for approval paris sports, horse or Poker. A figure that has evolved steadily, because there is no deadline for submitting applications. One thing is certain, there will be poor candidates because half of the applications have been reviewed by the Arjel. Moreover, the opening of online poker games has been delayed a month because of an obstruction of Malta.

"The educational services are not idle," says Jean-Francois Vilotte, Chairman of the Authority. A number of candidates will not obtain approval immediately, because they are incomplete, we need additional information or have been filed later. "

The Official Journal that published earlier in the night his decree, the lucky few can enter. Provided, said Jean-Francois Vilotte, that computer systems (including safes) are operational and that the game software have been certified by the Arjel.

Like its competitors, Philippe Germond, CEO of the PMU is in the starting blocks. "I feel like the boss of a shop where the shelves are ready, as sellers, there is more than the curtain open," says he.The first operator in Europe paris horse wants to be present on the fifteen licensed sports, from football to rugby to tennis, judo and rowing. He filed his May 18 request for approval for paris horse, and sports of poker. A pad 7400 pages!

Among the operators concerned by the decree, we find also the PMU, the French or Unibet Games, Beturf, BES SAS.

The competition will be difficult. All applicants expect a rapid concentration of the market. Philippe Germond table 4-5 major groups in Paris and a little more sport in poker. Starting from zero, Barrierepoker is 20-25% market share within five years. Marc Simoncini, 20% shareholder Winamax, a site 100% poker is more ambitious. "We want to stay in the top three poker sites in France, says he.I am convinced that those who succeed are the pure poker players. "

Setback to illegal sites

The success of the liberalization of gambling will depend on the state capacity to fight against the multitude of sites which remain outside the law by not asking for approval to the Arjel. They are 25,000 in the world, including 20% in French. On Thursday, the European justice has inflicted another blow. Two licensed operators in the UK, Ladbrokes and Betfair, invoked the freedom to provide services in the European Union to assert their license with the United Kingdom, they could market their offers in the Netherlands. The Justice has confirmed that it was legitimate for a country to ban them, to combat fraud and protect consumers.