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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%.

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.

The business use of email is now widespread. Number of employees plébiscitent this tool, finding that 70% provides increased productivity, if we are to believe a study commissioned by the Australian company Dimension Data. Snapshot to contact several people at once and keep a written record, the mail seems to have installed as a means of communication in the company unbeatable.

And yet it does not benefit. Virtual, the massive use of electronic mail in particular has a tendency to dehumanize the management staff. "Some managers think they can coordinate and manage their teams from their messaging, notes Chevallet Romain, researcher at the National Agency for the Improvement of Working Conditions (Anact). But the mail does the illusion of coordination.The quality of the email exchange is no comparison with that which was in a meeting or simply between colleagues, "he says. Eric Albert, president of the French Institute for Action on stress (IFAS), reported a striking example of this dwindling trade. "You go account, it reports does one, two assistants who work in the same office send each other e-mails!". A phenomenon that is a real loss to the company. For dialogue face to face brought an emotional dimension that allows more adjustment to the other, to find compromises or to generate ideas …

A loss of 10 IQ points

The immediacy of the mall also has its downside."This permanent stress distracts the employee," Roman Chevallet analysis shows, supporting evidence, that the quality of work it is impacted, "A study of the London Institute of Psychiatry shows that go well with perpetually one task to another induces a loss of 10 IQ points, the equivalent of a sleepless night! "he says. Not to mention the stress caused by the influx of applications to which the employee is not always cope. A stress that tends to increase with the increasing demands of stakeholders, often owners of smartphones, which anticipate the responses of more and faster.

What, therefore, to use its smart messaging?

1. Introducing a hierarchy where the chronological order prevails. "It should restore priorities, stop confusing urgent and important," says Romain Chevallet.To do this, mails received may be classified according to their interest. By clicking on the flag that symbolizes a high importance, or creating files, theme, folder, or by importance. From this point of view, the mall has a definite asset. Although classified and easy to find, it can be a real list, and a database.

2. Cleaning up as and so as not to overload his mailbox and duty in the emergency delete messages surplus "with a machete. To save time, you can introduce filters that automatically redirect such unwelcome emails to the trash. Or select the messages by keyword to classify them in a folder. But be careful in this case not to lose sight of your overall messaging.Remove or archive emails as and also allows you to more easily find an important message.

3. Do not plug your mail to you, if your work permits. "The manager should set as a rule not to seek a collaborator with him," said Romain Chevallet. Especially since many employees, under pressure from management or a strong competition among colleagues, are needed to respond as quickly as possible, even to jeopardize their privacy.

4. Log out regularly. "In England, some companies have introduced a day without e-mail Wednesday," notes Roman Chevallet. Without going that far, it may be useful in order not to lose concentration, to force himself not to look at his mail every five minutes.Periods of disconnection from 1 to 2 hours can boost your productivity, provided that your manager is willing to wait this time to receive a response.

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Standard & Poor's finally penalized AREVA, judging the profitability of the group "depressed" for two years. The notes of French nuclear group, which was under surveillance by the rating agency since April 14 last, was finally degraded Monday by two notches to 'BBB +, cons A.

The first reason advanced by the agency for "the provision of 400 million euros related to the recently announced construction of the Olkiluoto 3 reactor in Finland. The further delay of the Finnish EPR, one of four currently under construction by Areva (with Flamanville in the Channel and two other Chinese), forcing the group to a new provision which would involve a negative operating result for the first half 2010. In total, the group has been provisioned 2.7 billion euros for this site should be completed in late 2012 with four years late.

S & P added that the profitability of Areva would also be affected by a "conflict" is contrasted with EDF about the Georges Besse enrichment plant, in the Drome. Both groups fail to reach an agreement to renew the contract which ensures the Areva uranium enrichment EDF.

The rating agency does have a stable outlook on the debt rating of Areva, convinced that the group should be able to implement successfully the remainder of the disposal plan and its plan to increase capital , strengthening its balance sheet.

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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.

The market for nuclear reactors following "an upward trend," according to Mitsubishi Heavy Industries (MIH). The conglomerate of Japan believes that dozens of these reactors should be located in Europe by 2030. And he does not miss the boat. The group is announcing Wednesday the signing of a letter of intent with the Spanish group Iberdrola Ingenieria y Construccion. His goal: to increase its chances of winning several bids for the construction of nuclear power in Europe. "We hope thus to accelerate the introduction of our advanced pressurized water reactors EU-APWR in European countries," MHI said in a statement.

Specifically, the agreement provides that if a contract awarded, MIH supports the manufacturing facilities and the provision of essential equipment.For his part, Spanish will be responsible to install, the grouping of devices and materials that their test. The offer of MIH is based on a pressurized water reactor of 1,700 megawatts (MW), whose rights have been designed for the Japanese market, and adapted to European standards and regulations.

MIH is not his first partnership with a European group. The Japanese already collaborating with the French Areva in a joint venture called TDD, which is developing a medium-power reactor for countries wishing to launch their first nuclear power.

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After one child, the unique apartment? The Beijing city government announced on Friday of "tough measures" to curb rising property prices, reports the Xinhua news agency. Among these measures, families will no longer buy a new apartment. The municipal authorities also prohibit banks to grant mortgages to families buying their third and well beyond. The loans will be more accessible rather than "to persons not resident in Beijing who can not prove they have paid their taxes and social security contributions in the city for at least a year," the agency details Press.

Beijing is the first city of the Middle Kingdom to announce detailed measures to tackle speculation, China Daily notes.The cities of Shenzhen (Guangdong Province) and Shanghai would also work on a plan to regulate sales of homes in the wake of measures announced by the government since the beginning of the year.

Under the economic stimulus package introduced in late 2008, priority was given to the promotion of real estate lending. Result, prices in the industry have taken a very strong upward trend, especially in large cities, Natixis said in a note. So much so that some observers suggest the hypothesis of a housing bubble.

Pernod Ricard is pleased to announce on Thursday morning, up 14% of its turnover in the third quarter of fiscal shifted to 1.54 billion euros. And rise at the same time, prospects for the entire year.

"The title should respond by increasing", predicted the analytes Natixis SecuTire this morning before the opening of the Bourse de Paris, describing the rehabilitation objectives of the company as "clearly good news." Indeed, the Pernod Ricard shares climbed 3.7%, to 65.3 euros in early trade on the CAC 40.

"The strong performance was boosted in part by favorable comparison bases and technical effects. However, this publication shows significant signs of recovery, "entrust strategists.

In home counseling Aurel, who published a note on Thursday on the group, expectations are "substantially" exceeded.The revenue expected by the consensus of 1.4 billion euros. Aurel immediately raised its target price on the value of 52-58 euros (recommendation to "hold"). Wednesday evening, the Pernod Ricard are already mounted by 2.7%, and quoted at around 65 euros. A true performance against the Wednesday meeting.

Current operating profit seen up 3%

According to the explanation of the group, good sales were due to a "strong consumption growth in emerging economies, improved conditions in some key markets like the United States and Russia, and the effects of destocking and shifts of Easter and Chinese New Year.

Pernod Ricard has therefore decided to revise upward its outlook for its fiscal year 2009/2010 with organic growth of around 3% of operating profit, at the top of the previously announced target range of 1% growth in 3%.

Debt restructuring

Last March, the company headed by Pierre Pringuet announced its successful bond issue for $ 1.2 billion. The group's debt of wines and spirits reached 10.3 billion euros at December 31, 2009.

The world number two, whose brands Chivas Regal whiskey and Havana Club rum – among others – make its fame, has set a goal to balance "progressively" 50/50 funding between bank loans and bond debt, d by 2013.The division is currently 25/75.

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If the political debate in Germany is keen on supporting Greece, no such thing in France. The Socialist Party will vote in the state next week's Budget Act that allows Paris to pay 3.9 billion euros in Athens in 2010. And this Wednesday, the hearing for two hours, the budget minister, Francois Baroin by the Finance Committee of the Assembly took place in a consensual atmosphere. "Everyone agreed it was necessary to go fast. We can not let go of Greece, especially since the effort required of his people is heavy, "recalls Jerome Cahuzac, Chairman of the PS Committee. Alarmed by the weakness of governance of the euro area and lamenting, for some, the absence of a European monetary fund, members hoped that the rescue is accelerating. "Many were disappointed that the summit of heads of state that takes place May 10," said Gilles Carrez, the general rapporteur UMP.What the minister said "it would be even more dangerous to yield to a form of precipitation.

Debate on the interest rate

The only objection was on the interest rate of 5% which Paris ready to Greece three years. The Socialists, Fran?ois Hollande and Henri Emmanuelli it was too high. But Jerome Cahuzac is more nuanced and noted that this rate is the result of a compromise between heads of state.

Still, the French government should actually earn money in the transaction, since borrows around 2.13% at five years. Baroin has been noted that the plan for Greece "is not an expense to the taxpayer! Is this why the consensus in France? "I believe above all that unlike Germany we have a culture of state intervention," said the UMP J?r?me Chartier."It is logical as German citizens, who have made sacrifices to repair their public finances, are more reluctant than the French, who were not virtuous," says the centrist Charles de Courson.

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