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Paris is burning there? This was the message last week by Century 21, one of the major networks of estate agents (850 in France). Prices of existing homes jumped 15% in the capital between the first halves 2009 and 2010. Let us all keep, replied two days later Fnaim: the trade association which brings together 12,000 independent agencies estimated up to 6.8%.

The two behemoths differ as much in their diagnoses of the French market. When Century 21 evaluates to 8.5% average increase in prices over the last twelve months, Fnaim reported an almost stagnant (+0.1%).

As regards property each looks after their own door, because nothing is more difficult to measure changes in prices of existing homes, all different from each other by definition. For its part, Century 21 invokes a simple method."No transaction is forgotten: the collection of information is done automatically from the software used when signing the preliminary contract (promise of sale)," said Laurent Vimont, network chair. Then simply compare the average price per square meter of transactions between two time periods to calculate the evolution.

Century 21 refutes the argument that sellers of "nice apartments" have retained their property during the recession of 2008-2009 winter to put them back on the market in greater numbers in the first half of 2010 when the economy restarts. That does it not distort price comparisons from one period to another? "Not because we are working on samples large enough for this" quality effect "does not play. Our transactions have focused on 23,200 units in France in the first half of 2010, with 1536 sales in Paris, "says one.

Battle figures

Fnaim whose records are also on the "promise of sale", is based on a more sophisticated methodology and relatively delicate absolutely free credit score. "We correct the observed effects of price structures, including the size, location, comfort items, etc. …», explains Nicolas Thouvenin, the Director General of Fnaim. It also boasts a high number of transactions (5000 per month), 10% of the national market.

This method is quite close to the observation model established by notaries, with scientific backing from INSEE for 20 years. Except as notaries, considered the "justices" in statistics, working on sales contracts themselves, so with a delay of at least three months.Other disability, notary fees are not legal obligation to back the information to their rooms (85% do in Paris).

The Housing Secretariat is closely following this battle of numbers. After asking the National Council of Statistical Information (CNIS) a general report on "improving statistics, real estate and construction," which was presented in late March, Benoist Appeared plans to implement some of its recommendations "from the start," says one to his office.

Notaries will now be forced to disclose all their transactions to feed price indices. And they will work on the "pre-contracts" in order to better fit the situation. The reform should come into force from the fourth quarter of 2010 in Ile-de-France and the first quarter of 2011 in the rest of the country, says one.In addition, a device "calibration for private producers of statistics (like Century 21 and Fnaim) would be operational by spring 2011. A sort of tutelage that professionals look more or less enthusiasm and skepticism.

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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 operation of rating agencies

The U.S. president, Barack Obama wrote to the Heads of State and Government of the G20 countries, who will meet on 26 and 27 June in Toronto, Canada, to inform them of three concerns: the "significant weaknesses "the private sector demand in some economies of the G20 and their dependence on exports, the state of public finances and reform of the financial system.

"I also want to stress that exchange rate determined by the market are essential to global economic vitality," wrote as Barack Obama, who is of course referring to China, which Washington believes the currency, the yuan, is artificially under -valued, preparing a showdown with his counterpart, Hu Jintao.

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European Banks Are they healthy? The question that torments the markets will soon find an answer. Indeed, European leaders have agreed to the request of France and gave the green light to publish the detailed results of stress tests (stress test "in English) which are subject garndes their banks. The 27 hoping to reassure markets worried discover surprises.

These reviews are intended to reflect the ability of banks to withstand extreme financial and economic conditions. Currently, those made at European level on a score of major banks remain confidential.Last year, only general trends were made public, including the fact that European banks were sufficiently capitalized to face a severe deterioration of macroeconomic conditions.

First published in late July

Nicolas Sarkozy has confirmed at his press conference that the publication of these tests would take place in late July as desired by Paris. Earlier in the day, Christine Lagarde, French Minister of Economy, had told Reuters: "I am very positive about this publication. There is nothing worse than the rumors and doubts about the banks. " The Minister is confident, remembering that French banks have so far yielded positive results. These displays of the solvency ratios for the time, satisfactory. In the opposite case, Christine Lagarde said the banks to recapitalize.

Madrid triggers debate

The day before, the Spanish central bank had announced the forthcoming publication of the results of these tests. The newspaper El Pais had found the ad "unprecedented in the euro area. The Madrid Institute hopes to dispel the doubts now hanging on the strength of its banking sector. The Spanish governor of the Bank believes that the current rumors greatly amplify the difficulties of the Spanish financial industry. He hopes that the markets "are fully aware of the situation in the Spanish banking system."

Banks reluctant

Further to the announcement in Madrid, the German government long reluctant, finally decided to give the green light too. But Berlin has yet to convince its banks. German institutions showed far opposed the publication of these results.

Successful tests of Moody's

The European Central Bank will also favors the publication of these tests. In the eyes of the central bank, the operation of transparency is able to reassure the markets. And regulators have reason to be optimistic. Indeed, European banks have recently passed the tests of strength by Moody's. The rating agency has increased the stress tests to thirty European banks from ten countries, and concluded that they have a level of capital sufficient to take further losses.

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.

From 1 July 2010 will require some additional documents to send a letter. The price of the stamp of the priority letter weighing less than 20 grams will increase from 0.56 to 0.58 euro, an increase of 3.5%. The economic costs will also increase by two cents to 0.53 euros.

This is the sixth increase in eight years. The price of the stamp for a letter of less than 20 grams had already earned a penny last year. But Post said she "is in the average tariffs in Europe even as the universal service commitments of the post office and geographic constraints are higher in France."

"The rising price of stamps will have a minimal impact on the household budget, or approximately 0.10 ? per month per household," the statement said.In addition, The Post said they considered the economic situation by adjusting charges for companies depending on their situation: there will be no change for major mailers and the increase will be 0.6% Small and medium enterprises.

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.

The U.S. stock market should take another step forward Wednesday. The index futures are predicting a slightly higher opening of U.S. markets. The index futures Standard & Poor's 500 index advancing 0.46% to 2033.50 points. The day the Dow Jones gained 0.23% and the Nasdaq 0.81%. In Asia this morning, the same trend with the Nikkei in particular that ended on a positive note (+1.74%).

Apple Earnings blaze

On Wall Street, the technology sector should benefit from the announcement after the stock market, a 90% surge in net income of U.S. computer maker Apple in the first quarter. Inflated by including a doubling of sales of iPhones, the company's net earnings to net apple exceeds $ 3 billion in the second quarter of its fiscal offset.Turnover was up 49% to 13.50 billion dollars.

Also in the technology sector, Yahoo! also published after the close a net profit group share in the first quarter more than doubled on a year to over $ 310 million payday loans. In contrast, the turnover has been disappointing. It increased only 1% to just under $ 1.6 billion.

On Tuesday, the financial sector, for its part, was carried by the strong quarterly results from investment bank Goldman Sachs, whose future remains clouded by fraud prosecutions brought by securities regulators in the United States and in Great Britain.The firm has more than doubled its net profit in the first three months of the year to nearly 3.5 billion dollars.

On the foreign exchange market, the euro was slightly lower Wednesday as investors watching the talks between Greek officials and teams from the EU, IMF and ECB on aid to Greece due to start Wednesday after a successful bond sale by Athens yesterday. In the early morning, the European currency was worth 1.3433 dollars against 1.3436 dollars the previous day.

Today on Wall Street, investors will monitor the traditional weekly crude inventories will be published in late afternoon.

Tereos (Beghin-Say, The Parrot), second European sugar, wants to empower his ambition of becoming a major player in ethanol, a very strong market growth worldwide.

The cooperative group, obtained in 2002 from the merger of Beghin-Say and Union SDA, announced Monday the creation of a new subsidiary, Tereos Internacional, which will consolidate its processing of cereals and sugar cane, including participation in Guarani (69%), its Brazilian subsidiary. Tereos Internacional is a Brazilian company, but she expects to be listed in Paris and Sao Paulo and raise money on both platforms. In Paris, he was one of the few operations IPO since the start of the financial crisis. "This dual listing aims to strengthen the international anchors the group" welcomes Philippe Duval, CEO of Tereos.Part of the operation will be reserved for its 12000associ?s cooperators. Tereos, advised by Rothschild and the firm Linklaters, will remain the majority shareholder. The parent retains its status Tereos cooperative is refocusing on its roots, beet processing in Europe (France, Czech Republic, Spain).One area in which the maneuvers have already taken place.

"Scaling"

The creation of a subsidiary consolidate its transformation is the result of a diversification strategy initiated fifteen years ago both in its products (starch, alcohol, ethanol, energy) as its geographical coverage (Europe, Brazil , Indian Ocean) cheap payday advance.

Tereos Internacional, which counts among its clients manufacturers like Coca-Cola, Kraft Foods and Unilever, will become a "world leader" of bioenergy and food with an annual turnover of 1.86 billion initial d ' euros. In the crosshairs of the group, emerging markets, where the potential for long-term growth markets of sugar, starch and ethanol, has something to dream about.After more than doubled since 2003, global consumption of ethanol, led by Brazil and the United States, is expected to double again by 2015.

In Brazil, the largest producer of sugar, Tereos inherited two plants Guarani upon redemption of Beghin-Say. Since then, four plants were built, making the fourth Guarani sugar in the country and number five in the production of ethanol. "We see a huge change of scale in this country," notes Philippe Duval. There, more and more cars run on ethanol. Groups such as Dreyfus and Shell, combined with Brazilian producer Cosan biofuels, broke into the country, encouraging Tereos to accelerate its development and to participate in industry consolidation.Elsewhere, particularly in Asia, the consumption of starch, which should increase by 50% by 2015.

Engaged in an active policy of acquisitions, the latest being that of sugar in the French Quarter Meeting, Tereos cautiously advance his pawns. In less than ten years, its turnover has doubled. And the president has not hidden at the beginning want to double in size within five years.

After starting the week very uncertain, Friday's meeting marks a consolidation of most Asian stock markets in a very active market with the approach of the end of Japanese fiscal year March 31.

With the exception of the Stock Exchange of Hong Kong who abandons 0.20% to 21,288 points, all major Asian markets closed the session up: Tokyo, whose flagship index, the Nikkei 225 is pressed over of 10,800 points, closing at 0.69% at 10,811 points.

From the other side areas, fire is almost green at the end: Singapore rose 0.34% to 2923 points, Bombay climbed 0.21% to 17,555 points, Sydney advance of 0.19% to 4872 points, Seoul ended up 0.59% to 3540 points and Taiwan concluded a small increase from 0.04% to 7 cheapest personal loan rates . 889 points.

U.S. indicators released Thursday had to reassure Asian markets. Only Hong Kong so this ends up on a bad note in a difficult situation between China and the United States.Chinese leaders have asked their American counterparts not to "politicize" the issue of the exchange rate of the yuan, on pain of "complicating" the situation.

Crude prices were down Friday in electronic trading in Asia, reflecting the stronger U.S. dollar, dealers said.

In morning trading, a barrel of light sweet crude for April delivery yielded 29 cents to 81.91 dollars while the barrel of Brent North Sea for May delivery dropped 26 cents to 81.22 dollars.