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The Paris Bourse is trying to make a new step forward. After three sessions of rise, the CAC 40 opened down. He then went up the slope ahead of 1.04% to 3058 points mid-session.
Operators welcome the announcements of leading finance ministers of the euro zone, Jean-Claude Juncker, made in the night. The latter warned that the Financial Assistance Fund (EFSF) would reach "probably not" the one trillion euros, as had been promised after the crisis summit last October. "The conditions have changed" in the financial markets, he said.
The euro area is turning to the IMF, whose resources should be increased "through bilateral loans" to the institution of Washington "could have adequately the same firepower as the EFSF and cooperate with him in an even closer, "said Jean-Claude Juncker credit reports free.In the process, BNP Paribas advance of 0.91%, 1.44% of Credit Agricole and Societe Generale 0.38.
Laurent-Perrier (4.96% to 68.75 euros)
The group announced on Wednesday champagne avoirtriplé profit in the first half of fiscal year 2011-2012 (ending September 30) through its exports and that he intends to remain cautious about the whole year because of economic context.
Publicis (-0.06% to 33.34 euros)
Maurice Levy, 69, was extended for four years as Chairman of the Corporate Executive Board advertising.
Bouygues (-0.36% to 23.30 euros)
The construction group Bouygues said Wednesday it has awarded two contracts for a combined total of nearly 160 million euros for the construction of residential buildings in Singapore.
Euro countries, including France and Germany plan to push a few days at least the Euro Summit in Brussels originally scheduled for Oct. 18, according to European sources consistent.
This is to give a little more time to the development of the answer "global" announced this weekend in Berlin by Nicolas Sarkozy and Angela Merkel. The European Council President Van Rompuy must specify the new calendar in the day, according to his entourage.
'Global response'
In Berlin, the President and the Chancellor had foreshadowed the shift by promising "sustainable solutions, comprehensive and fast before the end of the month."They also kept to define the contours, which allows to believe that the agreement is to be locked at seventeen if not two, on the key points: the recapitalization of banks and the role of the European stabilization financial, finding economically viable treatment for Greece and modification of European treaties in order to strengthen collective discipline.
Europeans to revise their copy, just three months after concocted, July 21, a plan intended to resolve the crisis in Greece and curb its spread to Italy or Spain. It has not yet been adopted by all Seventeen. The vote of Slovakia, with a coalition divided on the subject may become paralyzing veto and the euro area.
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The French, Belgian and Luxembourg governments announced Sunday mid-day they had found a solution for the bank Dexia, about to be dismantled. "The proposed solution, which is also the result of intense consultations with all relevant partners, will be presented to the Board of Directors of Dexia which is responsible for approving proposals", they said in a statement, without giving more details on how they have learned.
Sunday morning, Finance Minister Didier Reynders has indicated in an interview to the channel RTBF, as Belgium does not redeem all of Dexia Bank Belgium (DBB), the Belgian entity of the bank on track to be dismantled. "The state will rise sharply in power. If we were 100% (in the capital of Dexia Bank Belgium), I do not rule, we do not intend to stay indefinitely.This does not mean that we will stay three months or six months, "he said.
Given the scale of the debt crisis, "I do not exclude that in three years, five years, maybe more, we are still present" in the capital of DBB, the retail banking business of Dexia , said the minister.
The pattern of the decommissioning of the Franco-Belgian bank Dexia today favors nationalization of the Belgian entity and the creation in France of a new bank dedicated to local communities.
Board in 15 hours
The board of Dexia, the first victim of bank debt crisis in Europe, will meet this Sunday at 3:00 p cash advance no fax.m. (1:00 p.m. GMT) in Brussels, said a spokesman for the institution.
It will have to decide on the decisions taken by France and Belgium to break up the Franco-Belgian bank, in big trouble.A meeting will be held in Brussels between pre-Yves Leterme and François Fillon, the Prime Ministers of Belgium and French, in an attempt to complete the dismantling of Dexia.
The meeting between the heads of government must be "at lunch", told AFP a source close to the negotiations. However, no details were provided on the venue.
A Luxembourg delegation will also be present during these exchanges, while an international investor has manifested itself this week to resume the Luxembourg branch of Dexia present in the retail banking and asset management."We are ready to enter the final stretch of negotiations," said Saturday night the Belgian Prime Minister in charge of current affairs, following a limited cabinet meeting devoted to the case Dexia.
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After Societe Generale and BNP Paribas, is the turn of Credit Agricole announced asset sales. The bank is expected to formalize the announcement today confirming the information in the Financial Times published on Wednesday that does not specify the amount that could take these asset sales.
Particularly exposed to the crisis in Greece with its local subsidiary Emporiki, Credit Agricole, was downgraded by one notch Mood'ys ten days ago, as its rival Societe Generale. By reducing the size of its balance sheet, the bank may, mechanically strengthen its financial soundness. BNP has already announced plans to reduce by 10% the size of its balance sheet by the end of 2012, while Societe Generale provides 4 billion of asset disposals.
This is also seeking to sell its stake in Newedge, the joint venture of Societe Generale and Credit Agricole specializing in derivatives low fee payday loans.According to a source quoted by Reuters, the bank will also consider transfer SGSS, its management subsidiary titles, but no decision had yet been taken.
Reorganization in North Africa and the Middle East
Tuesday, the head of Crédit Agricole in the UAE had told Reuters that the bank had closed its merger and acquisition in North Africa and the Middle East. "We want to focus on areas where we can create value for our customers," he said.
At the Paris Bourse, the Crédit Agricole yield 1.04% to 5.134 euros after climbing 13.10% yesterday, amid rumors of measures to support the banking sector in the euro area.
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From our correspondent in Berlin.
The green wave that swept across the Rhine after the disaster atomic Fukushima is a capitulation to the first industry group. The German industrial giant Siemens has given up on Sunday at his activity in the nuclear dead end since it considers the abandonment of the atom civilian in Germany. While Berlin has decided to close the seventeen German nuclear power plants by 2020, Siemens decided to enroll in the federal government's strategy and to strengthen further in the field of renewable energy.
"Chapter nuclear ended for us," said Peter Löscher, CEO of Munich, the weekly Der Spiegel. "We are more involved in the total management of the construction of nuclear power plants or in their financing.In the future, we will continue to deliver conventional parts, such as steam turbines (…), found also in the central gas or coal, "he said.
After the emotion aroused in Germany by the catastrophe of Fukushima, the German government decided in March to immediately stop the older reactors and then condemn others by 2022. "That changed things for us," acknowledged Löscher. Prudent, he was one of the few in Germany in 2010 not to sign an open letter from the heavyweights of the German economy demand a longer duration of use of nuclear power plants. Löscher called a "project of the century" turn energy taken by Germany. And he considers attainable goal to move to a 35% share of renewables in the "mix" German in 2020.Siemens, diverse group in the transport, household appliances or medicine, is already a world-class champion in wind energy.
The decision seems even more logical that Siemens has never been lucky in nuclear energy. In 2009, the Munich group was forced to announce his break with the French nuclear group Areva and sell its stake, amounting to 34% of shares in the subsidiary Areva NP reactor. Sued for breach of its contractual obligations, Siemens was ordered to pay 648 million euros of interest to Areva.Unable to further develop this cooperation because of political opposition on the part of France, Siemens had preferred to turn to Russia and had begun discussions with Rosatom in March 2009, in a context of international nuclear renaissance.
Bill up 10%
Sunday, Löscher also bury the proposed joint venture with the Russian public group in the Rosatom nuclear. "Both groups are still very interested in a partnership. But it will focus on another area, "he added.
The abandonment of the German nuclear announced dealt a severe blow to major energy companies across the Rhine. While their foreign competitors reaping profits, E. ON and RWE, the two main operators of nuclear power, have announced plans for cost savings and layoffs.Germany is now reduced to importing nuclear energy produced under safe conditions, in neighboring Czech Republic. Result: the energy bill has increased by 10% in a few months.
From our special correspondent in Wroclaw.
The Europeans hoped "a dialogue between friends," the Americans had "no arrogance." Las. With the destabilization of markets and growing concern on both sides of the Atlantic, the U.S. Treasury Secretary, Tim Geithner, could not resist lecturing his seventeen counterparts in the euro area gathered Friday to Wroclaw (Poland).
The relief provided by five central banks – including the U.S. Fed – banks in the euro area will not long concealed the absence of concerted policy response to the crisis. On behalf of the Europeans, the President of the Eurogroup Jean-Claude Juncker declined projects Tim Geithner, citing "differences in approach with our American colleagues."Treasury Secretary, he has put his finger where the euro hurts: he publicly expressed concern "of the conflict between governments and the European Central Bank," a week after the sensational resignation of the Chief Economist of the ECB .
Barack Obama's America, soon launched a presidential campaign, fearing a collapse of Greece, a contagion to European banks and a possible fracture of the euro area. If the crisis deepens, it is the U.S. economy would suffer the backlash, shock reverse of that which had hit Europe after the collapse of Lehman Brothers in 2008.
The first message in Washing-ton is to push the Europeans to speak with one voice and act decisively. "Governments and the Central Bank should work together (…) to avoid catastrophic risks for financial markets," said Treasury Secretary.And he insists, denouncing the cacophony that destabilizes the common currency: "Everyone should also abstain from loose talk about the end of the euro area." Targeted: the proponents of expulsion from Greece …
Denial of a tax on financial transactions
The unprecedented invitation launched by Poland – host country because currently presiding the EU – Timothy Geithner had anything to embarrass, in turmoil, the finance ministers of the euro. We saw Baroin host the head of U.S. Treasury of a strong handshake in Wroclaw. But the Euro has carefully kept at a distance. He has not formally participated in the circle, but a "preliminary conversation" about an hour. Contrary to custom, he did not sent to journalists.To tell his truths to Europe, he preferred an audience of bankers in another part of town.
Some did not take gloves to say that Europe has no lessons to learn. The United States, collapsing under the deficits should put their own house, says the Belgian Didier Reynders. "America has nothing to dictate when the person refuses flatly our suggestions," added the Austrian Maria Fekter. It is true that Tim Geithner repeated Friday his opposition front to the tax on financial transactions carried to Paris, Berlin and Brussels.
Decisions deferred
For the second time in eight days, Treasury Secretary left Europe empty-handed. Friday, the Europeans have made a face at her suggestion to "leverage" means the EFSF, the bailout fund for countries of the euro in difficulty."This is not a subject that is discussed with a country outside the EU," Jean-Claude Juncker meant. Same end of inadmissibility of the American idea of supporting the growth of public funds "even a donkey does not stumble twice on the same stone, 'says Didier Reynders, convinced of the urgency to fight first against the deficits.
For the Americans as to Europeans, the European event in Wroclaw ends with a disturbing sense of incompleteness, even for emergencies. The Eurogroup has pushed to mid-October a decision on payment of 8 billion euros to Greece. He did not reach an agreement on guarantees that Finland requires Greece.
The U.S. equity markets finished the session lower as investors showed disappointment with the Fed's proposals to end the crisis. The Standard & Poor's 500 and Nasdaq 100 and retreat of 1.06% in 1185, and 88 points from 0.78% to 2529.14 points. For its part, the Dow Jones lost 1.04% to 11,296.24 points.
U.S. investors have expressed disappointment with the speech elusive Ben Bernanke, the chairman of the Federal Reserve, the attitude that the institution intends to adopt to restore growth and employment. "The Federal Reserve has a variety of instruments that can be used to increase financial support to the economy," he said flatly. In the same vein, he says he "discussed the merits and costs of these instruments at a meeting in August."And clarify that he and his "colleagues on the Committee's monetary policy the Fed (FOMC)" continue to study these possibilities in September.
In anticipation of Obama's plan for employment
Still hesitant, most investors are waiting impatiently for the speech Barack Obama (1 hour on Friday, French time), which is expected to announce tonight a plan of some $ 300 billion to reduce unemployment and avoid a recession threatens. Markets, which had initially welcomed the prospect of the announcement, began to appear less enthusiastic. They question in particular its financing and its impact on the U.S. deficit.
On the macroeconomic front, the weekly jobless claims rose in the U.S., whereas they were expected to decline.During the week to September 3, these amounted to 414,000, against 412,000 (revised) the previous week. For its part, the trade deficit fell sharply in July to $ 44.8 billion after two consecutive months above 50 billion, with an unexpected surge in exports. In addition, crude oil inventories fell more than expected last week, announced the U.S. Agency for Energy Information (EIA). They fell 3.96 million barrels to over 353 million, while economists had forecast a decline of 1.9 million barrels. The consumer credit in turn increased more than expected in July. According to the Federal Reserve, the stock rose by 11.97 billion dollars (8.61 billion euros) after an increase of 11.35 billion dollars in June
OECD pessimistic
According to the OECD, economic growth in developed countries could slow sharply, see stalling in the second half and central banks must be prepared to ease monetary policy by lowering interest rates or intervening in the markets. The Organization for Economic Cooperation and Development predicts that growth in the G7 should not exceed 1.6% annualized in the third quarter and is expected to fall to 0.2% over the last three months of year paydayloans.The United States should expand at a 1.1% annualized in the third quarter and 0.4% in the fourth.
In the same tone, the IMF said on Thursday that "the economic situation of a global perspective has deteriorated, and the risks increase, which is what we have said so far," d According to a spokesman.
On the foreign exchange market, the euro declined to 1.3883 dollars (-1.50%). The course of the black gold they have closed lower Thursday, undermined by the fluctuations of the dollar and weak equity markets.A barrel of "light sweet crude" for delivery in October down 0.32% to 89.05 dollars.
The side of values, the Chinese government pledged Thursday not to make higher bid by "politicizing" an oil spill in the northeast of the country about which the U.S. company ConocoPhillips (-2.124% to 65.880 dollars) has agreed to to endorse its "full responsibility".
The Taiwanese HTC (filed a complaint in the United States against Apple yesterday.The number two mobile phone in Asia accuses the giant of violating patents that Google has to give him.
For its part, Credit Suisse, the bank is considering to withdraw its private banking business in the United States, where the establishment is facing pressure from the U.S. authorities decided to fight against tax evasion, said Thursday the press Switzerland.
Also note, the South Korean group Samsung Electronics will release a new digital tablet under Windows environment, equipped with the Windows operating system developed by Microsoft 8, reported Thursday the Korea Economic Daily, citing a source familiar with the matter.Analysts say South Korea wants to reduce its dependence on Android operating system Google after its acquisition by the American giant of internet mobile phone manufacturer Motorola Mobility.
The Chinese authorities have renewed the license authorizing the operation of the U.S. site Google (0.174% to 534.960 dollars) in China. This decision indicates that Beijing wants to maintain Google in the country, despite its decision to reduce its operations in place against the backdrop of criticism of the policy of censorship. Also note, the infringement proceedings initiated against Google in May by three French publishers, Gallimard, Flammarion and Albin Michel, will not on at the moment, said Thursday the magazine Livres Hebdo online.
The American group messaging FedEx (-1.510% to 74.990 dollars) wants to buy 50 aircraft to modernize its aging air fleet, according to Bloomberg.Fedex is the competing Boeing 767 and Airbus A330, but will make its decision in several months.
The Paris Bourse succeed does bind to a fourth straight increase session on Thursday? nothing is less certain. At the opening, the CAC 40 showed an increase of 0.50% to 3273.05 points. But soon, the benchmark index in Paris fell into the red. Around 10:30, it loses 0.76% to 3232.15 points.
The reversal was also performed in London, the FTSE-100 lost 0.56% to 5364 points while the Frankfurt Dax 1.57% to let go of 5693.76 points.
On Thursday, investors are wait-until a series of indicators in the United States. On the menu: the Monster Employment Index and weekly jobless claims before the highly anticipated monthly employment report on Friday.Productivity in the second quarter and is expected construction spending and ISM manufacturing.
In the euro area, the final manufacturing PMI contracted in August for the first time since September 2009 due to a fall in output and new orders. The index calculated by Markit PMI final spring to 49.0 in August, against an initial estimate of 49.7 and after 50.4 in July. The German manufacturing sector slowed in August, including at its lowest in almost two years, to 50.9 after 52.0 in July.In France, the PMI industry has returned to 49.1 against 50.5 in July, an even sharper decline than that reflected by the flash estimate of 49.3 issued two weeks ago.
Also in France, the unemployment rate as defined in International Labour Office (ILO) decreased slightly by 0.1 points in the second quarter to 9.1% on average in metropolitan (9.6% including the departments of overseas), according to data seasonally adjusted (SA) Interim released Thursday by INSEE.
Yesterday, the Cac 40 ended on a strong growth of 3.07% allowing it to pick up 3250 points. And signals from Wall Street, which also ended the month of August on an increase of 0.46% are good.Also this morning, Asian markets generally appear in the green, backed by the index of manufacturing activity in China has reached 50.9 in August, against 50.7 in July.
Investors seemed reassured by the Fed to continue to support that ensures the growth of the United States by a new policy of monetary easing. These remarks, made during the last minutes of the meeting of the Monetary Policy Committee, reinforce those of the Federal Reserve chairman, Ben Bernanke, who on Friday called the elect to make fiscal stimulus measures to complement the action of the bank Central.
As for the oil markets, a barrel of "light sweet crude" for delivery in October gained 21 cents to 89.02 dollars in morning trading and a barrel of Brent North Sea crude for October delivery climbed 29 cents to 115 , $ 14.On the currency markets, the euro fell slightly to 1.4358 dollar.
Values to follow
Banking
Greek debt is out of control and the measures taken by the government can not restore the finances, the report of an independent parliamentary commission on Wednesday. The bank responded by piecemeal: Societe Generale gained 1.37% to 23.75 euros, Natixis 0.39% to 2.80 euros, BNP Paribas 0.21% to 35.94 euros. Crédit Agricole down however from 0.94% to 6.75 euros. Axa loses 0.45% to 11.13 euros.
Peugeot: -1.92% to 20.92 euros, Renault: -1.99% to 27.77 euros, Michelin: -1.77% to 50.09 euros
The new car registrations were up 3.2% in August.But sales of SAP were down 3% and 1 direct payday lenders.4% of Renault.
Sanofi: -0.47% to 50.42 euros
The group reached an agreement with Pfizer to produce generic versions of Lipitor cholesterol before the star of the American group from falling into the public domain, writes Les Echos newspaper on Wednesday.
Total: 0.12% to 34.03 euros
The National Transitional Council (CNT) Libya has promised to give to France 35% of crude oil from Libya in exchange for recognition of its legitimacy Paris, Liberation reported Thursday.
Iliad: 2.85% to 85.93 euros (largest increase in the SBF 120)
The internet service provider reported in the first half of 231,000 new subscribers under its brand Free (excluding Alice), a market share of 36% and saw its EBITDA margin to improve by a , 4 point to 40%, or 416.4 million euros on sales of 1.04 billion (+2.6%).
France Telecom: 0.26% to 13.33 euros
The U.S. administration has initiated legal proceedings Wednesday to block the sale of Deutsche Telekom's U.S. subsidiary T-Mobile to the giant AT & T for reasons of respect for competition.
Pernod Ricard: -1.54% to 61.54 euros
The French producer of wines and spirits, announced Thursday a 10% increase in net profit for the year 2010-2011, exceeding for the first time the billion euros.
Eurazeo: -2.38% to 38.71 euros
The investment company said Thursday in a loss of 106.3 million euros in the first half due to losses on derivatives and goodwill
GDF Suez: -0.41% to 21.86 euros
The group said it had completed the acquisition of gas storage sites in Germany.
Eiffage: -7.08% to 31.50 euros
The new CEO of the group does not preclude the sale or closure of loss-making subsidiaries to consolidate the early resumption of the performance of the construction group observed in the first half.
Saint-Gobain: -0.94% to 34.70 euros
The group announced it would invest $ 100 million (69.41 million euros) in the United States to create a factory specializing in the manufacture of ceramic balls ("proppants") used in wells oil and gas.
Latécoère confirms its objectives
Lagardère: -8.67% to 21.74 euros
The group was forced to significantly revise down its forecast for operating profit for 2011 because of the difficulties encountered by the sports center in the first half.
Maurel et Prom: 1.73% to 14.73 euros
The group took the first half of the increase in its oil production and high prices in oil prices to clear the results up sharply.
Guyenne et Gascogne: -3% to 86.09%
The group reported a loss in the first half, the franchisee of Carrefour have been penalized by its subsidiary Sogara whose accounts were affected by several non-recurring items.
Latécoère: stable to 10.77 euros
The group, whose net income rebounded sharply during the first half, confirmed its targets for operating profit in 2011 and 2012.
Theolia: 10.48% to 1.16 euros
The group reported Wednesday a recovery in its interim results, the French wind power has reduced its interest expense over the period, particularly through the conversion action of nearly two million of bonds.
After market, Neopost will publish its revenue for the second quarter and Stallergenes results for the first half.
Like the Asian stock markets, although directed this morning with the exception of the financial center of Shanghai, is expected to open the Cac 40 up 1.5% above 3100 points, according to the indices "future" in the rebound in wake of U.S. indexes on Friday. The main European indices, with the exception of the London Stock Exchange will remain closed on Monday, are expected up 1.1% and 2%.
Friday, after a negative early trading, Wall Street has ended the session on gains of 1.2% for the Dow and the Nasdaq 2.5%, investors focusing on positive ads during the next meeting of the Federal Reserve in September, Ben Bernanke hinted at the conference of Jackson Hole.The anticipation of a further intervention by the Fed puts the dollar under pressure against a basket of currencies: the dollar is trading at 1.4537 dollar per euro.
And always in the context of the general economic meeting in Jackson Hole's new Executive Director of the IMF, Christine Lagarde, has urged this weekend to recapitalize banks. She said that the European institutions "need of urgent recapitalization." The former Minister of Economy and Finance believes that these measures are the "key to cut the chain of contagion." Blow to the banking industry, already largely weakened during the summer.
Pending on the details of the background of aid to Greece In Greece, aid modalities are not yet fastened.Negotiations were slowed by the requirements of Finland and the new challenges of Athens.
And referring to the financial crisis, Laurence Parisot estimates for its part, that "if Europe were attacked, not because it is weak but because it is strong, and if it is envy, c ' is because it is enviable, "In an interview with Le Figaro, the boss of bosses denounced a U.S. plot against the euro area.
Irene reduced cost
Other news of the weekend: the passage of Hurricane Irene passed through New York without drama. He also was demoted to a tropical depression. U.S. markets should open smoothly and Monday. Hurricane Irene would have between 500 million and one billion dollars in damage in the Caribbean and the United States, according to catastrophe modeling firm EQECAT.A figure below the most pessimistic forecasts considered before the hurricane.
The price of Brent was down, refineries and oil terminals on the East Coast of the United States seem not to have suffered major damage, easing fears of a supply disruption. In addition, Libya resumes oil exports within a month, according to the spokesman of the Arabian Gulf Oil Company (Agoco), controlled by the rebels. Crude oil production will resume in mid-September on two deposits in the country.
Still on macroeconomic markets will learn on Monday of income and household consumption in the United States in July and promises of home sales.
Banking supervision
As for values, the eyes of investors should focus on banking stocks, after the words of Christine Lagarde.
In addition, Ingenico said it had repurchased TNET, an Italian company specializing in payment terminals, for an amount that was not disclosed. According to Ingenico, TNET manages an installed base of 45,000 terminals in Italy.
APRR observe the re-opening until September 9 of the OPR launched by Eiffage and Macquarie. The toll road was also noted Friday that the evolution of traffic early in the second half was mixed for light vehicles, but remained well oriented for heavy vehicles.
In addition, ING has lowered its board to maintain, against buy Arkema on the title and reduced its price target on the value to 55 euros (as against 85 euros).
Canal + could push his plans for the IPO.While the ACC has lost nearly 20% of its value during the summer, analysts are skeptical of an imminent public offerings of media group, reports Les Echos. The listing of the 20% held by Lagardère has already been de-programmed, it could eventually sell its stake in Vivendi, the majority shareholder.
For its part Orange would be in conflict with the American Cogent. The U.S. operator has, according to La Tribune, filed a complaint against his French counterpart to the competition authority for "abuse of dominant position." Orange is accused of preventing users from accessing the site MegaUpload.the conflict began in January when Orange had decided to grant the account drop traffic from Cogent.
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After a smooth start Monday, the prestigious yearling sales at Deauville * Tuesday saw the excitement of great days with a filly born to the purple.
When she was presented the "ring" of the Establishment Elie de Brignac, located opposite the racecourse The Touques, tension immediately rose several notches in the gallery hosting the auction buyers and quickly flamed .
For this filly, by the stud of Perelle, is a daughter of Galileo, the best stallion in the world (it's riding the famous Coolmore Stud in Ireland and its projection amounts to tens of thousands of euros).As for his mother, Sanjida, after the breeding of His Highness the Aga Khan is a close relative of Sarafina champion, winner in 2010 of three groups I, including the Prix de Diane, Qatar and the last third Prix de l'Arc de Triomphe.
Quickly, the auction turned into a duel between two Australian businessmen, Paul Fudge and Paul Makin, both thoroughbred breeders and owners of racehorses. Finally, the first had the last word with a bid of 1.7 million, the auctioneer lowered his gavel and say the traditional "awarded" for Lot 138.
The 2002 record still stands
This amount is probably the "top price" sales in 2011 in Deauville, which will end Thursday make quick cash. But the record set in 2002 still stands.At the time, Sheikh Mohammed Al Maktoum, Ruler of Dubai and owner of the Godolphin stables, one of the largest in the world, did not hesitate to pay 2 million euros to buy the filly Vimy Ridge. This year, like last year, Sheikh Mohammed and Sheikh Hamdan's brother, are not present on the Normandy coast because of Ramadan.
In addition to the price achieved by the daughter of Galileo, fifteen yearlings yesterday exceeded the threshold of 200,000 euros, which allowed a rebound. "On the combination of the first two days, there was a 20% increase in sales compared to 2010, said in Galop Day, Eric Hoyeau, the president of Arqana, organizer of sales. The percentage of sales increased by 68% to 71.3%. The average price 145,500 euros against 150,000 – it is substantially equivalent to that of 2010. "
After the first two days, its objective, namely a slight increase over 2010, a year marked by a fall (-28%) of sales of sales of Deauville, becomes more and more feasible .
* Thoroughbred of 18 months
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