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The mining industry in developed countries is not quite dead. Yet the crisis of 2008 had seemed to him a fatal blow, after years of attrition caused by the scarcity and soaring costs of extraction. But today, the United States, the United Kingdom, Canada … mines reopened thanks to soaring commodity prices.
Chibougamau camp, north of Montreal, had not survived the collapse of prices and had to close in 2008 after fifty years of activity. But the soaring price of copper (+47% in one year), gold (+40% in one year) and money (113% in one year) has to hope René Galipeau, CEO of Nuinsco: "Hundreds of children left when the production was closed after years of operational and financial problems.But work on only two mines could lead to the reopening of the Chibougamau camp … and the return of minors to accelerate the revival of the region. "
Nuinsco group is not the only one who had this idea. Many investors would like to reopen the largest gold mine Bontddu UK (Wales). It must be said that the price of gold rose from $ 250 per ounce in 1999 to 1850 dollars lately!
Local authorities are sometimes hostile
"When we closed the mine, it had become too expensive to operate but with the rising price of gold, we are considering reopening the Clogau mine," Wales said Ken Jones, manager of marketing Clogau Gold jewelry company which owned the rights to the mine.
Other metals are benefiting from soaring prices.Thus, the largest silver mine in the United States will also open in Texas as well as the Chino Mine (copper) in New Mexico. In Britain, the last tin mine, South Crofty Mine, closed in 1998, remember to return to activity. The metal price has increased fivefold over the period (+51% over the year).
Nevertheless, we are still far from the great return of the mining industry. Two challenges are needed to interested investors: the financing of such a project (Nuinsco believes that it would require 40 to 50 million dollars to revive the Chibougamau camp) and agreement with local authorities, sometimes hostile projects. This is the case in South Crofty in England, where the community wants to build a recreation center on the site.
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"Hugo Chavez will nationalize the gold sector
New black day on Wall Street. After opening in the dark red (-2.19% for the Dow and -3% for the Nasdaq), the New York Stock Exchange closed down a massive. The Dow Jones lost 3.68% to 10,990.58 points and the Nasdaq was unscrewed from 5.22% to 2380.43 points.
The New York Stock Exchange, which has already ended the session on Wednesday on a very hesitant, was weighed down by fears of contagion from the crisis of European debt to U.S. banks and the threat of a relapse of economy after disappointing figures on the employment front in the United States. Symbol of this fear on the recovery, oil finished down 6% in New York, a barrel of "light sweet crude" for September delivery ended at 82.38 dollars.
In Europe, stock markets have been driven into the red, pulled down by banking shares.The markets are worried about the global economic downturn, following the release of retail sales increased very slightly in Britain.
Morgan Stanley is concerned about global growth
Morgan Stanley also lowered its growth forecast of the global economy for the years 2011 and 2012, the revision is stronger for developed countries. In a note published Thursday, the U.S. investment bank now expects growth in global gross domestic product (GDP) of 3.9% in 2011, against 4.2% previously and 3.8% in 2012, instead 4.5%.
The bad mood is compounded by a series of important indicators in the U.S. on Thursday and go in the direction of a faltering economic recovery.
First bad news earlier this afternoon with the weekly jobless claims: The Labor Department reported a larger increase than expected last week. They reach 408,000 registrations, against 399,000 the previous week. Economists on average had expected 400,000. The consumer prices have in turn increased more than expected in July (0.5%), driven by the rebound in gasoline prices.
The index of the Philadelphia Fed, the "Philly Fed" came out in very sharp decline in August, well below expectations. It plunged to -30.7 in August from 3.2 in July, while the consensus of analysts expected a slight rebound to 3.7.He thus reached its lowest level since March 2009.
The U.S. index of leading indicators, however, increased more than expected in July to a record high, due to growth in money supply and a decline in jobless claims, the Conference Board said Thursday.
Finally, existing home resales fell contrary to expectations: they were down 3.5% in July, while analysts expected a 3.8% increase, according to figures from the NAR.
New record for gold
In terms of raw materials, while the stock markets fall, gold has reached a new record on Thursday: an ounce of the precious metal rose to 1816.25 dollars on the spot market. Oil markets, prices opened down sharply in New York, the new access affected in a bad mood.To 15 hours (French time), a barrel of "light sweet crude" for September delivery was trading at 85.02 dollars, down 2.56 dollars compared to the previous day.
On the currency markets, the euro lost some ground against the dollar, struggling to find direction in a sluggish market and cautious with the release of U.S. indicators and always weighed down by the debt crisis in the eurozone. At the close of Wall Street, the euro bought 1.4345 dollars against 1.4428 dollars late Wednesday.
Values of the day
Hewlett-Packard, which published its results before the scheduled time (turnover of 31.2 billion, in line with expectations) and resulted in a trading halt, announced it was negotiating the purchase of Autonomy Corp., a transaction by Bloomberg estimated 10 billion dollars. It envisages the other to separate its computer division, its largest business, but less profitable.It also abandons the tablet touchpad.
NetApp declined by 14.04% in early trade to 35.81 dollars. The group missed the consensus for its first quarter of fiscal 2012, with a turnover of 1.46 billion, against $ 1.51 billion expected by analysts. The net decrease of $ 150.7 million to $ 139.5 million
The communications systems equipment supplier JDS Uniphase (-12.81% to 10.20 dollars) has reported a net quarterly profit of $ 9.3 million, or 4 cents per share against 1.5 million the last year. It provides a low turnover in respect of its first quarter due to adverse economic conditions, but is optimistic in view of its order book.
Coca-Cola (-2.14% to 67.80 dollars) will invest four billion dollars more in China between 2012 and 2014, reported Thursday the New China News Agency, quoting the CEO of the world's leading soft drinks.
Sears Holdings (-8.16% to 55.23 dollars) reported a higher loss than expected in the second quarter, sales were weak and the promotions have started margins.
Ross Stores (-4.86% to 68.31 dollars) has reported a better than expected pofitive the second quarter but is cautious about these results for the rest of the year in a difficult environment.
Dollar Tree (-1.34% to 70.84 dollars) has reported an increase of 22% of its profit in the second quarter.The distributor has revised upwards its forecast for earnings per share (between 3.82 and 3.95 against 3.69 dollars and 3.85 dollars expected in May).
IBM (-4.46% to 163.83 dollars) is one of two candidates vying to buy at Lufthansa subsidiary Lufthansa Systems, the German press reported Thursday. Another potential buyer is the conglomerate Tata Group.
Gap (-5.48% to 15.52 dollars) and Foot Locker (-6% to 17.56 dollars) must publish their results after the close.
In the wake of Wall Street, the indices showed last green. The U.S. indices were offered a breath of oxygen, the ones who had suffered a Monday night session black. But did not count on the intervention of the Fed, which ended the great rebound: the Central Bank of the United States (Fed) announced Tuesday it would keep its key interest rate near zero " at least until mid-2013 "and that it was considering new stimulus package to help the economy. These ads have been justified by growth 'considerably slower' than expected and risks "have increased".
What investors consolidate their fear that the U.S. economy slow down seriously. Around 20:30, the Dow Jones clawing over 0.04% to 10,814 points, still below 11,000 points, after crossing the water line briefly.The Standard & Poor's 500 and 100 Nadsad, highly volatile, yet amounted respectively to 1.21% and 1.98%, whereas increases were much more frank queqlues minutes before the Fed speaks. The Fed should seek a delicate compromise between indications that reassure investors around the world, and a formulation that is acceptable to the enemies of inflation.
Also very anxious before the meeting with the Fed, the European and Asian stock market finally closed in the red after a session yoyo. In Paris the CAC 40 fell below 3,000 points for the first time since July 2009. But the trend seems to have subsided, the indices being pressed into the green in the afternoon.
Plummeting after the deteriorating U.S. debt rating last Friday, the Dow ended Monday down 5.55%, falling to 10,809.80 and the lowest level in 10 months. It dropped below the 11,000 points for the first time since October. The Nasdaq, dominated by technology, more copiously unscrewed further, down 6.90%. The speech of President Barack Obama yesterday at the meeting, has little reassured the markets, which have severely plummeted, from both sides of the Atlantic. Furthermore, degradation, on Monday, Standard & Poor's, unsecured notes of Fanny Mae and Freddie Mac, organizations refinancing home loans, a, yesterday, still darkened the picture.These organisms probably were punished because of their dependence on the U.S. federal government.
Global oil demand to decrease
The Organization of Petroleum Exporting Countries Tuesday lowered its forecast for growth in global demand for crude in 2011, citing deteriorating macroeconomic outlook in most advanced economies. In its monthly report, OPEC reduced its forecast of 150,000 barrels per day (bpd) now and plans for this year growth in global demand of 1.21 million bpd of crude.In financial markets, oil prices were up Tuesday at the opening in New York (13 cents to 81.54 dollars), offering an impressive rebound Oil prices were up Tuesday at the opening New York, offering an impressive rebound after falling to levels seen since September.
Earlier this afternoon, investors are aware of a new better than expected, but still not glorifying to the future of U.S. growth. Productivity, which measures hourly output per worker, fell at an annual rate of 0.3% over the period April to June after falling 0.6% the previous quarter (revised from 1.8%). The market expected it folds down from 0.8% in the second quarter.
Face communication at high risk of the Fed tonight, "it is clear that the average productivity of U.S. companies in the second quarter is very far from the concerns of the market and will go unnoticed" analysts suggest Aurel BGC. Especially since the figure is clearly negative, the victim of an increasingly weakened growth.
The market capitalization of U.S. computer maker Apple has briefly exceeded that of the oil giant ExxonMobbil Tuesday, becoming the most expensive company in the world, said a specialist told AFP. The market capitalization of both groups were around 340 billion dollars in the afternoon in New York, told AFP Volokhine Gregory, head of markets for the company portfolio management Meeschaert New York. That of Apple rose temporarily above that of ExxonMobil to 7:20 p.m..
"Apple against the disadvantaged." The title of the last note on the market shelves DisplaySearch force hardly relate. Competitors of the iPad accumulate disappointments.
Motorola announced last week it sold 440,000 of its shelves Xoom in the last quarter, which is better than expected. But it has revised downward its objectives for 2011. He no longer expects to sell 2 million in the year, but between 1.3 million and 1.5 million. Even though Motorola has introduced an offer to pay 100 euros for the purchase of the tablet, initially at 579 euros. "Apple has set the benchmark price for a tablet of 16 GB Wi-Fi is 499 euros – or dollars – no more," says an analyst. And even at that price, it does not. Motorola is far from the only one to have experienced. Acer has drastically revised its ambitions.Taiwan is now focusing on the annual sales of between 2.5 million and 3 million, far 5 to 7 million initially planned. Others could follow, including RIM. The manufacturer of the BlackBerry Playbook sold 500,000 in one quarter, but sales have slowed rapidly.
The price cuts and promotions of all kinds pose another risk in the market: consumers lose the notion of "fair price".
The tablets could have been a generator margins for manufacturers, but by reviewing their rates too quickly, they may have already lost the opportunity. "Brands and retailers that compete with Apple running after him, and in their desperation, they might be digging their own graves, says a study by DisplaySearch guaranteed payday loans.This gives the impression that these products are not completely finished. "So, with 9 million iPad sold in three months without any price cut, Apple seems unassailable, fumbling away the beginnings of the iPhone and revisions price.
Fade margins
Competition does not, however, weakens. Samsung will launch two new versions of the tablet at the end of the month, the Galaxy Tab 10.1 and the Galaxy Tab 8.9. They will be sold, respectively, to 489 euros and 459 euros for the 16 GB Wi-Fi, exactly the price of an iPad. By choosing a price positioning similar to Apple, Samsung is also taking a big risk in case of commercial failure, it will have little excuse. And while the competition on the market shelves is expected to increase further by year-end.Other players will enter weight, such as Sony and Fujitsu.
Why this craze for tablets, while only Apple seems to succeed at the game? Because more and more industry players are convinced that very quickly supplant the PC shelves in homes. Joseph Reger, CTO of Fujitsu, said he was "convinced that sales of Tablet PCs will exceed those of (netbooks and notebooks) to consumers by 2016." He also said that Amazon could launch a $ 299 tablet: "A consumer could afford them two for the price of a PC." Shelves would meet the main expectations of individuals, more likely to consult the content to create. They therefore prefer the portability and ease of use. Used in any room of the house, they would disappear the concept of office. Saves space in store!
After considering the price of flour in supermarkets and those of certain financial products, the European Commission is vigilant in fine watchmaking. The competition regulator on Friday launched an investigation into the agreements and dominant positions among manufacturers of luxury watches, trying to see if they have agreed to refuse to supply spare parts to independent repairers.
"The Commission informed the parties concerned and the competition authorities of the Member States of the opening of the proceedings in this case," said the European Commission in a statement.
The investigation follows a complaint filed in 2004 by the European Confederation of Associations of watch repairers (CEAHR) for alleged violation of competition rules of the European Union.Multi-brand repairers had indeed used to make many of the repairs of luxury watches payday loan online. But from 2002, according to CEAHR, manufacturers of luxury watches began to refuse to supply spare parts to multi-brand repairers who were not part of their repair networks. The CEAHR therefore seeks the condemnation of the practice, saying it could force independent repairers to put the key under the door.
The European competition regulator rejected its complaint in 2008 for lack of Community interest. Then the decision was overturned by the European Court of Justice (ECJ) in December 2010. This does not prevent the European Commission to be cautious about this.She stresses that the opening of an investigation does not mean it already has evidence about the existence of an offense. And yet, no manufacturer of luxury watches is specifically under investigation.
Relief. Is the word that prevails today in all of world stock markets, after U.S. lawmakers passed this night finally put to an agreement on raising the ceiling on the debt. In the wake of the Asian stock markets, the benchmark index in Paris went on Monday morning from 1.28% to 3718.38 points, and gained further 0.84% to 3702.21 points in mid-session. Without emphasis, therefore, probably in May, the CAC 40 bounced finally, after losing 7.8% in July, of which only 4.4% over the last week.
Last week, the inability of the United States to solve the problem of public finances had weighed on investor sentiment. In Paris the CAC 40 was indeed touched its lowest level in session year (3,630.75 points), while Wall Street finished its worst week in a year, despite the intervention of Obama Friday in an attempt to reassure debt.
After the relief 10 days ago on Greek sovereign debt, the second bailout should be voted on Monday by French deputies, optimism is therefore in the financial center of Paris. After weeks of negotiations, elected Democrats and Republicans have indeed finally found common ground on the amount of new ceiling, avoiding the world's largest economy is not found in default of payment in the coming days.
According to preliminary information provided by the White House, the debt ceiling would be raised to 2.1 trillion dollars less, breathe new life in the United States on the forehead of the debt until 2013, after the elections presidential. This agreement in principle will also enable the countries to continue to borrow on the markets beyond the August 2 deadline set by the Treasury.
The reaction of rating agencies expected
On the other hand, no excessive optimism sustainable are to be expected in financial markets, at least until the U.S. Congress has not ratified the agreement. The first submission is expected to vote that day. Furthermore, few details have yet filtered on measures taken to reduce the deficit in the U.S., which does not exclude the possibility of deterioration in the rating of the sovereign debt of the United States.
For now, the first tranche of spending cuts of $ 1 trillion is expected. Then a bipartisan special committee of Congress will be responsible for finding the end of November additional expenditure cuts amounting to 1.5 trillion dollars. A total of 2.5 trillion dollars in budget cuts, all over 10 years.From this point of view, the reaction of rating agencies in this agreement called the "medium term" should be widely adopted by the markets in the coming hours.
On the currency front, the dollar has benefited only modestly from the announcement of the night, illustrating the temporary nature of such an agreement. The euro was little changed at 1.443 dollar. The ounce of gold reperd some ground in 1614 Dollard.
In terms of oil prices were up on Monday in a market relieved by this agreement in extremis. A barrel of "light sweet crude" for September delivery gained 1.37 dollars to 97.01 even dollars in mid-day.
Macroeconomic side, investors will appreciate, at 11:00, the publication of a stable unemployment rate in the Eurozone in June to 9.9% of the workforce, according to EU statistics office Eurostat.The unemployment rate is now 9.9% for four months.
Manufacturing index to the lowest in Europe
Less good news, however, on the front of the growth of manufacturing, reflecting a sharp slowdown in July in the euro area, as confirmed on Monday the second estimate of the PMI purchasing managers, at its lowest level in a year and a half. The manufacturing PMI fell to 50.4 points against 52 in June, the company said that performs Markit index, confirming its preliminary estimate published in mid-July.
Overseas are also expected to 16h construction spending for the month of June, the ISM manufacturing index for July, which should appear in decline.
As for values to follow
Last week, the numerous quarterly publications were rather disappointing, adding to the nervousness of investors.The pace slows down this week, though are expected in the next three days the details of the interim bank shares.
After the U.S. agreement, the entire industry is also well oriented in mid-session: BNP Paribas gained 0.54% to 45.71 euros (the bank will release its results on Tuesday), Societe Generale s' awards 0.76%, to 35 euros (Wednesday results), AXA, 2.10%, to 13.38 euros, and Natixis, 1.51% to 3.22 euros on Thursday).
The Committee of French Automobile Manufacturers (CCFA) announced a decline of 5.9% of new car registrations in France in July, up 159,945 units sold. Sealed by the plunge of its brand Dacia, Renault sales were down 12.4%, but stock market, the title is better than the market (0.12% to 37.31 euros).This is not the case of Peugeot, which despite a more moderate decline in sales (-7%), displays one of the worst performance of the CAC 40 (-2.41% to 25.9 euros).
EADS (1.10% to 24.46%) announced this morning that the takeover from Apax Partners Vizada, a provider of communication services for 673 million euros, the second largest purchase of his history. The transaction will be financed entirely by cash.
Eiffage (0.52% to 38.36 euros) reported a slight slowdown in growth in the second quarter despite a sharp rebound from its construction activities, the division of public works who registered down over the period.
Outremer Telecom (0.42% to 12 euros).A draft tender offer simplified to the telecom operator was introduced by OMT Invest, a structure controlled by Axa Private Equity, according to a notice to the Financial Markets Authority (AMF) and released Friday.
EDF Energies Nouvelles (suspended) entered into exclusive negotiations with Capital Perceva to cede control of Supra, the fund feeds the project to file a simplified takeover bid at the end of the process. The listing of EDF Energies Nouvelles has been suspended following the July 21 filing with the AMF, a project by EDF squeeze.The withdrawal and cancellation of the shares of Euronext Paris EDF EN should be held no later than mid-August.
HSBC (3.95% to 7.10 euros) The UK bank listed in Paris, which will publish its results after market close for the first six months of the year, announced it would sell to First Niagara Bank near half (195 branches) of its retail banking activities in the United States. The transaction amount is estimated at $ 1 billion.
General Health (1.55% to 10.47 euros) issued a sharp drop in operating profit in the first half due to exceptional items, but its revenue rose due to higher stays acute care.
Recylex (6.83% to 6.10 euros) on Friday issued a Revenue for the second quarter increased significantly, from 32% to 125.34 million euros, supported by an increase of 48% of its lead recycling business thanks to the 16% increase of lead prices and increased sales volumes.
Air Liquide (2.55%, to 98.4 euros) the gas giant on Monday reported a 11% increase in net profit in the first half, to 750 million euros. It maintained its forecast a "steady increase" in net profit for the year.
Note that Gameloft will publish its interim results after market close, while Le Noble Age unveil at the same time state sales for the same period.
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"Asian stock markets welcomed the U.S. agreement
Still no solution. The elected representatives of the U.S. Congress again tried Sunday to reach an agreement on raising the debt ceiling, but without success. Democrats and Republicans had themselves set a target to announce progress on a plan for deficit reduction before the opening of Asian financial markets on Monday morning. The disappointment of investors is large, the Asian financial centers such as the Paris Bourse.
Secretary of State Hillary Clinton sought Monday to reassure Asian markets: "I am confident that Congress will do what is needed and will come to an agreement on the debt ceiling, and work with President Obama on measures to improve our long-term fiscal outlook, "she said in the text sent in advance of a speech in Hong Kong.
Members of both parties decided to work separately on separate projects. The chairman of the House of Representatives, Republican John Boehner, now plans to announce a plan at 14 am local time (20 hours in Paris).
"Nobody wants a failure"
John Boehner told his troops last night that no breakthrough had yet been obtained to repel the specter of a failure of the United States after August 2. According to two officials, he would have repeated in a conference call that "no one wants a failure." But he also warned his party's elected they may need to make "sacrifices" to avoid it.
Twice since Friday night, the talks between the two sides have failed to unlock the status quo on the action to start to reduce the U.S. debt.Friday night, the country experienced a further escalation in the standoff between Democrats and Republicans, they refused to pander to Barack Obama. The Democrats call indeed now $ 400 billion of additional tax increases. A change of position is unacceptable, according to John Boehner, while the two sides had previously agreed to a ceiling of one trillion dollars in additional tax revenue bad credit payday advance. Saturday evening, the President was therefore convened in emergency to four White House officials Republicans and Democrats in Congress for a new emergency meeting. But no more successful in negotiations, after 50 minutes of discussion.
Democratic side, the president believes that the 1.6 trillion cuts represent an offer "extraordinarily fair".Republican side, these efforts remain insufficient to John Boehner, who wishes to bring to 3 trillion budget savings over ten years.
Critical deadlines
Given the failure of talks between the president and elected representatives of both chambers, the compromise could eventually go through further discussion within Congress. If a common ground on removing the ceiling on debt seems likely, no party could only be satisfied with this short term solution, and discussions on the reduction of public spending should be more difficult. One observation that seems to share Timothy Geithner.
The U.S. Treasury Secretary said yesterday that there would probably have two stages for an agreement, first raising the debt ceiling and an agreement on spending cuts and a second stage of higher taxes and reforms.Whatever the timing adopted, it was also described as "unthinkable" that the United States do not meet their debt obligations. And as Barack Obama, who does not want the thorny issue of debt re-emerged during the election year ahead, Timothy Geithner wants to avert the threat of a default for at least 18 months, but at nine days the deadline of August 2, the time is now critical.
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The French debt will be increased by about 15 billion euros by 2014 due to the implementation of the plan of aid to Greece reached Thursday night, Francois Fillon said on Friday.
The Prime Minister also called the agreement by EU leaders on a rescue plan for Greece to step absolutely decisive for the euro area.
This increase in debt could undermine the government's objective to begin to reduce the debt ratios of France from 2013.
The Brussels agreement, which owes much to the efforts of France and Germany, pemettra to avoid bankruptcy of some countries in the euro area, said the Prime Minister after explaining the decisions taken Thursday to French parliamentarians at Matignon.
The "golden rule" would entrench the need to reduce deficits in the French Constitution is more than ever, still says the head of government.
In the future, the quality of service to access the Internet at very high speed could be paid by consumers and Internet giants like Google and Facebook. Telecoms operators should therefore more profitable to make significant investments to connect at least half of Europeans in very high speed (100 Mbit / s) in 2020. This is one of eleven proposals submitted to Neelie Kroes on Wednesday in Brussels by three CEOs of large European companies that have telecom floor forty counterparts. In early March, the Vice President of the European Commission, responsible for digital strategy, had given three working groups to Jean-Bernard Lévy, Vivendi chief executive, Rene Obermann, CEO of Deutsche Telekom and Ben Verwaayen, the CEO of Alcatel-Lucent.She wanted to know their positions to achieve the objectives of the Internet of the future of Europe. But Neelie Kroes has given its green light. She noted that the discussion "has not led to a consensus."
Contribution of 9 billion
However, Europe has announced that it could contribute up to 9 billion euros for investment in telecom infrastructure. The total was estimated between 200 and 300 billion euros over the period 2010-2020 for the operators. The President of the European Commission, "Jose Manuel Barroso has made the announcement Tuesday night at a dinner.Wednesday, Neelie Kroes reiterated the proposed contributions to investment of 9 billion euros in European funds, "says Jean-Bernard Lévy, CEO of Vivendi.
In order to reduce investment, European players have suggested that the frequencies are shared for future mobile networks and that "investments are pooled, especially for civil works and the optical fiber," says Gabrielle Gauthey, Director of Public Affairs Alcatel-Lucent. For his part, Rene Obermann, head of Deutsche Telekom, has urged all sectors to agree on the creation of standards for interconnecting the next generation network.
But among all the proposals, which calls on Europe a "differentiation in terms of traffic management to promote innovation and new services and meet the demand for different quality levels" is to be the most difficult to be accepted by the giants of the Web. They should negotiate in secret affairs, with operators to deliver services to high-speed Internet users. Supporters of this proposal, it would not be called into question the "neutrality" of the Internet. Because Google and other Facebook would not have to sign these contracts.
The U.S. stock markets move sharply lower on Monday. The Dow Jones lost 0.84% to 12,551.25 points, the Nasdaq 1.02% to 2830.66 loose points and the S & P 500 drops 1.08% to 1329.34 points. On Friday, the New York Stock Exchange ended down, undermined by employment figures disappointing compared with analysts' expectations.
Hiring remained stalled for the second straight month the U.S. in June, with only 18,000 net new jobs and the unemployment rate rose to 9.2% of the workforce.
Alcoa opens the ball in quarterly results
The trend, however, should be fragile before the beginning of the season half-year results. As usual it is Alcoa (-2.32% to $ 16) which will open the show of quarterly, as soon after the close of Wall Street Monday.JPMorgan Chase will be the first major U.S. banks to issue, with results expected Thursday, the same day as Google, which will set the tone for the technology. Investors will know very quickly if the U.S. financial sector has suffered from the decline in trading activities. These results also give a taste of the figures will be announced later by European banks.
According to Thomson Reuters data, the results of listed companies on the S & P 500 should show an average increase of 7.3% compared to second quarter 2010. But this increase could be higher if a majority of companies beat the consensus.
The euro dropped to $ 1.40
On the foreign exchange market, the euro was digging its losses against the greenback on Monday.Mid-afternoon in Paris, the single European currency was worth 1.4050 dollars against 1.4258 dollars on Friday night, falling to levels seen for two weeks.
On the macroeconomic front, the United States, negotiations between Democrats and Republicans over raising the debt ceiling is again blocked, the Speaker of the House of Representatives, Republican John Boehner, who announced that he would not find a comprehensive agreement with the White House.
In the process, the U.S. Treasury Secretary Timothy Geithner gave assurances that the U.S. would not default on their financial commitments, while Barack Obama announced he would hold a press conference Monday at the White House.
Always on the side of values, Sanofi (2.49% to 80.35 dollars) today announced positive results in a phase III study for Lemtrada, a drug for the treatment of multiple sclerosis developed by Genzyme's new subsidiary. Sanofi put his hand in April on U.S. biotech Genzyme for more than 20 billion. In addition, Sanofi said on Monday the sale of its Canadian dermatology Dermik to Valeant for $ 425 million (300 million) in cash, in order to focus on priority activities in the United States and Canada.
In the same area, the Swiss company Lonza, specializing in life sciences, announced Monday the acquisition of the U.S. Arch Chemicals (11.24% to 46.91 dollars), a company active in biocides.The cash offer to 47.20 dollars per share values the company at $ 1.4 billion, which represents a premium of 36.7% over the share price on the last thirty days.
In addition, the U.S. aerospace equipment Precision Castparts Corporation (0.79% to 164.07 dollars) will strengthen the sector by buying aero Primus International Society for $ 900 million in cash.
Also note, the Financial Times, the fund Blackstone (-3.12% to 16.48 dollars) sold its shares in the Chinese Dili Group, while the group would not be able to freely adjust its prices .
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