After the storm that brought down the CAC 40 over 5%, the Paris Bourse rebounds. But at the cost of very high volatility. On Thursday, after opening up 2.96% to 3092.16 points, the CAC 40 index resumed its downward shortly before noon and sank below the threshold of 3000 points, already briefly reached Tuesday. Half an hour after the opening up of Wall Street, with two good indicators on employment and housing, the index slope gently went back after plunging 2.40% to 14 hours. It was up 2.47% to 3077.06 points shortly before the close.
Meanwhile, in Frankfurt, the DAX climbed 3.12% to 5788.64 points. The FTSE-100 index of London Stock Exchange gained 3.01% to 5157.94 points.Milan Mib took the FTSE 4.36% at 15,316 points, and the Ibex-35 index of the Madrid Stock Exchange climbed 4.09% to 8291.7 points.
The concerns are far from being dissipated, particularly those relating to the slowdown in the global economy and the issue of sovereign debt on both sides of the Atlantic. Evidence of this tension, gold continues to fly record after record. The precious metal has crossed the threshold of 1800 dollars. It is this Thursday morning in 1790 dollars, after hitting a new record of 1815.50 dollars.
Oil prices also retreated in a market that once again expressed its concerns about future growth and energy demand.On the New York Mercantile Exchange (Nymex), a barrel of "light sweet crude" for September delivery was trading at 82.39 dollars, down 50 cents from the previous day.
Bank stocks battered
Among the values of the day include banking, which have been heavily tested yesterday. The Financial Markets Authority (AMF), the stock market regulator, announced that it will monitor developments in the securities sector. Shortly before noon, BNP Paribas (-5.88% to 33.515 euros), and Credit Agricole (-1.51% to 5.981 euros) and plunged into the red after yet open on a rebound.
The title plays yoyo Societe Generale: having lost 14.74% Wednesday, it opened on a rebound of almost 9%.He dived again from 4.13% to 21.265 euros in midday before regroup after the opening of U.S. markets (-0.45% to 22.08 euros to 16 hours).
"The willingness of these attacks is to force the SG to a capital increase, which is the workhorse of some analysts and hedge funds in recent months," said an analyst based in Paris at the agency Reuters cash advance. "Their reasoning is that the group does not generate enough capital to cope with the capital ratio of over 9% in 2013." The bank, already shaken in 2008 by the Kerviel affair, only to find the investor confidence after several warnings about its results during the financial crisis.
For its part, the CEO of the bank, Frédéric Oudéa, denounced, in an interview with Le Figaro, "the series of attacks" against the French banking sector "sounds completely fantastic, I struggle with the utmost force, attacked Societe Generale, "he lamented. "We have no fear about our ability to raise capital," he added. SocGen has asked the AMF to investigate the origin of the rumors that have depressed its course Wednesday.
Alcatel-Lucent takes advantage of Cisco's results
Veolia Environnement (4.61% to 10.55 euros) and STMicroelectronics (3.39% to 4.488 euros), especially titles attacked in recent days, return to the field.
In addition, EADS (1.66% to 20.24 euros), the parent company of Airbus, said Wednesday it will not achieve its objectives in the United States in 2020 without new acquisitions.
Title Alcatel-Lucent (2.11% to 2.324 euros) rose after the release of quarterly results from Cisco Systems, above the consensus of Wall Street.
L'Oreal (2.29% to 1.73 euros) benefits from the decision by Goldman Sachs, which added its list of preferred European stocks to buy ("pan-Europe conviction buy list").
Saint-Gobain (1.11% to 31.775 euros) has announced the acquisition of Solar Gard, a subsidiary of Belgian group dedicated to Bekaert Specialty Films, as part of its strategy to accelerate its growth through acquisitions.
Maurel & Prom rose 4.22% to 12.35 euros after opening up over 8%. The oil company has reported a surge of 123% of its revenue thanks to increased revenues in Gabon and Nigeria.
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Tuesday, July 12 at 20:45, Stéphane Rotenberg will kick off a "Dinner almost perfect: the best team in France." "This is a series of bonuses for daily works so well, says the leader. We combine the two best candidates to represent their city. This sometimes creates dissension or complementarities. They are fans so it's very far from "Top Chef", but represent his city, this is not the same issue as to represent himself. "
Usually released in late afternoon, the program is available in the evening for the third consecutive year. In 2010, the "Battle of the regions" had attracted an average 2.9 million viewers and 13.2% audience share With the second part of the evening between the candidates for known chefs, who rise up to 40 % market share. "The goal is to repeat the same … if you can!" Smiled the host.In a TV landscape shaken by the appearance of TNT, the erosion of audience is indeed the common lot of most programs. And "Beijing Express", the sixth season ended on July 6 M6 and also presents Stéphane Rotenberg, is no exception to the rule. On average, 2.7 million of the faithful have watched the program this year, 12.7% audience share. "Only 3% of the point of hearing in less than two years ago," Beijing Express "is one of the programs that have best resisted, supports the presenter of the program launched in 2005. With three million members and 14% market share for the final, it is also not very far from our scores there are two or three years, when there were six major channels. And at the candidates, the enthusiasm is still there, since we have already received 20,000 applications for next season. "What convinced the chain of command a new season, and allow the facilitator to reflect on the development of the program. "But we do not revolutionize the program, he says. The challenge is to be creative to surprise, while reducing the budget. "
Starting Agathe LeCaron Top Chef
The show, produced by Studio 89, sometimes receives support from Red Mountain, the production company that Stéphane Rotenberg created in 2006. This example has co-produced the second part of the evening of the show ("Peking Express, The Adventure Continues"). "I know the fragility of the trade facilitator," concedes one that started as a journalist, "so I always wanted to have a second business, behind the camera yesterday and today as a producer." Red Mountain has also produced for the TNT (NRJ12, W9).Thirty-six issues of "Fast Club" were commissioned by the subsidiary of M6 for next season and new episodes of "Convoys to the extreme." With 5% audience share on average and regular spikes in excess of one million viewers, the show imported from England is among the highest ratings of the channel, and TNT. This year, Stéphane Rotenberg has also produced a dozen documentaries for 80 minutes NRJ 12, and is confident about new collaborations. "Working for TNT is not exceptionally profitable, says the producer. What is certain is that the host earns a living as best production company. " Then he nuance: "In the past, producing for TNT was the limit of volunteering. Today, these channels give more and more money because they have more public. They are more ambitious. "
A third season of the program of culinary competition "Top Chef" is on track, despite a question mark on it to replace LeCaron Agathe, the co-presenter of the show which will leave for France 5 in September. "That destabilizes a large chain programs, but we'll find. Moreover, even if there is real competition with "Masterchef" on TF1, I think it is now regarded more as a leader in this field. "
From our correspondent in London
British Prime Minister David Cameron faces his first big Thursday-day strike in the public sector as opposed to pension reform. Approximately 600,000 employees of which a majority of teachers and members of the Border Police should follow suit, causing the closure of thousands of schools in the country and major disruptions at airports.
Trade unions in the public protest against the passage of the retirement age for all staff to 66 by 2020 (it was already 65 years for men and 60 for women) and against the increase in taxes for pensions.
"This will be the biggest social movement since the general strike" of 1926, promised Dave Prentis, general secretary of Unison, the largest union of public service.The country will certainly not be stopped during the great miners' strike of 1926 since the work stoppage will last only twenty-four hours and will not be extended. However, the subject of pensions involves all teachers.So much so that for the first time in 127 years of existence, the union moderate the association of professors and teachers in higher education (ATL), which has many contributors in private schools in the UK, called on its members to participate in a work stoppage at the national level.
800,000 new employees in Blair
During the session of questions to Prime Minister on Wednesday in the House of Commons, David Cameron said "there was no justification to strike as negotiations are still ongoing with the unions guaranteed fast personal loans." But the discussions last minute held Monday at Whitehall with the union representatives were far from successful.The Chancellor of the Exchequer George Osborne is absolutely not ready to make concessions on a reform he described as essential to provide the balance of the pension system, weighed down by the recruitment of 800,000 new staff under Tony Blair . The Ministry of Finance has estimated 10 billion pounds (11 billion) the cost to taxpayers of a postponement of the pension reform.
The austerity is, indeed, the slogan of the coalition led by the Conservatives with the Liberal Democrats since last year. The goal that David Cameron has established with the support of the Deputy Prime Minister Nick Clegg is to eliminate substantially all of the public deficit by 2015, making 81 billion pounds of budget savings over the period.The drastic reduction of public spending is accompanied by a wage freeze for two years and the removal of more than 300,000 jobs in the public service. The main public service union, Unison, has not joined the social movement Thursday, for procedural reasons but promised a seamless mobilization of its 1.2 million members in July and next fall if the government made no concession.
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First day of opening of the Paris Air Show and business already struggling for their full long-awaited appointment of professionals. Before an audience of professionals in the aerospace, Nicolas Sarkozy called the area "to meet the challenges of globalization." "If we're not competitive, there is more than aviation industry, he said. There is only one possible strategy, the challenge of globalization by being more innovative, more creative and more competitive. "
The state has "a role" in the strategic industrial sectors, also recalled the president, referring to the "decades of public investment" in aeronautics and the level of credit facilities granted to the defense "despite the crisis ".So it is "no way" to abandon the research tax credit, assured Nicolas Sarkozy, adding that allocations of "20 billion euros of expenses" provided in the large loan will be confirmed "in a few days " business card templates.
• Boeing signed the first major order
Qatar Airways opened the show Monday orders. The airline, growing, has ordered six Boeing 777-300 long-haul aircraft ER for a list price of $ 1.7 billion. It already has 25 Boeing, including 15 Boeing 777. "The Boeing 777 continues to play a key role in our development strategy," said the CEO of the national airline of Qatar, Akbar Al Baker.
President Nicolas Sarkozy and Valerie Pécresse, Minister of Higher Education and Research, met the head of EADS, Louis Welsh.
P & T are back! As of Monday, fetching their stamps to the Post, the French can also buy a mobile phone package. After Virgin, Auchan, NRJ and the CIC, La Poste launched into the deep end of the phone and returned to his first love. The group will formalize its new offer on Monday morning for the general public in an office of the seventh arrondissement of Paris.
The state shareholder of the Post Office insisted that the tariffs encourage the purchasing power. The offer is built packages blocked packages "voice" and SMS packages and web. Their prices will be aggressive, with voice plans starting from 10 euros a month for 30 minutes or SMS packages, Internet, unlimited emails from 21 euros for two hours, depending on the comparator EDCOM Internet. To bring prices down, the Post Office will be offering "naked" without a phone, with a package in return for cheaper.It should thus not to market the iPhone.
For the Post, this launch is strategically at a time when mail volumes are declining. It comes as the group announced the refocusing of its business in offices on its historic businesses: mail, parcels and bank. Finished stationery, gift boxes, DVDs, books …
La Poste, which is already the leading provider of prepaid cards in France with 500,000 customers and 120 million euros of turnover, is 800,000 mobile customers in 2012. She wants to reach 2 million customers and 500 million euros in turnover in 2015. "This project does not create jobs, worries already Nicolas Galepides, Federal Secretary at SUD-PTT.If this is not the expected success, what will happen to the 3,000 officers who have now agreed to spend most of their time selling phones? ".
Partnership with SFR
In Italy, Poste Italiane has made the same bet, betting also on the strength of its network of 14,000 outlets. In 2007, she launched PosteMobile, becoming the first postal operator in the world to get into the mobile best payday advance. Today PosteMobile claiming almost 2 million SIM cards and a first gain of 5.5 million euros last year. "Apart from the Italian Post, no other major European position has not launched a large scale in mobile telephony," said Guillaume Lacroix, director of postal operations to Arcep. But it is quite logical.French and Italian positions are the only two to have retained the business of banking and at the same time, a very important office network that requires them to develop new activities to absorb heavy fixed costs. "
The Post, which has no network telecom borrow the SFR, with whom he established a joint venture: Post Mobile. Why SFR assistance he and a competitor to gain a foothold in the market? On the one hand, it will affect the profits of the joint venture on the other hand, he will receive the rent for the lease of its network. On the other hand, the great rival SFR is not feared by the Post, which enters the bottom of the market, where positions are held securely. It's Free, who will attack the top market, where the battle is still alive.Finally, SFR, rather strong in the cities, the Post hopes to make its armed campaign to conquer and to counter Orange.
The main advantage of the mobile unit is in fact a network of 17,000 outlets gill France. Tenders will be initially available in the 1000 largest post offices. But the biggest reservoir of customers lies more in rural areas. One key to the success of La Poste Mobile is also the speed at which it will be able to extend its offer for its entire distribution network.
Another issue: what is the role of La Banque Postale in this adventure? It seems for the moment few involved. Yet the success of CM-CIC Mobile, which just passed the 900, 000 active clients and 200 million euros of turnover, showing that banks are legitimized to sell the mobile. And the bank leverage, it could attract young people.
After one hundred years of industrial dominance, the United States are being eclipsed by China. In 2010, the Middle Kingdom has become the leading manufacturing power in the world, according to a study released Monday by the economic research firm IHS Global Insight.
Manufacturing output of China represented 19.8% of the planet in 2010, while the share of the United States stood at 19.4%, according to estimates by IHS. According to the study, the added value of manufacturing output of China reached 1.995 trillion (current dollars) in 2010, against 1.952 trillion dollars for the United States.
"U.S. manufacturing output has rebounded strongly in 2010, with growth of 12.6% in value," writes IHS. That was not enough.Growth 'fastest in China, "and" appreciation of the yuan against the dollar helped the Republic to pass before the United States.
The American more productive
If China now produces more than the United States, they remain the most effective. The study notes that productivity is significantly higher at Uncle Sam "with 11.5 million employees, the U.S. manufacturing sector produces roughly the same value as the Chinese manufacturing sector with 100 million employees."
The mass effect was therefore due to the dominance of the United States Centennial. The latter became the first global manufacturing power at the turn of the nineteenth to the twentieth century. They dethroned the then Great Britain. At the end of World War II, U.S. factories accounted for more than half the production on the planet.But foreign competition and the service sector of the economy of the United States has gradually eroded this rule no fax cash advance.
According to figures from the U.S. Department of Commerce, the share of industry in GDP of the United States follows a downward trend started in 1954. In 2009, it accounted for only 11.2% of the wealth produced by the country, against 28.3% in 1953. At the time of the service sector employs about three out of four assets in the United States, bankruptcy and restructuring of the carmaker General Motors, once a symbol of industrial America, were able to illustrate the difficulties of the country's manufacturing sector.
Second trophy for China
In the long term anyway, manufacturing output in the United States tends to increase in value through productivity gains.Conversely, the rise of the Chinese economy depends on industry, particularly factories, whose production is destined mainly for export.
China wins as well, according to IHS Global Insight, his second trophy of the economic year 2010. In February, she actually won the second place in global economic power surpassing Japan. But the race to GDP (gross domestic product), the United States remains dominant. Their GDP is 2.5 times that of China. The latter should wait another few years before doubling the United States. Probably until about 2025, according to estimates by the World Bank and various financial institutions. And if it manages to overcome its many challenges in the coming years.
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A departure of more at France Televisions. This time, the news is official. The journalist leaves Arlette Chabot France 2 "mutual agreement" with the group, said on Saturday France Televisions. "France Televisions and Arlette Chabot agreed to end its collaboration with France 2," the group said public broadcasting. Arlette Chabot has however agreed to take the next two animated shows "You decide" in March and April 2011.
Remy Pflimlin, CEO of France Televisions since last July, "salutes the importance and quality of work done by Arlette Chabot at France Televisions," the statement said. Arlette Chabot had been away from the direction of news at France Televisions in late August by the new boss of the public.It nevertheless retained its political program "You Be The Judge."
Wave of departures
His departure comes as France Televisions has confirmed last week the new organization intended by Remy Pflimlin. The objective of this reorganization is to restore five channels of group autonomy headed the real operational guidelines. But this reform has immediately triggered a wave of departures precipitates. Arlette Chabot follows in the footsteps of Nicolas Pernikoff, who left the entertainment of the holding company and will be replaced by France 2 Nathalie André Endemol. Other executives of the old team should follow.
If France Televisions do not specify where Arlette Chabot plans to continue his career, some sources have recently hinted that the journalist was in talks to join Europe 1.The information has not yet been confirmed by the radio station, but inside sources told the magazine Tele 2 Weeks that the appointment of Arlette Chabot to the direction of the information would be gained. The journalist was placed in a rank above that of Patrick Roger, who retains his title as executive editor while taking the antenna on the edge 12:00 to 1:30 p.m. instead of Jean-Marc Morandini.
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Objective: to distance vis-à-vis the City. While the controversy bounces across the Channel on lavish bonuses bankers, the government of David Cameron has chosen to burden of 800 million pounds (942 million) the new tax basis on the balance sheets of banks. London is well draw now £ 2.5 billion, when its previous estimates had forecast 1.7 billion. The levy, which applies to UK banks and UK subsidiaries of foreign firms, will bring another 2.5 billion in 2012 and 2.6 billion thereafter.
At first, George Osborne, Chancellor of the Exchequer, had planned a gradual rise of the levy, the successor to the windfall tax on the bonuses that had generated 3.5 billion pounds of revenue in 2010.The idea was to allow banks to replenish their equity perspective of European regulations Basel 3. But the good results of HSBC and Barclays more – 24 billion pounds expected by UK credit institutions – have changed the situation. This tax is "a fair contribution to reducing the budget deficit," said George Osborne.
Waiting for the Merlin Project
Downing Street hardens tone vis-à-vis banks just before the season officially starts do bonuses. Some see a sign that the government has little hope of obtaining commitments of moderation in this respect, as he hoped.Already, information published in newspapers across the Channel on the 9 million pound bonus Advance Bob Diamond, Barclays' chief executive, and Stuart Gulliver, head of HSBC, revived the controversy on recurrent variable remuneration payday loans.
To reconcile the financial sector in general with the public, banks and government have been trying for weeks to complete an ambitious, dubbed Project Merlin. Among its requirements, Downing Street wanted the large banking institutions limit bonuses. With an expected budget of 6 billion pounds of variable remuneration provided, the City does not seem to have listened to the dictates of moderation."It would have been better, when we save the banks, to secure something in return," coward George Osborne: "Unfortunately, I was not the chancellor at that time" …
Westminster also asked HSBC, Barclays, Lloyds and RBS in banking to provide SMEs about 190 billion pounds of loans, just like what the Elysee had negotiated with the French banks to finance the economy. In addition, the British bankers are asked to develop a £ 1 billion fund to build capital for small businesses.
"The discussions are not completed," admits George Osborne, who hopes to increase "substantial and significant" loans to businesses.And say: "I am always confident about the fact that we can reach an agreement with banks expected to increase loans to small businesses and lower bonuses."
CGT denies early departure of Bernard Thibault, announced Thursday morning by Le Parisien – Aujourd'hui en France. The newspaper believed that "tired", the CGT leader since 1999 has decided to leave the ship. "I'm leaving at the end of the year, so that my successor is in place before the presidential elections," reported Thursday morning in the daily framework of the CGT, remarks which were held on December 21 and 22 last to his closest collaborators. Allegations that the secretary general of the CGT was "very clear denial" on Thursday, denouncing "an attempt at destabilization."
"For the future of the CGT and its leadership, we will proceed when the time comes – and it's not yet the case – according to our usual procedures in a collective framework," to elect a successor at he said in a statement.
The assumption of an imminent departure of Bernard Thibault of the CGT leadership is often mentioned yet. Since his re-election to Congress in Nantes comfortable, difficulties have indeed accumulated to the charismatic leader. The failure of the struggle against the pension reform first, opened the way for a reconsideration of the reformist strategy adopted under his leadership over the past ten years. Some federations have seen the failure of a desire to refocus the CGT and make a union of contestation and negotiation instant credit report. The recent decline in the weight of the union in some of its strongholds, such as RATP, EDF, GDF or the Post Office, has been interpreted by opponents as a validation of this hypothesis. By boycotting the beginning of January the wishes of the social partners Nicolas Sarkozy, Bernard Thibault would have liked to correct the situation by hardening his speech.
A three-year term
But other factors may also contribute to an early departure next leader of the CGT. Internally, Bernard Thibault is accused of abandoning the organization. A peak for the CGT: the staff, who complain the level of wages and working conditions, is in open war against management. "Every unhappy tumble in his office. This is evidence of dysfunction of the house, "said one observer Parisien-Aujourd'hui en France. Bernard Thibault, meanwhile, evokes "a fatasme" to destabilize the CGT "after the exceptional action over pensions.
To these difficulties must be added the threats against himself and his family have suffered in recent years. The pig's head stabbed in front of his door and other malicious acts would eventually affect the CGT leader, worried about his family.Many reasons for Bernard Thibault, give way before the end of his mandate in 2012.
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Copper ends 2010 with fanfare
Copper has illuminated the LME for the last week of 2010. Despite the holiday-shortened session, the red metal has distinguished himself by beating his own records. Friday, he hit the 9,675 dollars per tonne, a record level. Its price has more than tripled in two years. He ended the year on an increase of over 30%. In a market where stocks are still considered insufficient, the growth of emerging economies, India and China in particular, focused on the rise.
Tin was also distinguished by an increase to 26,800 dollars per tonne and an annual increase of nearly 60%. The other metals are no exception as evidenced by increases of 31% over the year for nickel, 10% for aluminum and 5% for lead.
Used in industry, base metals have largely benefited from the recovery prospects for global growth in 2011, but also the weakening dollar. Moreover, the idea of seeing the birth of ETFs on the market, like precious metals, has generated much interest markets.
Oil makes up barely to the end of the year
The last week of 2010 has been turned upside for oil prices. Monday was first marked the end of a series of 5 consecutive sessions of gains, at a time when only the NYSE was open (one in London remained closed for the holidays). At $ 91, the course has remained on a higher in two years, but the atmosphere was gone. "The market drops a little ground. There are concerns about China's growth, "then thought Jason Schenker, Luxury Economics.
Thursday was the turning point of the week with the publication considered disappointing in crude inventories in the United States. The crude reserves fell 1.3 million barrels in the U.S., far less than anticipated by analysts (-2.9 million barrels). In addition, stocks of distillates rose despite the cold. These stories have been enough to push investors to take profits. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for February delivery finished at 89.84 dollars on that day, down 1.28 dollars compared to the previous day. In London, Brent crude ended at 92.67 dollars.
Anxious to end the year on the positive, investors were caught on Friday. In New York, oil prices rebounded late in the session, reaching in the final minutes of trade, 92.06 dollars, a breakthrough price since October 2008. In 2010, he was up 15%.In London, Brent crude ended at 94.59 dollars (+22%).
The gold star of 2010
The year also ended with a flourish for precious metals. Gold, who won more than $ 40 in five sessions, ended 2010 to 1420.70 dollars an ounce, not far from its record high (U.S. $ 1,431.25 hit on December 7). As always this year, gold has benefited from its status as a safe haven in a market somewhat reassured by the problems of European debts no fax payday loans. Last week again Italy has sealed off a bond issue at very high rates while rates are still Greek soared. The weak dollar has also encouraged purchases of gold. Some profit taking at the weekend prevented the yellow metal to enter a new record. But according to analysts, the rise should continue in 2011.
As always, the money followed the gold.The gray metal ended higher at 30.63 dollars per ounce on Friday, registering a record high during trading in 30 years to 30.90 dollars. Over the year, he won over 80%.
For its part, an ounce of platinum ended at 1761.50 dollars an ounce Friday and palladium closed at 795.50 dollars. The two signed a very good year in 2010, with respective gains of 17% and 91.41% year on year. In addition to the industrial outlook optimistic, the markets were driven by fears of tight supplies of Russia, world's largest producer.
Cocoa takes a deep breath
Markets of agricultural materials, time was rather cautious. Cocoa prices in particular, have stabilized, although no conclusion has been found in the political crisis in Cote d'Ivoire, the largest producer worldwide.Prices have increased by "only" 12% since the beginning of political tensions since the beans were still able to reach ports and leave the territory. Moreover, other producing countries such as Ghana and Indonesia, are driving the market. On Liffe in London, a tonne of cocoa for March delivery ended down slightly to 2017 pounds on Friday. On the NYBOT-ICE U.S., the contract for March delivery was worth 3,023 dollars per tonne.
For his part, sugar is still flamed last week. Prices are mounted Wednesday until 34.77 cents a pound in New York, a new record since January 1981 due to fears over supply. But prices fell sharply Thursday and Friday, weighed down by a movement of profit taking.
From their side, prices for corn and soybeans have reached their highest levels since August 2008 in Chicago.Dry weather in Argentina, the second largest exporter of corn, fearing the worst for crops. A bushel of soybeans for March delivery finished Friday at 14.03 dollars, rising by 3.2% over the last week of the year. The contract for the same maturity of corn rose to 6.29 dollars (+2.4%) while a bushel of wheat stood at 7.9450 dollars (+1.5%). Note that wheat, boosted drought in Russia during the summer, has gained 45% over the year.
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