Based on list prices, purely indicative, orders placed by the two manufacturers accounted for a turnover of about 23.65 billion dollars (17.85 billion euros) in the middle of the afternoon.

While Boeing has logged 70 orders for aircraft for a total of about 12 billion dollars, Airbus announced Monday it had received 122 aircraft orders totaling nearly 11.64 billion. In detail, the Russian airline Aeroflot has placed an order for 11 A330-300, or approximately $ 2.34 billion.(See

Air Lease Corp., a company leasing and financing aircraft, confirmed it had ordered 31 Airbus A320s (2.52 billion dollars) and 20 A321-200 ($ 1.91 billion), representing a total 4.43 billion for these 51 aircraft no fax cash loans.

"In the current environment, reducing operating costs and fuel consumption, respect for the environment and maximum operational flexibility, are also advantages for the airlines. The latest versions of the Airbus single aisle family go far beyond the highest standards, "said Steven F. Udvar-Hazy, CEO of Air Lease Corporation.

Another company leasing and financing aircraft, Gecas, a subsidiary of General Electric, bought 60 A320 family aircraft for an amount valued at about 4.88 billion dollars.Earlier, Gecas Boeing announced an order for 40 new generation 737s in a transaction valued three billion dollars.

The U.S. giant has also received a command that could exceed nine billion dollars for 30 Boeing 777-300 from the Emirates.

In addition, Boeing has said that India could gain 10-12 additional Boeing C-17 plus 10 already planned.

According to the Deposit and Consignment Office (CDC), withdrawals exceed deposits were $ 310 million. Net inflows (deposits less withdrawals) remains positive on the first five months of the year of 2.49 billion. In late May, are deposited on the Livret A, held by 50 million French people, amounted to 187.4 billion euros.

For its part, the booklet Sustainable Development (LDD) has seen its assets (deposits) to fall by 460 million euros in May

The rate of the Livret A, which is the same as LDD, is blocked since 1 August 2009 to 1.25%, the lowest level since its inception in 1818. However, it should be increased to 1.5% or 1.75% on 1 August, as announced by the Minister of Budget Baroin.

Even increased, the rate will remain below the 4% achieved two years ago.

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Like last week, the attraction of gold can not be denied on the markets. Despite the aid plan of 750 billion euros earmarked by the European heads of state, investors worried and rushed to gold. The gold chains the record: the rising price ended at 1249.40 dollars, never seen on the London market which serves a global reference. On the London Bullion Market, an ounce of gold ended Friday at 1236.50 dollars at auction Friday night, cons 1202.50 dollars the previous Friday.

In its wake, the money is increased to a level it had attained over the past two years.The gray metal rose Thursday to 19.64 dollars, not far from $ 20 per ounce reached in March 2008, to finally finish the week at 19.64 dollars Friday.

Stimulated by the gold and silver, platinum group metals have rebounded after falling last week, victims of the strengthening dollar. On the London Platinum and Palladium Market, an ounce of platinum finished in 1721 dollars Friday. In turn, an ounce of palladium finished $ 536.

The dominant concern in oil markets

The continued turmoil in oil markets. The prices fell Friday to their lowest levels in three months to 70.83 dollars. On the Nymex, a barrel of light sweet crude for June delivery finished at 71.61 dollars, down 2.79 dollars compared to Thursday. Prices have been a difficult week, leaving more than $ 5 in four sessions.They are well below the levels of early April, when the barrel was mounted to $ 87. In London, Brent crude ended Friday at 77.20 dollars, yielding 2.93% on the week.

As the equity markets, the euphoria that had raised prices Monday has not taken very long. The markets saw a dim announced the austerity policies that could lead to a slowdown in oil demand. Moreover, the continuing fall of the single European currency, which fell Friday to its lowest level since October 2008 (1.2359 dollars), weighs heavily on the markets.

In addition, crude oil reserves rose 1.9 million barrels during the week ended May 7, two times more than expected.

Week of mixed fortunes for base metals

On the London Metal Exchange (LME), the week has been more troubled.Investors fear the rigors of European policies that could dampen growth. In addition, China has caused confusion by announcing lower than expected macroeconomic data: the rate of growth of China's industrial output slowed in April, rising 17.8% year on year, after 18.1% March.

Copper, considered a barometer of the market ended the week slightly up to 6955 dollars per tonne. The aluminum stabilized this week at 2,093 dollars per tonne against 2,090 dollars the previous week.Zinc, nickel and lead have declined by 1.8% to 2.050 dollars per tonne, from 3% to 21,650 dollars per tonne and 2.4% in 1950 dollars.

Agricultural raw materials: sugar recovers

On Liffe in London, a tonne of white sugar for August delivery was worth 470 pounds on Friday against 435.80 pounds a ton for the same term last Friday. On the NYBOT U.S. a pound of raw sugar for July delivery was worth 14.88 cents against 13.64 cents a week earlier. But the euphoria is unlikely to last. The International Sugar Organisation (ISO) said Thursday he expected a surplus in 2010-2011 of nearly 2.5 million tonnes. Production is expected to grow in Brazil, India, Mexico.

For his part, cocoa was penalized by the strengthening dollar and profit taking. There is also an expected production increase in Brazil.Prices fell to 2,212 pounds per tonne in London and 2852 dollars in New York, respectively, the lowest since three weeks and a month. They ended the week at 2,232 pounds on Liffe and 2858 dollars on NYBOT.

Moreover, prices of wheat, corn and soybeans fell this week in Chicago, penalized by the rapid advance of planting in the United States. May 2, 68% corn, 60% of spring wheat and 15% of soybeans had been planted against respectively 40%, 47% and 8% on average over the past five years. In addition, the rising dollar makes U.S. production less attractive to export than those in Europe. The contract of corn for July delivery ended Friday at $ 3.63 and lost 2.4% on the week.The contract of soybeans in the same maturity fell to 9.53 dollars per bushel (-0.7%) while the wheat contract ended at U.S. $ 4.71 (-7.6%).

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A contract which seems small in relation to the size of the division payment at Gemalto.But "this announcement is very important symbolically," noted analysts at Natixis, surprised that the stock price does not react.

For the group at 1.65 billion euros in turnover in 2009 made his first steps on American soil that could well decide to finally initiate the transition from magnetic stripe cards – which are the subject of a high fraud rates – to smart cards adopting EMV (Europay, MasterCard, Visa) to pay around the world and securely.

For the strategists of Natixis, the bank card market with a microprocessor in the United States has "a potential 1.5 billion cards.

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Between degradation rate and retention Note

During a joint press conference yesterday, Jean-Claude Trichet, president of the European Central Bank, and Dominique Strauss-Kahn, director of the International Monetary Fund, have called on Germany to take an expeditious decision on aid Greece. Both men say they are confident. German Chancellor Angela Merkel seems he heard the message, since it has declared its intention to activate "as quickly as possible" aid plan.

Fortunately, a decision from the United States has been somewhat reassure financial markets. The Fed has indeed confirmed keep interest rates low for a "prolonged period". And this, despite a rapid recovery of the economy.In this context, the Paris markets are cautious. Around 10:30 am, the CAC 40 rose 0.52% to 3806.81 points. At the London Stock Exchange, the FTSE-100 gained 0.55% to 5617.19 points, the Frankfurt Stock Exchange, the DAX 30 in advance from 0.30% to 6102.59 points.

After two sessions of sharp declines, the bank stocks are returning to earnings. BNP Paribas gained 1.55% to 51.77 euros, Dexia advance of 1.22% to 4.15 euros and Societe Generale was up 0.45% to 41.10 euros. In contrast, Credit Agricole, which said Wednesday night that its exposure to sovereign risk in Greece amounted to EUR 850 million, lost 0.32% to 11.02 euros.

CAC 40: Pernod-Ricard in mind, PPR red lantern

Among the values that have posted Wednesday, PPR has returned to growth in the first quarter after five consecutive quarters of downturn, and said Tuesday anticipate a further acceleration in sales during the year. However, PPR shares fell sharply from 2.65% to 101.20 euros, the biggest drop in the CAC 40.

The Thursday is rich in quarterly publications: ArcelorMittal (-1.80% to 30.58 euros) reported a net profit decline of 36.6% in first quarter 2010 over fourth quarter 2009.

France Telecom (1.44% 16.57 EUR) has published a turnover down 2% in the first quarter of 2010, in line with market expectations.

The result of Sanofi-Aventis (-0.67% to 51.53 euros) rose 9.7% to 2.4 billion euros in first quarter 2010 against a consensus of 2.28 billion euros.

Bull (0.62% to 3.23 euros) saw its sales boosted by the acquisition of Amesys, a company specializing in security systems: its sales rose 9.4% against 0.6 % off-Amesys.

Pernod Ricard has announced an increase of 14% of its turnover for the third quarter of 2010 of its fiscal year 2009-2010 to offset 1.5 billion euros.Pernod Ricard shares climbed 3.70% to 65.32 euros, the largest increase in the CAC 40.

The results of Vivendi (0.87% to 19.61 euros), AXA (-0.89% at 15.01 euros), Bouygues (0.60% to 36.89 euros), Areva (-1, 32% to 375 euros) or Michelin (-0.38% to 52.30 euros) are also expected.

Renault (-1.47% to 34.24 euros) has announced the acquisition of interests between the group, its Japanese partner Nissan and Germany's Daimler had been made Wednesday. The three groups have formalized their alliance in early April for three to share technologies and reduce costs.

The U.S. unemployment statistics in the heart of the day

On the macroeconomic front, the day will, however, less responsible.By midmorning, the German Federal Labour Office has reported a decline of 68,000 in the number of jobseekers in seasonally adjusted data, to 3.285 million, while economists were expecting an average decline of 10,000. Around 14:30, the investors will also monitor the weekly claims for unemployment benefits in the United States, and economic confidence in April in the euro area.

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Geoffroy Roux de Bezieux bench since its announcement in Le Figaro that he would not seek the presidency of the MEDEF, the campaign was revived with the announcement this morning.

"I want every business in France feel represented by the MEDEF" said one who had resigned just last year the ethics committee of the MEDEF. He added: "This is not the case today. The balance of Laurence Parisot is great, but it must go to the conquest of public opinion. I'm an activist and I will speak in the media. "

The high-profile president of the employers' movement Ethic acknowledged that 2009 has been difficult for the bosses. "They were attacked from all sides. To be closer to public opinion, he must reinstate a debate on the business cash advance payday loan. And for that, it is better to have two candidates. "

"The MEDEF has more need of me than I of him"

On the issue of pensions, Sophie Menthon supports the position that Laurence Parisot has urged the government Sunday to push the legal age of retirement.

Sophie Menthon appeared hesitant when she had to clarify whether it would have the 50 signatures needed to be sponsors of the presidential candidate of the MEDEF. "I think so. I am driven by entrepreneurs.The MEDEF has more need of me than I of the MEDEF, "she says.

The campaign for the presidency of the MEDEF was launched last week by its current boss, Laurence Parisot, who is seeking a second term.

Candidates have until May 1 to declare the election to be held on July 1.

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"Nord Stream is a key element of security of supply, without any transit countries, welcomed Mestrallet early March on the occasion of the Paris visit of Dmitri Medvedev.The Baltic pipeline will in fact Russia to deliver Europe (which represents 80% of its gas exports), bypassing Ukraine, a transit country whose relationship has been adversarial with Moscow until the election February's pro-Russian President Viktor Yanukovych. Nord Stream also avoids another export route, via Bi?olorussie-ally-capricious and Poland.

During the visit of Russian President in France, Gerard Mestrallet had welcomed the historic relationship of GDF established with Gazprom for thirty-five and secure supply contracts until 2030. But everyone in Paris does not share this idyllic vision of the relationship with Russia, the leading exporter of natural gas."Europe is dramatically dependent" for its gas, alarmed Stoffa?s Christian, chairman of the Center for Future Studies and International Information (CEPII), who has written a report on the subject on behalf of the Council Strategic Analysis, a body attached to Matignon. If the 145-page document provides a finding widespread evidence of the vulnerability on its European gas supply, Christian Stoffa?s was accompanied by comments not always diplomatic in presenting Friday empire payday loans. The risk of dependence is not one of supply disruption, Stoffa?s analysis, but it "weighs on the minds of Europeans and creates tensions." Europe currently imports 60% of its gas needs, 25% in Russia.The depletion of fields in the North Sea and the growth of demand should increase this dependence. Christian Stoffa?s regrets unvarnished recruitment by "providers" of former European leaders, referring to the former German Chancellor Gerhard Schroeder, who became chairman of the board of shareholders of Nord Stream. "The importers are under blackmail from Gazprom but do not want bureaucrats in Brussels", Assen yet the author of the report. The former director of Foresight EDF considers that the Ukrainian crisis for most of 2006 and January 2009, when the tap was actually closed, the awareness of the need for joint action gains little from the Old Continent little.

"A real strength of negotiation"

The report recommends Stoffa?s among six recommendations, the creation of a Central European call.It takes up an idea put forward by Nicolas Sarkozy in his speech of May 5, 2009 at Nimes, "I want to bring the idea of a central European purchasing gas for Europe is a real strength in negotiations with its suppliers. "Jacques Delors, former President of the Commission, which is close Stoffa?s Christian, has just called with the same strategic objectives of independence, the creation of a European power, in a preamble report published by the think tank Notre Europe. The fact is that "the sellers are the condition of the sale," admitted recently Jean-Francois Cirelli, vice-chairman of GDF Suez.Stoffa?s Christian is convinced that even if the process takes years, "if there is political will, the companies will be happy to be less dependent on Gazprom.

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Jeffrey Gundlach, former chief investment officer at Trust Company of the West (TCW), claiming 1.25 billion dollars (about 940 million euros) to the 100% subsidiary of Soci?t? G?n?rale, it is stated in the document Reference Societe Generale on page 204.This corresponds to 1.4 times the net profit recorded in 2009 – or 678 million euros – the bank chaired by Fr?d?ric Oudea! "This amount is totally surreal, the goal is to impress," said Jacques Ripoll. "Do you realize, this is equivalent to 30 pay by Jeffrey Gundlach. Over the past five years, Jeffrey Gundlach won $ 134 million and 40 million for 2009 alone.

"A very marginal impact on Societe Generale"

It all started last December 4 when TCW, which manages $ 115 billion in assets, bought one of its competitors, MetWest. But it is his manager, Tad Rivella, which takes the place of Jeffrey Gundlach, dismissed. A transition that is grinding his teeth. And that degenerates in litigation before the courts.

Last January, WCA filed a complaint against Jeffrey Gundlach to whom she seeks 200 million dollars in damages. A month later, the American manager responds with a cons-complaint in which he stated that TCW would not honor a verbal agreement on his employment contract, his salary and that of his collaborators. For Societe Generale, there is no question of compromise. "Today, more than in the past, we no longer want to be taken hostage by managers or traders who, by their deviant behavior, put their interests before those of the group. Frederick Oud?a has made his war-horse, "said Jacques Ripoll.

After a difficult 2009, Societe Generale was slow to emerge from the crisis. "The case Jeffrey Gundlach have a very marginal impact on the accounts of Soci?t? G?n?rale and its shareholders.In the long term, our ethical and responsible decision (to have dismissed Jeffrey Gundlach, Ed) will be very positive for our shareholders. " "The worst is behind us," concludes Jacques Ripoll.

TCW: an IPO, no surrender

In a context where Societe Generale seeks to distance himself with the business of asset management, this case does not fall more, especially since the bank is considering introducing its subsidiary American Stock Exchange. "The IPO of TCW is not on the agenda today. We will consider that once the full potential of TCW implemented. In this regard a doubling of assets under management is a worthy goal for our team. In the two years ahead, our goal is clearly to help TCW to develop. Moreover, the IPO of TCW does not mean we want to cede control.

The bank hopes to delay an end to this matter before scheduling the operation, which could be followed by another IPO: that of Amund. Last December, Soci?t? G?n?rale merged most of its activities in the sector with those of Cr?dit Agricole to create Amund, the number three European asset management after Allianz and AXA, and prompted to enter the stock market " within five years. " An operation that TCW has been kept out, only 20% of capital has been brought to the joint venture.

Between 700 million and 1 billion of additional losses

At a conference with investors organized by Morgan Stanley, Frederick Oud?a, President and CEO of Societe Generale, confirmed Wednesday, according to Les Echos, the bank may suffer in 2010, additional losses of 700 million to 1 billion euros related to its portfolio of toxic assets. This portfolio contained at December 31, 2009 to 35.5 billion euros of risk weighted assets.

In addition to his 2009 results, published last January, Societe Generale had announced that its portfolio of illiquid assets, whose value reached 37 billion euros at end December 2009, generated a net loss of 2.8 billion over the year, including $ 1 billion in the fourth quarter alone.

No recourse to IMF

For Nicolas Sarkozy, not "the future of Greece" is at stake is that of Europe. "The euro is our currency, it is our responsibility," he said, before announcing he would, with Angela Merkel and Jean-Claude Juncker – that has had the phone Monday – quickly "take specific measures "to fight against speculation on the euro, but say more. "We are ready and very determined, he has merely stated. Speculation that plays against Greece can happen in many countries if they can not afford to fight.We must not add a financial crisis to economic crisis itself created by financial excesses across the Atlantic. "

For his part, George Papandreou thanked his "friend" Nicolas Sarkozy for his "commitment and support staff" to help his country out of crisis. "If the speculative attacks against Greece continues, it will not be a Greek problem, but an attack against Europe and the euro," confirmed the Greek Prime Minister, who preferred a "European solution" to a possible appeal International Monetary Fund (IMF). "We do not loan to other countries in the euro area," said George Papandreou. We just want to borrow at rates similar, not identical, to other countries in the euro area.We're just asking a fair treatment. "Greece, which on Thursday lifted 5 billion market, will pay 750 million euros of interest than Germany for a loan of similar amount. "This is not viable, late Greek Prime Minister. This is not competitive. "

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"In the lull of summer, we were only 1 400 pounds per tonne. The market has changed dramatically since the funds are interested. It is not uncommon to see variations of 8% in one day, "says Jean-Paul Burrus, president of Salpa family group, owner of Chocolatier La Marquise de Sevigne. "Previously, that happened only when the coup. But now, the market became very volatile and there are more rules.We need to cover by buying futures a year, "says the businessman who uses each year 1 000 tonnes of cocoa from C?te d'Ivoire, Trinidad or Venezuela.

Global consumption is around 3 million tonnes per year, representing 3 to 4 billion euros turnover per year. What makes cocoa the third tropical agricultural commodity exchanged most, behind sugar and coffee.

Several factors explain the high rating current cocoa prices. First of growing speculation. "Since late August, there is renewed interest in risky markets and hence for agricultural commodities, said Vincent Geiger COUTIER at New Edge. They have the attraction of funds, because they represent a good bulwark against the inflationary pressures in a recovery scenario and good coverage on the foreign exchange market.The currency in which they are denominated, the dollar and the pound collapsed. "

Tensions on the course

In addition, there are factors specific to the cocoa market. "For five days, a strike is raging in C?te d'Ivoire, the largest producer with alone one third of the world's cocoa, and it is unclear whether the country will produce the psychological threshold of one million tonnes. Enough reason for a little more tension on the course.

Demand side is the explosion. Celebrations New Year approaching. "We sell more than half of our chocolates at Christmas," said Jean-Paul Burrus. Furthermore, new players entered the market with a consumption curve exponentially. "With rising living standards, demand is increasing in China and India," says Vincent Geiger.In Europe, sales also rose, perhaps because of the crisis, chocolate is considered by many as the best antidepressant!

In fifteen years, the French consumption has almost doubled from 4 to 7.5 kilograms per year per capita. It is still a few bars of Swiss, European champions with 11 kg. But ahead of Italy and Spain, with only two kilos.

Finally, the greedy have to fear a surge in prices of the tablet or small box? Hard to say, for Vincent Geiger. This will vary from one industry to another, as was more or less well covered against the higher prices for financial instruments and is ready or not to trim its margins. Strategies very secret. The Marquise de Sevigne excludes any increase in the short term, being forearmed against this risk.In addition, prices are fixed for a long time for some commands, such as works councils.