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U.S. stock markets end the week without direction. The Dow Jones lost 0.29% to 11,063 points at the close on Friday, the Standard & Poor's, meanwhile, gained 0.20% to 1176 points while the Nasdaq 100 jumped 1.37% to 2469 points.

For the week, the Dow Jones takes only 0.51%. The S & P advance of 0.95%. The Nasdaq, however, managed to gain 2.78% over the last five days.

This Friday, investors were initially reassured by the president's speech to the U.S. Federal Reserve, Ben Bernanke. According to the latter, high unemployment and low inflation are calling for further easing of monetary policy in the United States."There should be, all things being equal, reasons to act again," he said in a speech prepared for a conference organized by the Federal Reserve Bank of Boston.

Consumer confidence at lowest since July

But current macroeconomic particularly busy day, disrupted markets. The indicators are in fact highly anticipated mixed:

– Retail sales in the U.S. rose for the third consecutive month and more than expected, 0.6% from August, according to official figures released in Washington.

– The increase in new orders and deliveries resulted in a much stronger growth than expected manufacturing index from the Federal Reserve Bank of New York in October. The index of activity called "Empire State" appears to 15.73 in September against 4.14 and 6.50 expected by economists polled by Reuters.

– Consumer prices rose 0.1% in September, less than expected. Inflation appears unchanged from August, while economists expected a rise of 0.1% for the Core and 0.2% for the core index.

– U.S. consumer sentiment has deteriorated further in October, against all expectations, falling to its lowest level since July. The index of consumer sentiment stood at 67.9, against 69 expected by economists polled by Reuters. It was at 68.2 last month.

– U.S. business inventories rose 0.6% while economists polled by Reuters had forecast a slightly lower increase of 0.5%.

– The budget deficit of the United States has declined over the whole of fiscal 2010 ending late September to about $ 1.294 trillion dollars, or 8.9% of GDP, according to official figures released Friday

On the foreign exchange market, the dollar rebounded against the euro. The single European currency traded 1.3975 (-0.34%) at the time of closing.

Google exceeds $ 600 per share

The side of values, the internet group Google has done a good meeting. Titles finish the day on a leap of 11.19% which leads the stock above the $ 600 per share to 601.45 dollars. A first. Investors are reassured by the results released Thursday evening. The group reported a net profit increase of over 32% for the third quarter, well above expectations at 2.167 billion dollars.

In contrast, Google has again refused to advance profitability figures from YouTube, merely greeting a 50% increase over one year the number of viewings of "videos monetized," that is to say paid through advertising, to 2.5 billion per week.

Always on the side of values, the microprocessor manufacturer AMD (-0.27% to 7.12 dollars) on Thursday posted a net loss of $ 118 million in the third quarter decreased compared to that of 128 million a year earlier, exceeding analyst expectations, thanks to good margins.The group's turnover stood at 1.618 billion, up 16% over a year and slightly above Wall Street expectations.

The U.S. conglomerate General Electric (-5.01% to 16.30 dollars) net profit down 18% to $ 1.98 billion in the third quarter, but excluding the results of ongoing activities assignment, the group is parvenur to earnings per share above market expectations. In contrast, its revenue disappoints.

In addition, U.S. bank stocks still suffering the possible impact on the results of an extensive survey on foreclosures. At the close, the index of bank stocks U.S. KBW c-2.37%, driven lower by Bank of America (-4.92% to 11.98 dollars), Wells Fargo & Co (-4.61 % to 23.58 dollars) and JPMorgan (-4.05% to 37.15 dollars).

The 50 states have opened on Wednesday a joint investigation into the practices of the mortgage industry, an initiative that could, according to some experts, threaten the recovery in home sales.

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On Wednesday, the watchword union in the oil sector is clear: "We are moving towards a hardening of the movement," said an official CGT. In all refineries are being held general meetings to decide on the renewal or otherwise of the strike. Nine sites are already on strike or disruption of which seven are shutting down production. Early this morning, employees of the Total refinery Feyzin, near Lyon, have decided to renew their protest, and the shutdown of production has been initiated by management due to staff shortages. According to David Faure, CFDT representative and secretary of the company, "the cessation of production has been voted" and should begin to be implemented "in the morning" fast cash without a hassle.Those are now all refineries Total group who are shutting down production, "but for mutiple reasons," said a spokesman for the group.

The strike at the port of Le Havre could nail aircraft ground

While in most refineries are the strikes of employees that resulted in the shutdown process of production units, however, the Mede, near Marseille, the units went on strike on Sunday, "for lack of crude supply "oil terminals at Fos-Lavera is blocked by dockworkers strike.

Mehdi Rachid, elected to the CGT Total refinery at La Mede described the situation:

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Is heard: the processions are, once again, provided this very Tuesday against the pension reform. The unions, Unite, called the strike and demonstrations, think together "at least as many people as in the past three days," according to Eric Aubin (CGT). Between one and three million people. Almost 250 shows are announced. The strike rate may however experience some erosion, because the repetition of days not paid beginning to be felt in the wallet.

Suddenly, the minds are already thinking about the events.The next day of action – Saturday, October 16 – she will experience the same enthusiasm? Before that, the strike will she greatly renewed tomorrow, especially in transport? If yes, how does it interfere with users, and she will risk of losing popularity? Ultraprudents, officials confederations are careful of any. "Employees will decide for themselves, not for us to do it for them," said Eric Aubin. One way not to get wet, keep the Elysee. "This union democracy, in line with what we decided at our last convention," he defends the head of the CGT. "This is not the army, we are not a few generals who give orders to hundreds of thousands of soldiers," said Jean-Louis Malys (CFDT).In reality, neither the one nor the other of two major employee organizations wants a renewed motion, after some manageable, ensures a regular contact with union leaders from … PS.

"Baroud d'honneur"

More fundamentally, what happens if the engagement remains strong, but the government is to vote the text without further amendment, as he now trumpets? "I do not know, confessed last week Jean-Claude Mailly (FOR). We are not in a scenario written in advance. "I do not want to believe, employees demand more than ever the withdrawal of 62 years," says Eric Aubin, who rejects any notion of "symbolic gesture" that Tuesday. But he knows that giving up this point would be political suicide for Nicolas Sarkozy.

CFDT seems more anxious to find a way out.Tuesday "will be one of the last opportunities to reverse the government," warned its leader, Francois Chereque. While adding: "Whatever the government do, we won the battle of public opinion. Employees, the French say: "This reform is unjust." "The Executive could make a move on this theme, still wants to believe Jean-Louis Malys. For example, opening the door to a rethinking of the entire pension system, to go toward the single plan desired by the Central Reform to reduce inequalities – which does not imply that he denies, since s 'act necessarily a measure of long-term, beyond the year 2018 set by the reform.

The employers also made its voice heard on Monday.In a statement full of irony, CGPME filed a "notice of ras-le-bol", saying that "private sector employees, most affected by the inevitable pension reform will once again penalized" by the paralysis of transportation. And warn the government against the temptation to "increase the concessions that could turn into … a reform called reform." "All this contributes to a degradation very damaging for us all to our reputation," lamented his side Laurence Parisot, the president of MEDEF.

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Chinese markets accelerate. And this, despite the poor U.S. unemployment figures released Friday afternoon. After a week of closure because of the Chinese national holiday, the Shanghai Stock Exchange was closed Friday up 3.13%. On Monday, she keeps going, climbing 2.45% to 2939.43 points. As for the Stock Exchange of Hong Kong, it rose 1.22% to 23,223.77 points and sign a new high since July 2008. Due to the day of Physical Education (Health and Sports Day), which is a holiday in Japan, the Tokyo Stock Exchange is closed Monday.On Friday, the Nikkei 225 had closed down 0.99% at 9588.88 points, hit by a yen held steady at a record high against other currencies.

Pending action by the U.S. Federal Reserve on Tuesday evening, which could reinforce its policy of monetary easing, China's markets are driven by the commodity sector: Aluminum Corporation of China gained 2.4%, China Shenhua Energy to advance 2.8% and CNOOC captured a 3.4% increase easy to get unsecured personal loans.The group American Petroleum gas Chesapeake Energy announced Sunday an agreement with China's CNOOC, which will pay $ 1.08 billion in cash for a third of its 600,000 acres (243,000 hectares) in the field of oil shale Eagle Ford Shale in Texas (southern USA).

In other areas of the region, the Seoul stock exchange is in equilibrium at 3989.28 points, ahead of Sydney by 0.22% to 4691.80 points, 0.50% Bombay allows itself to 20,351.67 points and Singapore was up 0.34% to 3164.05 points. Only Taiwan was down 0.44% at 8208.26 points.

Crude prices were on the upside Monday in electronic trading in Asia, and the expectations of intervention by the Federal Reserve, analysts said.

In morning trading, a barrel of light sweet crude for November delivery gained 42 cents to 83.08 dollars.

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The Paris markets held their breath all week. 14:30 vednredi this were published figures on U.S. employment, as expected.

Blow: the U.S. lost jobs in September for the fourth consecutive month and at a pace much faster than the previous month. The economy has destroyed 95,000 more jobs than it created in that month, says the official report on employment from the Labor Department. The number of jobs lost has increased by 67% compared to August.Analysts believed instead that the country was back in September in the balance with a zero balance of creation or job destruction.

Despite the destruction of jobs, the unemployment rate remained steady at 9.6%, the ministry said, while analysts predicted they would go back to 9.7%.

The CAC 40, which started the session on a slight decline from 0.18% to 3763.35 points, had just returned to equilibrium before 14:30 before diving. The index lost around 15 hours, 0.76% to 3741.9 points.

Exchange side, the dollar has rebounded with this hit. The greenback is a safe haven, and when the United States go wrong, the perspectuives for the rest of the world are deteriorating, which increases the risk aversion of investors protect themselves by achtant the doller, which is assessed .Instead, the euro fall under $ 1.39 after touching the bar to $ 1.40 Thursday to 15 hours.

This morning, Asian markets were also very hesitant.Yesterday, Wall Street was in the same state of mind, ending a volatile session without direction, despite the publication of quarterly results from Alcoa, the first of the season, which was considered good.

In addition to the employment numbers, operators will be attentive to wholesaler inventory to be published by the U.S. Department of Commerce.

The German trade surplus decreases

Before that, the French budget deficit figures for August have been published: it thus reached 122.1 billion euros at the end of August, against 127.4 billion a year earlier, reflecting the economic recovery and stimulus of 2009, according to the Budget Ministry.

German exports fell for the second straight month in August after two months of strong growth.Exports fell 0.4% on a seasonally adjusted from July, while imports rose 0.9%.

As for currencies, the euro is rising against the greenback in morning trading: a euro is worth 1.3943 dollars, up 0.14%. Thursday afternoon, the euro surpassed the symbolic threshold of $ 1.40.

Sanofi was ready to offer more for Genzyme

As for values, the series Sanofi-Aventis (-0.33% to 48.885 euros) / Genzyme continues check cash advance.Thursday, Constable American Stock Exchange, the SEC has received a document stating that the owner of the French pharmaceutical group, Chris Viehbacher, had informally discussed the possibility in September to spend up to $ 80 per share to acquire the U.S. company, before opting for surgery with a hostile bid lower at $ 69 per share.

The new CEO of AXA France (-1.01% to 13.21 euros) for his part, outlined his goals: he wants to redress the group's profitability in insurance damage and accelerate its growth in health, pension and savings retirement.

The bank is also misguided. Red lantern ACC in early trade, Societe Generale lost 1.07%.BNP Paribas and Credit Agricole retreat respectively of 1.28% and 1.64%.

As for oil stocks, Total (-0.55% to 38.3 euros) still faces a strike by oil terminals in the port of Marseilles-Fos. The seven refineries are supplied by the terminals are close to the fuel.

The Chief of Air France-KLM (-0.90% to 11.6 euros), Pierre-Henri Gourgeon, gave an update on the sector and competition. He believes that the challenge of the next decade for European airline companies would resist the Gulf as it considers very offensive. "They are desperate to create activity. They spend lavishly.They have the willingness to take market shares of European companies, "he added, questioning the ability to resist the three major European, Air France-KLM, Lufthansa and British Airways.

CGG Veritas (-3.55% to 16.45 euros) announced an availability rate of its vessels for the oil sector was 87% in the third quarter. This compares with a rate of 92% in the second quarter and 90% in the third quarter.

Manitou (5.70% to 12.895 euros) signs one of the largest increases in the CAC Mid and Small 190 Friday at the Paris Stock Exchange after raising recommendation of Oddo Securities. The broker went to "accumulate" cons "ease" and raised its price target to 15 euros to 10 euros cons after a private tour of the company.The analysis bureau said that the company has "a healthy financial structure returned" and that it has "an absence of signs of relapse of the application areas of improvement still significant risks and suppliers in control. "

The Court of Appeal of Paris has temporarily suspended the buyout offer of Autoroutes Paris-Rhin-Rhone of the Paris Stock Exchange until its decision on the application for cancellation of the operation made by the department of Saone -et-Loire.

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Purchasing a home he would have set a shot in the ankle? in a forthcoming report, and unveiled on Thursday by the daily Les Echos, the Center for Strategic Analysis (CSA) establishes a correlation between unemployment and homeownership rates. According to the findings of Clement and Mahdi Ben Jelloul Schaff, two economists from the body attached to the prime ministry, "countries with the highest rates of home ownership are at the same time, those familiar with unemployment rates higher" .This observation is easily explained by them: the fight against unemployment through greater residential mobility of employees, ownership of an apartment or a house becomes troublesome when it comes to anchor a new search ext.

Of course, in France, where the proportion of owners is far below the European average, the property is not sufficient to explain the high unemployment rate. Economists point out however that the correlation is still visible. "If we compare individuals of the same socio-professionally in France, a homeowner takes longer to find work as a tenant, the duration of unemployment is about 30% higher, resulting in a higher proportion of unemployed among the tenants of the same socio-professional category, "says Clément Schaff business card design.

Obstruction of taxation

CAS does not take much to jump to conclusions. For the body, the France of owners required by the President of the Republic is not bad in itself, but this idea requires accommodations. To find a job elsewhere, the owner must indeed be consider selling his property and therefore pay transfer taxes, or rent it and in this case pay both rent for his new residence and tax on rental income that it collects.

The report examines various proposals to address this dilemma. It advocates the establishment of the deductibility of rents paid by tenants of landlords rent receipts, and relief transfer taxes.In return, local governments who receive those rights could raise a new tax so that local people are not moving only to pay mobility.

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Urban transport in the provinces, through the voice of the CGT federation, filed a strike notice covering the period from October 12 to 30. The announcement came a day after the announcement by the same union a notice of indefinite strike from October 12, when the new day of action organized by trade unions in the Paris Metro (RATP).

In railways, major unions have to decide Wednesday how Action 12. CGT is also the first organization, it would support "if the railroad are not alone" and if "other strategic sectors" below. Same speech in chemistry and in particular at Total.

Aviation sector: 24 hours of strikes

The CGT also warned that a strike will occur in air traffic control, airports in Paris, "even in some of motorway networks" Oct. 12."The employees of trucking goods are also ready to mobilize to go" from that date.

According to the union, employees' to determine from 12 the action they give to movements with the possibility of targeted sites to economic and strategic, based on the consideration by the President Republic, the government and parliament demands and expectations expressed since the spring. "

Tuesday, opened the debate on pension reform in the Senate.Labour Minister, Eric Woerth, was immediately informed that "the government would not reconsider raising age limits, that is to say 62 years for the statutory retirement age to 67 years no discount for a departure, "because this is essential to balance the system," he added.

Call for general strike

Having managed to take to the streets Saturday between 900,000 and 3 million for the third time in less than a month, the unions believe have broad popular support (71% of French people supported the event on Saturday in a survey).

The secretary general of the CGT said Bernard Thibault told AFP Tuesday that "the principle of work stoppages should be discussed everywhere," because the dispute over pensions has entered "a new phase."

He said "we are entering a new phase of conflict, because of its duration", the latter having begun, he said, "in May" and had "made that up in intensity." He estimated that those who participated in demonstrations or local initiatives or signed petitions, the movement being "committed tens of millions of people."

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"The French are now discovering that the first letter of Bric is B!" The remark has amused Fajole Eric, the director of Ubifrance in Sao Paulo, referring to the term coined by the bank 'Goldman Sachs to describe the four major emerging countries, "Bric" as Brazil, Russia, India and China. Entrusted by Paris to support companies exploring for the Brazilian market, the agency is overwhelmed by requests to the point of hiring new executives. The growing attractiveness is a sign of many of the economic success of President Luiz Inacio Lula da Silva, whose successor will be elected tomorrow – or October 31 if a runoff is necessary.

With 450 companies, the French presence in the Latin American giant is nothing new. Brazil concentrates 37% of the commercial activities of the Hexagon in Latin America.But the fascination with Asian markets, coupled with repeated crises in the region, has long limited the enthusiasm of newcomers.

The situation has changed. Growth above 7% this year, the unprecedented reduction in inequality during the two mandates Lula battalions enabled the emergence of new consumers. In eight years, 31 million people have left poverty to become members of the middle class. "It's the equivalent of a half-France, and it is expected that 36 million poor people to do the same by 2014," Analysis Marcelo Neri, an economist at the Getulio Vargas Foundation.

Major sporting events

The mutation has allowed large groups to give a boost. Lafarge is the case, fell from seventh to third in the cement, or Leroy Merlin DIY market leader."Brazil is one of the most promising markets for L'Oreal No teletrack payday loans. The cosmetics industry continues to expand, thanks to the rapid development of the middle class, "said Francois-Xavier Fenart, director general of the Brazilian subsidiary. Despite the global economic crisis, L'Oreal ended 2009 in a country where beauty and looks are like nowhere else, with an increase in turnover of 15%.

The novelty is that SMEs, long afraid of Brazil, decided to put up. "Until 2007 we had a hard time getting companies to meet the industry shows now being denied the world," says Eric Fajole. All sectors are at the party, with particular emphasis on pharmaceutical, agribusiness and infrastructure.Everyone has in mind the World Cup football in 2014, and the Olympic Games in Rio de Janeiro in 2016.

Head of consulting for the installation of the companies within the HSBC Bank, Thierry François-Marsal confirms this new craze of companies whose turnover is between 10 and 100 million euros: "The strategy has changed. Before, they were seeking to export to Brazil, which is not easy because of customs barriers. Now, they prefer direct investment, notably through acquisitions. "The challenge is to flee rather weak growth in Europe and open up across Brazil, now the eighth world economy, all the South America. The reverse is also true, and intrigue. "Before, we saw some great groups in Brazil land abroad for two years is also the case of SMEs.As a result, French companies seeking to know what's behind this momentum, "said the expert.

• Year of establishment: 1975

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New security crackdown in China. The Chinese authorities are taking further steps to try to calm the real estate speculation in big cities. "Overall, Chinese stocks listed in Hong Kong, more easily accessible to foreigners, have little reaction to the announcement, which however was not expected. But it is true that a lot of bad news is already in progress, "says Claude Tiramani, Lutetia in Capital. International investors have already deserted the market.

Because, for months, the tightening of Chinese policy, which is expected to slow economic growth, worries them. "The situation of local banks also calls for caution," says Lai Choo Woomer, manager at Comgest.They could be weakened by bad loans (loans to developers and especially to local governments to fund programs for construction and infrastructure). "But the Chinese government has never hesitated to recapitalize ailing banks," said Claude Tiramani.

Since the beginning of the year, Chinese stocks in Hong Kong were down about 3% in local currency (and up 3% in euros). "While the Chinese authorities not advertise that they are satisfied with the level of property prices, Chinese equities remain the sentence," says Martial Godet, responsible for managing emerging markets at BNP Paribas IP.

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