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Essilor International shows a rebound in sales of 15.8% in the first half to 1,926 billion euros. The world of ophthalmic lenses has seen its sales boosted by several acquisitions such as U.S. and Signet FGXI Armolite. In all, Essilor has acquired or increased its stake in thirteen companies in the first half, representing an additional turnover of approximately 80 million euros.

Excluding currency and acquisitions, growth in turnover is 5.9%, "in line with its annual target," the company said in a statement.

The Group's net profit was down slightly from 1.3% to 197.5 million euros. The group is penalized by the provision of 41.5 million euros to pay the fine imposed by the German competition authority (Bundeskartellamt) for formation of cartels.Adjusted for this provision, net income reached 238.8 million euros, an increase of 19.3%.

Essilor confirms its annual targets

"In the second half of 2010, in a context of renewed activity still fragile, Essilor will pursue the strict implementation of its strategy of growth based on new products, geographical expansion, acquisitions and organic conquer the environment range, "the group said.

This confirms target for 2010 sales up 5% to 7%, excluding currency and strategic acquisitions, and margin contribution stable excluding acquisitions and strategic change IFRS. In the first half of 2010, the margin of Essilor has eroded slightly over the same period in 2009, yielding 0.1 percentage points to 18%.

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While the European equity markets are struggling. But the values related to the construction sector underperforming the broad market on Tuesday. In case, a warning from the Irish group CRH: the largest producer of asphalt in the United States said it expected eventually to a 10% drop in profits for the year 2010 due to the fragility of the U.S. economic recovery.

Obviously, the penalty was not built until the stock market: shares tumble 16% HRA on the square in Dublin. And in its wake, Saint-Gobain and Lafarge, respectively dropping 5.43% and 4.94% and position themselves behind the curve on the CAC 40. Bouygues sold him, 3.65%. In Switzerland, Holcim loose 2.3%, while the pan-European Stoxx 600 index sector yield 4.2%.

Tough competition

Myles Lee, the CEO of HRA, said that the performance of the U.S. economy are "not good", but anticipate relapse into recession. "The economic news from the United States are disappointing and below expectations. It now seems clear that the economic recovery there, even if it occurs, will not be as strong than expected, "he said on Irish TV channel RTE.

Its chief financial officer, Albert Manifold, said his side as the weakness of the commercial construction activity and delayed investments of state and local governments in the United States had generated sales below expectations July and August, usually two months porters.

In addition, pressure on margins is increasing, so that several competitors are trying to reduce their prices, "said HRC.

Commodity prices and budgetary discipline

Harry Sebag, an analyst at Saxo Bank, explains that "businesses have impacted their margins and cut prices to gain market share." Already weakened, companies are also facing the weaker euro and higher commodity prices, driven by demand from emerging countries, which darken the outlook for the sector. Fiscal rectitude who moved to Europe and hence lower investment in construction, does shoved a bit more nail.

For the construction specialist in Europe, Euroconstruct, the sector should not resume until 2012.Particularly affected by the gloomy atmosphere, Ireland, Spain, and Portugal.

In France, since the beginning of the year, Lafarge has won over 37% in stock, Saint-Gobain, 24%, French Cement declined 19%, Vinci, Bouygues 14% and 12%.

A monitor, tomorrow, Wednesday, sales of new homes in the United States, which fall in the afternoon. On Tuesday, the bad news on the front sales of existing homes of great concern.

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LE FIGARO. – How do you exercise stress test which is to engage Europe?

Baudouin PROT. – The resistance tests show that European banks are sound and well capitalized. They were conducted using a common methodology and from economic scenarios comparable, if not more stringent than the scenarios used in a similar exercise conducted in spring 2009 by the Americans. These results should put an end to a period of unfounded concern about the health of the European banking system. However, it is essential to economic life that banks trust.

What do you think the score of French banks?

They have passed the test with flying colors.Three reasons: they entered the crisis well capitalized, they have weathered the crisis better than others and have significantly increased their capital by allocating a significant portion of their results for two years. In the end, and in the worst case scenario, the excess equity that French banks compared to the waterline defined by European regulators reached 70 billion euros. This is all the more remarkable that almost all French banks have repaid the government aid, while still 180 billion euros in state support in the European banking system.This is good news for France: our banks are more than ever to finance projects of their clients.

What lessons learned, while the Basel Committee on Banking seems to require more capital?

The French banks have for long argued that, compared to the level reached today, a massive build new capital would be unnecessary and inappropriate. The results of stress tests clearly support this point. Europe needs just as much vigor and rigor, when the economy picks up in many parts of the world. It should not be an excessive overinvestment reduces the ability of all its banks to finance the economy and thus stimulate growth. The decisions to be taken in Basel, the Financial Stability Forum and ultimately to the G20 in November in Seoul, are, for me, a historical significance.Europe must become fully aware of its core strategic interests and defend them.

You leave the presidency of the French Banking Federation at the end of a busy year. What are your reasons for satisfaction?

Both at the heart of the crisis in 2009 that since the beginning of 2010, French banks have never stopped doing their job, providing their customers with the relationship and funding the economy. If the overall image of the banks has suffered, the satisfaction rate of customers vis-à-vis their own bank remained above 80%. This shows the quality of the device relational French banks, through a dense network of trained counselors. Now they have stopped investing in this device even though it is already higher than other European countries cash advance loan.The pace of 30,000 hires per year in IFA has been maintained in 2009 despite the crisis, and will be again in 2010.

A tough job, with advisers attacked by customers …

These difficulties were at their peak a year ago. Since the relational climate has thankfully subsided in the agencies. And with the executive committee of the FBF, we conducted many meetings with regional business leaders in recent weeks: I also note a positive trend in relations. All this is explained by the fact that growth in France in outstanding bank credit to individuals and SMEs is the best in Europe. In late May, outstanding housing loans grew by 5.1%, those SMEs 3.8%, a record in recent times.The latest survey also shows that Oseo the cost of credit, which was an obstacle to investment for 48% of SMEs in November 2008, the remaining 23% only. French SMEs also benefit from a lower cost of credit watch on the European average.

Financial reforms, on both sides of the Atlantic, you feel they fit well?

French banks are convinced that regulatory changes are needed to draw lessons from the financial crisis. That being said, we must make the right decisions. The Anglo-Saxons tend to give undue weight to the ratios, when the quality of supervision is essential. In France, a single supervisor effective – which is still being enhanced – and bank officials have avoided the bad loans that have cost so dear to the American community.The situation is very different.

The paradox is that U.S. banks, causing excesses, emerge from the crisis stronger …

I note that U.S. banks are the only ones to have massively increased their size in their market after the crisis, with the help of taxpayer elsewhere. The crisis resulted in a wave of bank mergers that made JPMorgan, Wells Fargo or Bank of America mastodons much more impressive than before. At the same time, few European banks have grown. Moreover, while all the 13,000 European banks are subject to Basel II since 2008, U.S. banks do not always apply.It is difficult to accept that capital requirements are influenced by demands of countries we are not sure they apply the rules in the same way that European banks.

Added to the tax systems …

The fact that France, the United Kingdom and Germany are the only ones in the world to impose such a tax on banks that can not be cons-productive to the competitiveness of these countries. French banks, in any case, can not afford both to finance the economy, maintain a buffer of high security into equity while financing the budget deficit.

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Fnac farewell to Wake & Games. The distributor of cultural products, a subsidiary of PPR, entered into exclusive negotiations with ïdgroup (Okaïdi, Obaïbi, Jacadi …) for the sale of 41 stores games and edutainment toys Fnac Eveil & Jeux and site Online sales associate. "The reference to the Fnac will quickly disappear from the sign, gives the" Figaro "Margaret Milan, CEO of the subsidiary. Eveil & Jeux notoriety enough to live alone. "

So finished playing for Fnac, which opened its first stores in 1997 Fnac Junior, before acquiring the next year the pioneer of mail-edutainment toys, games & Enlightenment. In 2005, two subsidiaries were combined and renamed the brand.The ensemble, led by Margaret Milan, the founder of Awakening & Games, was managed independently within the Fnac.

This relative independence explains that PPR, which formally announced in February 2009 its desire to disengage from Fnac, has decided to initiate a sales process for specific Awakening & Games.

If the transfer, the amount was not disclosed, go ahead, join ïdgroup Awakening & Games, the leading French ready-to-wear children. Its founder, John Duforest, is a former Camaïeu, which he took over the child activity in 1996. Together with Jean-Luc Souflet, he launched the brand in 2000 Okaïdi, targeting children 0-14 years and two years later Obaïbi, based on 0-5 years.Both brands now have 681 stores, including 347 in France freecreditscore.

A phenomenal success has led leaders to diversify. In 2005, ïdgroup bought Frydman family (former owner of Marionnaud) Jacadi, which has 270 stores, including 117 in France. Ïdgroup, which showed a turnover of 415 million euros in 2009 (but refuses to disclose its findings), also trying to revive a small sign of educational toys and arousal acquired in 2008, called Oxybul.

50% of distance selling

"Both groups will benefit from the expertise specific to each brand, including the qualifications of Internet sales and promoting the network of stores, provide Duforest Jean and Jean-Louis Souflet. "We specialize in multi-channel," says Margaret Milan.Half of the turnover of Fnac Eveil & Games (127 million euros last year) is carried in stores. The other half is done remotely, with 90% on the Internet and only 10% by phone or by mail.

Okaïdi may therefore accelerate the Internet, while awake & Games benefit from the experience of international ïdgroup, present in 60 countries. "Both companies share the same values," says Margaret Milan, delighted to join a group to "work for the awakening and development beneficial to the child," according to its founders.

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Those who doubted the success of the Romanian Dacia brand will be surprised. According to figures released Thursday by the Committee of French, the low cost subsidiary of Renault saw its sales jumped to a whopping 95.8% in June in France. The performance is even more significant than the same period, the automotive sector is down 1.2% in raw data. Last month, 12,075 Romanian brand models were sold in France.

This success allowed Renault to back off in a market increasingly weighed down by the end of the car scrapping. The brand with the diamond cash down 1% of its sales in June against a decline of 5.6% for its eternal rival PSA Peugeot Citroen. Without Dacia, Renault made a performance less significant: -111% of registration last month against 4.1% for the Peugeot brand.

More broadly, the French experience a decrease of 7.9% of their sales. While abroad Nissan (+24.2%) and GM Europe (+21.2%) are doing well.

A good first half

Throughout the first half, however, sales were up 5.4% thanks to good figures at the beginning of the year. In the first quarter, the premium had already broken down, but the manufacturers had assured compensation. Result: the market had increased by 16.9%.

Scrappage EUR 500

According to BFM, the prospects are not reassuring. In the second half, the reduction would be 20%. Nevertheless, the number of cars sold would be even higher CUX 2007 and 2008. For the full year 2010, the decline would be 10%.

The market expected a backlash over the second half of the year.The July 1 heralds a new drop in scrap bonus which amounts to 700 euros to 500 euros. More government aid declining, manufacturers are less able to compensate. In Europe, the example of Germany left pointing to an already difficult year-end. The country, which ended the scrappage scheme in September 2009, showed a slump of 34% of registrations in the month of May.

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Better than expected.

Job center will provide 18 hours tonight the numbers of jobseekers registered.

In the Eurozone industrial orders in April showed the strongest gain in 10 years: +0.9% over March and 22.1% compared to April 2009. This last figure is the highest since May 2000, according to statistics released Thursday by Eurostat.

On the macroeconomic front, new jobless claims in the U.S. declined for the first time in three weeks, more than expected, according to official figures released on Thursday, and identifying the deposit of 457,000 new applications for grants from 13 to June 19 cons 476,000, said Thursday the Labor Department.

Furthermore, new orders for durable goods fell for the first time in six months from May to include the down purchases in the aviation sector, official statistics show on Thursday.

The Commerce Department reported a decline of 1.1% of these orders, to 192.008 billion dollars, after rising by 3.0% in April.

Analysts polled by Reuters had forecast an average decline of 1.4% in May after rising 2.8% announced in the first estimate for April.

Areva accrues $ 400 million more

The Group accrues 400 million euros more because of the further delay of the EPR. These delays have already cost the group 2.3 billion euros nuclear. And this new supply will cause the accounts into the red in the first half.

Vinci: -0.59% to 37.26 euros The company has signed an agreement for a proposed road tunnel in Vietnam, worth an estimated $ 600 million.

Publicis: -0.34% to 34.74 euros Interpublic does not need to merge with Publicis, according to its CEO, Michael Roth.The fourth group in terms of global advertising revenues has been speculation about a possible merger with French group.

L'Oreal: -1.81% to 81.82 euros, L'Oréal held yesterday, a presentation on New Markets, on their growth potential, based on affordable innovations, development of new product categories and the acceleration of globalization. Natixis Securities appreciated and raised price target on the value of 92-97 euros.

Societe Generale: -2.93% to 35.74 euros, the bank claimed Kerviel to 4.9 billion. This sum is claimed as damages, the commitments of the former alleged fraudulent trader.

Banking sector is doing well this Thursday after being bottom of the list of the CAC 40 over the past two sessions.The President of the European Central Bank, Jean-Claude Trichet said in an interview published Thursday that the reform of financial regulation are on track and that a number of important decisions will be taken in November, during G20.

Axa: + 0.07% to 13.55 Resolution eurosL'assureur UK announced Thursday the acquisition of its French rival Axa Life insurance, savings and pensions in the United Kingdom for up to 2.75 billion pounds (3.3 billion euros).

Vivendi: + 0.06% to 17.45 euros without, however, that the word "relax" is heard, the prosecution had asked for any penalty against former executives of Vivendi Universal. From the first day of the hearing, Jean-Marie Messier, former chief executive, expressed a mea culpa about its "excessive communication."

Casino: + 0.33% to 63.75 euros latest episode in the war of Nespresso.Nestle has obtained the high court in Paris to send bailiffs in Folliet and Vegeplast, the two suppliers to the manufacturer Casino pods compatible with Nespresso machines.

Air France-KLM: -2.73% to 10.87 euros 4,390 people have left the company without being licensed, by March 2013, according to an internal document quoted by La Tribune, on its website.

Company Alps: -4.28% to 23.02 euros Compagnie des Alpes announced Thursday the launch of a capital increase of around 100 million euros, with retention of preferential subscription.

The leisure group has also announced a refinancing of its debt in advance through long-term, secure the liquidity of the group for five years.The increase in crude inventories reported in effect a weakening demand.

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After six consecutive sessions progress, the CAC 40 came to a halt on Thursday morning, while the major Asian stock indices were moving into the red as U.S. markets ended Wednesday night, around equilibrium, at the end of a day marked by the publication of statistics mixed.

But optimism is back on the Paris Stock Exchange: about 11 am, the CAC 40 is 0.6% to 3697 points.Since its bounce, there are seven sessions, the index rose 9.3%.

On Wednesday, world stock markets have been cooled by disappointing indicators from the United States and remain haunted by the question of public debt in Europe.

Spain after Greece

The European Union leaders are meeting this Thursday from 10:00 to Brussels for a summit devoted in principle to tighten fiscal discipline and better coordinate their economic policies but which may at least be dominated by concerns backstage around Spain, whose weight is far more important for Greece in the European economy. They should also take stock of recent stress tests passed by the European banks, particularly Spanish.

The Spanish and German press has reported a plan in preparation to provide financial assistance to Madrid.According to Spanish newspaper El Economista, the EU and the IMF are currently developing an assistance plan for the country, providing a credit line of 200 to 250 billion euros. Information belied by the European Commission.

The euro fell by his side to its highest in two weeks against the dollar at 1.2250, the fears about Spain's public finances and banking system imposed on the European currency.According to the Minister of Economy Christine Lagarde, the euro currency should be durable and strong.

Rain figures to follow

Side numbers to remember, the current account deficit of France remained stable in 2009 at 37 billion euros or 1.9% of gross domestic product (GDP), as last year, according to the annual report Bank of France on the balance of payments on Thursday.

Overseas, the meeting will still be charged: 14:30 will be published the figure for inflation in May, the current account of the first quarter and the traditional weekly claims for unemployment benefits, scrutinized closely by the world's finances as they can guide the speech by the Fed on interest rates.

At 16 hours will be unveiled the composite indicator of economic activity in May and that industrial activity in the Philadelphia area in JuneThis index is also studied carefully and exchanges tend to react strongly to this activity.

This Thursday, closes the E3 show in Los Angeles, the appointment of video gaming sector.

Tourism in the sentence

At 11:00, the presentation of the economic results of 2009 and outlook 2010 the drug industry in France will follow.

While the association of tour operators (Ceto) will present at 9:30 am the barometer Semester (1 November 2009 to April 30, 2010) of the tour operating business. Surprises are to be expected: for the first time, summer bookings should not be increased compared to last year: The indicator should show stability.A monitor then, the tourism sector on the Stock Exchange on Thursday.

Rhodia pushes his pawns in China: 4.56% to 15 euros

The chemicals group announced Wednesday the acquisition of Feixiang Chemicals for almost 400 million euros. The French now hopes to achieve one third of its revenues in Asia. The broker CM-CIC recommends purchase value (cons "ccumukler" above).

Eiffage: 12.25% to 40.6 euros The group announced Wednesday that its subsidiary Eiffarie had signed an agreement with funds for the purchase 13.73% of Autoroutes Paris – Rhine – they hold a total of 854 million euros.Natixis raised its recommendation on the value of "ease" to "neutreé and pulled up his target price of 15-38 euros.

Plastic Omnium: 2.35% to 31.78 euros The group announced a proposed takeover of Inergy Automotive Systems, a joint venture specializing in fuel tanks formed with the Belgian group Solvay.

Eramet: 3.74% to 230.2 euros A tentative agreement was reached Wednesday night to take that Gabon 4% to 5% of the mining group, while riding in the capital of its subsidiary Comilog specialist manganese we read in one of Thursday's Echo.

Veolia Environnement 0.54% to 21.5 euros (the third increase in ACC) Veolia Transportation announced Thursday it had obtained the network operating north and south of urban transport by bus from Phoenix, Arizona.The contract period of 5 years starting on 1 July and will generate a combined turnover of 386 million dollars (314 million euros), said in a statement the transport division of Veolia Environnement.

Transgene: The balance specialist therapeutic vaccines holds its general meeting this Thursday. The group specialized in immunotherapy is expected to unveil next year's final results of several of its vaccines.It could also enter new agreements with pharmaceutical companies.

GDF Suez: -0.7% to 25.76 euros The company on Wednesday signed a syndicated credit line of four billion euros in five years with 18 banks to refinance the advance lines of credit expiring in 2012.

Aeroports de Paris: 0.02% to 65.45 euros ADP Wednesday reported a 3.3% increase in passenger traffic in May over a year, contrasting with the fall of 19.1% decline in April because of disruptions related to the cloud of ash caused by the eruption of a volcano in Iceland.

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Faurecia aims to achieve a turnover of 16.5 billion euros in 2014, a jump of nearly 80% compared to 2009, driven notably by growth in emerging countries and accompanied by a marked recovery its operating margin.

In a preliminary statement issued on the occasion of a presentation to analysts of its medium term strategy, the automotive supplier had suggested a target of about 16 billion euros. It was subsequently refined to 16.5 billion by the group finance director, Frank Imbert, at the end of the presentation.

Faurecia said that his goal would be increased by an average annual growth of 12% over the period, exceeding the estimated average market, including 8% organic growth. In 2009, the turnover of the world's leading exhaust stood at 9.29 billion euros.His prediction halfway strategic plan in 2012, is set at $ 14.2 billion.

The group had already said last month during its general assembly in 2010 that would significantly exceed its target of 4% growth, the dynamism of emerging markets in which Faurecia development in addition to continuing strong demand the scrappage Europe in the first half.

He added target for 2012 operating margin of 4% to 4.5%, against 1% in 2009 and 0.8% in 2008. This rate should be increased to 5-6% in 2014 thanks to growth in the group but also savings plan "Challenge 2009" which led to Faurecia, during the crisis of the automobile, reduce its dead.

The growth will come from China

He estimated that at the end of the period of five years, the share of turnover achieved outside Europe that will reach 42%, against 23% last year, with sales increased by 3 3-6900000000 euros.

This shift from the center of gravity of the group due to the rebound of the North American market, which Faurecia plans to take further since it acquired Emcon, and strong growth enjoyed always the Asian market, led by China.

The group aims at 2014 turnover of 1.7 billion euros to the Chinese market, against 700 million in 2009, representing an average annual growth of 19%.

The Chinese automotive market, already become world number one, is expected to double in size in the coming years.Faurecia now believed to be in position to get the best score for the plants he has in place today allow it to achieve the necessary scale. By 2014, the number of sites expected to reach their thirties.

Faurecia also said targeting a net debt to EBITDA of less than 1 in 2012 and 0.5 in 2014.

In exchange, these ads have been welcomed. The stock has gained nearly 5% to 14.825 euros.

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As demonstrated by these matriochkas high 13 meters, which will adorn the entrance to Grand Palace, the visit of Vladimir Putin, started Thursday night in Paris, sacrifice largely Franco-Russian folklore. It was under the canopies of this symbolic place of French culture that the Prime Minister and his Russian counterpart, Francois Fillon, will open Friday morning a "Russian national exhibition. Previously, the strongman of the country will have breakfast at the Hotel Bristol with Jacques Chirac, then lunch with Nicolas Sarkozy. Fifteen Russian regions, including the turbulent Chechnya will be represented in Paris. A gathering of Russian masters, especially from the aerospace, automotive or pharmacy, will accompany Vladimir Putin.

France, the ninth largest trading partner of Russia

Unlike the two previous visits of Russian leaders in the capital – in November 2009 and March 2010 – no significant agreement should be concluded. In recent months, Moscow and Paris live on their laurels: the future participation of EDF and GDF-Suez in the pipeline South Stream and Nord Stream, the cooperation of the manufacturer Safran construction project of Sukhoi Superjet 100, the Alstom entry in the capital of the manufacturer of trains, Transmashholding. No room for complacency in the face of inroads by Russian companies in Italy and especially Germany.France is the sixth investor in Russia and the ninth largest trading partner countries.

Ads should be reserved for the visit of Nicolas Sarkozy Economic Forum in Saint Petersburg, June 19, in the presence of Dmitry Medvedev: Arianespace is about to purchase Russian rockets, and Martin Bouygues person would enter the Board Skolkovo, a project of Sophia-Antipolis in Russian, which arouses the skepticism of business.

Negotiations on the Mistral

The future of bilateral economic relations is first suspended negotiations started for the purchase by the Russian navy, a helicopter carrier Mistral. Russia, which is counting on France to help modernize its economy, relies on the expertise of the hexagon.

But Paris is reluctant to give Moscow a part of the military technology of this building.It would, however, a "good deal for the French manufacturer," says Vladimir Putin. "A helicopter-carrier as it cost around 300 million euros," added the Prime Minister who wants to buy a copy and duplicating the other three shipyards in the country. The Franco-Russian friendship has its limits.

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The leading Japanese polyester fiber Toray Plastics announced Monday the signing of a 15-year contract with EADS, the parent of European aircraft manufacturer Airbus, the supply of carbon fibers. The contract amount is not specified.

Since 2008, the carbon fiber market was stagnant for the aerospace, note Toray. In a statement, said that the needs Toray carbon fiber Airbus will greatly increase with the production of the A350 XWB. The new contract would allow the Japanese firm to "increase [its] offer high-quality materials and high performance aircraft, thereby strengthening its position as a leader for that use."

Toray was released in late March 1 annual sales down 7.6% at 14, 62 billion dollars.The company, which holds 60% market share of carbon fibers for aircraft, however, to table a net profit of $ 278 million for fiscal year 2010-2011, hoping for an increase in demand, particularly in emerging countries and China.

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