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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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A history of gold? The fund Bridgepoint entered into Friday night to Saturday two agreements to buy the first two channels simultaneously French jeweler midrange, Histoire d'Or and Marc Orian.

If successful, a priori, in October, the transaction remains subject to the advice of two councils and the approval of competition authorities, would bring the delicious result of two brands created by successive Sylvain Krief in the 1980s, and whose networks are geographically complementary.

Histoire d'Or, owned since 2006 to fund Silverfleet Capital, has 200 stores, almost all located in shopping malls on the outskirts of cities. The company is dynamic. Its turnover amounted to 220 million euros in 2009, up 1.1%. In France, its network of stores has almost doubled in size in four years.Elsewhere in Europe, the brand has established in Belgium and Italy. History Gold was also launched in 2007 teaches J'M (six stores), on the same niche, but more likely.

Good mid-range resistance

Located also in the malls, Marc Orian Group operates its side a network of more than 250 stores under the Marc Orian and Treasury, and annual sales of around 130 million euros. The company is owned since 2006 by QUALIUM (formerly CDC Capital Investissement) who bought from Crédit Agricole Private Equity.

The combination of these signs would create a network of over 450 shops for a turnover of around 450 million euros. It has been several years that the funds eyeing the jewelry chains midrange.The sector has grown steadily against the current of a market down 2% last year, mainly at the expense of traditional jewelry stores downtown.

Bridgepoint could benefit from his position of arch-leader to refine the positioning of its various networks, optimize purchasing and address the heart of market towns by launching a new concept.

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Apple wants to improve his reputation. While its flagship product, the iPhone 4 has problems receiving the signal, the group of the Apple brand has announced its decision to hold a press conference Friday on the subject. A first for the group trying to minimize the present case. It must be said that the criticism of Apple's latest increase, since the U.S. consumer magazine Consumer Reports has recommended the purchase of the smartphone, so he had hitherto always been to bare devices from Apple.

The group gave no further guidance on the ads that must be made during this impromptu conference. But analysts formulate hypotheses. Some believe that the group could recall its latest model. The cost of the operation is estimated at 1.5 billion dollars by the Los Angeles Times.Just about the only first three days following the release of the phone, nearly 1.7 million units were sold.

Expected solution

While experts find it unlikely that the group undertake a comprehensive reminder of the smartphone, according to them, "the image and potentially Apple iPhone sales could be penalized by a lack of explanation and proposed solutions by the group. "

One of the approaches discussed by the specialists was that the group provides free cases, the use of which seems to solve the problem. The cost of this operation is estimated at 45 million dollars. An amount more than thirty times lower than that of a possible massive recall.

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Hard times for cement? This seems to believe the stock exchange operators on Wednesday. Every sector is affected by falls in Europe. The Stoxx Construction Materials lost 1.08% to 2550 points. This is the largest sectoral decline in Europe. A wind blowing across the cement concern since the Irish HRC issued a warning on its sales in 2010.

The Irish group announced Wednesday that its sales in 2010 would be affected more severely than expected by the consequences of fiscal consolidation in the euro area and slowing the pace of recovery in the United States. The penalty is immediate Dublin Stock Exchange: securities lost 8.76% to 15.62 euros to 10.40.

Meanwhile in Paris, his rival Lafarge signs the worst performance of the CAC 40.Titles unleash 3.32% to 40.18 euros on a market down by 1.55%.

Bond issue

Furthermore, the stock reacts to the bond issue launched by the French cement. Lafarge announced on Wednesday will raise 550 million dollars (about 437 million euros) from an "institutional investors in the United States. The program will last five years and will focus on a fixed coupon of 5.5%.

The funds raised are expected to refinance part of the group's debt, which on 31 March, amounted to 14.58 billion euros. The settlement and issuance of bonds are scheduled for July 9, 2010.

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This Wednesday is a symbol of a further decline in Paris at the opening of U.S. existing-home 40descend 1.07% to 3365.85 points at the gong. The key index had managed to keep the 3,700 points on Tuesday night, but the threshold has not kept in the first exchanges.

In Europe, stock markets have made concessions on Tuesday after nine sessions chained up on. Announcing the easing of exchange rate policy of China, made Saturday, had pushed world stock markets Monday. The first steps in this direction have been given yesterday and Wednesday, with two cuts in a row the central rate against the dollar. But in exchange, the effect was short-lived. And on Wall Street, poor statistics on the front of the immmobilier has cast a chill on the market.So, this morning, the main financial centers of the Asia-Pacific are following suit.

Around 9:00 on Wednesday, the euro is changing in a very slight increase. This rating 1.2285 dollar.

Economic News Authority

In France, the business climate in the French manufacturing industry fell slightly in June, according to the business survey released Wednesday by the INSEE. The synthetic indicator has lost two points to 95, its first decline since February, when economists on average expected stability.

Moreover, the index of activity in services climbed to 61.6 in draft cons 61.4 in May, its highest level since August 2006 and well above the 50 mark, which marks the boundary between expansion and contraction.

At noon, the Court of Auditors present its report on the situation and prospects of public finances.In Germany, the GfK consumer barometer, always watched closely, will be visible at 8:10. In the euro area, the first estimate of the PMI will be unveiled at 10:00.

And the United States, 16 hours, will be made public promises of home sales for the month of May, after a bad real estate statistics published in the ninth Tuesday: – 2.2% in volume last month, to 5.66 million units annualized. The traditional weekly crude inventories will be available at 16:30.

Finally, this evening after 20 hours, the Monetary Policy Committee of the Fed will issue its statement.Highly regarded by investors, note any change in the discourse of the Federal Reserve.

The rate strategists believe that Societe Generale U.S. Federal Reserve will raise its rates faster and stronger than expected by the market and call for caution on U.S. government bonds.

Banks suffer disproportionately

The banking sector remains to be monitored throughout the session. On Tuesday, he suffered a spate of bad news. In addition to degradation of the note in the long-term debt, BNP Paribas, Credit Agricole said the cost of risk on its Greek subsidiary Emporiki would weigh 450 million euros more than expected.The BNP Paribas has yielded 1.92% and that of Crédit Agricole SA 4.69% Tuesday.

On Wednesday, the bank stocks sign the worst performance of the CAC 40 Again: Credit Agricole down 1.74%, BNP Paribas 1.54%, 1.5% Societe Generale.

Societe Generale: -1.5% to 36.8 euros Societe Generale will call Wednesday Kerviel just 4.9 billion euros in damages, a record amount corresponding to the loss she attributes to "fraud" its former trader. Yesterday, the former CEO of Societe Generale, Daniel Bouton, has admitted "failures in the control of the bank during his testimony before the Tribunal of Paris.

L'Oreal: -0.73% to 82.9 euros Paul Bulcke, Nestlé CEO, said in an interview with Reuters that his group had no plans to change the status quo in the capital World number one cosmetics, according to the shareholders agreement that binds to the Bettencourt family.

Alstom (-1.13% to 41.45 euros) and Areva (-1.6% 356.7 euros) Alstom no longer wants to marry with Areva. "To dance the tango, it takes two. Areva does not really want to dance. We no longer so eager to dance ourselves, "Patrick said Tuesday Kron, Alstom's Chairman, at the general meeting of shareholders.

GDF Suez: -0.7% to 25.9 euros The group reportedly asked the Commission to regulate the énegie to request a further increase in gas prices by 5%, according to Le Parisien.

Total: -1.25% to 39.6 eurosTotal and oil stocks are worthy of attention.The International Atomic Energy Agency (IEA) publishes 10:30 prospects of markets for oil and gas.

ArcelorMittal the world's number one steel company, announced Tuesday that the apparent demand and actual demand for steel would remain positive in the second half of the year, even if they should show a slowdown during this period. Lakshmi Mittal, the CEO that the slowdown in demand was due to seasonal reasons. The boss also said he did not think the steel industry return to its pre-crisis level until 2012.

EADS: -0.22% to 17.9 euros Airbus forecasts a near-doubling of its production of A320 aircraft in China, 48 aircraft in 2012, said Zhao Haishan, an official of the manufacturer in Tianjin in northern countries, quoted by the Xinhua news agency.

Vivendi: -1.56% to 17.71 euros The group has denied an Indian newspaper Economic Information Times that he would be in talks with Reliance Communications to take a 26% in the second mobile operator in India. [

Axa Insurance (-2%), CNP (-0.6%), Scor (balance) …: Values of insurance will also be regarded as the French Federation of Insurance Companies (FFSA) releases on the market situation and its prospects.

Renault-Nissan: -1.5% 33.34 euros The automaker Nissan CEO Carlos Ghosn, said he received 890 million yen (8 million euros at current exchange rates) for 2009 – 2010, making him one of the best paid bosses in Japan. Carlos Ghosn made the announcement at the annual general meeting of shareholders of the Japanese group, held Wednesday in Yokohama (Tokyo area).This does not include fees paid 1.24 million euros in 2009 he has received as CEO of the automaker Renault, Nissan's largest shareholder with 45.7% of the securities.

PSA Peugeot: -1.25% to 22.5 euros Peugeot Italy announced Tuesday it had signed an agreement with Sorgenia first private operator in the Italian electricity market created and controlled by Rodolfo De Benedetti, to launch its vehicle Electric Ion Italy.

France Telecom: -0.4% to 15.1 euros, the company announced Tuesday it would invest about 515 million euros over the next five years in its network in Switzerland a few weeks after abandoning its planned merger with Sunrise, blocked by the competition authority of the country.

Nexity: -2.35% to 22.4 euros The group announced the launch of its buyback program of up to 4.5% of its share capital, which will be followed by cancellation of shares they will be well acquired. This operation is designed to optimize the management of the group's balance sheet.

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European markets should take a breather on Tuesday morning at the opening, following a rise of more than 1.3% for the CAC 40 in France, 1.2% for the Dax in Frankfurt and 0.9 % for the FTSE in London.

The effect yuan – will easing of monetary policy by central Banquce China – indeed should not last, just like what happens in Asia this morning the stock exchanges globally are displayed in decline on Tuesday morning (except China). And what happened Monday night on Wall Street, which has erased As his winnings to finish in decline.

The euro resumed its decline late Monday afternoon, and stabilized during the night of Monday to Tuesday to $ 1.23.Meanwhile, China, the Chinese central bank set the yuan's daily central rate – which is the reference rate for the trade – at 6.7980 yuan per dollar, its highest level in five years.

Top of the Committee meeting of the Fed

In Germany, the Ifo barometer, followed closely by investors, will be unveiled at 10:00. At 11:00, the European Central Bank will publish the balance of payments of the euro area. On Tuesday, the new British Minister of Finance presents his budget "emergency" 2010/2011.

In France too, the government prepares new austerity measures. Interviewed by the Financial Times, the secretary general of the Elysee, Claude Gueant, said that measures will be announced in the fall.

At 16 hours, home resales in May, the U.S. will be known when the meeting begins Monetary Policy Committee of the Fed.According to Aurel, the Federal Reserve "will leave once again, its key rates unchanged.

BNP Paribas was downgraded by Fitch

Fitch said Monday it has downgraded the long-term issuer rating of BNP Paribas down one notch, to AA-, but now the investment in solid, with a stable outlook.

The Zodiac aerospace group announced the acquisition of the company canadienneCantwell Cullen & Company, specializes in equipment for cable protection.

Bureau Veritas Group has announced the signing of an agreement with British company to acquire its subsidiary Inspicio Inspectorate, with 450 million pounds (540 million euros). Inspicio is majority owned by British investment company 3i.

Bouygues UMP mayor of Marseille Jean-Claude Gaudin, announced Monday it had accepted the candidacy of GFC Construction, a subsidiary of Bouygues, for renovation of the Velodrome stadium and its surroundings, a project costing 273 million EUR for the Euro 2016 football payday loan online. Vinci is thus rejected.

PSA Peugeot The manufacturer shall make price 500 million of five-year bonds with a 5.625% coupon, a yield of 5.75% and maturing on June 29, 2015. Yesterday, the automotive industry has benefited from the influence yuan. Renault rose 3.56% and 2.44% PSA.

L'Oreal Liliane Bettencourt, the richest heiress in the Group announced the adjustment of its tax assets abroad after the revelation of possible tax evasion in connection with the case between billionaire's daughter.Moreover, the wife of Eric Woerth – the current Minister of Labour previously in charge of the Budget – will resign "in the coming days" of the company since 2007 where she manages a portion of his fortune.

Casino Casino announced Monday it had increased from 33.4% to 33.7% its stake in its Brazilian subsidiary GPA (formerly CBD) at the end of a capital increase reserved for him. Grupo Pao de Acucar (GPA), the leading distributor in Brazil, is jointly owned by the Brazilian Diniz family and French retail group.

BPCE The judge Roger Le Loire will conduct an investigation for "illegal taking of interest" on the appointment of Francois Perol head of Banque Populaire, Caisses d'Epargne (BPCE), opposed by unions and opposition .

Alstom holds its general meeting from 14:00.

Auchan According to information from Figaro, Lille distributor sells new vehicles on its website. Other brands will engage, in signing him as a partnership with self-ies.com, leader of the online sales of cars sold off.

Banks In five days of the beginning of the G20, which will be held in Toronto, France and Germany called on Monday for unity on the subject of the tax credit.But Nicolas Sarkozy and Angela Merkel faced hostility from many countries of the G20, including India, Russia, China or Canada, which hosts the next G20, the introduction of a tax credit.

The leaders of GDF Suez, EDF and Poweo participate in a symposium on the power industry.

The Blues are fleeing

Defeat of France against Mexico on Thursday, referring to Nicolas Anelka on Saturday, the team refused to train Sunday partners French Football Federation (FFF) – Carrefour, Vodafone, Credit Agricole and GDF-Suez – have been strained in recent days, pending a probable elimination of the French on Tuesday.

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For the first time since the announcement of the moratorium on its debt, which had rocked markets last November, Dubai World this week should initiate discussions with its creditors. Discreetly. According to the Financial Times quoted sources close to the negotiations, the conglomerate duba?ote must submit to its main banks with a proposal to reschedule $ 22 billion of debt.

A spokesman for the Emirate of Dubai, questioned by AFP would not confirm the information daily from the City. This is a "confidential process," he has merely said, adding that "a formal proposal will be presented by Dubai World to creditors in March" payday advances .

Dubai World could offer, understands the Financial Times, two alternatives to its creditors.Either the banks want to be repaid over several years, but cover the full amount owed. Either they agree to reschedule the debt over the longer term, with the state guarantee, not losing a penny. Still, "according to sources familiar with the matter, nothing is certain" shade the Financial Times.

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A press conference, the first since the crisis began at Toyota, was held today at company headquarters in Nagoya. Akio Toyoda, the CEO of the Japanese manufacturer, apologized to the public concerning the technical flaws that have led to millions of recalls of vehicles.

He said at this meeting: "I am deeply sorry for the inconvenience and concern caused to customers due to recalls in many areas," adding "I now turn to the public as customers are concerned about whether their car or not in good condition, and I do not want to leave them in this situation throughout the weekend, "" Believe me, Toyota cars are safe. "

It indicates that the brand will establish a global to improve quality with a work team specially dedicated saving account payday loan .He himself will chair this team. About the Prius, Toyota is studying ways to solve the brake problem. Akio Toyoda said he "gave instructions for a solution is found as soon as possible."

He also admits that his group was going through "a crisis" because of the eight million vehicles recalled, but "customer safety is paramount."

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Optimism seems to return, according to the green that dominates in all the places in Asia on Thursday. In Japan, the Nikkei, which yesterday had touched his lowest level in 5 weeks (-0.71%) opened in the green (0.56%) and strengthened its position in this direction in mid – meeting. He ended the session on a strong growth of 1.58% to 10,414.29. The broader TOPIX, gaining 0.73% to 914.32 points.

This rebound is in the wake of Wall Street. The day before the U.S. financial markets finished the session on a positive note, 0.41% at 10,236 points. The meeting had started yet at equilibrium (0.01%) before plunging into the red to the publication of statistics on disappointing U.S. housing (the new home sales are sales fell by 7.6% In December, the lowest since March).But the long-awaited findings of the Monetary Policy Committee of the Fed have given balm to the hearts. The Fed decided in fact to maintain its historically low interest rates, arguing that economic recovery is not strong enough to overcome them.

This morning in Asia, the speech of Barack Obama after market before Congress was relieved. This has highlighted the support to economic activity without announcing new initiatives in banking regulation, which has relieved investors.

In Davos, the words of Nicolas Sarkozy on the need for regulation of global financial system did not disturb investors paydayloans .

Canon and Sony in stars to the Tokyo Stock Exchange

Japanese markets were also supported by expectations of Canon (+1.8%) table for 2010 that the first increase its annual profit in three years.Sony has also pulled the index up (+4.93%) after a newspaper article that the group will publish a quarterly operating profit above consensus.

Now, from Asia, all eyes turn to the applications weekly unemployment benefits to be published by the United States at 14:30, at the same time that orders for durable goods in December.

Green invaded other Asian stock markets

Elsewhere in the region, same atmosphere. In Shanghai, the Shanghai Composite gained 0.31% to 2995 points. In South Korea, the KOSDAQ index jumped 1.47% to 3481 points

In Australia, the S & P / ASX 200 gained 0.62% to 4673 points.

The Stock Exchange of Hong Kong, which also opened up, takes 1.81% to 20,396 points.

Oil prices drop

Note that crude prices were higher in Asian trade after a substantial decline from yesterday.The barrel of light sweet crude for March delivery took 11 cents to 73.78 dollars, while that of Brent North Sea at the same maturity, gained 14 cents to 72.78 dollars.

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