The CAC 40, which won in the 4000 points on Monday night, amid record oil prices and gasoline, is struggling to return to the 4000 points on Tuesday: the index gained 0.64% to 4015, 91 points. The DAX index of the Frankfurt Stock Exchange is 0.04% to 7164.75 points while the FTSE in London is 0.02% over the closing Monday at 5,931.28 points.
Last night, Wall Street has yet suffered during the black gold but this morning, Asian stock markets have evolved around the equilibrium. Tensions in the oil market will settle down when in fact that Nigeria, Kuwait and the UAE will increase their oil production by April to offset higher prices that now exists as Libya comes into civil war with an additional 300,000 barrels per day, according to the Financial Times.This morning, oil prices dropping a bit of ground: a barrel of light sweet crude for April delivery yielded 1.41% to 103.95 dollars and that of Brent North Sea fell by 1.16% to 113.71 dollars.
French growth of 0.8% in first quarter
Side macroeconomic figures on Tuesday to watch: Bank of France said Tuesday forecast growth of 0.8% of gross domestic product (GDP) of France in the first quarter of this year in its monthly business survey. The survey on business climate shows a continued growth of industrial activity in February, but at a slower pace than in January, the indicator remained stable 110.The business climate indicator in services has increased in parallel from one point to 102.
Moreover, the trade deficit widened from France in January, to 5.89 billion euros against 5.60 billion the previous month, seasonally adjusted data, the Customs said Tuesday.
No statistics are expected this afternoon from the United States.
On the foreign exchange market, the euro lost it again a little ground against the dollar on Tuesday as investors reaping some profits after a record four months veille guaranteed unsecured personal loan.En early afternoon in Paris, the euro was worth 1, 3877 dollars against 1.3971 late Monday.
Scor: net profit up 13%
At the Paris Stock Exchange on Tuesday morning, Michelin took the top ranking (2.51% to 59.19 euros) the Cac 40, followed by Axa (+2.49%).Red side, Alcatel Lucent was down 2.72% on profit taking as well as Capgemini 0.62% and 0.53% of GDF Suez.
The SBF, Scor (-1.69% to 21.43 euros) also suffers profit taking. The reinsurer recorded in 2010 net profit up 13% to 418.0 million euros, above expectations, thanks to a surge in financial products, according to a statement released Tuesday. It is also in talks to buy the U.S. Transamerica Reinsurance, a subsidiary of its Dutch rival Aegon, reports Bloomberg.
Air France-KLM (+0.34% to 11.64 euros) reported on Tuesday morning traffic on a February increase of 4.9% capacity increase of 5.1% annual rate . This brings "a quasi-stable load factor to 77.6%," says the airline in a statement.Passenger numbers rose 5.7% to 58.1 million.
Side values, the oil services group Technip (+0.52% at 71.09 euros) has signed a contract worth around 45 million euros for the Gjoa Field Development in the Norwegian North Sea, he said Tuesday in a statement.
LVMH (+0.75% to 113.80 euros). Bernard Arnault, CEO of LVMH, said that the purchase of Bulgari and the agreement with family shareholders of the Italian jeweler might show interest in the Hermes family of a rapprochement with his band.
To be continued this evening, after-hours trading, the 2010 earnings of Havas and BioMérieux.
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